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3M

NYSE:MMM
Snowflake Description

Established dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MMM
NYSE
$126B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

3M Company develops, manufactures, and markets various products worldwide. The last earnings update was 71 days ago. More info.


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MMM Share Price and Events
7 Day Returns
0.7%
NYSE:MMM
3.1%
US Industrials
0.2%
US Market
1 Year Returns
0.5%
NYSE:MMM
-4.2%
US Industrials
6.3%
US Market
MMM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
3M (MMM) 0.7% 5.1% 11.8% 0.5% 29.8% 60.3%
US Industrials 3.1% 2.5% 13.2% -4.2% -21% -5.4%
US Market 0.2% 2.1% 8.5% 6.3% 37.9% 45.7%
1 Year Return vs Industry and Market
  • MMM outperformed the Industrials industry which returned -4.2% over the past year.
  • MMM underperformed the Market in United States of America which returned 6.3% over the past year.
Price Volatility
MMM
Industry
5yr Volatility vs Market

MMM Value

 Is 3M undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of 3M to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for 3M.

NYSE:MMM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:MMM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Industrials Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.89 (1 + (1- 21%) (11.68%))
0.982
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.982 * 5.96%)
8.58%

Discounted Cash Flow Calculation for NYSE:MMM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for 3M is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:MMM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.58%)
2019 5,980.88 Analyst x8 5,508.23
2020 6,243.00 Analyst x6 5,295.27
2021 6,769.25 Analyst x4 5,287.89
2022 7,526.00 Analyst x1 5,414.43
2023 7,842.00 Analyst x1 5,195.92
2024 8,132.12 Est @ 3.7% 4,962.35
2025 8,409.33 Est @ 3.41% 4,725.98
2026 8,678.86 Est @ 3.21% 4,492.00
2027 8,944.65 Est @ 3.06% 4,263.71
2028 9,209.66 Est @ 2.96% 4,043.11
Present value of next 10 years cash flows $49,188.89
NYSE:MMM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $9,209.66 × (1 + 2.73%) ÷ (8.58% – 2.73%)
$161,707.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $161,707.43 ÷ (1 + 8.58%)10
$70,990.76
NYSE:MMM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $49,188.89 + $70,990.76
$120,179.65
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $120,179.65 / 575.90
$208.68
NYSE:MMM Discount to Share Price
Calculation Result
Value per share (USD) From above. $208.68
Current discount Discount to share price of $218.88
= -1 x ($218.88 - $208.68) / $208.68
-4.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of 3M is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for 3M's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are 3M's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:MMM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $9.09
NYSE:MMM Share Price ** NYSE (2019-04-18) in USD $218.88
United States of America Industrials Industry PE Ratio Median Figure of 5 Publicly-Listed Industrials Companies 24.08x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of 3M.

NYSE:MMM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MMM Share Price ÷ EPS (both in USD)

= 218.88 ÷ 9.09

24.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 3M is good value based on earnings compared to the US Industrials industry average.
  • 3M is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does 3M's expected growth come at a high price?
Raw Data
NYSE:MMM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
6.9%per year
United States of America Industrials Industry PEG Ratio Median Figure of 5 Publicly-Listed Industrials Companies 2.59x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:MMM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.08x ÷ 6.9%

3.51x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 3M is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on 3M's assets?
Raw Data
NYSE:MMM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $16.99
NYSE:MMM Share Price * NYSE (2019-04-18) in USD $218.88
United States of America Industrials Industry PB Ratio Median Figure of 6 Publicly-Listed Industrials Companies 4.61x
United States of America Market PB Ratio Median Figure of 5,178 Publicly-Listed Companies 1.91x
NYSE:MMM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MMM Share Price ÷ Book Value per Share (both in USD)

= 218.88 ÷ 16.99

12.88x

* Primary Listing of 3M.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 3M is overvalued based on assets compared to the US Industrials industry average.
X
Value checks
We assess 3M's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Industrials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Industrials industry average (and greater than 0)? (1 check)
  5. 3M has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MMM Future Performance

 How is 3M expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is 3M expected to grow at an attractive rate?
  • 3M's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • 3M's earnings growth is positive but not above the United States of America market average.
  • 3M's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MMM Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MMM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 6.9%
NYSE:MMM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 2.4%
United States of America Industrials Industry Earnings Growth Rate Market Cap Weighted Average 27.5%
United States of America Industrials Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:MMM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MMM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 37,979 9,836 7,872 1
2022-12-31 36,138 9,459 7,177 2
2021-12-31 34,817 8,512 6,750 7
2020-12-31 34,078 8,110 6,538 14
2019-12-31 33,067 7,748 6,152 15
NYSE:MMM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 32,765 6,439 5,349
2018-09-30 32,810 6,041 4,525
2018-06-30 32,830 5,652 4,411
2018-03-31 32,250 5,395 4,137
2017-12-31 31,657 6,240 4,858
2017-09-30 30,996 6,589 5,490
2017-06-30 30,533 6,747 5,390
2017-03-31 30,385 6,390 5,098
2016-12-31 30,109 6,662 5,050
2016-09-30 30,078 6,791 4,933
2016-06-30 30,081 6,547 4,900
2016-03-31 30,105 6,600 4,909

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • 3M's earnings are expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
  • 3M's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:MMM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from 3M Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MMM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 14.20 14.20 14.20 1.00
2022-12-31 12.84 13.35 12.34 2.00
2021-12-31 11.86 12.55 10.57 5.00
2020-12-31 11.34 11.79 11.00 9.00
2019-12-31 10.53 10.66 10.28 10.00
NYSE:MMM Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 9.09
2018-09-30 7.64
2018-06-30 7.41
2018-03-31 6.93
2017-12-31 8.13
2017-09-30 9.17
2017-06-30 8.98
2017-03-31 8.46
2016-12-31 8.35
2016-09-30 8.11
2016-06-30 8.00
2016-03-31 7.94

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • 3M is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess 3M's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
3M has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MMM Past Performance

  How has 3M performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare 3M's growth in the last year to its industry (Industrials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 3M's year on year earnings growth rate has been positive over the past 5 years.
  • 3M's 1-year earnings growth exceeds its 5-year average (10.1% vs 0.1%)
  • 3M's earnings growth has not exceeded the US Industrials industry average in the past year (10.1% vs 10.1%).
Earnings and Revenue History
3M's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from 3M Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MMM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 32,765.00 5,349.00 7,424.00 1,816.00
2018-09-30 32,810.00 4,525.00 7,564.00 1,800.00
2018-06-30 32,830.00 4,411.00 7,617.00 1,838.00
2018-03-31 32,250.00 4,137.00 7,526.00 1,852.00
2017-12-31 31,657.00 4,858.00 6,493.00 1,862.00
2017-09-30 30,996.00 5,490.00 6,373.00 1,843.00
2017-06-30 30,533.00 5,390.00 6,363.00 1,802.00
2017-03-31 30,385.00 5,098.00 6,343.00 1,761.00
2016-12-31 30,109.00 5,050.00 6,115.00 1,764.00
2016-09-30 30,078.00 4,933.00 6,100.00 1,735.00
2016-06-30 30,081.00 4,900.00 6,099.00 1,737.00
2016-03-31 30,105.00 4,909.00 6,049.00 1,738.00
2015-12-31 30,274.00 4,833.00 6,167.00 1,751.00
2015-09-30 30,695.00 4,974.00 6,238.00 1,766.00
2015-06-30 31,120.00 4,981.00 6,305.00 1,771.00
2015-03-31 31,568.00 4,948.00 6,401.00 1,781.00
2014-12-31 31,821.00 4,956.00 6,469.00 1,770.00
2014-09-30 31,671.00 4,880.00 6,451.00 1,772.00
2014-06-30 31,450.00 4,807.00 6,463.00 1,758.00
2014-03-31 31,068.00 4,737.00 6,427.00 1,737.00
2013-12-31 30,871.00 4,659.00 6,384.00 1,715.00
2013-09-30 30,689.00 4,547.00 6,343.00 1,695.00
2013-06-30 30,270.00 4,478.00 6,221.00 1,672.00
2013-03-31 30,052.00 4,448.00 6,139.00 1,653.00
2012-12-31 29,904.00 4,444.00 6,102.00 1,634.00
2012-09-30 29,606.00 4,407.00 6,089.00 1,595.00
2012-06-30 29,640.00 4,334.00 6,136.00 1,587.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst 3M made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • 3M used its assets more efficiently than the US Industrials industry average last year based on Return on Assets.
  • 3M's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess 3M's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Industrials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
3M has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MMM Health

 How is 3M's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up 3M's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • 3M is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • 3M's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of 3M's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from 3M Company Filings, last reported 3 months ago.

NYSE:MMM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 9,848.00 14,728.00 3,233.00
2018-09-30 10,311.00 14,862.00 3,523.00
2018-06-30 10,428.00 14,536.00 3,186.00
2018-03-31 11,039.00 15,680.00 4,095.00
2017-12-31 11,622.00 14,016.00 4,129.00
2017-09-30 12,202.00 11,666.00 3,417.00
2017-06-30 11,644.00 11,307.00 2,796.00
2017-03-31 11,040.00 11,716.00 2,316.00
2016-12-31 10,343.00 11,695.00 2,678.00
2016-09-30 12,048.00 12,361.00 2,666.00
2016-06-30 11,937.00 11,754.00 1,865.00
2016-03-31 11,774.00 11,140.00 1,513.00
2015-12-31 11,468.00 10,844.00 1,916.00
2015-09-30 12,224.00 11,253.00 1,758.00
2015-06-30 13,130.00 8,517.00 3,485.00
2015-03-31 13,952.00 6,591.00 2,809.00
2014-12-31 13,142.00 6,873.00 3,336.00
2014-09-30 16,206.00 7,355.00 2,696.00
2014-06-30 17,846.00 6,975.00 3,009.00
2014-03-31 17,924.00 6,577.00 2,814.00
2013-12-31 17,948.00 6,074.00 3,337.00
2013-09-30 18,252.00 5,777.00 3,311.00
2013-06-30 18,319.00 5,946.00 4,252.00
2013-03-31 18,528.00 5,936.00 4,376.00
2012-12-31 18,040.00 6,072.00 4,531.00
2012-09-30 18,141.00 6,358.00 5,018.00
2012-06-30 16,873.00 6,307.00 4,903.00
  • 3M's level of debt (149.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (33.9% vs 149.6% today).
  • Debt is well covered by operating cash flow (43.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 24.5x coverage).
X
Financial health checks
We assess 3M's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. 3M has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MMM Dividends

 What is 3M's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.63%
Current annual income from 3M dividends. Estimated to be 2.85% next year.
If you bought $2,000 of 3M shares you are expected to receive $53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • 3M's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • 3M's dividend is below the markets top 25% of dividend payers in United States of America (3.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:MMM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
United States of America Industrials Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:MMM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 7.77 1.00
2022-12-31 7.48 2.00
2021-12-31 6.43 7.00
2020-12-31 6.19 11.00
2019-12-31 5.72 10.00
NYSE:MMM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-05 5.760 2.764
2018-11-13 5.440 2.781
2018-10-23 5.440 2.821
2018-05-08 5.440 2.666
2018-01-25 5.440 2.429
2017-11-14 4.700 1.971
2017-08-15 4.700 2.185
2017-05-09 4.700 2.284
2017-02-07 4.700 2.477
2016-11-08 4.440 2.526
2016-08-09 4.440 2.544
2016-05-10 4.440 2.566
2016-02-02 4.440 2.733
2015-11-10 4.100 2.734
2015-08-10 4.100 2.795
2015-05-12 4.100 2.622
2015-04-30 4.100 2.584
2015-04-23 4.100 2.594
2014-11-11 3.420 2.091
2014-08-11 3.420 2.374
2014-05-13 3.420 2.389
2013-12-17 3.420 2.541
2013-11-11 2.540 1.968
2013-08-13 2.540 2.123
2013-05-14 2.540 2.251
2013-02-05 2.540 2.412
2012-11-12 2.360 2.511
2012-08-14 2.360 2.562
2012-05-08 2.360 2.693
2012-02-07 2.360 2.685
2011-11-14 2.200 2.671
2011-08-08 2.200 2.809
2011-05-10 2.200 2.384
2011-02-08 2.200 2.375
2010-11-08 2.100 2.425
2010-08-09 2.100 2.457
2010-05-11 2.100 2.576
2010-02-09 2.100 2.531
2009-11-10 2.040 2.532
2009-08-10 2.040 2.765
2009-05-12 2.040 3.317
2009-04-20 2.040 3.582

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of 3M's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess 3M's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can 3M afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 3M has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MMM Management

 What is the CEO of 3M's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Roman
COMPENSATION $12,864,739
AGE 58
TENURE AS CEO 0.8 years
CEO Bio

Mr. Michael F. Roman, also known as Mike, has been Chief Executive Officer of 3M Company since July 1, 2018 and has been its Director since 2018. Mr. Roman served as Chief Operating Officer and Executive Vice President at 3M Company since July 1, 2017 until June 30, 2018. Mr. Roman served as an Executive Vice President of Industrial Business Group at 3M Company since May 14, 2014. Mr. Roman served as President of 3M Korea, Ltd. He served as Senior Vice President of Business Development at 3M Company from 2013 to May 14, 2014 and served as its Vice President and General Manager of Renewable Energy Division from February 2009 to 2011. He served as an Executive Officer of Korea at 3M Company. Mr. Roman is a 25-year 3M veteran whose accomplishments includes holding various roles including Managing Director of 3M Korea since 2005, Vice President and General Manager of Industrial Adhesives and Tapes Division since 2011, Vice President of Business Development- Optical Systems Division, Asia since 2008, Six Sigma Director of Safety, Security and Protection Services Business Center since 2003, European Business Director of Safety and Security Systems Division, Optical Systems Division since 2000, Project Manager of Intelligent Transportation Systems, Safety and Security Systems Division since 2000, Laboratory Manager of Intelligent Transportation Systems, Safety and Security Systems Division since 1998, Technical Manager of Traffic Control Systems, Safety and Security Systems Division since 1994, Technical Supervisor of Hardgoods and Electronics Services Division since 1991, Technical Supervisor of Software and Electronics Resource Center since 1990, Senior Design Engineer of Software and Electronics Resource Center since 1988 and Group Head of Hughes Aircraft Company since 1983. Mr. Roman holds B.S. in Electrical Engineering from University of Minnesota in 1982 and M.S. in Electrical Engineering from University of Southern California in 1987.

CEO Compensation
  • Mike's compensation has increased by more than 20% in the past year.
  • Mike's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the 3M management team in years:

3.4
Average Tenure
56
Average Age
  • The tenure for the 3M management team is about average.
Management Team

Inge Thulin

TITLE
Executive Chairman of the Board
COMPENSATION
$14M
AGE
64

Mike Roman

TITLE
CEO & Director
COMPENSATION
$13M
AGE
58
TENURE
0.8 yrs

Nick Gangestad

TITLE
Senior VP & CFO
COMPENSATION
$8M
AGE
53
TENURE
4.8 yrs

Julie Bushman

TITLE
Executive Vice President of International Operations
COMPENSATION
$5M
AGE
56
TENURE
7.8 yrs

Teri Reinseth

TITLE
VP of Corporate Controller & Chief Accounting Officer
AGE
45

John Banovetz

TITLE
Senior VP of Research & Development & CTO
AGE
50
TENURE
1.8 yrs

Bruce Jermeland

TITLE
Director of Investor Relations

Ivan Fong

TITLE
Senior VP of Legal Affairs & General Counsel
COMPENSATION
$3M
AGE
57
TENURE
6.5 yrs

Veena Lakkundi

TITLE
VP, Chief Ethics & Compliance Officer
TENURE
2 yrs

Stephen Shafer

TITLE
Senior Vice President of Business Development & Marketing-Sales
Board of Directors Tenure

Average tenure and age of the 3M board of directors in years:

5.8
Average Tenure
65.5
Average Age
  • The tenure for the 3M board of directors is about average.
Board of Directors

Mike Roman

TITLE
CEO & Director
COMPENSATION
$13M
AGE
58
TENURE
0.9 yrs

Mike Eskew

TITLE
Independent Lead Director
COMPENSATION
$360K
AGE
68
TENURE
6.4 yrs

Inge Thulin

TITLE
Executive Chairman of the Board
COMPENSATION
$14M
AGE
64
TENURE
6.8 yrs

Herb Henkel

TITLE
Independent Director
COMPENSATION
$306K
AGE
69
TENURE
12.3 yrs

Muhtar Kent

TITLE
Independent Director
COMPENSATION
$326K
AGE
65
TENURE
6 yrs

Dave Dillon

TITLE
Independent Director
COMPENSATION
$331K
AGE
66
TENURE
3.7 yrs

Ed Liddy

TITLE
Independent Director
COMPENSATION
$325K
AGE
72
TENURE
19.3 yrs

Tony Brown

TITLE
Independent Director
COMPENSATION
$305K
AGE
62
TENURE
5.7 yrs

Sondra Barbour

TITLE
Independent Director
COMPENSATION
$305K
AGE
55
TENURE
4.7 yrs

Greg Page

TITLE
Independent Director
COMPENSATION
$305K
AGE
67
TENURE
3.2 yrs
Who owns this company?
Recent Insider Trading
  • 3M insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Apr 19 Sell Inge Thulin Individual 29. Mar 19 29. Mar 19 -22,632 $209.06 $-4,715,180
19. Feb 19 Sell Joaquin Delgado Individual 15. Feb 19 15. Feb 19 -4,897 $207.33 $-1,015,157
11. Feb 19 Sell Nicholas Gangestad Individual 07. Feb 19 07. Feb 19 -3,000 $201.47 $-604,303
11. Feb 19 Sell Ippocratis Vrohidis Individual 07. Feb 19 07. Feb 19 -606 $199.35 $-120,807
29. Oct 18 Buy Gregory Page Individual 26. Oct 18 26. Oct 18 1,000 $185.00 $184,500
X
Management checks
We assess 3M's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 3M has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MMM News

Simply Wall St News

Calculating The Intrinsic Value Of 3M Company (NYSE:MMM)

How far off is 3M Company (NYSE:MMM) from its intrinsic value? … by estimating the company's future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Have Insiders Been Selling 3M Company (NYSE:MMM) Shares?

So we'll take a look at whether insiders have been buying or selling shares in 3M Company (NYSE:MMM). … It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. … Frank Little was the only individual insider to sell over the last year.

Simply Wall St -

Have You Considered This Before Investing In 3M Company (NYSE:MMM)?

I will take you through 3M’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … 3M’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … There are two methods I will use to evaluate the quality of 3M’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability

Simply Wall St -

Could 3M Company's (NYSE:MMM) Investor Composition Influence The Stock Price?

The big shareholder groups in 3M Company (NYSE:MMM) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … institutions own shares in the company.

Simply Wall St -

Why 3M Company (NYSE:MMM) Could Be Worth Watching

received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to $216.33 at one point, and dropping to the lows of $184.54. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … A question to answer is whether 3M's current trading price of $196.1 reflective of the actual value of the?

Simply Wall St -

Are 3M Company's (NYSE:MMM) Interest Costs Too High?

the key to extending previous success is in the health of the company’s financials. … This article will examine 3M’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Note that this information is centred entirely on financial health and is a high-level overview, so I encourage you to look further

Simply Wall St -

What Does 3M Company's (NYSE:MMM) P/E Ratio Tell You?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll show how you can use 3M Company's (NYSE:MMM) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Be Concerned With 3M Company's (NYSE:MMM) -18% Earnings Drop?

After reading 3M Company's (NYSE:MMM) latest earnings update (30 September 2018), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … As a long-term investor I tend to pay attention to earnings trend, rather than a single number at one point in time. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of -0.03%, indicating the rate at which MMM is growing has slowed down

Simply Wall St -

How Does 3M Company (NYSE:MMM) Fare As A Dividend Stock?

Over the past 10 years 3M Company (NYSE:MMM) has been paying dividends to shareholders. … The company is currently worth US$112.3b, and now yields roughly 2.8%. … 5 checks you should do on a dividend stock

Simply Wall St -

Boasting A 44% Return On Equity, Is 3M Company (NYSE:MMM) A Top Quality Stock?

Our data shows 3M has a return on equity of 44% for the last year. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.44 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

MMM Company Info

Description

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. The Safety & Industrial segment offers personal safety products, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules. The Transportation & Electronics provides electronics, such as display materials and systems, electronic materials solutions; automotive, aerospace, and commercial solutions; advanced materials; and transportation safety products. This segment serves transportation and electronic original equipment manufacturer customers. The Health Care segment offers medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems, and food safety products. The Consumer segment provides home improvement, home care, and consumer health care products, as well as stationery and office supplies. This segment is also involved in the retail auto care business. The company serves automotive, electronics and automotive electrification, appliance, paper and printing, packaging, food and beverage, construction, medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, health information systems, food manufacturing and testing, consumer and office retail, office business to business, home improvement, drug and pharmacy retail, and other markets. 3M Company was founded in 1902 and is headquartered in St. Paul, Minnesota.

Details
Name: 3M Company
MMM
Exchange: NYSE
Founded: 1902
$126,052,255,687
575,896,636
Website: http://www.3m.com
Address: 3M Company
3M Center,
St. Paul,
Minnesota, 55144,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MMM Common Stock New York Stock Exchange US USD 02. Jan 1968
DB MMM Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
XTRA MMM Common Stock XETRA Trading Platform DE EUR 02. Jan 1968
LSE 0QNY Common Stock London Stock Exchange GB CHF 02. Jan 1968
SWX MMM Common Stock SIX Swiss Exchange CH CHF 02. Jan 1968
WBAG MMM Common Stock Wiener Boerse AG AT EUR 02. Jan 1968
SNSE MMM Common Stock Santiago Stock Exchange CL USD 02. Jan 1968
BMV MMM * Common Stock Bolsa Mexicana de Valores MX MXN 02. Jan 1968
BOVESPA MMMC34 BDR EACH REPR 0.25 COM USD0.01 Bolsa de Valores de Sao Paulo BR BRL 24. Aug 2012
BASE MMM CEDEAR EACH REPR 1/5 COM USD0.01 Buenos Aires Stock Exchange AR ARS 12. Nov 2003
Number of employees
Current staff
Staff numbers
93,516
3M employees.
Industry
Industrial Conglomerates
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 23:43
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.