Stock Analysis on Net
Stock Analysis on Net

3M Co. (NYSE:MMM)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Historical Valuation Ratios (Summary)

3M Co., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Price to earnings (P/E) 17.43 18.24 20.52 19.30 20.39 19.60 21.51 23.80 27.66 28.95 27.32 24.97 22.50 23.15 21.04 20.03 22.00 20.75 18.86
Price to operating profit (P/OP) 13.28 13.53 15.19 14.40 15.08 15.06 15.97 14.87 16.78 16.98 16.97 17.89 16.11 16.37 14.71 14.00 15.33 14.55 13.12
Price to sales (P/S) 2.85 2.80 2.92 2.99 3.11 3.42 3.51 3.28 3.72 3.71 4.19 4.42 3.97 3.88 3.53 3.28 3.58 3.38 3.01
Price to book value (P/BV) 8.24 8.93 9.32 8.92 9.93 11.39 11.75 10.51 11.77 10.91 11.48 11.29 10.46 10.74 10.32 8.23 9.06 8.68 7.79 7.96 7.23 7.13

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-08), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-01), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. 3M Co.’s P/E ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. 3M Co.’s P/OP ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. 3M Co.’s P/S ratio decreased from Q4 2019 to Q1 2020 but then slightly increased from Q1 2020 to Q2 2020.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. 3M Co.’s P/BV ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Price to Earnings (P/E)

3M Co., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576 596,200,000 601,466,401 604,400,291 606,514,530 605,038,186 615,712,937 624,745,409 634,340,975
Selected Financial Data (US$)
Net income attributable to 3M (in millions) 1,290  1,292  969  1,583  1,127  891  1,347  1,543  1,857  602  523  1,429  1,583  1,323  1,155  1,329  1,291  1,275  1,038  1,296  1,300  1,199 
Earnings per share (EPS)2 8.91 8.64 7.94 8.60 8.53 9.78 9.29 7.77 7.52 6.97 8.16 9.22 9.03 8.54 8.47 8.20 8.11 8.09 7.99 0.00 0.00 0.00
Share price1, 3 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63 178.18 164.25 178.36 167.97 150.67 157.61 151.57 156.39
Valuation Ratio
P/E ratio4 17.43 18.24 20.52 19.30 20.39 19.60 21.51 23.80 27.66 28.95 27.32 24.97 22.50 23.15 21.04 20.03 22.00 20.75 18.86
Benchmarks
P/E Ratio, Competitors5
General Electric Co. 24.96 30.34 28.65 32.22 22.97 24.31 37.53
Honeywell International Inc. 17.93 15.27 20.97 18.99 17.83 18.25 16.02 43.15 69.21 63.61 67.20 21.71 20.77 19.69 19.29 16.71 17.62 17.87 16.70

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-08), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-01), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
EPS = (Net income attributable to 3MQ2 2020 + Net income attributable to 3MQ1 2020 + Net income attributable to 3MQ4 2019 + Net income attributable to 3MQ3 2019) ÷ No. shares of common stock outstanding
= (1,290,000,000 + 1,292,000,000 + 969,000,000 + 1,583,000,000) ÷ 576,019,442 = 8.91

3 Closing price as at the filing date of 3M Co.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/E ratio = Share price ÷ EPS
= 155.33 ÷ 8.91 = 17.43

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. 3M Co.’s P/E ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Price to Operating Profit (P/OP)

3M Co., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576 596,200,000 601,466,401 604,400,291 606,514,530 605,038,186 615,712,937 624,745,409 634,340,975
Selected Financial Data (US$)
Operating income (in millions) 1,740  1,663  1,325  2,011  1,702  1,136  1,783  2,016  2,401  1,007  1,821  2,041  2,184  1,774  1,665  1,904  1,866  1,788  1,500  1,876  1,840  1,730 
Operating profit per share2 11.70 11.65 10.73 11.53 11.54 12.73 12.52 12.44 12.39 11.88 13.13 12.87 12.61 12.07 12.12 11.73 11.63 11.55 11.48 0.00 0.00 0.00
Share price1, 3 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63 178.18 164.25 178.36 167.97 150.67 157.61 151.57 156.39
Valuation Ratio
P/OP ratio4 13.28 13.53 15.19 14.40 15.08 15.06 15.97 14.87 16.78 16.98 16.97 17.89 16.11 16.37 14.71 14.00 15.33 14.55 13.12
Benchmarks
P/OP Ratio, Competitors5
General Electric Co. 7.77 5.53 9.22 8.22 9.23 8.45 8.57 8.80 10.74 11.56 12.27 14.34 16.15 18.68 19.05 17.91 19.81 19.07 18.75
Honeywell International Inc. 17.03 13.96 18.81 17.93 18.94 18.58 16.16 16.46 16.20 15.86 15.55 15.71 15.29 14.30 13.88 12.21 12.52 12.61 11.66

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-08), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-01), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
Operating profit per share = (Operating incomeQ2 2020 + Operating incomeQ1 2020 + Operating incomeQ4 2019 + Operating incomeQ3 2019) ÷ No. shares of common stock outstanding
= (1,740,000,000 + 1,663,000,000 + 1,325,000,000 + 2,011,000,000) ÷ 576,019,442 = 11.70

3 Closing price as at the filing date of 3M Co.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 155.33 ÷ 11.70 = 13.28

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. 3M Co.’s P/OP ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Price to Sales (P/S)

3M Co., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576 596,200,000 601,466,401 604,400,291 606,514,530 605,038,186 615,712,937 624,745,409 634,340,975
Selected Financial Data (US$)
Net sales (in millions) 7,176  8,075  8,111  7,991  8,171  7,863  7,945  8,152  8,390  8,278  7,990  8,172  7,810  7,685  7,329  7,709  7,662  7,409  7,298  7,712  7,686  7,578 
Sales per share2 54.43 56.24 55.83 55.60 55.85 56.12 56.90 56.35 55.97 54.32 53.16 52.04 51.16 50.88 50.50 50.01 49.77 49.64 50.04 0.00 0.00 0.00
Share price1, 3 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63 178.18 164.25 178.36 167.97 150.67 157.61 151.57 156.39
Valuation Ratio
P/S ratio4 2.85 2.80 2.92 2.99 3.11 3.42 3.51 3.28 3.72 3.71 4.19 4.42 3.97 3.88 3.53 3.28 3.58 3.38 3.01
Benchmarks
P/S Ratio, Competitors5
General Electric Co. 0.71 0.67 1.18 0.94 0.91 0.83 0.82 0.78 0.98 1.06 1.11 1.58 2.02 2.30 2.39 2.28 2.55 2.57 2.59
Honeywell International Inc. 3.04 2.65 3.51 3.24 3.24 3.05 2.59 2.65 2.69 2.71 2.74 2.79 2.63 2.47 2.36 2.11 2.25 2.24 2.06

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-08), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-01), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
Sales per share = (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019) ÷ No. shares of common stock outstanding
= (7,176,000,000 + 8,075,000,000 + 8,111,000,000 + 7,991,000,000) ÷ 576,019,442 = 54.43

3 Closing price as at the filing date of 3M Co.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 155.33 ÷ 54.43 = 2.85

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. 3M Co.’s P/S ratio decreased from Q4 2019 to Q1 2020 but then slightly increased from Q1 2020 to Q2 2020.

Price to Book Value (P/BV)

3M Co., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576 596,200,000 601,466,401 604,400,291 606,514,530 605,038,186 615,712,937 624,745,409 634,340,975
Selected Financial Data (US$)
Total 3M Company shareholders’ equity (in millions) 10,857  10,147  10,063  10,702  10,083  9,703  9,796  10,248  10,365  10,977  11,563  12,146  11,591  10,989  10,298  12,002  11,894  11,733  11,708  12,186  13,093  13,917 
Book value per share (BVPS)2 18.85 17.64 17.48 18.61 17.53 16.83 17.01 17.60 17.67 18.49 19.42 20.39 19.42 18.40 17.27 19.95 19.68 19.34 19.35 19.79 20.96 21.94
Share price1, 3 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63 178.18 164.25 178.36 167.97 150.67 157.61 151.57 156.39
Valuation Ratio
P/BV ratio4 8.24 8.93 9.32 8.92 9.93 11.39 11.75 10.51 11.77 10.91 11.48 11.29 10.46 10.74 10.32 8.23 9.06 8.68 7.79 7.96 7.23 7.13
Benchmarks
P/BV Ratio, Competitors5
General Electric Co. 1.71 1.63 3.66 3.16 2.55 2.52 3.00 2.82 2.06 2.18 1.96 2.33 2.98 3.40 3.47 3.08 3.28 3.04 2.79 2.67 2.41 2.53
Honeywell International Inc. 5.78 5.46 6.97 6.61 7.00 6.56 5.96 6.23 6.46 6.39 6.44 5.25 5.08 4.77 4.79 4.33 4.69 4.78 4.35 4.21 4.47 4.53

Based on: 10-Q (filing date: 2020-07-28), 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-06), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-07-26), 10-Q (filing date: 2019-04-26), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-08), 10-K (filing date: 2018-02-08), 10-Q (filing date: 2017-10-31), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-11-01), 10-Q (filing date: 2016-08-02), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
BVPS = Total 3M Company shareholders’ equity ÷ No. shares of common stock outstanding
= 10,857,000,000 ÷ 576,019,442 = 18.85

3 Closing price as at the filing date of 3M Co.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 155.33 ÷ 18.85 = 8.24

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. 3M Co.’s P/BV ratio decreased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.