MMM vs. NOC: 3M vs. Northrop Grumman Stock Comparison

November 11, 2026

How do 3M (MMM) and Northrop Grumman (NOC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

3M (MMM) and Northrop Grumman (NOC) both fall under the Capital Goods industry group, but MMM is classified in Industrial Conglomerates while NOC is classified in Aerospace & Defense.

Company profile comparison for 3M (MMM) and Northrop Grumman (NOC)
Profile Item	MMM	NOC
Name	3M Company	Northrop Grumman Corporation
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Industrial Conglomerates	Aerospace & Defense
GICS Sub-Industry	Industrial Conglomerates	Aerospace & Defense
Market Capitalization	95.67 billion USD	74.59 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	December 31, 1981
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

MMM

NOC

GSPC

3M (MMM) vs. Northrop Grumman (NOC), with S&P 500 (GSPC) for reference: 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 Northrop Grumman (NOC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for 3M (MMM) and Northrop Grumman (NOC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
Total Return (1Y)	16.26%	-3.34%
Total Return (3Y, Annualized)	38.64%	7.23%
Total Return (5Y, Annualized)	8.14%	9.98%

Risk Profile

Drawdown History

MMM

NOC

GSPC

3M (MMM) vs. Northrop Grumman (NOC), with S&P 500 (GSPC) for reference: 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 Northrop Grumman (NOC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Northrop Grumman (NOC) reports a negative beta of -0.12, suggesting inverse market sensitivity over the measurement window. That is uncommon for ordinary equities and can reflect commodity-linked or hedge-like exposure, but it can also come from statistical noise. 3M (MMM) has a non-negative beta of 0.97.

Risk profile metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
Volatility (1Y, Annualized)	27.61%	28.86%
Beta (5Y)	0.97	-0.12
Max Drawdown (5Y)	-48.86%	-37.80%
Avg. Volume (3M)	3.14M	902.47K

Risk-Adjusted Performance

Risk-Return Positioning

MMM and NOC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
Sharpe Ratio (1Y)	0.43	-0.26
Sortino Ratio (1Y)	0.70	-0.37

Profitability

ROE (TTM)

Both companies show strong equity returns, but 3M (MMM) at 72.97% is the standout with ROE above its industry range; Northrop Grumman (NOC) at 26.07% also sits in the top quartile.

MMM

Capital Goods industry group

72.97%

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

NOC

Capital Goods industry group

26.07%

Max: 40.55%
NOC: 26.07%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

3M (MMM) at 14.01% retains a top-quartile share of revenue as profit, ahead of Northrop Grumman (NOC) at 10.37%, which keeps about the industry-typical share.

MMM

Capital Goods industry group

14.01%

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

NOC

Capital Goods industry group

10.37%

Max: 27.47%
Q3: 12.10%
NOC: 10.37%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

3M (MMM) at 23.69% operates in the top operating margin quartile, ahead of Northrop Grumman (NOC) at 12.91%, which runs around its industry’s norm.

MMM

Capital Goods industry group

23.69%

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

NOC

Capital Goods industry group

12.91%

Max: 36.60%
Q3: 18.33%
NOC: 12.91%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
ROE (TTM)	72.97%	26.07%
ROA (TTM)	8.22%	7.11%
Net Margin (TTM)	14.01%	10.37%
Operating Margin (TTM)	23.69%	12.91%
Gross Margin (TTM)	39.53%	20.03%

Growth

Revenue Growth

Northrop Grumman (NOC) at 2.24% is around its peer norm for revenue growth, while 3M (MMM) at 1.52% drops into the bottom quartile, signaling weaker demand or pricing momentum.

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both 3M (MMM) at -20.53% and Northrop Grumman (NOC) at 2.61% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
Revenue Growth (YoY)	1.52%	2.24%
Revenue Growth (3Y CAGR)	-1.57%	4.65%
EPS Growth (YoY)	-20.53%	2.61%
EPS Growth (3Y CAGR)	-16.16%	-2.60%

Financial Strength

Current Ratio (MRQ)

Both 3M (MMM) at 1.41 and Northrop Grumman (NOC) at 1.23 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

MMM

Capital Goods industry group

1.41

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

NOC

Capital Goods industry group

1.23

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
NOC: 1.23
Min: 0.36

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Northrop Grumman (NOC) at 0.93 is near its industry mid-range for debt-to-equity ratio, while 3M (MMM) at 3.04 sits above its benchmark range, pointing to a heavier debt load relative to equity.

MMM

Capital Goods industry group

3.04

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

NOC

Capital Goods industry group

0.93

Max: 2.33
Q3: 1.12
NOC: 0.93
Median: 0.60
Q1: 0.29
Min: 0.00

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
Current Ratio (MRQ)	1.41	1.23
Debt / Equity (MRQ)	3.04	0.93
Net Debt / EBITDA	1.26	1.87

Dividends

Dividend Yield (TTM)

Both 3M (MMM) at 1.64% and Northrop Grumman (NOC) at 1.82% offer top-quartile dividend income relative to share price within their industries.

MMM

Capital Goods industry group

1.64%

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

NOC

Capital Goods industry group

1.82%

Max: 2.66%
NOC: 1.82%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Both 3M (MMM) at 45.82% and Northrop Grumman (NOC) at 30.18% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

MMM

Capital Goods industry group

45.82%

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

NOC

Capital Goods industry group

30.18%

Max: 67.39%
NOC: 30.18%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
Dividend Yield (TTM)	1.64%	1.82%
Dividend Payout Ratio (TTM)	45.82%	30.18%

Valuation

P/E Ratio (TTM)

Northrop Grumman (NOC) at 16.57 sits in the cheaper P/E ratio quartile, while 3M (MMM) at 27.63 is closer to its industry’s usual earnings multiple — a discount for NOC, though growth and earnings durability still matter.

MMM

Capital Goods industry group

27.63

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

NOC

Capital Goods industry group

16.57

Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
NOC: 16.57
Min: 3.03

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

Northrop Grumman (NOC) at 1.71 is priced about in line with its industry on P/S ratio, while 3M (MMM) at 3.79 sits in the pricier quartile — MMM costs more per dollar of sales.

MMM

Capital Goods industry group

3.79

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

NOC

Capital Goods industry group

1.71

Max: 7.54
Q3: 3.76
Median: 2.15
NOC: 1.71
Q1: 1.03
Min: 0.03

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Northrop Grumman (NOC) at 3.99 sits near its industry’s typical P/B ratio, while 3M (MMM) at 23.18 prices above its benchmark range — MMM looks rich relative to book.

MMM

Capital Goods industry group

23.18

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

NOC

Capital Goods industry group

3.99

Max: 9.66
Q3: 5.00
NOC: 3.99
Median: 3.12
Q1: 1.81
Min: -1.08

3M (MMM) vs. Northrop Grumman (NOC): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for 3M (MMM) and Northrop Grumman (NOC)
Metric	MMM	NOC
P/E Ratio (TTM)	27.63	16.57
P/S Ratio (TTM)	3.79	1.71
P/B Ratio (MRQ)	23.18	3.99
Free Cash Flow Yield (TTM)	6.66%	4.21%