3M Company (MMM)

NYSE: MMM · USD

$173

+1.37 (+0.8%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-27

Our latest published analysis: MMM rated Sell

3M Company's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$107 / share

Potential value

$126 / share

Upside to FV

-36.8%

from $173

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$87.4B
Revenue (ttm)	25.2B
Net income (ttm)	3.5B
EPS (ttm)	$6.68
Shares out	516.7M
P/E (trailing)	25.9x
P/E (forward)	17.8x
Dividend	$3.12 (1.81%)
Volume	2,164,028
Beta	1.06

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 25.2B
Net income (ttm): 3.5B
EPS (ttm): $6.68
P/E (trailing): 25.9x
P/E (forward): 17.8x
Market cap: $87.4B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$35.36B	$26.16B	$24.61B	$24.58B	$24.95B	-8.3%
Gross profit	$16.61B	$14.97B	$14.20B	$10.08B	$9.87B	-12.2%
Operating income	$7.37B	$4.37B	$-10.69B	$4.82B	$4.63B	-11.0%
Net income	$5.92B	$5.78B	$-7.00B	$4.17B	$3.25B	-13.9%
EPS (diluted)	$10.12	$10.18	$-12.63	$7.55	$6.00	-12.3%
EBITDA	$9.58B	$8.72B	$-9.13B	$7.23B	$5.85B	-11.6%
R&D	$1.20B	$800.0M	$700.0M	$700.0M	$1.17B	-0.7%
SG&A	$7.20B	$7.23B	$19.20B	$4.22B	$4.00B	-13.7%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
BA	The Boeing Company	132.2B	18.0x	1.4x	-0.8%	+8.6%	-25.2%	卖出
BMY	Bristol-Myers Squibb Company	123.6B	13.3x	2.5x	21.7%	+2.1%	+45.8%	卖出
CHTR	Charter Communications, Inc.	17.2B	2.7x	0.3x	8.5%	+1.7%	-57.3%	强力买入
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	持有
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	持有
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	持有

Base and Bull scenarios

Base60%

Price target

$107.08

-36.8% from spot

In the base case, 3M executes its turnaround plan following the Solventum healthcare spin-off. Operating margins expand from 18.55% in FY2025 to 19.37% in FY2026 and 20.38% in FY2027, reaching 21.42% by FY2030. The core Safety & Industrial business provides steady profitability ($2,836M EBIT in FY2025), while Transportation & Electronics benefits from gradual optical growth. However, because $8.6B of the $10B+ capital return authorization has already been executed, buyback support tapers sharply, resulting in post-FY2027 EPS growth slowing to -2.28% in FY2028 and -3.38% in FY2029.

Consolidated operating margin expands from 18.55% in FY2025 to 19.37% in FY2026, 20.38% in FY2027, and 21.42% in FY2030.
Safety & Industrial maintains ~25% operating margins ($2,836M profit on $11,384M revenue in FY2025).
Terminal exit multiple assumed at 17.5x, reflecting a discount to peers.
Share repurchase support diminishes after completing $8.6B of the $10B+ plan, leading to negative EPS growth post-FY2027.

Bull15%

Price target

$126.36

-25.5% from spot

In the upside scenario, operational restructuring accelerates operating margins beyond 25% by 2027 ahead of guidance. 3M's Expanded Beam Optics platform establishes standard interconnect architecture across 44 hyperscaler and semiconductor ecosystem partners, scaling toward a $2B addressable market by 2028. Robust free cash generation supports over $10B in capital returns, driving 11.5% EPS CAGR and multiple expansion toward peer median of 19.5x.

Operational restructuring accelerates consolidated operating margin beyond 25% by 2027 ahead of guidance.
Expanded Beam Optics establishes the industry standard across 44 partners as TAM doubles to $2B by 2028.
Capital returns exceed $10B through 2027, driving double-digit EPS compounding.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($107.08). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.3%	$112	$113	$114	$116	$117
8.8%	$108	$109	$110	$112	$113
9.3%	$105	$106	$107	$108	$109
9.8%	$103	$103	$104	$105	$106
10.3%	$100	$101	$102	$102	$103

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E17.8

P25 n/aP50 n/aP75 n/a

Trailing P/E30.1

P25 n/aP50 n/aP75 n/a

ROE73

P25 n/aP50 n/aP75 n/a

ROIC33.9

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All MMM indicators

Market & fundamental data

Available fields

289

Groups with data

Currency

USD

Showing 289 of 289 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000066740
Company name	3M Company
Country	United States
Country code	US
CUSIP number	88579Y101
Earnings date	2026-10-20
Earnings time	bmo
Employees	60,500
Employees change	-1,000
Employees growth	-1.63%
Enterprise value	$97.6B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1902
In index	SP500, DOW30
Industry	Conglomerates
Is primary listing	Yes
Is SPAC	No
ISIN number	US88579Y1010
Last 10-K release date	2026-02-03
Last earnings date	2026-10-20
Last refreshed	2026-10-28
Last stock split date	2003-09-30
Last stock split type	Forward
Market cap	$89.4B
Market cap category	Large-Cap
Next earnings date	2027-01-19
Options	Yes
Price	$172.95
Price currency	USD
Sector	Industrials
SIC code	3841
Stock price date	2026-10-28
Symbol	MMM
U.S. state	Minnesota
Website	https://www.3m.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	19.59x
Average P/E ratio (10Y)	21.61x
Average P/E ratio (3Y)	26.27x
Average P/E ratio (5Y)	21.55x
Earnings yield	3.86%
EV/Earnings	27.48x
EV/EBIT	19.16x
EV/EBITDA	14.96x
EV/FCF	36.3x
EV/Sales	3.85x
FCF / EV yield	2.75%
FCF yield	3.01%
Forward EV/Sales	3.68x
Forward P/E	17.85x
Forward P/S	3.37x
Graham number	34.65353
Graham upside	-79.88%
Industry forward P/E	18.18x
Industry P/E	16.05x
Lynch fair value	$33.41
Lynch upside	-80.6%
P/(FCF - SBC) ratio	36.07x
P/(OCF - SBC) ratio	26.03x
P/B ratio	21.48x
P/E ratio	25.88x
P/FCF ratio	33.24x
P/OCF ratio	24.52x
P/S ratio	3.52x
PEG ratio	1.95x
Price/EBITDA ratio	13.69x
Sector forward P/E	25.9x
Sector P/E	39.85x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	20.09%
EBITDA margin	25.74%
Effective tax rate	19.18%
FCF margin	10.6%
Gross margin	39.53%
Operating margin	20.09%
Pretax margin	17.55%
Profit margin	14.01%
Profit per employee	$58,446
Profitable quarters	12
Profitable years	2
Revenue per employee	$417,306
ROA	8.22%
ROA (5Y)	3.02%
ROCE	18.33%
ROE	72.97%
ROE (5Y)	30.23%
ROIC	33.87%
ROIC (5Y)	10.21%
SBC / revenue	0.83%
Tax / revenue	3.37%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	6.73%
EPS growth (Q)	69.68%
EPS growth (QoQ)	47.75%
EPS growth 10Y	-1.7%
EPS growth 5Y	-8.15%
EPS growth quarters	2
EPS growth years	0
FCF growth	68.58%
FCF growth (Q)	-85.05%
FCF growth (QoQ)	-69.86%
FCF growth 3Y	-17.99%
FCF growth 5Y	-16.24%
Gross profit growth	-1.88%
Gross profit growth (Q)	2.13%
Gross profit growth 3Y	-3.12%
Gross profit growth 5Y	-10.07%
Net income growth	3.97%
Net income growth (Q)	64.63%
Net income growth (QoQ)	47.16%
Net income growth 5Y	-10%
Net income growth quarters	2
Net income growth years	0
OCF growth	42.82%
OCF growth (Q)	-72.32%
OCF growth (QoQ)	-50.71%
OCF growth 10Y	-6.07%
OCF growth 3Y	-18.14%
OCF growth 5Y	-14.55%
Operating income growth	1.75%
Operating income growth (Q)	-1.76%
Operating income growth 3Y	-7.07%
Operating income growth 5Y	-9.16%
Revenue growth	1.7%
Revenue growth (Q)	1.03%
Revenue growth (QoQ)	1.29%
Revenue growth 10Y	-1.74%
Revenue growth 3Y	-1.83%
Revenue growth 5Y	-6.5%
Revenue growth quarters	6
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-952M
Depreciation and amortization	$1.4B
EBIT	$5.1B
EBITDA	$6.5B
EPS	$6.68
FCF per share	$5.18
Financing cash flow	$-592M
Free cash flow	$2.7B
Free cash flow minus SBC	$2.5B
Gross profit	$10B
Income taxes	$850M
Investing cash flow	$-2.9B
Net borrowing	$2.5B
Net cash flow	$164M
Net income	$3.5B
Operating cash flow minus SBC	$3.4B
Operating income	$5.1B
Revenue	$25.2B
Stock-based compensation	$210M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.09
Book value per share	$7.99
Debt / EBITDA	2.3
Debt / equity	3.04
Debt / FCF	5.83
Goodwill	$7.3B
Interest coverage	5.93
Long-term assets	$22.8B
Long-term liabilities	$22.5B
Net cash (debt)	$-8.2B
Net cash / market cap	-9.22%
Net debt / EBITDA	1.26
Net debt / equity	1.6
Net debt / FCF	3.06
Piotroski F-Score	5
Property, plant and equipment	$7.6B
Shareholders' equity	$5.1B
Tangible book value	$-5.3B
Tangible book value per share	$-10.20
Total assets	$39.5B
Total cash	$7.4B
Total debt	$15.6B
Total liabilities	$34.4B
WACC	9.23%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.65
Current assets	$16.7B
Current liabilities	$11.9B
Current ratio	1.41
Inventory turnover	3.83
Net working capital	$39M
Quick ratio	0.97
Working capital	$4.8B
Working capital turnover	4.14

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.57%
Dividend growth	6.23%
Dividend growth (10Y)	-3.44%
Dividend growth (3Y)	-19.97%
Dividend growth (5Y)	-12.28%
Dividend growth years	0
Dividend payment date	2026-09-11
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$3.12
Dividend yield	1.81%
Ex-dividend date	2026-08-24
FCF payout ratio	60.22%
Last dividend	$0.78
Payout ratio	46.69%
Shareholder yield	4.38%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	3.96%
10Y return CAGR	5.57%
10Y total return	71.88%
150-day SMA	$161.45
15Y price change	111.68%
15Y return CAGR	9.63%
15Y total return	296.92%
1D price change	0.8%
1M price change	1.64%
1M total return	1.64%
1W price change	-1.38%
1W total return	-1.38%
1Y price change	2.33%
1Y return CAGR	4.23%
1Y total return	4.22%
20-day SMA	$166.47
200-day SMA	$161.02
20Y price change	118.28%
20Y return CAGR	8.02%
20Y total return	367.94%
3M price change	-3.31%
3M total return	-2.89%
3Y price change	96.9%
3Y return CAGR	36.74%
3Y total return	155.74%
50-day SMA	$168.60
50-day SMA vs 200-day SMA	50over200
52-week high	$184.90
52-week high date	2026-07-28
52-week low	$139.34
52-week low date	2026-03-20
5Y price change	-3.32%
5Y return CAGR	6.62%
5Y total return	37.77%
6M price change	18.22%
6M total return	19.35%
All-time high	$259.77
All-time high date	2018-01-26
All-time low	$4.47
All-time low date	1970-07-07
Average true range (ATR)	$3.77
Average volume	3.4M
Beta (1Y)	0.43
Beta (2Y)	1.03
Beta (5Y)	1.06
Change from 52-week high	-6.46%
Change from 52-week low	24.12%
Change from all-time high	-33.66%
Change from all-time low	3,756.12%
Change from open	0.6%
Day's gap	0.19%
Dollar volume	$374.3M
High price	$173.28
Low price	$171.51
Monthly RSI	59.23
Open price	$171.91
Position in 52-week range	81.36%
Premarket change	0.06%
Premarket close	$171.58
Premarket price	$171.68
Premarket volume	524
Previous close	$171.58
Price vs 150-day SMA	6.74%
Price vs 20-day SMA	3.52%
Price vs 200-day SMA	7.03%
Price vs 50-day SMA	2.21%
Relative volume	0.65
RSI	57.84
Sharpe ratio	0.13
Sharpe ratio (3Y)	1.08
Sharpe ratio (5Y)	0.21
Sortino ratio	0.44
Sortino ratio (3Y)	2.07
Sortino ratio (5Y)	0.54
Volume	2.2M
Weekly RSI	56.1
YTD price change	7.64%
YTD total return	9.16%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	515.8M
Float percentage	99.83%
Shares change (QoQ)	0.04%
Shares change (YoY)	-2.57%
Shares held by insiders	0.06%
Shares held by institutions	75.98%
Shares outstanding	516.7M
Short % of float	1.88%
Short % of shares	1.87%
Short ratio	3.2 days

Deeper analysis on MMM

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this MMM report

What is the latest published MMM stock rating?

3M Company is shown with Sell in the latest published report, analyzed 2026-09-27. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full MMM analysis?

The full latest published report, analyzed 2026-09-27, lives at /stocks/MMM/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for MMM?

The latest published report analyzed 2026-09-27 gives MMM a fair value of USD 107 and a potential value of USD 126. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the MMM page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-27). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellMMM · Fair value $107-36.8%

Read full analysis →

3M Company (MMM)

Our latest published analysis: MMM rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · MMM

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All MMM indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on MMM

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	1.5
Management	7.5
Balance Sheet	3.5
Profitability	7.5
Revenue Growth	4.5
Risk Assessment	4.0
Competitive Moat	7.0
Earnings Quality	6.5
Capital Efficiency	7.5