3M MMM Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 39.7%-1.4pp | 39.9%-1.3pp | 40.9%0.0pp | 41%+0.4pp | 41.1%+1.0pp | |
| Operating margin | 19.1%-1.0pp | 18.6%-1.1pp | 19.8%+4.6pp | 19.5%+22.2pp | 20.1%+66.1pp | |
| Net margin | 11.1%-6.7pp | 13%-4.0pp | 13.7%-4.2pp | 16%+12.2pp | 17.8%+46.5pp | |
| EBITDA margin | 24.5%-0.6pp | 23.8%-1.4pp | 24.6%+3.0pp | 24.4%+19.8pp | 25.1%+63.1pp | |
| Free cash flow margin | 8.2%+8.5pp | 5.6%+3.0pp | 6.4%+3.4pp | -8.1%-25.5pp | -0.3%-19.2pp | |
| Returns | ||||||
| Return on equity | 72.1%-21.3pp | 76.1%-20.4pp | 73.4%-20.9pp | 96%+79.9pp | 93.5%+163pp | |
| Return on assets | 7.4%-1.8pp | 8.4%-0.9pp | 8.7%-1.0pp | 9.7%+7.6pp | 9.2%+23.0pp | |
| Return on invested capital | 32.1%+0.8pp | 28.8%-2.3pp | 34.3%+8.5pp | 39.2%+45.0pp | 31.4%+87.0pp | |
| Efficiency | ||||||
| Asset turnover | 0.7×+0.1× | 0.6×+0.1× | 0.6×+0.1× | 0.6×+0.1× | 0.5×0.0× | |
| Inventory turnover | 4×+0.7× | 4.1×+0.3× | 3.7×+0.5× | 3.6×+0.4× | 3.3×+0.4× | |
| Liquidity | ||||||
| Current ratio | 1.6×-0.1× | 1.7×+0.3× | 1.8×+0.4× | 1.7×+0.4× | 1.7×0.0× | |
| Quick ratio | 1.2×-0.1× | 1.3×+0.2× | 1.4×+0.3× | 1.2×+0.1× | 1.2×0.0× | |
| Cash ratio | 0.4×-0.3× | 0.5×0.0× | 0.5×0.0× | 0.5×-0.2× | 0.7×-0.2× | |
| Leverage | ||||||
| Debt-to-equity | 3.5×+0.6× | 2.8×-0.8× | 2.7×+0.1× | 3×-0.1× | 2.9×-1.5× | |
| Debt-to-assets | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×+0.1× | 0.3×-0.1× | |
| Net debt / EBITDA | 1.3×+0.2× | 1.3×0.0× | 1.3×+0.2× | 1.6×-0.5× | 1.1×— | |
| Interest coverage | 5.3×+0.8× | 4.9×+0.8× | 5×+2.2× | 4.7×+5.2× | 4.5×+14.2× | |
| Per Share | ||||||
| Book value per share | $6.12-24.9% | $8.69+24.9% | $8.60+2.4% | $7.94+12.4% | $8.15-6.9% | |
| Valuation | ||||||
| Market capitalization | $75.87B-4.2% | $85.05B+21.0% | $82.65B+9.2% | $80.66B+42.2% | $79.2B+60.9% | |
| Enterprise value | $83.62B-2.5% | $92.95B+18.6% | $90.39B+10.8% | $90B+52.5% | $85.78B+43.8% | |
| Price / earnings | 27.2×+9.1× | 26.2×+9.3× | 24.3×+7.1× | 20.5×-39.7× | 18.2×— | |
| Price / sales | 3×-0.2× | 3.4×+0.5× | 3.3×+0.2× | 3.3×+1.0× | 3.2×+1.2× | |
| Price / book | 23.3×+5.5× | 18.1×-0.2× | 17.9×+1.6× | 18.8×+4.3× | 17.7×+7.6× | |
| EV / EBITDA | 13.7×-0.3× | 15.7×+3.0× | 14.8×-0.6× | 15×-37.3× | 14×— | |
| EV / sales | 3.3×-0.2× | 3.7×+0.5× | 3.6×+0.3× | 3.7×+1.3× | 3.5×+1.1× | |
| Free cash flow yield | 2.7%+2.8pp | 1.6%+0.7pp | 1.9%+0.9pp | -2.5%-10.0pp | -0.1%-9.5pp | |
| Earnings yield | 3.7%-1.8pp | 3.8%-2.1pp | 4.1%-1.7pp | 4.9%+3.2pp | 5.5%+19.8pp | |
| Dividend yield | 2.1%+0.1pp | 1.8%-1.0pp | 1.9%-1.3pp | 1.9%-3.2pp | 1.9%-4.8pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are 3M's profit margins?
- 3M (MMM) runs a 39.7% gross margin and a 19.1% operating margin, with a 11.1% net margin.
- Where do 3M's ratios come from?
- Every ratio is computed from 3M's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
