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3M MMM Return on invested capital

Return on invested capital at other companies

PPG Industries logo
PPG IndustriesPPG
15.6%+2.3pp
Honeywell International logo
Honeywell InternationalHON
13.3%-2.3pp
DuPont de Nemours, Inc. logo
DuPont de Nemours, Inc.DD
1.4%-0.4pp
Amcor logo
AmcorAMCR
7.2%-4.7pp
STERIS logo
STERISSTE
9.4%+2.1pp
Emerson Electric logo
Emerson ElectricEMR
9.4%+2.0pp

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$83.05B-4.2%
Enterprise value$90.8B-2.5%
P/E29.8×+9.9×
P/S3.3×-0.2×

Profitability

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Gross margin39.7%-1.4pp
Operating margin19.1%-1.0pp
Net margin11.1%-6.7pp

Returns & leverage

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

Where this comes from

Calculated from 3M’s reported figures.

Based on trailing twelve months.

The official record: 3M’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is 3M's return on invested capital?
3M (MMM) reported return on invested capital of 32.1% in Q1 2026.
How has 3M's return on invested capital changed year-over-year?
3M's return on invested capital increased by 2.5% year-over-year, from 31.4% to 32.1%.
What is the long-term trend for 3M's return on invested capital?
Over 2 years (2021 to 2025), 3M's return on invested capital has grown at a 28.8% compound annual growth rate (CAGR), from 80.5% to 133.7%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.