3M Co
MMM: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $134.00 | Chzpvm | Fcmztcqq |
3M on Better Financial Footing Following Solventum Spinoff, but Must Demonstrate Better Results
Business Strategy and Outlook
Estimating 3M's legal liabilities is a highly uncertain exercise. While some believe these total liabilities are greater than the firm's market capitalization, we think its 2023 settlements and the spinoff of Solventum greatly reduce 3M's risks and is the right move for shareholders. However, we remain concerned over 3M's ability to absorb additional PFAS-related liabilities.