/
As used herein, the term 3M or Company includes 3M Company and its subsidiaries unless the context indicates otherwise. In this document, for any references to Note 1 through Note 20, refer to the Notes to Consolidated Financial Statements in Item 8.
$155.17
+$1.14 (+0.74%)
Price from 9 days ago
18.55% operating margin is respectable but not wide. ROIC at 20.52%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 1.5%, essentially flat. Margins also contracted 1.1pp. This is a business that needs a catalyst.
At 30x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Net debt of $7.20B represents 5.2x FCF, leverage limits flexibility.
29.9x earnings, 40.1x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$25.02B
▲ +1.5% YoY
Net Income (TTM)
$2.79B
▼ -22.1% YoY
Op. Margin
19.10%
▼ -1.1pp YoY
ROIC
21.83%
▼ -1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.06B
▲ +118.8% YoY
Op. Cash Flow (TTM)
$2.96B
▲ +26.8% YoY
Net Debt
$8.98B
Cash & Equiv.
$4.15B
5Y CAGR: -5.0%
5Y CAGR: -26.7%
Continue Research