A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
3M CO
MMM
$93.5B
Mkt Cap
$172.62
+1.79%
3M CO (MMM) has a current P/E ratio of 28.8, compared to its historical median P/E of 16.5. The stock is currently considered Expensive based on its historical valuation range.
3M CO (MMM) has a 5-year average return on invested capital (ROIC) of 13.8%. This indicates solid capital allocation.
3M CO (MMM) has a market capitalization of $90.0B. It is classified as a large-cap stock.
Yes, 3M CO (MMM) pays a dividend with a trailing twelve-month yield of 1.75%. The company also returns capital through share buybacks, with a buyback yield of 4.42%.
Based on historical P/E analysis, 3M CO (MMM) appears expensive. The current P/E of 28.8 is 75% above its historical median of 16.5. The estimated fair value CAGR (P/E method) is -3.8%.
3M CO (MMM) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
3M CO (MMM) reported annual revenue of $24.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
3M is a diversified technology company operating through three business segments: Safety and Industrial, Transportation and Electronics, and Consumer. The Safety and Industrial segment manufactures industrial abrasives, adhesives and tapes, electrical products, personal protective equipment, and roofing granules for construction and industrial markets. Transportation and Electronics produces automotive and aerospace attachment materials, display films, reflective signage, semiconductor packaging solutions, and data center materials. The Consumer segment offers cleaning products, air quality solutions, picture hanging accessories, retail abrasives, bandages, and office supplies under brands including Post-it, Scotch, Filtrete, and Nexcare. 3M distributes its products globally through direct sales, e-commerce, wholesalers, retailers, jobbers, and dealers, leveraging long-standing relationships with channel partners and a reputation for innovation and quality. The company's competitive position rests on expertise in product development, manufacturing, and marketing, supported by a substantial portfolio of patents, trademarks, and trade secrets that provide differentiation particularly in new product introductions. With approximately 60,500 employees globally as of December 2025, 3M operates across diverse end-markets including industrial, automotive, aerospace, construction, consumer retail, and semiconductor sectors, with significant geographic presence in both the United States and international markets.
【Accelerating growth and margin expansion】 Management expects organic sales growth to accelerate through 2026, with all three business groups projected to grow faster than the 2.7% combined rate achieved in 2025, supported by strong backlog coverage, continued new product introductions, and commercial excellence initiatives. Operating margins are anticipated to expand 70–80 basis points for the year, driven by volume growth and productivity gains across supply chain and SG&A that are expected to exceed $450 million, more than offsetting tariff headwinds and growth investments. The company is executing a broad-based transformation including manufacturing footprint optimization, process standardization, and portfolio reshaping to improve resilience and predictability, while maintaining investment in innovation with 350 new product launches planned for 2026. Management remains confident in achieving medium-term commitments outlined at Investor Day, including $1 billion of outperformance versus macro growth and a 25% operating margin target by 2027, with free cash flow conversion expected to exceed 100% and approximately $2.5 billion in gross share repurchases planned for 2026.
| Metric | Target | Period |
|---|---|---|
| Organic sales growth | approximately 3% | FY2026 |
| Adjusted operating margin expansion | 70-80 basis points | FY2026 |
| Earnings per share | $8.50-$8.70 | FY2026 |
| Free cash flow conversion | greater than 100% | FY2026 |
| Gross share repurchases | approximately $2.5 billion | FY2026 |
Organic sales growth (FY2026): “This year, we expect organic sales growth of approximately 3%, adjusted operating margin expansion of 70-80 basis points, and earnings per share of $8.50-$8.70, and free cash flow conversion greater than 100%.”
Adjusted operating margin expansion (FY2026): “This year, we expect organic sales growth of approximately 3%, adjusted operating margin expansion of 70-80 basis points, and earnings per share of $8.50-$8.70, and free cash flow conversion greater than 100%.”
Earnings per share (FY2026): “This year, we expect organic sales growth of approximately 3%, adjusted operating margin expansion of 70-80 basis points, and earnings per share of $8.50-$8.70, and free cash flow conversion greater than 100%.”
Free cash flow conversion (FY2026): “This year, we expect organic sales growth of approximately 3%, adjusted operating margin expansion of 70-80 basis points, and earnings per share of $8.50-$8.70, and free cash flow conversion greater than 100%.”
Gross share repurchases (FY2026): “And we plan to deploy capital effectively, including a gross share repurchase of approximately $2.5 billion in 2026.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q1 FY2025 Earnings Call, Q4 FY2024 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 25.0B | 24.9B | 24.6B | 24.6B | 26.2B | 35.4B |
| Net Income | 2.8B | 3.3B | 4.2B | -7.0B | 5.8B | 5.9B |
| EPS | $5.27 | $6.00 | $7.55 | $-12.63 | $10.18 | $10.12 |
| Free Cash Flow | 2.1B | 1.4B | 638M | 5.1B | 3.8B | 5.9B |
| ROIC | 29.4% | 29.8% | 32.2% | -30.0% | 14.9% | 22.0% |
| Gross Margin | - | 39.9% | 41.2% | 39.1% | 39.4% | 46.8% |
| Debt/Equity | 3.85 | 2.79 | 3.49 | 3.14 | 1.16 | 1.21 |
| Dividends/Share | $3.03 | $2.92 | $3.61 | $6.00 | $5.96 | $5.92 |
| Operating Income | 4.8B | 4.6B | 4.8B | -10.7B | 4.4B | 7.4B |
| Operating Margin | 19.1% | 18.6% | 19.6% | -43.4% | 16.7% | 20.8% |
| ROE | 85.4% | 76.1% | 96.5% | -71.6% | 38.8% | 42.4% |
| Shares Outstanding | 522M | 542M | 553M | 554M | 567M | 585M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 31.8B | 30.3B | 30.1B | 31.7B | 32.8B | 32.1B | 32.2B | 35.4B | 26.2B | 24.6B | 24.6B | 24.9B | 25.0B |
| Gross Margin | 48.3% | 49.2% | 49.8% | 49.3% | 49.1% | 46.7% | 48.4% | 46.8% | 39.4% | 39.1% | 41.2% | 39.9% | N/A |
| R&D | 1.2B | 1.2B | 1.2B | 1.4B | 1.3B | 1.3B | 1.1B | 1.2B | 800M | 700M | 700M | N/A | N/A |
| SG&A | 6.5B | 6.2B | 6.3B | 6.6B | 7.6B | 7.0B | 6.9B | 7.2B | 7.2B | 19.2B | 4.2B | 4.0B | 3.8B |
| EBIT | 7.1B | 6.9B | 7.0B | 7.7B | 7.2B | 6.2B | 7.2B | 7.4B | 4.4B | -10.7B | 4.8B | 4.6B | 4.8B |
| Op. Margin | 22.4% | 22.9% | 23.3% | 24.3% | 22.0% | 19.2% | 22.3% | 20.8% | 16.7% | -43.4% | 19.6% | 18.6% | 19.1% |
| Net Income | 5.0B | 4.8B | 5.0B | 4.9B | 5.3B | 4.5B | 5.4B | 5.9B | 5.8B | -7.0B | 4.2B | 3.3B | 2.8B |
| Net Margin | 15.6% | 16.0% | 16.8% | 15.3% | 16.3% | 14.1% | 16.9% | 16.7% | 22.1% | -28.4% | 17.0% | 13.0% | 11.1% |
| Non-Recurring | 0 | 161M | 111M | 586M | 547M | 114M | 389M | 0 | 3.0B | 36M | 0 | -111M | -111M |
| Returns on Capital | |||||||||||||
| ROIC | 27.6% | 26.1% | 25.4% | 24.5% | 25.8% | 20.1% | 17.8% | 22.0% | 14.9% | -30.0% | 32.2% | 29.8% | 29.4% |
| ROE | 32.4% | 39.4% | 46.5% | 44.4% | 50.1% | 45.5% | 47.5% | 42.4% | 38.8% | -71.6% | 96.5% | 76.1% | 85.4% |
| ROA | 15.3% | 15.0% | 15.4% | 13.7% | 14.4% | 11.1% | 11.8% | 12.5% | 12.4% | -14.4% | 9.2% | 8.4% | 7.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 6.6B | 6.4B | 6.7B | 6.2B | 6.4B | 7.1B | 8.1B | 7.5B | 5.6B | 6.7B | 1.8B | 2.3B | 3.0B |
| Free Cash Flow | 5.1B | 5.0B | 5.2B | 4.9B | 4.9B | 5.4B | 6.6B | 5.9B | 3.8B | 5.1B | 638M | 1.4B | 2.1B |
| Owner Earnings | 4.9B | 4.7B | 4.9B | 4.4B | 4.6B | 5.2B | 5.9B | 5.3B | 3.5B | 4.4B | 167M | 773M | 1.4B |
| CapEx | 1.5B | 1.5B | 1.4B | 1.4B | 1.6B | 1.7B | 1.5B | 1.6B | 1.7B | 1.6B | 1.2B | 910M | 899M |
| Maint. CapEx | 1.4B | 1.4B | 1.5B | 1.5B | 1.5B | 1.6B | 1.9B | 1.9B | 1.8B | 2.0B | 1.4B | 1.3B | 1.3B |
| Growth CapEx | 85M | 26M | 0 | 0 | 89M | 106M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 1.4B | 1.4B | 1.5B | 1.5B | 1.5B | 1.6B | 1.9B | 1.9B | 1.8B | 2.0B | 1.4B | 1.3B | 1.3B |
| CapEx/OCF | 22.5% | 22.8% | 21.3% | 22.0% | 24.5% | 24.0% | 18.5% | 21.5% | 31.3% | 24.2% | 64.9% | 39.5% | 30.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 2.2B | 2.6B | 2.7B | 2.8B | 3.2B | 3.3B | 3.4B | 3.4B | 3.4B | 3.3B | 2.0B | 1.6B | 1.6B |
| Dividend Yield | 4.1% | 4.3% | 4.2% | 3.6% | 3.9% | 4.8% | 5.4% | 4.4% | 5.8% | 7.6% | 3.4% | 1.9% | 1.8% |
| Share Buybacks | 5.7B | 5.2B | 3.8B | 2.1B | 4.9B | 1.4B | 368M | 2.2B | 1.5B | 33M | 1.8B | 3.3B | 4.0B |
| Buyback Yield | 7.4% | 7.6% | 4.6% | 1.9% | 5.5% | 1.7% | 0.4% | 2.5% | 2.4% | 0.1% | 2.6% | 3.7% | 4.4% |
| Stock-Based Comp | 280M | 276M | 298M | 324M | 302M | 278M | 262M | 274M | 263M | 274M | 289M | 225M | 220M |
| Debt Repayment | 2.6B | 3.4B | 992M | 962M | 1.0B | 2.7B | 3.5B | 1.1B | 1.2B | 3.1B | 2.7B | 1.8B | 1.8B |
| Balance Sheet | |||||||||||||
| Net Debt | 3.5B | 9.7B | 8.2B | 10.4B | 11.1B | 18.4B | 14.5B | 13.6B | 13.5B | 9.2B | 7.8B | 7.9B | 8.8B |
| Cash & Equiv. | 1.9B | 1.8B | 2.4B | 3.1B | 2.9B | 2.4B | 4.6B | 4.6B | 3.7B | 5.9B | 5.6B | 5.2B | 3.7B |
| Long-Term Debt | 6.7B | 8.8B | 10.7B | 12.1B | 13.4B | 17.5B | 18.0B | 16.1B | 14.0B | 13.1B | 11.1B | 10.9B | 10.9B |
| Debt/Equity | 0.52 | 1.02 | 1.05 | 1.26 | 1.46 | 2.07 | 1.52 | 1.21 | 1.16 | 3.14 | 3.49 | 2.79 | 3.85 |
| Interest Coverage | 50.2 | 46.6 | 35.3 | 23.9 | 20.6 | 13.8 | 13.5 | 15.1 | 9.5 | -11.3 | 10.2 | 10.3 | 2390.0 |
| Equity | 13.1B | 11.4B | 10.3B | 11.6B | 9.8B | 10.1B | 12.9B | 15.0B | 14.7B | 4.8B | 3.8B | 4.7B | 3.3B |
| Total Assets | 31.4B | 32.9B | 32.9B | 38.0B | 36.5B | 44.7B | 47.3B | 47.1B | 46.5B | 50.6B | 39.9B | 37.7B | 35.4B |
| Total Liabilities | 18.1B | 21.4B | 22.6B | 26.4B | 26.7B | 34.5B | 34.4B | 32.0B | 31.7B | 45.7B | 36.0B | 33.0B | 32.1B |
| Intangibles | 1.4B | 2.6B | 2.3B | 2.9B | 2.7B | 6.4B | 5.8B | 5.3B | 4.7B | 1.3B | 1.2B | 1.1B | 1.1B |
| Retained Earnings | 34.3B | 36.3B | 37.9B | 39.1B | 40.6B | 42.1B | 43.8B | 45.8B | 48.0B | 37.5B | 36.8B | 38.3B | 38.2B |
| Working Capital | 6.3B | 3.9B | 5.5B | 6.6B | 6.5B | 3.7B | 7.0B | 6.4B | 5.2B | 1.1B | 4.6B | 6.8B | 5.4B |
| Current Assets | 12.3B | 11.0B | 11.7B | 14.3B | 13.7B | 13.0B | 15.0B | 15.4B | 14.7B | 16.4B | 15.9B | 16.4B | 14.4B |
| Current Liabilities | 6.0B | 7.1B | 6.2B | 7.7B | 7.2B | 9.2B | 7.9B | 9.0B | 9.5B | 15.3B | 11.3B | 9.6B | 9.0B |
| Per Share Data | |||||||||||||
| EPS | 7.49 | 7.58 | 8.16 | 7.93 | 8.89 | 7.72 | 9.36 | 10.12 | 10.18 | -12.63 | 7.55 | 6.00 | 5.27 |
| Owner EPS | 7.46 | 7.39 | 7.90 | 7.14 | 7.73 | 8.89 | 10.20 | 9.00 | 6.16 | 7.98 | 0.30 | 1.43 | 2.67 |
| Book Value | 19.81 | 17.93 | 16.64 | 18.87 | 16.28 | 17.20 | 22.10 | 25.72 | 25.94 | 8.68 | 6.95 | 8.68 | 6.26 |
| Cash Flow/Share | 10.01 | 10.07 | 10.76 | 10.19 | 10.70 | 12.08 | 13.94 | 12.74 | 9.85 | 12.06 | 3.29 | 4.26 | 7.92 |
| Dividends/Share | 3.59 | 3.08 | 4.44 | 4.70 | 5.44 | 5.76 | 5.88 | 5.92 | 5.96 | 6.00 | 3.61 | 2.92 | 3.03 |
| Shares Out. | 661.7M | 637.6M | 618.9M | 612.6M | 601.7M | 585.1M | 582.2M | 585.1M | 567.5M | 553.8M | 552.7M | 541.7M | 521.6M |
| Valuation | |||||||||||||
| P/E Ratio | 15.5 | 14.3 | 16.0 | 22.4 | 16.5 | 18.1 | 15.5 | 15.0 | 10.3 | N/A | 16.8 | 26.9 | 32.8 |
| P/FCF | 12.5 | 11.6 | 12.9 | 18.7 | 15.1 | 12.9 | 10.6 | 12.7 | 13.0 | 9.5 | 110.2 | 62.6 | 43.7 |
| EV/EBIT | 11.3 | 11.5 | 12.6 | 15.6 | 14.0 | 16.8 | 13.8 | 13.9 | 11.3 | N/A | 16.1 | 20.7 | 20.7 |
| Price/Book | 5.9 | 6.0 | 7.9 | 9.4 | 9.0 | 8.2 | 6.5 | 5.9 | 4.1 | 10.0 | 18.3 | 18.6 | 27.6 |
| Price/Sales | 2.0 | 2.3 | 2.5 | 3.0 | 3.0 | 2.6 | 2.3 | 2.6 | 2.0 | 1.8 | 2.4 | 3.3 | 3.6 |
| FCF Yield | 6.7% | 7.2% | 6.5% | 4.5% | 5.5% | 6.5% | 7.9% | 6.6% | 6.4% | 10.6% | 0.9% | 1.6% | 2.3% |
| Market Cap | 76.7B | 69.0B | 81.0B | 108.6B | 88.0B | 82.8B | 84.2B | 88.8B | 59.8B | 48.0B | 70.3B | 87.4B | 90.0B |
| Avg. Price | 82.14 | 92.43 | 102.11 | 127.48 | 134.60 | 117.87 | 108.56 | 131.87 | 101.69 | 79.10 | 104.91 | 149.71 | 172.62 |
| Year-End Price | 96.96 | 90.51 | 109.45 | 148.27 | 122.28 | 118.31 | 120.95 | 126.89 | 88.08 | 86.61 | 127.20 | 161.36 | 172.62 |
3M CO passes 4 of 9 quality checks, suggesting mixed fundamentals.
3M CO trades at 28.8x trailing earnings, compared to its 15-year median P/E of 16.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 65.1x vs a median of 12.9x. The company's 5-year average ROIC is 13.8% with a gross margin of 41.3%. Total shareholder yield (dividends + buybacks) is 6.2%. At current prices, the estimated annualized return to fair value is -14.7%.
3M CO (MMM) has a net profit margin of 13.0%. This is a healthy margin.
3M CO (MMM) generated $1.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
3M CO (MMM) has a debt-to-equity ratio of 2.79. This indicates higher leverage, which may increase financial risk.
3M CO (MMM) reported earnings per share (EPS) of $6.00 in its most recent fiscal year.
3M CO (MMM) has a return on equity (ROE) of 76.1%. This indicates the company generates strong returns for shareholders.
3M CO (MMM) has a 5-year average gross margin of 41.3%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for 3M CO (MMM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
3M CO (MMM) has a book value per share of $8.68, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects organic sales growth to accelerate through 2026, with all three business groups projected to grow faster than the 2.7% combined rate achieved in 2025, supported by strong backlog coverage, continued new product introductions, and commercial excellence initiatives. Operating margins are anticipated to expand 70–80 basis points for the year, driven by volume growth and productivity gains across supply chain and SG&A that are expected to exceed $450 million, more than offsetting tariff headwinds and growth investments. The company is executing a broad-based transformation including manufacturing footprint optimization, process standardization, and portfolio reshaping to improve resilience and predictability, while maintaining investment in innovation with 350 new product launches planned for 2026. Management remains confident in achieving medium-term commitments outlined at Investor Day, including $1 billion of outperformance versus macro growth and a 25% operating margin target by 2027, with free cash flow conversion expected to exceed 100% and approximately $2.5 billion in gross share repurchases planned for 2026.
Based on recent SEC filings and earnings calls, 3M CO (MMM) has provided the following forward guidance: Organic sales growth: approximately 3% (FY2026); Adjusted operating margin expansion: 70-80 basis points (FY2026); Earnings per share: $8.50-$8.70 (FY2026); Free cash flow conversion: greater than 100% (FY2026); Gross share repurchases: approximately $2.5 billion (FY2026).
No recent press releases.