Stock Analysis on Net
Stock Analysis on Net

3M Co. (NYSE:MMM)

This company has been moved to the archive! The financial data has not been updated since October 25, 2022.

Debt to Equity 
since 2005

Microsoft Excel

Calculation

3M Co., debt to equity, long-term trends, calculation

Microsoft Excel
Debt to equity = Total debt1 ÷ Total 3M Company shareholders’ equity1
Dec 31, 2021 1.15 = 17,363 ÷ 15,046
Dec 31, 2020 1.46 = 18,795 ÷ 12,867
Dec 31, 2019 2.02 = 20,313 ÷ 10,063
Dec 31, 2018 1.49 = 14,622 ÷ 9,796
Dec 31, 2017 1.21 = 13,949 ÷ 11,563
Dec 31, 2016 1.13 = 11,650 ÷ 10,298
Dec 31, 2015 0.92 = 10,797 ÷ 11,708
Dec 31, 2014 0.52 = 6,837 ÷ 13,109
Dec 31, 2013 0.34 = 6,009 ÷ 17,502
Dec 31, 2012 0.34 = 6,001 ÷ 17,575
Dec 31, 2011 0.34 = 5,166 ÷ 15,420
Dec 31, 2010 0.35 = 5,452 ÷ 15,663
Dec 31, 2009 0.45 = 5,710 ÷ 12,764
Dec 31, 2008 0.68 = 6,718 ÷ 9,879
Dec 31, 2007 0.42 = 4,920 ÷ 11,747
Dec 31, 2006 0.36 = 3,553 ÷ 9,959
Dec 31, 2005 0.24 = 2,381 ÷ 10,100

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

Total Debt
The total debt demonstrates a general upward trend from 2005 to 2021. Starting at $2,381 million in 2005, it increased steadily with some fluctuations. Notable surges occurred between 2007 and 2008, and a significant rise from 2013 through 2015, peaking at $20,313 million in 2019 before declining gradually in the subsequent two years to $17,363 million in 2021.
Total Shareholders’ Equity
The shareholders’ equity showed variability over the period. It began at $10,100 million in 2005 with moderate fluctuations thereafter. A peak was observed in 2010 at $15,663 million followed by a noticeable decline until 2014, reaching $11,708 million. After 2014, equity values remained inconsistent, fluctuating but generally increasing to $15,046 million in 2021.
Debt to Equity Ratio
The debt to equity ratio reveals important insights into the company's leverage trends. From a low of 0.24 in 2005, the ratio increased steadily to a peak of 2.02 in 2019, reflecting a rise in debt relative to shareholders' equity. This indicates a period of increasing financial leverage. After 2019, the ratio decreased to 1.15 by 2021, suggesting some deleveraging or equity growth relative to debt levels. The ratio's fluctuations generally correspond to the changes observed in both debt and equity, indicating dynamic balance sheet management over the years.

Comparison to Competitors

3M Co., debt to equity, long-term trends, comparison to competitors

Microsoft Excel
3M Co. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
Dec 31, 2021 1.15 — 2.29 0.52 0.87 1.06 1.07 0.43
Dec 31, 2020 1.46 — 2.42 0.54 2.11 1.28 2.02 0.44
Dec 31, 2019 2.02 — 2.58 0.52 3.21 0.87 4.05 1.04
Dec 31, 2018 1.49 40.85 2.60 0.47 3.55 0.89 9.04 1.18
Dec 31, 2017 1.21 31.32 2.55 0.45 2.09 1.04 — 0.93
Dec 31, 2016 1.13 12.18 2.80 0.56 1.80 0.81 9.45 0.87
Dec 31, 2015 0.92 1.57 2.57 0.56 2.02 0.66 4.62 0.75
Dec 31, 2014 0.52 1.05 2.35 0.57 2.85 0.49 1.81 0.63
Dec 31, 2013 0.34 0.65 1.81 0.57 2.93 0.51 1.25 0.64
Dec 31, 2012 0.34 1.77 2.29 0.72 3.37 0.58 157.90 0.90
Dec 31, 2011 0.34 3.52 2.69 0.51 3.89 0.70 6.45 0.47
Dec 31, 2010 0.35 4.49 2.63 0.47 4.02 0.62 1.35 0.48
Dec 31, 2009 0.45 6.07 3.62 0.51 4.35 0.86 1.22 0.49
Dec 31, 2008 0.68 — 5.84 0.68 5.00 1.17 1.24 0.72
Dec 31, 2007 0.42 0.91 3.20 0.66 4.45 0.83 0.44 0.43
Dec 31, 2006 0.36 2.01 3.98 0.63 3.85 0.52 0.64 0.46
Dec 31, 2005 0.24 0.97 3.05 0.65 3.39 0.45 0.61 0.48

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Capital Goods)

3M Co., debt to equity, long-term trends, comparison to sector (capital goods)

Microsoft Excel
3M Co. Capital Goods
Dec 31, 2021 1.15 1.26
Dec 31, 2020 1.46 1.75
Dec 31, 2019 2.02 2.08
Dec 31, 2018 1.49 2.03
Dec 31, 2017 1.21 1.74
Dec 31, 2016 1.13 1.60
Dec 31, 2015 0.92 1.64
Dec 31, 2014 0.52 2.06
Dec 31, 2013 0.34 2.00
Dec 31, 2012 0.34 2.56
Dec 31, 2011 0.34 3.04
Dec 31, 2010 0.35 3.10
Dec 31, 2009 0.45 3.46
Dec 31, 2008 0.68 4.19
Dec 31, 2007 0.42 3.21
Dec 31, 2006 0.36 3.02
Dec 31, 2005 0.24 2.53

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Industrials)

3M Co., debt to equity, long-term trends, comparison to industry (industrials)

Microsoft Excel
3M Co. Industrials
Dec 31, 2021 1.15 1.37
Dec 31, 2020 1.46 1.82
Dec 31, 2019 2.02 1.82
Dec 31, 2018 1.49 1.85
Dec 31, 2017 1.21 1.65
Dec 31, 2016 1.13 1.54
Dec 31, 2015 0.92 1.51
Dec 31, 2014 0.52 1.89
Dec 31, 2013 0.34 1.79
Dec 31, 2012 0.34 2.29
Dec 31, 2011 0.34 2.60
Dec 31, 2010 0.35 2.68
Dec 31, 2009 0.45 3.01
Dec 31, 2008 0.68 3.54
Dec 31, 2007 0.42 2.73
Dec 31, 2006 0.36 2.49
Dec 31, 2005 0.24 2.42

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).