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Stocks/Industrials/Industrial Conglomerates

3MMMM

Industrial Conglomerates · Saint Paul, Minnesota · In the S&P 500
Solid businessCheaper than peers
$174.34−1.70%After hours: $174.17 (−0.10%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 5.9% over 1 year
3M over 1 yearDaily close, $, to 30 Oct 2026
$140$160$180Nov2026MarMayJulSep$174.34$140$160$180NovMarJul$174.34
Source: Nasdaq daily closes
Market value$90.09B
Price to earnings26.0x
Forward P/E18.7x
Dividend yield1.79%
Year to date+8.9%
One year+5.9%
Next earningsNot scheduled
SectorIndustrials
52-week range (closes)
$141.20$183.78

Quality and valuation

How 3M compares with other industrials stocks. A description, not a recommendation.

3M and 7 industrial conglomerates peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: cheaper than most

An average business among industrials companies, priced below most of them.

3M trades at 18.7 times the next 12 months of expected earnings, against a median of 21.4x for the 89 industrials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +1.7% vs +8.2%
  • Keeps more of each sale (gross margin): 39.5% vs 38.1%
  • More profitable (operating margin): 18.8% vs 17.5%
  • Turns less of its sales into cash: 10.6% vs 13.1%
MMM trades at 18.7x forward earnings, below the sector medianForward p/e, Industrial Conglomerates peers
MMM18.7xLMT20.6xCAT21.6xUNP22.3xRTX26.8xDE32.3xGE35.7xGEV40.8xSector median 21.4xMMM18.7xLMT20.6xCAT21.6xUNP22.3xRTX26.8xDE32.3xGE35.7xGEV40.8xSector median 21.4x
Source: CNBC quotes; Mostly Markets
At 26.0x earnings, MMM is pricier than its average since Oct 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
20x30xAverage 23.6x2025202626.0x20x30xAverage 23.6x2025202626.0x
Source: Nasdaq prices; SEC filings

Financials

From 3M's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 1.0% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$2bn$4bn$6bnQ4 ’24Q2 ’25Q4 ’25$6.6bnQ3 ’26$0bn$2bn$5bnQ4 ’24Q2 ’25Q4 ’25$6.6bnQ3 ’26
Source: SEC filings
Growth slowed to +1.0% last quarterRevenue growth, year on year, %
0%2%Q4 ’24Q2 ’25Q4 ’251.0%Q3 ’260%2%Q4 ’24Q2 ’25Q4 ’251.0%Q3 ’26
Source: SEC filings
Operating margin was 23.7% last quarterOperating income as a share of revenue, %
0%10%20%Q4 ’24Q2 ’25Q4 ’2523.7%Q3 ’260%10%20%Q4 ’24Q2 ’25Q4 ’2523.7%Q3 ’26
Source: SEC filings
Free cash flow was $2.7 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$-1bn$0bn$1bnQ4 ’24Q2 ’25Q4 ’25$0.2bnQ3 ’26$-1bn$0bn$1bnQ4 ’24Q2 ’25Q4 ’25$0.2bnQ3 ’26
Source: SEC filings
Last 12 monthsMMMSector median
Revenue growth+1.7%+8.2%
Gross margin39.5%38.1%
Operating margin18.8%17.5%
Free cash flow margin10.6%13.1%
Price to earnings26.0x25.8x

Stories on 3M

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Similar companies

Industrial Conglomerates, by market value.

CompanyPriceTodayYTDValue
GEGE Aerospace$301.80−3.59%−2.0%$312B
CATCaterpillar$622.75−3.81%+8.7%$286B
RTXRTX$199.80+0.20%+8.9%$270B
GEVGE Vernova$857.87−3.38%+31.3%$227B
DEDeere &$675.48+2.35%+45.1%$182B
UNPUnion Pacific$304.00+0.69%+31.4%$181B
LMTLockheed Martin$636.95−1.03%+31.7%$147B
ETNEaton$369.97−6.03%+16.2%$144B