3m Company · NYSE:MMM
3m — Q4 2025 Earnings Presentation
17 slides from 3m's earnings presentation, Jan 20, 2026
Slide 1: 2025 Fourth Quarter Earnings
2025 Fourth Quarter Earnings (unaudited) Bill Brown Anurag Maheshwari Chinmay Trivedi Chairman and CEO Chief Financial Officer Senior Vice President, Investor Relations and Financial Planning & Analysis
Slide 2: Forward-looking statements
2 Forward-looking statements This document contains forward-looking statements. You can identify these statements by the use of words such as “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “would,” “forecast,” “future,” “outloo
Slide 3: Solid execution in Q4, capping a strong year
3 Solid execution in Q4, capping a strong year Q4 2025 results 2025 accomplishments • Sales of $6.0B, with organic growth up 2.2% • Accelerated sales trajectory … strong Organic commercial execution • Operating margin of 21.1%, up 140 bps growth • Launched 284 new products, up 68% • 5-yr new product
Slide 4: 3M outperformed in a soft macro
4 3M outperformed in a soft macro 2025 macro trends End markets 3M YoY organic growth % of H1 actual H2 actual Driver sales (1.5%) (2.7%) + Electrical markets, industrial ~2% General adhesives, aerospace, abrasives IPI +LSD +MSD (as expected) industrial – Roofing granules softer than expected + Self
Slide 5: Our 2026 outlook
5 Our 2026 outlook 2026 Guidance 2026 market trends • IPI up ~1.5% Organic sales growth − US flat (vs. ~1% in ’25); China ~4% (vs. ~6% in ’25); EMEA ~2% ~3% • Closely monitoring market dynamics and business implications General Continued momentum in industrial adhesives, Operating margin expansion i
Slide 6: 3M value creation framework
6 3M value creation framework Value Structurally higher Pivot to priority 3 Acceleration verticals growth and margin portfolio Simplify / Shape Ongoing standardize portfolio 2 Transformation continuous Reduce improvement risk KPIs (illustrative): … Foundation • Cross selling • Safety Commercial 1 In
Slide 7: Q4 2025 performance
7 Q4 2025 performance Sales ($M) Operating margin Earnings per share $1.83 $1.68 $6,023 21.1% +9% 19.7% $5,808 +140 +2.2% OSG bps Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 • Performance driven by commercial • Benefits from growth, productivity and lower • +$0.17 operational eXcellence and NPI
Slide 8: Q4 and full-year 2025 sales by business group
8 Q4 and full-year 2025 sales by business group ($ millions) Safety & Industrial Transportation & Electronics Consumer OSG% $11,384 $7,603* $4,920 $2,865 $1,851* $1,214 +3.8% +3.2% +2.4%* +2.0%* (2.2%) (0.3%) Q4 2025 FY 2025 Q4 2025 FY 2025 Q4 2025 FY 2025 Q4 commentary: Q4 commentary: Q4 commentary
Slide 9: Full-year 2025 performance
9 Full-year 2025 performance Sales ($M) Operating margin Earnings per share $8.06 $23,630 $24,279 23.4% $7.30 21.4% +10% +2.1% +200 OSG bps FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 • Commercial eXcellence initiatives, improved • Benefits from growth, productivity, and lower • +$0.96 operation
Slide 10: Full-year 2026 guidance $8.50 to $8.70
10 Full-year 2026 guidance Organic sales growth Earnings per share Free cash flow conversion ~3% $8.50 to $8.70 >100% • Broad based growth … each BG • Operating margin expansion in the • Strong earnings growth accelerating range of 70 to 80 bps • Net working capital improvement with • Innovation and
Slide 11: 2026 EPS guidance drivers
11 2026 EPS guidance drivers $8.50 to $8.70 $8.06 FX Price / volume Pension Net Productivity Share repo Investments Net interest Stranded costs Prior year gain on investment Tariffs 2025 EPS Operational FX / non-operational 2026 EPS Earnings growth driven by strong operational performance Note – all
Slide 12: Tracking ahead of Investor Day targets
12 Tracking ahead of Investor Day targets Medium-term 2024 2025 2026 commitments actual actual guidance Trend: 2025-2027 Progress: Organic $1B growth 1.2% 2.1% ~3% Accelerating Ahead sales growth over macro Operating 24.1% to ~25% margin 21.4% 23.4% Expanding Ahead margin 24.2% by 2027 $8.50 to Acce
Slide 13: Q&A
Q&A Bill Brown Chairman and CEO Anurag Maheshwari Chief Financial Officer Chinmay Trivedi Senior Vice President, Investor Relations and Financial Planning & Analysis 2025 Q4 Earnings | January 20, 2026. All rights reserved.
Slide 14: Q4 2025 business segment information
14 Q4 2025 business segment information Adjusted net Adjusted operating income Adjusted operating ($M) sales* Q4 2025 adjusted sales growth* (loss)* margin* Total Q4 Q4 Organic sales Q4 Q4 Percent Q4 Q4 Business Groups 2025 2024 growth FX M&A change 2025 2024 change 2025 2024 Safety & Industrial $2,
Slide 15: Full-year 2025 business segment information
15 Full-year 2025 business segment information Adjusted net Adjusted operating income Adjusted operating ($M) sales* FY 2025 adjusted sales growth* (loss)* margin* Total FY FY Organic sales FY FY Percent FY FY Business Groups 2025 2024 growth FX M&A change 2025 2024 change 2025 2024 Safety & Industr
Slide 16: 2026 key information
16 2026 key information 2026 Guidance Adjusted basis: Organic sales growth ~3% Divestitures -% FX ~1% Total sales growth ~4% Adjusted tax rate ~20% Capex ~$1.1B Gross share repurchase ~$2.5B Corporate & Other revenue ~$325M to $375M Corporate & Other op income(a) ~$0M to $25M (a) “Corporate & Other
Slide 17: 3M eXcellence
3M |eXcellence