3M Company

NYSE:MMM Stock Report

Market Cap: US$71.0b

3M Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 ($131.45) is trading below our estimate of fair value ($244.43)

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?

Other financial metrics that can be useful for relative valuation.

MMM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.4x
Enterprise Value/EBITDA9.6x
PEG Ratio-6.3x

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 Average28.4x
HON Honeywell International
26.7x10.0%US$152.1b
BBU Brookfield Business Partners
8.8xn/aUS$5.3b
EMR Emerson Electric
46x18.5%US$73.5b
NOC Northrop Grumman
31.9x12.0%US$77.4b
MMM 3M
13.5x-2.1%US$71.0b

Price-To-Earnings vs Peers: MMM is good value based on its Price-To-Earnings Ratio (13.5x) compared to the peer average (28.4x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a12.5%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a12.5%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: MMM is expensive based on its Price-To-Earnings Ratio (13.5x) compared to the Global Industrials industry average (12.6x).

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 Ratio13.5x
Fair PE Ratio22.6x

Price-To-Earnings vs Fair Ratio: MMM is good value based on its Price-To-Earnings Ratio (13.5x) compared to the estimated Fair Price-To-Earnings Ratio (22.6x).

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
CurrentUS$131.45
US$146.60
+11.5%
16.7%US$184.00US$89.00n/a18
Nov ’25US$127.22
US$143.28
+12.6%
16.2%US$180.00US$89.00n/a18
Oct ’25US$137.06
US$132.39
-3.4%
15.0%US$162.00US$89.00n/a18
Sep ’25US$134.69
US$128.11
-4.9%
13.5%US$150.00US$89.00n/a17
Aug ’25US$126.47
US$126.04
-0.3%
15.0%US$150.00US$89.00n/a17
Jul ’25US$100.61
US$108.76
+8.1%
11.7%US$140.00US$87.00n/a17
Jun ’25US$100.14
US$105.81
+5.7%
11.1%US$140.00US$87.00n/a16
May ’25US$98.44
US$101.65
+3.3%
7.6%US$112.00US$87.00n/a17
Apr ’25US$94.02
US$104.49
+11.1%
10.2%US$126.00US$84.00n/a17
Mar ’25US$91.86
US$108.23
+17.8%
9.1%US$127.00US$85.00n/a17
Feb ’25US$95.91
US$109.44
+14.1%
7.9%US$124.00US$87.00n/a18
Jan ’25US$109.32
US$111.96
+2.4%
13.3%US$157.00US$83.00n/a17
Dec ’24US$99.85
US$109.44
+9.6%
14.4%US$157.00US$83.00n/a17
Nov ’24US$90.56
US$109.26
+20.6%
14.4%US$157.00US$83.00US$127.2217
Oct ’24US$93.62
US$116.24
+24.2%
11.8%US$161.00US$96.00US$137.0618
Sep ’24US$106.95
US$117.55
+9.9%
11.6%US$161.00US$96.00US$134.6917
Aug ’24US$110.56
US$115.30
+4.3%
12.4%US$161.00US$96.00US$126.4718
Jul ’24US$100.09
US$110.33
+10.2%
13.2%US$158.00US$92.00US$100.6118
Jun ’24US$94.28
US$112.33
+19.1%
12.5%US$158.00US$95.00US$100.1418
May ’24US$105.85
US$117.43
+10.9%
17.5%US$181.00US$95.00US$98.4418
Apr ’24US$105.11
US$122.26
+16.3%
20.4%US$197.00US$100.00US$94.0218
Mar ’24US$110.21
US$124.43
+12.9%
19.2%US$197.00US$105.00US$91.8618
Feb ’24US$115.86
US$124.43
+7.4%
19.2%US$197.00US$105.00US$95.9118
Jan ’24US$119.92
US$135.12
+12.7%
19.0%US$210.00US$110.00US$109.3218
Dec ’23US$125.99
US$134.78
+7.0%
19.2%US$210.00US$110.00US$99.8518
Nov ’23US$125.30
US$133.58
+6.6%
19.2%US$210.00US$110.00US$90.5619

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

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