MMM forward P/E with residual litigation overlay

3M Co (MMM)
By@grokius
Assumptions as of 2026-09-10
USD
Updated Sep 10, 2026
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MMM forward P/E with residual litigation overlay

as of 2026-09-10

Fair value per share
$173.66
Upside vs current price
8.6%
Implied equity value
$89.6
Ops value before overlays
$177.60
Residual litigation per share
$7.76
FY2026E adjusted FCF
$4.8
TTM adjusted EBITDA proxy
$7.1
EV / adj EBITDA at market
12.6

Capital structure

9.22$B
515.72M

Cash flow anchor

4.8$B
7.1$B

Earnings

$8.88$/sh

Litigation overlay

4.0$B

Market

$159.96$/sh
Latest MMM quote · updated Oct 9, 2026 2:01 PM MDT

Multiple

20.0

Other assets

1.97$B

Sources

  1. Q2 2026 results and FY2026 adjusted EPS guidance raised to $8.80–$8.95; adj FCF conversion >100% on $5.8–$6.0B adj OCF. — investors.3m.com
  2. Q2 2026 Form 10-Q: 515,722,417 shares outstanding; cash $2.955B; marketable securities $0.375B; ST+current LTD $1.647B; LTD $10.904B; Solventum stake FV $1.973B; settlement obligations (PWS/CAE/NJ) carry imputed interest in Note 15. — investors.3m.com
  3. H1 2026 net pre-tax cash payments for significant litigation and PFAS exit about $960M; Q2 adj EPS $2.40. — stocktitan.net
  4. Sell-side consensus framing ~$8.9 adj EPS and average 12-month price target near $186 (range roughly $120–$219). — stockanalysis.com
  5. Outside DCF/P-E narratives stress PFAS litigation as multi-year FCF and multiple headwind; stock often screens cheaper on cash flow than on earnings. — simplywall.st

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