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Jan 20, 2026 8:01 AM

3M Reports Fourth-Quarter and Full-Year 2025 Results; Initiates Full-Year 2026 Financial Guidance

Q4 GAAP sales of $6.1 billion, up 2.1%; operating margin of 13.0%, down 510 bps; EPS of $1.07, down 20%, all YoY

Adjusted sales of $6.0 billion with organic growth of 2.2% YoY

Adjusted operating margin of 21.1%, up 140 bps YoY

Adjusted EPS of $1.83, up 9% YoY

Q4 operating cash flow of $1.6 billion with adjusted free cash flow of $1.3 billion

Full-year GAAP sales of $24.9 billion, up 1.5%; operating margin of 18.6%, down 100 bps; EPS of $6.00, down 17%, all YoY

Adjusted sales of $24.3 billion with organic growth of 2.1% YoY

Adjusted operating margin of 23.4%, up 200 bps YoY

Adjusted EPS of $8.06, up 10% YoY

Full-year operating cash flow of $2.3 billion with adjusted free cash flow of $4.4 billion

ST. PAUL, Minn., Jan. 20, 2026 /PRNewswire/ -- 3M (NYSE:MMM) today reported fourth-quarter and full-year 2025 results.

"2025 was an important year for 3M as we build a strong foundation that is reshaping our operating model and driving sustainable value creation," said William Brown, 3M Chairman and CEO. "I want to thank the team for their dedication to eXcellence, which helped us finish 2025 with growth above macro, strong margin expansion, double-digit earnings growth, and solid cash conversion. Our accelerated pace of innovation and commercial execution positions us to outperform the macro environment again in 2026. Our continued operating rigor supports further margin expansion and earnings growth, putting us on a clear path to meet or exceed the 2027 financial commitments we outlined at our Investor Day last year."

Fourth-quarter highlights:

Q4 2025

Q4 2024

GAAP EPS from continuing operations (GAAP EPS)

$          1.07

$          1.33

Special items:

  Net costs for significant litigation

0.56

(0.07)

  (Increase) decrease in value of Solventum ownership

(0.30)

0.24

  Pension risk transfer charge



0.02

  Manufactured PFAS products

0.39

0.16

  Transformation costs

0.11



Adjusted EPS from continuing operations (adjusted EPS)

$          1.83

$          1.68

Memo:

GAAP operating income margin

13.0 %

18.1 %

Adjusted operating income margin

21.1 %

19.7 %

GAAP EPS of $1.07 and operating margin of 13.0%.

Adjusted EPS of $1.83, up 9% year-on-year.

Adjusted operating income margin of 21.1%, an increase of 140 basis points year-on-year.

GAAP

Adjusted (non-GAAP)

Net sales (billions)

$6.1

$6.0

Sales change