3M

Industrials Industrial Conglomerates Saint Paul, Minnesota Last filing Feb 3, 2026 · FY2025

                    Revenue
                    FY2025
                
$24.9B
                    3y CAGR -1.6%
                    
                    P17
                    
                    +1.5%
                    
                    Net income
                    FY2025
                
$3.2B
                    Net margin +13.0%
                    
                    P54
                    
                    -22.1%
                    
                    Total assets
                    FY2025
                
$37.7B
                    ROA +8.6%
                    
                    P57
                    
                    -5.4%
                    
                    Operating cash flow
                    FY2025
                
$2.3B
                    FCF margin +5.6%
                    
                    P10
                    
                    +26.8%

20 yrs · FY2006–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 10 years

Total assets $37.7B

Total liabilities $33.0B

Shareholders equity $4.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	21.0%	22.8%	24.1%	14.0%	12.9%	14.4%	7.3%	8.7%	9.6%	8.0%
Short Term Investments	2.8%	8.7%	0.2%	0.9%	0.6%	1.3%	0.3%	1.2%	3.4%	0.9%
Accounts Receivable	14.2%	13.0%	19.3%	17.3%	13.2%	14.6%	14.9%	15.3%	15.5%	14.6%
Inventory	14.7%	15.0%	19.6%	20.5%	14.1%	13.2%	12.9%	13.3%	12.7%	11.2%
Prepaid Expenses	1.6%	1.8%	2.0%	1.7%	1.8%	2.1%	2.2%	2.3%	3.0%	2.7%
Other Current Assets	11.3%	3.4%	1.4%	1.7%	1.0%	1.0%	2.8%	1.1%	0.8%	1.5%
Total Current Assets	65.7%	64.6%	66.6%	56.1%	43.6%	46.6%	40.4%	41.8%	45.1%	38.9%
Property,Plant and Equipment	28.5%	30.1%	37.2%	35.1%	26.7%	29.3%	29.0%	26.7%	28.0%	28.3%
Operating Lease Assets	2.1%	2.3%	3.1%	3.2%	2.4%	2.7%	2.7%	—	—	—
Goodwill	25.7%	25.6%	25.9%	48.9%	38.1%	42.9%	41.8%	30.7%	33.2%	30.4%
Intangible Assets	4.4%	4.9%	17.2%	18.0%	15.0%	18.1%	19.9%	8.1%	9.3%	7.7%
Deferred Tax Assets	16.8%	17.9%	20.0%	3.7%	1.6%	2.7%	1.6%	4.4%	5.1%	7.5%
Other Noncurrent Assets	26.9%	34.8%	29.0%	16.3%	7.4%	7.6%	5.2%	4.1%	4.4%	3.9%
Total Assets	151.2%	162.2%	205.5%	177.6%	133.1%	147.1%	139.0%	111.4%	120.0%	109.3%
Liabilities
Accounts Payable	10.8%	10.8%	13.2%	12.2%	8.5%	8.0%	6.9%	6.9%	6.1%	6.0%
Accrued Liabilities	2.9%	4.2%	3.5%	3.0%	2.3%	2.9%	2.8%	2.3%	2.6%	2.3%
Current Portion of Long Term Debt	6.7%	7.8%	4.7%	7.4%	3.7%	2.5%	8.7%	3.7%	5.9%	3.2%
Operating Lease Liabilities	0.7%	0.7%	0.9%	1.0%	0.7%	0.8%	0.8%	—	—	—
Other Current Liabilities	17.8%	22.3%	30.9%	12.2%	9.0%	10.2%	9.5%	8.5%	8.6%	8.2%
Total Current Liabilities	38.5%	45.8%	62.2%	36.4%	25.6%	24.7%	28.7%	22.1%	24.3%	20.7%
Long Term Debt	43.8%	53.1%	57.9%	60.9%	49.1%	58.4%	60.2%	43.2%	41.7%	38.1%
Operating Lease Liabilities Noncurrent	1.5%	1.6%	2.2%	2.2%	1.7%	1.9%	1.9%	—	—	—
Deferred Tax Liabilities	3.2%	2.4%	2.1%	2.1%	1.3%	1.0%	0.9%	4.2%	4.2%	6.6%
Other Noncurrent Liabilities	43.4%	46.3%	58.2%	21.5%	9.6%	10.8%	10.2%	9.2%	9.4%	5.5%
Total Liabilities	132.2%	146.4%	185.7%	121.1%	90.4%	106.9%	107.5%	81.3%	83.3%	74.9%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	29.8%	29.4%	28.3%	25.6%	18.2%	19.1%	18.4%	17.2%	16.9%	16.8%
Retained Earnings	153.4%	149.7%	152.3%	183.3%	129.6%	136.2%	131.1%	124.0%	123.6%	125.9%
Treasury Stock	13.0%	7.4%	0.1%	5.6%	6.2%	1.1%	4.3%	14.9%	6.5%	12.3%
Accumulated Other Comprehensive Income	-20.3%	-23.3%	-27.5%	-25.5%	-19.1%	-24.0%	-25.3%	-21.0%	-22.2%	-24.1%
Noncontrolling Interest	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.1%
Total Stockholders Equity	18.8%	15.6%	19.5%	56.3%	42.6%	40.0%	31.3%	29.9%	36.5%	34.2%
Total Liabilitiesand Equity	151.2%	162.2%	205.5%	177.6%	133.1%	147.1%	139.0%	111.4%	120.0%	109.3%

Income Statement

Revenue, expense, and profitability

18 accounts · 10 years

Revenue $24.9B

Operating income $4.6B

Net income $3.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	60.1%	58.8%	60.9%	60.6%	53.2%	51.6%	53.3%	50.9%	50.7%	50.2%
Expenses Selling,General and Administrative	16.0%	17.2%	78.0%	27.6%	20.4%	21.5%	21.9%	23.2%	20.9%	21.0%
Expenses Depreciation and Amortization	5.2%	5.5%	8.1%	7.0%	5.4%	5.9%	5.0%	4.5%	4.9%	4.9%
Expenses Share Based Compensation	0.9%	1.2%	1.1%	1.0%	0.8%	0.8%	0.9%	0.9%	1.0%	1.0%
Expenses Operating Expenses	81.4%	80.4%	143.4%	83.3%	79.2%	77.7%	80.8%	78.0%	75.7%	76.7%
Other Income Expense Operating Income	18.6%	19.6%	-43.4%	16.7%	20.8%	22.3%	19.2%	22.0%	24.3%	23.3%
Other Income Expense Interest Income	0.9%	1.8%	1.0%	0.2%	0.1%	0.1%	0.2%	0.2%	0.2%	0.1%
Other Income Expense Interest Expense	1.8%	1.9%	3.8%	1.8%	1.4%	1.6%	1.4%	1.1%	1.0%	0.7%
Other Income Expense Other Income/expense	-1.7%	-0.0%	-2.4%	-0.6%	-0.5%	-1.1%	-1.7%	-0.6%	-0.5%	0.1%
Other Income Expense Income Before Tax	16.9%	19.6%	-45.8%	16.1%	20.4%	21.1%	17.8%	21.4%	23.8%	23.4%
Income Tax Income Tax Expense	4.0%	3.3%	-11.6%	0.7%	3.6%	4.2%	3.5%	5.0%	8.5%	6.6%
net Income net Income	13.0%	17.0%	-28.4%	22.1%	16.7%	16.9%	14.1%	16.3%	15.3%	16.8%
net Income Comprehensive Income	15.6%	18.9%	-28.9%	22.4%	19.5%	18.2%	12.9%	16.8%	16.0%	13.8%
Earnings Per Share Basic Eps	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	2.2%	2.2%	2.3%	2.2%	1.6%	1.8%	1.8%	1.8%	1.9%	2.0%
Earnings Per Share Weighted Average Shares Diluted	2.2%	2.2%	2.3%	2.2%	1.7%	1.8%	1.8%	1.8%	1.9%	2.1%

Cash Flow Statement

Operating, investing, and financing flows

18 accounts · 10 years

Operating cash flow $2.3B

Investing cash flow $1.4B

Financing cash flow $-4.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	13.0%	17.0%	-28.4%	22.1%	16.7%	16.9%	14.1%	16.3%	15.3%	16.8%
Operating Activities Depreciation and Amortization	5.2%	5.5%	8.1%	7.0%	5.4%	5.9%	5.0%	4.5%	4.9%	4.9%
Operating Activities Stock Based Compensation	0.9%	1.2%	1.1%	1.0%	0.8%	0.8%	0.9%	0.9%	1.0%	1.0%
Operating Activities Deferred Income Taxes	1.7%	1.3%	-15.7%	-2.5%	-0.5%	-0.5%	-0.8%	-0.2%	0.3%	0.0%
Operating Activities Changes In Operating Assets and Liabilities	0.4%	-0.4%	-1.1%	3.2%	4.4%	0.6%	-2.6%	2.8%	1.3%	0.3%
Operating Activities net Cash From Operating Activities	9.2%	7.4%	27.1%	21.4%	21.1%	25.2%	22.0%	19.7%	19.7%	22.1%
Investing Activities Capital Expenditures	3.6%	4.8%	6.6%	6.7%	4.5%	4.7%	5.3%	4.8%	4.3%	4.7%
Investing Activities Purchases of Investments	5.2%	16.9%	6.0%	4.8%	6.2%	4.9%	5.1%	5.6%	6.8%	4.7%
Investing Activities Other Investing Activities	0.0%	0.0%	-0.1%	-0.0%	-0.1%	-0.0%	-0.2%	-0.0%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	5.4%	-13.0%	-4.9%	-4.0%	-3.7%	-1.8%	-20.1%	0.7%	-9.7%	-4.7%
Financing Activities Repurchase of Common Stock	13.0%	7.3%	0.1%	5.6%	6.2%	1.1%	4.4%	14.9%	6.5%	12.5%
Financing Activities Dividends Paid	6.3%	8.1%	13.5%	12.9%	9.7%	10.5%	10.3%	9.7%	8.9%	8.9%
Financing Activities Other Financing Activities	-0.2%	-0.4%	-0.1%	-0.2%	-0.1%	-0.3%	-0.6%	-0.2%	-0.4%	-0.1%
Financing Activities net Cash From Financing Activities	-16.1%	4.5%	-12.8%	-20.5%	-17.4%	-16.5%	-3.5%	-20.5%	-8.4%	-15.4%
Cash Reconciliation Effect of Exchange Rate On Cash	21.0%	22.8%	24.1%	14.0%	12.9%	0.1%	-0.0%	-0.5%	0.5%	-0.1%
Cash Reconciliation net Change In Cash	-1.5%	-1.4%	9.3%	-3.5%	-0.2%	7.1%	-1.6%	-0.6%	2.1%	2.0%
Cash Reconciliation Cash At Beginning of Period	21.0%	22.8%	24.1%	14.0%	12.9%	—	—	8.7%	9.6%	8.0%
Cash Reconciliation Cash At End of Period	21.0%	22.8%	24.1%	14.0%	12.9%	—	—	8.7%	9.6%	8.0%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+39.9%	+41.2%	+39.1%	+39.4%	+46.8%	+48.4%	+46.7%	+49.1%	+49.3%	+49.8%
Operating margin	+18.6%	+19.6%	-43.4%	+16.7%	+20.8%	+22.3%	+19.2%	+22.0%	+24.3%	+23.3%
Net margin	+13.0%	+17.0%	-28.4%	+22.1%	+16.7%	+16.9%	+14.1%	+16.3%	+15.3%	+16.8%
FCF margin	+5.6%	+2.6%	+20.6%	+14.7%	+16.5%	+20.5%	+16.7%	+14.8%	+15.4%	+17.4%
Growth
Revenue CAGR (3y)	-1.6%	-11.4%	-8.6%	-6.6%	+2.6%	+0.6%	+2.2%	+2.7%	-0.2%	-0.8%
Returns
ROE	+69.1%	+108.6%	-145.5%	+39.2%	+39.4%	+42.3%	+44.9%	+54.6%	+42.0%	+49.0%
ROA	+8.6%	+10.5%	-13.8%	+12.4%	+12.6%	+11.5%	+10.1%	+14.7%	+12.8%	+15.3%
ROIC	+29.2%	+30.4%	-74.9%	+14.4%	+20.8%	+20.7%	+16.6%	+24.7%	+21.1%	+24.8%
Liquidity
Current ratio	1.71x	1.41x	1.07x	1.54x	1.70x	1.89x	1.41x	1.89x	1.86x	1.89x
Quick ratio	0.91x	0.78x	0.70x	0.86x	1.02x	1.18x	0.77x	1.09x	1.04x	1.09x
Leverage
D/E	7.02x	9.36x	9.51x	2.15x	2.12x	2.67x	3.43x	2.72x	2.28x	2.19x
Interest coverage	10.33x	10.22x	-11.35x	9.46x	15.10x	13.54x	13.78x	20.59x	23.89x	35.31x
Efficiency
Asset turnover	0.66x	0.62x	0.49x	0.56x	0.75x	0.68x	0.72x	0.90x	0.83x	0.92x
Cash conversion cycle	+75d	+74d	+109d	+114d	+87d	+90d	+95d	+102d	+104d	+92d

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