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3M Company
Dow 30 S&P 500
🏹 Trader: 🎯 Near 52W High | BRS 75 Ready View all →
$96.1B
Market Cap
26.7
P/E
2.35
PEG
34.2%
ROCE
74.3%
ROE
2.65
D/E
18.6%
OPM
-2.0%
% from 52W High
67
α RS
🔍 MMM is showing a high-conviction setup because it matches 7 of 37 tracked screener presets, RS Rating is 67, and it's within 2% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating 52W High
Sources
Conviction 7/37 · RS Rating 67 · 2% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for MMM including FX impact
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📈 Price History
Ratio Health
Excellent
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About

3M Company provides diversified technology services in the America, the Asia Pacific, Europe, the Middle East, Africa, and internationally.

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📈 Growth Pattern
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⭐ Superinvestors Holding MMM
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 94.6K $13.7M 0.02% Mar 2026
Cathie Wood ARK Investment Management 497 $72K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$6.5B
GAAP +2.4% YoY; organic +5.4%
Adjusted Operating Margin
24.9%
+40bps YoY
Adjusted EPS
$2.40
+11% YoY
Free Cash Flow
$1.3B
107% conversion
What Went Right
  • Q2 organic growth of 5.4% beat the >3% expectation, with SIBG +8.2%, TEBG +5.9% and first-half organic +3.3%.
  • Adjusted operating margin of 24.9% was up 40bps YoY; adjusted EPS of $2.40 was up 11%; FCF of $1.3B equated to 107% conversion.
  • NPI momentum continued: 92 product launches in Q2 (+44% YoY), 176 in H1, on track for >350 this year; EBO partnership with Microsoft announced and Madison F&R acquisition closed July 1.
What to Watch
  • Consumer segment declined 2.1% in Q2, with POS growth offset by late-June retailer inventory tightening; H2 expected flat to slightly up.
  • Oil/raw-material inflation raised to $150-175M for FY 2026; price actions should cover it dollar-for-dollar but cost ~20bps of margin rate.
  • Consumer electronics is expected to be down high-teens in H2 due to memory chip shortages; auto is flat/soft, auto aftermarket weak, and no tariff refunds have been received.
Management Guidance
  • FY 2026 adjusted organic sales growth greater than 3.5%; adjusted total sales growth greater than 4.5% (excludes Madison F&R).
  • FY 2026 adjusted EPS raised to $8.80-$8.95; adjusted operating margin expansion of 70-80bps.
  • FY 2026 adjusted free cash flow raised to $5.8-$6.0B with >100% conversion; H2 organic growth expected high-threes or better, ~100bps margin expansion and ~$0.30 EPS growth at the midpoint.
Investor Lens
The investment thesis strengthens after this call: 3M delivered a clear beat, raised full-year guidance across sales, EPS and cash, and showed durable internal drivers (commercial excellence, NPI, cross-selling) rather than macro tailwinds. The margin story remains intact at 24.9%, and FCF conversion is above 100%. However, the guide implies H2 organic growth decelerates to high-threes from Q2's 5.4%, with Consumer, consumer electronics and autos as the main watch items. Management also reaffirmed disciplined capital returns, with $3B of buybacks in H1 at an average price of ~$153.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG STRONG: 3M beats with 5.4% organic growth and raised FY guidance.
Revenue
Q2 adjusted sales were $6.5B, with organic growth of 5.4% and GAAP total growth of 2.4%. Segment growth was strong in SIBG (+8.2%) and TEBG (+5.9%), while Consumer declined 2.1%; first-half organic growth was 3.3%.
Profitability
Adjusted EPS of $2.40 was up 11% YoY; GAAP EPS of $1.78 was up 33% YoY. Operating profit growth contributed $0.16 and lower share count added $0.08.
Margins
Adjusted operating margin was 24.9%, up 40bps YoY, with business group margins up 70bps partially offset by a 30bps corporate headwind. Cost of poor quality improved 60bps and overall equipment effectiveness improved 140bps; higher oil inflation is expected to pressure margin rate by ~20bps, offset by volume and productivity.
Balance Sheet
Free cash flow was $1.3B, or 107% conversion, helped by strong earnings and seven days of inventory improvement. 3M returned $1.4B to shareholders in Q2 ($400M dividends, $1B buybacks) and $3.8B in H1.
Key Risks
Management flagged Consumer segment retailer destocking, a high-teens H2 decline expected in consumer electronics due to memory chip shortages, and softness in auto/auto aftermarket. Tariff and stranded costs were a $110M headwind in Q2, and no tariff refunds have been received to date.
Outlook
Full-year guidance was raised to organic growth >3.5%, EPS of $8.80-$8.95, and FCF of $5.8-$6.0B. Management expects H2 organic growth of high-threes or better with ~100bps margin expansion and ~$0.30 EPS growth at the midpoint, excluding Madison F&R.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-21
Q2 delivered 5.4% organic growth, 24.9% operating margin, and $2.40 EPS, with strong cash flow and $1.4B returned to shareholders. Guidance for sales, EPS, and free cash flow was raised, driven by industrial strength, innovation, and robust order momentum.
Q1 2026 Q1 2026 2026-04-21
Q1 delivered strong EPS and margin growth, with robust order momentum and backlog supporting an optimistic outlook. Automation, portfolio reshaping, and new product launches are driving productivity and positioning for higher growth, despite macro and oil price uncertainties.
Q4 2025 Q4 2025 2026-01-20
Q4 and full-year results showed strong organic growth, margin expansion, and robust cash flow, driven by commercial excellence and innovation. 2026 guidance calls for continued sales and margin growth, with ongoing transformation and capital returns to shareholders.
Q3 2025 Q3 2025 2025-10-21
Q3 delivered 3.2% organic sales growth, 170 bps margin expansion, and 10% EPS growth, driven by commercial excellence and new product launches. Full-year EPS guidance was raised, with strong cash flow and continued portfolio optimization.
Q2 2025 Q2 2025 2025-07-18
Q2 delivered strong results with adjusted EPS up 12% year-over-year, margin expansion, and robust free cash flow. All business groups grew, driven by productivity, new product launches, and commercial excellence, while guidance was raised despite ongoing PFAS litigation and tariff headwinds.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
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Information Sources:
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