MMM vs TMO
3M Co. and Thermo Fisher Scientific Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MMM | TMO |
|---|---|---|
| Revenue | $24.9B | $44.6B |
| Net income | $3.2B | $6.7B |
| Gross margin | 39.9% | · |
| Net margin | 13.1% | 15.1% |
| Return on equity | 76.1% | 13.0% |
| Diluted EPS | $6.00 | $17.74 |
| Dividend / share | $2.92 | $1.72 |
| Payout ratio | 48.1% | 9.5% |
| Free cash flow | $1.4B | $6.3B |
| Equity | $4.7B | $53.4B |
| Net debt / equity | 1.57× | 0.62× |
| Current ratio | 1.71× | 1.89× |
| Revenue CAGR 5y | −5.0% | 6.7% |
| Profit CAGR 5y | −9.8% | · |
TMO bills 1.8× the revenue of MMM, and keeps more of each dollar of revenue as profit (15.1% against 13.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MMM | TMO |
|---|---|---|
| FY2025 | $24.9B | $44.6B |
| FY2024 | $24.6B | $42.9B |
| FY2023 | $24.6B | $42.9B |
| FY2022 | $26.2B | $44.9B |
| FY2021 | $35.4B | $39.2B |
| FY2020 | $32.2B | $32.2B |
| FY2019 | $32.1B | $25.5B |
| FY2018 | $32.8B | $24.4B |
| FY2017 | $31.7B | $20.9B |
| FY2016 | $30.1B | $18.3B |
Bottom line
| Fiscal year | MMM | TMO |
|---|---|---|
| FY2025 | $3.2B | $6.7B |
| FY2024 | $4.2B | $6.3B |
| FY2023 | $-7.0B | $6.0B |
| FY2022 | $5.8B | $7.0B |
| FY2021 | $5.9B | $7.7B |
| FY2020 | $5.4B | $6.4B |
| FY2019 | $4.5B | $3.7B |
| FY2018 | $5.3B | $2.9B |
| FY2017 | $4.9B | $2.2B |
| FY2016 | $5.0B | $2.0B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$19,608,000,000 | TMO |
| FY2024 | −$18,304,000,000 | TMO |
| FY2023 | −$18,247,000,000 | TMO |
| FY2022 | −$18,754,000,000 | TMO |
| FY2021 | −$3,856,000,000 | TMO |
| FY2020 | −$34,000,000 | TMO |
| FY2019 | +$6,594,000,000 | MMM |
| FY2018 | +$8,407,000,000 | MMM |
| FY2017 | +$10,739,000,000 | MMM |
| FY2016 | +$11,835,000,000 | MMM |
| FY2015 | +$13,309,000,000 | MMM |
| FY2014 | +$14,931,400,000 | MMM |
| FY2013 | +$17,780,700,000 | MMM |
| FY2012 | +$17,394,100,000 | MMM |
| FY2011 | +$18,052,200,000 | MMM |
| FY2010 | +$16,268,900,000 | MMM |
| FY2009 | +$13,211,400,000 | MMM |
| FY2008 | +$14,771,000,000 | MMM |
| FY2007 | +$14,715,600,000 | MMM |
The higher-revenue side has changed between MMM and TMO over this period. The gap has widened since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
14 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −2.0 pp | TMO |
| FY2024 | +2.3 pp | MMM |
| FY2023 | −42.3 pp | TMO |
| FY2022 | +6.6 pp | MMM |
| FY2021 | −2.9 pp | TMO |
| FY2020 | −2.9 pp | TMO |
| FY2019 | −0.4 pp | TMO |
| FY2013 | +5.6 pp | MMM |
| FY2012 | +5.7 pp | MMM |
| FY2011 | +3.2 pp | MMM |
| FY2010 | +5.6 pp | MMM |
| FY2009 | +5.5 pp | MMM |
| FY2008 | +4.6 pp | MMM |
| FY2007 | +9.3 pp | MMM |
The higher net margin has changed hands between MMM and TMO over this period.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MMM's net margin has been more volatile than TMO's over the 14 comparable fiscal years — 11.6 percentage points of standard deviation against 3.8.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MMM and TMO over these 14 fiscal years — MMM led in 9 and TMO in 5.
14 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MMM's return on equity has been more volatile than TMO's over the 19 comparable fiscal years — 30.7 percentage points of standard deviation against 4.3.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between MMM and TMO over these 19 fiscal years — MMM led in 18 and TMO in 1.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.