3M Company

MMM · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$85,049	$70,297	$60,379	$66,285	$102,360	$100,723	$101,663	$109,799	$135,633	$102,901	$86,807	$89,187	$79,960	$53,867	$48,412	$51,493	$48,419	$33,639	$50,640	$48,707	$49,566	$53,558	$55,649	$40,201	$38,973	$39,863	$32,942	$23,980	$28,319	$29,023	$23,299	$18,874	$19,743	$18,430	$17,472	$15,837	$14,786	$11,730	$12,295	$11,172	$8,591
Enterprise value	$92,097	$76,280	$71,208	$79,295	$115,976	$115,502	$120,553	$121,315	$145,572	$111,963	$95,773	$92,754	$83,136	$55,873	$50,419	$52,915	$50,990	$38,617	$53,154	$50,407	$50,934	$53,693	$56,820	$42,962	$41,777	$42,744	$35,482	$27,028	$30,717	$30,620	$25,035	$20,791	$20,962	$19,474	$18,687	$17,291	$16,583	$11,586	$12,400	$11,474	$9,289
P/E (TTM) at period end	26.17×	16.85×	–	11.47×	17.29×	18.48×	22.51×	20.53×	27.92×	20.38×	17.96×	18.00×	17.16×	12.12×	11.30×	12.61×	15.16×	9.72×	12.36×	12.65×	15.76×	17.91×	23.16×	20.37×	27.25×	22.37×	18.68×	20.41×	13.35×	19.02×	23.87×	14.28×	15.63×	14.91×	15.14×	12.11×	11.89×	10.16×	13.39×	14.34×	12.94×
P/S (TTM) at period end	3.41×	2.86×	2.45×	2.53×	2.90×	3.13×	3.16×	3.35×	4.28×	3.42×	2.87×	2.80×	2.59×	1.80×	1.63×	1.93×	2.09×	1.33×	2.07×	2.12×	2.34×	2.68×	3.05×	2.46×	2.42×	2.38×	2.10×	1.60×	1.88×	2.04×	1.73×	1.25×	1.41×	1.33×	1.31×	1.22×	1.23×	1.11×	1.30×	1.30×	1.09×
P/B at period end	18.09×	18.30×	12.56×	4.50×	6.80×	7.83×	10.10×	11.21×	11.73×	9.99×	7.60×	6.80×	4.57×	3.07×	3.14×	3.29×	3.79×	3.40×	4.31×	4.89×	4.77×	5.16×	7.06×	6.71×	6.40×	6.10×	5.24×	4.04×	4.78×	4.62×	3.38×	2.80×	3.03×	2.79×	2.78×	2.59×	2.75×	2.13×	2.43×	2.50×	2.14×
EV / EBITDA (TTM)	15.51×	12.33×	–	12.79×	12.49×	12.73×	15.52×	13.95×	15.76×	13.17×	11.38×	10.86×	10.34×	7.19×	6.80×	7.52×	8.54×	6.06×	7.32×	8.08×	8.68×	9.63×	12.15×	10.74×	12.43×	10.47×	9.20×	9.30×	8.67×	9.08×	8.13×	6.20×	6.91×	6.32×	6.38×	5.82×	5.82×	–	–	–	–
EV / Sales (TTM)	3.69×	3.10×	2.89×	3.03×	3.28×	3.59×	3.75×	3.70×	4.60×	3.72×	3.16×	2.91×	2.69×	1.87×	1.70×	1.98×	2.21×	1.53×	2.17×	2.20×	2.41×	2.68×	3.12×	2.63×	2.60×	2.56×	2.27×	1.80×	2.04×	2.15×	1.86×	1.38×	1.50×	1.40×	1.40×	1.33×	1.38×	1.09×	1.32×	1.33×	1.18×
Returns
Return on equity	69.1%	108.6%	(145.5%)	39.2%	39.4%	42.3%	44.9%	54.6%	42.0%	49.0%	42.3%	37.8%	26.6%	25.3%	27.8%	26.1%	25.0%	35.0%	34.9%	38.7%	30.3%	28.8%	30.5%	32.9%	23.5%	27.3%	28.0%	19.8%	35.8%	24.3%	14.2%	19.6%	19.4%	18.7%	18.3%	21.4%	23.1%	20.9%	18.1%	17.5%	16.6%
Return on invested capital	28.3%	33.6%	(50.8%)	15.2%	21.0%	20.5%	17.1%	25.5%	22.0%	25.7%	24.1%	28.5%	22.7%	21.7%	23.6%	23.5%	21.0%	23.6%	27.7%	28.8%	27.5%	29.2%	27.5%	23.6%	17.4%	21.3%	21.4%	14.4%	20.0%	19.5%	15.6%	16.1%	15.5%	16.8%	16.3%	18.0%	18.0%	21.5%	17.9%	17.1%	14.8%
Dividend yield	1.8%	2.8%	5.5%	5.1%	3.3%	3.4%	3.3%	2.9%	2.1%	2.6%	3.0%	2.5%	2.2%	3.0%	3.2%	2.9%	3.0%	4.2%	2.7%	2.8%	2.6%	2.1%	1.9%	2.4%	2.4%	2.3%	2.7%	3.7%	3.1%	2.8%	3.4%	3.9%	3.7%	3.8%	3.9%	4.1%	3.9%	–	–	–	–
Financial health
Current ratio	1.71×	1.41×	1.07×	1.54×	1.70×	1.89×	1.41×	1.89×	1.86×	1.89×	1.54×	2.06×	1.70×	2.20×	2.25×	2.01×	2.20×	1.64×	1.83×	1.22×	1.36×	1.44×	1.52×	1.36×	1.40×	1.34×	1.59×	1.44×	1.55×	1.71×	1.72×	1.92×	1.94×	1.92×	1.73×	1.72×	1.98×	2.00×	2.19×	2.17×	2.20×
Debt / equity	2.68×	3.40×	3.34×	1.08×	1.15×	1.46×	2.02×	1.49×	1.21×	1.13×	0.94×	0.52×	0.34×	0.34×	0.34×	0.35×	0.45×	0.68×	0.42×	0.36×	0.23×	0.27×	0.37×	0.56×	0.48×	0.43×	0.42×	0.52×	0.42×	0.31×	0.29×	0.29×	0.23×	0.22×	0.23×	0.24×	0.42×	0.14×	0.14×	0.19×	0.22×
Effective tax rate	23.8%	16.7%	25.4%	2.9%	17.8%	19.7%	19.5%	23.4%	35.5%	28.3%	29.0%	28.9%	28.1%	29.0%	27.8%	27.7%	30.0%	31.1%	32.1%	30.6%	33.7%	33.0%	32.9%	32.1%	32.1%	34.5%	35.8%	35.1%	36.1%	36.9%	37.5%	36.8%	35.9%	35.7%	37.5%	37.9%	39.9%	38.7%	41.3%	42.2%	39.5%
Share count
Diluted shares outstanding	541	552	554	568	585	582	585	602	613	619	637	662	694	703	719	726	707	707	732	761	777	796	795	791	800	800	813	816	838	852	848	856	869	876	878	884	889	905	913	916	916

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$25,247	$24,948	$24,575	$24,610	$26,161	$35,355	$32,184	$32,136	$32,765	$31,657	$30,109	$30,274	$31,821	$30,871	$29,904	$29,611	$26,662	$23,123	$25,269	$24,462	$22,923	$21,167	$20,011	$18,232	$16,332	$16,079	$16,724	$15,659	$15,021	$15,070	$14,236	$13,460	$15,079	$14,020	$13,883	$13,340	$13,021	$11,990	$10,581	$9,429	$8,602	$7,846
Cost of revenue	($15,267)	($14,991)	($14,447)	($14,983)	($15,853)	($18,795)	($16,605)	($17,136)	($16,682)	($16,055)	($15,118)	($15,351)	($16,447)	($16,106)	($15,685)	($15,693)	($13,831)	($12,109)	($13,379)	($12,735)	($11,586)	($10,408)	($9,958)	($9,285)	($8,496)	($8,749)	($8,787)	($8,852)	($8,705)	($8,580)	($8,099)	($7,720)	($8,995)	($7,453)	($7,259)	($7,089)	($6,875)	($6,246)	($8,066)	($4,949)	($4,567)	($4,302)
Gross profit	$9,980	$9,957	$10,128	$9,627	$10,308	$16,560	$15,579	$15,000	$16,083	$15,602	$14,991	$14,923	$15,374	$14,765	$14,219	$13,918	$12,831	$11,014	$11,890	$11,727	$11,337	$10,759	$10,053	$8,947	$7,836	$7,330	$7,937	$6,807	$6,316	$6,490	$6,137	$5,740	$6,084	$6,567	$6,624	$6,251	$6,146	$5,744	$2,515	$4,480	$4,035	$3,544
Operating expenses
Research and development	($1,213)	($1,169)	($700)	($700)	($800)	($1,200)	($1,100)	($1,253)	($1,253)	($1,352)	($1,248)	($1,220)	($1,193)	($1,150)	($1,079)	($1,036)	($919)	($838)	($851)	($1,372)	($1,352)	($1,274)	($1,143)	($1,102)	($1,070)	($1,084)	($1,101)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($3,691)	($3,997)	($4,221)	($19,198)	($7,232)	($7,197)	($6,929)	($7,029)	($7,602)	($6,626)	($6,311)	($6,233)	($6,469)	($6,384)	($6,102)	($6,170)	($5,479)	($4,907)	($5,245)	($5,015)	($4,828)	($4,601)	($4,332)	($4,039)	($3,720)	($4,061)	($3,963)	($3,879)	($3,784)	($3,815)	($3,646)	($3,440)	($3,833)	($3,535)	($3,543)	($3,323)	($3,174)	($2,894)	–	($2,338)	($2,118)	($1,950)
Total operating expenses	($5,245)	($5,328)	($5,306)	($20,316)	($5,939)	($9,191)	($8,418)	($8,826)	($8,876)	($7,910)	($7,964)	($7,943)	($8,239)	($8,099)	($7,736)	($7,740)	($6,913)	($6,200)	($6,672)	($5,534)	($6,180)	($5,875)	($5,475)	($5,234)	($4,790)	($5,057)	($4,879)	($3,851)	($4,277)	($3,815)	($3,646)	($3,519)	($3,833)	($4,611)	($4,630)	($4,292)	($3,955)	($3,594)	($632)	($2,902)	($2,625)	($2,394)
Total costs and expenses	($20,512)	($20,319)	($19,753)	($35,299)	($21,792)	($27,986)	($25,023)	($25,962)	($25,558)	($23,965)	($23,082)	($23,294)	($24,686)	($24,205)	($23,421)	($23,433)	($20,744)	($18,309)	($20,051)	($18,269)	($17,766)	($16,283)	($15,433)	($14,519)	($13,286)	($13,806)	($13,666)	($12,703)	($12,982)	($12,395)	($11,745)	($11,239)	($12,828)	($12,064)	($11,889)	($11,381)	($10,830)	($9,840)	($8,698)	($7,851)	($7,192)	($6,696)
Operating income	$4,735	$4,629	$4,822	($10,689)	$4,369	$7,369	$7,161	$6,174	$7,207	$7,692	$7,027	$6,980	$7,135	$6,666	$6,483	$6,178	$5,918	$4,814	$5,218	$6,193	$5,157	$4,884	$4,578	$3,713	$3,046	$2,273	$3,058	$2,956	$2,039	$2,675	$2,491	$2,221	$2,251	$1,956	$1,994	$1,959	$2,191	$2,150	$1,883	$1,578	$1,410	$1,150
Earnings
EBITDA	$6,162	$5,937	$6,185	($8,702)	$6,200	$9,284	$9,072	$7,767	$8,695	$9,236	$8,501	$8,415	$8,543	$8,037	$7,771	$7,414	$7,038	$5,971	$6,371	$7,265	$6,236	$5,870	$5,577	$4,677	$4,000	$3,362	$4,083	$3,856	$2,905	$3,545	$3,374	$3,080	$3,352	$3,032	$3,081	$2,928	$2,972	$2,850	–	–	–	–
Interest income	$184	$232	$452	$250	$65	$26	$29	$80	$70	$50	$29	$26	$33	$41	$39	$39	$38	$37	$105	$132	$51	$56	$46	$28	$39	$37	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($855)	($946)	($1,191)	($942)	($462)	($488)	($529)	($448)	($350)	($322)	($199)	($149)	($142)	($145)	($171)	($186)	($201)	($219)	($215)	($210)	($122)	($82)	($69)	($84)	($80)	($124)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$4,426	$4,213	$4,819	($11,271)	$6,392	$7,204	$6,795	$5,712	$7,000	$7,548	$7,053	$6,823	$7,026	$6,562	$6,351	$6,031	$5,755	$4,632	$5,108	$6,115	$5,625	$4,828	$4,555	$3,657	$3,005	$2,186	$2,974	$2,880	$1,952	$3,440	$2,402	$2,091	$2,093	$1,970	$1,923	$1,845	$2,106	$2,069	$1,882	$1,565	$1,348	$1,097
Income tax expense	($850)	($1,003)	($804)	$2,867	($188)	($1,285)	($1,337)	($1,114)	($1,637)	($2,679)	($1,995)	($1,982)	($2,028)	($1,841)	($1,840)	($1,674)	($1,592)	($1,388)	($1,588)	($1,964)	($1,723)	($1,627)	($1,503)	($1,202)	($966)	($702)	($1,025)	($1,032)	($685)	($1,241)	($886)	($785)	($771)	($707)	($687)	($691)	($798)	($825)	($728)	($647)	($569)	($433)
Net income	$3,536	$3,250	$4,173	($6,995)	$5,777	$5,921	$5,449	$4,517	$5,349	$4,858	$5,050	$4,833	$4,956	$4,659	$4,444	$4,283	$4,085	$3,193	$3,460	$4,096	$3,851	$3,146	$2,990	$2,403	$1,974	$1,430	$1,782	$1,763	$1,175	$2,121	$1,526	$976	$1,322	$1,263	$1,236	$1,154	$1,308	$1,244	$1,154	$918	$779	$664
Per share
Diluted EPS (GAAP)	$6.71	$6.00	$7.55	($12.63)	$10.18	$10.12	$9.36	$7.72	$8.89	$7.93	$8.16	$7.58	$7.49	$6.72	$6.32	$5.96	$5.63	$4.52	$4.89	$5.60	$5.06	$4.12	$3.75	$3.02	$2.50	$1.79	$2.23	$2.17	$1.44	$2.53	$1.79	$1.15	$1.54	$1.45	$1.41	$1.31	$1.48	$1.40	$1.28	$1.00	$0.85	$0.72
Basic EPS (GAAP)	$6.75	$6.05	$7.58	($12.63)	$10.21	$10.23	$9.43	$7.83	$9.09	$8.13	$8.35	$7.72	$7.63	$6.83	$6.40	$6.05	$5.72	$4.56	$4.95	$5.70	$5.15	$4.18	$3.83	$3.07	$2.53	$1.81	$2.25	$2.19	$1.46	$2.57	$1.82	$1.16	$1.56	$1.45	$1.41	$1.31	$1.48	$1.40	$1.28	$1.00	$0.85	$0.72
Basic shares outstanding	525	537	551	554	566	579	578	577	588	598	605	626	649	682	694	708	714	700	699	718	748	765	780	783	780	789	791	805	807	825	836	840	846	869	876	878	884	889	905	913	916	916
Margins
Gross margin	39.5%	39.9%	41.2%	39.1%	39.4%	46.8%	48.4%	46.7%	49.1%	49.3%	49.8%	49.3%	48.3%	47.8%	47.5%	47.0%	48.1%	47.6%	47.1%	47.9%	49.5%	50.8%	50.2%	49.1%	48.0%	45.6%	47.5%	43.5%	42.0%	43.1%	43.1%	42.6%	40.3%	46.8%	47.7%	46.9%	47.2%	47.9%	23.8%	47.5%	46.9%	45.2%
Operating margin	18.8%	18.6%	19.6%	(43.4%)	16.7%	20.8%	22.3%	19.2%	22.0%	24.3%	23.3%	23.1%	22.4%	21.6%	21.7%	20.9%	22.2%	20.8%	20.6%	25.3%	22.5%	23.1%	22.9%	20.4%	18.7%	14.1%	18.3%	18.9%	13.6%	17.8%	17.5%	16.5%	14.9%	14.0%	14.4%	14.7%	16.8%	17.9%	17.8%	16.7%	16.4%	14.7%
Net margin	14.0%	13.0%	17.0%	(28.4%)	22.1%	16.7%	16.9%	14.1%	16.3%	15.3%	16.8%	16.0%	15.6%	15.1%	14.9%	14.5%	15.3%	13.8%	13.7%	16.7%	16.8%	14.9%	14.9%	13.2%	12.1%	8.9%	10.7%	11.3%	7.8%	14.1%	10.7%	7.3%	8.8%	9.0%	8.9%	8.7%	10.0%	10.4%	10.9%	9.7%	9.1%	8.5%

Analyst consensus

Buy33 analysts

Bearish · 1 · Hold · 16 · Bullish · 16

Earnings history

	EPS	Estimate
Q4 2024	$1.68	$1.67	Beat
Q1 2025	$1.88	$1.78	Beat
Q2 2025	$2.16	$2.01	Beat
Q3 2025	$2.19	$2.07	Beat
Q4 2025	$1.83	$1.80	Beat
Q1 2026	$2.14	$1.98	Beat
Q2 2026	$2.40	$2.25	Beat
Q3 2026	$2.50	$2.38	Beat

Peers

Company overview

IPO dateJan 14, 1946

CEOWilliam Brown

Employees60,500

SectorIndustrials

IndustryConglomerates

CountryUS

ExchangeNew York Stock Exchange

Websitewww.3m.com

3M Company operates as a global technology conglomerate with diverse interests. Its extensive operations are strategically divided into four primary business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial division supplies a broad array of products, including specialized abrasives and finishing tools for metalworking, automotive body repair kits, fastening systems for personal hygiene items, various masking and packaging materials, electrical components for construction, maintenance, and power distribution, strong structural adhesives and tapes, comprehensive personal protective equipment for respiratory, auditory, visual, and fall protection, and mineral granules for roofing shingles. Within the Transportation and Electronics sector, offerings encompass advanced ceramic solutions, specialized attachment tapes and films, sophisticated sound and temperature management systems for vehicles, high-quality large-format graphic films for advertising and fleet branding, optical films, electronic assembly solutions, robust packaging and interconnection technologies, and reflective materials crucial for highway and vehicle safety. The Health Care segment provides essential solutions such as food safety indicators, software for medical procedure coding and reimbursement, a wide range of products for skin and wound care, infection prevention, dental and orthodontic supplies, and advanced filtration and purification systems. Finally, the Consumer unit delivers an assortment of household and personal products, including bandages, braces, support devices, and personal respirators; various home cleaning supplies; retail-grade abrasives, paint accessories, DIY car care products, picture hanging solutions, and consumer-focused air quality improvements; along with a selection of stationery items. The company distributes its extensive product portfolio through both online platforms and a comprehensive traditional network, leveraging wholesalers, retailers, jobbers, distributors, and authorized dealers. This enterprise was founded in 1902 and maintains its corporate headquarters in St. Paul, Minnesota.

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