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3M CO (MMM) Stock Fundamental Analysis

NYSE:MMM - US88579Y1010 - Common Stock

155.53 USD
-2.03 (-1.29%)
Last: 8/29/2025, 8:04:00 PM
156.05 USD
+0.52 (+0.33%)
After Hours: 8/29/2025, 8:04:00 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to MMM. MMM was compared to 7 industry peers in the Industrial Conglomerates industry. MMM has an excellent profitability rating, but there are some minor concerns on its financial health. MMM is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year MMM was profitable.
In the past year MMM has reported a negative cash flow from operations.
Of the past 5 years MMM 4 years were profitable.
In the past 5 years MMM always reported a positive cash flow from operatings.
MMM Yearly Net Income VS EBIT VS OCF VS FCFMMM Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B

1.2 Ratios

Looking at the Return On Assets, with a value of 10.37%, MMM belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
Looking at the Return On Equity, with a value of 91.82%, MMM belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
The Return On Invested Capital of MMM (13.42%) is better than 100.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for MMM is above the industry average of 8.05%.
The last Return On Invested Capital (13.42%) for MMM is above the 3 year average (11.12%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 10.37%
ROE 91.82%
ROIC 13.42%
ROA(3y)3.02%
ROA(5y)6.63%
ROE(3y)0.78%
ROE(5y)16.81%
ROIC(3y)11.12%
ROIC(5y)12.9%
MMM Yearly ROA, ROE, ROICMMM Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 100 -100

1.3 Margins

The Profit Margin of MMM (16.01%) is better than 100.00% of its industry peers.
MMM's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 19.75%, MMM belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
MMM's Operating Margin has been stable in the last couple of years.
MMM has a better Gross Margin (41.11%) than 100.00% of its industry peers.
MMM's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 19.75%
PM (TTM) 16.01%
GM 41.11%
OM growth 3Y-1.29%
OM growth 5Y0.76%
PM growth 3Y0.46%
PM growth 5Y3.85%
GM growth 3Y-4.12%
GM growth 5Y-2.49%
MMM Yearly Profit, Operating, Gross MarginsMMM Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40

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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so MMM is still creating some value.
Compared to 1 year ago, MMM has less shares outstanding
MMM has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, MMM has a worse debt to assets ratio.
MMM Yearly Shares OutstandingMMM Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
MMM Yearly Total Debt VS Total AssetsMMM Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

An Altman-Z score of 4.11 indicates that MMM is not in any danger for bankruptcy at the moment.
MMM has a better Altman-Z score (4.11) than 100.00% of its industry peers.
MMM has a Debt/Equity ratio of 2.91. This is a high value indicating a heavy dependency on external financing.
MMM has a Debt to Equity ratio of 2.91. This is comparable to the rest of the industry: MMM outperforms 57.14% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.91
Debt/FCF N/A
Altman-Z 4.11
ROIC/WACC1.68
WACC7.97%
MMM Yearly LT Debt VS Equity VS FCFMMM Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.3 Liquidity

A Current Ratio of 1.72 indicates that MMM should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.72, MMM belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
A Quick Ratio of 1.20 indicates that MMM should not have too much problems paying its short term obligations.
MMM has a Quick ratio of 1.20. This is in the better half of the industry: MMM outperforms 71.43% of its industry peers.
Industry RankSector Rank
Current Ratio 1.72
Quick Ratio 1.2
MMM Yearly Current Assets VS Current LiabilitesMMM Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

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3

3. Growth

3.1 Past

MMM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -18.26%.
The Earnings Per Share has been decreasing by -2.72% on average over the past years.
MMM shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -13.97%.
The Revenue has been decreasing by -5.22% on average over the past years.
EPS 1Y (TTM)-18.26%
EPS 3Y-7.61%
EPS 5Y-2.72%
EPS Q2Q%11.92%
Revenue 1Y (TTM)-13.97%
Revenue growth 3Y-11.42%
Revenue growth 5Y-5.22%
Sales Q2Q%2.31%

3.2 Future

MMM is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.70% yearly.
Based on estimates for the next years, MMM will show a small growth in Revenue. The Revenue will grow by 3.50% on average per year.
EPS Next Y0.07%
EPS Next 2Y3.74%
EPS Next 3Y5.68%
EPS Next 5Y4.7%
Revenue Next Year2.47%
Revenue Next 2Y2.63%
Revenue Next 3Y2.72%
Revenue Next 5Y3.5%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MMM Yearly Revenue VS EstimatesMMM Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 10B 20B 30B
MMM Yearly EPS VS EstimatesMMM Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8 10

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 20.20, which indicates a rather expensive current valuation of MMM.
MMM's Price/Earnings ratio is rather cheap when compared to the industry. MMM is cheaper than 100.00% of the companies in the same industry.
MMM's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.13.
The Price/Forward Earnings ratio is 18.11, which indicates a rather expensive current valuation of MMM.
Based on the Price/Forward Earnings ratio, MMM is valued a bit cheaper than 71.43% of the companies in the same industry.
MMM is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.76, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 20.2
Fwd PE 18.11
MMM Price Earnings VS Forward Price EarningsMMM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MMM indicates a somewhat cheap valuation: MMM is cheaper than 71.43% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 15.03
MMM Per share dataMMM EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates MMM does not grow enough to justify the current Price/Earnings ratio.
MMM has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)271.88
PEG (5Y)N/A
EPS Next 2Y3.74%
EPS Next 3Y5.68%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.85%, MMM has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.85, MMM pays a bit more dividend than its industry peers.
Compared to the average S&P500 Dividend Yield of 2.32, MMM is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.85%

5.2 History

The dividend of MMM decreases each year by -8.81%.
MMM has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-8.81%
Div Incr Years0
Div Non Decr Years0
MMM Yearly Dividends per shareMMM Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3 4 5

5.3 Sustainability

39.27% of the earnings are spent on dividend by MMM. This is a low number and sustainable payout ratio.
DP39.27%
EPS Next 2Y3.74%
EPS Next 3Y5.68%
MMM Yearly Income VS Free CF VS DividendMMM Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B -4B 6B -6B
MMM Dividend Payout.MMM Dividend Payout, showing the Payout Ratio.MMM Dividend Payout.PayoutRetained Earnings

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3M CO

NYSE:MMM (8/29/2025, 8:04:00 PM)

After market: 156.05 +0.52 (+0.33%)

155.53

-2.03 (-1.29%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryIndustrial Conglomerates
Earnings (Last)07-18 2025-07-18/bmo
Earnings (Next)10-20 2025-10-20/amc
Inst Owners74.28%
Inst Owner Change1.56%
Ins Owners0.03%
Ins Owner Change0.33%
Market Cap82.84B
Analysts75.65
Price Target162.11 (4.23%)
Short Float %1.73%
Short Ratio2.61
Dividend
Industry RankSector Rank
Dividend Yield 1.85%
Yearly Dividend3.63
Dividend Growth(5Y)-8.81%
DP39.27%
Div Incr Years0
Div Non Decr Years0
Ex-Date08-25 2025-08-25 (0.73)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.8%
Min EPS beat(2)5.42%
Max EPS beat(2)6.18%
EPS beat(4)4
Avg EPS beat(4)3.66%
Min EPS beat(4)0.09%
Max EPS beat(4)6.18%
EPS beat(8)8
Avg EPS beat(8)7.24%
EPS beat(12)11
Avg EPS beat(12)8.66%
EPS beat(16)15
Avg EPS beat(16)8.93%
Revenue beat(2)0
Avg Revenue beat(2)-0.44%
Min Revenue beat(2)-0.6%
Max Revenue beat(2)-0.28%
Revenue beat(4)0
Avg Revenue beat(4)-0.55%
Min Revenue beat(4)-0.8%
Max Revenue beat(4)-0.28%
Revenue beat(8)2
Avg Revenue beat(8)-0.27%
Revenue beat(12)4
Avg Revenue beat(12)0.18%
Revenue beat(16)6
Avg Revenue beat(16)0.26%
PT rev (1m)3.3%
PT rev (3m)6.26%
EPS NQ rev (1m)-0.24%
EPS NQ rev (3m)-2.93%
EPS NY rev (1m)2.97%
EPS NY rev (3m)3.36%
Revenue NQ rev (1m)0.02%
Revenue NQ rev (3m)2.3%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.13%
Valuation
Industry RankSector Rank
PE 20.2
Fwd PE 18.11
P/S 3.37
P/FCF N/A
P/OCF N/A
P/B 19.31
P/tB N/A
EV/EBITDA 15.03
EPS(TTM)7.7
EY4.95%
EPS(NY)8.59
Fwd EY5.52%
FCF(TTM)-3.72
FCFYN/A
OCF(TTM)-1.88
OCFYN/A
SpS46.19
BVpS8.05
TBVpS-6.21
PEG (NY)271.88
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 10.37%
ROE 91.82%
ROCE 16.1%
ROIC 13.42%
ROICexc 15.59%
ROICexgc 22.04%
OM 19.75%
PM (TTM) 16.01%
GM 41.11%
FCFM N/A
ROA(3y)3.02%
ROA(5y)6.63%
ROE(3y)0.78%
ROE(5y)16.81%
ROIC(3y)11.12%
ROIC(5y)12.9%
ROICexc(3y)13.89%
ROICexc(5y)15.46%
ROICexgc(3y)26.14%
ROICexgc(5y)32.17%
ROCE(3y)13.54%
ROCE(5y)15.6%
ROICexcg growth 3Y-10.19%
ROICexcg growth 5Y-4.14%
ROICexc growth 3Y2.14%
ROICexc growth 5Y4.95%
OM growth 3Y-1.29%
OM growth 5Y0.76%
PM growth 3Y0.46%
PM growth 5Y3.85%
GM growth 3Y-4.12%
GM growth 5Y-2.49%
F-Score4
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 2.91
Debt/FCF N/A
Debt/EBITDA 2.05
Cap/Depr 80.94%
Cap/Sales 3.99%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.72
Quick Ratio 1.2
Altman-Z 4.11
F-Score4
WACC7.97%
ROIC/WACC1.68
Cap/Depr(3y)87.82%
Cap/Depr(5y)85.14%
Cap/Sales(3y)5.49%
Cap/Sales(5y)5.14%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-18.26%
EPS 3Y-7.61%
EPS 5Y-2.72%
EPS Q2Q%11.92%
EPS Next Y0.07%
EPS Next 2Y3.74%
EPS Next 3Y5.68%
EPS Next 5Y4.7%
Revenue 1Y (TTM)-13.97%
Revenue growth 3Y-11.42%
Revenue growth 5Y-5.22%
Sales Q2Q%2.31%
Revenue Next Year2.47%
Revenue Next 2Y2.63%
Revenue Next 3Y2.72%
Revenue Next 5Y3.5%
EBIT growth 1Y-11.39%
EBIT growth 3Y-12.56%
EBIT growth 5Y-4.5%
EBIT Next Year34.69%
EBIT Next 3Y14.82%
EBIT Next 5Y9.76%
FCF growth 1Y-144.62%
FCF growth 3Y-52.23%
FCF growth 5Y-34.69%
OCF growth 1Y-116.06%
OCF growth 3Y-37.51%
OCF growth 5Y-23.78%