3M Company
- Open
- 171.00
- Day high
- 171.26
- Day low
- 168.08
- Prev close
- 170.24
- Volume
- 2.2M
- Mkt cap
- $86.9B
- P/E (TTM)
- 29.8
- EPS (TTM)
- $5.66
- P/B
- 29.5
- P/S
- 3.5
- Yield
- 1.82%
- Per share
- $3.07
- ▼Insiders net selling -$4.3M over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions mixed (13F)
3M Company (MMM) is a Industrials company listed on NYSE. The stock is up 12% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4). Drillr has 1 published research article covering MMM.
3M Company (MMM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MMM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 21, 2026 | $2.25 | $2.40 | +6.5% | $6.5B | +1.5% |
| May 12, 2026 | $1.98 | $2.14 | +8.2% | $6.0B | +0.3% |
| Jan 20, 2026 | $1.79 | $1.83 | +2.0% | $6.1B | +2.8% |
| Oct 21, 2025 | $2.07 | $2.19 | +5.8% | $6.5B | +4.3% |
| Jul 18, 2025 | $2.01 | $2.16 | +7.5% | $6.3B | +3.7% |
| Apr 22, 2025 | $1.78 | $1.88 | +5.6% | $6.0B | +3.4% |
| Jan 21, 2025 | $1.67 | $1.68 | +0.6% | $6.0B | +3.9% |
| Oct 22, 2024 | $1.91 | $1.98 | +3.7% | $6.3B | +3.9% |
| Jul 26, 2024 | $1.68 | $1.93 | +14.9% | $6.3B | +6.8% |
| Apr 30, 2024 | $2.10 | $2.39 | +13.8% | $8.0B | +4.9% |
| Jan 23, 2024 | $2.31 | $2.42 | +4.8% | $8.0B | +4.0% |
| Jul 25, 2023 | $1.65 | $2.17 | +31.5% | $8.3B | +5.8% |
MMM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 6, 2026 | Chavez Rodriguez Beatriz Karinaofficer: Group President | Sell | 3,635 | $182.51 |
| Jul 24, 2026 | Banovetz John Patrickofficer: Executive Vice President | Option | 7,880 | $154.69 |
| Jul 24, 2026 | Banovetz John Patrickofficer: Executive Vice President | Sell | 7,880 | $170.44 |
| Jul 24, 2026 | Reinseth Theresa Eofficer: Sr Vice President & CAO | Sell | 924 | $169.42 |
| Jul 23, 2026 | Goralski Christian T JRofficer: Group President | Option | 4,902 | $154.69 |
| Jul 23, 2026 | Rhodes Kevin Hofficer: EVP, Chief Legal Off & Secret | Option | 7,669 | $154.69 |
| Jul 23, 2026 | Rhodes Kevin Hofficer: EVP, Chief Legal Off & Secret | Sell | 7,669 | $171.20 |
| Jul 23, 2026 | Goralski Christian T JRofficer: Group President | Sell | 4,902 | $170.46 |
| Jul 2, 2026 | Bauer Wendy Aofficer: Group President | Option | 7,952 | $159.96 |
| Jul 2, 2026 | Bauer Wendy Aofficer: Group President | Tax | 3,558 | $159.96 |
| Jun 9, 2026 | RUMSEY JENNIFERdirector | Grant | 1,196 | $152.77 |
| May 13, 2026 | BROWN THOMAS Kdirector | Grant | 1,360 | $143.34 |
| May 13, 2026 | Kereere Suzandirector | Grant | 1,360 | $143.34 |
| May 13, 2026 | Mitchill Neil G. JRdirector | Grant | 1,360 | $143.34 |
| May 13, 2026 | PIZARRO PEDROdirector | Grant | 1,360 | $143.34 |
Source: MMM SEC Form 4 filings, latest Aug 6, 2026. For informational purposes only — not investment advice.
See the full MMM insider & 13F page →3M Company company profile
Overview
3M Company (NYSE:MMM) is a multinational conglomerate founded in 1902 and headquartered in St. Paul, Minnesota. Originally established as the Minnesota Mining and Manufacturing Company, 3M has evolved from a small-scale mining venture into one of the world's largest diversified technology companies. The company operates across multiple industries through four primary business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer products. 3M is known for its innovation-driven culture and holds thousands of patents across various technologies, from adhesives and abrasives to filtration and electronic materials.
Business
3M operates as a diversified technology conglomerate across four main business segments, each serving distinct markets with specialized products and solutions. The Safety and Industrial segment represents 3M's largest business, generating approximately 45% of total revenue with around $11 billion in annual sales. This division produces industrial abrasives and finishing products for metalworking applications, autobody repair solutions, closure systems for personal hygiene products, electrical products and materials for construction and power distribution, structural adhesives and tapes, and comprehensive safety solutions including respiratory protection, hearing protection, eye protection, and fall protection equipment. The segment also manufactures natural and color-coated mineral granules used in roofing shingles. The Transportation and Electronics segment accounts for roughly 30% of revenue, providing ceramic solutions for various applications, attachment tapes and films for automotive applications, sound and temperature management solutions for vehicles, premium large-format graphic films used in advertising and fleet signage, light management films for displays, electronics assembly solutions, packaging and interconnection solutions for electronic devices, and reflective signage materials for highway and vehicle safety applications. The Health Care segment, which 3M spun off in 2024, historically contributed about 25% of revenue. This division offered food safety indicator solutions, health care procedure coding and reimbursement software, skin and wound care products, infection prevention solutions, dentistry and orthodontia products, and filtration and purification systems for medical applications. The Consumer segment represents the smallest portion at approximately 20% of revenue, producing consumer bandages and first aid products, cleaning products for household use, retail abrasives and paint accessories, car care products for do-it-yourself consumers, picture hanging solutions, consumer air quality products, and various stationery items including the famous Post-it Notes and Scotch tape products.
Revenue model
3M generates revenue primarily through direct product sales across its diversified portfolio, operating on a traditional manufacturing business model where the company develops, produces, and sells physical products to various customer segments. The company's revenue streams come from selling products to a wide range of customers including industrial manufacturers, automotive companies, construction firms, healthcare providers, retailers, and end consumers. 3M distributes its products through multiple channels including e-commerce platforms, traditional wholesalers, retailers, jobbers, distributors, and dealers, allowing it to reach both business-to-business and business-to-consumer markets effectively. Several factors influence 3M's profitability and margins. Positive margin drivers include the company's strong focus on innovation and new product development, which allows premium pricing for differentiated solutions; operational excellence initiatives aimed at improving manufacturing efficiency and supply chain optimization; the company's global scale providing economies of scale in procurement and production; and its diversified portfolio offering some protection against cyclical downturns in individual markets. Margin pressures come from raw material cost inflation, particularly for petroleum-based chemicals and metals used in manufacturing; intense competition in many product categories leading to pricing pressure; economic cyclicality affecting industrial and automotive end markets; regulatory compliance costs, especially related to environmental and safety standards; and significant litigation expenses related to PFAS (per- and polyfluoroalkyl substances) and other product liability issues. Additionally, tariffs on imported materials and potential trade restrictions can impact input costs and supply chain efficiency. The company's business model benefits from recurring demand patterns in many categories, as products like safety equipment, industrial supplies, and consumer goods require regular replacement, providing relatively stable revenue streams across economic cycles.
Competitive moat
3M's competitive moat is moderately strong but faces increasing challenges from multiple directions. The company's primary competitive advantages stem from its extensive patent portfolio, with thousands of patents protecting key technologies across adhesives, abrasives, filtration, and materials science. This intellectual property creates barriers to entry and allows for premium pricing in many product categories. The company's innovation capabilities and R&D infrastructure represent another significant moat element. 3M's culture of innovation, supported by substantial R&D investments and cross-pollination of technologies across business segments, enables the development of differentiated products that command higher margins. The company's ability to apply core technologies like adhesion, filtration, and surface modification across multiple industries creates synergies that are difficult for focused competitors to replicate. 3M's global manufacturing and distribution network provides scale advantages and customer proximity that smaller competitors struggle to match. The company's established relationships with large industrial customers, built over decades, create switching costs and provide preferred supplier status in many categories. However, 3M's moat faces several challenges. Commoditization pressure affects many product categories as patents expire and competitors develop alternative solutions. The company's diversified approach, while providing stability, may result in less focused innovation compared to specialized competitors in individual markets. Additionally, regulatory and litigation risks, particularly around PFAS chemicals and other environmental concerns, threaten both financial resources and market access. Technological disruption poses another threat, as digital solutions and new materials science advances could make some of 3M's traditional products obsolete. The rise of Chinese manufacturers with lower cost structures also pressures margins in commodity-like product categories. Overall, while 3M maintains competitive advantages, the moat is narrower than it once was and requires continuous innovation and operational excellence to maintain.
Risks & safety
3M presents a mixed margin of safety profile with both strengths and concerns for investors. **Liquidity and Solvency:** - Strong cash position of $5.6 billion as of Q4 2024 - Current ratio of 1.41, indicating adequate short-term liquidity - High debt-to-equity ratio of 3.56, reflecting significant leverage - Negative free cash flow in recent quarters (-$315 million in Q1 2025) raises some concern - Total liabilities of $35.4 billion against $39.9 billion in total assets **Valuation Metrics:** - P/E ratio of 17.9 appears reasonable for a mature industrial company - EV/EBITDA of 11.4 suggests moderate valuation - Price-to-book ratio of 17.9 indicates premium valuation relative to book value **Other Considerations:** - Substantial litigation reserves and ongoing PFAS-related legal expenses create uncertainty - Recent spin-off of Healthcare division completed, simplifying business structure - Dividend sustainability supported by strong historical cash generation, though recent free cash flow weakness is concerning - Management's focus on operational improvements and new product launches provides potential upside catalysts
Recent development
Over the past few years, 3M has undergone significant strategic transformation under new leadership. The most significant development was the spin-off of the Healthcare business in 2024, which simplified the company's structure and allowed management to focus on the remaining three core segments. Under CEO Bill Brown's leadership, the company has implemented a comprehensive operational excellence program focused on three key priorities: driving sustained organic growth, improving operational performance, and effective capital deployment. This includes major investments in R&D effectiveness, with new product launches increasing from 128 in 2023 to 169 in 2024, representing a 32% increase. The company targets launching over 1,000 new products over the next three years. 3M has made substantial improvements in manufacturing and supply chain efficiency. The company improved its on-time, in-full delivery performance to 89% and is targeting 90% by 2025. Equipment utilization efficiency has increased to 58%, with a long-term target of 80%. The company is also reducing inventory days from 94 to a target of 75 days. The company has taken decisive action on environmental and legal challenges, committing to exit PFAS manufacturing by the end of 2025 and establishing litigation reserves to address ongoing legal matters. This includes the Chapter 11 proceedings for Aearo Technologies to resolve Combat Arms earplug litigation. Commercial excellence initiatives have included tripling sales manager and representative reviews, completing over 100 joint business plans with major customers, and building a cross-selling pipeline worth $40 million across 23 product pairs. The company has also increased its share repurchase authorization to $7.5 billion, demonstrating confidence in its strategic direction and commitment to returning capital to shareholders.
MMM company profile · for informational purposes only — not investment advice.
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