3M Co.
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+ FollowMarket Cap$100.64B
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Earnings Call Q3 2026
October 20, 2026 - AI Summary
Strong Q3 results + capital returns
- Organic sales growth: +3.3%; Operating margin: 26.2% (+110 bps YoY); EPS (adjusted): $2.50 (+12%); Free cash flow (FCF): $1.2B
- Shareholder returns in the quarter: $600M total = $400M dividends + $200M share repurchases
- Surprising/important: Results include the Madison Fire and Rescue acquisition, now fully consolidated and affecting reporting (integration and accounting change noted).
FY 2026 outlook raised; expects continued organic growth
- Management remains confident in organic growth >3.5% for the full year, helped by strong order trends and backlog.
- EPS guidance raised (new basis): from $9.10–$9.15 (~$0.10 above midpoint vs prior range), implying ~11–12% growth for 2026.
- Q4 organic growth expectation: just over 4% (supports full-year >3.5%).
- FCF forecast unchanged: ~$4.8B for the year; adjusted tax rate ~20%.
- Good news driver: Pricing and new product execution are stated to fully offset material/oil cost pressures, though that pricing is partly aided by better product availability/service and “commercial excellence.”
Margin improvement supported by productivity; oil/material inflation is a key watch item
- Oil/material inflation estimate increased: now $185M (vs $150M–$175M previously).
- Despite that, company expects to fully offset inflation through pricing, but acknowledges dilution on margin rate of ~20 bps, mitigated via productivity.
- No major one-time tailwind claimed: margin expansion attributed to supply chain productivity, quality improvements, procurement savings, asset utilization, and transformation actions.
- Incremental margin expectation: company references historically 30–40%; now suggests they are closer to ~40% based on recent progress (i.e., strong operating leverage).
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$55.88
71.2% downside
Current Fair Value
71.2% downsideOvervalued by 71.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $100.64 Billion |
|---|---|
| Enterprise Value | $111.26 Billion |
| Annual dividend | $3.07 |
| Dividend yield | 1.76% |
| Earnings per Share | $6.04 |
| Beta | 1.06 |
| Outstanding Shares | 518,800,000 |
Return
| Return on Equity | 87.64% |
|---|---|
| Return on Assets | 9.15% |
| Return on Invested Capital | 17.12% |
Valuation & Multiples
| P/E Ratio | 25.83 |
|---|---|
| PEG | 37.83 |
| Price to Sales | 4.04 |
| Price to Book Ratio | 21.55 |
| Enterprise Value to Revenue | 4.38 |
| Enterprise Value to EBIT | 23.83 |
| Enterprise Value to Net Income | 31 |
| Total Debt to Enterprise | 0.14 |
| Debt to Equity | 3.78 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 20, 2026
EPS Estimate
$2.38
Consensus analyst estimateRevenue Estimate
$6.61 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 19, 2027
EPS Estimate
$2.03
Consensus analyst estimateRevenue Estimate
$6.34 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.35, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.3529▼ 63.99% |
|---|---|
| Total Calls | 10,200▼ 99.74% |
| Total Puts | 3,600▼ 99.91% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.04%▼ 70.82% |
|---|---|
| Total Invested | $2.61B▼ 95.86% |
| Investors Holding | 971▼ 1351.00% |
About 3M Co.
96,163 employees
CEO: Michael Roman
3M Company is a diversified corporation manufacturing a wide range of products, including abrasives, adhesive tape and related products, and consumer-electronics components. It is headquartered in St. Paul, Minnesota. 3M apply science i...