Skip to content
OpenCapital
Get started

3M MMM Tax Reconciliation: Research and Other Credits

Other financials

Income statement

See full
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

See full
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

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

Valuation

See full
Market cap$87.61B+13.0%
Enterprise value$95.36B+13.4%
P/E31.4×+13.7×
P/S3.5×+0.3×

Profitability

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

Returns & leverage

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

Questions, answered.

What does tax reconciliation: research and other credits mean?
Quantifies the impact of research and development tax credits on the company's effective tax rate. This metric highlights the extent to which the company leverages government incentives to offset the costs of innovation and product development. It serves as a proxy for the tax-efficiency of the company's R&D investment strategy.