3M Company (MMM)
NYSE:MMM
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3M
(NYSE:MMM)
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Rating:55Neutral
Price Target:
$158.00
â–²(2.23% Upside)
Action:Reiterated
Date:06/08/26
The score is held back primarily by balance-sheet leverage risk despite an earnings and cash-flow recovery. The latest earnings call adds support via reiterated guidance, margin expansion plans, and strong capital returns, while technicals are moderately positive and valuation remains a headwind due to a high P/E and only modest yield.
Positive Factors
Free cash flow strength
A reiterated target of >$4.5B FCF and >100% conversion reflects durable cash-generation capacity. Strong TTM FCF rebound supports capital returns and provides flexibility to fund investments, reduce leverage or withstand macro shocks without relying on external financing.
Negative Factors
Elevated leverage and thin equity
High debt relative to a compressed equity base raises balance-sheet risk and amplifies earnings volatility. Elevated leverage constrains strategic flexibility, increases sensitivity to cash-flow shocks, and can limit investment or M&A optionality if macro conditions deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow strength
A reiterated target of >$4.5B FCF and >100% conversion reflects durable cash-generation capacity. Strong TTM FCF rebound supports capital returns and provides flexibility to fund investments, reduce leverage or withstand macro shocks without relying on external financing.
Read all positive factors
3M Key Performance Indicators (KPIs)
Any
Net Sales by Segment
Shows sales performance across different business segments, highlighting which areas are driving growth and which may need strategic adjustments.
Shows sales performance across different business segments, highlighting which areas are driving growth and which may need strategic adjustments.
Data provided by:
The Fly
The Fly3M (MMM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$81.81B
Dividend Yield1.82%
Average Volume (3M)3.76M
Price to Earnings (P/E)29.8
Beta (1Y)1.03
Revenue Growth2.08%
EPS Growth-34.33%
CountryUS
Employees61,500
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)5.22
Shares Outstanding521,567,260
10 Day Avg. Volume3,375,284
30 Day Avg. Volume3,762,583
Financial Highlights & Ratios
PEG Ratio-1.30
Price to Book (P/B)18.19
Price to Sales (P/S)3.43
P/FCF Ratio61.28
Enterprise Value/Market Cap1.08
Enterprise Value/Revenue3.54
Enterprise Value/Gross Profit8.97
Enterprise Value/Ebitda17.66
Forecast
1Y Price Target
$168.71Price Target Upside9.16% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)8.69
Revenue Forecast (FY)$25.08B
3M Business Overview & Revenue Model
Company Description
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 Consume...
How the Company Makes Money
3M makes money primarily by manufacturing and selling consumable and durable products that incorporate its materials science and engineering capabilities, distributed through a mix of direct sales and channel partners. The company’s key revenue st...
3M Earnings Call Summary
Earnings Call Date:Apr 21, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call conveyed solid operational execution and financial discipline with multi-dimensional improvements (EPS +14%, margin expansion, stronger liquidity, orders +10% and backlog growth) and strategic progress (new products, data center/EBO capacity, safety M&A and footprint simplification). Notwithstanding, there are meaningful pockets of demand weakness (consumer electronics, U.S. consumer, automotive in China), tariff and oil-cost headwinds (~$145M and ~$125M respectively), and a retained EPS contingency of $0.05–$0.15 reflecting macro uncertainty. On balance, the positive operational momentum, strong cash returns to shareholders and reiterated guidance outweigh the noted headwinds, though the outlook remains dependent on backlog conversion and commodity/geo-political developments.Positive Updates
Earnings per Share Growth
Adjusted EPS of $2.14 in Q1, up ~14% year-over-year (improvement of $0.26), driven by volume, productivity and lower share count.
Negative Updates
Soft Top-Line Start to the Year
Q1 organic sales growth of only 1.2% (company described as a 'light start' to the year) with reliance on order/backlog conversion to accelerate later in the year.
Read all updates
Q1-2026 Updates
Positive
Negative
Earnings per Share Growth
Adjusted EPS of $2.14 in Q1, up ~14% year-over-year (improvement of $0.26), driven by volume, productivity and lower share count.
Read all positive updates
Company Guidance
3M reiterated full‑year 2026 guidance of approximately 3% organic sales growth, adjusted EPS of $8.50–$8.70, and free‑cash‑flow conversion >100% (free cash flow >$4.5B), while expecting roughly 100 basis points of business‑group margin expansion for the year after a Q1 adjusted operating margin of 23.8% (up 30 bps) and Q1 free cash flow of $540M (up ~10%); management sees Q2 organic growth >3% (SIBG >3.2%, TEBG low‑single‑digit, CBG flat‑to‑positive), Q2 operating margin near 24.5% and Q2 EPS up >$0.05 (first‑half EPS growth ~+$0.30), assumes ~80 bps of pricing for the year plus ~50 bps of oil‑driven pricing (~130 bps total) to offset ~ $125M of oil cost pressure, and noted strong capital returns (Q1 return of $2.4B including ~$400M dividends and ~$2B buybacks) with >$7B returned of a $10B program.3M Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
38
Negative
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.02B | 24.95B | 24.57B | 24.61B | 34.23B | 35.35B |
| Gross Profit | 9.89B | 9.87B | 10.08B | 9.57B | 14.97B | 16.61B |
| EBITDA | 5.02B | 5.85B | 7.22B | -8.91B | 8.72B | 9.58B |
| Net Income | 2.79B | 3.25B | 4.17B | -7.00B | 5.78B | 5.92B |
Balance Sheet | ||||||
| Total Assets | 35.44B | 37.73B | 39.87B | 50.58B | 46.45B | 47.07B |
| Cash, Cash Equivalents and Short-Term Investments | 4.15B | 5.93B | 7.73B | 5.79B | 3.89B | 4.76B |
| Total Debt | 12.56B | 12.94B | 13.66B | 16.75B | 16.86B | 18.31B |
| Total Liabilities | 32.13B | 32.99B | 35.97B | 45.71B | 31.68B | 31.95B |
| Stockholders Equity | 3.26B | 4.70B | 3.84B | 4.81B | 14.72B | 15.05B |
Cash Flow | ||||||
| Free Cash Flow | 2.06B | 1.40B | 638.00M | 5.07B | 3.84B | 5.85B |
| Operating Cash Flow | 2.96B | 2.31B | 1.82B | 6.68B | 5.59B | 7.45B |
| Investing Cash Flow | 190.00M | 1.35B | -3.21B | -1.21B | -1.05B | -1.32B |
| Financing Cash Flow | -5.72B | -4.02B | 1.10B | -3.15B | -5.35B | -6.14B |
3M Technical Analysis
Positive
154.55
Price Trends
148.23
Positive
152.62
Positive
156.17
Positive
Market Momentum
2.22
Negative
64.15
Neutral
69.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MMM, the sentiment is Positive. The current price of 154.55 is above the 20-day moving average (MA) of 151.65, above the 50-day MA of 148.23, and below the 200-day MA of 156.17, indicating a bullish trend. The MACD of 2.22 indicates Negative momentum. The RSI at 64.15 is Neutral, neither overbought nor oversold. The STOCH value of 69.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MMM.
3M Risk Analysis
3M disclosed 16 risk factors in its most recent earnings report. 3M reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
3M Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $9.94B | 28.93 | 21.43% | 0.63% | 2.40% | 4.95% | |
71 Outperform | $76.80B | 31.45 | 12.11% | 1.58% | 4.03% | 3.51% | |
70 Outperform | $71.97B | 23.01 | 97.38% | 2.43% | 2.90% | -5.25% | |
69 Neutral | $129.97B | 35.24 | 7.06% | 0.53% | 4.02% | 0.05% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $130.46B | 31.86 | 23.56% | 2.24% | 1.15% | -19.00% | |
55 Neutral | $81.81B | 29.78 | 66.03% | 1.82% | 2.08% | -34.33% |
* Industrials Sector Average
MMM
3M
156.85
14.74
10.37%
DHR
Danaher
183.63
-20.07
-9.85%
EMR
Emerson Electric Company
137.11
12.42
9.96%
HON
Honeywell International
205.88
-2.55
-1.22%
ITW
Illinois Tool Works
250.17
10.23
4.26%
VMI
Valmont
512.25
189.52
58.72%
3M Corporate Events
Executive/Board Changes
3M Appoints Cummins CEO Jennifer Rumsey to Board
Positive
Jun 8, 2026
On June 8, 2026, 3M announced that Jennifer W. Rumsey, chair and chief executive officer of Cummins Inc., was elected to its board of directors, effective June 5, 2026, and appointed to the board’s Science, Technology and Sustainability Comm...
Business Operations and StrategyShareholder Meetings
3M Shareholders Back Board, Auditor and Executive Pay
Positive
May 13, 2026
On May 12, 2026, 3M held its 2026 annual meeting of shareholders, where investors elected all ten director nominees to the board for one-year terms, signaling broad support for the company’s current leadership slate. Shareholders also ratifi...
Private Placements and FinancingRegulatory Filings and Compliance
3M Establishes New Material Financing Facility Agreement
Neutral
May 6, 2026
3M Company disclosed that it entered into a material definitive agreement related to a financing facility, as referenced in a filing made under the Securities Exchange Act of 1934. The report was formally executed on May 6, 2026, by Executive Vice...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.