Question 1

What is 3M's P/E ratio?

Accepted Answer

3M (MMM) P/E ratio is 29.4× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for 3M?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For 3M specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

Is 3M's P/E ratio high or low?

Accepted Answer

3M's P/E ratio of 29.4× is above its own 5-year average of 19.3× and above the sector median of 27.8×. That places the current reading at the 94th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is 3M's historical P/E ratio range?

Accepted Answer

In the available daily series, 3M (MMM) P/E ratio has ranged from a low of 7.9× in 2023 to a high of 82.0× in 2024. The 5-year average is 19.3× and the 5-year median is 16.5×.

Question 7

What was 3M's P/E ratio in 2025?

Accepted Answer

3M (MMM) P/E ratio at the end of 2025 was 26.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does 3M's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$85.54B	$3.25B	26.3×	+9.5×	Dec 31, 2025
2024	$70.17B	$4.17B	16.8×	—	Dec 31, 2024
2023	$50.70B	−$7.00B	—	—	Dec 31, 2023
2022	$55.33B	$5.78B	9.6×	-4.8×	Dec 31, 2022
2021	$85.38B	$5.92B	14.4×	-1.1×	Dec 31, 2021
2020	$84.57B	$5.45B	15.5×	-3.1×	Dec 31, 2020
2019	$85.00B	$4.57B	18.6×	+1.3×	Dec 31, 2019
2018	$92.51B	$5.35B	17.3×	-6.9×	Dec 31, 2018
2017	$117.39B	$4.86B	24.2×	+6.4×	Dec 31, 2017
2016	$89.61B	$5.05B	17.7×	+1.7×	Dec 31, 2016
2015	$77.40B	$4.83B	16.0×	-1.7×	Dec 31, 2015
2014	$87.63B	$4.96B	17.7×	+0.9×	Dec 31, 2014
2013	$78.39B	$4.66B	16.8×	+4.7×	Dec 31, 2013
2012	$53.68B	$4.44B	12.1×	+1.0×	Dec 31, 2012
2011	$47.61B	$4.28B	11.1×	-1.5×	Dec 31, 2011
2010	$51.33B	$4.08B	12.6×	-2.8×	Dec 31, 2010
2009	$49.00B	$3.19B	15.3×	+5.7×	Dec 31, 2009
2008	$33.34B	$3.46B	9.6×	-2.5×	Dec 31, 2008
2007	$49.81B	$4.10B	12.2×	-0.2×	Dec 31, 2007
2006	$47.52B	$3.85B	12.3×	-2.9×	Dec 31, 2006
2005	$48.89B	$3.20B	15.3×	-2.4×	Dec 31, 2005
2004	$52.95B	$2.99B	17.7×	-5.5×	Dec 31, 2004
2003	$55.66B	$2.40B	23.2×	+2.8×	Dec 31, 2003
2002	$40.20B	$1.97B	20.4×	-6.6×	Dec 31, 2002
2001	$38.54B	$1.43B	26.9×	—	Dec 31, 2001


Lennox International (LII)	20.6×
Paychex (PAYX)	20.6×
Copart (CPRT)	20.4×
Otis Worldwide (OTIS)	20.2×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Carlisle Companies (CSL)	18.8×
Automatic Data Processing (ADP)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
United Rentals (URI)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
A. O. Smith (AOS)	17.4×
FedEx (FDX)	16.9×
Textron (TXT)	16.6×
United Parcel Service (UPS)	15.9×
ABM Industries (ABM)	15.2×
Gartner (IT)	14.9×
AGCO (AGCO)	10.9×
Delta Air Lines (DAL)	9.7×
United Airlines Holdings (UAL)	8.2×
Versant Media Group, Inc. Class A (VSNT)	6.3×

P/E Ratio for 3M (MMM)

P/E Ratio daily chart for 3M (MMM)

Historical P/E Ratio for 3M (MMM) from 2001 to 2025

About P/E Ratio at 3M (MMM)

3M P/E Ratio by Year

3M P/E Ratio 2025: 26.3×

3M P/E Ratio 2024: 16.8×

3M P/E Ratio 2022: 9.6×

3M P/E Ratio 2021: 14.4×

3M P/E Ratio 2020: 15.5×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

3M (MMM) Key Financials

P/E Ratio daily chart for 3M (MMM)

Historical P/E Ratio for 3M (MMM) from 2001 to 2025

About P/E Ratio at 3M (MMM)

3M P/E Ratio by Year

3M P/E Ratio 2025: 26.3×

3M P/E Ratio 2024: 16.8×

3M P/E Ratio 2022: 9.6×

3M P/E Ratio 2021: 14.4×

3M P/E Ratio 2020: 15.5×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is 3M's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for 3M?

+Is 3M's P/E ratio high or low?

+What is 3M's historical P/E ratio range?

+What was 3M's P/E ratio in 2025?

+Why does 3M's P/E ratio change over time?

3M (MMM) Key Financials