3M Co
3M Co returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 17.21% | — | 82.77% | 8.22% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 16.8% | — | 72.14% | 7.39% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 16.31% | — | 76.08% | 8.38% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | 16.85% | — | 73.38% | 8.67% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 16.17% | — | 96% | 9.68% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 13.55% | — | 93.48% | 9.16% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 15.09% | — | 96.5% | 9.23% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 16.76% | — | 94.27% | 9.7% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 4.07% | — | 16.1% | 2.04% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | -22.62% | — | -69.86% | -13.79% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | -25.28% | — | -71.64% | -14.42% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | -27.52% | — | -78.91% | -15.45% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | -7.95% | — | -13.6% | -3.1% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 16.81% | — | 36.09% | 11.76% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | 17.44% | — | 38.81% | 12.35% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | 19.99% | — | 46.08% | 13.92% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | 13.82% | — | 29.44% | 8.84% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | 18.58% | — | 39.01% | 12.03% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | 19.03% | — | 42.42% | 12.54% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | 19.84% | — | 45.34% | 12.75% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | 20.15% | — | 47.03% | 12.74% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | 19.74% | — | 47.82% | 12.24% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | 19.14% | — | 46.96% | 11.7% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | 18.26% | — | 43.96% | 11.29% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | 19.39% | — | 49.04% | 12.22% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | 19.4% | — | 50.09% | 11.65% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | 19.09% | — | 46.02% | 11.26% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | 20.51% | — | 47.24% | 12.4% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | 22.28% | — | 48% | 12.96% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | 23.81% | — | 54.53% | 14.51% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | 24.2% | — | 50.09% | 14.36% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | 24.74% | — | 40.41% | 12.48% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 25.9% | — | 40.18% | 12.47% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 24.79% | — | 37.67% | 11.51% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 27.44% | — | 44.44% | 13.71% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | 27.23% | — | 45.47% | 15.85% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | 27.75% | — | 45.9% | 16.04% | — |
| FY 2017 Q1 | Mar 31, 2017 | 24.79% | 27.15% | — | 44.87% | 15.38% | 17.1 pp |
| FY 2016 Q4 | Dec 31, 2016 | 25.68% | 27.63% | — | 45.9% | 15.39% | 18 pp |
| FY 2016 Q3 | Sep 30, 2016 | 22.97% | 26.2% | -4.17% | 40.79% | 14.66% | 15.3 pp |
| FY 2016 Q2 | Jun 30, 2016 | 24.63% | 26.9% | -1.7% | 39.22% | 15.16% | 16.9 pp |
| FY 2016 Q1 | Mar 31, 2016 | 24.88% | 27.27% | -1.18% | 38.28% | 15.43% | 17.2 pp |
| FY 2015 Q4 | Dec 31, 2015 | 25.39% | 27.31% | -5.53% | 38.95% | 15.11% | 17.7 pp |
| FY 2015 Q3 | Sep 30, 2015 | 23.26% | 27.71% | 19.52% | 35.08% | 15.06% | 15.6 pp |
| FY 2015 Q2 | Jun 30, 2015 | 24.49% | 26.8% | — | 32.72% | 15.24% | 16.8 pp |
| FY 2015 Q1 | Mar 31, 2015 | 24.46% | 27.68% | — | 31.55% | 15.42% | 16.8 pp |
| FY 2014 Q4 | Dec 31, 2014 | 25.73% | 27.8% | — | 32.38% | 15.29% | 18 pp |
| FY 2014 Q3 | Sep 30, 2014 | 23.14% | 27.53% | — | 28.73% | 14.7% | 15.4 pp |
| FY 2014 Q2 | Jun 30, 2014 | 22.48% | 25.18% | 22.67% | 27.29% | 14.12% | 14.8 pp |
| FY 2014 Q1 | Mar 31, 2014 | 22.11% | 24.86% | 26.14% | 26.66% | 14.02% | 14.4 pp |
| FY 2013 Q4 | Dec 31, 2013 | 22.55% | 24.81% | 87.64% | 26.56% | 13.82% | 14.9 pp |
| FY 2013 Q3 | Sep 30, 2013 | 21.75% | 24.16% | 53.45% | 25.66% | 13.36% | 14 pp |
| FY 2013 Q2 | Jun 30, 2013 | 22.51% | 23.34% | 9.23% | 26.12% | 13.27% | 14.8 pp |
| FY 2013 Q1 | Mar 31, 2013 | 22.49% | 23.75% | 5.28% | 25.96% | 13.47% | 14.8 pp |
| FY 2012 Q4 | Dec 31, 2012 | 23.04% | 24.08% | 6.03% | 26.94% | 13.57% | 15.3 pp |
| FY 2012 Q3 | Sep 30, 2012 | 21.97% | 23.79% | 11.02% | 25.47% | 13.24% | 14.3 pp |
| FY 2012 Q2 | Jun 30, 2012 | 22.6% | 23.48% | — | 25.69% | 13.25% | 14.9 pp |
| FY 2012 Q1 | Mar 31, 2012 | 22.95% | 24.05% | — | 26.48% | 13.75% | 15.2 pp |
| FY 2011 Q4 | Dec 31, 2011 | 24.19% | 24.59% | 25.42% | 27.56% | 14.11% | 16.5 pp |
| FY 2011 Q3 | Sep 30, 2011 | 23.77% | 24.16% | 4.7% | 26.22% | 13.74% | 16.1 pp |
| FY 2011 Q2 | Jun 30, 2011 | 24.18% | 24.87% | 10.49% | 27.32% | 14.07% | 16.5 pp |
| FY 2011 Q1 | Mar 31, 2011 | 24.21% | 25.16% | 21.14% | 28.18% | 14.32% | 16.5 pp |
| FY 2010 Q4 | Dec 31, 2010 | 25.13% | 25.5% | 42.9% | 28.74% | 14.23% | 17.4 pp |
| FY 2010 Q3 | Sep 30, 2010 | 26.06% | 25.61% | — | 29.37% | 14.18% | 18.4 pp |
| FY 2010 Q2 | Jun 30, 2010 | 26.18% | 26.74% | — | 31.83% | 14.45% | 18.5 pp |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · MMM, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.