3M Company, founded in 1902, is a diversified technology conglomerate known for its innovative products such as Scotch™ Tape, Post-it® Notes, and 3M™ Littmann stethoscopes. It operates across healthcare, industrial, consumer, and safety markets with significant global revenue streams supported by robust R&D investments. Under CEO Michael Roman’s leadership since 2018, the company holds a strong market position and is actively pursuing digital and sustainable growth initiatives.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
24,948,000
24,575,000
24,610,000
26,161,000
Cost of Sales
14,991,000
14,447,000
14,983,000
15,853,000
Gross Profit
9,957,000
10,128,000
9,627,000
10,308,000
Selling, General & Administrative Expenses
3,997,000
4,221,000
19,198,000
7,232,000
Research & Development Expenses
1,169,000
1,085,000
1,154,000
1,160,000
Other Operating Expenses
162,000
—
(36,000)
(2,453,000)
Operating Profit
4,629,000
4,822,000
(10,689,000)
4,369,000
Non-Operating Income
(416,000)
(3,000)
(582,000)
(165,000)
Total Non-Operating Income
(416,000)
(3,000)
(582,000)
(165,000)
Income Before Provision for Income Taxes
4,213,000
4,819,000
(11,271,000)
4,204,000
Provision for Income Taxes
1,003,000
804,000
(2,867,000)
188,000
Consolidated Net Income
3,210,000
4,015,000
(8,404,000)
4,016,000
Net Income Attributable to Minority Interests and Other
(40,000)
6,000
(2,000)
3,000
Net Income Attributable to Discontinued Operations
—
164,000
1,407,000
1,764,000
Net Income Attributable to Common Shareholders
3,250,000
4,173,000
(6,995,000)
5,777,000
Basic EPS
6.05
7.58
-12.63
10.21
Diluted EPS
6.00
7.55
-12.63
10.18
Basic Weighted Average Shares Outstanding
537,400
550,800
553,900
566,000
Diluted Weighted Average Shares Outstanding
541,300
552,400
553,900
567,600
Shares Outstanding
530,279
539,470
552,581
549,245
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
5,235,000
5,600,000
5,735,000
3,655,000
Short-Term Investments
698,000
2,128,000
50,000
238,000
Total Cash and Cash Equivalents
5,933,000
7,728,000
5,785,000
3,893,000
Accounts Receivable
3,533,000
3,194,000
3,601,000
4,532,000
Total Trade Receivables
3,533,000
3,194,000
3,601,000
4,532,000
Inventories
3,661,000
3,698,000
3,944,000
5,372,000
Other Current Assets
3,260,000
1,264,000
3,049,000
891,000
Total Current Assets
16,387,000
15,884,000
16,379,000
14,688,000
Net Property, Plant & Equipment
7,101,000
7,388,000
8,347,000
10,007,000
Net Intangible Assets
1,103,000
1,210,000
1,323,000
4,699,000
Goodwill
6,419,000
6,281,000
6,382,000
12,790,000
Other Long-Term Assets
6,723,000
9,105,000
18,149,000
4,271,000
Total Assets
37,733,000
39,868,000
50,580,000
46,455,000
Accounts Payable
2,702,000
2,660,000
2,776,000
3,183,000
Accrued Expenses
718,000
712,000
999,000
951,000
Short-Term Debt
1,670,000
1,919,000
2,947,000
1,938,000
Current Portion of Leases
—
—
192,000
261,000
Other Current Liabilities
4,505,000
5,965,000
8,383,000
3,190,000
Total Current Liabilities
9,595,000
11,256,000
15,297,000
9,523,000
Long-Term Debt
10,932,000
11,125,000
13,088,000
14,001,000
Leases
—
—
464,000
580,000
Other Long-Term Liabilities
12,459,000
13,593,000
16,863,000
7,581,000
Total Long-Term Liabilities
23,391,000
24,718,000
30,415,000
22,162,000
Total Liabilities
32,986,000
35,974,000
45,712,000
31,685,000
Common Stock
9,000
9,000
9,000
9,000
Treasury Stock
(35,936,000)
(34,462,000)
(32,859,000)
(33,255,000)
Additional Paid-in Capital
7,440,000
7,229,000
6,956,000
6,691,000
Accumulated Other Comprehensive Income
(5,069,000)
(5,731,000)
(6,778,000)
(6,673,000)
Retained Earnings
38,258,000
36,797,000
37,479,000
47,950,000
Total Common Shareholders' Equity
4,702,000
3,842,000
4,807,000
14,722,000
Minority Interests and Other
45,000
52,000
61,000
48,000
Total Shareholders' Equity
4,747,000
3,894,000
4,868,000
14,770,000
Total Liabilities and Shareholders' Equity
37,733,000
39,868,000
50,580,000
46,455,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
3,262,000
4,188,000
(6,979,000)
5,791,000
Depreciation & Amortization
1,308,000
1,363,000
1,987,000
1,831,000
Share-Based Compensation Expense
225,000
289,000
274,000
263,000
Other Adjustments
707,000
1,203,000
(3,898,000)
(2,478,000)
Changes in Trade Receivables
(211,000)
114,000
(170,000)
(105,000)
Changes in Inventories
139,000
41,000
567,000
(629,000)
Changes in Accounts Payable
21,000
46,000
138,000
111,000
Changes in Income Taxes Payable
—
—
—
(47,000)
Changes in Other Operating Activities
(3,145,000)
(5,424,000)
14,761,000
854,000
Cash from Operating Activities
2,306,000
1,819,000
6,680,000
5,591,000
Capital Expenditure
(910,000)
(1,181,000)
(1,615,000)
(1,749,000)
Proceeds from Sale of Property, Plant & Equipment
95,000
61,000
119,000
200,000
Purchases of Investments
(1,305,000)
(4,153,000)
(1,466,000)
(1,250,000)
Proceeds from Sale of Investments
3,468,000
2,074,000
1,660,000
1,261,000
Proceeds from Business Divestments
—
5,000
60,000
13,000
Other Investing Activities
(3,000)
(7,000)
35,000
479,000
Cash from Investing Activities
1,350,000
(3,206,000)
(1,207,000)
(1,046,000)
Issuance of Short-Term Debt
—
(205,000)
205,000
340,000
Net Issuance / (Repayments) of Short-Term Debt
—
(205,000)
205,000
340,000
Issuance of Long-Term Debt
1,099,000
8,367,000
2,835,000
1,000
Repayments of Long-Term Debt
(1,815,000)
(2,656,000)
(3,086,000)
(1,179,000)
Net Issuance / (Repayments) of Long-Term Debt
(716,000)
5,711,000
(251,000)
(1,178,000)
Issuance of Common Shares
1,562,000
92,000
264,000
381,000
Repurchases of Common Shares
(3,251,000)
(1,801,000)
(33,000)
(1,464,000)
Net Issuance / (Repurchases) of Common Shares
(1,689,000)
(1,709,000)
231,000
(1,083,000)
Common Share Dividends Paid
(1,562,000)
(1,982,000)
(3,311,000)
(3,369,000)
Other Financing Activities
(49,000)
(922,000)
184,000
280,000
Cash from Financing Activities
(4,016,000)
1,098,000
(3,147,000)
(5,350,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
41,000
(44,000)
(48,000)
(104,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash