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.

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

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Historical Valuation Ratios (Summary)

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

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
Price to earnings (P/E) 9.96 19.06 14.67 15.78 17.58 19.50 19.72 19.05 18.71 17.43 18.24 20.52 19.30 20.39 19.60 21.51 23.80 27.66 28.95 27.32
Price to operating profit (P/OP) 8.71 15.34 11.70 12.68 13.81 15.02 15.05 14.32 14.00 13.28 13.53 15.19 14.40 15.08 15.06 15.97 14.87 16.78 16.98 16.97
Price to sales (P/S) 1.88 2.25 2.32 2.64 2.97 3.34 3.42 3.19 2.93 2.85 2.80 2.92 2.99 3.11 3.42 3.51 3.28 3.72 3.71 4.19
Price to book value (P/BV) 4.65 5.76 5.50 6.21 7.26 8.03 8.19 7.97 7.82 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

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

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. P/E ratio increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.
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. P/OP ratio increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.
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. P/S ratio decreased from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. 3M Co. P/BV ratio increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.

Price to Earnings (P/E)

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

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
No. shares of common stock outstanding1 552,742,915 569,603,928 569,058,849 571,100,000 576,252,803 578,638,253 579,675,002 579,100,000 576,821,878 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576
Selected Financial Data (US$)
Net income attributable to 3M (in millions) 3,859 78 1,299 1,339 1,434 1,524 1,624 1,389 1,413 1,290 1,292 969 1,583 1,127 891 1,347 1,543 1,857 602 523 1,429 1,583 1,323
Earnings per share (EPS)2 11.90 7.29 9.83 10.37 10.36 10.28 9.86 9.30 8.61 8.91 8.64 7.94 8.60 8.53 9.78 9.29 7.77 7.52 6.97 8.16 0.00 0.00 0.00
Share price1, 3 118.50 138.86 144.22 163.64 182.16 200.47 194.45 177.10 161.03 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63
Valuation Ratio
P/E ratio4 9.96 19.06 14.67 15.78 17.58 19.50 19.72 19.05 18.71 17.43 18.24 20.52 19.30 20.39 19.60 21.51 23.80 27.66 28.95 27.32
Benchmarks
P/E Ratio, Competitors5
Boeing Co.
Caterpillar Inc. 15.15 14.29 18.28 16.82 21.38 25.50 37.92 36.80 25.43 17.65 11.00 12.36
Cummins Inc. 17.56 14.99 14.66 14.94 15.48 15.18 19.87 20.23 20.48 16.85 11.27 10.92
General Electric Co. 19.67 19.55
Honeywell International Inc. 24.58 25.26 25.10 23.14 27.35 31.83 33.71 29.63 23.23 17.93 15.27 20.97
Lockheed Martin Corp. 19.28 22.00 19.45 16.70 15.11 14.27 15.48 13.44 15.79 16.26 17.09 19.87
RTX Corp. 29.12 29.83 35.16 36.79 40.28 60.91 12.02 24.41

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
EPS = (Net income attributable to 3MQ3 2022 + Net income attributable to 3MQ2 2022 + Net income attributable to 3MQ1 2022 + Net income attributable to 3MQ4 2021) ÷ No. shares of common stock outstanding
= (3,859,000,000 + 78,000,000 + 1,299,000,000 + 1,339,000,000) ÷ 552,742,915 = 11.90

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

4 Q3 2022 Calculation
P/E ratio = Share price ÷ EPS
= 118.50 ÷ 11.90 = 9.96

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. P/E ratio increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.

Price to Operating Profit (P/OP)

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

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
No. shares of common stock outstanding1 552,742,915 569,603,928 569,058,849 571,100,000 576,252,803 578,638,253 579,675,002 579,100,000 576,821,878 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576
Selected Financial Data (US$)
Operating income (in millions) 4,156 110 1,641 1,616 1,788 1,971 1,994 1,849 1,909 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
Operating profit per share2 13.61 9.05 12.33 12.90 13.19 13.35 12.92 12.37 11.51 11.70 11.65 10.73 11.53 11.54 12.73 12.52 12.44 12.39 11.88 13.13 0.00 0.00 0.00
Share price1, 3 118.50 138.86 144.22 163.64 182.16 200.47 194.45 177.10 161.03 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63
Valuation Ratio
P/OP ratio4 8.71 15.34 11.70 12.68 13.81 15.02 15.05 14.32 14.00 13.28 13.53 15.19 14.40 15.08 15.06 15.97 14.87 16.78 16.98 16.97
Benchmarks
P/OP Ratio, Competitors5
Boeing Co.
Caterpillar Inc. 14.25 13.65 17.16 15.87 16.57 18.76 26.25 24.23 16.79 12.06 7.79 9.08
Cummins Inc. 12.82 11.53 11.41 11.76 12.20 11.77 15.28 15.95 16.31 14.24 9.37 9.14
General Electric Co. 15.70 13.51 17.08 17.46 20.90 23.40 35.58 25.64 11.62 7.77 5.53 9.22
Honeywell International Inc. 21.54 21.51 22.09 20.68 23.54 25.98 28.28 24.86 20.25 17.03 13.96 18.81
Lockheed Martin Corp. 13.30 11.97 13.61 11.56 10.22 11.57 12.37 10.63 12.14 12.39 12.72 14.49
RTX Corp. 24.82 26.15 29.36 28.68 35.30 46.33 48.47 6.01 15.07

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
Operating profit per share = (Operating incomeQ3 2022 + Operating incomeQ2 2022 + Operating incomeQ1 2022 + Operating incomeQ4 2021) ÷ No. shares of common stock outstanding
= (4,156,000,000 + 110,000,000 + 1,641,000,000 + 1,616,000,000) ÷ 552,742,915 = 13.61

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

4 Q3 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 118.50 ÷ 13.61 = 8.71

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. P/OP ratio increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.

Price to Sales (P/S)

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

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
No. shares of common stock outstanding1 552,742,915 569,603,928 569,058,849 571,100,000 576,252,803 578,638,253 579,675,002 579,100,000 576,821,878 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576
Selected Financial Data (US$)
Net sales (in millions) 8,619 8,702 8,829 8,612 8,942 8,950 8,851 8,583 8,350 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
Sales per share2 62.89 61.60 62.09 61.91 61.30 60.03 56.86 55.58 54.98 54.43 56.24 55.83 55.60 55.85 56.12 56.90 56.35 55.97 54.32 53.16 0.00 0.00 0.00
Share price1, 3 118.50 138.86 144.22 163.64 182.16 200.47 194.45 177.10 161.03 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63
Valuation Ratio
P/S ratio4 1.88 2.25 2.32 2.64 2.97 3.34 3.42 3.19 2.93 2.85 2.80 2.92 2.99 3.11 3.42 3.51 3.28 3.72 3.71 4.19
Benchmarks
P/S Ratio, Competitors5
Boeing Co. 1.30 1.53 1.50 1.87 1.93 2.20 2.44 1.96 1.38 1.41 1.11 2.34
Caterpillar Inc. 2.08 1.88 2.38 2.26 2.41 2.59 3.23 2.83 2.06 1.68 1.22 1.48
Cummins Inc. 1.29 1.24 1.17 1.33 1.44 1.45 1.79 1.83 1.66 1.43 1.05 1.05
General Electric Co. 1.11 1.10 1.25 1.50 1.64 1.60 1.68 1.41 0.84 0.71 0.67 1.18
Honeywell International Inc. 3.78 3.72 3.84 3.73 4.32 4.66 4.78 4.34 3.48 3.04 2.65 3.51
Lockheed Martin Corp. 1.75 1.61 1.84 1.57 1.38 1.53 1.63 1.40 1.61 1.67 1.75 2.07
RTX Corp. 1.97 2.04 2.27 2.21 2.09 2.14 2.07 1.95 1.44 1.41 0.71 1.75

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
Sales per share = (Net salesQ3 2022 + Net salesQ2 2022 + Net salesQ1 2022 + Net salesQ4 2021) ÷ No. shares of common stock outstanding
= (8,619,000,000 + 8,702,000,000 + 8,829,000,000 + 8,612,000,000) ÷ 552,742,915 = 62.89

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

4 Q3 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= 118.50 ÷ 62.89 = 1.88

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. P/S ratio decreased from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022.

Price to Book Value (P/BV)

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

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
No. shares of common stock outstanding1 552,742,915 569,603,928 569,058,849 571,100,000 576,252,803 578,638,253 579,675,002 579,100,000 576,821,878 576,019,442 575,196,371 575,600,000 575,050,655 575,279,050 576,426,706 575,800,000 582,287,135 586,613,476 593,692,282 595,500,000 595,608,108 596,767,147 597,239,576
Selected Financial Data (US$)
Total 3M Company shareholders’ equity (in millions) 14,080 13,742 14,930 15,046 14,460 14,448 13,760 12,867 11,880 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
Book value per share (BVPS)2 25.47 24.13 26.24 26.35 25.09 24.97 23.74 22.22 20.60 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
Share price1, 3 118.50 138.86 144.22 163.64 182.16 200.47 194.45 177.10 161.03 155.33 157.61 162.89 166.09 173.98 191.67 199.84 184.99 207.96 201.74 222.89 230.19 203.18 197.63
Valuation Ratio
P/BV ratio4 4.65 5.76 5.50 6.21 7.26 8.03 8.19 7.97 7.82 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
Benchmarks
P/BV Ratio, Competitors5
Boeing Co. 1,689.96
Caterpillar Inc. 7.16 6.14 6.96 6.62 6.61 6.65 7.86 7.20 5.64 5.32 4.11 5.16 5.09 4.81 5.06
Cummins Inc. 4.01 3.51 3.38 3.76 4.29 4.25 4.61 4.49 4.22 4.00 3.36 3.29 3.47 3.15 3.35
General Electric Co. 2.53 2.26 2.27 2.64 3.15 3.43 3.53 2.89 1.95 1.71 1.63 3.66 3.16 2.55 2.52
Honeywell International Inc. 7.46 7.31 7.17 6.91 8.39 8.83 8.67 8.07 6.40 5.78 5.46 6.97 6.61 7.00 6.56
Lockheed Martin Corp. 9.46 9.05 12.08 9.62 9.50 15.63 17.05 15.27 20.84 27.96 30.96 39.60 26.86 35.45 37.84
RTX Corp. 1.85 1.89 2.04 1.95 1.87 1.87 1.75 1.53 1.26 1.35 1.25 3.24 3.05 2.87 3.05

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Data adjusted for splits and stock dividends.

2 Q3 2022 Calculation
BVPS = Total 3M Company shareholders’ equity ÷ No. shares of common stock outstanding
= 14,080,000,000 ÷ 552,742,915 = 25.47

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

4 Q3 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= 118.50 ÷ 25.47 = 4.65

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 required rate of return and its actual rate of return. 3M Co. P/BV ratio increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022.