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MMM · NYSE · United States · Surgical & Medical Instruments & Apparatus
In short3M CO is profitable, generates cash and carries heavy debt, with revenue stable (+1.5% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 18.6% | 79/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 13.0% | 72/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 76.1% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 20.4% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.71× | 76/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 2.68× | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 1.24× | 79/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 4.89× | 32/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 5.46 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 5.6% | 42/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.43× | 16/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 5 | 80/100 |
|---|---|---|
| Years of revenue decline (last 5) | 3 of 5 | 0/100 |
| Revenue growth volatility | 13.5% | 61/100 |
| Operating margin volatility | 27.9% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -1.6% | 8/100 |
|---|---|---|
| EPS growth, 3-year average | -16.2% | 0/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 35,355 | 26,161 | 24,610 | 24,575 | 24,948 |
| Cost of revenue | 18,795 | 15,853 | 14,983 | 14,447 | 14,991 |
| Gross profit | 16,560 | 10,308 | 9,627 | 10,128 | 9,957 |
| Research & development | 1,200 | 800 | 700 | 700 | – |
| Selling, general & admin | 7,197 | 7,232 | 19,198 | 4,221 | 3,997 |
| Operating income | 7,369 | 4,369 | (10,689) | 4,822 | 4,629 |
| Interest expense | 488 | 462 | 942 | 1,191 | 946 |
| Pre-tax income | 7,204 | 4,204 | (11,271) | 4,819 | 4,213 |
| Income tax | 1,285 | 188 | (2,867) | 804 | 1,003 |
| Net income | 5,921 | 5,777 | (6,995) | 4,173 | 3,250 |
| Diluted EPS | $10.12 | $10.18 | −$12.63 | $7.55 | $6.00 |
| Diluted shares (millions) | 585 | 568 | 554 | 552 | 541 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
5.46 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Sep 30, 2026 · Data updated Oct 20, 2026