How much cash on hand does 3M have?
Cash on Hand as of December 2023 : $5.98 B
3M Balance Sheet Health
3M has a total shareholder equity of $4.9B and total debt of $16.1B, which brings its debt-to-equity ratio to 331.2%. Its total assets and total liabilities are $50.6B and $45.7B respectively. 3M's EBIT is $5.9B making its interest coverage ratio 8.5.
Total assets on the balance sheet as of December 2023 : $50.58 B. According to 3M's latest financial reports the company's total assets are $50.58 B. A company's total assets is the sum of all current and non-current assets, such as inventories, cash and cash equivalents, properties and equipment.
Total debt on the balance sheet as of December 2023 : $16.85 B. According to 3M's latest financial reports the company's total debt is $16.85 B. A company's total debt is the sum of all current and non-current debts.
3M Company Market Cap
3M Company has a market cap or net worth of $51.26 billion as of April 10, 2024. Its market cap has decreased by -11.42% in one year.
3M Financial Overview
The company's EPS TTM is $-12.628; its P/E ratio is -7.28; and it has a dividend yield of 6.60%. 3M is scheduled to report earnings on April 30, 2024, and the estimated EPS forecast is $1.99.
There are near-term risks associated with 3M stock. Firstly, challenging macroeconomic factors, falling sales, weak consumer demand environment, and a potential recession could adversely impact the company's business. The company is focused on restructuring, and that's going to take some time to complete.
The Vanguard Group
It's one of the world's largest investment companies. It's currently the largest individual 3M shareholder, owning 47.65 million shares, representing 8.37% of the company, according to ownership data from 3M.
3M annual gross profit for 2023 was $14.204B, a 5.29% decline from 2022. 3M annual gross profit for 2022 was $14.997B, a 9.44% decline from 2021. 3M annual gross profit for 2021 was $16.56B, a 6.3% increase from 2020.
3M annual revenue for 2023 was $32.681B, a 4.52% decline from 2022. 3M annual revenue for 2022 was $34.229B, a 3.18% decline from 2021. 3M annual revenue for 2021 was $35.355B, a 9.85% increase from 2020.
Where does 3M make the most money?
3M manufactures and distributes a broad range of products, from building materials and adhesives to medical and home cleaning supplies. The company's Safety and Industrial segment generates the most sales and profits.
The Vanguard Group, Inc., owns 3M.
The company is the largest stakeholder in several companies that are stockholders of 3M.
Their success is rooted in a well-structured strategy that promotes employee engagement, fosters a culture of risk-taking, and embraces collaboration. This innovation-focused approach is crucial for sustaining growth and market relevance. 1. Corporate Culture: 3M's culture and structure foster innovation.
3M's CEOs have included: Cross (1966–1970), Heltzer (1970–1975), Herzog (1975–1979), Lehr (1979–1986), Jacobson (1986–1991), DeSimone (1991–2001), McNerney (2001–2005), Robert S. Morrison (2005, interim), Buckley (2005–2012), Thulin (2012–2018), and Roman (2018–present).
Solventum originates from two words: "solving" and "momentum." the 3M health care spinoff debuted on the New York Stock Exchange on Monday. Nearly two years after 3M announced plans to spin off its health care business, the new Solventum Corp.
3M is ranked—as of May 5, 2023 — in eighth place among the world's largest conglomerates, close to companies such as Siemens and General Electric. In 2022, the net sales of 3M Company stood at 34.2 billion U.S. dollars.
Sales growth has been a struggle for 3M with China and electronic sales weak. Organic sales growth came in at negative 3.2% for 2023. The 2024 sales forecast, net of any business sales or changes, works out to 2024 revenue of roughly $33 billion, almost $1 billion better than analysts are currently projecting.
2023 revenue declined 3% from 2022. Fortunately, management is guiding for flat to 2% revenue growth this year, so things are stabilizing. Analysts are pretty optimistic as well. The consensus is that 3M will grow earnings between 4% and 7% annually over the next few years.
Based on analyst ratings, 3M's 12-month average price target is $106.33. 3M has 15.66% upside potential, based on the analysts' average price target. 3M has a conensus rating of Hold which is based on 1 buy ratings, 7 hold ratings and 1 sell ratings.
3M has decided to delist from NYSE Arca Inc. to eliminate duplicative administrative requirements and costs inherent with dual listings as a result of the NYSE Group's recent merger with Archipelago Holdings, the parent company of NYSE Arca. The withdrawal is expected to be effective within the next month.
Is 3M dividend at risk?
3M's dividend is at risk due to ongoing lawsuits, high debt levels, slowing free cash flow growth, and a high payout ratio. The company is facing major lawsuits, which puts a strain on its balance sheet.
The symbol for 3M is MMM and it is traded on the NYSE (New York Stock Exchange). Should I buy or sell 3M Stock? 3M holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Neogen Corporation has completed its previously announced merger with 3M's Food Safety business. The aim of the transaction is to forge an innovative leading entity in the food safety sector, with a comprehensive product range and a strategic focus on the category's long-term growth opportunities.
Intrinsic Value. The intrinsic value of one MMM stock under the Base Case scenario is 118.17 USD. Compared to the current market price of 91.05 USD, 3M Co is Undervalued by 23%.
| Holder | Shares | Date Reported |
|---|---|---|
| Vanguard Group Inc | 49.08M | Dec 31, 2023 |
| Blackrock Inc. | 41.87M | Dec 31, 2023 |
| State Street Corporation | 35.82M | Dec 31, 2023 |
| Charles Schwab Investment Management, Inc. | 12.08M | Dec 31, 2023 |
