There (MMM) Fair Value & Analysis
Industrials · DE · Market cap €90.4B · ISIN US88579Y1010
What is There really worth?
A solid business, but trading 89% above our fair value of €76.68.
As of Sep 5, 2026, the fair value of There is €76.68 per share against a price of €145.05, so the fair value sits 47% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
Fair value as of: Sep 5, 2026
From 10 valuation models · updated yesterday
Fair value updated Sep 5, 2026, revised from €89.17 to €76.68 (−14.0%) since Aug 13, 2026.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€138.34). The favourable scenario is already priced in.
- The model range is unusually wide (€43.63 to €138.34). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range €74.42 – €158.40 · fair‑value band €43.63 – €138.34 · the €145.05 price screens above the €76.68 fair value. Dashed = 300-day average. As of Sep 5, 2026.
Analysis
There (MMM) currently trades at €145.05, while our model-based Fair Value estimate is €76.68, implying the stock looks roughly 89.2% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bull case: the Economic Profit group reads highest at a median of €75.90 per share, and 0 of the 10 models we run sit above the €145.05 price. Bear case: the Growth DCF group reads lowest at €21.94, and 10 of the 10 models stay below the price. Evidence for this calculation is high.
Net debt stands at €7.4B. Fundamentals as of Sep 5, 2026
Our scenario range runs from €43.63 (bear case) to €138.34 (bull case); at €145.05, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 2% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 35% fair-value upside, at −47%, MMM screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 10 models by family
Widest divergence: Economic Profit (€75.90) versus Asset-Based (€5.06). Highest evidence: Growth DCF (77).
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Key figures & financial health
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
There is no Profile data available for MMM.HA.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
There reported revenue of $24.9B in FY2025 versus $35.4B in FY2021, a compound −8.3%/yr. Reported net income was $3.3B in FY2025, compounding −13.9%/yr from FY2021.
MMM screens 89% overvalued. Compare with ITOCHU Corporation →
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 35/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ITOCHU Corporation ITOCHU19 | 7.20 THB | 14.40 THB | +100% |
| Honeywell International Inc HON | $217.43 | $218.95 | +1% |
| 3M Company MMMM | C$28.68 | C$12.11 | −58% |
| CITIC Limited 0267 | HK$13.02 | HK$26.04 | +100% |
| Poste Italiane S.p.A PST | €26.90 | €7.65 | −72% |
| Swire Pacific Limited 0019 | HK$106.30 | HK$36.88 | −65% |
| CK Hutchison Holdings 0001 | HK$69.85 | HK$100.46 | +44% |
| SK Inc 034730 | 553,000 KRW | 615,077 KRW | +11% |
| PT Astra International Tbk, ASII | 4,800 IDR | 9,600 IDR | +100% |
| Jardine Matheson Holdings J36 | $58.42 | $79.11 | +35% |
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