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.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

3M Co., adjusted financial ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Activity Ratio
Total Asset Turnover
Reported 0.75 0.68 0.72 0.90 0.83
Adjusted 0.76 0.69 0.72 0.88 0.82
Liquidity Ratio
Current Ratio
Reported 1.70 1.89 1.41 1.89 1.86
Adjusted 1.83 2.04 1.49 2.08 2.00
Solvency Ratios
Debt to Equity
Reported 1.16 1.47 2.03 1.50 1.21
Adjusted 1.16 1.49 1.99 1.48 1.24
Debt to Capital
Reported 0.54 0.60 0.67 0.60 0.55
Adjusted 0.54 0.60 0.67 0.60 0.55
Financial Leverage
Reported 3.13 3.68 4.44 3.73 3.29
Adjusted 2.95 3.51 4.14 3.50 3.18
Profitability Ratios
Net Profit Margin
Reported 16.75% 16.73% 14.22% 16.33% 15.35%
Adjusted 18.79% 18.17% 12.35% 16.83% 17.16%
Return on Equity (ROE)
Reported 39.35% 41.84% 45.41% 54.60% 42.01%
Adjusted 42.02% 44.05% 36.83% 51.95% 44.75%
Return on Assets (ROA)
Reported 12.58% 11.37% 10.23% 14.65% 12.79%
Adjusted 14.25% 12.55% 8.91% 14.86% 14.05%

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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. 3M Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. 3M Co. adjusted current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. 3M Co. adjusted debt-to-equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. 3M Co. adjusted debt-to-capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 3M Co. adjusted financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. 3M Co. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. 3M Co. adjusted ROE improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. 3M Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

3M Co., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net sales 35,355 32,184 32,136 32,765 31,657
Total assets 47,072 47,344 44,659 36,500 37,987
Activity Ratio
Total asset turnover1 0.75 0.68 0.72 0.90 0.83
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net sales2 35,386 32,252 31,949 32,869 31,641
Adjusted total assets3 46,680 46,706 44,299 37,230 38,648
Activity Ratio
Adjusted total asset turnover4 0.76 0.69 0.72 0.88 0.82

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).

1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= 35,355 ÷ 47,072 = 0.75

2 Adjusted net sales. See details »

3 Adjusted total assets. See details »

4 2021 Calculation
Adjusted total asset turnover = Adjusted net sales ÷ Adjusted total assets
= 35,386 ÷ 46,680 = 0.76

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. 3M Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Current assets 15,403 14,982 12,971 13,709 14,277
Current liabilities 9,035 7,948 9,222 7,244 7,687
Liquidity Ratio
Current ratio1 1.70 1.89 1.41 1.89 1.86
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 15,592 15,215 13,132 13,804 14,380
Adjusted current liabilities3 8,506 7,450 8,792 6,627 7,174
Liquidity Ratio
Adjusted current ratio4 1.83 2.04 1.49 2.08 2.00

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).

1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 15,403 ÷ 9,035 = 1.70

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2021 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 15,592 ÷ 8,506 = 1.83

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. 3M Co. adjusted current ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt 17,463 18,910 20,445 14,714 14,022
Total 3M Company shareholders’ equity 15,046 12,867 10,063 9,796 11,563
Solvency Ratio
Debt to equity1 1.16 1.47 2.03 1.50 1.21
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 18,317 19,775 21,299 15,714 15,091
Adjusted total equity3 15,827 13,303 10,711 10,646 12,137
Solvency Ratio
Adjusted debt to equity4 1.16 1.49 1.99 1.48 1.24

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).

1 2021 Calculation
Debt to equity = Total debt ÷ Total 3M Company shareholders’ equity
= 17,463 ÷ 15,046 = 1.16

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 18,317 ÷ 15,827 = 1.16

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. 3M Co. adjusted debt-to-equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt 17,463 18,910 20,445 14,714 14,022
Total capital 32,509 31,777 30,508 24,510 25,585
Solvency Ratio
Debt to capital1 0.54 0.60 0.67 0.60 0.55
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 18,317 19,775 21,299 15,714 15,091
Adjusted total capital3 34,144 33,078 32,010 26,360 27,228
Solvency Ratio
Adjusted debt to capital4 0.54 0.60 0.67 0.60 0.55

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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 17,463 ÷ 32,509 = 0.54

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 18,317 ÷ 34,144 = 0.54

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. 3M Co. adjusted debt-to-capital ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total assets 47,072 47,344 44,659 36,500 37,987
Total 3M Company shareholders’ equity 15,046 12,867 10,063 9,796 11,563
Solvency Ratio
Financial leverage1 3.13 3.68 4.44 3.73 3.29
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 46,680 46,706 44,299 37,230 38,648
Adjusted total equity3 15,827 13,303 10,711 10,646 12,137
Solvency Ratio
Adjusted financial leverage4 2.95 3.51 4.14 3.50 3.18

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).

1 2021 Calculation
Financial leverage = Total assets ÷ Total 3M Company shareholders’ equity
= 47,072 ÷ 15,046 = 3.13

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 46,680 ÷ 15,827 = 2.95

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 3M Co. adjusted financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income attributable to 3M 5,921 5,384 4,570 5,349 4,858
Net sales 35,355 32,184 32,136 32,765 31,657
Profitability Ratio
Net profit margin1 16.75% 16.73% 14.22% 16.33% 15.35%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interest2 6,650 5,860 3,945 5,531 5,431
Adjusted net sales3 35,386 32,252 31,949 32,869 31,641
Profitability Ratio
Adjusted net profit margin4 18.79% 18.17% 12.35% 16.83% 17.16%

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).

1 2021 Calculation
Net profit margin = 100 × Net income attributable to 3M ÷ Net sales
= 100 × 5,921 ÷ 35,355 = 16.75%

2 Adjusted net income including noncontrolling interest. See details »

3 Adjusted net sales. See details »

4 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net income including noncontrolling interest ÷ Adjusted net sales
= 100 × 6,650 ÷ 35,386 = 18.79%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. 3M Co. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income attributable to 3M 5,921 5,384 4,570 5,349 4,858
Total 3M Company shareholders’ equity 15,046 12,867 10,063 9,796 11,563
Profitability Ratio
ROE1 39.35% 41.84% 45.41% 54.60% 42.01%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interest2 6,650 5,860 3,945 5,531 5,431
Adjusted total equity3 15,827 13,303 10,711 10,646 12,137
Profitability Ratio
Adjusted ROE4 42.02% 44.05% 36.83% 51.95% 44.75%

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).

1 2021 Calculation
ROE = 100 × Net income attributable to 3M ÷ Total 3M Company shareholders’ equity
= 100 × 5,921 ÷ 15,046 = 39.35%

2 Adjusted net income including noncontrolling interest. See details »

3 Adjusted total equity. See details »

4 2021 Calculation
Adjusted ROE = 100 × Adjusted net income including noncontrolling interest ÷ Adjusted total equity
= 100 × 6,650 ÷ 15,827 = 42.02%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. 3M Co. adjusted ROE improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income attributable to 3M 5,921 5,384 4,570 5,349 4,858
Total assets 47,072 47,344 44,659 36,500 37,987
Profitability Ratio
ROA1 12.58% 11.37% 10.23% 14.65% 12.79%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interest2 6,650 5,860 3,945 5,531 5,431
Adjusted total assets3 46,680 46,706 44,299 37,230 38,648
Profitability Ratio
Adjusted ROA4 14.25% 12.55% 8.91% 14.86% 14.05%

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).

1 2021 Calculation
ROA = 100 × Net income attributable to 3M ÷ Total assets
= 100 × 5,921 ÷ 47,072 = 12.58%

2 Adjusted net income including noncontrolling interest. See details »

3 Adjusted total assets. See details »

4 2021 Calculation
Adjusted ROA = 100 × Adjusted net income including noncontrolling interest ÷ Adjusted total assets
= 100 × 6,650 ÷ 46,680 = 14.25%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. 3M Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.