3M (MMM) FY2024 results: revenue $24.6 billion, down 0.1% on the year
3M Co. (MMM) reported revenue of $24.6 billion for fiscal 2024, the year ended 31 December 2024, down 0.1% on the year before. Net income was $4.2 billion, and diluted earnings per share $7.55. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2025.
Revenue
$24.6 billion
-0.1% on the year
FY2017FY2024
Operating margin
19.6%
-43.4% a year earlier
FY2017FY2024
Net income
$4.2 billion
FY2017FY2024
Diluted EPS
$7.55
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,819
6,680
5,591
-72.8%
Capital expenditure
1,181
1,615
1,749
-26.9%
Free cash flow
638
5,065
3,842
-87.4%
Free cash flow margin
2.6%
20.6%
14.7%
Cash from investing
-3,206
-1,207
-1,046
Cash from financing
1,098
-3,147
-5,350
Depreciation and amortisation
1,363
1,987
1,831
-31.4%
Share-based compensation
289
274
263
+5.5%
Buybacks
1,801
33.0
1,464
+5,357.6%
Dividends paid
1,982
3,311
3,369
-40.1%
Dividend per share
$3.61
$6.00
$5.96
-39.8%
Diluted shares, weighted
552m
554m
568m
-0.3%
Shares outstanding at period end
539m
553m
549m
-2.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,842
4,807
14,722
-20.1%
Non-controlling interest
52.0
61.0
48.0
-14.8%
Debt
13,044
16,035
15,939
-18.7%
Operating lease liabilities
405
464
580
-12.7%
Finance lease liabilities
47.0
60.0
75.0
-21.7%
Other liabilities
22,478
29,153
15,091
-22.9%
Total liabilities and equity
39,868
50,580
46,455
-21.2%
Fixed assets
7,388
7,690
9,178
-3.9%
Goodwill
6,281
6,382
6,337
-1.6%
Intangible assets
1,210
1,323
4,699
-8.5%
Securities held for sale or to maturity
2,144
70.0
261
+2,962.9%
Cash and equivalents
5,600
5,933
3,655
-5.6%
Receivables
3,194
3,601
4,532
-11.3%
Inventory
3,698
3,944
5,372
-6.2%
Other assets
10,353
21,637
12,421
-52.2%
Total assets
39,868
50,580
46,455
-21.2%
10-K for the year ended 31 December 2024, filed 5 February 2025: the filing.