3M CompanyMMM
NYSE•Industrials•Conglomerates
3M Company provides diversified technology services in the America, the Asia Pacific, Europe, the Middle East, Africa, and internationally. It operates through three segments: Safety and Industrial, Transportation and Electronics, and Consumer. The Safety and Industrial segment provides industrial abrasives and finishing for metalworking applications; autobody repair solutions; industrial specialty products, such as personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles. The Transportation and Electronics segment provides ceramic solutions; attachment and bonding, films, sound, and temperature management for transportation vehicles; format graphic films for advertising and fleet signage; reflective signage for highway and vehicle safety; light management films and electronics assembly solutions; chip packaging and interconnection solutions; semiconductor production materials; and data center solutions. The Consumer segment offers cleaning products for the home; consumer air quality products; picture hanging accessories; retail abrasives, paint accessories, and safety products; stationery and office products; automotive appearance products; and consumer bandages, tapes, braces, and supports. It serves automotive; commercial solutions; consumer markets; design and construction; electronics; energy; government; manufacturing; safety; transportation industries. The company offers its products through e-commerce and traditional wholesalers, retailers, jobbers, distributors, channel partner, and dealers, as well as directly to users. 3M Company was founded in 1902 and is headquartered in Saint Paul, Minnesota.
as of March 2026
Are revenues and earnings expanding?
$25.02B in TTM revenue grew 11.1% YoY, reaching $6.03B last quarter. TTM EBITDA of $6.12B on operating income of $1.40B shows growth is flowing through. Net income of $2.79B TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.
Is revenue turning into profit effectively?
Op. margin of 23.2% is up 2.2% YoY — cost efficiency is improving. Net margin at 10.8% and gross margin of 40.7%. ROE of 85.4% shows the company generates solid returns on shareholder equity.
Is the stock cheap or expensive?
At 30.2x P/E, the stock trades at a premium — the market expects above-average growth. P/S of 3.4x and P/B of 25.8x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.
Is the company financially stable?
With $35.44B in assets and $10.91B in long-term debt, the D/E of 3.3 indicates elevated leverage — the company has significant financial risk and may struggle in a downturn.
Is the business self-funding?
FCF of $349.00M on $574.00M in operating cash flow. The FCF / Net Income ratio of 0.1x indicates partial cash conversion — earnings quality needs attention. Cash reserves of $3.73B provide financial flexibility. Shares outstanding declined 2.7% YoY — buybacks are returning capital to shareholders.
Competitive analysis based on 68 quarters of fundamental data
Operating margins are positive at ~19.6% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 80.6% suggests a durable competitive advantage and efficient capital allocation.
5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 68 quarters
Operating margins declined 5.1% — watch for continued compression, which may signal competitive or cost pressure.
FCF consistently trails net income (avg 0.5x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 3.3 — dangerously high. The company is heavily leveraged and vulnerable to rising rates or cash flow dips.
TTM revenue has contracted 10.2% — significant decline indicating deteriorating demand.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares decreased 4.5% — net buybacks are reducing shares outstanding and boosting per-share value.