3M Co (BUE:MMM) Beneish M-Score: -2.37 (As of Jun. 24, 2026)

What is 3M Co Beneish M-Score?

3M Co BUE:MMM +1.09% 57 Beneish M-Score is -2.37 as of Jun. 24, 2026. GuruFocus rates BUE:MMM with a GF Score™ of 57/100 and a GF Value™ of ARS21,452.25 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 538 Conglomerates companies, 3M Co ranks worse than 63.57% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.37 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for 3M Co's Beneish M-Score or its related term are showing as below:

BUE:MMM' s Beneish M-Score Range Over the Past 10 Years
Min: -4.26 Med: -2.7 Max: -1.66
Current: -2.37

During the past 13 years, the highest Beneish M-Score of 3M Co was -1.66. The lowest was -4.26. And the median was -2.70.

3M Co Beneish M-Score Related Terms

3M Co Beneish M-Score Historical Data

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The historical data trend for 3M Co's Beneish M-Score 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.

3M Co Beneish M-Score Chart

3M Co Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.64

-2.61

-4.26

-2.34

-2.28

3M Co Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.28	-1.66	-2.28	-2.28	-2.37

BUE:MMM vs VMI, HON, SEB: Beneish M-Score Comparison

For the Conglomerates subindustry, 3M Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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 Beneish M-Score vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, 3M Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where 3M Co's Beneish M-Score falls into.

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57GF Score

3M Co BUE:MMM

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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3M Co Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of 3M Co for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0012

0.528 * 1.0382

0.404 * 0.971

0.892 * 1.4047

0.115 * 0.7838

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9144

4.679 * 0.002408

0.327 * 1.0138

-2.11

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ARS5,249,012 Mil.
Revenue was 8431417.896 + 8901981.965 + 8850166.825 + 7531807.462 = ARS33,715,374 Mil.
Gross Profit was 3434089.942 + 2987164.338 + 3700583.796 + 3203155.191 = ARS13,324,993 Mil.
Total Current Assets was ARS20,124,942 Mil.
Total Assets was ARS49,548,213 Mil.
Property, Plant and Equipment(Net PPE) was ARS9,731,786 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS1,828,953 Mil.
Selling, General, & Admin. Expense(SGA) was ARS5,058,776 Mil.
Total Current Liabilities was ARS12,628,950 Mil.
Long-Term Debt & Capital Lease Obligation was ARS15,249,261 Mil.
Net Income was 913054.044 + 837509.146 + 1132582.343 + 858369.608 = ARS3,741,515 Mil.
Non Operating Income was -504766.478 + 187242.079 + -373453.411 + -39178.696 = ARS-730,157 Mil.
Cash Flow from Operations was 802592.682 + 2297707.068 + 2384669.778 + -1132620.479 = ARS4,352,349 Mil.

Total Receivables was ARS3,732,195 Mil.
Revenue was 6347183.925 + 6070100.061 + 5982446.737 + 5601352.42 = ARS24,001,083 Mil.
Gross Profit was 2639507.457 + 2288660.023 + 2515973.389 + 2403521.966 = ARS9,847,663 Mil.
Total Current Assets was ARS16,690,940 Mil.
Total Assets was ARS42,589,242 Mil.
Property, Plant and Equipment(Net PPE) was ARS8,467,531 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS1,198,571 Mil.
Selling, General, & Admin. Expense(SGA) was ARS3,938,532 Mil.
Total Current Liabilities was ARS10,075,115 Mil.
Long-Term Debt & Capital Lease Obligation was ARS13,562,122 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(5249012.07 / 33715374.148)	/	(3732195.318 / 24001083.143)
	=	0.155686	/	0.155501
	=	1.0012

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(9847662.835 / 24001083.143)	/	(13324993.267 / 33715374.148)
	=	0.410301	/	0.39522
	=	1.0382

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (20124941.588 + 9731785.83) / 49548213.029)	/	(1 - (16690940.328 + 8467531.393) / 42589241.683)
	=	0.397421	/	0.409276
	=	0.971

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	33715374.148	/	24001083.143
	=	1.4047

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(1198571.198 / (1198571.198 + 8467531.393))	/	(1828953.491 / (1828953.491 + 9731785.83))
	=	0.123997	/	0.158204
	=	0.7838

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(5058775.864 / 33715374.148)	/	(3938531.857 / 24001083.143)
	=	0.150044	/	0.164098
	=	0.9144

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((15249260.958 + 12628949.658) / 49548213.029)	/	((13562121.917 + 10075115.095) / 42589241.683)
	=	0.562648	/	0.555005
	=	1.0138

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(3741515.141 - -730156.506	-	4352349.049)	/	49548213.029
	=	0.002408

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

3M Co has a M-score of -2.11 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.37 mean?

3M Co (BUE:MMM) has a Beneish M-Score of -2.37 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on 3M Co and its competitors. According to the industry distribution chart, 3M Co ranks #342 out of 538 companies in the Conglomerates industry, placing it in the top 63.6%.

Is 3M Co's Beneish M-Score too high?

3M Co's current Beneish M-Score is -2.37. Based on the distribution chart, 3M Co ranks #342 out of 538 companies in the Conglomerates industry, which is below the industry midpoint. Overall, 3M Co has a GF Score™ of 57/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does 3M Co's Beneish M-Score compare to VMI and HON?

According to the Conglomerates industry distribution chart, 3M Co ranks #342 out of 538 companies for Beneish M-Score. This places 3M Co in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Conglomerates company?

A good Beneish M-Score depends on the Conglomerates industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on 3M Co and its competitors. 3M Co's current Beneish M-Score is -2.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is 3M Co stock overvalued right now?

Based on GuruFocus' analysis, 3M Co (BUE:MMM) is currently considered Modestly Overvalued. The stock's GF Value™ is ARS21,452.25, compared to a current price of ARS25,100.00 — trading 17% above its estimated fair value. The current Beneish M-Score is -2.37. 3M Co's overall GF Score™ is 57/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For 3M Co (BUE:MMM), the current Beneish M-Score is -2.37 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is 3M Co (BUE:MMM) Overvalued in 2026?

Based on GuruFocus' analysis, 3M Co stock appears to be overvalued. The current stock price of ARS25,100.00 is trading 17% above its estimated GF Value™ of ARS21,452.25. GuruFocus considers 3M Co to be Modestly Overvalued.

Key valuation signals for BUE:MMM:

Beneish M-Score: -2.37
GF Value™: ARS21,452.25 vs. price of ARS25,100.00 (17% above fair value)
GF Score™: 57/100 with 7 warning signs

No single metric tells the full story. See the BUE:MMM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

3M Co Business Description

Industry Industrials Conglomerates

Comparable Companies VMI HON SEB OTTR TTI DLX AIAI CODI MATW FBYD ADX:IHC TSE:6501 TSE:8058 TSE:8031 TSE:8001 TSE:8002 TSE:8053 TSE:5803 HKSE:00267 TSE:8015

Other Exchanges MMM:USA MMM:Mexico 1MMM:Italy 0QNY:UK MMM:Germany MMMM:Canada MMMC34:Brazil MMM:Austria

Address 3M Center, St. Paul, MN, USA, 55144

Website https://www.3m.com

3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.

57GF Score

Get the complete analysis for BUE:MMM

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

ARS25,100.00

Price

ARS21,452.25

GF Value

View BUE:MMM Analysis

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