Current Assets
Work in process
3M Work in process increased by 0.4% to $1.13B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 3.0%, from $1.1B to $1.13B. Over 5 years (FY 2020 to FY 2025), Work in process shows relatively stable performance with a -1.7% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementBalance Sheet Statement
SectionCurrent Assets
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ4 2014
Last reportedQ1 2026Apr 21, 2026
Parent metricInventories
How to read this metric
High levels relative to finished goods may indicate production bottlenecks or inefficiencies in the manufacturing cycle.
Detailed definition
This represents the cost of raw materials, labor, and overhead allocated to products that are currently in the manufactu...
Peer comparison
Depends on the complexity of the manufacturing process; peers with lean manufacturing practices typically keep this low.
Metric ID:
inv_work_in_progressHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.34B | $1.44B | $1.58B | $1.67B | $1.79B | $1.83B | $1.61B | $1.55B | $1.53B | $1.49B | $1.24B | $1.39B | $1.19B | $1.19B | $1.05B | $1.1B | $1.13B | $1.15B | $1.13B | $1.13B |
| QoQ Change | — | +7.0% | +9.8% | +5.8% | +7.1% | +2.3% | -12.2% | -3.7% | -1.2% | -2.4% | -16.7% | +11.8% | -14.0% | -0.3% | -11.7% | +4.4% | +3.1% | +1.3% | -1.7% | +0.4% |
| YoY Change | — | — | — | — | +33.2% | +27.4% | +1.8% | -7.4% | -14.6% | -18.5% | -22.7% | -10.2% | -21.9% | -20.2% | -15.4% | -21.0% | -5.2% | -3.7% | +7.1% | +3.0% |
| % of Inventories | 27.7% | 29.0% | 31.6% | 31.6% | 31.7% | 32.6% | 29.9% | 29.1% | 28.9% | 29.4% | 31.5% | 28.3% | 29.4% | 29.5% | 28.4% | 28.4% | 27.7% | 29.4% | 30.8% | 30.6% |
| Share Change | — | +1.3pp | +2.6pp | -0.1pp | +0.1pp | +0.9pp | -2.7pp | -0.8pp | -0.2pp | +0.5pp | +2.1pp | -3.1pp | +1.0pp | +0.1pp | -1.0pp | -0.1pp | -0.6pp | +1.7pp | +1.3pp | -0.1pp |
Range$1.05B – $1.83B
CAGR-3.6%
Avg YoY Growth-5.5%
Median YoY Growth-8.8%
Work in process at Other Companies
Frequently Asked Questions
- What is 3M's work in process?
- 3M (MMM) reported work in process of $1.13B in Q1 2026.
- How has 3M's work in process changed year-over-year?
- 3M's work in process increased by 3.0% year-over-year, from $1.1B to $1.13B.
- What is the long-term trend for 3M's work in process?
- Over 5 years (2020 to 2025), 3M's work in process has grown at a -1.7% compound annual growth rate (CAGR), from $1.23B to $1.13B.
- What does work in process mean?
- The value of goods currently on the factory floor that are in the middle of the production process.