3M Company

XTRA:MMM Stock Report

Market Cap: €67.1b

3M Valuation

Is MMM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MMM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MMM (€121.88) is trading below our estimate of fair value (€244.15)

Significantly Below Fair Value: MMM is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MMM?

Key metric: As MMM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MMM. This is calculated by dividing MMM's market cap by their current earnings.
What is MMM's PE Ratio?
PE Ratio13.3x
EarningsUS$5.32b
Market CapUS$70.89b

Price to Earnings Ratio vs Peers

How does MMM's PE Ratio compare to its peers?

The above table shows the PE ratio for MMM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.9x
SIE Siemens
16.9x5.9%€143.3b
INH INDUS Holding
8.7x14.9%€534.0m
MBB MBB
19.8x21.6%€544.7m
ENR Siemens Energy
30.2x23.5%€35.7b
MMM 3M
13.3x-2.1%€70.9b

Price-To-Earnings vs Peers: MMM is good value based on its Price-To-Earnings Ratio (13.3x) compared to the peer average (18.9x).

Price to Earnings Ratio vs Industry

How does MMM's PE Ratio compare vs other companies in the European Industrials Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MMM 13.3xIndustry Avg. 16.8xNo. of Companies6PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MMM is good value based on its Price-To-Earnings Ratio (13.3x) compared to the European Industrials industry average (16.8x).

Price to Earnings Ratio vs Fair Ratio

What is MMM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MMM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.3x
Fair PE Ratio17.8x

Price-To-Earnings vs Fair Ratio: MMM is good value based on its Price-To-Earnings Ratio (13.3x) compared to the estimated Fair Price-To-Earnings Ratio (17.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MMM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€121.88
€139.45
+14.4%
16.7%€175.02€84.66n/a18
Nov ’25€117.62
€132.21
+12.4%
16.2%€166.10€82.13n/a18
Oct ’25€123.18
€119.60
-2.9%
15.0%€146.35€80.40n/a18
Sep ’25€119.88
€116.23
-3.0%
13.5%€136.08€80.74n/a17
Aug ’25€115.58
€116.80
+1.1%
15.0%€139.01€82.48n/a17
Jul ’25€93.64
€101.84
+8.8%
11.7%€131.08€81.46n/a17
Jun ’25€91.01
€97.97
+7.6%
11.1%€129.63€80.55n/a16
May ’25€90.51
€95.07
+5.0%
7.6%€104.75€81.37n/a17
Apr ’25€97.47
€97.28
-0.2%
10.2%€117.31€78.20n/a17
Mar ’25€84.52
€100.02
+18.3%
9.1%€117.36€78.55n/a17
Feb ’25€87.49
€101.29
+15.8%
7.9%€114.76€80.52n/a18
Jan ’25€99.25
€102.00
+2.8%
13.3%€143.03€75.61n/a17
Dec ’24€91.12
€99.87
+9.6%
14.4%€143.28€75.75n/a17
Nov ’24€85.45
€103.39
+21.0%
14.4%€148.57€78.54€117.6217
Oct ’24€88.76
€108.85
+22.6%
11.8%€150.76€89.89€123.1818
Sep ’24€98.78
€108.35
+9.7%
11.6%€148.39€88.48€119.8817
Aug ’24€101.52
€104.98
+3.4%
12.4%€146.59€87.41€115.5818
Jul ’24€91.09
€101.08
+11.0%
13.2%€144.76€84.29€93.6418
Jun ’24€87.74
€104.40
+19.0%
12.5%€146.85€88.29€91.0118
May ’24€96.00
€106.42
+10.9%
17.5%€164.04€86.10€90.5118
Apr ’24€96.21
€112.54
+17.0%
20.4%€181.34€92.05€97.4718
Mar ’24€104.14
€114.71
+10.1%
19.2%€181.61€96.80€84.5218
Feb ’24€104.88
€114.71
+9.4%
19.2%€181.61€96.80€87.4918
Jan ’24€111.88
€126.47
+13.0%
19.0%€196.56€102.96€99.2518
Dec ’23€119.80
€128.04
+6.9%
19.2%€199.50€104.50€91.1218
Nov ’23€127.04
€135.21
+6.4%
19.2%€212.56€111.34€85.4519

Analyst Forecast: Target price is less than 20% higher than the current share price.

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