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3M MMM Safety and Industrial — Research, development and related expenses

Other segment segments

Transportation and Electronics
$128M+16.4%
Consumer
$33M+6.5%

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Other financials

Income statement

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Revenue$6.5B+2.5%
Gross profit$2.7B-0.6%
Operating income$984.0M-13.7%
Net income$933.0M+29.0%
EPS (diluted)$1.78+32.8%

Balance sheet

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Cash & equivalents$3.0B-20.4%
Total debt$13.2B+0.8%
Total equity$3.0B-31.2%
Total assets$34.9B-8.1%

Cash flow

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Operating cash flow$986.0M+203%
CapEx$223.0M+7.2%
Free cash flow$763.0M+166%

Valuation

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Market cap$93.9B+16.9%
Enterprise value$104.11B+16.1%
P/E31.3×+10.9×
P/S3.7×+0.5×

Profitability

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Gross margin39.4%-1.6pp
Operating margin18.4%-1.1pp
Net margin11.9%-4.1pp
FCF margin15.8%+11.8pp

Returns & leverage

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Return on equity82.8%-13.2pp
Debt / equity4.5×+1.4×
Current ratio1.2×-0.5×

Where this comes from

Reported directly by 3M in its filing.

Tagged under the XBRL concept mmm:ResearchDevelopmentAndRelatedExpenses.

The source filing: 3M’s 10-Q, filed July 21, 2026.

Filed
Jul 21, 2026, 12:08 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000066740-26-000246
Net sales (millions)Three months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Safety and Industrial
Cost of sales$1,642$1,537$3,213$3,007
Selling, general and administrative expenses459455911906
Research, development and related expenses131127262252
Safety and Industrial operating income8597381,6351,437
Transportation and Electronics
Cost of sales1,1761,1102,2712,176
Selling, general and administrative expenses259245492496

Item 1. Financial Statements

FAQ

What is 3M's safety and industrial — research, development and related expenses?
3M (MMM) reported safety and industrial — research, development and related expenses of $131M in Q2 2026.
How has 3M's safety and industrial — research, development and related expenses changed year-over-year?
3M's safety and industrial — research, development and related expenses increased by 3.1% year-over-year, from $127M to $131M.
What is the long-term trend for 3M's safety and industrial — research, development and related expenses?
Over 3 years (2022 to 2025), 3M's safety and industrial — research, development and related expenses has grown at a 1.7% compound annual growth rate (CAGR), from $492M to $518M.
What does safety and industrial — research, development and related expenses mean?
This represents the investment made by the Safety and Industrial segment into innovation, new product development, and the improvement of existing technologies. Given the company's focus on proprietary technology, this is a key driver of future competitive advantage. It highlights the segment's commitment to long-term growth through R&D.

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