3M Company (MMM) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Conglomerates
EV/EBITDA
↑
15.46
↑+21% vs avg
5yr avg: 12.79
30Y Low5.8·High17.3
P/FCF
↑
54.75
↑+28% vs avg
5yr avg: 42.65
30Y Low10.0·High111.8
P/B Ratio
↑
16.64
↑+47% vs avg
5yr avg: 11.30
30Y Low3.0·High18.3
ROE
↑
75.2%
↓+109% vs avg
5yr avg: 36.0%
30Y Low-71%·High95%
Debt/EBITDA
↑
2.38
↓-5% vs avg
5yr avg: 2.49
30Y Low0.4·High3.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MMM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
3M Company trades at 24.4x earnings, 43% above its 5-year average of 17.1x, sitting at the 90th percentile of its historical range. Compared to the Industrials sector median P/E of 25.9x, the stock trades at a discount of 6%. On a free-cash-flow basis, the stock trades at 54.7x P/FCF, 28% above the 5-year average of 42.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $76.4B | $86.3B | $71.3B | $50.6B | $56.9B | $86.9B | $85.1B | $86.3B | $95.9B | $120.6B | $92.4B |
| Enterprise Value | $84.1B | $94.0B | $79.4B | $61.6B | $70.1B | $100.7B | $100.2B | $105.2B | $107.7B | $131.5B | $101.7B |
| P/E Ratio → | 24.42 | 26.68 | 17.10 | — | 9.85 | 14.67 | 15.61 | 18.89 | 17.92 | 24.82 | 18.30 |
| P/S Ratio | 3.06 | 3.46 | 2.90 | 2.06 | 1.66 | 2.46 | 2.64 | 2.69 | 2.93 | 3.81 | 3.07 |
| P/B Ratio | 16.64 | 18.18 | 18.31 | 10.40 | 3.85 | 5.75 | 6.58 | 8.52 | 9.74 | 10.37 | 8.93 |
| P/FCF | 54.75 | 61.82 | 111.77 | 10.00 | 14.81 | 14.86 | 12.87 | 16.07 | 19.73 | 24.77 | 17.62 |
| P/OCF | 33.14 | 37.42 | 39.20 | 7.58 | 10.18 | 11.66 | 10.49 | 12.21 | 14.89 | 19.32 | 13.87 |
P/E links to full P/E history page with 30-year chart
MMM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
3M Company's enterprise value stands at 15.5x EBITDA, 21% above its 5-year average of 12.8x. The Industrials sector median is 13.9x, placing the stock at a 11% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.77 | 3.23 | 2.50 | 2.05 | 2.85 | 3.11 | 3.27 | 3.29 | 4.15 | 3.38 |
| EV / EBITDA | 15.46 | 17.28 | 12.89 | 11.25 | 11.87 | 10.66 | 11.30 | 12.28 | 11.63 | 15.00 | 11.97 |
| EV / EBIT | 18.44 | 18.90 | 13.23 | — | 10.18 | 13.14 | 13.64 | 17.13 | 14.88 | 17.23 | 14.00 |
| EV / FCF | — | 67.33 | 124.40 | 12.17 | 18.25 | 17.21 | 15.15 | 19.59 | 22.16 | 27.02 | 19.40 |
MMM Profitability
Margins and return-on-capital ratios measuring operating efficiency
3M Company earns an operating margin of 18.3%, above the Industrials sector average of 4.9%. Operating margins have expanded from 16.4% to 18.3% over the past 3 years, signaling improving operational efficiency. Return on equity of 75.2% is exceptionally high — well above the sector median of 8.2%. ROIC of 28.1% represents excellent returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.6% | 39.6% | 41.0% | 38.9% | 43.7% | 47.0% | 48.5% | 47.6% | 49.4% | 49.5% | 49.7% |
| Operating Margin | 18.3% | 18.3% | 20.1% | 16.4% | 11.9% | 21.3% | 21.6% | 21.7% | 23.7% | 22.8% | 23.3% |
| Net Profit Margin | 13.0% | 13.0% | 17.0% | -28.4% | 16.9% | 16.7% | 16.9% | 14.2% | 16.3% | 15.3% | 16.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 75.2% | 75.2% | 95.3% | -71.2% | 38.7% | 42.2% | 47.3% | 45.8% | 49.8% | 44.2% | 46.3% |
| ROA | 8.4% | 8.4% | 9.2% | -14.4% | 12.4% | 12.5% | 11.8% | 11.3% | 14.4% | 13.7% | 15.4% |
| ROIC | 28.1% | 28.1% | 26.6% | 13.8% | 10.7% | 19.8% | 18.3% | 20.6% | 26.3% | 25.7% | 26.2% |
| ROCE | 16.1% | 16.1% | 15.4% | 11.2% | 10.9% | 19.4% | 18.6% | 21.6% | 26.1% | 25.4% | 26.8% |
MMM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
3M Company carries a Debt/EBITDA ratio of 2.4x, which is manageable (25% below the sector average of 3.2x). Net debt stands at $7.7B ($12.9B total debt minus $5.2B cash). Interest coverage of 6.9x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.73 | 2.73 | 3.51 | 3.44 | 1.14 | 1.21 | 1.53 | 2.10 | 1.49 | 1.21 | 1.13 |
| Debt / EBITDA | 2.38 | 2.38 | 2.22 | 3.06 | 2.85 | 1.94 | 2.23 | 2.48 | 1.59 | 1.60 | 1.38 |
| Net Debt / Equity | — | 1.62 | 2.07 | 2.26 | 0.89 | 0.91 | 1.17 | 1.87 | 1.20 | 0.94 | 0.90 |
| Net Debt / EBITDA | 1.42 | 1.42 | 1.31 | 2.01 | 2.24 | 1.46 | 1.70 | 2.21 | 1.28 | 1.25 | 1.09 |
| Debt / FCF | — | 5.52 | 12.63 | 2.17 | 3.44 | 2.35 | 2.29 | 3.52 | 2.44 | 2.25 | 1.77 |
| Interest Coverage | 6.91 | 6.91 | 5.08 | -11.09 | 13.84 | 16.76 | 13.29 | 14.25 | 30.17 | 90.86 | 35.07 |
MMM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.71x means 3M Company can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.33x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.07x to 1.71x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.71 | 1.71 | 1.41 | 1.07 | 1.54 | 1.70 | 1.89 | 1.41 | 1.89 | 1.86 | 1.89 |
| Quick Ratio | 1.33 | 1.33 | 1.08 | 0.81 | 0.98 | 1.15 | 1.35 | 0.96 | 1.29 | 1.33 | 1.34 |
| Cash Ratio | 0.62 | 0.62 | 0.69 | 0.38 | 0.41 | 0.53 | 0.63 | 0.27 | 0.45 | 0.54 | 0.43 |
| Asset Turnover | — | 0.66 | 0.62 | 0.49 | 0.74 | 0.75 | 0.68 | 0.72 | 0.90 | 0.83 | 0.92 |
| Inventory Turnover | 4.12 | 4.12 | 3.92 | 3.81 | 3.59 | 3.76 | 3.91 | 4.07 | 3.80 | 3.97 | 4.47 |
| Days Sales Outstanding | — | 51.69 | 48.60 | 55.02 | 49.43 | 49.24 | 54.78 | 56.37 | 57.07 | 57.44 | 54.56 |
MMM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
3M Company returns 7.8% to shareholders annually — split between a 1.5% dividend yield and 6.3% buyback yield. The payout ratio of 36.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.5% | 1.4% | 2.8% | 6.5% | 5.9% | 3.9% | 4.0% | 3.8% | 3.3% | 2.3% | 2.9% |
| Payout Ratio | 36.2% | 36.2% | 47.5% | — | 58.3% | 57.8% | 62.2% | 72.6% | 59.7% | 57.7% | 53.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.1% | 3.7% | 5.8% | — | 10.2% | 6.8% | 6.4% | 5.3% | 5.6% | 4.0% | 5.5% |
| FCF Yield | 1.8% | 1.6% | 0.9% | 10.0% | 6.8% | 6.7% | 7.8% | 6.2% | 5.1% | 4.0% | 5.7% |
| Buyback Yield | 6.3% | 5.6% | 2.5% | 0.1% | 2.6% | 2.5% | 0.4% | 1.6% | 5.1% | 1.7% | 4.1% |
| Total Shareholder Yield | 7.8% | 6.9% | 5.3% | 6.6% | 8.5% | 6.5% | 4.4% | 5.5% | 8.4% | 4.0% | 7.0% |
| Shares Outstanding | — | $539M | $552M | $554M | $568M | $585M | $582M | $585M | $602M | $613M | $619M |
Peer Comparison
Compare MMM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MMMYou | $76B | 24.4 | 15.5 | 54.7 | 39.6% | 18.3% | 75.2% | 28.1% | 2.4 |
 HON | $137B | 29.5 | 20.0 | 25.5 | 36.9% | 17.5% | 27.3% | 12.6% | 4.3 |
 EMR | $83B | 36.6 | 18.9 | 31.2 | 52.8% | 19.6% | 9.6% | 8.2% | 2.7 |
 ITW | $75B | 24.8 | 18.1 | 27.7 | 44.1% | 26.3% | 93.7% | 29.0% | 1.9 |
 ETN | $163B | 40.3 | 29.1 | 36.6 | 37.6% | 19.1% | 21.5% | 13.6% | 1.9 |
 PH | $114B | 33.3 | 24.8 | 34.1 | 36.9% | 20.5% | 27.4% | 13.4% | 1.9 |
 ROK | $52B | 59.9 | 31.4 | 38.0 | 48.1% | 17.1% | 23.5% | 15.1% | 2.1 |
 AVY | $13B | 19.0 | 12.1 | 18.0 | 28.8% | 12.5% | 30.2% | 15.2% | 2.8 |
 PPG | $25B | 16.1 | 11.2 | 21.5 | 38.0% | 13.7% | 92.2% | 23.5% | 2.8 |
 SHW | $80B | 31.5 | 21.4 | 30.1 | 48.9% | 16.1% | 59.4% | 16.5% | 3.3 |
 ROP | $36B | 24.7 | 14.5 | 14.5 | 69.2% | 28.3% | 7.9% | 6.1% | 3.0 |
| Industrials Median | — | 25.9 | 13.9 | 20.6 | 32.8% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full MMM Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
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Start ComparisonMMM — Frequently Asked Questions
Quick answers to the most common questions about buying MMM stock.
What is 3M Company's P/E ratio?
3M Company's current P/E ratio is 24.4x. The historical average is 17.4x. This places it at the 90th percentile of its historical range.
What is 3M Company's EV/EBITDA?
3M Company's current EV/EBITDA is 15.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.4x.
What is 3M Company's ROE?
3M Company's return on equity (ROE) is 75.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 33.4%.
Is MMM stock overvalued?
Based on historical data, 3M Company is trading at a P/E of 24.4x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is 3M Company's dividend yield?
3M Company's current dividend yield is 1.49% with a payout ratio of 36.2%.
What are 3M Company's profit margins?
3M Company has 39.6% gross margin and 18.3% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does 3M Company have?
3M Company's Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.