MMM Fundamental Analysis - 3M CO

Fundamental Rating

We assign a fundamental rating of 5 out of 10 to MMM. MMM was compared to 7 industry peers in the Industrial Conglomerates industry. While MMM has a great profitability rating, there are some minor concerns on its financial health. MMM has a valuation in line with the averages, but it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

In the past year MMM was profitable.

MMM had a negative operating cash flow in the past year.

MMM had positive earnings in 4 of the past 5 years.

Each year in the past 5 years MMM had a positive operating cash flow.

1.2 Ratios

With an excellent Return On Assets value of 10.37%, MMM belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.

With an excellent Return On Equity value of 91.82%, MMM belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.

With an excellent Return On Invested Capital value of 13.42%, MMM belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.

Measured over the past 3 years, the Average Return On Invested Capital 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 Rank	Sector 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%

1.3 Margins

With an excellent Profit Margin value of 16.01%, MMM belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.

MMM's Profit Margin has improved in the last couple of years.

MMM has a Operating Margin of 19.75%. This is amongst the best in the industry. MMM outperforms 85.71% of its industry peers.

MMM's Operating Margin has been stable in the last couple of years.

Looking at the Gross Margin, with a value of 41.11%, MMM belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.

In the last couple of years the Gross Margin of MMM has declined.

		Industry Rank	Sector 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%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), MMM is creating some value.

The number of shares outstanding for MMM has been reduced compared to 1 year ago.

MMM has less shares outstanding than it did 5 years ago.

Compared to 1 year ago, MMM has a worse debt to assets ratio.

2.2 Solvency

MMM has an Altman-Z score of 4.15. This indicates that MMM is financially healthy and has little risk of bankruptcy at the moment.

MMM's Altman-Z score of 4.15 is amongst the best of the industry. MMM outperforms 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 (2.91) which is in line with its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	2.91
Debt/FCF	N/A
Altman-Z	4.15

ROIC/WACC1.71

WACC7.84%

2.3 Liquidity

MMM has a Current Ratio of 1.72. This is a normal value and indicates that MMM is financially healthy and should not expect problems in meeting its short term obligations.

Looking at the Current ratio, with a value of 1.72, MMM belongs to the top 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 Rank	Sector Rank
Current Ratio	1.72
Quick Ratio	1.2

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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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%.

Measured over the past years, MMM shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.72% on average per year.

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

The Earnings Per Share is expected to grow by 4.70% on average over the next years.

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

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 20.50 indicates a rather expensive valuation of MMM.

Compared to the rest of the industry, the Price/Earnings ratio of MMM indicates a rather cheap valuation: MMM is cheaper than 100.00% of the companies listed in the same industry.

MMM is valuated rather cheaply when we compare the Price/Earnings ratio to 27.30, which is the current average of the S&P500 Index.

The Price/Forward Earnings ratio is 18.38, 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.

Compared to an average S&P500 Price/Forward Earnings ratio of 22.73, MMM is valued at the same level.

		Industry Rank	Sector Rank
PE	20.5
Fwd PE	18.38

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, MMM is valued a bit cheaper than 71.43% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	15.38

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)275.97

PEG (5Y)N/A

EPS Next 2Y3.74%

EPS Next 3Y5.68%

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5. Dividend

5.1 Amount

MMM has a Yearly Dividend Yield of 1.83%. Purely for dividend investing, there may be better candidates out there.

Compared to an average industry Dividend Yield of 6.00, MMM pays a bit more dividend than its industry peers.

Compared to the average S&P500 Dividend Yield of 2.41, MMM is paying slightly less dividend.

		Industry Rank	Sector Rank
Dividend Yield	1.83%

5.2 History

The dividend of MMM decreases each year by -8.81%.

MMM has paid a dividend for at least 10 years, which is a reliable track record.

Dividend Growth(5Y)-8.81%

Div Incr Years0

Div Non Decr Years0

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%

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3M CO

NYSE:MMM (9/12/2025, 8:04:00 PM)

After market: 157.87 0 (0%)

157.87

-1.6 (-1%)

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 Cap84.09B

Analysts75.65

Price Target162.18 (2.73%)

Short Float %1.46%

Short Ratio2.19

Dividend

		Industry Rank	Sector Rank
Dividend Yield	1.83%

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)4.43%

EPS NQ rev (1m)0%

EPS NQ rev (3m)-2.93%

EPS NY rev (1m)2.97%

EPS NY rev (3m)3.36%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)2.3%

Revenue NY rev (1m)0%

Revenue NY rev (3m)1.1%

Valuation

		Industry Rank	Sector Rank
PE	20.5
Fwd PE	18.38
P/S	3.42
P/FCF	N/A
P/OCF	N/A
P/B	19.6
P/tB	N/A
EV/EBITDA	15.38

EPS(TTM)7.7

EY4.88%

EPS(NY)8.59

Fwd EY5.44%

FCF(TTM)-3.72

FCFYN/A

OCF(TTM)-1.88

OCFYN/A

SpS46.19

BVpS8.05

TBVpS-6.21

PEG (NY)275.97

PEG (5Y)N/A

Profitability

		Industry Rank	Sector 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 Rank	Sector 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	4.15

F-Score4

WACC7.84%

ROIC/WACC1.71

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%

3M CO (MMM) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

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2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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