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Held by 2,051 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $164.71 today, the market must believe free cash flow compounds 17.9%/yr for a decade (off $2.4B normalized FCF).
The market's 17.9% is more optimistic than its 9-yr track record.
2-stage DCF · 0.53B shares · net debt $12.6B
mean 4.9% · volatility σ 55% · implied rate exceeded in 3/9 yrs
Central path = implied 17.9%/yr growth; shaded band = ±1σ (55%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend exceeds free cash flow (112%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $1.6B dividends + $3.3B buybacks = $4.8B returned on $1.4B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 19%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
$1.7B of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2025-09-30 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~7.5% on $12.6B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.95B 100.0% | $24.57B 100.0% | $24.61B 100.0% | $26.16B 100.0% | $35.35B 100.0% | $32.18B 100.0% | $32.14B 100.0% | $32.77B 100.0% | $31.66B 100.0% | $30.11B 100.0% |
| Cost of Revenue | $14.99B 60.1% | $14.45B 58.8% | $14.98B 60.9% | $15.85B 60.6% | $18.80B 53.2% | $16.61B 51.6% | $17.14B 53.3% | $16.68B 50.9% | $16.05B 50.7% | $15.12B 50.2% |
| Research & Development | — | $700.0M 2.8% | $700.0M 2.8% | $800.0M 3.1% | $1.20B 3.4% | $1.10B 3.4% | $1.25B 3.9% | $1.25B 3.8% | $1.35B 4.3% | $1.25B 4.1% |
| Selling, General & Admin | $4.00B 16.0% | $4.22B 17.2% | $19.20B 78.0% | $7.23B 27.6% | $7.20B 20.4% | $6.93B 21.5% | $7.03B 21.9% | $7.60B 23.2% | $6.63B 20.9% | $6.31B 21.0% |
| Total Operating Expenses | $20.32B 81.4% | $19.75B 80.4% | $35.30B 143.4% | $21.79B 83.3% | $27.99B 79.2% | $25.02B 77.7% | $25.96B 80.8% | $25.56B 78.0% | $23.96B 75.7% | $23.08B 76.7% |
| Operating Income | $4.63B 18.6% | $4.82B 19.6% | -$10.69B -43.4% | $4.37B 16.7% | $7.37B 20.8% | $7.16B 22.3% | $6.17B 19.2% | $7.21B 22.0% | $7.69B 24.3% | $7.03B 23.3% |
| Interest Expense | $946.0M 3.8% | $1.19B 4.8% | $942.0M 3.8% | $462.0M 1.8% | $488.0M 1.4% | $529.0M 1.6% | $448.0M 1.4% | $350.0M 1.1% | $322.0M 1.0% | $199.0M 0.7% |
| Interest & Investment Income | — | — | — | — | — | — | — | — | — | $29.0M 0.1% |
| Other Income (Expense), net | -$416.0M -1.7% | -$3.0M -0.0% | -$582.0M -2.4% | -$165.0M -0.6% | -$165.0M -0.5% | -$366.0M -1.1% | -$531.0M -1.7% | -$207.0M -0.6% | -$144.0M -0.5% | $26.0M 0.1% |
| Pretax Income | $4.21B 16.9% | $4.82B 19.6% | -$11.27B -45.8% | $4.20B 16.1% | $7.20B 20.4% | $6.79B 21.1% | $5.71B 17.8% | $7.00B 21.4% | $7.55B 23.8% | $7.05B 23.4% |
| Income Tax Expense | $1.00B 4.0% | $804.0M 3.3% | -$2.87B -11.6% | $188.0M 0.7% | $1.28B 3.6% | $1.34B 4.2% | $1.11B 3.5% | $1.64B 5.0% | $2.68B 8.5% | $2.00B 6.6% |
| Net Income | $3.25B 13.0% | $4.17B 17.0% | -$7.00B -28.4% | $5.78B 22.1% | $5.92B 16.7% | $5.45B 16.9% | $4.52B 14.1% | $5.35B 16.3% | $4.86B 15.3% | $5.05B 16.8% |
| Per Share | ||||||||||
| EPS (Basic) | $6.05 | $7.58 | $-12.63 | $10.21 | $10.23 | $9.43 | $7.83 | $9.09 | $8.13 | $8.35 |
| EPS (Diluted) | $6.00 | $7.55 | $-12.63 | $10.18 | $10.12 | $9.36 | $7.72 | $8.89 | $7.93 | $8.16 |
| Weighted Avg Shares (Basic) | 537.4M | 550.8M | 553.9M | 566.0M | 579.0M | 577.6M | 577.0M | 588.5M | 597.5M | 604.7M |
| Weighted Avg Shares (Diluted) | 541.3M | 552.4M | 553.9M | 567.6M | 585.3M | 582.2M | 585.1M | 602.0M | 612.7M | 618.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 100th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 50.9 | 53.3 | 51.6 | 53.2 | 60.6 | 60.9 | 58.8 | 60.1 |
| R&D | 3.8 | 3.9 | 3.4 | 3.4 | 3.1 | 2.8 | 2.8 | — |
| SG&A | 23.2 | 21.9 | 21.5 | 20.4 | 27.6 | 78.0 | 17.2 | 16.0 |
| Operating Income | 22.0 | 19.2 | 22.3 | 20.8 | 16.7 | -43.4 | 19.6 | 18.6 |
| Income Tax | 5.0 | 3.5 | 4.2 | 3.6 | 0.7 | -11.6 | 3.3 | 4.0 |
| Net Income | 16.3 | 14.1 | 16.9 | 16.7 | 22.1 | -28.4 | 17.0 | 13.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MMM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 651 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTM | $29.49T | — | — | — | — | — | — | — | — | — | 160 |
| CAT | $371.6B | 42.5× | 29.7× | 5.5× | 4.3% | 33.8% | 13.1% | 41.7% | 15.4% | 2.7× | 3,616 |
| GE | $328.8B | 38.5× | — | 7.2× | 18.5% | — | 19.0% | 46.6% | 22.2% | — | 3,077 |
| RTX | $259.8B | 39.0× | 18.5× | 2.9× | 9.7% | — | 7.6% | 10.3% | 10.3% | 0.0× | 3,277 |
| BA | $199.4B | 79.4× | 40.2× | 2.2× | 34.5% | 4.8% | 2.5% | 41.0% | 3.3% | 10.0× | 2,435 |
| DE | $185.4B | 37.1× | — | 4.1× | -11.7% | — | 11.0% | 19.4% | 12.6% | — | 2,491 |
| ABBNY | $177.4B | 47.9× | 31.6× | 5.5× | 9.5% | 34.8% | 11.9% | 28.5% | 20.4% | 0.9× | 48 |
| UNP | $167.6B | 23.6× | 16.1× | 6.8× | 1.1% | — | 29.1% | 38.7% | 14.2% | 2.6× | 2,648 |
| ETN | $158.8B | 39.2× | — | 5.8× | 10.3% | 37.6% | 14.9% | 21.0% | 13.9% | — | 2,398 |
| HON | $131.2B | 28.1× | 16.1× | 3.5× | 7.8% | 36.9% | 12.6% | 34.0% | 9.8% | 3.6× | 2,694 |
| LMT | $123.2B | 25.0× | 16.1× | 1.6× | 5.6% | 10.2% | 6.7% | 74.6% | 17.7% | 2.5× | 2,807 |
| PH | $118.7B | 34.1× | 26.8× | 6.0× | -0.4% | 36.9% | 17.8% | 25.8% | 16.7% | 1.6× | 1,845 |
| ADP | $108.3B | 24.9× | — | 4.9× | 6.7% | 46.4% | 20.1% | 73.2% | 40.1% | — | 2,179 |
| GD | $96.2B | 23.0× | 16.9× | 1.8× | 10.1% | — | 8.0% | 16.4% | 12.5% | 1.3× | 2,123 |
| TT | $94.4B | 32.6× | 23.3× | 4.4× | 7.5% | — | 13.7% | 34.0% | 22.1% | 1.1× | 1,658 |
| VRT | $92.4B | 70.8× | 43.8× | 9.0× | 27.7% | 36.3% | 13.0% | 33.8% | 19.4% | 1.4× | 1,748 |
| PWR | $92.2B | 90.7× | 45.8× | 3.2× | 20.3% | 15.0% | 3.6% | 11.5% | 10.6% | 0.4× | 1,659 |
| JCI | $91.9B | 28.0× | — | 3.9× | 2.8% | 36.4% | 13.9% | 25.5% | 14.4% | — | 1,487 |
| HWM | $90.7B | 60.9× | 39.9× | 11.0× | 11.1% | — | 18.3% | 28.2% | 17.9% | 1.3× | 1,399 |
| CSX | $89.1B | 31.1× | 14.4× | 6.3× | -3.1% | — | 20.5% | 22.0% | 22.0% | — | 1,791 |
| MMM | $87.3B | 27.4× | 16.8× | 3.5× | 1.5% | 39.9% | 13.0% | 69.1% | 18.8% | 2.1× | 2,051 |
| WM | $86.0B | 31.8× | 12.1× | 3.4× | 14.2% | 40.4% | 10.7% | 27.1% | 25.3% | 0.1× | 2,262 |
| UPS | $85.0B | 15.3× | 9.5× | 1.0× | -2.6% | — | 6.3% | 34.3% | 13.8% | 2.2× | 2,025 |
| EMR | $83.0B | 36.5× | — | 4.6× | 3.0% | 52.8% | 12.7% | 11.3% | 6.9% | — | 2,112 |
| CTAS | $79.8B | 45.0× | 28.7× | 7.7× | 7.7% | 50.0% | 17.5% | 38.7% | 25.5% | 0.8× | 1,366 |
Peers = companies sharing MMM's sector (Industrials) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.