Stock Analysis on Net

3M Co. (NYSE:MMM)

This company has been moved to the archive! The financial data has not been updated since October 25, 2022.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

3M Co., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net income attributable to 3M 5,921 5,384 4,570 5,349 4,858
Net income attributable to noncontrolling interest 8 4 12 14 11
Net noncash charges 2,276 2,267 1,685 1,348 1,012
Changes in assets and liabilities (751) 458 803 (272) 359
Net cash provided by operating activities 7,454 8,113 7,070 6,439 6,240
Purchases of property, plant and equipment (PP&E) (1,603) (1,501) (1,699) (1,577) (1,373)
Change in short-term debt, net (2) (143) (316) (284) 578
Repayment of debt, maturities greater than 90 days (1,144) (3,482) (2,716) (1,034) (962)
Proceeds from debt, maturities greater than 90 days 1 1,750 6,281 2,251 1,987
Free cash flow to equity (FCFE) 4,706 4,737 8,620 5,795 6,470

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to 3M Co. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. 3M Co. FCFE decreased from 2019 to 2020 and from 2020 to 2021.

Price to FCFE Ratio, Current

3M Co., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 552,742,915
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 4,706
FCFE per share 8.51
Current share price (P) 118.50
Valuation Ratio
P/FCFE 13.92
Benchmarks
P/FCFE, Competitors1
Boeing Co.
Caterpillar Inc. 16.49
Eaton Corp. plc 41.52
GE Aerospace 291.86
Honeywell International Inc. 29.92
Lockheed Martin Corp. 15.67
RTX Corp. 9.13

Based on: 10-K (reporting date: 2021-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

3M Co., historical P/FCFE calculation, comparison to benchmarks

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
No. shares of common stock outstanding1 571,100,000 579,100,000 575,600,000 575,800,000 595,500,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 4,706 4,737 8,620 5,795 6,470
FCFE per share3 8.24 8.18 14.98 10.06 10.86
Share price1, 4 163.64 177.10 162.89 199.84 222.89
Valuation Ratio
P/FCFE5 19.86 21.65 10.88 19.86 20.51
Benchmarks
P/FCFE, Competitors6
Boeing Co. 6.78 19.60
Caterpillar Inc. 16.36 25.22 11.07
Eaton Corp. plc 24.43 25.59 11.12
GE Aerospace
Honeywell International Inc. 46.23 12.59 21.75
Lockheed Martin Corp. 14.65 15.57 28.62
RTX Corp. 35.07 28.09
P/FCFE, Sector
Capital Goods 74.91 27.54
P/FCFE, Industry
Industrials 49.40 28.48

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2021 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 4,706,000,000 ÷ 571,100,000 = 8.24

4 Closing price as at the filing date of 3M Co. Annual Report.

5 2021 Calculation
P/FCFE = Share price ÷ FCFE per share
= 163.64 ÷ 8.24 = 19.86

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. 3M Co. P/FCFE ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.