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3M Company

MMM Industrials Conglomerates

3M Company’s revenue for fiscal 2025 (year ended December 2025) was $24.9 billion, up 1.52% from fiscal 2024.

Revenue
+1.03%
EPS
+69.9%
Free cash flow
−85.5%
Total debt
+19.0%

Quarter to September 2026, against a year earlier

188.13 5.82 −3.00%
Market cap
$97.0B
P/E
27.9×
Fwd P/E
22.7×
Dividend yield
1.63%
F-score
5/9
Altman Z
4.27
Beneish M
−2.26
Dividend safety
43/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Safety and Industrial
  • Transportation and Electronics
  • Consumer
  • Other, not broken out

Every year since 2008 →

Insider Decisions last twelve months

Sold, $m 13.16
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 4 — — — — 4 1 — — —
Insider Ownership 0.48%

Capital & Financial Ratios $m

Size
Market Cap 97,030.00
Revenue ttm 25,247.00
Net income ttm 3,581.00
Free cash flow ttm 2,717.00
Net debt Q 9,852.00
Valuation
P/E 27.87
Forward P/E 22.70
Price / sales 3.87
Forward P/S Powerpack
Price / FCF 35.92
Price / book 23.41 (above 6: high)
Financial health
Current ratio Q 1.41
Debt / equity Q 3.60 (above 2: weak)
Interest coverage Q (42.41)
Growth
Revenue growth Q +1.03% (above 0%: growing)
Operating income growth Q +7.67% (above 0%: growing)
EPS, this year +13.22%
EPS, next year A +9.14%
Revenue, next year A +1.96%
EPS, past 5 yrs −8.29% (below 0%: weak)
EPS, next 5 yrs A +10.33%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.3×, against a ten-year median of 3.3×; over the ten years it ranged from 1.9× in 2022 to 4.4× in 2018.
P/E against its own 10 years 92.77%
10-year low 10-year high
P/S against its own 10 years 98.02%
10-year low 10-year high
P/B against its own 10 years 96.08%
10-year low 10-year high
EV/Sales against its own 10 years 99.30%
10-year low 10-year high
EV/FCF against its own 10 years 88.31%
10-year low 10-year high

Dividends

Yield
1.63%
Annual rate
3.07
Payout ratio
45.8%
Growth, 2017–25
−5.78%/yr
  1. 4.70 ’17
  2. 5.44 ’18 +16
  3. 5.76 ’19 +6
  4. 5.88 ’20 +2
  5. 5.92 ’21 +1
  6. 5.96 ’22 +1
  7. 6.00 ’23 +1
  8. 3.61 ’24 −40
  9. 2.92 ’25 −19
  10. 3.19 ’26e +9
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 5,785 7,728 5,933 5,145
Receivables 3,601 3,194 3,533 4,116
Inventory 3,944 3,698 3,661 4,081
Other 326 771 2,869 2,890
16,379 15,884 16,387 16,714
2023 2024 2025 Q'26
Payables 2,776 2,660 2,702 3,040
ST’ Debt 2,947 1,919 1,670 2,439
Other 6,660 5,965 4,505 5,770
15,297 11,256 9,595 11,868

Compound Annual Growth %

10y 5y 3y
Sales (1.92%) (4.97%) (1.57%)
Cash Flow (9.73%) (22.24%) (25.56%)
Earnings (3.89%) (9.82%) (17.45%)
Book Value (8.44%) (18.16%) (31.50%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.40 Actual 2.50

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.82 1.83 Beat by 0.01
Q1 FY26 2.02 2.14 Beat by 0.12
Q2 FY26 2.27 2.40 Beat by 0.13
Q3 FY26 2.40 2.50 Beat by 0.10
Q4 FY26 2.03 — Reports 19 January 2027

EPS $

Mar Jun Sep Dec Year
’26 1.23 1.78 2.63 — —
’25 2.04 1.34 1.55 1.07 6.00
’24 1.67 2.07 2.48 1.33 7.55
’23 1.76 (12.35) (3.74) 1.70 (12.63)
’22 2.26 0.14 6.77 0.98 10.18
’21 2.77 2.59 2.45 2.31 10.12
’20 2.22 2.22 2.43 2.38 9.25
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 6,030 6,500 6,584 — —
’25 5,954 6,344 6,517 6,133 24,948
’24 6,016 6,255 6,294 6,010 24,575
’23 8,031 6,283 6,270 4,026 24,610
’22 8,829 8,702 8,619 11 26,161
’21 8,851 8,950 8,942 8,612 35,355
’20 8,075 7,176 8,350 8,583 32,184
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 574 986 486 — —
’25 (79) (954) 1,756 1,583 2,306
’24 767 1,021 (1,787) 1,818 1,819
’23 1,275 1,509 1,910 1,986 6,680
’22 1,011 1,127 1,531 1,922 5,591
’21 1,688 1,887 1,874 2,005 7,454
’20 1,213 1,905 2,480 2,515 8,113
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 351 775 230 — —
’25 (297) (1,159) 1,586 1,361 1,491
’24 413 784 (2,031) 1,533 699
’23 803 1,152 1,596 1,633 5,184
’22 643 743 1,105 1,551 4,042
’21 1,410 1,504 1,532 1,456 5,902
’20 888 1,535 2,125 2,192 6,740
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 16.0% a year for ten years. It grew −17.7% a year over the last ten.

Implied
16.0%
10 years, reported
−17.7%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 30,109 31,657 32,765 32,136 32,184 35,355 26,161 24,610 24,575 24,948 25,247 (2.1%) 25,438 26,612 27,695 +3.5%
Gross margin, % 49.79 49.28 49.09 46.68 48.41 46.84 39.40 39.12 41.21 39.91 39.53 (9.9) pt
EBT 7,053 7,548 7,000 5,643 6,795 7,204 4,204 (11,271) 4,819 4,213 4,426 (5.6%)
EBT margin, % 23.42 23.84 21.36 17.56 21.11 20.38 16.07 (45.80) 19.61 16.89 17.53 (6.5) pt
Net income 5,058 4,869 5,363 4,529 5,453 5,929 5,791 (6,979) 4,188 3,262 3,581 (4.8%)
Per share, $
Per share, $ Revenue 49.79 52.98 55.68 55.70 55.72 61.06 46.22 44.43 44.62 46.42 48.66 (0.8%)
Earnings 8.35 8.13 9.09 7.92 9.32 10.23 10.21 (12.63) 7.58 6.05 6.75 (3.5%)
Cash flow 11.02 10.44 10.94 12.25 14.05 12.87 9.88 12.06 3.30 4.29 7.00 (9.9%)
Capex (2.25) (2.22) (2.23) (2.73) (2.38) (2.68) (2.74) (2.70) (2.03) (1.52) (1.76) (4.3%)
Free cash flow 8.76 8.23 8.71 9.52 11.67 10.19 7.14 9.36 1.27 2.77 5.24 (12.0%)
Book value 17.10 19.45 16.73 17.55 22.39 26.11 26.10 8.79 7.07 8.83 8.04 (7.1%)
Shares, m 605 598 589 577 578 579 566 554 551 537 526 (1.3%)
Valuation, ×
Valuation, × P/E 18.28 24.88 17.95 19.12 16.08 14.92 10.33 0.00 17.05 26.51 27.87 16.5
P/S 3.07 3.82 2.94 2.72 2.69 2.50 2.27 2.13 2.89 3.45 3.87 2.8
P/B 8.94 10.40 9.77 8.63 6.70 5.84 4.03 10.74 18.26 18.12 23.41 10.1
EV/Sales 3.37 4.13 3.29 3.27 3.12 2.85 2.74 2.54 3.11 3.72 4.26 3.2
EV/FCF 19.13 26.58 21.01 19.16 14.90 17.09 17.70 12.07 109.33 62.18 39.55 31.9
Cash, $m
Cash, $m Operating cash flow 6,662 6,240 6,439 7,070 8,113 7,454 5,591 6,680 1,819 2,306 3,629 (11.1%)
Capex (1,362) (1,324) (1,315) (1,576) (1,373) (1,552) (1,549) (1,496) (1,120) (815) (912) (5.5%)
Free cash flow 5,300 4,916 5,124 5,494 6,740 5,902 4,042 5,184 699 1,491 2,717 (13.1%)
Balance, $m
Balance, $m Working capital 5,507 6,590 6,465 3,749 7,034 6,368 5,165 1,082 4,628 6,792 4,846 +2.4%
Net debt 8,972 9,820 11,389 17,862 13,757 12,598 12,046 10,250 5,316 6,669 9,852 (3.2%)
Shareholders’ equity 10,343 11,622 9,848 10,126 12,931 15,117 14,770 4,868 3,894 4,747 4,169 (8.3%)
Returns, %
Returns, % ROA 15.35 13.71 14.36 11.13 11.85 12.54 12.35 (14.42) 9.23 8.38 9.17 (7.0) pt
ROIC 22.74 22.42 21.21 13.79 16.77 16.62 10.18 (44.19) 32.72 25.34 21.11 +2.6 pt
ROE 46.31 44.23 49.83 45.23 47.27 42.22 38.66 (71.24) 95.25 75.22 79.96 +28.9 pt
People
People Employees 91,584 91,536 93,516 96,163 94,987 95,000 92,000 85,000 61,500 60,500 — (4.5%)
Revenue/emp, $m 0.33 0.35 0.35 0.33 0.34 0.37 0.28 0.29 0.40 0.41 — +2.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

3M is a diversified global manufacturer, technology innovator and marketer. Founded in 1902 and headquartered in Maplewood, it operates through Safety and Industrial, Transportation and Electronics, and Consumer businesses. William M. Brown is chairman and chief executive officer.

The company turns materials science, adhesives, abrasives, films, ceramics, optical interconnects and other technologies into products used in factories, construction, electrical infrastructure, vehicles, electronics, aerospace, homes and workplaces. Safety and Industrial supplies items such as industrial abrasives, structural adhesives and tapes, electrical products, respiratory protection and roofing granules. Transportation and Electronics sells materials and components for vehicles, displays, semiconductors, aerospace, commercial graphics and data centers. Consumer sells cleaning products, air filters, picture-hanging accessories, stationery, automotive appearance products, and consumer health and safety items.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Safety and Industrial 11,384 45.63%
Transportation and Electronics 8,272 33.16%
Consumer 4,920 19.72%
Other, not broken out 372 1.49%
Gross margin 39.91%
Operating margin 18.55%
Pre-tax margin 16.89%

Revenue by segment since 2008

3M Company vs peers in Conglomerates (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MMM 3M Company $97.0B 27.9× 22.7× +1.03% (above 0%: growing) +69.87% (above 0%: growing) −85.50% (below 0%: shrinking) 42.27% 23.66%
HON Honeywell International Inc. $68.5B 9.7× 9.8× +1.32% (above 0%: growing) −63.59% (below 0%: shrinking) −91.41% (below 0%: shrinking) 40.41% 14.82% Compare
VMI Valmont Industries, Inc. $7.6B 14.7× 18.2× +5.53% (above 0%: growing) +25.30% (above 0%: growing) −22.73% (below 0%: shrinking) 30.02% 15.66% Compare
BBUC Brookfield Business Partners L.P. $6.2B — (loss-making) — (loss-making) −2.96% (below 0%: shrinking) +50.00% (above 0%: growing) −2,167.65% (below 0%: shrinking) 19.59% 15.15% Compare
GHC Graham Holdings Company $5.1B 10.6× 15.5× +3.69% (above 0%: growing) −36.89% (below 0%: shrinking) −42.93% (below 0%: shrinking) 29.58% 6.45% Compare
PAM Pampa Energia S.A. $3.4B 5.1× 7.2× +33.67% (above 0%: growing) +491.30% (above 0%: growing) −965.12% (below 0%: shrinking) 32.91% 18.99% Compare
OTTR Otter Tail Corporation $3.4B 19.0× 21.9× −1.55% (below 0%: shrinking) −24.21% (below 0%: shrinking) +28.54% (above 0%: growing) 54.41% 21.50% Compare
SEB Seaboard Corporation $3.3B 5.9× — (loss-making) +9.09% (above 0%: growing) −73.38% (below 0%: shrinking) +6.17% (above 0%: growing) 4.76% 0.47% Compare
DLX Deluxe Corporation $1.3B 16.1× 9.3× +2.53% (above 0%: growing) −62.16% (below 0%: shrinking) +11.71% (above 0%: growing) 51.92% 9.51% Compare
Median of peers $4.3B 10.6× 12.7× +3.11% −30.55% −32.83% 31.47% 14.98%

All 29 Conglomerates stocks →

From the latest earnings call

Updated

  • CFO Anurag Maheshwari said industrial and safety demand drove quarterly organic growth, while consumer electronics remained weak and retailer inventory adjustments held back consumer sales.
  • CEO Bill Brown said 3M issued Amazon a warrant tied to cumulative data-center product sales and other milestones, but the arrangement carries no volume commitments.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Bank of America Oct 23, 2026 Reiterated Buy 200.00
Bernstein Oct 1, 2026 Upgrade Underperform → Hold 145.00 → 171.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 74.51%
Held by the ten largest 41.06%
Holder Shares Stake Change
Vanguard 49.13m 9.53% −13.50k
BlackRock 45.05m 8.74% +2.39m
JPMorgan Chase 39.43m 7.65% −7.00m
State Street 27.83m 5.40% +105.22k
Geode Capital Management 11.96m 2.32% +59.83k
Capital Group 8.53m 1.65% −792.14k
State Farm 7.93m 1.54% 0.00
Norges Bank 7.81m 1.51% +7.81m
Morgan Stanley 7.63m 1.48% +148.42k
UBS 6.45m 1.25% −1.27m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

3M Company (MMM) Latest News

5 Nov

Impact 3 · · Zacks

4 Nov

Impact 4 · · Proactive Investors
Impact 4 · · 24/7 Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · MarketBeat
Impact 3 · · Simply Wall St.

3 Nov

Impact 4 · · Stocktwits
Impact 4 · · Investing.com
Impact 4 · · PR Newswire

26 Oct

Impact 4 · · The Motley Fool

23 Oct

Impact 4 · · Barchart
Impact 4 · · TheStreet

22 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

21 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · MT Newswires
Impact 4 · · PR Newswire
Impact 4 · · Zacks
Impact 4 · · StockStory

20 Oct

Impact 4 · · StockStory
Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby transcript
Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool
Impact 4 · · 24/7 Wall St.
Impact 4 · · Zacks
Impact 4 · · Proactive Investors
Impact 4 · · MT Newswires earnings
Impact 3 · · Zacks

MMM metrics, ten years each

stockrow.com/MMM · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com