MMM
3m Co Health Care Surgical & Medical Instruments & Apparatus S&P 500Dow 30Russell 3000
$174.34Close
$92.4BMarket cap
$139.86 – $182.9852-week range
Jan 19, 2027Next report · estimated
Highlights
Strengths
- Near its high 5% below its 52-week high
- Earnings growing EPS +70% year on year, faster than the quarter before (+36 pts)
Cautions
- Trend not confirmed 6 of 8 conditions · under 30% off the low, RS under 70
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
5%
1wk
up 0.5%
price change
1mo
up 6.2%
price change
12-month return
up 7%
market up 11% ·
its own down 3%
F-score
5 / 9
Mixed
Altman Z
4.38
Low risk
P/E
28.4×
price / earnings
PEG
—
P/E / EPS growth
P/B
19.7×
price / book
Earnings yield
up 4.7%
EBIT / enterprise value
Cheaper than
34%
of the market · expensive
Revenue growth
up 2%
year on year
EPS growth
up 70%
latest quarter · +36 pts
Sales growth
up 1%
latest quarter · -1 pts
ROE
up 76%
return on equity
Free cash margin
up 6%
$1.4B FCF
D/E
2.32
long-term debt / equity
Net debt / EBITDA
1.0×
Interest cover
10.3×EBIT / interest
Piotroski tests
- profitability slipped from last year
- profits not fully backed by cash
- took on more long-term debt
- gross margin narrowed
- profitable on its assets
- generating cash from operations
- short-term liquidity improved
- no new shares issued
- assets working harder
Repair signals
- Revenue reaccelerating (-0% then +2%)
Trade setup
ATR%
2.3%
$3.99 a day · 2×ATR $166.36
RS
61 / 99
vs the universe
Trend
6 / 8
under 30% off the low, RS under 70
Relative volume
1.0×
vs 50-day average
Up/down volume
1.02
50 sessions
Implied move
—
no scheduled report
Trend template · 6 of 8
- At least 30% above the 52-week low: fails
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Profit not backed by cash Reported profit of $3.2B came with $2.3B of operating cash flow. Profit that cash does not follow is the classic signature of aggressive accounting.
- Gross margin narrowing Gross margin fell from 41.2% to 39.9%. The company is keeping less of each dollar of sales than it did a year ago.
Last reported
Oct 20, 2026
Results reaction
Oct 20, 2026+7% vs market2 sessions after results
Options
$3.1M25.5% IV · activity
Financials
- Gross 40%
- Net 13%
- Free cash 6%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $32.2B | $35.4B | $26.2B | $24.6B | $24.6B | $24.9B |
| Gross margin | 48% | 47% | 39% | 39% | 41% | 40% |
| Operating income | $7.2B | $7.4B | $4.4B | -$10.7B | $4.8B | $4.6B |
| Net income | $5.4B | $5.9B | $5.8B | -$7.0B | $4.2B | $3.2B |
| Net margin | 17% | 17% | 22% | -28% | 17% | 13% |
| Earnings per share | $9.36 | $10.12 | $10.18 | -$12.63 | $7.55 | $6.00 |
| Free cash flow | $6.6B | $5.9B | $3.8B | $5.1B | $638.0M | $1.4B |
| Free cash margin | 21% | 17% | 15% | 21% | 3% | 6% |
| Cash | $4.6B | $4.6B | $3.7B | $5.9B | $5.6B | $5.2B |
| Long-term debt | $18.0B | $16.1B | $14.0B | $13.1B | $11.1B | $10.9B |
| Shareholders' equity | $12.9B | $15.0B | $14.7B | $4.8B | $3.8B | $4.7B |
| Shares outstanding | 577.75m | 571.85m | 549.25m | 552.58m | 539.47m | 530.28m |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $164 – $184 ±5.7% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- About the same 25.5% priced · 27.9% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Choppier
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs more
Positioning
- Premium traded
- $3.1M calls $2.4M · puts $670,000 · latest session
- 0.28× -0.12 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls -5.99k · puts -6.93k past week
For options traders: ATM IV 25.5% (-1.0% 1w) · 1m ÷ 3m IV 1.06 · 25Δ skew 4.3 pts · Net GEX $23.1M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 20, 2026 | Quarterly ↗ | Sep 30, 2026 | 20d |
| Jul 21, 2026 | Quarterly ↗ | Jun 30, 2026 | 21d |
| Apr 21, 2026 | Quarterly ↗ | Mar 31, 2026 | 21d |
| Feb 3, 2026 | Annual ↗ | Dec 31, 2025 | 34d |
| Oct 21, 2025 | Quarterly ↗ | Sep 30, 2025 | 21d |
| Jul 18, 2025 | Quarterly ↗ | Jun 30, 2025 | 18d |
| Apr 22, 2025 | Quarterly ↗ | Mar 31, 2025 | 22d |
| Feb 5, 2025 | Annual ↗ | Dec 31, 2024 | 36d |
| Oct 22, 2024 | Quarterly ↗ | Sep 30, 2024 | 22d |
| Jul 26, 2024 | Quarterly ↗ | Jun 30, 2024 | 26d |
| Apr 30, 2024 | Quarterly ↗ | Mar 31, 2024 | 30d |
| Feb 7, 2024 | Annual ↗ | Dec 31, 2023 | 38d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 20, 2026 | Results ↗ |
| Oct 19, 2026 | Regulation FD ↗ |
| Sep 10, 2026 | Other events ↗ |
| Aug 19, 2026 | Material agreement · Agreement ended · New obligation ↗ |
| Jul 21, 2026 | Results ↗ |
| Jun 8, 2026 | Director or officer change ↗ |
| May 13, 2026 | Shareholder vote ↗ |
| May 6, 2026 | Material agreement · New obligation ↗ |
| Apr 21, 2026 | Results ↗ |
| Feb 5, 2026 | Director or officer change ↗ |
| Jan 20, 2026 | Results ↗ |
| Oct 21, 2025 | Results ↗ |