3M (MMM) stock
Industrials · Industrial Conglomerates
3M (MMM) is an Industrial Conglomerates company in the Industrials sector, headquartered in Saint Paul, Minnesota. As of October 23, 2026, MMM closed at $173.46, a market capitalization of $89.46 billion, the 138th largest company in the S&P 500. Over the last twelve months it generated $25.25 billion in revenue (+1% year over year) and $3.98 billion in free cash flow. The stock trades at 25.9x trailing earnings and 17.5x forward earnings.
- 1-year total return: +2.9% (dividends reinvested)
- 5-year return: +6.5% a year
- 52-week range: $139.34 – $184.90
- Gross margin 39.5%, operating margin 23.7%
- Dividend yield: 1.80%, 1 straight years of increases
- FI Handbook report card: B- across 10 metrics
- 18th largest of 83 Industrials stocks in the S&P 500
MMM price chart
1Y price change: +1.1% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MMM | +1.9% | +9.9% | +2.9% | +38.1% | +6.5% | +5.4% | +9.3% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1962.
MMM key statistics
- Market cap
- $89.5B
- #138 in S&P 500
- P/E (TTM)
- 25.9x
- Forward P/E
- 17.5x
- EPS (TTM)
- $6.70
- Revenue (TTM)
- $25.2B
- +1%
- Free cash flow
- $4.0B
- Gross margin
- 39.5%
- Operating margin
- 23.7%
- Return on equity
- 73.0%
- Dividend yield
- 1.80%
- 52-week range
- $139.34 – $184.90
- Beta
- 1.06
- Price / sales
- 3.5x
- EV / EBITDA
- 15.2x
- Debt / equity
- 3.04x
- Employees
- 60,500
MMM report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth1.0%D
- Gross margin39.5%C
- Operating margin23.7%B
- FCF margin15.8%B
- Return on equity73.0%A
- Net debt / EBITDA1.3xC
- Forward P/E17.5xB
- PEG ratio1.5xC
- Shareholder yield5.4%A
- Share count change / yr-4.9%A
3M financials
Revenue went from $30.1B in fiscal 2016 to $24.9B in fiscal 2025, shrinking 2.1% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $30.1B | $31.7B | $32.8B | $32.1B | $32.2B | $35.4B | $26.2B | $24.6B | $24.6B | $24.9B |
| Gross profit | $15.0B | $15.6B | $16.1B | $15.0B | $15.6B | $16.6B | $10.3B | $9.6B | $10.1B | $10.0B |
| Operating income | $7.0B | $7.7B | $7.2B | $6.2B | $7.2B | $7.4B | $4.4B | -$10.7B | $4.8B | $4.6B |
| Net income | $5.0B | $4.9B | $5.3B | $4.5B | $5.4B | $5.9B | $5.8B | -$7.0B | $4.2B | $3.3B |
| EPS (diluted) | $6.82 | $6.63 | $7.43 | $6.45 | $7.83 | $8.46 | $10.18 | $-12.63 | $7.55 | $6.00 |
| Free cash flow | $5.2B | $4.9B | $4.9B | $5.4B | $6.6B | $5.9B | $3.8B | $5.1B | $638.0M | $1.4B |
| Buybacks | $3.8B | $2.1B | $4.9B | $1.4B | $368.0M | $2.2B | $1.5B | $33.0M | $1.8B | $3.3B |
| Dividends paid | $2.7B | $2.8B | $3.2B | $3.3B | $3.4B | $3.4B | $3.4B | $3.3B | $2.0B | $1.6B |
| Diluted shares | 740.0M | 732.8M | 720.0M | 699.8M | 696.3M | 700.0M | 567.6M | 553.9M | 552.4M | 541.3M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MMM?
A reverse DCF asks what growth the current price requires. With an enterprise value of $97.7B and $4.0B of trailing free cash flow, 3M needs to grow free cash flow about 15.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -26.7% a year over the last five years.
P/E ratio history
Current 28.9x vs. median 19.5x (10th–90th percentile 11.8x–25.1x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MMM dividend
- Dividend yield
- 1.80%
- Annual dividend
- $3.12
- Years of increases
- 1
- 5-yr dividend growth
- -9.9%
- per year
- Payout ratio
- 46%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MMM analyst price targets
18 analysts' average 12-month target is $189.98 (+10% vs. $173.46). Targets range from $125.00 to $230.00. 47% rate it a buy.
MMM earnings
Next report: January 19, 2027. 3M has beaten EPS estimates 8 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 20, 2026 | $2.38 | $2.46 | +3.2% |
| Jul 21, 2026 | $2.25 | $2.40 | +6.8% |
| Apr 21, 2026 | $1.98 | $2.14 | +7.9% |
| Jan 20, 2026 | $1.80 | $1.83 | +1.8% |
| Oct 21, 2025 | $2.07 | $2.19 | +5.6% |
| Jul 18, 2025 | $2.01 | $2.16 | +7.4% |
| Apr 22, 2025 | $1.77 | $1.88 | +6.4% |
| Jan 21, 2025 | $1.54 | $1.68 | +9.3% |
Stocks like MMM
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 HON Honeywell International | +1.30% | +3% | $70.1B | 11.0x | Compare |
 DD DuPont de Nemours | +1.07% | +36% | $18.4B | 36.7x | Compare |
 CAT Caterpillar | -2.42% | +33% | $315.8B | 29.6x | Compare |
 GE GE Aerospace | -2.69% | -6% | $296.4B | 32.6x | Compare |
 RTX RTX | -1.90% | +8% | $257.8B | 31.1x | Compare |
 GEV GE Vernova | -1.50% | +37% | $217.1B | 23.4x | Compare |
 DE Deere & | +0.39% | +39% | $174.2B | 35.9x | Compare |
 UNP Union Pacific | -1.75% | +36% | $174.0B | 22.8x | Compare |
MMM news
- Why 3M’s Amazon Deal Could Be a Big Game Changer for MMM Stock · Oct 23, 2026
- Post-it Notes maker 3M eyes AI gold rush in major Amazon deal · Oct 23, 2026
- 3M (MMM) Stock Ignores Q3 Earnings Power And Margin Reset · Oct 22, 2026
- 3M's Amazon Deal Advances Data Center Growth Opportunity, RBC Says · Oct 21, 2026
- 3M and AWS collaborate to advance optical connectivity innovation · Oct 21, 2026
MMM stock FAQ
What is MMM's market cap?
3M's market capitalization is $89.46 billion as of October 23, 2026, ranking 138th in the S&P 500.
What is MMM's P/E ratio?
MMM trades at a trailing price-to-earnings ratio of 25.9x and a forward P/E of 17.5x. Its median P/E over the period we track is 19.5x.
Does MMM pay a dividend?
Yes. 3M pays $3.12 per share a year, a 1.80% yield. It has raised its dividend 1 years in a row. Dividends fell 9.9% a year over the last five years.
How much has MMM stock returned?
Including reinvested dividends, MMM returned +2.9% over one year, +6.5% a year over five years, +5.4% a year over ten years through October 23, 2026.
Is MMM stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies 3M must grow free cash flow about 16% a year for the next decade. Its free cash flow fell 27% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the MMM price target?
18 analysts cover MMM with an average 12-month price target of $189.98, +10% from the current price. 47% of them rate it a buy.
When does MMM report earnings?
3M is expected to report earnings on January 19, 2027. It has beaten EPS estimates 8 quarters in a row.
How many employees does 3M have?
3M has about 60,500 full-time employees, or $417,306 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology