Price to Earnings (P/E)
since 2005
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3M Co. pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
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Calculation
3M Co., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income attributable to 3M1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 9, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 4, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2006 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of 3M Co. Annual Report.
- Share Price
- The share price exhibited notable volatility over the analyzed period. Initially, it showed a moderate increase from $73.20 in February 2006 to $79.95 in February 2008, followed by a sharp decline to $47.42 in February 2009, reflecting a significant downturn likely correlated with broader market conditions. Subsequently, the share price recovered strongly, reaching a peak of $222.89 in February 2018. Afterward, fluctuations were observed, including decreases and relative stabilization, with the price closing at $163.64 in February 2022.
- Earnings Per Share (EPS)
- Earnings per share demonstrated a general upward trend throughout the period. Starting at $4.24 in February 2006, EPS gradually increased with minor fluctuations, reaching $10.37 by February 2022. A temporary decrease occurred in February 2009 to $4.99, consistent with the share price decline in the same period, but earnings recovered steadily thereafter. The consistent increase in EPS indicates operational improvements or effective earnings growth over time.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio displayed considerable variability. It started at 17.28 in February 2006, declined to a low of 9.51 in February 2009, coinciding with the share price drop and EPS dip during the economic downturn. Following this, the ratio generally trended upwards, peaking at 27.32 in February 2018, suggesting increased market valuation relative to earnings. After 2018, the P/E ratio declined gradually to 15.78 by February 2022, potentially indicating a market reassessment of relative valuation or expectations for future earnings growth.
- Overall Trends and Insights
- The data indicates a clear impact of economic cycles, particularly around 2008-2009, with both share price and earnings affected. Post-recession recovery is evident with sustained earnings growth and recovery in share price, culminating in the highest market valuation in 2018. The subsequent decline in the P/E ratio despite rising EPS suggests a potential market correction or moderated investor expectations. The firm's financial performance, as measured by earnings, has improved substantially over the long term, which is also reflected in the overall increased share price despite intermittent volatility.
Comparison to Competitors
3M Co., P/E, long-term trends, comparison to competitors
| 3M Co. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Feb 9, 2022 | ||||||||
| Feb 4, 2021 | ||||||||
| Feb 6, 2020 | ||||||||
| Feb 7, 2019 | ||||||||
| Feb 8, 2018 | ||||||||
| Feb 9, 2017 | ||||||||
| Feb 11, 2016 | ||||||||
| Feb 12, 2015 | ||||||||
| Feb 13, 2014 | ||||||||
| Feb 14, 2013 | ||||||||
| Feb 16, 2012 | ||||||||
| Feb 16, 2011 | ||||||||
| Feb 16, 2010 | ||||||||
| Feb 17, 2009 | ||||||||
| Feb 15, 2008 | ||||||||
| Feb 26, 2007 | ||||||||
| Feb 21, 2006 |
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., P/E, long-term trends, comparison to sector (capital goods)
| 3M Co. | Capital Goods | |
|---|---|---|
| Feb 9, 2022 | ||
| Feb 4, 2021 | ||
| Feb 6, 2020 | ||
| Feb 7, 2019 | ||
| Feb 8, 2018 | ||
| Feb 9, 2017 | ||
| Feb 11, 2016 | ||
| Feb 12, 2015 | ||
| Feb 13, 2014 | ||
| Feb 14, 2013 | ||
| Feb 16, 2012 | ||
| Feb 16, 2011 | ||
| Feb 16, 2010 | ||
| Feb 17, 2009 | ||
| Feb 15, 2008 | ||
| Feb 26, 2007 | ||
| Feb 21, 2006 |
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., P/E, long-term trends, comparison to industry (industrials)
| 3M Co. | Industrials | |
|---|---|---|
| Feb 9, 2022 | ||
| Feb 4, 2021 | ||
| Feb 6, 2020 | ||
| Feb 7, 2019 | ||
| Feb 8, 2018 | ||
| Feb 9, 2017 | ||
| Feb 11, 2016 | ||
| Feb 12, 2015 | ||
| Feb 13, 2014 | ||
| Feb 14, 2013 | ||
| Feb 16, 2012 | ||
| Feb 16, 2011 | ||
| Feb 16, 2010 | ||
| Feb 17, 2009 | ||
| Feb 15, 2008 | ||
| Feb 26, 2007 | ||
| Feb 21, 2006 |
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).