Morningstar

3M Co MMM

Morningstar Rating
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Stock XNYS Rating as of
$135.43 −1.63 (1.19%)
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As of Delayed Price Closed

Company Report

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3M Carves a Narrow Moat With Old-World Products, but Litigation Woes Give Us Pause

Estimating 3M's legal liabilities from producing per- and polyfluoroalkyl substances, or PFAS, is a highly uncertain exercise. While some believe these liabilities total greater than the firm's market capitalization, we think 3M's settlements and the spinoff of Solventum reduce 3M's risks substantially. We remain concerned over 3M's incremental PFAS-related liabilities, but we think they're manageable in their current state.

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Price vs Fair Value

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MMM is trading at a 384% premium.
Price
$135.43
Fair Value
$46.00
Uncertainty
Very High
1-Star Price
$581.54
5-Star Price
$85.10
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

3M’s legacy portfolio remains highly profitable and is poised to benefit from multiple secular growth trends, such as a growing global middle class and rising regulatory standards.

Bears

Multibillion-dollar pending litigation risks will cripple the value of the company and remove any benefit from potential fundamental catalysts.

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News

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Trading Information

Previous Close Price
$137.06
Day Range
$135.37–137.22
52-Week Range
$71.35–140.72
Bid/Ask
$135.45 / $135.79
Market Cap
$74.40 Bil
Volume/Avg
2.6 Mil / 4.1 Mil

Key Statistics

Price/Earnings (Normalized)
14.38
Price/Sales
2.63
Dividend Yield (Trailing)
3.26%
Dividend Yield (Forward)
2.07%
Total Yield
3.83%

Company Profile

3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M’s revenue comes from outside the Americas.
Sector
Industrials
Industry
Conglomerates
Stock Style Box
Large Value
Total Number of Employees
85,000
Website
https://www.3m.com

Competitors

Valuation

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Metric
MMM
PG
KMB
Price/Earnings (Normalized)
 14.3826.3619.66
Price/Book Value
 19.008.0742.05
Price/Sales
 2.635.062.37
Price/Cash Flow
 14.1920.9515.39
Price/Earnings
MMM
PG
KMB

Financial Strength

Metric
MMM
PG
KMB
Quick Ratio
 0.970.460.49
Current Ratio
 1.360.730.85
Interest Coverage
 1.0520.7710.19
Quick Ratio
MMM
PG
KMB

Profitability

Metric
MMM
PG
KMB
Return on Assets (Normalized)
 9.79%13.43%14.17%
Return on Equity (Normalized)
 93.10%33.48%285.85%
Return on Invested Capital (Normalized)
 24.75%20.04%28.82%
Return on Assets
MMM
PG
KMB

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