3M (MMM)
Market Price (11/6/2025): $163.54 | Market Cap: $87.3 BilSector: Industrials | Industry: Industrial Conglomerates
3M (MMM)
Market Price (11/6/2025): $163.54Market Cap: $87.3 BilSector: IndustrialsIndustry: Industrial Conglomerates
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 2.5 Bil | Trading close to highsDist 52W High is -4.2%, Dist 3Y High is -4.2% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 35x |
| Low stock price volatilityVol 12M is 30% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 2.5 Bil |
| Low stock price volatilityVol 12M is 30% |
| Trading close to highsDist 52W High is -4.2%, Dist 3Y High is -4.2% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 35x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -10% |
Market Valuation & Key Metrics
MMM Stock
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MMM Return | 3% | 5% | -30% | -3% | 46% | 29% | 38% |
| Peers Return | 14% | 10% | -5% | 22% | 33% | 24% | 140% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 110% |
Monthly Win Rates [3] | |||||||
| MMM Win Rate | 42% | 58% | 42% | 42% | 67% | 60% | |
| Peers Win Rate | 55% | 55% | 45% | 48% | 63% | 62% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| MMM Max Drawdown | -33% | -5% | -38% | -25% | -15% | -2% | |
| Peers Max Drawdown | -47% | -4% | -26% | -11% | -8% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: GE, HON, EMR, GLW, DD. See MMM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/5/2025 (YTD)
How Low Can It Go
| Event | MMM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -58.5% | -25.4% |
| % Gain to Breakeven | 140.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -35.0% | -33.9% |
| % Gain to Breakeven | 53.9% | 51.3% |
| Time to Breakeven | 310 days | 148 days |
| 2018 Correction | ||
| % Loss | -41.7% | -19.8% |
| % Gain to Breakeven | 71.6% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -56.4% | -56.8% |
| % Gain to Breakeven | 129.1% | 131.3% |
| Time to Breakeven | 781 days | 1480 days |
Compare to GE, HON, EMR, GLW, DD
In The Past
3M's stock fell -58.5% during the 2022 Inflation Shock from a high on 6/4/2021. A -58.5% loss requires a 140.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
| Title | Topic | Date | |
|---|---|---|---|
| DASHBOARDS | |||
| Now Is Not The Time To Buy 3M Stock | Buy or Fear | ||
| Day 5 of Gains Streak for 3M Stock with 13% Return (vs. 35% YTD) [10/23/2025] | Notification | ||
| 3M vs Honeywell International: Which Stock Could Rally? | Counter-Intuitive Comparisons | ||
| MMM Delivers $51 Bil to Investors Over a Decade | |||
| How Low Can 3M Stock Really Go? | Return | ||
| 3M vs Union Pacific: Which Is A Better Investment? | Counter-Intuitive Comparisons | ||
| 3M vs Carlisle Companies: Which Is A Better Investment? | Counter-Intuitive Comparisons | ||
| Day 8 of Gains Streak for 3M Stock with 11% Return (vs. 25% YTD) [8/13/2025] | Notification | ||
| null | |||
| Day 7 of Gains Streak for 3M Stock with 9.3% Return (vs. 23% YTD) [8/12/2025] | Notification | ||
| ARTICLES | |||
| 3M Stock To $120? | October 24th, 2025 | ||
| 3M Stock Surges 13%, With A 5-Day Winning Spree | October 24th, 2025 | ||
| S&P 500 Stocks Trading At 52-Week High | October 23rd, 2025 | ||
| How Will 3M Stock React To Its Upcoming Earnings? | October 17th, 2025 | ||
| MMM Delivers $51 Bil to Shareholders Over the Last 10 Years | September 5th, 2025 |
Trade Ideas
Select past ideas related to MMM. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | GEO | GEO | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -0.9% | -0.9% | -3.5% |
| 10312025 | RUN | Sunrun | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -0.8% | -0.8% | -8.2% |
| 10312025 | PLPC | Preformed Line Products | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -0.1% | -0.1% | -0.6% |
| 10172025 | VRSK | Verisk Analytics | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -7.9% | -7.9% | -10.5% |
| 10102025 | CARR | Carrier Global | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.7% | 0.7% | -0.8% |
| 10312023 | MMM | 3M | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 30.9% | 75.2% | -0.4% |
| 06302022 | MMM | 3M | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.8% | -18.7% | -24.2% |
| 01312020 | MMM | 3M | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -3.4% | 14.8% | -25.0% |
| 05312019 | MMM | 3M | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.2% | 1.6% | -24.2% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | GEO | GEO | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -0.9% | -0.9% | -3.5% |
| 10312025 | RUN | Sunrun | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -0.8% | -0.8% | -8.2% |
| 10312025 | PLPC | Preformed Line Products | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -0.1% | -0.1% | -0.6% |
| 10172025 | VRSK | Verisk Analytics | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -7.9% | -7.9% | -10.5% |
| 10102025 | CARR | Carrier Global | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.7% | 0.7% | -0.8% |
| 10312023 | MMM | 3M | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 30.9% | 75.2% | -0.4% |
| 06302022 | MMM | 3M | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -4.8% | -18.7% | -24.2% |
| 01312020 | MMM | 3M | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -3.4% | 14.8% | -25.0% |
| 05312019 | MMM | 3M | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.2% | 1.6% | -24.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for 3M
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 148.38 |
| Mkt Cap | 81.2 |
| Rev LTM | 21,302 |
| Op Inc LTM | 4,210 |
| FCF LTM | 2,164 |
| FCF 3Y Avg | 2,218 |
| CFO LTM | 2,856 |
| CFO 3Y Avg | 3,070 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.1% |
| Rev Chg 3Y Avg | 3.5% |
| Rev Chg Q | 5.5% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Mgn LTM | 18.8% |
| Op Mgn 3Y Avg | 16.3% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 16.8% |
| CFO/Rev 3Y Avg | 15.8% |
| FCF/Rev LTM | 11.7% |
| FCF/Rev 3Y Avg | 10.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 81.2 |
| P/S | 3.9 |
| P/EBIT | 21.4 |
| P/E | 26.9 |
| P/CFO | 28.2 |
| Total Yield | 3.6% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 3.4% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.2% |
| 3M Rtn | 4.4% |
| 6M Rtn | 20.6% |
| 12M Rtn | 23.5% |
| 3Y Rtn | 68.0% |
| 1M Excs Rtn | -0.3% |
| 3M Excs Rtn | -2.7% |
| 6M Excs Rtn | -0.1% |
| 12M Excs Rtn | 9.3% |
| 3Y Excs Rtn | -5.9% |
Segment Financials
Revenue by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Safety and Industrial | 10,956 | 11,604 | 11,981 | 11,734 | 11,514 |
| Transportation and Electronics | 8,501 | 8,902 | 9,262 | 8,833 | 9,591 |
| Consumer | 5,026 | 5,292 | 5,513 | 5,311 | 5,151 |
| Corporate and Other | 90 | 4 | 2 | -2 | 110 |
| Other | 37 | ||||
| Health Care | 8,427 | 8,597 | 8,345 | 7,431 | |
| Elimination of Dual Credit | -2,037 | -1,661 | |||
| Total | 24,610 | 34,229 | 35,355 | 32,184 | 32,136 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Safety and Industrial | 2,324 | 1,135 | 2,466 | 2,784 | 2,510 |
| Transportation and Electronics | 1,312 | 973 | 1,880 | 1,814 | 2,221 |
| Consumer | 904 | 978 | 1,162 | 1,203 | 1,124 |
| Other | 55 | ||||
| Corporate and Other | -15,284 | 1,654 | -176 | 91 | -1,130 |
| Health Care | 1,799 | 2,037 | 1,790 | 1,858 | |
| Elimination of Dual Credit | -521 | -409 | |||
| Total | -10,689 | 6,539 | 7,369 | 7,161 | 6,174 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Corporate and Unallocated and Other | 16,195 | ||||
| Non-current assets of discontinued operations | 11,343 | ||||
| Safety and Industrial | 11,212 | 11,774 | 11,744 | 11,711 | 11,682 |
| Transportation and Electronics | 6,826 | 6,485 | 6,999 | 6,997 | 6,871 |
| Consumer | 2,625 | 2,774 | 2,783 | 2,567 | 2,428 |
| Current assets of discontinued operations | 2,379 | ||||
| Corporate and Other | 12,058 | 11,491 | 11,538 | 8,888 | |
| Health Care | 13,364 | 14,055 | 14,531 | 14,790 | |
| Total | 50,580 | 46,455 | 47,072 | 47,344 | 44,659 |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2025 | 7.7% | 8.8% | |
| 7/18/2025 | -3.7% | -6.1% | -4.2% |
| 4/22/2025 | 8.1% | 9.4% | 22.3% |
| 1/21/2025 | 4.2% | 7.4% | 7.0% |
| 10/22/2024 | -2.3% | -3.4% | -4.4% |
| 7/26/2024 | 23.0% | 22.3% | 26.3% |
| 4/30/2024 | 4.7% | 4.8% | 6.6% |
| 1/23/2024 | -11.0% | -10.8% | -13.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 12 |
| # Negative | 12 | 13 | 12 |
| Median Positive | 4.8% | 6.9% | 6.9% |
| Median Negative | -3.0% | -3.4% | -4.2% |
| Max Positive | 23.0% | 22.3% | 26.3% |
| Max Negative | -11.0% | -10.8% | -15.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10212025 | 10-Q 9/30/2025 |
| 6302025 | 7182025 | 10-Q 6/30/2025 |
| 3312025 | 4222025 | 10-Q 3/31/2025 |
| 12312024 | 2052025 | 10-K 12/31/2024 |
| 9302024 | 10222024 | 10-Q 9/30/2024 |
| 6302024 | 7262024 | 10-Q 6/30/2024 |
| 3312024 | 4302024 | 10-Q 3/31/2024 |
| 12312023 | 2072024 | 10-K 12/31/2023 |
| 9302023 | 10242023 | 10-Q 9/30/2023 |
| 6302023 | 7252023 | 10-Q 6/30/2023 |
| 3312023 | 4252023 | 10-Q 3/31/2023 |
| 12312022 | 2082023 | 10-K 12/31/2022 |
| 9302022 | 10252022 | 10-Q 9/30/2022 |
| 6302022 | 7272022 | 10-Q 6/30/2022 |
| 3312022 | 4262022 | 10-Q 3/31/2022 |
| 12312021 | 2092022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |