3M (MMM) Stock Analysis

November 11, 2026

This is a peer-relative look at 3M (MMM): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Capital Goods peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for 3M (MMM)
Profile Item	MMM
Name	3M Company
Country/Region	United States
GICS Sector	Industrials
GICS Industry Group	Capital Goods
GICS Industry	Industrial Conglomerates
GICS Sub-Industry	Industrial Conglomerates
Market Capitalization	95.67 billion USD
Currency	USD
Exchange	NYSE
Listing Date	January 2, 1962
Security Type	Common Stock

Price Performance

Cumulative Growth

MMM

GSPC

3M (MMM) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for 3M (MMM) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for 3M (MMM) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
Total Return (1Y)	16.26%	6.84%
Total Return (3Y, Annualized)	38.64%	17.66%
Total Return (5Y, Annualized)	8.14%	9.09%

Risk Profile

Drawdown History

MMM

GSPC

3M (MMM) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for 3M (MMM) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
Volatility (1Y, Annualized)	27.61%	44.38%
Beta (5Y)	0.97	1.19
Max Drawdown (5Y)	-48.86%	-49.95%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. MMM is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
Sharpe Ratio (1Y)	0.43	0.06
Sortino Ratio (1Y)	0.70	0.09

Profitability

ROE (TTM)

3M (MMM) posts ROE of 72.97%, above the industry benchmark range. Equity is being turned into profit at an exceptional rate, but very high ROE should still be checked against leverage, buybacks, and the size of the equity base.

MMM

Capital Goods industry group

72.97%

Group distribution

MMM: 72.97%
Max: 40.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Largest peers

GEV: 93.04%
MMM: 72.97%
CAT: 56.14%
GE: 50.17%
DE: 18.24%
RTX: 12.85%
BA: --

Where 3M (MMM) stands on ROE within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

3M (MMM) keeps 14.01% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

MMM

Capital Goods industry group

14.01%

Group distribution

Max: 27.47%
MMM: 14.01%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Largest peers

GEV: 23.54%
GE: 17.31%
CAT: 15.21%
MMM: 14.01%
DE: 10.17%
RTX: 8.75%
BA: 8.07%

Where 3M (MMM) stands on net margin within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

3M (MMM) turns 23.69% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

MMM

Capital Goods industry group

23.69%

Group distribution

Max: 36.60%
MMM: 23.69%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Largest peers

MMM: 23.69%
CAT: 20.19%
GE: 18.49%
RTX: 15.54%
DE: 13.37%
GEV: 12.77%
BA: 0.30%

Where 3M (MMM) stands on operating margin within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
ROE (TTM)	72.97%	12.12%
ROA (TTM)	8.22%	5.29%
Net Margin (TTM)	14.01%	6.30%
Operating Margin (TTM)	23.69%	11.12%
Gross Margin (TTM)	39.53%	29.63%

Growth

Revenue Growth

3M (MMM) grew revenue 1.52%, in the lower peer quartile. The top line is expanding more slowly than at most peers, which can reflect softer demand, lost share, or weaker pricing.

3M (MMM): Revenue Growth across different time periods, set against Capital Goods industry-group medians.

EPS Growth

3M (MMM) grew earnings per share -20.53%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

3M (MMM): EPS Growth across different time periods, set against Capital Goods industry-group medians.

Growth Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
Revenue Growth (YoY)	1.52%	8.11%
Revenue Growth (3Y CAGR)	-1.57%	6.45%
EPS Growth (YoY)	-20.53%	5.45%
EPS Growth (3Y CAGR)	-16.16%	7.15%

Financial Strength

Current Ratio (MRQ)

3M (MMM) has current ratio of 1.41, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

MMM

Capital Goods industry group

1.41

Group distribution

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
MMM: 1.41
Min: 0.36

Largest peers

DE: 2.13
CAT: 1.42
MMM: 1.41
BA: 1.13
RTX: 1.05
GE: 0.98
GEV: 0.83

Where 3M (MMM) stands on current ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

3M (MMM) has debt-to-equity ratio of 3.04, above the industry benchmark range. Debt sits unusually high against shareholders’ equity, leaving the balance sheet more exposed to rate, refinancing, or earnings shocks.

MMM

Capital Goods industry group

3.04

Group distribution

MMM: 3.04
Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

Largest peers

BA: 7.39
MMM: 3.04
DE: 2.30
CAT: 2.10
GE: 1.16
RTX: 0.55
GEV: 0.30

Where 3M (MMM) stands on debt-to-equity ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
Current Ratio (MRQ)	1.41	2.08
Debt / Equity (MRQ)	3.04	0.60
Net Debt / EBITDA	1.26	1.78

Dividends

Dividend Yield (TTM)

3M (MMM) has dividend yield of 1.64%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

MMM

Capital Goods industry group

1.64%

Group distribution

Max: 2.66%
MMM: 1.64%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Largest peers

MMM: 1.64%
RTX: 1.47%
CAT: 1.13%
DE: 0.98%
GE: 0.56%
GEV: 0.26%
BA: 0.00%

Where 3M (MMM) stands on dividend yield within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

3M (MMM) has payout ratio of 45.82%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

MMM

Capital Goods industry group

45.82%

Group distribution

Max: 67.39%
MMM: 45.82%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Largest peers

RTX: 45.85%
MMM: 45.82%
DE: 36.02%
CAT: 24.18%
GE: 20.23%
GEV: 4.59%
BA: 0.00%

Where 3M (MMM) stands on payout ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
Dividend Yield (TTM)	1.64%	0.24%
Dividend Payout Ratio (TTM)	45.82%	6.86%

Valuation

P/E Ratio (TTM)

3M (MMM) trades at P/E ratio of 27.63, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

MMM

Capital Goods industry group

27.63

Group distribution

Max: 59.38
Q3: 35.92
MMM: 27.63
Median: 25.41
Q1: 19.47
Min: 3.03

Largest peers

DE: 37.33
GE: 36.94
RTX: 30.82
MMM: 27.63
CAT: 21.92
GEV: 20.32
BA: 17.89

Where 3M (MMM) stands on P/E ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

3M (MMM) trades at 3.79 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.

MMM

Capital Goods industry group

3.79

Group distribution

Max: 7.54
MMM: 3.79
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Largest peers

GE: 6.38
GEV: 4.65
MMM: 3.79
DE: 3.78
CAT: 3.29
RTX: 2.66
BA: 1.45

Where 3M (MMM) stands on P/S ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

3M (MMM) trades at 23.18 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

MMM

Capital Goods industry group

23.18

Group distribution

MMM: 23.18
Max: 9.66
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Largest peers

MMM: 23.18
BA: 20.99
GE: 19.06
GEV: 18.00
CAT: 11.90
DE: 6.47
RTX: 3.69

Where 3M (MMM) stands on P/B ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

3M (MMM) metric values compared with Capital Goods industry-group medians
Metric	Current stock: MMM	Industry group median
P/E Ratio (TTM)	27.63	25.41
P/S Ratio (TTM)	3.79	2.15
P/B Ratio (MRQ)	23.18	3.12
Free Cash Flow Yield (TTM)	6.66%	3.03%