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3M Co - Stock Quote MMM

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Morningstar's 3M Co Stock Analysis

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The Market Reaction Following 3M’s Results Was Justified, but Long Term, the Stock Is Cheap

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

After reviewing wide-moat 3M’s first-quarter results, we decrease our fair value estimate by 3% to $186, in line with the price action on the trading day. We raised our revenue assumptions, since 3M is running surprisingly ahead of our prior projections (thanks to price increases). That said, we reduced our full-year operating margin projections by 120 basis points. This brought our GAAP down to $9.99 from $10.53 previously. This implies adjusted EPS of $10.88.  

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3M Co's Company Profile

Business Description

3M is a multinational conglomerate that has operated since 1902 when it was known as Minnesota Mining and Manufacturing. The company is well-known for its research and development laboratory, and the firm leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company’s revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of the firm’s net sales. Many of the company’s 60,000-plus products touch and concern a variety of consumers and end markets.

3M Center
St. Paul, MN, 55144
T +1 651 733-1110
Sector Industrials
Industry Conglomerates
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type High Yield
Employees 95,000

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