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3M MMM Operating Lease Cost

Other financials

Income statement

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Revenue$6.0B+1.3%
Gross profit$2.5B-0.8%
Operating income$1.4B+12.1%
Net income$653.0M-41.5%
EPS (diluted)$1.23-39.7%

Balance sheet

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Cash & equivalents$3.7B-41.1%
Total debt$11.5B-11.0%
Total equity$3.3B-26.9%
Total assets$35.4B-11.3%

Cash flow

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Operating cash flow$574.0M+827%
CapEx$225.0M-4.7%
Free cash flow$349.0M+211%

Valuation

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Market cap$83.76B-4.2%
Enterprise value$91.51B-2.5%
P/E30.1×+10.0×
P/S3.4×-0.2×

Profitability

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Gross margin39.7%-1.4pp
Operating margin19.1%-1.0pp
Net margin11.1%-6.7pp
FCF margin8.2%+8.0pp

Returns & leverage

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Return on equity72.1%-21.3pp
Debt / equity3.5×+0.6×
Current ratio1.6×-0.1×

Questions, answered.

What does operating lease cost mean?
The portion of lease expenses specifically classified as operating lease costs under accounting standards. This reflects the straight-line expense recognized for the right to use assets over the lease term.