3M (MMM)
NYSE:MMM
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3M
(NYSE:MMM)
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Rating:56Neutral
Price Target:
$156.00
▲(0.94% Upside)
Action:ReiteratedDate:04/21/26
MMM scores in the mid-range: the earnings call provides the biggest support (reiterated guidance, margin/FCF improvement and strong shareholder returns), but overall fundamentals are capped by elevated leverage and a thin equity base. Technicals are mixed and valuation is not especially attractive given the higher P/E and low yield.
Positive Factors
Diversified Business Model
A broad multi-segment franchise reduces dependency on any single end market, smoothing cyclicality and supporting more stable revenue and cash generation over 2–6 months. Diverse product exposure also enables cross-selling, resilience to localized demand shocks, and flexibility in reallocating resources.
Negative Factors
Elevated Leverage
A meaningfully leveraged capital structure reduces financial flexibility and increases refinancing and covenant risk if operations weaken. Thin equity magnifies return volatility and limits the firm's capacity to absorb shocks, constraining strategic optionality over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Business Model
A broad multi-segment franchise reduces dependency on any single end market, smoothing cyclicality and supporting more stable revenue and cash generation over 2–6 months. Diverse product exposure also enables cross-selling, resilience to localized demand shocks, and flexibility in reallocating resources.
Read all positive factors
3M (MMM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$78.20B
Dividend Yield1.82%
Average Volume (3M)3.51M
Price to Earnings (P/E)29.4
Beta (1Y)1.06
Revenue Growth-13.09%
EPS Growth-20.63%
CountryUS
Employees61,500
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)2.14
Shares Outstanding526,700,000
10 Day Avg. Volume2,856,762
30 Day Avg. Volume3,507,251
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/Revenue3.37
Enterprise Value/Gross Profit8.53
Enterprise Value/Ebitda16.80
Forecast
1Y Price Target
$173.87Price Target Upside12.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)8.69
Revenue Forecast (FY)$25.10B
3M Business Overview & Revenue Model
Company Description
3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The Safety and Industrial segment offers industrial abrasives a...
How the Company Makes Money
3M primarily makes money by manufacturing and selling products to businesses, governments, and consumers through its operating segments, with revenue recognized largely from product sales (rather than subscriptions or usage-based fees). Key revenu...
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 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
155.53
Negative
159.39
Negative
157.41
Negative
Market Momentum
-0.12
Negative
58.94
Neutral
77.01
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 147.38, below the 50-day MA of 155.53, and below the 200-day MA of 157.41, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 58.94 is Neutral, neither overbought nor oversold. The STOCH value of 77.01 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 | $8.97B | ― | 3.36% | 0.63% | 1.23% | -22.77% | |
72 Outperform | $78.12B | 23.48 | 95.18% | 2.43% | -0.41% | -10.88% | |
69 Neutral | $81.44B | 30.81 | 11.60% | 1.58% | 2.97% | 18.14% | |
66 Neutral | $137.68B | 31.22 | 7.06% | 0.53% | 2.90% | -4.81% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $141.26B | -269.39 | 28.76% | 2.24% | 7.48% | 9.55% | |
56 Neutral | $78.20B | 29.42 | 66.03% | 1.82% | -13.09% | -20.63% |
* Industrials Sector Average
MMM
3M
145.78
9.41
6.90%
DHR
Danaher
184.04
-11.12
-5.70%
EMR
Emerson Electric Company
142.77
39.44
38.17%
HON
Honeywell International
219.97
34.81
18.80%
ITW
Illinois Tool Works
267.09
30.99
13.13%
VMI
Valmont
466.75
172.46
58.60%
3M Corporate Events
Executive/Board Changes
3M Appoints Neil Mitchill as Independent Board Director
Positive
Feb 5, 2026
On February 3, 2026, 3M’s board elected Neil G. Mitchill, Jr., currently executive vice president and chief financial officer of RTX Corporation, to join 3M’s Board of Directors effective February 6, 2026, and appointed him to the Audi...
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.