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3M Co (MMM) Earnings Yield (Joel Greenblatt) % : -13.99% (As of Mar. 2024)


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What is 3M Co Earnings Yield (Joel Greenblatt) %?

3M Co's Enterprise Value for the quarter that ended in Mar. 2024 was $60,326 Mil. 3M Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was $-8,436 Mil. 3M Co's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was -13.99%.

The historical rank and industry rank for 3M Co's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

MMM' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -18.17   Med: 7.22   Max: 12.18
Current: -12.72

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of 3M Co was 12.18%. The lowest was -18.17%. And the median was 7.22%.

MMM's Earnings Yield (Joel Greenblatt) % is ranked worse than
92.19% of 538 companies
in the Conglomerates industry
Industry Median: 6.845 vs MMM: -12.72

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. 3M Co's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


3M Co Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for 3M Co's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

3M Co Earnings Yield (Joel Greenblatt) % Chart

3M Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.87 7.38 7.81 10.07 -14.25

3M Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.50 -4.46 -17.15 -14.25 -13.99

Competitive Comparison of 3M Co's Earnings Yield (Joel Greenblatt) %

For the Conglomerates subindustry, 3M Co's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


3M Co's Earnings Yield (Joel Greenblatt) % Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, 3M Co's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where 3M Co's Earnings Yield (Joel Greenblatt) % falls into.



3M Co Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

3M Cos Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=-8746/61434.7376257
=-14.24 %

3M Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-8,436 Mil.



3M Co  (NYSE:MMM) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


3M Co Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of 3M Co's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


3M Co (MMM) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » 3M Co (NYSE:MMM) » Definitions » Earnings Yield (Joel Greenblatt) %
Address
3M Center, St. Paul, MN, USA, 55144
3M is a multinational conglomerate that has operated since 1902, when it was known as Minnesota Mining and Manufacturing. The company is well known for its research and development laboratory and it leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of net sales. Many of the company's 60,000-plus products touch and concern a variety of consumers and end markets.
Executives
Thomas W Sweet director ONE DELL WAY, ROUND ROCK TX 78682
Bryan C Hanson officer: Group Pres & CEO Health Care ZIMMER BIOMET HOLDINGS, 345 E. MAIN STREET, WARSAW IN 46580
Audrey Choi director 3M COMPANY, 3M CENTER, BUILDING 220-9E-02, ST. PAUL MN 55144-1000
Eric D. Hammes officer: VP, Corp Controller & CAO 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST. PAUL MN 55144-1000
Goralski Christian T Jr officer: Group President 3M COMPANY, 3M CENTER, BUILDING 220-9E-02, ST. PAUL MN 55144-1000
Pedro Pizarro director 2244 WALNUT GROVE AVENUE, ROSEMEAD CA 91770
Anne H Chow director 2200 WEST PARKWAY BLVD., SALT LAKE CITY UT 84119
Kevin H Rhodes officer: EVP & Chief Legal Officer 3M COMPANY, 3M CENTER, BLDG 220-09-E-02, ST. PAUL MN 55144-1000
Chavez Rodriguez Beatriz Karina officer: Senior Vice President 3M COMPANY, 3M CENTER BLDG 220-09-E-02, ST. PAUL MN 55144-1000
John Patrick Banovetz officer: Sr Vice President 3M CENTER, MAPLEWOOD MN 55144
Zoe L Dickson officer: Executive Vice President 3M COMPANY, 3M CENTER, BLDG 220 09 E-02, ST. PAUL MN 55144-1000
Michael G. Vale officer: Executive Vice President 3M CENTER OFFICE OF GENERAL COUNSEL, ST PAUL MN 551441000
Theresa E Reinseth officer: Vice President/CAO 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Mojdeh Poul officer: Executive Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Michael F Roman officer: Senior Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST. PAUL MN 55144-1000

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