3M (MMM)
NYSEIndustrialsConglomeratesSnapshot 2026-07-08
$154.71-2.09%
Close 2026-07-08 · 1-day change
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Track MMM free→Warn: Management is running behind on a stated commitment.
3M keeps beating earnings estimates with EPS near $8.6 for 2026. Profit margin expansion of about 0.75% is targeted. Free cash flow is expected around $5.7 billion. The company has a strong market position and steady revenue growth near 2.6%.
3M faces margin pressure and slow revenue growth. Free cash flow may fall short of $5.6 billion. The company’s quality is fragile and management execution is mixed. Rising costs or weaker demand could hurt results.
The price is about 15% above our fair value near $137. Analysts expect roughly 2.6% revenue growth and EPS around $8.7 in 2026. Our view aligns with these but sees limited upside beyond current estimates.
Breaks if: EPS falls below $8.5 in FY26
3M aims to achieve its 2026 EPS guidance range of $8.50 to $8.70.
Stated in 3 of last 3 quarters. Adjusted EPS guidance for 2026 is $8.50 to $8.70. In 2026-Q1, diluted EPS was $1.23, down from $2.04 in 2025-Q1. Persistent statement, limited substantive delivery this quarter.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“3M reiterated full-year 2026 expectations: Adjusted EPS in the range of $8.50 to $8.70.”
“Adjusted EPS 1 in the range of $8.50 to $8.70.”
“2025 adjusted EPS guidance increased from $7.75 - $8.00 to $7.95 - $8.05.”
Breaks if: Free cash flow falls below $5.6 billion in FY26
3M aims to increase its operating cash flow to $5.6 to $5.8 billion in 2026.
Stated in 3 of last 3 quarters. Adjusted operating cash flow guidance for 2026 is $5.6 to $5.8 billion. In 2026-Q1, cash from operations was $0.6 billion. Persistent statement, limited substantive delivery this quarter.
“Adjusted operating cash flow of $5.6 to $5.8 billion.”
“Adjusted operating cash flow 1 of $5.6 to $5.8 billion.”
“Adjusted operating cash flow 1 of $5.2 to $5.4 billion.”
Breaks if: Operating margin expansion falls below 0.7% in FY26
3M aims to expand its operating margin by 70 to 80 basis points in 2026.
Stated in 3 of last 3 quarters. Adjusted operating income margin expansion of 70 to 80 bps is targeted for 2026. In 2026-Q1, adjusted operating margin was 23.8%, up 30 bps YoY. Recurring focus, narrow delivery so far.
“Adjusted operating income margin expansion of 70 bps to 80 bps.”
“Adjusted operating income margin expansion 1 of 70 bps to 80 bps.”
“Adjusted operating income margin expansion 1 of 180 bps to 200 bps.”
Breaks if: Revenue growth falls below 2.5% YoY