DuPont vs 3M
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The short version
- 3M is the larger business, with $24.9B of revenue in fiscal 2025 against $6.8B for DuPont, about 3.6 times as much.
- 3M turned more of its sales into free cash flow (5.6% FCF margin, against 3.3%).
- 3M earned a higher return on the capital invested in it (34.2%, against 1.1%).
| Latest fiscal year | DD · FY25 | MMM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $18.7B | $90.7B |
| Revenue | $6.8B | $24.9B |
| Free cash flow | $227M | $1.4B |
| Net income | −$779M | $3.3B |
| Growth | ||
| Revenue growth | 1.9% | 1.5% |
| 5-year growth | −19.6% | −5.0% |
| Share count change | 0.0% | −2.0% |
| Profitability | ||
| Gross margin | 34.5% | 39.9% |
| Operating margin | — | 18.6% |
| Net margin | −11.4% | 13.0% |
| FCF margin | 3.3% | 5.6% |
| Return on capital | 1.1% | 34.2% |
| Return on equity | −4.2% | 76.1% |
| Balance sheet | ||
| Net debt | $2.5B | $6.7B |
| Net debt / EBITDA | 2.1x | 1.1x |
| Dividends and buybacks | $597M | $4.8B |
| Valuation & quality | ||
| P/E | — | 25.9x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
DD $48.2B
MMM $30.1B
FY17
DD $11.7B
MMM $31.7B
FY18
DD $22.6B
MMM $32.8B
FY19
DD $21.5B
MMM $32.1B
FY20
DD $20.4B
MMM $32.2B
FY21
DD $12.6B
MMM $35.4B
FY22
DD $13.0B
MMM $26.2B
FY23
DD $6.6B
MMM $24.6B
FY24
DD $6.7B
MMM $24.6B
FY25
DD $6.8B
MMM $24.9B
DD
MMM
Operating margin
FY16
DD —
MMM 23.3%
FY17
DD —
MMM 24.3%
FY18
DD —
MMM 22.0%
FY19
DD —
MMM 19.2%
FY20
DD —
MMM 22.3%
FY21
DD —
MMM 20.8%
FY22
DD —
MMM 16.7%
FY23
DD —
MMM −43.4%
FY24
DD —
MMM 19.6%
FY25
DD —
MMM 18.6%
DD
MMM
Free cash flow
FY16
DD −$6.8B
MMM $5.2B
FY17
DD −$1.3B
MMM $4.9B
FY18
DD $3.5B
MMM $4.9B
FY19
DD −$1.1B
MMM $5.4B
FY20
DD $2.9B
MMM $6.6B
FY21
DD $1.5B
MMM $5.9B
FY22
DD −$74.0M
MMM $3.8B
FY23
DD $543M
MMM $5.1B
FY24
DD $480M
MMM $638M
FY25
DD $227M
MMM $1.4B
DD
MMM
Return on capital
FY16
DD —
MMM 25.9%
FY17
DD −1.5%
MMM 24.7%
FY18
DD 0.5%
MMM 26.6%
FY19
DD 0.8%
MMM —
FY20
DD −1.2%
MMM —
FY21
DD 3.7%
MMM 22.2%
FY22
DD 4.3%
MMM 15.3%
FY23
DD 0.3%
MMM −42.2%
FY24
DD 0.8%
MMM 36.0%
FY25
DD 1.1%
MMM 34.2%
DD
MMM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.