NYSE : MMM
3M Company — Financial statements
Industrials · Conglomerates · United States
Last price 177.36 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 91.65B
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Financial statements
3M Company (MMM) reported revenue of 25.25B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 25.25B | 24.95B | 24.57B | 24.61B | 26.16B | 35.35B |
| Cost of Revenue | 15.27B | 14.99B | 14.42B | 14.89B | 15.85B | 18.80B |
| Gross Profit | 9.98B | 9.96B | 10.16B | 9.72B | 10.31B | 16.56B |
| Selling, General & Admin | 3.70B | 4.08B | 4.91B | 18.79B | 5.70B | 6.81B |
| Research & Development | 1.21B | 1.17B | 1.07B | 1.12B | 1.16B | 1.99B |
| Operating Expenses | 4.91B | 5.25B | 5.98B | 19.92B | 6.86B | 8.81B |
| Operating Income | 5.07B | 4.71B | 4.18B | -10.20B | 3.45B | 7.75B |
| Interest Expense | -855.00M | -946.00M | -1.19B | -941.00M | -462.00M | -488.00M |
| Interest & Investment Income | 184.00M | 232.00M | 452.00M | 250.00M | 65.00M | 26.00M |
| Earnings From Equity Investments | 5.00M | 52.00M | 9.00M | 18.00M | 11.00M | 10.00M |
| EBT Excluding Unusual Items | 4.41B | 4.05B | 3.45B | -10.87B | 3.06B | 7.30B |
| Merger & Restructuring Charges | -21.00M | -21.00M | -187.00M | -415.00M | -101.00M | -88.00M |
| Impairment of Goodwill | -271.00M | |||||
| Gain (Loss) on Sale of Investments | 388.00M | 402.00M | 1.56B | |||
| Gain (Loss) on Sale of Assets | -341.00M | -162.00M | 36.00M | 2.72B | ||
| Legal Settlements | -1.20B | |||||
| Pretax Income | 4.43B | 4.26B | 4.83B | -11.25B | 4.21B | 7.21B |
| Income Tax Expense | 850.00M | 1.00B | 804.00M | -2.87B | 188.00M | 1.28B |
| Earnings From Continuing Operations | 3.58B | 3.26B | 4.02B | -8.39B | 4.03B | 5.93B |
| Earnings From Discontinued Operations | 164.00M | 1.41B | 1.76B | |||
| Net Income to Company | 3.58B | 3.26B | 4.19B | -6.98B | 5.79B | 5.93B |
| Minority Interest in Earnings | -45.00M | -12.00M | -15.00M | -16.00M | -14.00M | -8.00M |
| Net Income | 3.54B | 3.25B | 4.17B | -7.00B | 5.78B | 5.92B |
| Net Income to Common | 3.54B | 3.25B | 4.17B | -7.00B | 5.78B | 5.92B |
| Shares Outstanding (Basic) | 525.48M | 537.40M | 550.80M | 553.90M | 566.00M | 579.00M |
| Shares Outstanding (Diluted) | 529.15M | 541.30M | 552.40M | 553.90M | 567.60M | 585.30M |
| EPS (Basic) | 6.73 | 6.05 | 7.58 | -12.63 | 10.21 | 10.23 |
| EPS (Diluted) | 6.68 | 6.00 | 7.56 | -12.63 | 10.18 | 10.12 |
| Free Cash Flow | 2.68B | 1.40B | 638.00M | 5.07B | 3.84B | 5.85B |
| Free Cash Flow Per Share | 5.06 | 2.58 | 1.16 | 9.14 | 6.77 | 10.00 |
| Dividend Per Share | 3.07 | 2.92 | 3.61 | 6.00 | 5.96 | 5.92 |
| Gross Margin | 39.53% | 39.91% | 41.34% | 39.48% | 39.40% | 46.84% |
| Operating Margin | 20.09% | 18.87% | 17.01% | -41.45% | 13.18% | 21.93% |
| Profit Margin | 14.01% | 13.03% | 16.98% | -28.42% | 22.08% | 16.75% |
| Free Cash Flow Margin | 10.60% | 5.60% | 2.60% | 20.58% | 14.69% | 16.55% |
| EBITDA | 6.50B | 6.02B | 5.41B | -8.77B | 4.70B | 9.67B |
| EBITDA Margin | 25.74% | 24.11% | 21.99% | -35.63% | 17.98% | 27.35% |
| D&A For EBITDA | 1.43B | 1.31B | 1.22B | 1.43B | 1.25B | 1.92B |
| EBIT | 5.07B | 4.71B | 4.18B | -10.20B | 3.45B | 7.75B |
| EBIT Margin | 20.09% | 18.87% | 17.01% | -41.45% | 13.18% | 21.93% |
| Effective Tax Rate | 19.18% | 23.52% | 16.65% | 4.46% | 17.81% | |
| Advertising Expenses | 233.00M | 216.00M | 201.00M | 272.00M | 327.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.83B | 5.24B | 5.60B | 5.74B | 3.65B | 4.56B |
| Short-Term Investments | 2.56B | 2.70B | 2.13B | 50.00M | 238.00M | 201.00M |
| Cash & Short-Term Investments | 7.40B | 7.93B | 7.73B | 5.79B | 3.89B | 4.76B |
| Accounts Receivable | 4.12B | 3.53B | 3.19B | 3.60B | 4.53B | 4.66B |
| Other Receivables | 109.00M | 103.00M | 110.00M | |||
| Receivables | 4.12B | 3.53B | 3.19B | 3.71B | 4.63B | 4.77B |
| Inventory | 4.08B | 3.66B | 3.70B | 3.94B | 5.37B | 4.99B |
| Prepaid Expenses | 482.00M | 391.00M | 493.00M | 344.00M | 435.00M | 654.00M |
| Other Current Assets | 636.00M | 869.00M | 771.00M | 2.60B | 353.00M | 229.00M |
| Total Current Assets | 16.71B | 16.39B | 15.88B | 16.38B | 14.69B | 15.40B |
| Property, Plant & Equipment | 7.56B | 7.62B | 7.95B | 8.35B | 10.01B | 10.29B |
| Long-Term Investments | 210.00M | 967.00M | 262.00M | |||
| Goodwill | 7.34B | 6.42B | 6.28B | 6.38B | 12.79B | 13.49B |
| Other Intangible Assets | 2.05B | 1.10B | 1.21B | 1.32B | 4.70B | 5.29B |
| Long-Term Deferred Tax Assets | 3.53B | 3.83B | 4.15B | 4.78B | 959.00M | 581.00M |
| Other Long-Term Assets | 2.32B | 2.38B | 4.39B | 13.16B | 2.35B | 1.76B |
| Total Assets | 39.53B | 37.73B | 39.87B | 50.58B | 46.45B | 47.07B |
| Accounts Payable | 3.04B | 2.70B | 2.66B | 2.78B | 3.18B | 2.99B |
| Accrued Expenses | 3.42B | 2.04B | 3.32B | 1.75B | 1.99B | 2.37B |
| Short-Term Debt | 1.79B | 16.00M | ||||
| Current Portion of Long-Term Debt | 2.44B | 1.67B | 1.92B | 1.15B | 1.94B | 1.29B |
| Current Portion of Leases | 153.00M | 167.00M | 163.00M | 192.00M | 261.00M | 270.00M |
| Current Income Taxes Payable | 304.00M | 259.00M | 260.00M | |||
| Current Unearned Revenue | 23.00M | 538.00M | 529.00M | |||
| Other Current Liabilities | 2.82B | 3.01B | 3.19B | 7.31B | 1.35B | 1.30B |
| Total Current Liabilities | 11.87B | 9.60B | 11.26B | 15.30B | 9.52B | 9.04B |
| Long-Term Debt | 12.56B | 10.93B | 11.21B | 13.09B | 14.10B | 16.06B |
| Long-Term Leases | 450.00M | 363.00M | 405.00M | 524.00M | 655.00M | 684.00M |
| Pension & Post-Retirement Benefits | 1.46B | 1.63B | 1.81B | 2.48B | 2.35B | 3.27B |
| Long-Term Deferred Tax Liabilities | 743.00M | 418.00M | 354.00M | 315.00M | 559.00M | 458.00M |
| Other Long-Term Liabilities | 7.31B | 10.05B | 10.94B | 14.01B | 4.49B | 2.45B |
| Total Liabilities | 34.39B | 32.99B | 35.97B | 45.71B | 31.68B | 31.95B |
| Common Stock | 9.00M | 9.00M | 9.00M | 9.00M | 9.00M | 9.00M |
| Additional Paid-In Capital | 7.57B | 7.44B | 7.23B | 6.96B | 6.69B | 6.43B |
| Retained Earnings | 39.59B | 38.26B | 36.80B | 37.48B | 47.95B | 45.82B |
| Treasury Stock | -38.05B | -35.94B | -34.46B | -32.86B | -33.26B | -30.46B |
| Comprehensive Income & Other | -4.98B | -5.07B | -5.73B | -6.78B | -6.67B | -6.75B |
| Total Common Equity | 4.13B | 4.70B | 3.84B | 4.81B | 14.72B | 15.05B |
| Minority Interest | 1.01B | 45.00M | 52.00M | 61.00M | 48.00M | 71.00M |
| Shareholders' Equity | 5.14B | 4.75B | 3.89B | 4.87B | 14.77B | 15.12B |
| Total Liabilities & Equity | 39.53B | 37.73B | 39.87B | 50.58B | 46.45B | 47.07B |
| Total Debt | 15.60B | 13.13B | 13.69B | 16.75B | 16.96B | 18.32B |
| Net Cash (Debt) | -8.20B | -5.20B | -5.96B | -10.97B | -13.06B | -13.55B |
| Net Cash Per Share | -15.50 | -9.60 | -10.80 | -19.80 | -23.02 | -23.15 |
| Filing Date Shares Outstanding | 516.73M | 526.70M | 542.90M | 552.70M | 550.50M | 571.10M |
| Total Common Shares Outstanding | 516.73M | 530.28M | 539.47M | 552.58M | 549.25M | 571.85M |
| Working Capital | 4.85B | 6.79B | 4.63B | 1.08B | 5.17B | 6.37B |
| Book Value Per Share | 7.99 | 8.87 | 7.12 | 8.70 | 26.80 | 26.31 |
| Tangible Book Value | -5.27B | -2.82B | -3.65B | -2.90B | -2.77B | -3.73B |
| Tangible Book Value Per Share | -10.20 | -5.32 | -6.76 | -5.24 | -5.04 | -6.52 |
| Land | 202.00M | 200.00M | 215.00M | 255.00M | 312.00M | |
| Buildings | 7.73B | 7.43B | 7.03B | 7.56B | 8.09B | |
| Machinery | 15.33B | 14.78B | 14.72B | 16.45B | 17.30B | |
| Construction In Progress | 663.00M | 994.00M | 1.53B | 1.73B | 1.51B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.54B | 3.25B | 4.17B | -7.00B | 5.78B | 5.92B |
| Depreciation & Amortization | 1.43B | 1.31B | 1.22B | 1.43B | 1.25B | 1.92B |
| Loss (Gain) From Sale of Assets | 341.00M | 162.00M | -36.00M | -2.72B | ||
| Asset Writedown & Restructuring Costs | 889.00M | |||||
| Stock-Based Compensation | 210.00M | 225.00M | 289.00M | 274.00M | 263.00M | 274.00M |
| Other Operating Activities | 412.00M | 557.00M | 1.22B | -3.85B | -629.00M | -132.00M |
| Change in Accounts Receivable | -317.00M | -211.00M | 114.00M | -170.00M | -105.00M | -122.00M |
| Change in Inventory | -113.00M | 139.00M | 41.00M | 567.00M | -629.00M | -903.00M |
| Change in Accounts Payable | 269.00M | 21.00M | 46.00M | 138.00M | 111.00M | 518.00M |
| Change in Income Taxes | -47.00M | -244.00M | ||||
| Change in Other Net Operating Assets | -2.14B | -3.15B | -5.42B | 14.76B | 854.00M | 227.00M |
| Operating Cash Flow | 3.63B | 2.31B | 1.82B | 6.68B | 5.59B | 7.45B |
| Capital Expenditures | -952.00M | -910.00M | -1.18B | -1.61B | -1.75B | -1.60B |
| Sale of Property, Plant & Equipment | 40.00M | 95.00M | 61.00M | 119.00M | 200.00M | 51.00M |
| Cash Acquisitions | -1.91B | |||||
| Divestitures | -326.00M | 5.00M | 60.00M | 491.00M | ||
| Investment in Securities | 207.00M | 2.16B | -2.08B | 194.00M | 11.00M | 204.00M |
| Other Investing Activities | 24.00M | -3.00M | -7.00M | 35.00M | 1.00M | 31.00M |
| Investing Cash Flow | -2.92B | 1.35B | -3.21B | -1.21B | -1.05B | -1.32B |
| Short-Term Debt Issued | 205.00M | 340.00M | ||||
| Long-Term Debt Issued | 1.10B | 8.37B | 2.83B | 1.00M | 1.00M | |
| Total Debt Issued | 3.17B | 1.10B | 8.37B | 3.04B | 341.00M | 1.00M |
| Short-Term Debt Repaid | -205.00M | -2.00M | ||||
| Long-Term Debt Repaid | -1.81B | -2.66B | -3.09B | -1.18B | -1.14B | |
| Total Debt Repaid | -661.00M | -1.81B | -2.86B | -3.09B | -1.18B | -1.15B |
| Net Debt Issued (Repaid) | 2.51B | -716.00M | 5.51B | -46.00M | -838.00M | -1.15B |
| Issuance of Common Stock | 1.04B | 1.56B | 92.00M | 264.00M | 381.00M | 639.00M |
| Repurchase of Common Stock | -3.78B | -3.25B | -1.80B | -33.00M | -1.46B | -2.20B |
| Common Dividends Paid | -1.60B | -1.56B | -1.98B | -3.31B | -3.37B | -3.42B |
| Other Financing Activities | 1.23B | -49.00M | -717.00M | -21.00M | -60.00M | -20.00M |
| Financing Cash Flow | -592.00M | -4.02B | 1.10B | -3.15B | -5.35B | -6.14B |
| Foreign Exchange Rate Adjustments | 41.00M | -44.00M | -48.00M | -104.00M | -62.00M | |
| Miscellaneous Cash Flow Adjustments | 44.00M | -46.00M | ||||
| Net Cash Flow | 164.00M | -365.00M | -333.00M | 2.28B | -909.00M | -70.00M |
| Free Cash Flow | 2.68B | 1.40B | 638.00M | 5.07B | 3.84B | 5.85B |
| Free Cash Flow Margin | 10.60% | 5.60% | 2.60% | 20.58% | 14.69% | 16.55% |
| Free Cash Flow Per Share | 5.06 | 2.58 | 1.16 | 9.14 | 6.77 | 10.00 |
| Levered Free Cash Flow | 6.37B | 1.26B | 1.65B | -1.84B | 1.34B | 5.02B |
| Unlevered Free Cash Flow | 6.91B | 1.85B | 2.40B | -1.25B | 1.63B | 5.33B |
| Cash Interest Paid | 467.00M | 467.00M | 505.00M | 520.00M | 440.00M | 472.00M |
| Cash Income Tax Paid | 800.00M | 800.00M | 852.00M | 1.38B | 1.32B | 1.70B |
| Change in Working Capital | -2.30B | -3.20B | -5.22B | 15.30B | 184.00M | -524.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 90.09B | 85.05B | 70.30B | 60.38B | 69.10B | 102.36B |
| Enterprise Value | 98.29B | 93.09B | 76.92B | 72.14B | 82.22B | 115.70B |
| Last Close Price | 174.34 | 157.87 | 124.94 | 85.50 | 88.44 | 125.67 |
| PE Ratio | 26.09 | 26.17 | 16.85 | 11.96 | 17.29 | |
| Forward PE | 18.06 | 19.00 | 17.04 | 11.22 | 11.59 | 17.96 |
| PS Ratio | 3.57 | 3.41 | 2.86 | 2.45 | 2.64 | 2.90 |
| PB Ratio | 21.83 | 17.92 | 18.05 | 12.40 | 4.68 | 6.77 |
| P/FCF Ratio | 33.65 | 60.92 | 110.18 | 11.92 | 17.99 | 17.49 |
| P/OCF Ratio | 24.82 | 36.88 | 38.65 | 9.04 | 12.36 | 13.73 |
| PEG Ratio | 1.98 | 2.35 | 3.73 | 5.31 | 3.86 | 2.77 |
| EV/Sales Ratio | 3.89 | 3.73 | 3.13 | 2.93 | 3.14 | 3.27 |
| EV/EBITDA Ratio | 15.13 | 15.47 | 14.23 | 17.48 | 11.97 | |
| EV/EBIT Ratio | 19.38 | 19.77 | 18.40 | 23.84 | 14.92 | |
| EV/FCF Ratio | 36.72 | 66.68 | 120.57 | 14.24 | 21.40 | 19.77 |
| Debt / Equity Ratio | 3.04 | 2.77 | 3.52 | 3.44 | 1.15 | 1.21 |
| Debt / EBITDA Ratio | 2.30 | 2.08 | 2.39 | 3.33 | 1.81 | |
| Debt / FCF Ratio | 5.83 | 9.41 | 21.46 | 3.31 | 4.41 | 3.13 |
| Net Debt / Equity Ratio | 1.60 | 1.09 | 1.53 | 2.25 | 0.88 | 0.90 |
| Net Debt / EBITDA Ratio | 1.26 | 0.86 | 1.10 | -1.25 | 2.78 | 1.40 |
| Net Debt / FCF Ratio | 3.06 | 3.72 | 9.35 | 2.17 | 3.40 | 2.32 |
| Asset Turnover | 0.66 | 0.64 | 0.54 | 0.51 | 0.56 | 0.75 |
| Inventory Turnover | 3.83 | 4.07 | 3.77 | 3.20 | 3.06 | 4.08 |
| Quick Ratio | 0.97 | 1.20 | 0.97 | 0.62 | 0.90 | 1.05 |
| Current Ratio | 1.41 | 1.71 | 1.41 | 1.07 | 1.54 | 1.71 |
| Return on Equity (ROE) | 72.97% | 75.50% | 91.85% | -85.41% | 26.95% | 42.28% |
| Return on Assets (ROA) | 8.22% | 7.58% | 5.78% | -13.14% | 4.61% | 10.27% |
| Return on Invested Capital (ROIC) | 33.87% | 36.36% | 27.13% | -46.72% | 11.66% | 22.63% |
| Return on Capital Employed (ROCE) | 18.30% | 16.70% | 14.60% | -28.90% | 9.30% | 20.40% |
| Earnings Yield | 3.83% | 3.82% | 5.94% | -11.58% | 8.36% | 5.78% |
| FCF Yield | 2.97% | 1.64% | 0.91% | 8.39% | 5.56% | 5.72% |
| Dividend Yield | 1.79% | 1.82% | 2.77% | 5.49% | 4.74% | 3.31% |
| Payout Ratio | 46.69% | 48.06% | 47.50% | 58.32% | 57.76% | |
| Buyback Yield / Dilution | 2.57% | 2.01% | 0.27% | 2.41% | 3.02% | -0.53% |
| Total Shareholder Return | 4.36% | 3.83% | 3.04% | 7.90% | 7.76% | 2.77% |