Business Description

3M Company is a technology firm that manufactures safety, industrial, and consumer products. The company was established by Henry S. Bryan and Hermon W. Cable in 1902 and is headquartered in St. Paul, Minnesota in the US. It operates in the following segments: Health Ca, Safety and Industrial; and Consumer. Transportation and Electronics. The Health Care segment covers medical and surgical supplies, oral care solutions, separation, purification sciences, health data systems, transdermal and inhalation drug delivery systems, food safety products, and skin health and infection prevention.

Safety and Industrial include personal safety, adhesives and tapes for industrial use, abrasives and closure and masking system, aftermarket, roofing granules, and electrical markets, Transportation and Electronics include aerospace, commercial solutions electronics, and advanced materials. Products from the Consumer segment include office supplies, stationery, home improvement, home care, protective material, consumer safety products, and consumer health products. Electronics & Energy is a segment that includes optical film solutions for the electronic packages, display, and interconnection devices, insulating and splicing solutions; and protection products, touch screens, and monitors; renewable power component solutions.

Key Financials

Revenue (US$ Mn):

• US$ 35,355 Mn was the annual revenue generated by 3M Company in 2021
• 3M Company’s annual revenue for 2020 was US$ 32,184 Mn, a 0.15% increase from 2019
• From 2018’s yearly revenues, 3M Company registered a -1.92% decrease in 2019, amounting to US$ 32,136 Mn
• A total revenue of US$ 32,765 Mn was generated in 2018 by 3M Company

Operating Income (US$ Mn):

• 3M Company’s operating income for 2021 was US$ 7,369 Mn, a 2.9% increase from 2020
• The operating income generated by 3M Company in 2020 was US$ 7,161 Mn
• At a -14.33% decrease from, 3M Company’s operating income of US$ 6,174 Mn was indexed in 2019
• 3M Company generated an operating income of US$ 7,207 Mn in 2018

Net Income (US$ Mn):

• 3M Company’s net income for 2021 was US$ 5,921 Mn, a 9.97% increase from 2020
• The net income generated by 3M Company in 2020 was US$ 5,384 Mn
• At a -14.56% decrease from , 3M Company’s net income of US$ 4,570 Mn was indexed in 2019
• 3M Company generated a net income of US$ 5,349 Mn in 2018

Operating Margin %:

• 3M Company’s operating margin for 2021 was 21%, a -6.39% decrease from 2020
• The operating margin generated by 3M Company in 2020 was 22%
• At a -13.24% decrease from , 3M Company’s operating margin of 19% was indexed in 2019
• 3M Company generated an operating margin of 22% in 2018

SWOT Analysis

Strengths

Robust portfolio of brands

3M is well-known for its strong brand. 3M is well-known across all product lines and geographies. Scotch products include Scotch Magic Tape and Scotch Cushioned Mailer. Post-it products include Post-it flags and Post-it note pads. The company’s brands include Filtrete filters, Command adhesive products for furnaces, and air conditioners. Scotch Brite microfiber cloth, Scotch Brite scrub sponges and Scotch Brite scour pads are its home care brands. Scotchgard fabric protects are 3M’s protection product.

3M also offers a range of consumer safety products such as safety glasses and hearing protectors. 3M Thinsulate Insulation is available in certain retail stores. It can be used in pants, gloves, and jackets to keep people warm. ACE branded elastic bandage and supports, and a thermometer product portfolio. A strong brand portfolio promotes repeat sales and increases brand recall. It increases the company’s brand equity and opens up opportunities for brand extensions and line extensions.

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