The 3M net worth has been a topic of interest for financial enthusiasts worldwide.
At Ando Money, we bring you an accurate and insightful analysis of 3M’s financial standing, including its market cap and performance for 2024.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | 3M |
| Full Name | Minnesota Mining and Manufacturing Company |
| Traded as | NYSE: MMM |
| ISIN | N/A |
| Founded | N/A |
| Founders | N/A |
| Country/Territory | United States |
| Headquarters | N/A |
| Chief Executive Officer | William Brown |
| Number of Employees | N/A |
| Market Cap | $75.61 Billion (2024) |
| Total Assets | N/A |
| Total Equity | N/A |
| Revenue | $30.58 Billion |
| Net Income | $0.79 Billion |
What is the Net Worth/Market Cap Of 3M in 2024?
3M’s market cap in 2024 is $75.61 billion, reflecting a robust financial status. Compared to other major players, 3M stands among giants, even though its market value fluctuated over the past few years.
The company’s market cap signifies its position in the market, with its value steadily recovering from previous dips. Here’s a quick comparison with some related companies:
- Johnson & Johnson
- Honeywell
- General Electric
- Procter & Gamble
- Dow Inc.
- DuPont
- Siemens AG
- BASF
- IBM
- Philips
To see how 3M fares among the world’s top enterprises, check out the list of the world’s wealthiest companies.
Financial Performance Overview
Revenue and Growth in 2024
In 2024, 3M achieved a revenue of $30.58 billion. This demonstrates consistent growth, though there have been slight variations year-on-year.
The adjusted revenue is $6.0 billion for the second quarter, with a notable organic growth of 1.2% YoY.
These numbers reflect 3M’s steady financial foundation and capacity for organic sales growth.
Earnings Per Share (EPS)
The GAAP EPS from continuing operations in Q2 2024 was $2.17, marking a 117% increase YoY. Meanwhile, the adjusted EPS stood at $1.93, up by 39% YoY. These figures underscore the company’s improved profitability and operational efficiency over the period.
Operating Cash Flow and Free Cash Flow
3M reported an operating cash flow of $1.0 billion and an adjusted free cash flow of $1.2 billion in Q2 2024.
The strong cash position enhances 3M’s ability to pursue its strategies of growth, expansion, and shareholder value through dividends and share repurchases.
Market Capitalization Growth
3M’s market cap, as of 2024, is $75.61 billion. This is a significant rise of 25.24% from the previous year, reflecting investor confidence and an upward trend in valuation.
Historically, the company’s market cap had experienced a dip to $60.37 billion in 2023, yet it bounced back in 2024, marking an impressive recovery.
Adjusted Financial Performance and Guidance
The company has adjusted its financial outlook for 2024, with an adjusted EPS forecasted between $7.00 to $7.30.
The guidance revision is attributed to strong operational performance and strategic capital deployment aimed at sustained growth.
3M’s financial roadmap is set on driving organic sales growth, enhancing operational performance, and maintaining capital discipline.
Shareholder Value
3M has returned approximately $786 million to its shareholders through dividends and share buybacks in Q2 2024 alone.
Such capital returns underscore the company’s commitment to rewarding its investors while maintaining a solid financial footing for future opportunities.
Net Income and Margins
The net income reported in 2024 stands at $0.79 billion, with an adjusted operating income margin of 21.6% for the quarter.
This showcases efficient cost management and operational execution, contributing to overall profitability.
FAQs About 3M Company
How Has 3M’s Market Cap Changed Over the Years?
3M’s market cap has shown variations, with a significant dip in 2023 to $60.37 billion. However, by 2024, it rose to $75.61 billion, reflecting strong recovery and growth prospects.
What Is 3M’s Revenue in 2024?
3M’s current trailing twelve-month revenue is $30.58 billion, with adjusted Q2 2024 sales reaching $6.0 billion and organic growth of 1.2% YoY.
What Are the Key Financial Highlights of Q2 2024 for 3M?
In Q2 2024, 3M reported a GAAP EPS of $2.17 (a 117% YoY increase), adjusted EPS of $1.93 (up 39% YoY), and an operating cash flow of $1.0 billion.
Conclusion
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