Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
~$88 billion (515.7M shares × $170.76) $4.7 – $4.9 billion (~18x P/FCF) $3.12/yr annualized (~1.8% yield) An average business, skillfully operated, fully priced, with a legal tail that still wags the dog Charlie and I have watched 3M for over half a century, and for most of that time it was the kind of company we'd point to when someone asked what American industrial excellence looked like. So let us begin by saying plainly what the company is today, because it is a smaller and different animal than the one most investors carry around in their heads. 3M is a diversified materials-science manufacturer. It takes about fifty-one core technology platforms — adhesives, abrasives, films, nonwovens, ceramics — and spins them into tens of thousands of products sold into industrial, transportation, electronics, safety, and consumer channels.
Recent filings analysed: FWP (2026-09-03), 8-K (2026-08-19), 10-Q (2026-07-21), 8-K (2026-06-08).
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