3M Q4 and FY 2025 Results

3M has reported its 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 rigour 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 GAAP sales of $6.1 billion, up 2.1% year-on-year; operating margin of 13.0%, down 510 basis points; EPS of $1.07, down 20%, all year-on-year.

• Adjusted sales of $6.0 billion with organic growth of 2.2% year-on-year.

• Adjusted operating margin of 21.1%, up 140 basis points year-on-year.

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

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

Sales of $6.1 billion increased 2.1% year-on-year, with organic sales up 0.6% year-on-year. Adjusted sales of $6.0 billion increased 3.7% year-on-year, with adjusted organic sales up 2.2% year-on-year. Adjusted sales exclude manufactured PFAS products.

3M returned $0.9 billion to shareholders via dividends and share repurchases during the quarter.

Full-year highlights

• Full-year GAAP sales of $24.9 billion, up 1.5% year-on-year; operating margin of 18.6%, down 100 basis points; EPS of $6.00, down 17%, all year-on-year.

• Adjusted sales of $24.3 billion with organic growth of 2.1% year-on-year.

• Adjusted operating margin of 23.4%, up 200 basis points year-on-year.

• Adjusted EPS of $8.06, up 10% year-on-year.

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

Sales of $24.9 billion increased 1.5% year-on-year, with organic sales up 0.9% year-on-year. Adjusted sales of $24.3 billion increased 2.7% year-on-year, with adjusted organic sales up 2.1% year-on-year. Adjusted sales exclude manufactured PFAS products.

3M returned $4.8 billion to shareholders via dividends and share repurchases for the full year.