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3M (MMM) Financials

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$155.88 -1.68 (-1.06%)
As of 01:39 PM Eastern
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Annual Income Statements for 3M

Annual Income Statements for 3M

This table shows 3M's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 4,956 4,833 5,050 4,858 5,349 4,517 5,449 5,921 5,777 -6,995 4,173
Consolidated Net Income / (Loss)		 4,998 4,841 5,058 4,869 5,363 4,529 5,453 5,929 5,791 -6,979 4,188
Net Income / (Loss) Continuing Operations		 4,998 4,841 5,058 4,869 5,363 4,529 5,458 5,919 4,016 -8,404 4,015
Total Pre-Tax Income 		7,026 6,823 7,053 7,548 7,000 5,643 6,795 7,204 4,204 -11,271 4,819
Total Operating Income		 7,135 6,946 7,027 7,692 7,207 6,174 7,161 7,369 4,369 -10,689 4,822
Total Gross Profit		 15,374 14,891 14,991 15,602 16,083 15,000 15,579 16,560 10,308 9,627 10,128
Total Revenue		 31,821 30,274 30,109 31,657 32,765 32,136 32,184 35,355 26,161 24,610 24,575
Operating Revenue		 31,821 30,274 30,109 31,657 32,765 32,136 32,184 35,355 26,161 24,610 24,575
Total Cost of Revenue		 16,447 15,383 15,118 16,055 16,682 17,136 16,605 18,795 15,853 14,983 14,447
Operating Cost of Revenue		 16,447 15,383 15,118 16,055 16,682 17,136 16,605 18,795 15,853 14,983 14,447
Total Operating Expenses		 8,239 7,992 7,964 7,910 8,876 8,826 8,418 9,191 5,939 20,316 5,306
Selling, General & Admin Expense		 6,469 6,229 6,311 6,626 7,602 7,029 6,929 7,197 7,232 19,198 4,221
Research & Development Expense		 1,770 1,763 1,764 1,870 1,821 1,911 1,878 1,994 1,160 1,154 1,085
Impairment Charge		 - - - - - - 0.00 0.00 271 0.00 0.00
Restructuring Charge		 - -47 - - - - - 0.00 -2,724 -36 0.00
Total Other Income / (Expense), net		 -109 -123 26 -144 -207 -531 -366 -165 -165 -582 -3.00
Income Tax Expense		 2,028 1,982 1,995 2,679 1,637 1,114 1,337 1,285 188 -2,867 804
Net Income / (Loss) Discontinued Operations		 - - - - - - - - 1,764 1,407 164
Other Adjustments to Consolidated Net Income / (Loss)		 - - - - - 0.00 - 10 11 18 9.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 42 8.00 8.00 11 14 12 4.00 8.00 14 16 15
Basic Earnings per Share		 $7.63 $7.72 $8.35 $8.13 $9.09 $7.83 $9.43 $10.23 $10.21 ($12.63) $7.58
Weighted Average Basic Shares Outstanding		 649.20M 625.60M 604.70M 597.50M 588.50M 577M 577.60M 579M 566M 553.90M 550.80M
Diluted Earnings per Share		 $7.49 $7.58 $8.16 $7.93 $8.89 $7.72 $9.36 $10.12 $10.18 ($12.63) $7.55
Weighted Average Diluted Shares Outstanding		 662M 637.20M 618.70M 612.70M 602M 585.10M 582.20M 585.30M 567.60M 553.90M 552.40M
Weighted Average Basic & Diluted Shares Outstanding		 649.20M 625.60M 604.70M 597.50M 588.50M 575.60M 579.10M 571.10M 550.50M 552.70M 542.90M
Cash Dividends to Common per Share		 $3.42 $4.10 $4.44 $4.70 $5.44 $5.76 $5.88 $5.92 $5.96 $6.00 $3.61

Quarterly Income Statements for 3M

This table shows 3M's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 541 976 -6,841 -2,075 945 928 1,145 1,372 728 1,116 723
Consolidated Net Income / (Loss)		 543 981 -6,836 -2,071 947 933 1,151 1,376 728 1,122 725
Net Income / (Loss) Continuing Operations		 -1,229 979 -7,169 -2,525 311 709 1,207 1,373 503 1,120 678
Total Pre-Tax Income 		-1,591 1,189 -9,430 -3,302 272 929 1,410 1,721 451 1,385 923
Total Operating Income		 -1,538 1,241 -9,358 -3,096 524 1,149 1,272 1,316 733 1,246 1,140
Total Gross Profit		 -1,195 3,418 2,555 2,554 1,100 2,531 2,684 2,647 1,123 2,476 2,698
Total Revenue		 11 8,031 6,283 6,270 4,026 6,016 6,255 6,294 4,023 5,954 6,344
Operating Revenue		 11 8,031 6,283 6,270 4,026 6,016 6,255 6,294 4,023 5,954 6,344
Total Cost of Revenue		 1,206 4,613 3,728 3,716 2,926 3,485 3,571 3,647 2,900 3,478 3,646
Operating Cost of Revenue		 1,206 4,613 3,728 3,716 2,926 3,485 3,571 3,647 2,900 3,478 3,646
Total Operating Expenses		 343 2,177 11,913 5,650 576 1,382 1,412 1,331 390 1,230 1,558
Selling, General & Admin Expense		 329 1,705 11,615 5,419 459 1,128 1,132 1,062 291 945 1,267
Research & Development Expense		 -257 472 298 267 117 254 280 269 99 285 288
Restructuring Charge		 - - - -36 - - 0.00 0.00 - - 3.00
Total Other Income / (Expense), net		 -53 -52 -72 -206 -252 -220 138 405 -282 139 -217
Income Tax Expense		 -362 210 -2,261 -777 -39 220 203 348 -52 265 245
Net Income / (Loss) Discontinued Operations		 - - 330 452 - 223 -59 0.00 - 0.00 0.00
Other Adjustments to Consolidated Net Income / (Loss)		 8.00 2.00 3.00 2.00 11 1.00 3.00 3.00 2.00 2.00 47
Net Income / (Loss) Attributable to Noncontrolling Interest		 2.00 5.00 5.00 4.00 2.00 5.00 6.00 4.00 - 6.00 2.00
Basic Earnings per Share		 $0.96 $1.77 ($12.35) ($3.74) $1.71 $1.67 $2.07 $2.49 $1.32 $2.05 $1.35
Weighted Average Basic Shares Outstanding		 566M 552.70M 553.90M 554.30M 553.90M 555M 553.80M 550.60M 550.80M 543.80M 537.40M
Diluted Earnings per Share		 $0.96 $1.76 ($12.35) ($3.74) $1.71 $1.67 $2.07 $2.48 $1.32 $2.04 $1.34
Weighted Average Diluted Shares Outstanding		 567.60M 553.20M 553.90M 554.30M 553.90M 555.90M 554.80M 552.70M 552.40M 547.70M 540.60M
Weighted Average Basic & Diluted Shares Outstanding		 550.50M 551.67M 551.99M 552.32M 552.70M 553.36M 549.35M 544.56M 542.90M 538.18M 532.63M
Cash Dividends to Common per Share		 $1.45 $1.50 $1.50 $1.50 $1.49 $1.51 $0.70 $0.70 $0.70 $0.73 $0.73

Annual Cash Flow Statements for 3M

This table details how cash moves in and out of 3M's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 10 -99 600 655 -200 -500 2,281 -70 -909 2,278 -333
Net Cash From Operating Activities		 6,626 6,420 6,662 6,240 6,439 7,070 8,113 7,454 5,591 6,680 1,819
Net Cash From Continuing Operating Activities		 6,626 6,420 6,662 6,240 6,439 7,019 8,113 7,454 5,591 6,680 1,819
Net Income / (Loss) Continuing Operations		 4,998 4,841 5,058 4,869 5,363 4,529 5,453 5,929 5,791 -6,979 4,188
Consolidated Net Income / (Loss)		 4,998 4,841 5,058 4,869 5,363 4,529 5,453 5,929 5,791 -6,979 4,188
Depreciation Expense		 1,408 1,435 1,474 1,544 1,488 1,593 1,911 1,915 1,831 1,987 1,363
Non-Cash Adjustments To Reconcile Net Income		 280 364 54 -895 -203 494 45 300 -1,552 231 1,170
Changes in Operating Assets and Liabilities, net		 -69 -220 76 722 -209 403 704 -690 -479 11,441 -4,902
Net Cash From Investing Activities		 -596 -2,817 -1,403 -3,086 222 -6,444 -580 -1,317 -1,046 -1,207 -3,206
Net Cash From Continuing Investing Activities		 -596 -2,817 -1,403 -3,086 222 -6,444 -580 -1,317 -1,046 -1,207 -3,206
Purchase of Property, Plant & Equipment		 -1,493 -1,461 -1,420 -1,373 -1,577 -1,699 -1,501 -1,603 -1,749 -1,615 -1,181
Acquisitions		 -94 -2,914 -16 -2,023 - -4,984 -25 0.00 478 0.00 0.00
Purchase of Investments		 -1,280 -652 -1,410 -2,152 -1,828 -1,635 -1,579 -2,202 -1,250 -1,466 -4,153
Sale of Property, Plant & Equipment		 135 33 58 49 262 123 128 51 200 119 61
Divestitures		 0.00 123 142 1,065 859 236 576 0.00 13 60 0.00
Sale and/or Maturity of Investments		 2,034 1,952 1,247 1,354 2,497 1,443 1,811 2,406 1,261 1,660 2,074
Other Investing Activities, net		 102 102 -4.00 -6.00 9.00 72 10 31 1.00 35 -7.00
Net Cash From Financing Activities		 -5,909 -3,648 -4,626 -2,655 -6,701 -1,124 -5,300 -6,145 -5,350 -3,147 1,098
Net Cash From Continuing Financing Activities		 -6,603 -3,648 -4,626 -2,655 -6,701 -1,124 -5,300 -6,145 -5,350 -3,147 1,098
Repayment of Debt		 -1,617 -60 -1,831 -1,083 -1,374 -3,229 -3,723 -1,166 -899 -2,902 -2,957
Repurchase of Common Equity		 -5,652 -5,238 -3,753 -2,068 -4,870 -1,407 -368 -2,199 -1,464 -33 -1,801
Payment of Dividends		 -2,216 -2,561 -2,678 -2,803 -3,193 -3,316 -3,388 -3,420 -3,369 -3,311 -2,603
Issuance of Debt		 2,608 3,422 2,832 2,565 2,251 6,281 1,750 1.00 1.00 2,835 8,367
Issuance of Common Equity		 968 635 804 734 485 547 429 639 381 264 92
Effect of Exchange Rate Changes		 -111 -54 -33 156 -160 - 48 -62 -104 -48 -44

Quarterly Cash Flow Statements for 3M

This table details how cash moves in and out of 3M's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 251 169 434 882 793 4,978 -828 -4,033 -450 726 -2,614
Net Cash From Operating Activities		 1,922 1,275 1,509 1,910 1,986 767 1,021 -1,787 1,818 -79 -954
Net Cash From Continuing Operating Activities		 1,922 1,275 1,509 1,910 1,986 767 1,021 -1,787 1,818 -79 -954
Net Income / (Loss) Continuing Operations		 543 981 -6,836 -2,071 947 933 1,151 1,376 728 1,122 725
Consolidated Net Income / (Loss)		 543 981 -6,836 -2,071 947 933 1,151 1,376 728 1,122 725
Depreciation Expense		 460 466 449 535 537 430 301 310 322 290 290
Non-Cash Adjustments To Reconcile Net Income		 924 145 49 20 17 35 977 67 91 131 75
Changes in Operating Assets and Liabilities, net		 -5.00 -317 7,847 3,426 485 -631 -1,408 -3,540 677 -1,622 -2,044
Net Cash From Investing Activities		 -388 -386 -233 -287 -301 -393 -463 -1,204 -1,146 1,220 70
Net Cash From Continuing Investing Activities		 -388 -386 -233 -287 -301 -393 -463 -1,204 -1,146 1,220 70
Purchase of Property, Plant & Equipment		 -506 -475 -377 -405 -358 -375 -269 -246 -291 -236 -208
Purchase of Investments		 -410 -364 -411 -368 -323 -399 -544 -1,277 -1,933 -156 -263
Sale of Property, Plant & Equipment		 135 3.00 20 91 5.00 21 32 2.00 6.00 18 3.00
Sale and/or Maturity of Investments		 393 450 495 347 368 388 319 315 1,052 1,597 533
Net Cash From Financing Activities		 -1,315 -716 -803 -704 -924 4,621 -1,358 -1,085 -1,080 -422 -1,769
Net Cash From Continuing Financing Activities		 -1,315 -716 -803 -704 -924 4,621 -1,358 -1,085 -1,080 -422 -1,769
Repayment of Debt		 -31 -1,154 -6.00 -805 -937 -2,908 -7.00 -26 -16 -756 -509
Repurchase of Common Equity		 -536 -29 - -2.00 -2.00 -21 -400 -675 -705 -1,274 -953
Payment of Dividends		 -819 -827 -828 -828 -828 -835 -963 -422 -383 -396 -390
Issuance of Common Equity		 71 187 31 27 19 18 12 38 24 905 83

Annual Balance Sheets for 3M

This table presents 3M's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 31,209 32,883 32,906 37,987 36,500 44,659 47,344 47,072 46,455 50,580 39,868
Total Current Assets		 12,303 10,986 11,726 14,277 13,709 12,971 14,982 15,403 14,688 16,379 15,884
Cash & Equivalents		 1,897 1,798 2,398 3,053 2,853 2,353 4,634 4,564 3,655 5,735 5,600
Short-Term Investments		 1,439 118 280 1,076 380 98 404 201 238 50 2,128
Accounts Receivable		 4,238 4,154 4,392 4,911 5,020 4,791 4,705 4,660 4,532 3,601 3,194
Inventories, net		 3,706 3,518 3,385 4,034 4,366 4,134 4,239 4,985 5,372 3,944 3,698
Prepaid Expenses		 - - 821 937 741 704 675 654 435 344 493
Other Current Assets		 1,023 1,398 450 266 349 891 325 339 456 326 771
Plant, Property, & Equipment, net		 8,489 8,515 8,516 8,866 8,738 9,333 9,421 9,429 9,178 7,690 7,388
Plant, Property & Equipment, gross		 22,841 23,098 23,499 24,914 24,873 26,124 26,650 27,213 25,998 23,494 23,406
Accumulated Depreciation		 14,352 14,583 14,983 16,048 16,135 16,791 17,229 17,784 16,820 15,804 16,018
Total Noncurrent Assets		 10,417 13,382 12,664 14,844 14,053 22,355 22,941 22,240 22,589 26,511 16,596
Goodwill		 7,050 9,249 9,166 10,513 10,051 13,444 13,802 13,486 12,790 6,382 6,281
Intangible Assets		 1,435 2,601 2,320 2,936 2,657 6,379 5,835 5,288 4,699 1,323 1,210
Other Noncurrent Operating Assets		 1,769 1,218 1,178 1,395 1,345 2,532 3,304 3,466 5,100 7,463 9,105
Total Liabilities & Shareholders' Equity		 31,209 32,883 32,906 37,987 36,500 44,659 47,344 47,072 46,455 50,580 39,868
Total Liabilities		 18,067 21,415 22,563 26,365 26,652 34,533 34,413 31,955 31,685 45,712 35,974
Total Current Liabilities		 5,964 7,118 6,219 7,687 7,244 9,222 7,948 9,035 9,523 15,297 11,256
Short-Term Debt		 106 2,044 972 1,853 1,211 2,795 806 1,307 1,938 2,947 1,919
Accounts Payable		 1,807 1,694 1,798 1,945 2,266 2,228 2,561 2,994 3,183 2,776 2,660
Current Deferred & Payable Income Tax Liabilities		 435 332 299 310 243 194 300 260 259 304 331
Current Employee Benefit Liabilities		 732 644 678 870 749 702 747 1,020 692 695 712
Other Current Liabilities		 2,884 2,404 2,472 2,709 2,775 3,303 3,534 3,454 3,451 6,852 5,634
Total Noncurrent Liabilities		 12,103 14,297 16,344 18,678 19,408 25,311 26,465 22,920 22,162 30,415 24,718
Long-Term Debt		 6,705 8,753 10,678 12,096 13,411 17,518 17,989 16,056 14,001 13,088 11,125
Noncurrent Employee Benefit Liabilities		 3,843 3,520 4,018 3,620 2,987 3,911 4,405 2,870 1,966 2,156 1,813
Other Noncurrent Operating Liabilities		 1,555 2,024 1,648 2,962 3,010 3,882 4,071 3,994 6,195 14,485 11,780
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 13,142 11,468 10,343 11,622 9,848 10,126 12,931 15,117 14,770 4,868 3,894
Total Preferred & Common Equity		 13,109 11,429 10,298 11,563 9,796 10,063 12,867 15,046 14,722 4,807 3,842
Total Common Equity		 13,109 11,429 10,298 11,563 9,796 10,063 12,867 15,046 14,722 4,807 3,842
Common Stock		 4,388 4,800 5,070 5,361 5,652 5,916 6,171 6,438 6,700 6,965 7,238
Retained Earnings		 34,317 36,296 37,907 39,115 40,636 42,135 43,821 45,821 47,950 37,479 36,797
Treasury Stock		 -19,307 - - -25,887 -29,626 -29,849 -29,404 -30,463 -33,255 -32,859 -34,462
Accumulated Other Comprehensive Income / (Loss)		 -6,289 -6,359 -7,245 -7,026 -6,866 -8,139 -7,721 -6,750 -6,673 -6,778 -5,731
Noncontrolling Interest		 33 39 45 59 52 63 64 71 48 61 52

Quarterly Balance Sheets for 3M

This table presents 3M's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 46,455 46,886 48,880 49,621 50,580 55,243 43,377 40,875 39,868 39,951 37,989
Total Current Assets		 14,688 14,963 15,754 16,198 16,379 21,613 19,515 16,299 15,884 15,657 13,427
Cash & Equivalents		 3,655 3,824 4,258 5,140 5,735 10,911 10,083 6,050 5,600 6,326 3,712
Short-Term Investments		 238 145 56 73 50 60 255 1,245 2,128 698 502
Accounts Receivable		 4,532 4,638 4,947 4,852 3,601 4,750 3,575 3,528 3,194 3,501 3,760
Inventories, net		 5,372 5,306 5,280 5,065 3,944 4,897 4,060 4,039 3,698 3,869 4,077
Prepaid Expenses		 435 558 674 578 344 655 444 470 436 485 642
Other Current Assets		 456 492 539 490 326 340 1,098 967 828 778 734
Plant, Property, & Equipment, net		 9,178 9,247 9,211 9,004 7,690 9,072 7,472 7,529 7,388 7,356 7,393
Plant, Property & Equipment, gross		 25,998 26,296 26,459 26,189 23,494 26,675 23,278 23,794 23,406 23,643 24,118
Accumulated Depreciation		 16,820 17,049 17,248 17,185 15,804 17,603 15,806 16,265 16,018 16,287 16,725
Total Noncurrent Assets		 22,589 22,676 23,915 24,419 26,511 24,558 16,390 17,047 16,596 16,938 17,169
Goodwill		 12,790 12,855 12,869 12,721 6,382 12,809 6,318 6,395 6,281 6,337 6,433
Intangible Assets		 4,699 4,585 4,470 4,324 1,323 4,105 1,266 1,242 1,210 1,185 1,162
Other Noncurrent Operating Assets		 5,100 5,236 6,576 7,374 7,463 7,644 8,806 9,410 9,105 9,416 9,574
Total Liabilities & Shareholders' Equity		 46,455 46,886 48,880 49,621 50,580 55,243 43,377 40,875 39,868 39,951 37,989
Total Liabilities		 31,685 31,535 41,023 44,890 45,712 50,310 39,389 36,181 35,974 35,428 33,638
Total Current Liabilities		 9,523 10,556 10,936 15,466 15,297 13,156 14,345 11,391 11,256 9,451 7,808
Short-Term Debt		 1,938 3,012 3,033 3,137 2,947 820 1,302 1,870 1,919 1,169 669
Accounts Payable		 3,183 3,130 3,231 3,104 2,776 3,372 2,813 2,689 2,660 2,756 2,840
Current Deferred & Payable Income Tax Liabilities		 259 268 172 220 304 383 407 473 331 359 315
Current Employee Benefit Liabilities		 692 604 785 905 695 607 602 703 712 451 594
Other Current Liabilities		 3,451 3,542 3,715 8,100 6,852 7,974 9,221 5,656 5,634 4,716 3,390
Total Noncurrent Liabilities		 22,162 20,979 30,087 29,424 30,415 37,154 25,044 24,790 24,718 25,977 25,830
Long-Term Debt		 14,001 12,948 12,954 12,876 13,088 20,593 11,781 11,319 11,125 12,307 12,477
Noncurrent Employee Benefit Liabilities		 1,966 1,956 1,912 1,846 2,156 2,320 1,717 1,716 1,813 1,804 1,808
Other Noncurrent Operating Liabilities		 6,195 6,075 15,221 14,702 14,485 14,241 11,546 11,755 11,780 11,866 11,545
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 14,770 15,351 7,857 4,731 4,868 4,933 3,988 4,694 3,894 4,523 4,351
Total Preferred & Common Equity		 14,722 15,298 7,798 4,672 4,807 4,866 3,916 4,642 3,842 4,464 4,290
Total Common Equity		 14,722 15,298 7,798 4,672 4,807 4,866 3,916 4,642 3,842 4,464 4,290
Common Stock		 6,700 6,825 6,867 6,912 6,965 6,982 7,155 7,191 7,238 7,310 7,354
Retained Earnings		 47,950 47,966 40,290 37,375 37,479 37,472 35,475 36,459 36,797 37,432 37,693
Treasury Stock		 -33,255 -32,963 -32,926 -32,889 -32,859 -32,762 -33,147 -33,784 -34,462 -34,747 -35,542
Accumulated Other Comprehensive Income / (Loss)		 -6,673 -6,530 -6,433 -6,726 -6,778 -6,826 -5,567 -5,224 -5,731 -5,531 -5,215
Noncontrolling Interest		 48 53 59 59 61 67 72 52 52 59 61

Annual Metrics And Ratios for 3M

This table displays calculated financial ratios and metrics derived from 3M's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 3.08% -4.86% -0.55% 5.14% 3.50% -1.92% 0.15% 9.85% -26.00% -5.93% -0.14%
EBITDA Growth		 5.76% -3.34% 3.26% 6.63% -6.64% -14.75% 20.32% 6.64% -33.22% -240.35% 171.08%
EBIT Growth		 6.38% -4.37% 3.37% 7.02% -7.26% -19.39% 20.41% 8.45% -40.71% -344.66% 145.11%
NOPAT Growth		 5.83% -2.90% 2.25% -1.54% 11.28% -10.26% 16.08% 5.26% -31.07% -279.28% 153.69%
Net Income Growth		 5.87% -3.14% 4.48% -3.74% 10.15% -15.55% 20.40% 8.73% -2.33% -220.51% 160.01%
EPS Growth		 11.46% 1.20% 7.65% -2.82% 12.11% -13.16% 21.24% 8.12% -2.33% -220.51% 159.78%
Operating Cash Flow Growth		 15.32% -3.11% 3.77% -6.33% 3.19% 9.80% 14.75% -8.12% -24.99% 19.48% -72.77%
Free Cash Flow Firm Growth		 93.62% -84.18% 393.45% -52.33% 102.00% -131.36% 492.69% -28.71% 0.90% 206.13% -108.94%
Invested Capital Growth		 -13.36% 22.56% -4.49% 11.01% -0.96% 31.79% -4.64% 3.85% -3.24% -85.81% 142.05%
Revenue Q/Q Growth		 0.47% -1.37% 0.10% 2.13% -0.14% 0.52% 1.49% 0.08% -24.74% -14.14% -24.73%
EBITDA Q/Q Growth		 0.47% -2.80% -0.21% 1.58% 0.83% -6.28% 7.71% 0.08% -34.05% -0.36% -20.21%
EBIT Q/Q Growth		 0.66% -4.01% -0.07% 2.39% 0.69% -9.28% 9.47% -0.03% -41.92% -1.02% -21.90%
NOPAT Q/Q Growth		 1.30% -2.59% -0.21% -8.39% 17.25% -6.32% 8.34% -2.03% -37.97% -1.02% -22.57%
Net Income Q/Q Growth		 1.28% -2.81% 2.37% -11.47% 18.15% -8.71% 9.85% -1.10% -12.10% 5.47% -4.97%
EPS Q/Q Growth		 2.60% -1.94% 2.77% -11.40% 18.69% -8.20% 9.86% -2.03% -12.10% 5.47% -5.27%
Operating Cash Flow Q/Q Growth		 5.09% 2.56% -2.83% -5.30% 6.59% 1.14% 2.23% -6.40% -1.46% 0.97% -8.46%
Free Cash Flow Firm Q/Q Growth		 73.58% -61.20% 17.96% -57.85% 70.06% -140.07% 814.70% -18.88% -31.62% 365.73% -113.69%
Invested Capital Q/Q Growth		 -15.99% -6.35% -10.59% 5.67% -1.84% 24.71% -1.08% 2.79% 2.07% -75.50% -13.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 48.31% 49.19% 49.79% 49.28% 49.09% 46.68% 48.41% 46.84% 39.40% 39.12% 41.21%
EBITDA Margin		 26.85% 27.28% 28.32% 28.72% 25.91% 22.52% 27.05% 26.26% 23.70% -35.36% 25.17%
Operating Margin		 22.42% 22.94% 23.34% 24.30% 22.00% 19.21% 22.25% 20.84% 16.70% -43.43% 19.62%
EBIT Margin		 22.42% 22.54% 23.42% 23.84% 21.36% 17.56% 21.11% 20.84% 16.70% -43.43% 19.62%
Profit (Net Income) Margin		 15.71% 15.99% 16.80% 15.38% 16.37% 14.09% 16.94% 16.77% 22.14% -28.36% 17.04%
Tax Burden Percent		 71.14% 70.95% 71.71% 64.51% 76.61% 80.26% 80.25% 82.30% 137.75% 61.92% 86.91%
Interest Burden Percent		 98.47% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 97.76% 96.22% 105.44% 99.94%
Effective Tax Rate		 28.86% 29.05% 28.29% 35.49% 23.39% 19.74% 19.68% 17.84% 4.47% 0.00% 16.68%
Return on Invested Capital (ROIC)		 28.56% 26.84% 25.49% 24.35% 25.88% 20.13% 21.04% 22.26% 15.31% -48.87% 61.74%
ROIC Less NNEP Spread (ROIC-NNEP)		 25.08% 25.40% 25.70% 23.36% 24.38% 17.22% 19.15% 21.31% 28.43% -39.71% 69.75%
Return on Net Nonoperating Assets (RNNOA)		 3.59% 12.50% 20.89% 19.99% 24.08% 25.22% 26.26% 20.02% 23.45% -22.21% 33.86%
Return on Equity (ROE)		 32.15% 39.34% 46.38% 44.33% 49.96% 45.35% 47.30% 42.28% 38.75% -71.08% 95.59%
Cash Return on Invested Capital (CROIC)		 42.88% 6.56% 30.08% 13.91% 26.84% -7.30% 25.80% 18.48% 18.60% 101.43% -21.32%
Operating Return on Assets (OROA)		 22.04% 21.29% 21.44% 21.29% 18.80% 13.91% 14.77% 15.61% 9.34% -22.03% 10.66%
Return on Assets (ROA)		 15.44% 15.11% 15.38% 13.74% 14.40% 11.16% 11.85% 12.56% 12.38% -14.38% 9.26%
Return on Common Equity (ROCE)		 31.66% 39.23% 46.20% 44.12% 49.70% 45.09% 47.04% 42.07% 38.60% -70.68% 94.36%
Return on Equity Simple (ROE_SIMPLE)		 38.13% 42.36% 49.12% 42.11% 54.75% 45.01% 42.38% 39.41% 39.34% -145.18% 109.01%
Net Operating Profit after Tax (NOPAT)		 5,076 4,928 5,039 4,962 5,522 4,955 5,752 6,055 4,174 -7,482 4,017
NOPAT Margin		 15.95% 16.28% 16.74% 15.67% 16.85% 15.42% 17.87% 17.13% 15.95% -30.40% 16.35%
Net Nonoperating Expense Percent (NNEP)		 3.48% 1.44% -0.21% 0.99% 1.50% 2.91% 1.89% 0.95% -13.13% -9.17% -8.02%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 13.59% -35.80% 23.72%
Cost of Revenue to Revenue		 51.69% 50.81% 50.21% 50.72% 50.91% 53.32% 51.59% 53.16% 60.60% 60.88% 58.79%
SG&A Expenses to Revenue		 20.33% 20.58% 20.96% 20.93% 23.20% 21.87% 21.53% 20.36% 27.64% 78.01% 17.18%
R&D to Revenue		 5.56% 5.82% 5.86% 5.91% 5.56% 5.95% 5.84% 5.64% 4.43% 4.69% 4.42%
Operating Expenses to Revenue		 25.89% 26.40% 26.45% 24.99% 27.09% 27.46% 26.16% 26.00% 22.70% 82.55% 21.59%
Earnings before Interest and Taxes (EBIT)		 7,135 6,823 7,053 7,548 7,000 5,643 6,795 7,369 4,369 -10,689 4,822
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 8,543 8,258 8,527 9,092 8,488 7,236 8,706 9,284 6,200 -8,702 6,185
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.76 5.98 7.89 9.38 9.00 8.28 6.68 5.98 4.10 12.14 18.30
Price to Tangible Book Value (P/TBV)		 16.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.37 2.26 2.70 3.43 2.69 2.59 2.67 2.54 2.31 2.37 2.86
Price to Earnings (P/E)		 15.25 14.14 16.08 22.34 16.48 18.45 15.76 15.20 10.46 0.00 16.85
Dividend Yield		 2.90% 3.70% 3.29% 2.58% 3.59% 3.98% 3.95% 3.79% 5.45% 5.68% 2.61%
Earnings Yield		 6.56% 7.07% 6.22% 4.48% 6.07% 5.42% 6.34% 6.58% 9.56% 0.00% 5.94%
Enterprise Value to Invested Capital (EV/IC)		 4.79 3.81 4.67 5.52 4.69 3.62 3.74 3.70 2.70 18.05 8.22
Enterprise Value to Revenue (EV/Rev)		 2.48 2.55 3.00 3.74 3.04 3.15 3.10 2.90 2.77 2.79 3.08
Enterprise Value to EBITDA (EV/EBITDA)		 9.24 9.34 10.58 13.02 11.73 13.99 11.45 11.06 11.69 0.00 12.23
Enterprise Value to EBIT (EV/EBIT)		 11.07 11.30 12.80 15.69 14.23 17.94 14.67 13.93 16.60 0.00 15.69
Enterprise Value to NOPAT (EV/NOPAT)		 15.56 15.65 17.91 23.86 18.04 20.43 17.34 16.95 17.37 0.00 18.83
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.92 12.01 13.55 18.97 15.47 14.32 12.29 13.77 12.97 10.28 41.60
Enterprise Value to Free Cash Flow (EV/FCFF)		 10.36 63.98 15.17 41.76 17.39 0.00 14.14 20.42 14.29 4.42 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.52 0.94 1.13 1.20 1.48 2.01 1.45 1.15 1.08 3.29 3.35
Long-Term Debt to Equity		 0.51 0.76 1.03 1.04 1.36 1.73 1.39 1.06 0.95 2.69 2.86
Financial Leverage		 0.14 0.49 0.81 0.86 0.99 1.46 1.37 0.94 0.82 0.56 0.49
Leverage Ratio		 2.08 2.60 3.02 3.23 3.47 4.06 3.99 3.37 3.13 4.94 10.32
Compound Leverage Factor		 2.05 2.60 3.02 3.23 3.47 4.06 3.99 3.29 3.01 5.21 10.32
Debt to Total Capital		 34.14% 48.49% 52.97% 54.55% 59.75% 66.73% 59.24% 53.46% 51.90% 76.71% 77.01%
Short-Term Debt to Total Capital		 0.53% 9.18% 4.42% 7.25% 4.95% 9.18% 2.54% 4.02% 6.31% 14.10% 11.33%
Long-Term Debt to Total Capital		 33.60% 39.31% 48.55% 47.30% 54.81% 57.55% 56.70% 49.43% 45.59% 62.61% 65.68%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.17% 0.18% 0.20% 0.23% 0.21% 0.21% 0.20% 0.22% 0.16% 0.29% 0.31%
Common Equity to Total Capital		 65.70% 51.33% 46.82% 45.22% 40.03% 33.06% 40.56% 46.32% 47.94% 23.00% 22.68%
Debt to EBITDA		 0.80 1.31 1.37 1.53 1.72 2.81 2.16 1.87 2.57 -1.84 2.11
Net Debt to EBITDA		 0.39 1.06 1.05 1.08 1.34 2.47 1.58 1.36 1.94 -1.18 0.86
Long-Term Debt to EBITDA		 0.78 1.06 1.25 1.33 1.58 2.42 2.07 1.73 2.26 -1.50 1.80
Debt to NOPAT		 1.34 2.19 2.31 2.81 2.65 4.10 3.27 2.87 3.82 -2.14 3.25
Net Debt to NOPAT		 0.66 1.78 1.78 1.98 2.06 3.60 2.39 2.08 2.89 -1.37 1.32
Long-Term Debt to NOPAT		 1.32 1.78 2.12 2.44 2.43 3.54 3.13 2.65 3.35 -1.75 2.77
Altman Z-Score		 6.07 5.21 5.60 5.61 5.29 4.01 4.13 4.48 3.60 1.62 3.62
Noncontrolling Interest Sharing Ratio		 1.54% 0.29% 0.39% 0.47% 0.52% 0.58% 0.55% 0.48% 0.40% 0.56% 1.29%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.06 1.54 1.89 1.86 1.89 1.41 1.89 1.70 1.54 1.07 1.41
Quick Ratio		 1.27 0.85 1.14 1.18 1.14 0.79 1.23 1.04 0.88 0.61 0.97
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 7,621 1,205 5,947 2,835 5,727 -1,796 7,052 5,028 5,073 15,529 -1,388
Operating Cash Flow to CapEx		 487.92% 449.58% 489.13% 471.30% 489.66% 448.60% 590.90% 480.28% 360.94% 446.52% 162.41%
Free Cash Flow to Firm to Interest Expense		 53.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 46.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 37.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.98 0.94 0.92 0.89 0.88 0.79 0.70 0.75 0.56 0.51 0.54
Accounts Receivable Turnover		 7.50 7.22 7.05 6.81 6.60 6.55 6.78 7.55 5.69 6.05 7.23
Inventory Turnover		 4.35 4.26 4.38 4.33 3.97 4.03 3.97 4.08 3.06 3.22 3.78
Fixed Asset Turnover		 3.71 3.56 3.54 3.64 3.72 3.56 3.43 3.75 2.81 2.92 3.26
Accounts Payable Turnover		 9.12 8.79 8.66 8.58 7.92 7.63 6.93 6.77 5.13 5.03 5.32
Days Sales Outstanding (DSO)		 48.70 50.59 51.80 53.63 55.32 55.72 53.85 48.34 64.12 60.31 50.46
Days Inventory Outstanding (DIO)		 84.00 85.70 83.33 84.33 91.90 90.53 92.02 89.57 119.23 113.47 96.54
Days Payable Outstanding (DPO)		 40.01 41.54 42.15 42.55 46.07 47.86 52.63 53.94 71.11 72.58 68.67
Cash Conversion Cycle (CCC)		 92.68 94.76 92.98 95.42 101.14 98.38 93.24 83.97 112.24 101.20 78.33
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 16,500 20,223 19,315 21,442 21,237 27,988 26,688 27,715 26,816 3,805 9,210
Invested Capital Turnover		 1.79 1.65 1.52 1.55 1.54 1.31 1.18 1.30 0.96 1.61 3.78
Increase / (Decrease) in Invested Capital		 -2,545 3,723 -908 2,127 -205 6,751 -1,300 1,027 -899 -23,011 5,405
Enterprise Value (EV)		 78,960 77,110 90,245 118,391 99,599 101,252 99,716 102,641 72,506 68,668 75,665
Market Capitalization		 75,569 68,316 81,228 108,512 88,158 83,327 85,895 89,972 60,412 58,357 70,297
Book Value per Share		 $20.46 $18.56 $17.12 $19.41 $16.82 $17.50 $22.31 $26.11 $26.63 $8.70 $7.06
Tangible Book Value per Share		 $7.22 ($0.68) ($1.98) ($3.17) ($5.00) ($16.97) ($11.74) ($6.47) ($5.01) ($5.25) ($6.70)
Total Capital		 19,953 22,265 21,993 25,571 24,470 30,439 31,726 32,480 30,709 20,903 16,938
Total Debt		 6,811 10,797 11,650 13,949 14,622 20,313 18,795 17,363 15,939 16,035 13,044
Total Long-Term Debt		 6,705 8,753 10,678 12,096 13,411 17,518 17,989 16,056 14,001 13,088 11,125
Net Debt		 3,358 8,755 8,972 9,820 11,389 17,862 13,757 12,598 12,046 10,250 5,316
Capital Expenditures (CapEx)		 1,358 1,428 1,362 1,324 1,315 1,576 1,373 1,552 1,549 1,496 1,120
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 3,109 3,996 3,801 4,314 4,443 4,093 2,802 2,910 3,210 -1,756 -1,181
Debt-free Net Working Capital (DFNWC)		 6,445 5,912 6,479 8,443 7,676 6,544 7,840 7,675 7,103 4,029 6,547
Net Working Capital (NWC)		 6,339 3,868 5,507 6,590 6,465 3,749 7,034 6,368 5,165 1,082 4,628
Net Nonoperating Expense (NNE)		 78 87 -19 93 159 426 299 126 -1,617 -503 -171
Net Nonoperating Obligations (NNO)		 3,358 8,755 8,972 9,820 11,389 17,862 13,757 12,598 12,046 -1,063 5,316
Total Depreciation and Amortization (D&A)		 1,408 1,435 1,474 1,544 1,488 1,593 1,911 1,915 1,831 1,987 1,363
Debt-free, Cash-free Net Working Capital to Revenue		 9.77% 13.20% 12.62% 13.63% 13.56% 12.74% 8.71% 8.23% 12.27% -7.14% -4.81%
Debt-free Net Working Capital to Revenue		 20.25% 19.53% 21.52% 26.67% 23.43% 20.36% 24.36% 21.71% 27.15% 16.37% 26.64%
Net Working Capital to Revenue		 19.92% 12.78% 18.29% 20.82% 19.73% 11.67% 21.86% 18.01% 19.74% 4.40% 18.83%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $6.39 $6.46 $6.99 $6.80 $7.61 $6.63 $7.80 $8.56 $8.55 ($10.57) $7.58
Adjusted Weighted Average Basic Shares Outstanding		 775.61M 747.42M 722.45M 713.84M 703.09M 689.35M 690.07M 691.74M 676.21M 661.75M 550.80M
Adjusted Diluted Earnings per Share		 $6.27 $6.34 $6.83 $6.64 $7.44 $6.54 $7.74 $8.47 $8.52 ($10.57) $7.55
Adjusted Weighted Average Diluted Shares Outstanding		 790.90M 761.27M 739.17M 732.00M 719.22M 699.03M 695.56M 699.27M 678.12M 661.75M 552.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 758.35M 722.85M 712.29M 711.45M 687.92M 687.68M 691.86M 682.30M 657.69M 660.32M 542.90M
Normalized Net Operating Profit after Tax (NOPAT)		 5,076 4,895 5,039 4,962 5,522 4,955 5,752 6,055 1,830 -7,508 4,017
Normalized NOPAT Margin		 15.95% 16.17% 16.74% 15.67% 16.85% 15.42% 17.87% 17.13% 7.00% -30.51% 16.35%
Pre Tax Income Margin		 22.08% 22.54% 23.42% 23.84% 21.36% 17.56% 21.11% 20.38% 16.07% -45.80% 19.61%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 50.25 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 35.74 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 40.68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 26.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 44.34% 52.90% 52.95% 57.57% 59.54% 73.22% 62.13% 57.68% 58.18% -47.44% 62.15%
Augmented Payout Ratio		 157.42% 161.10% 127.15% 100.04% 150.35% 104.28% 68.88% 94.77% 83.46% -47.92% 105.16%

Quarterly Metrics And Ratios for 3M

This table displays calculated financial ratios and metrics derived from 3M's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -99.87% -9.04% -27.80% -27.25% 36,500.00% -0.35% -0.45% 0.38% -0.07% -1.03% 1.42%
EBITDA Growth		 -150.78% -17.22% -1,670.10% -155.60% 198.42% 13.12% 119.05% 163.49% -0.57% -2.72% -9.09%
EBIT Growth		 -195.17% -22.58% -8,672.73% -174.49% 134.07% 20.95% 114.95% 142.51% 39.89% 8.44% -10.38%
NOPAT Growth		 -177.93% -23.28% -4,404.89% -155.81% 155.65% 10.68% 116.62% 148.44% 36.45% 14.90% -23.09%
Net Income Growth		 -59.48% -24.71% -8,436.59% -153.61% 74.40% -4.89% 116.84% 166.44% -23.13% 20.26% -37.01%
EPS Growth		 -59.48% -24.71% -8,436.59% -153.61% 74.40% -4.89% 116.76% 166.31% -22.81% 22.16% -35.27%
Operating Cash Flow Growth		 -4.14% 26.11% 33.90% 24.76% 3.33% -39.84% -32.34% -193.56% -8.46% -110.30% -193.44%
Free Cash Flow Firm Growth		 -150.11% 1,869.91% 233.39% 87.47% 13,393.99% 553.97% 1,251.55% -30.10% -119.43% -57.90% -141.14%
Invested Capital Growth		 -3.24% -3.46% -27.95% -40.88% -85.81% -43.77% -65.52% -31.83% 142.05% -28.62% 97.28%
Revenue Q/Q Growth		 -99.87% -0.59% -21.77% -0.21% -35.79% -20.41% -21.84% 0.62% -36.08% 48.00% 6.55%
EBITDA Q/Q Growth		 -123.40% 56.32% -626.13% 71.48% 141.43% -11.42% -11.39% -4.97% -35.12% 45.59% -6.90%
EBIT Q/Q Growth		 -137.01% 96.36% -859.87% 67.17% 116.93% -8.64% -6.06% -6.67% -44.30% 69.99% -8.51%
NOPAT Q/Q Growth		 -127.72% 80.42% -741.07% 66.92% 127.65% -23.50% -3.72% -3.58% -22.13% 23.25% -16.89%
Net Income Q/Q Growth		 -85.94% 80.66% -796.84% 69.70% 145.73% -1.48% 23.37% 19.55% -47.09% 54.12% -35.38%
EPS Q/Q Growth		 -85.94% 80.66% -796.84% 69.70% 145.73% -1.48% 23.95% 19.81% -46.77% 54.55% -34.31%
Operating Cash Flow Q/Q Growth		 25.54% -33.66% 18.35% 26.57% 3.98% -61.38% 33.12% -275.02% 201.73% -104.35% -1,107.59%
Free Cash Flow Firm Q/Q Growth		 -103.88% 36.68% -48.70% 734.51% 175.38% -46.52% 6.02% -56.84% -176.55% 217.88% -205.64%
Invested Capital Q/Q Growth		 2.07% 1.96% -28.57% -20.48% -75.50% 304.07% -56.21% 57.26% -13.01% 19.16% 21.03%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 -10,863.64% 42.56% 40.67% 40.73% 27.32% 45.91% 42.91% 42.06% 27.91% 41.59% 42.53%
EBITDA Margin		 -9,800.00% 21.26% -142.94% -40.85% 26.35% 24.13% 27.35% 25.83% 26.22% 25.80% 22.54%
Operating Margin		 -13,981.82% 15.45% -148.94% -49.38% 13.02% 18.76% 20.34% 20.91% 18.22% 20.93% 17.97%
EBIT Margin		 -13,981.82% 15.45% -150.09% -49.38% 13.02% 18.76% 22.54% 20.91% 18.22% 20.93% 17.97%
Profit (Net Income) Margin		 4,936.36% 12.22% -108.80% -33.03% 23.52% 11.66% 18.40% 21.86% 18.10% 18.84% 11.43%
Tax Burden Percent		 -34.13% 82.51% 72.49% 62.72% 348.16% 75.42% 81.63% 79.95% 161.42% 81.01% 78.55%
Interest Burden Percent		 103.45% 95.81% 100.00% 106.65% 51.91% 82.41% 100.00% 130.78% 61.53% 111.16% 80.96%
Effective Tax Rate		 0.00% 17.66% 0.00% 0.00% -14.34% 24.66% 14.40% 20.22% -11.53% 19.13% 26.54%
Return on Invested Capital (ROIC)		 -9,390.80% 15.28% -138.65% -47.40% 23.92% 21.60% 43.25% 41.70% 76.74% 31.49% 32.45%
ROIC Less NNEP Spread (ROIC-NNEP)		 -9,377.66% 14.96% -140.94% -46.56% 30.26% 19.84% 44.11% 45.61% 72.53% 32.84% 30.52%
Return on Net Nonoperating Assets (RNNOA)		 -7,732.56% 12.47% -162.35% -56.49% 16.92% 21.94% 53.69% 80.79% 35.21% 58.67% 42.74%
Return on Equity (ROE)		 -17,123.36% 27.76% -301.00% -103.89% 40.84% 43.54% 96.94% 122.49% 111.95% 90.16% 75.19%
Cash Return on Invested Capital (CROIC)		 18.60% 23.66% 22.50% 15.95% 101.43% 26.97% 112.35% 77.58% -21.32% 64.72% -26.52%
Operating Return on Assets (OROA)		 -7,821.88% 11.14% -98.49% -29.55% 6.60% 11.99% 15.94% 15.09% 9.90% 10.78% 10.87%
Return on Assets (ROA)		 2,761.56% 8.81% -71.40% -19.77% 11.93% 7.45% 13.01% 15.77% 9.83% 9.71% 6.91%
Return on Common Equity (ROCE)		 -17,055.18% 27.64% -299.16% -103.15% 40.61% 43.29% 95.87% 121.05% 110.50% 88.96% 73.99%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 35.75% -18.58% -158.03% 0.00% -144.41% 24.51% 94.94% 0.00% 98.05% 92.10%
Net Operating Profit after Tax (NOPAT)		 -1,077 1,022 -6,551 -2,167 599 1,131 1,089 1,050 818 1,008 837
NOPAT Margin		 -9,787.27% 12.72% -104.26% -34.56% 14.88% 14.13% 17.41% 16.68% 20.32% 16.92% 13.20%
Net Nonoperating Expense Percent (NNEP)		 -13.14% 0.32% 2.29% -0.84% -6.33% 1.76% -0.86% -3.91% 4.21% -1.35% 1.93%
Return On Investment Capital (ROIC_SIMPLE)		 -3.51% - - - 2.87% - - - 4.83% 5.60% 4.79%
Cost of Revenue to Revenue		 10,963.64% 57.44% 59.33% 59.27% 72.68% 54.09% 57.09% 57.94% 72.09% 58.41% 57.47%
SG&A Expenses to Revenue		 2,990.91% 21.23% 184.86% 86.43% 11.40% 21.69% 18.10% 16.87% 7.23% 15.87% 19.97%
R&D to Revenue		 -2,336.36% 5.88% 4.74% 4.26% 2.91% 5.46% 4.48% 4.27% 2.46% 4.79% 4.54%
Operating Expenses to Revenue		 3,118.18% 27.11% 189.61% 90.11% 14.31% 27.15% 22.57% 21.15% 9.69% 20.66% 24.56%
Earnings before Interest and Taxes (EBIT)		 -1,538 1,241 -9,430 -3,096 524 1,501 1,410 1,316 733 1,246 1,140
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1,078 1,707 -8,981 -2,561 1,061 1,931 1,711 1,626 1,055 1,536 1,430
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.10 3.51 6.67 10.58 12.14 11.89 14.36 16.18 18.30 17.86 19.10
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.31 1.61 1.68 1.72 2.37 1.77 1.72 2.30 2.86 3.25 3.33
Price to Earnings (P/E)		 10.46 9.85 0.00 0.00 0.00 0.00 59.64 17.11 16.85 18.28 20.80
Dividend Yield		 5.45% 6.12% 6.34% 6.69% 5.68% 5.74% 4.40% 2.87% 2.61% 1.93% 1.88%
Earnings Yield		 9.56% 10.15% 0.00% 0.00% 0.00% 0.00% 1.68% 5.85% 5.94% 5.47% 4.81%
Enterprise Value to Invested Capital (EV/IC)		 2.70 2.41 3.27 3.88 18.05 4.45 8.77 7.65 8.22 7.86 6.85
Enterprise Value to Revenue (EV/Rev)		 2.77 1.97 2.06 2.10 2.79 2.09 1.81 2.48 3.08 3.52 3.70
Enterprise Value to EBITDA (EV/EBITDA)		 11.69 8.24 0.00 0.00 0.00 0.00 16.57 10.45 12.23 14.04 15.16
Enterprise Value to EBIT (EV/EBIT)		 16.60 10.71 0.00 0.00 0.00 0.00 33.52 13.13 15.69 17.53 18.99
Enterprise Value to NOPAT (EV/NOPAT)		 17.37 11.73 0.00 0.00 0.00 0.00 30.20 15.62 18.83 20.90 23.34
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.97 11.23 10.23 9.11 10.28 11.08 10.39 40.79 41.60 88.63 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 14.29 9.99 12.15 18.08 4.42 11.87 4.00 8.00 0.00 10.11 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.08 1.04 2.03 3.38 3.29 4.34 3.28 2.81 3.35 2.98 3.02
Long-Term Debt to Equity		 0.95 0.84 1.65 2.72 2.69 4.17 2.95 2.41 2.86 2.72 2.87
Financial Leverage		 0.82 0.83 1.15 1.21 0.56 1.11 1.22 1.77 0.49 1.79 1.40
Leverage Ratio		 3.13 3.06 4.36 5.07 4.94 5.04 7.79 9.60 10.32 10.07 9.76
Compound Leverage Factor		 3.24 2.93 4.36 5.41 2.56 4.15 7.79 12.56 6.35 11.19 7.90
Debt to Total Capital		 51.90% 50.97% 67.05% 77.19% 76.71% 81.28% 76.64% 73.75% 77.01% 74.87% 75.13%
Short-Term Debt to Total Capital		 6.31% 9.62% 12.72% 15.12% 14.10% 3.11% 7.63% 10.46% 11.33% 6.49% 3.82%
Long-Term Debt to Total Capital		 45.59% 41.35% 54.33% 62.07% 62.61% 78.16% 69.01% 63.29% 65.68% 68.38% 71.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.16% 0.17% 0.25% 0.28% 0.29% 0.25% 0.42% 0.29% 0.31% 0.33% 0.35%
Common Equity to Total Capital		 47.94% 48.86% 32.70% 22.52% 23.00% 18.47% 22.94% 25.96% 22.68% 24.80% 24.52%
Debt to EBITDA		 2.57 2.00 -10.63 -1.85 -1.84 -3.10 3.67 1.70 2.11 2.19 2.19
Net Debt to EBITDA		 1.94 1.50 -7.76 -1.25 -1.18 -1.51 0.77 0.76 0.86 1.05 1.49
Long-Term Debt to EBITDA		 2.26 1.62 -8.61 -1.48 -1.50 -2.98 3.30 1.46 1.80 2.00 2.08
Debt to NOPAT		 3.82 2.85 -6.86 -2.16 -2.14 -3.45 6.69 2.54 3.25 3.27 3.37
Net Debt to NOPAT		 2.89 2.14 -5.01 -1.46 -1.37 -1.68 1.40 1.14 1.32 1.56 2.29
Long-Term Debt to NOPAT		 3.35 2.31 -5.56 -1.74 -1.75 -3.32 6.02 2.18 2.77 2.98 3.20
Altman Z-Score		 3.18 3.37 2.03 2.10 2.35 2.50 3.00 3.54 3.28 3.56 3.77
Noncontrolling Interest Sharing Ratio		 0.40% 0.42% 0.61% 0.71% 0.56% 0.59% 1.11% 1.18% 1.29% 1.33% 1.59%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.54 1.42 1.44 1.05 1.07 1.64 1.36 1.43 1.41 1.66 1.72
Quick Ratio		 0.88 0.82 0.85 0.65 0.61 1.20 0.97 0.95 0.97 1.11 1.02
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -178 2,003 1,027 8,574 23,610 13,098 13,886 5,993 -4,587 5,408 -5,713
Operating Cash Flow to CapEx		 518.06% 270.13% 422.69% 608.28% 562.61% 216.67% 430.80% -732.38% 637.89% -36.24% -465.37%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.56 0.72 0.66 0.60 0.51 0.64 0.71 0.72 0.54 0.52 0.60
Accounts Receivable Turnover		 5.69 7.07 6.29 5.99 6.05 6.96 7.66 7.79 7.23 5.94 6.71
Inventory Turnover		 3.06 3.59 3.23 3.12 3.22 3.57 3.86 3.95 3.78 3.29 3.57
Fixed Asset Turnover		 2.81 3.59 3.35 3.15 2.92 3.56 3.91 3.95 3.26 2.98 3.31
Accounts Payable Turnover		 5.13 6.04 5.43 5.40 5.03 5.60 5.97 6.20 5.32 4.71 5.14
Days Sales Outstanding (DSO)		 64.12 51.60 58.03 60.96 60.31 52.47 47.67 46.84 50.46 61.43 54.41
Days Inventory Outstanding (DIO)		 119.23 101.68 112.94 117.12 113.47 102.35 94.51 92.47 96.54 110.79 102.31
Days Payable Outstanding (DPO)		 71.11 60.40 67.24 67.63 72.58 65.22 61.16 58.84 68.67 77.45 71.08
Cash Conversion Cycle (CCC)		 112.24 92.88 103.73 110.45 101.20 89.60 81.02 80.47 78.33 94.77 85.64
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 26,816 27,342 19,530 15,531 3,805 15,375 6,733 10,588 9,210 10,975 13,283
Invested Capital Turnover		 0.96 1.20 1.33 1.37 1.61 1.53 2.48 2.50 3.78 1.86 2.46
Increase / (Decrease) in Invested Capital		 -899 -981 -7,578 -10,741 -23,011 -11,967 -12,797 -4,943 5,405 -4,400 6,550
Enterprise Value (EV)		 72,506 65,763 63,773 60,293 68,668 68,377 59,062 81,043 75,665 86,241 90,926
Market Capitalization		 60,412 53,719 52,041 49,434 58,357 57,868 56,245 75,097 70,297 79,730 81,933
Book Value per Share		 $26.63 $27.79 $14.14 $8.46 $8.70 $8.77 $7.08 $8.45 $7.06 $8.22 $7.97
Tangible Book Value per Share		 ($5.01) ($3.89) ($17.29) ($22.42) ($5.25) ($21.71) ($6.63) ($5.45) ($6.70) ($5.63) ($6.14)
Total Capital		 30,709 31,311 23,844 20,744 20,903 26,346 17,071 17,883 16,938 17,999 17,497
Total Debt		 15,939 15,960 15,987 16,013 16,035 21,413 13,083 13,189 13,044 13,476 13,146
Total Long-Term Debt		 14,001 12,948 12,954 12,876 13,088 20,593 11,781 11,319 11,125 12,307 12,477
Net Debt		 12,046 11,991 11,673 10,800 10,250 10,442 2,745 5,894 5,316 6,452 8,932
Capital Expenditures (CapEx)		 371 472 357 314 353 354 237 244 285 218 205
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 3,210 3,450 3,537 -1,344 -1,756 -1,694 -3,866 -517 -1,181 351 2,074
Debt-free Net Working Capital (DFNWC)		 7,103 7,419 7,851 3,869 4,029 9,277 6,472 6,778 6,547 7,375 6,288
Net Working Capital (NWC)		 5,165 4,407 4,818 732 1,082 8,457 5,170 4,908 4,628 6,206 5,619
Net Nonoperating Expense (NNE)		 -1,620 41 285 -96 -348 198 -62 -326 90 -114 112
Net Nonoperating Obligations (NNO)		 12,046 11,991 11,673 10,800 -1,063 10,442 2,745 5,894 5,316 6,452 8,932
Total Depreciation and Amortization (D&A)		 460 466 449 535 537 430 301 310 322 290 290
Debt-free, Cash-free Net Working Capital to Revenue		 12.27% 10.32% 11.41% -4.69% -7.14% -5.19% -11.85% -1.58% -4.81% 1.43% 8.43%
Debt-free Net Working Capital to Revenue		 27.15% 22.19% 25.32% 13.50% 16.37% 28.41% 19.84% 20.76% 26.64% 30.09% 25.56%
Net Working Capital to Revenue		 19.74% 13.18% 15.54% 2.55% 4.40% 25.90% 15.85% 15.03% 18.83% 25.32% 22.84%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.80 $1.48 ($10.34) ($3.13) $1.43 $1.67 $2.07 $2.49 $1.32 $2.05 $1.35
Adjusted Weighted Average Basic Shares Outstanding		 676.21M 660.32M 661.75M 662.23M 661.75M 555M 553.80M 550.60M 550.80M 543.80M 537.40M
Adjusted Diluted Earnings per Share		 $0.80 $1.47 ($10.34) ($3.13) $1.43 $1.67 $2.07 $2.48 $1.32 $2.04 $1.34
Adjusted Weighted Average Diluted Shares Outstanding		 678.12M 660.92M 661.75M 662.23M 661.75M 555.90M 554.80M 552.70M 552.40M 547.70M 540.60M
Adjusted Basic & Diluted Earnings per Share		 $0.80 $0.00 $0.00 $0.00 $1.43 $0.00 $0.00 $0.00 $1.32 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 657.69M 659.09M 659.47M 659.86M 660.32M 553.36M 549.35M 544.56M 542.90M 538.18M 532.63M
Normalized Net Operating Profit after Tax (NOPAT)		 -1,077 1,022 -6,551 -2,192 367 1,131 1,089 1,050 513 1,008 840
Normalized NOPAT Margin		 -9,787.27% 12.72% -104.26% -34.97% 9.11% 14.13% 17.41% 16.68% 12.75% 16.92% 13.23%
Pre Tax Income Margin		 -14,463.64% 14.81% -150.09% -52.66% 6.76% 15.46% 22.54% 27.34% 11.21% 23.26% 14.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 58.18% 61.14% -229.40% -44.72% -47.44% -47.23% 359.79% 69.16% 62.15% 49.44% 40.27%
Augmented Payout Ratio		 83.46% 74.31% -279.09% -52.40% -47.92% -47.59% 404.06% 94.08% 105.16% 119.21% 131.56%

Key Financial Trends

3M's financial results over the last four years show a company experiencing periods of volatility but with some signs of recovery more recently. Below is a summary of the key trends observed from the quarterly income statements, balance sheets, and cash flow statements, focusing primarily on recent quarters and highlighting meaningful changes.

  • Revenue Growth: Operating revenues generally trended upwards from 2022 into 2025, with Q2 2025 revenue at approximately $6.34 billion, improving from $6.28 billion in Q2 2023 and significantly higher than the unusual very low $11 million recorded in Q4 2022 (likely a data anomaly or restatement issue).
  • Profitability Improvement: Net income has rebounded substantially after a deep loss in Q3 2023 (-$2.07 billion). For example, Q2 2025 net income was $725 million, showing return to profitability. Similarly, diluted EPS increased from negative in 2023 Q3 to $1.34 in Q2 2025.
  • Strong Operating Cash Flow in Normal Periods: The company reported positive net cash from operating activities in several recent quarters (e.g., $1.02 billion in Q2 2024, $767 million in Q1 2024), showing underlying operating efficiency despite more recent cash outflows in Q2 2025 (-$954 million), attributed to working capital changes.
  • Significant Fluctuations in Working Capital: Changes in operating assets and liabilities appear volatile, causing swings in operating cash flows, notably a large negative $2.04 billion impact in Q2 2025.
  • Stable Dividends: 3M has consistently paid dividends, with Q2 2025 dividend per share at $0.73, steady compared to prior periods, suggesting commitment to returning cash to shareholders.
  • Capital Expenditures: Continued investment in property, plant, and equipment with expenditures around $200-300 million per quarter, highlighting ongoing capital commitment to maintain and grow fixed assets.
  • Increasing Debt Load: Long-term debt rose from approximately $13 billion in early 2023 to over $12.5 billion in mid-2025. While not a large move, sustained debt levels could pressure financial flexibility.
  • Share Repurchases: 3M has engaged in substantial common stock repurchases (e.g., $953 million in Q2 2025), which reduce equity but can support stock price if value accretive. This may constrain cash flow though.
  • Cash & Equivalents Drop: The cash balance decreased significantly from about $6.3 billion in Q1 2025 to $3.7 billion in Q2 2025, driven by negative operating cash flow and financing uses, which could indicate short-term liquidity concerns.
  • Volatile Earnings in Historical Context: While 2024 and 2025 show recovery, 2022 and 2023 included notable quarterly net losses and EPS declines, with Q3 2023 EPS at -$3.74 and Q2 2023 net loss over $6 billion, reflecting historic operational challenges or one-time charges.

Summary: 3M has shown a path to recovering operational profitability and revenue growth in 2024 and 2025 after tough losses in 2022 and 2023. The company maintains stable dividend payments but faces challenges with volatile working capital and cash flow variability. High debt levels persist but are steady relative to total assets. Share repurchases indicate shareholder return focus but consume cash amid a declining cash balance in recent quarters. Investors should watch how 3M manages cash flow stability and debt servicing while sustaining revenue growth.

08/29/25 11:54 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About 3M's Financials

When does 3M's financial year end?

According to the most recent income statement we have on file, 3M's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has 3M's net income changed over the last 10 years?

3M's net income appears to be on a downward trend, with a most recent value of $4.19 billion in 2024, falling from $5.00 billion in 2014. The previous period was -$6.98 billion in 2023. Check out 3M's forecast to explore projected trends and price targets.

What is 3M's operating income?
3M's total operating income in 2024 was $4.82 billion, based on the following breakdown:
  • Total Gross Profit: $10.13 billion
  • Total Operating Expenses: $5.31 billion
How has 3M's revenue changed over the last 10 years?

Over the last 10 years, 3M's total revenue changed from $31.82 billion in 2014 to $24.58 billion in 2024, a change of -22.8%.

How much debt does 3M have?

3M's total liabilities were at $35.97 billion at the end of 2024, a 21.3% decrease from 2023, and a 99.1% increase since 2014.

How much cash does 3M have?

In the past 10 years, 3M's cash and equivalents has ranged from $1.80 billion in 2015 to $5.74 billion in 2023, and is currently $5.60 billion as of their latest financial filing in 2024.

How has 3M's book value per share changed over the last 10 years?

Over the last 10 years, 3M's book value per share changed from 20.46 in 2014 to 7.06 in 2024, a change of -65.5%.


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This page (NYSE:MMM) was last updated on 8/29/2025 by MarketBeat.com Staff
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