— Know what they know.
/
Not Investment Advice

MMM

NYSE · USD
3M Company
Industrials · Conglomerates
CEO William Brown Employees 60,500 R&D / revenue 4.7%
Last price
$164.72−0.37%last session
Market cap
$84.9B
P/E (TTM)
29.1x
From 52w high
−10.9%
From 52w low
+18.2%
1-year return
+9.3%
RSI 14 · vs SMA200
48.2 · +2.6%
IS score
52.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

MMM   SPY   XLI (sector ETF) · weekly closes
100110120Jan 26Apr 26Jul 26Oct 26SPY 116XLI 111MMM 109

Score DNA

Each bar is a 0-100 score within the scored universe
61
Profitability
33
Growth
43
Value
57
Momentum
100
Risk (safety)
57
Quality
44
Balance sheet
74
Earnings quality

Flags

Strengths
None of the computed strength flags fires.
Warnings
None of the computed warning flags fires for MMM (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 6 / 9Altman Z 4.4Beta 1.072 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
5 open-market sales, $4.3M
Form 144 notices (12m): 15, $23.8M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+77
198 new holders, 101 closed
2,220 filers hold 74.4% · 719 added, 851 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+177
1,251 funds adding shares
1,074 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
55.6%
20-day avg 55.1%, 50-day avg 48.8%
Latest 0.5 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$24.9B
Revenue growth YoY+1.5%
Gross margin39.6%
Operating income$4.6B
Operating margin18.3%
Net income$3.2B
Net margin13.0%
EPS (diluted)$6.00
Cash flow
Operating cash flow$2.3B
Capital expenditure$910.0M
Free cash flow$1.4B
FCF conversion (FCF / OCF)60.5%
Stock-based compensation$225.0M
FCF less SBC$1.2B
Buybacks$4.8B
Dividends$1.2B
Balance sheet & returns
Cash & short-term investments$5.9B
Total debt$12.8B
Net debt$6.8B
Shareholders' equity$4.7B
Goodwill & intangibles$7.5B
Debt / equity4.25
ROE (TTM)77.1%
ROIC (TTM)14.6%
Operating margin by fiscal year
21.3%FY202111.9%FY202216.6%FY202320.1%FY202418.9%FY2025
Revenue $35.4B (FY2021) to $24.9B (FY2025), a -8.3% CAGR.

Valuation

P/E (TTM)29.1x
EV / EBITDA16.3x
Price / sales3.37x
Price / FCF21.3x
FCF yield4.69%
Buyback yield5.67%
SBC / revenue0.4%
Price / book29.26x
Forward P/E FY202618.4x
Forward P/E FY202716.7x
Forward P/E FY202815.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $183.50 across 6 analysts last quarter is theirs, not ours.

MMM vs industry median

143 companies in Conglomerates
Gross margin 39.4% 24.9% Operating margin 19.0% 6.0% Net margin 11.9% 5.2% ROIC 14.6% 5.1%
MMM (TTM)Industry median Asset turnover 0.72 vs industry 0.48 · financial leverage 11.83

Earnings delivery

Next report 2026-10-20 · consensus EPS $2.39
100%
beat rate, 12 of 12 quarters
+6.2%
median EPS surprise
12
longest beat streak
+15+5+14+15+4+1+6+7+6+2+8+7
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-24 to 2026-07-21. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
MMM 3M Company $84.9B29.1x77.1%11.9%+1.5% +9.3%
HON Honeywell International Inc. $67.0B8.2x47.4%58.5%−9.7% +7.3%
VMI Valmont Industries, Inc. $8.6B17.5x30.4%10.7%+3.8% +9.4%
CTAS Cintas Corporation $84.9B41.7x41.4%18.3%+9.5% +17.1%
HWM Howmet Aerospace Inc. $88.1B47.3x34.7%21.0%+18.1% +15.3%
EMR Emerson Electric Co. $90.1B35.2x12.8%14.7%+4.8% —
CSX CSX Corporation $90.2B28.1x24.4%25.5%+2.5% —
WM Waste Management, Inc. $90.7B32.0x29.8%11.7%+7.2% —
12-month window: SPY +15.9%, sector ETF XLI +10.7%. Past returns describe history only.

Recent 8-K filings

2026-09-10Other Events; Exhibits
2026-08-19Material Agreement; Termination of Agreement; Financial Obligation
2026-07-21Earnings Release; Exhibits
2026-06-08Officer/Director Change; Exhibits
2026-05-13Shareholder Vote
2026-05-06Material Agreement; Financial Obligation

Context

Shares outstanding515,722,417
Free float99.9%
Institutional ownership74.4%
Beta1.07
Dividend yield1.86%
Last dividend$0.78 on 2026-08-24
50 / 200-day average$170.61 / $160.69
Large-cap Industrials median P/E29.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where MMM sits among 13 scored companies in Conglomerates (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureMMMIndustry medianIndustry percentileSector median
P/E (TTM) 28.3x 17.3x
83rd		 25.4x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 3.4x 1.9x
75th		 2.0x
Price / book 28.8x 2.0x
92nd		 2.9x
Price / tangible book —
Price / free cash flow 21.3x 21.3x
60th		 20.8x
Price / operating cash flow 17.3x 14.0x
78th		 14.5x
Enterprise value $94.2B $4.1B
100th		 $4.8B
EV / sales 3.7x 2.2x
75th		 2.4x
EV / EBITDA 16.3x 11.5x
80th		 13.6x
EV / EBIT 21.4x 17.2x
78th		 19.9x
EV / free cash flow 23.6x 23.6x
60th		 24.3x
Earnings yield 3.5% 1.4%
58th		 3.3%
FCF yield 4.7% -0.6%
75th		 3.8%
Operating cash flow yield 5.8% 6.3%
42nd		 6.2%
Graham number (per share) $26.74 $183.47
17th		 $38.21

Profitability (TTM)

MeasureMMMIndustry medianIndustry percentileSector median
Gross margin 39.4% 36.6%
67th		 30.5%
EBITDA margin 23.0% 16.0%
67th		 14.3%
Operating margin 19.0% 4.6%
100th		 9.8%
EBIT margin 17.5% 13.9%
83rd		 9.9%
Net margin 11.9% 6.2%
83rd		 6.0%
NOPAT margin 14.6% 4.4%
92nd		 7.8%
FCF margin 15.8% -0.2%
100th		 7.0%
Operating cash flow margin 19.5% 6.3%
83rd		 11.2%
R&D / revenue 4.8% 0.0%
90th		 0.0%
SG&A / revenue 14.3% 14.7%
42nd		 14.1%
Stock comp / revenue 0.4% 0.7%
27th		 0.6%
Effective tax rate 23.0% 21.0%
91st		 21.0%

Returns on capital

MeasureMMMIndustry medianIndustry percentileSector median
ROE (on average equity) 82.8% 1.3%
100th		 11.9%
ROA 8.2% 1.0%
83rd		 4.8%
ROIC 30.3% 6.1%
100th		 8.7%
ROCE 18.7% 5.0%
83rd		 9.4%
Return on tangible assets 12.1% 5.2%
83rd		 7.9%
Cash ROIC (OCF / invested capital) 40.2% 6.6%
100th		 12.8%
Gross profitability (GP / assets) 28.4% 18.3%
83rd		 19.2%
ROIC, 3-yr average 18.2% 7.7%
100th		 7.8%
ROIC, 5-yr average 13.9% 6.3%
89th		 8.6%
ROE, 5-yr average 45.8% 7.7%
100th		 12.5%
Incremental ROIC -26.0% 7.8%
17th		 20.5%

Growth

MeasureMMMIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 2.3% 4.8%
33rd		 8.6%
Revenue growth (QoQ) 7.8% 5.4%
67th		 9.9%
Revenue CAGR, 3 yr -6.7% -1.2%
20th		 5.0%
Revenue CAGR, 5 yr -6.2% 1.8%
11th		 8.3%
Gross profit CAGR, 3 yr -9.2% -0.9%
10th		 6.5%
Operating income CAGR, 3 yr 1.2% 4.3%
43rd		 6.4%
Net income growth (TTM YoY) -23.9% 11.6%
20th		 11.3%
Net income CAGR, 3 yr —
EPS growth (TTM YoY) -21.5% 55.7%
20th		 13.3%
EPS CAGR, 3 yr —
EPS CAGR, 5 yr -11.0% 8.8%
0th		 8.3%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr -3.6% — 12.2%
Operating cash flow CAGR, 3 yr -7.7% 4.4%
12th		 8.8%
Book value CAGR, 3 yr -26.5% 5.2%
20th		 7.3%
Dividend CAGR, 3 yr 46.0% 6.3%
88th		 2.7%
Sustainable growth rate -43.8% 11.2%
0th		 11.0%

Margin history & stability

MeasureMMMIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 40.1% 32.7%
67th		 30.6%
Operating margin, 3-yr average 19.0% 4.1%
92nd		 10.0%
Net margin, 3-yr average 10.6% 3.5%
83rd		 6.2%
FCF margin, 3-yr average 8.4% 0.0%
83rd		 7.1%
Revenue stability (0-1) 0.82 0.47
75th		 0.81
Earnings stability (0-1) 0.07 0.28
8th		 0.47
Margin stability (0-1) 0.91 0.90
67th		 0.90

Liquidity (latest quarter)

MeasureMMMIndustry medianIndustry percentileSector median
Cash & short-term investments $3.3B $139.1M
83rd		 $249.6M
Net cash (− = net debt) −$9.2B −$590.6M
17th		 −$666.5M
Working capital $2.7B $408.2M
83rd		 $376.4M
Current ratio 1.24 1.79
25th		 1.79
Quick ratio 0.91 1.10
17th		 1.33
Cash ratio (cash + ST investments / current liabilities) 0.29 0.29
50th		 0.32
Defensive interval (days) 515 days 533 days
42nd		 614 days

Leverage & solvency (latest quarter)

MeasureMMMIndustry medianIndustry percentileSector median
Total debt $12.6B $1.3B
83rd		 $919.8M
Debt / equity 4.25 1.24
83rd		 0.65
Net debt / equity 3.12 1.03
75th		 0.46
Debt / assets 35.9% 29.5%
58th		 29.3%
Debt / capital 81.0% 55.3%
83rd		 39.5%
Debt / EBITDA 2.17 3.41
30th		 2.44
Net debt / EBITDA 1.59 2.32
30th		 1.86
Interest coverage (EBIT / interest) 6.6x 4.0x
73rd		 5.0x
Cash interest coverage 7.3x 2.4x
82nd		 6.1x
Debt payback (years of OCF) 2.6 yrs 5.4 yrs
11th		 3.2 yrs
Liabilities / assets 91.4% 56.3%
100th		 56.7%
IS credit model rating A+ — —
Implied credit spread (bps) 125 350
17th		 200

Efficiency

MeasureMMMIndustry medianIndustry percentileSector median
Asset turnover 0.69 0.59
75th		 0.75
Fixed asset turnover 3.66 4.71
42nd		 5.14
Inventory turnover 3.9 4.9
30th		 5.0
Receivables turnover 6.6 6.5
58th		 6.7
Days sales outstanding 56 days 56 days
42nd		 54 days
Days inventory outstanding 94 days 74 days
70th		 72 days
Days payables outstanding 71 days 53 days
67th		 41 days
Cash conversion cycle (days) 78 days 71 days
67th		 63 days
Capex / revenue 3.6% 2.3%
67th		 3.0%
Capex / depreciation 0.66 0.66
50th		 0.76
Operating expense ratio 26.1% 23.7%
58th		 17.7%

Cash flow & earnings quality

MeasureMMMIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.63 0.96
67th		 1.50
FCF / net income 1.33 0.44
100th		 1.15
FCF / operating cash flow 81.3% 61.6%
89th		 74.0%
Capex / operating cash flow 18.7% 38.4%
11th		 26.1%
Accruals ratio -5.2% 0.6%
25th		 -4.0%
Sloan accruals ratio -11.7% -0.8%
0th		 -2.4%
Earnings quality score (0-1) 0.75 0.75
50th		 1.00

Dividends & buybacks

MeasureMMMIndustry medianIndustry percentileSector median
Dividend yield 1.9% 0.6%
75th		 0.6%
Dividend per share (TTM) $3.07 $1.02
75th		 $0.44
Payout ratio (dividends / net income) 152.9% 11.1%
100th		 22.5%
Dividends / FCF 115.0% 37.5%
100th		 19.6%
Dividend growth (YoY) 205.5% 11.3%
88th		 5.6%
Buyback yield 3.0% 0.4%
100th		 0.5%
Shareholder yield (dividends + buybacks) 8.4% 3.0%
100th		 2.0%
Share count change (YoY) -3.1% -0.0%
8th		 0.0%
Buybacks, last 5 years $5.6B $14.1M
92nd		 $76.0M

Scores & forensic checks

MeasureMMMIndustry medianIndustry percentileSector median
IS score 53 37
83rd		 53
IS profitability 61 26
92nd		 37
IS growth 33 52
25th		 54
IS value 43 48
42nd		 47
IS momentum 57 57
50th		 76
IS risk (safety) 100 50
83rd		 80
IS quality 57 57
58th		 67
IS balance sheet 44 44
50th		 56
IS earnings quality 74 66
83rd		 70
IS cash flow 63 30
100th		 54
Piotroski F-score (0-9) 6 5
58th		 6
Altman Z-score 4.4 2.4
83rd		 3.3
Beneish M-score −2.72 −2.34
33rd		 −2.52
Ohlson O-score −6.15 −6.98
58th		 −7.49
IS credit score 78 51
83rd		 65

Per share

MeasureMMMIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $5.68 $0.23
67th		 $2.21
Book value per share $5.60 $18.12
25th		 $18.38
Tangible book per share −$8.43 $0.59
25th		 $4.39
Revenue per share $47.73 $35.25
58th		 $36.64
FCF per share $7.55 −$0.37
75th		 $2.70
Operating cash flow per share $9.29 $7.23
58th		 $4.28
Cash per share $6.31 $6.31
50th		 $3.02

Size (TTM)

MeasureMMMIndustry medianIndustry percentileSector median
Market cap $84.9B $3.8B
100th		 $3.9B
Revenue $25.2B $1.8B
92nd		 $2.7B
EBITDA $5.8B $371.0M
92nd		 $394.8M
Net income $3.0B $6.0M
92nd		 $136.3M
Free cash flow $4.0B −$18.1M
92nd		 $162.9M
Total assets $34.9B $3.5B
83rd		 $3.5B
Shareholders' equity $3.0B $1.7B
67th		 $1.4B
Employees 60,500 5,500
83rd		 6,050

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-09Kshirsagar Tushar A.
EVP Chief Tech Officer
 — 2,769$172.65$478,0680
2026-10-07Rhodes Kevin H
EVP, Chief Legal Off & Secret
 Option exercise 176$162.12$28,53344,028
2026-10-07Rhodes Kevin H
EVP, Chief Legal Off & Secret
 Tax withholding 176$162.12$28,53343,852
2026-10-07Rhodes Kevin H
EVP, Chief Legal Off & Secret
 Option exercise 176——4,067
2026-10-07Kshirsagar Tushar A.
EVP Chief Tech Officer
 Option exercise 53$162.12$8,5924,828
2026-10-07Kshirsagar Tushar A.
EVP Chief Tech Officer
 Tax withholding 53$162.12$8,5924,775
2026-10-07Kshirsagar Tushar A.
EVP Chief Tech Officer
 Option exercise 53——1,226
2026-10-07Goralski Christian T Jr
Group President
 Option exercise 1,288$162.12$208,8118,259
2026-10-07Goralski Christian T Jr
Group President
 Option exercise 219$162.12$35,5048,478
2026-10-07Goralski Christian T Jr
Group President
 Option exercise 217$162.12$35,1808,695
2026-10-07Goralski Christian T Jr
Group President
 Tax withholding 1,724$162.12$279,4956,971
2026-10-07Goralski Christian T Jr
Group President
 Option exercise 1,288——19,299

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1236,349$1.9M
Open-market saleDisposed525,010$4.3M
Option exerciseDisposed1364,739$3.2M
Option exerciseAcquired1364,739$9.9M
Tax withholdingDisposed821,051$3.2M
—Disposed106,082$478,068
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 15 notices · 140,986 shares · $23.8M
FiledFilerShares proposedEst. proceeds
2026-08-05Chavez Rodriguez Beatriz Karina3,635$663,430
2026-07-23Reinseth Theresa E924$156,544
2026-07-23Banovetz John Patrick7,880$1.3M
2026-07-22Goralski Christian T Jr4,902$835,577
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 16 trades (0 purchases) · Senate 1 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-04-28Josh GottheimerHouseSale$1,001 - $15,0002026-05-20
2026-04-28Josh GottheimerHouseSale (Partial)$1,001 - $15,0002026-05-20
2026-04-27Josh S. GottheimerHouseSale (Partial)$1,001 - $15,0002026-05-20
2026-03-31Tina SmithSenateSale$50,001 - $100,0002026-04-02
2026-02-04Julia LetlowHouseSale$1,001 - $15,0002026-03-13
2024-04-29Tommy TubervilleSenateSale (Full)$15,001 - $50,0002024-05-15
2024-04-29Tommy TubervilleSenateSale (Full)$15,001 - $50,0002024-05-14
2024-04-29Thomas Hawley TubervilleSenateSale (Full)$15,001 - $50,0002024-05-14
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.45,048,766$7.3B8.74%
JPMORGAN CHASE & CO35,321,900$5.7B6.85%
VANGUARD CAPITAL MANAGEMENT LLC34,065,039$5.5B6.61%
STATE STREET CORP27,828,966$4.5B5.40%
GEODE CAPITAL MANAGEMENT, LLC11,957,078$1.9B2.32%
VANGUARD PORTFOLIO MANAGEMENT LLC9,542,983$1.5B1.85%
Capital World Investors8,392,028$1.4B1.63%
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO7,934,035$1.3B1.54%
NORGES BANK7,808,095$1.3B1.51%
Newport Trust Company, LLC5,455,533$883.3M1.06%
FMR LLC5,307,203$859.3M1.03%
MORGAN STANLEY4,925,215$797.4M0.96%
D. E. Shaw & Co., Inc.4,871,164$788.7M0.94%
Amundi4,536,148$734.4M0.88%
SG Americas Securities, LLC4,533,524$734.0M0.88%

Institutional ownership by quarter

2023-092026-0674.4%
% of shares held by 13F filers
2023-092026-062,220
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,22074.4%198719851101
2026-03-312,14373.3%148653914203
2025-12-312,24074.7%28474776998
2025-09-302,10271.7%146685806125
2025-06-302,11576.2%173651891148
2025-03-312,12174.1%202681852146
2024-12-312,10370.2%242671822142
2024-09-302,05269.4%270605857107
2024-06-301,91568.2%197705728139
2024-03-311,88668.6%146710785190
2023-12-311,95368.7%292565875116
2023-09-301,80468.0%141646759158

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-10-16SCHEDULE 13G/AJPMORGAN CHASE & CO.8.5%44,111,814
2026-07-27SCHEDULE 13G/AJPMORGAN CHASE & CO.7.4%38,598,106
2026-05-12SCHEDULE 13G/AJPMORGAN CHASE & CO8.8%46,215,377
2026-05-08SCHEDULE 13G/AJPMORGAN CHASE & CO.8.8%46,215,377
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.12%$2.7B
VTSAX0.12%$2.7B
VSMPX0.12%$2.7B
VTI0.12%$2.7B
VFINX0.13%$2.2B
VOO0.13%$2.2B

Share structure

Shares outstanding515,722,417
Float515,297,561
Free float99.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$35.4B$34.2B$24.6B$24.6B$24.9B
Cost of revenue$18.7B$19.3B$15.0B$14.5B$15.1B
Gross profit$16.6B$15.0B$9.6B$10.1B$9.9B
R&D$2.0B$1.9B$1.1B$1.1B$1.2B
SG&A$7.1B$9.0B$4.4B$4.1B$4.0B
Operating income$7.5B$4.1B$4.0B$4.9B$4.6B
EBITDA$9.6B$8.7B−$8.9B$7.2B$5.9B
Pretax income$7.2B$6.4B−$11.3B$4.8B$4.2B
Income tax$1.3B$612.0M−$2.9B$804.0M$1.0B
Net income$5.9B$5.8B−$7.0B$4.2B$3.2B
EPS, diluted$10.12$10.18$-12.63$7.55$6.00
Diluted shares585.3M567.6M553.9M552.4M539.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$4.8B$3.9B$5.8B$7.7B$5.9B
Receivables$4.8B$4.6B$3.7B$3.3B$3.5B
Inventory$5.0B$5.4B$3.9B$3.7B$3.7B
Total current assets$15.4B$14.7B$16.4B$15.9B$16.4B
PP&E, net$10.3B$10.0B$8.3B$8.0B$7.6B
Goodwill & intangibles$18.8B$17.5B$7.7B$7.5B$7.5B
Total assets$47.1B$46.5B$50.6B$39.9B$37.7B
Accounts payable$3.0B$3.2B$2.8B$2.7B$2.7B
Total current liabilities$9.0B$9.5B$15.3B$11.3B$9.6B
Long-term debt$16.1B$14.0B$13.1B$11.1B$10.9B
Total liabilities$32.0B$31.7B$45.7B$36.0B$33.0B
Shareholders' equity$15.1B$14.8B$4.9B$3.9B$4.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$5.9B$5.8B−$7.0B$4.2B$3.3B
Depreciation & amortization$1.9B$1.8B$2.0B$1.4B$1.3B
Stock-based compensation$274.0M$263.0M$274.0M$289.0M$225.0M
Change in working capital−$751.0M−$670.0M$317.0M−$5.2B−$3.2B
Operating cash flow$7.5B$5.6B$6.7B$1.8B$2.3B
Capital expenditure−$1.6B−$1.7B−$1.6B−$1.2B−$910.0M
Free cash flow$5.9B$3.8B$5.1B$638.0M$1.4B
Investing cash flow−$1.3B−$1.0B−$1.2B−$3.2B$1.4B
Net debt issued / repaid−$1.1B−$838.0M−$46.0M$5.5B−$716.0M
Buybacks−$2.2B−$1.5B−$33.0M−$1.8B−$4.8B
Dividends paid−$3.4B−$3.4B−$3.3B−$2.0B−$1.2B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin47.0%43.7%40.2%41.0%39.6%
Operating margin21.3%11.9%16.6%20.1%18.9%
Net margin16.7%16.9%-26.3%17.0%13.0%
FCF margin16.5%11.2%19.1%2.6%5.6%
ROE42.4%38.8%-71.6%96.5%76.1%
ROIC21.6%13.3%22.2%42.1%30.9%
ROA12.5%12.4%-14.4%9.2%8.4%
Debt / equity1.221.143.483.562.75
Interest coverage16.8x13.8xn/m5.1x5.2x
Current ratio1.701.541.071.411.71
Revenue growth+9.9%−3.2%−22.3%−7.6%+1.5%
EPS growth+9.4%+2.3%−220.5%+160.7%−21.1%
P/E at year end12.5x8.6xn/m16.6x26.6x
EV / EBITDA at year end9.1x7.2xn/m10.2x15.0x
FCF yield at year end7.92%7.75%10.52%0.92%1.62%
Dividend payout57.8%58.3%—47.5%48.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Safety And Industrial Segment$12.9B$11.6B$11.0B$11.0B$11.4B
Transportation And Electronics Segment$9.8B$8.9B$8.5B$8.4B$8.3B
Health Care Segment$9.1B$8.4B$8.2B——
Consumer Segment$5.9B$5.3B$5.0B$4.9B$4.9B
Segment Reporting, Reconciling Item, Corporate Nonsegment———$271.0M$372.0M
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment———$32.0M—
Corporate Non Segment$2.0M$4.0M$3.0M——
Intersegment Elimination−$2.2B————

Revenue by region · FY2025

Americas$13.6B · 54%
Asia Pacific$7.1B · 28%
E M E A$4.3B · 17%

Street estimates by fiscal year

Next report 2026-10-20 · consensus EPS $2.39 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$25.4B$25.4B – $25.5B$8.95$8.84 – $9.001018.4x
2027$26.6B$26.5B – $26.8B$9.87$9.57 – $10.181016.7x
2028$27.5B$26.9B – $28.3B$10.66$9.48 – $11.69415.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-21$2.25$2.40+6.7%$6.4B$6.5B+1.6%
2026-04-21$1.98$2.14+8.1%$6.0B$6.0B−0.1%
2026-01-20$1.80$1.83+1.7%$6.0B$6.0B−0.1%
2025-10-21$2.07$2.19+5.8%$6.2B$6.5B+4.3%
2025-07-18$2.01$2.16+7.5%$6.1B$6.3B+3.7%
2025-04-22$1.78$1.88+5.6%$5.8B$6.0B+3.4%
2025-01-21$1.67$1.68+0.6%$5.8B$6.0B+3.9%
2024-10-22$1.91$1.98+3.7%$6.1B$6.3B+3.9%
2024-07-26$1.68$1.93+14.9%$5.9B$6.3B+6.8%
2024-04-30$2.10$2.39+13.8%$7.6B$8.0B+4.9%
2024-01-23$2.31$2.42+4.8%$7.7B$8.0B+4.0%
2023-10-24$2.34$2.68+14.5%$8.0B$8.3B+4.0%
2023-07-25$1.65$2.17+31.5%$7.9B$8.3B+5.8%
2023-04-25$1.58$1.97+24.7%$7.5B$8.0B+7.3%
2023-01-24$2.34$2.28−2.6%$8.0B$8.1B+0.4%
2022-10-25$2.61$2.69+3.1%$8.7B$8.6B−1.1%
2022-07-26$2.41$2.48+2.9%$8.6B$8.7B+1.5%
2022-04-26$2.31$2.65+14.7%$8.7B$8.8B+0.9%
2022-01-25$2.01$2.31+14.9%$9.0B$8.6B−4.8%
2021-10-26$2.20$2.45+11.4%$8.8B$8.9B+1.3%
2021-07-27$2.28$2.59+13.6%$8.8B$8.9B+1.4%
2021-04-27$2.29$2.77+21.0%$8.5B$8.9B+4.2%
2021-01-26$2.15$2.38+10.7%$7.7B$8.6B+12.0%
2020-10-27$2.26$2.43+7.5%$7.8B$8.3B+7.5%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.706-150.606-220.506-290.507-060.607-131.407-201.007-270.608-030.508-100.608-170.508-240.608-31
Week ofNotionalSharesTrades
2026-08-31$601.5M3,546,40274,815
2026-08-24$545.2M3,058,30870,396
2026-08-17$622.7M3,449,15281,589
2026-08-10$460.9M2,522,24570,520
2026-08-03$608.4M3,373,31887,113
2026-07-27$1.0B5,841,509120,436

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1555.6%
DateShort shareShort volumeTotal volume
2026-10-1555.6%575,3651,035,319
2026-10-1448.2%465,342965,385
2026-10-1350.8%421,740829,548
2026-10-1259.7%429,748719,576
2026-10-0946.3%445,823962,311
2026-10-0852.8%478,124906,378
2026-10-0766.7%803,2861,204,236
2026-10-0661.6%581,871944,324
2026-10-0548.1%405,001841,184
2026-10-0260.2%666,7271,107,542
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-1.5Jan+0.8Feb+1.6Mar+1.6Apr+0.2May+0.4Jun+2.8Jul+0.1Aug-0.8Sep+1.7Oct+4.1Nov+0.6Dec
MonthAvg returnUp yearsYears
Jan−1.5%40%20
Feb+0.8%65%20
Mar+1.6%71%21
Apr+1.6%60%20
May+0.2%65%20
Jun+0.4%60%20
Jul+2.8%60%20
Aug+0.1%60%20
Sep−0.8%60%20
Oct+1.7%65%20
Nov+4.1%85%20
Dec+0.6%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1448.2
MFI34.8
ADX28.2
Stochastic %K / %D47.8 / 39.9
Williams %R-53.2
CCI13
TSI / signal-12.2 / -15.2
Chaikin money flow-0.03
ATR$3.38
Bollinger width7.3%
Volume vs 20-day avg0.72x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$164.97 (−0.2%)
SMA 50$170.13 (−3.2%)
SMA 200$160.53 (+2.6%)
EMA 21$164.80 (−0.0%)
EMA 50$166.70 (−1.2%)
EMA 200$161.93 (+1.7%)
Bollinger upper$171.02 (−3.7%)
Bollinger lower$158.91 (+3.7%)
Parabolic SAR$159.37 (+3.4%)
Open the live chart, 110+ indicators

About 3M Company

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.

https://www.3m.com

Key executives

NameTitlePayBorn
William BrownChief Executive Officer & Chairman$6.2M1963
Anurag MaheshwariChief Financial Officer & Executive Vice President$3.0M1974
Christian T. Goralski Jr.Group President of Safety & Industrial$2.1M1972
Kevin H. RhodesExecutive Vice President, Chief Legal Affairs Officer & Secretary$2.0M1963
Wendy A. BauerGroup President of Transportation & Electronics Business Group$1.9M1976
Jennifer CunninghamExecutive Vice President & Chief Human Resources Officer——
John BanovetzExecutive Vice President, Chief Technology Officer & Environmental Responsibility—1968
Luigi FaltoniManaging Director of 3M Brazil——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
William M. Brown Chairman and Chief Executive Officer2025$1.8M$7.8M$3.7M$21.0M
Anurag Maheshwari Executive Vice President and Chief Financial Officer2025$1.1M$3.5M$1.5M$7.5M
Kevin H. Rhodes Executive Vice President, Chief Legal Affairs Officer and Secretary2025$932,531$2.4M$997,894$6.7M
Christian T. Goralski Group President, Safety and Industrial2025$804,728$2.5M$1.1M$5.4M
Wendy A. Bauer Group President, Transportation and Electronics2025$828,778$2.5M$911,655$5.2M

Employees

94k201896k201995k202095k202192k202285k202362k202460k2025

Dividends

Ex-dateAmountPaid
2026-08-24$0.782026-09-11
2026-05-22$0.782026-06-12
2026-02-13$0.782026-03-12
2025-11-14$0.732025-12-12
2025-08-25$0.732025-09-12
2025-05-23$0.732025-06-12
2025-02-14$0.732025-03-12
2024-11-15$0.72024-12-12

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage76
Intangibles56
Switching costs53
Network effect45
Efficient scale90
Our component scores (0-100) and overall 62.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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