LIVE
MMM
3M Company · Industrials
$160.60
+7.53% this month
VERSUS
⟷
COMPARE
HON
Honeywell International Inc. · Industrials
$229.01
+5.46% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
MMM
3
HON
2
Comparison scoreboard
MMM LEADS 3/5AI Score
MMM 40.5
HON ✓40.8
1Y Return
MMM ✓+12.93%
HON +3.26%
Fwd P/E
MMM ✓16.76
HON 19.25
Target Up.
MMM +7.32%
HON ✓+11.97%
Op. Margin
MMM ✓23.32%
HON 21.00%
Metrics last refreshed: 6/20/2026
Quick take
MMM vs HON Stock Comparison: AI Score, Valuation, Performance and Upside
3M and Honeywell are both large industrial conglomerates undergoing portfolio simplification, but at very different points in the process and for different reasons. Honeywell is simplifying from a position of relative strength — separating Advanced Materials while maintaining growing aerospace and automation segments. 3M is simplifying under duress — managing enormous PFAS and earplug litigation liabilities while divesting healthcare (Solventum) to reset the company as a simpler industrial business.
MMM vs HON is 3M in forced industrial reset mode under enormous legal liability management after healthcare spinoff (3M) versus Honeywell in voluntary portfolio simplification from a position of strength with aerospace growth leading (Honeywell) — distressed industrial reset vs voluntary portfolio focus at strength.
Live analysis · updated 6/20/2026
MMM holds the edge across 3 of 5 key metrics in this comparison. MMM leads on both 1-year return (+12.93%) and forward P/E (16.76x vs 19.25x for HON), a relatively favorable combination of momentum and valuation. On fundamentals, HON is growing revenue faster (2.40%), while MMM maintains the higher operating margin (23.32%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for HON (+11.97%) than for MMM (+7.32%).
Normalized 1Y performance
MMM
HON
Recent returns
MMM
HON
Analyst price targets & sentiment
MMM · 18 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.2/5.0)
Price target range
analyst low$100.00
analyst high$184.00
analyst mean$169.91
current price$160.60
+7.3% upside to analyst mean
HON · 23 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.1/5.0)
Price target range
analyst low$203.00
analyst high$300.00
analyst mean$246.67
current price$229.01
+12.0% upside to analyst mean
Who should consider this stock?
MMM may suit investors who:
- →prefer potential value recovery if PFAS and earplug litigation settlements are manageable and 3M's remaining industrial businesses can return to growth
- →value 3M's niche industrial market leadership in adhesives, abrasives, filtration, and electrical across many specialized applications
- →want deep value industrial exposure to a company that has undergone unprecedented litigation challenges that may eventually clear
- →are comfortable with significant remaining PFAS litigation liability uncertainty, dividend reset after 60+ year increase streak, and operational reset during portfolio simplification
HON may suit investors who:
- →prefer industrial conglomerate with aerospace technology outperformance as commercial aviation recovery and aircraft production drive avionics demand
- →value Honeywell's process automation installed base creating recurring service revenue across oil & gas, chemicals, and manufacturing
- →want diversified industrial compounding with software-defined automation (Honeywell Forge) providing digital revenue alongside hardware
- →are comfortable with conglomerate discount from portfolio complexity, Advanced Materials separation transition, and Emerson/Siemens/ABB competition in process automation
Performance & AI score
| Metric | MMM | HON |
|---|---|---|
| AI score | 40.5 | 40.8 |
| AI rank | #1040 | #1016 |
| Latest close | $160.60 | $229.01 |
| 1M return | +7.53% | +5.46% |
| 6M return | -0.97% | +14.57% |
| 1Y return | +12.93% | +3.26% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | MMM | HON |
|---|---|---|
| 1Y ago | $11.27K (+12.7%) started 2025-06-18 | $10.32K (+3.2%) started 2025-06-18 |
| 5Y ago | $13.58K (+35.8%) started 2021-06-21 | $12.53K (+25.3%) started 2021-06-21 |
| 10Y ago | $21.58K (+115.8%) started 2016-06-20 | $30.28K (+202.8%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | MMM | HON |
|---|---|---|
| Market cap | $82.57B | $139.6B |
| Trailing P/E | 30.50 | 35.19 |
| Forward P/E | 16.76 | 19.25 |
| Price/Sales | 3.19 | 3.75 |
| EV/Revenue | 3.59 | 4.41 |
| Analyst target | $169.91 | $246.67 |
| Target upside | +7.32% | +11.97% |
Growth, profitability & risk
| Metric | MMM | HON |
|---|---|---|
| Revenue growth | 1.30% | 2.40% |
| Earnings growth | -39.70% | -41.90% |
| EPS growth | -39.70% | -41.90% |
| FCF margin | +9.28% | +7.80% |
| Operating margin | 23.32% | 21.00% |
| Profit margin | 11.14% | 10.89% |
| ROIC proxy | 71.46% | 24.26% |
| Return on equity | 71.46% | 24.26% |
| Dividend yield | 1.97% | 2.16% |
| Beta | 1.09 | 0.84 |
| Debt/equity | 396.50 | 257.39 |
| Current ratio | 1.59 | 1.39 |
| Quick ratio | 1.06 | 0.93 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
MMM max drawdown19.13%
HON max drawdown21.74%
MMM max wkly drop7.99%
HON max wkly drop10.46%
5Y risk snapshot
MMM max drawdown53.34%
HON max drawdown27.13%
MMM max wkly drop13.89%
HON max wkly drop14.33%
10Y risk snapshot
MMM max drawdown59.10%
HON max drawdown43.01%
MMM max wkly drop15.07%
HON max wkly drop24.70%
Performance metrics by period
| Period | Metric | MMM | HON |
|---|---|---|---|
| 1Y | Growth | +12.69% | +3.22% |
| CAGR | +12.71% | +3.22% | |
| Sharpe ratio | 0.42 | 0.07 | |
| Max drawdown | 19.13% | 21.74% | |
| Max daily drop | 6.96% | 6.18% | |
| Max wkly drop | 7.99% | 10.46% | |
| 5Y | Growth | +14.88% | +15.10% |
| CAGR | +2.82% | +2.86% | |
| Sharpe ratio | 0.08 | 0.04 | |
| Max drawdown | 53.34% | 27.13% | |
| Max daily drop | 11.03% | 7.62% | |
| Max wkly drop | 13.89% | 14.33% | |
| 10Y | Growth | +51.75% | +147.09% |
| CAGR | +4.26% | +9.47% | |
| Sharpe ratio | 0.12 | 0.31 | |
| Max drawdown | 59.10% | 43.01% | |
| Max daily drop | 12.95% | 12.09% | |
| Max wkly drop | 15.07% | 24.70% |
Business comparison
| Category | MMM | HON |
|---|---|---|
| Company | 3M Company | Honeywell International Inc. |
| Sector | Industrials | Industrials |
| Industry | Conglomerates | Conglomerates |
| Core business | 3M is a diversified technology company historically operating across Safety & Industrial, Transportation & Electronics, and Health Care segments. 3M is best known for consumer products (Post-it Notes, Scotch tape) but derives most revenue from industrial and healthcare products. 3M has been undergoing major portfolio simplification — spinning off its healthcare segment (now Solventum, SOLV) and settling massive military earplugs litigation ($6B+ settlement) and PFAS chemical contamination claims ($10B+ potential settlements). The remaining industrial 3M company faces significant legal and operational reset. | Honeywell operates across Aerospace Technologies (aircraft equipment, avionics), Industrial Automation (process control, warehouse automation), Building Automation (HVAC, fire), and Energy & Sustainability Solutions. Honeywell's Aerospace segment is the fastest growing — aircraft production ramp and air travel recovery are driving strong demand. Honeywell is separating its Advanced Materials segment to further focus the portfolio. Honeywell's process automation installed base in oil & gas and chemicals creates long-term service revenue. |
| Investor focus | Investors track revenue and margin in the remaining industrial 3M post-Solventum spinoff, litigation settlement progress (especially PFAS/water contamination claims), and whether the simplified industrial portfolio can return to growth. | Investors track Aerospace Technology order growth (the primary near-term catalyst), industrial automation bookings, and the portfolio reshaping toward higher-growth, higher-margin industrial automation and aerospace. |
MMM strengths
- →3M's remaining industrial businesses include leading positions in abrasives, adhesives, filtration, and electrical products — many niche industrial markets where 3M has decades of customer relationships
- →Post-spinoff simplification may unlock value — Solventum (healthcare) as a separate company might unlock conglomerate discount for both remaining entities
- →Dividends: 3M had been a Dividend King with 60+ consecutive increases — though dividend was reduced in 2024 to reset as a simpler industrial company
HON strengths
- →Aerospace segment providing exceptional growth as commercial aircraft production and air travel recovery drive avionics and aerospace equipment demand
- →Process automation installed base creates long-term service contracts and maintenance revenue in oil & gas, chemicals, and power sectors
- →Building automation exposure to smart building and energy efficiency investment globally as decarbonization drives HVAC and controls upgrades
Risks to watch — MMM
- →PFAS water contamination litigation ($10B+ potential liability) is the most significant ongoing legal risk — final settlement amounts are still being determined
- →Military combat earplugs class action settlement ($6B) has mostly resolved but required significant cash outflow
- →Revenue growth in the remaining industrial segments has been challenged — the company is in operational reset while managing enormous legal liabilities
Risks to watch — HON
- →Portfolio complexity — Honeywell managing 4+ major segments simultaneously creates management bandwidth challenges and conglomerate discount
- →Honeywell Forge software strategy is developing but competes with established industrial software vendors (Emerson's DeltaV, Siemens, ABB)
- →Advanced Materials separation adds another portfolio transformation challenge alongside existing industrial segments
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