3M Company (MMM) Income Statement
MMM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMMM revenue and net income
Where MMM's revenue goes
2025Each bar shows an amount and its share of revenue. MMM kept 13.0% of revenue as net income.
MMM profit margins
MMM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.5% | −10.0% | −5.0% | −1.9% |
| Gross profit | −2.1% | −13.0% | −8.8% | −3.9% |
| Operating income | −7.5% | +3.9% | −8.1% | −4.0% |
| Net income | −22.1% | −17.4% | −9.8% | −3.9% |
| EPS (diluted) | +1.0% | −7.2% | −1.6% | +0.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MMM quarterly EPS vs estimates
3M beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 20, 2026 (estimate $2.41).
MMM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.95B | $24.57B | $32.68B | $34.23B | $35.35B | $32.18B | $32.14B | $32.77B | $31.66B | $30.11B |
| Cost of revenue | $15.08B | $14.49B | $18.48B | $19.26B | $18.74B | $16.58B | $16.83B | $16.57B | $15.99B | $15.13B |
| Gross profit | $9.87B | $10.08B | $14.20B | $14.97B | $16.61B | $15.60B | $15.31B | $16.19B | $15.66B | $14.98B |
| Research & development | $1.17B | $1.07B | $1.84B | $1.86B | $1.98B | $1.86B | $1.87B | $1.82B | $1.86B | $1.74B |
| Sales, general & admin | $4.00B | $4.22B | $21.53B | $9.04B | $7.20B | $6.93B | $7.03B | $7.60B | $6.57B | $6.11B |
| Total operating expenses | $5.31B | $5.15B | $23.37B | $10.89B | $9.09B | $8.65B | $8.33B | $8.42B | $8.44B | $7.96B |
| Operating income | $4.56B | $4.93B | −$9.13B | $4.07B | $7.53B | $6.96B | $6.97B | $7.77B | $7.23B | $7.02B |
| Interest income | $312.0M | $452.0M | $253.0M | $395.0M | $26.0M | $29.0M | $80.0M | $70.0M | $50.0M | $29.0M |
| Interest expense | $720.0M | $1.18B | $942.0M | $498.0M | $457.0M | $553.0M | $431.0M | $240.0M | $84.0M | $207.0M |
| Income before taxes | $4.21B | $4.83B | −$9.69B | $6.40B | $7.21B | $6.79B | $5.71B | $7.00B | $7.55B | $7.05B |
| Income taxes | $1.00B | $804.0M | −$2.69B | $612.0M | $1.28B | $1.34B | $1.13B | $1.64B | $2.68B | $2.00B |
| Net income | $3.25B | $4.17B | −$7.00B | $5.78B | $5.92B | $5.45B | $4.57B | $5.35B | $4.86B | $5.05B |
| EBITDA | $6.28B | $7.22B | −$9.13B | $8.72B | $9.58B | $9.26B | $7.74B | $8.73B | $9.18B | $8.73B |
| EPS (diluted) | $8.06 | $7.98 | $9.24 | $10.10 | $10.12 | $8.75 | $8.89 | $9.98 | $9.17 | $8.16 |
| Gross margin | 39.6% | 41.0% | 43.5% | 43.7% | 47.0% | 48.5% | 47.6% | 49.4% | 49.5% | 49.7% |
| Operating margin | 18.3% | 20.1% | −27.9% | 11.9% | 21.3% | 21.6% | 21.7% | 23.7% | 22.8% | 23.3% |
| Net margin | 13.0% | 17.0% | −21.4% | 16.9% | 16.7% | 16.9% | 14.2% | 16.3% | 15.3% | 16.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.50B | $6.03B | $6.13B | $6.52B | $6.34B | $5.95B | $6.01B | $6.29B | $6.25B | $6.02B | $8.01B | $8.31B |
| Cost of revenue | $3.82B | $3.57B | $4.08B | $3.79B | $3.69B | $3.52B | $3.74B | $3.65B | $3.60B | $3.51B | $4.68B | $4.58B |
| Gross profit | $2.68B | $2.46B | $2.06B | $2.73B | $2.65B | $2.44B | $2.27B | $2.64B | $2.66B | $2.51B | $3.33B | $3.73B |
| Research & development | $302.0M | $308.0M | $299.0M | $297.0M | $288.0M | $285.0M | $281.0M | $266.0M | $279.0M | $244.0M | $467.0M | $430.0M |
| Sales, general & admin | $1.06B | $744.0M | $965.0M | $820.0M | $1.26B | $945.0M | $899.0M | $1.06B | $1.13B | $1.74B | $1.59B | $5.99B |
| Total operating expenses | $1.70B | $1.06B | $1.26B | $1.12B | $1.55B | $1.22B | $1.18B | $1.31B | $1.38B | $1.28B | $2.09B | $6.42B |
| Operating income | $984.0M | $1.40B | $794.0M | $1.61B | $1.10B | $1.22B | $1.09B | $1.33B | $1.28B | $1.23B | $1.24B | −$2.65B |
| Interest income | $32.0M | $49.0M | $5.0M | $46.0M | $194.0M | $79.0M | $92.0M | $107.0M | $143.0M | $110.0M | $92.0M | $73.0M |
| Interest expense | $202.0M | $214.0M | $222.0M | $232.0M | $235.0M | $253.0M | $249.0M | $274.0M | $316.0M | $339.0M | $371.0M | $304.0M |
| Income before taxes | $1.12B | $878.0M | $758.0M | $1.15B | $970.0M | $1.39B | $761.0M | $1.72B | $1.41B | $930.0M | $1.00B | −$2.85B |
| Income taxes | $183.0M | $221.0M | $185.0M | $308.0M | $245.0M | $265.0M | $33.0M | $348.0M | $203.0M | $220.0M | $64.0M | −$781.0M |
| Net income | $933.0M | $653.0M | $577.0M | $834.0M | $723.0M | $1.12B | $728.0M | $1.37B | $1.15B | $928.0M | $945.0M | −$2.08B |
| EBITDA | $1.46B | $1.47B | $1.19B | $1.68B | $1.45B | $1.93B | $1.33B | $2.31B | $2.03B | $1.70B | $1.24B | −$2.12B |
| EPS (diluted) | $2.40 | $2.14 | $1.83 | $2.19 | $2.16 | $1.88 | $1.68 | $1.98 | $1.93 | $2.39 | $2.42 | $2.68 |
| Gross margin | 41.3% | 40.7% | 33.6% | 41.8% | 41.8% | 40.9% | 37.8% | 42.0% | 42.5% | 41.7% | 41.6% | 44.9% |
| Operating margin | 15.1% | 23.2% | 12.9% | 24.7% | 17.4% | 20.5% | 18.2% | 21.2% | 20.4% | 20.4% | 15.5% | −31.9% |
| Net margin | 14.4% | 10.8% | 9.4% | 12.8% | 11.4% | 18.7% | 12.1% | 21.8% | 18.3% | 15.4% | 11.8% | −25.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MMM's financial statements (latest annual report filed February 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MMM financial results
In fiscal year 2025 (ended December 31, 2025), 3M reported revenue of $24.9 billion, up 1.5% from the year before. It had net income of $3.2 billion (down 22.1%), a net profit margin of 13.0%. Diluted earnings per share came to $8.06. Over five years revenue grew at an average rate of −5.0% a year.
See the MMM stock overview for the latest quote and news, or the MMM chart for price history and technical indicators.
MMM income statement FAQ
What is 3M's annual revenue?
3M reported total revenue of $24.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.5% from $24.6 billion the previous year.
Is 3M profitable?
Yes. 3M reported net income of $3.2 billion in fiscal 2025, a net profit margin of 13.0%; its operating margin was 18.3%.
What is 3M's gross margin?
3M's gross margin was 39.6% in fiscal 2025: for every $100 of revenue, 3M kept $40 after the direct cost of its products and services.
How much does 3M spend on research and development?
3M spent $1.2 billion on research and development in fiscal 2025, 4.7% of revenue.
How fast is 3M growing?
Revenue grew −5.0% a year on average over the last five fiscal years, from $32.2 billion to $24.9 billion.
What are 3M's earnings per share?
3M earned $8.06 per diluted share in fiscal 2025, compared with $7.98 a year earlier.
When will 3M report its next earnings?
3M is expected to report results for the quarter ending September 30, 2026 on October 20, 2026 before the market opens.
When does 3M's fiscal year end?
3M's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 3, 2026.