3M is a global materials-science manufacturer serving industrial, transportation, electronics and consumer markets. Its products include adhesives, abrasives, electrical materials, protective equipment and brands such as Scotch, Post-it, Command and Filtrete. It separated its Health Care business as Solventum in April 2024.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000066740-24-000016 | Feb 7, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000066740-25-000006 | Feb 5, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250000066740-26-000014 | Feb 3, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
PFAS means per- and polyfluoroalkyl substances, a group of fluorochemicals associated here with environmental liabilities. Combat Arms refers to discontinued dual-ended earplugs involved in product-liability litigation; 3M says they were safe and effective when properly used, and the settlement does not admit liability or wrongdoing. 3M's continuing businesses have improved adjusted profitability, but legacy liabilities and portfolio changes make headline earnings an incomplete guide to financial progress. In 2025, sales reached $24.948 billion while GAAP operating income declined; industrial strength and productivity were offset by PFAS-exit costs, litigation and weaker businesses. Subsequent 2026 disclosures show stronger Safety and Industrial performance, the completed Madison acquisition and higher adjusted earnings guidance. However, third-quarter operating cash flow fell sharply despite earnings growth, debt increased, and environmental obligations became more concentrated in current liabilities. Ending PFAS manufacturing did not end remediation or litigation. The Amazon relationship offers conditional commercial potential, not guaranteed $6 billion revenue. Comparisons also require care: Solventum changed the business perimeter, and a 2026 non-GAAP definition change raised historical adjusted earnings without changing GAAP results.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-09-30 · EX-99.1 · 2026-10-20 · 8-K · 2026-10-19
3M develops and manufactures products across Safety and Industrial, Transportation and Electronics, and Consumer, selling directly and through distributors, retailers and e-commerce. Most revenue comes from delivering manufactured goods. Approximately 56% of 2025 revenue originated outside the United States. Product innovation, customer specifications, manufacturing productivity and purchasing scale support its economics, while industrial activity, automotive production and discretionary spending influence demand. The April 2024 Solventum separation removed Health Care from continuing revenue, but transition services, supply relationships, retained equity and historical liabilities continued.
Sources: 10-K · 2025-12-31 · 10-K · 2024-12-31
For the year ended December 31, 2025, continuing sales increased 1.5% to $24.948 billion. GAAP operating income declined to $4.629 billion from $4.822 billion, while adjusted operating income under the annual filing's definition increased to $5.693 billion. Safety and Industrial benefited from growth, productivity and lower restructuring costs. Consumer improved profit despite slightly lower sales. Transportation and Electronics suffered larger PFAS manufacturing losses; even excluding PFAS, its margin declined amid automotive weakness, investment and exit-related cost dis-synergies. Organic sales combine price and volume, so reported organic growth does not establish unit-volume growth.
Sources: 10-K · 2025-12-31
2025 operating cash flow increased to $2.306 billion, principally because environmental and Combat Arms payments were lower, although those payments still consumed approximately $3.4 billion. Continuing capital expenditure was $910 million. Gross buybacks of $3.251 billion and dividends of $1.562 billion exceeded operating cash generation; employee share-plan issuances provided $1.562 billion of financing proceeds. Cash ended 2025 at $5.235 billion and borrowing debt at $12.602 billion. Neither borrowing debt nor company-defined net debt captures all settlement and pension obligations. Earlier cash-flow comparisons also include Health Care through separation, unlike retrospectively recast continuing revenue.
Sources: 10-K · 2025-12-31
3M completed PFAS manufacturing exit at the end of 2025, but treatment, remediation, asset disposition and some third-party PFAS use continue. By September 30, 2026, environmental liabilities were $7.5 billion, including $2.8 billion current, versus only $0.7 billion current at year-end. Combat Arms liabilities were $1.1 billion. These are remaining accounting balances, not amounts to add to original settlement commitments. Other claims remain unreserved or unquantifiable. Plant permits can affect continuing non-PFAS production, and insurance is not expected to cover aggregate liabilities fully. Separately, the statutory mine-safety exhibits report 23, 27 and 27 Section 104 significant-and-substantial citations/orders for calendar years 2023, 2024 and 2025, respectively, and five for July 1–September 30, 2026, all five at Little Rock. The quarter is not a nine-month or annual total and does not establish improvement against annual counts. Little Rock also reported four Section 104(d) citations/orders and one Section 107(a) order in 2024; these separate categories must not be added to S&S counts as independent incidents. Proposed MSHA assessments totaled $41,275, $180,680 and $133,972 in those calendar years; the third-quarter 2026 table reports a dash, not a prediction that the five citations/orders will never generate assessments. These are proposed assessments, not established final penalties or cash paid. Little Rock's period-end pending actions, actions initiated during the period and actions resolved during the period were respectively 1/1/1 in 2023, 3/3/1 in 2024 and 0/0/3 in 2025; all three fields are dashes for third-quarter 2026. These stocks and flows do not establish case identity, resolution terms, completed remediation or extinguished future exposure. No mining-related fatalities or pattern/potential-pattern notices were reported for the listed operations in these periods, which does not establish companywide absence of fatalities or violations. Without exposure or inspection denominators, the counts do not establish incident rates or causes of change. Separately from these mining disclosures, a May 2023 employee fatality at Prairie du Chien led to two OSHA citations alleging willful safety violations. A September 2024 OSHA/DOL settlement included an immaterial payment and no finding of willful safety violations, not a determination that no violation occurred. An October 2024 grand-jury subpoena from the U.S. Attorney's Office for the Western District of Wisconsin sought records about the facility and incident, other workplace injuries and OSHA inspections at other facilities. The 2024 and 2025 annuals disclosed cooperation and responsive information; the third-quarter 2026 report states that 3M will continue to cooperate with the investigation, not that it has closed. The supplied disclosures do not establish a subsequent disposition, liability determination or potential loss amount.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-09-30 · 10-K · 2024-12-31 · EX-95 · 2023-12-31 · EX-95 · 2024-12-31 · EX-95 · 2025-12-31 · EX-95 · 2026-09-30
The October 20, 2026 filings reported third-quarter sales of $6.584 billion and GAAP diluted EPS of $2.63. Adjusted EPS increased 12% to $2.50, substantially less than the reported 70% GAAP increase, which benefited from Solventum valuation and tax effects and fewer shares. Safety and Industrial led growth; Transportation and Electronics profitability weakened and Consumer shipments remained soft. Quarterly operating cash flow fell to $486 million from $1.756 billion as litigation-payment comparisons reversed. Nine-month adjusted free cash flow was nearly unchanged, despite higher adjusted earnings. Madison closed July 1, adding revenue, debt and partner-related redemption exposure.
Sources: 10-Q · 2026-09-30 · EX-99.1 · 2026-10-20 · EX-99.1 · 2026-07-21
On October 20, management forecast adjusted 2026 sales growth above 4.5%, adjusted organic growth above 3.5% and adjusted EPS of $9.10–$9.15. July's $8.80–$8.95 EPS outlook excluded Madison; October includes the acquisition and newly excludes acquired-intangible amortization. The increase therefore cannot all be attributed to improved operating expectations. Forecast adjusted operating cash flow of approximately $5.9 billion excludes unpredictable special-item effects and is not cash after all legal payments. Separately, Amazon's $6 billion cumulative-payment threshold governs conditional warrant vesting; it is neither guaranteed purchases nor recognized revenue.
Sources: EX-99.1 · 2026-07-21 · EX-99.1 · 2026-10-20 · 8-K · 2026-10-19
USD 24.948 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency · operations: continuing
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 24.948 bn | 1.5% |
| 2024 | USD 24.575 bn | -0.1% |
| 2023 | USD 24.61 bn | — |
Consolidated net sales from continuing operations; excludes discontinued Solventum operations.
Sources: 10-K · 2025-12-31
USD -6.995 bn
FY2023 · GAAP · consolidated · Attribution: parent · Reported currency · operations: continuing_and_discontinued
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD -6.995 bn | — |
Parent-attributable net income or loss, including continuing and discontinued operations and excluding noncontrolling interests.
Sources: 10-K · 2025-12-31
USD 3.25 bn
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency · operations: continuing_and_discontinued
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 3.25 bn | -22.1% |
| 2024 | USD 4.173 bn | — |
Parent-attributable net income or loss, including continuing and discontinued operations and excluding noncontrolling interests.
Sources: 10-K · 2025-12-31
USD 6.68 bn
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency · operations: continuing_and_discontinued_as_reported
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 6.68 bn | — |
Reported consolidated operating cash flow; includes discontinued Health Care operations subsequently separated as Solventum.
Sources: 10-K · 2025-12-31
USD 1.819 bn
FY2024 · GAAP · consolidated · Attribution: consolidated · Reported currency · operations: continuing_and_discontinued_as_reported
| Fiscal year | Value | YoY |
|---|---|---|
| 2024 | USD 1.819 bn | — |
Reported consolidated operating cash flow; includes discontinued Solventum operations through April 1, 2024 separation.
Sources: 10-K · 2025-12-31
USD 2.306 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency · operations: continuing_and_discontinued_as_reported
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 2.306 bn | — |
Reported consolidated operating cash flow; comparative statements include discontinued Solventum operations through separation.
Sources: 10-K · 2025-12-31
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