MMM

3M CO

Healthcare • CIK: 0000066740

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Market Cap
$83.77B
P/E (TTM)
24.6x
Rev Growth (TTM)
+1.1%
Net Margin (TTM)
13.7%
FCF Yield (TTM)
1.9%
FCF Margin (TTM)
6.4%

Filing Intelligence

4.0/10
10-K filed Feb 3, 2026 • FYNone

Executive Summary

3M's operating margins were negatively impacted by significant litigation costs and costs associated with exiting PFAS manufacturing.. Revenue was driven by strength in safety and industrial...

Key Concerns

  • ●Significant ongoing litigation and regulatory proceedings worldwide carry unpredictable outcomes that could materially adversely affect the...
  • ●A substantial $6.0 billion settlement for Combat Arms Earplugs litigation poses ongoing risks, including potential for additional claims,...
  • ●PFAS Litigation and Regulatory Exposure (high)
View Full Quarterly Insights →

LATEST EARNINGS

•
Q4 FY2025
•
2 months ago
•View source
Revenue
$6.13B
+2.1%
Net Income
$577.00M
-20.7%
EPS
$1.07
-19.6%
Operating
13.0%↓ -5.1%
Net
9.4%↓ -2.7%
  • •Adjusted EPS of $1.83, up 9% year-on-year for Q4.
  • •Adjusted operating income margin of 21.1%, an increase of 140 basis points year-on-year for Q4.
  • •Full-year adjusted EPS of $8.06, up 10% year-on-year.
  • •Full-year adjusted operating income margin of 23.4%, an increase of 200 basis points year-on-year.
View Full Earnings →

Cash Flow Health

Free Cash Flow5/8 positive
TTM$1.6B
Q3 '25
$1.5B+232%
Q2 '25
$-1.2B-269%
FCF Margin
TTM6.4%
Q3 '2523.6%+229%
Sector: 0.0%Top 25%
OCF Margin10.2%
OCF/NI0.75x
CapEx Coverage2.7x
FCF Yield1.9%
FCF Growth (2Y)-26%
Cash Conversion Cycle
0 days
DSO: 0+DIO: 0−DPO: 0
View Insights from Latest Filing →View Full Cash Flow Statement →

Capital Allocation & Returns

Shareholder Friendly
Total Shareholder YieldTTM
TTM5.9%
Div Yield1.9%
+
Buyback (TTM)4.1%

Strong capital returns to shareholders

Dividend & Payout Metrics
Dividend Yield (TTM)1.9%
FCF Payout Ratio98.2%
Free Cash Flow (TTM)$1.6B
Stock Repurchases (TTM)$3.4B
Capital Return / FCF312.2%
Est. Dividends Paid (TTM)$1.6B
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
–
Stable
+6.9%
P25MedianP75
(med: -0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
15.8%
8Q: 16.5%
Asset Turnover
0.00x
8Q: 0.60x
Leverage (1+D/E)
3.72x
D/E: 2.72x
Asset & CapEx Efficiency
CapEx/Depreciation
0.79x
Depreciation Rate Trend
⚠ Declining -2.4%
Asset-based ROIC formula
Full Analysis

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023
Revenue
$24.8B
$6.5B↑2.7%
$6.3B↑6.6%
$6.0B↓0.9%
$6.0B↓4.5%
$6.3B↑0.6%
$6.3B↑4.0%
$6.0B↑0.2%
$6.0B
Operating Income
$4.9B
$1.4B↑26.9%
$1.1B↓8.5%
$1.2B
$0↓100.0%
$1.1B↓17.6%
$1.3B↑3.5%
$1.3B↑10.7%
$1.1B
Net Income
$3.4B
$834.0M↑15.4%
$723.0M↓35.2%
$1.1B↑53.3%
$728.0M↓46.9%
$1.4B↑19.8%
$1.1B↑23.4%
$928.0M↓1.8%
$945.0M
Operating Cash Flow
$2.5B
$1.8B↑284.1%
$-954.0M↓1107.6%
$-79.0M↓104.3%
$1.8B↑201.7%
$-1.8B↓275.0%
$1.0B↑33.1%
$767.0M↓61.4%
$2.0B
Free Cash Flow
$1.6B
$1.5B↑232.4%
$-1.2B↓268.9%
$-315.0M↓120.6%
$1.5B↑175.1%
$-2.0B↓370.3%
$752.0M↑91.8%
$392.0M↓75.9%
$1.6B
Total Equity
N/A
Income StatementCash Flow StatementBalance Sheet

Valuation Analysis

Fair Value
Price-to-EarningsTTM
24.6x
Volatile
8Q: 68.0x+5006%
Valuation Lenses
Earnings
24.6x
vs – sector
Cash Flow
52.7x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
1.9%
Buyback
4.1%
Total Yield
5.9%
Market Cap$83.77B
EV$83.77B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
78/100
High Quality

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)
–
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
+6.9%
vs Sector:-0.0%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 15.8%
Asset Turnover: 0.00x

Earnings Quality

Cash Conversion

0.75x

OCF / Net Income

FCF Consistency

–

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin40.9%

Capital Efficiency

Invested Capital Turnover–

Working Capital

Cash Conversion Cycle0 days

Growth Quality & Momentum

Low Quality
Growth Quality Score
41/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
1.1%
OpInc Growth YoY
33.4%
EPS Growth YoY
-21.0%
FCF 3Y CAGR
-25.7%

Growth Quality Analysis

⚠Working Capital Drag: FCF growth lagging revenue by 26.8%
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
40.9%
Operating
19.8%
Top 25% in sector
Net
13.7%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-7.3 pts
FCF: 6.4% | Net: 13.7%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Leveraged
Net Debt / EBITDA
–Net Debt: $7.93B
Interest Coverage
–
Balance sheet risk & solvency analysis

Research

All research