3M vs Honeywell International: Business Model & Financial Comparison 2026
3M · Industrials / Conglomerates·Honeywell International · Industrials / Conglomerates
Financial Comparison
| Metric | MMM3M | HONHoneywell International |
|---|---|---|
| Market Cap | $79.51B | $149.07B |
| Revenue (TTM) | $24.95B | $37.44B |
| Revenue Growth | 2.0% | -3.3% |
| Gross Margin | 39.9% | 36.9% |
| Operating Margin | 12.4% | 15.4% |
| Net Margin | 13.0% | 12.6% |
| Return on Equity | 75.5% | 26.1% |
| P/E (Trailing) | 25.2x | 33.8x |
| P/E (Forward) | 16.1x | 20.4x |
| Free Cash Flow | $1.26B | $4.66B |
| Cash | $7.93B | $12.93B |
| Total Debt | $13.13B | $35.56B |
Data sourced from Yahoo Finance. Green highlights indicate better performance for that metric. Use the interactive tool for real-time data.
Business Model Comparison
3M
3M Company stands as a leading company in Industrials. Generating $24.95 billion in annual revenue (growing 2.0% year-over-year) and carrying a market capitalization of $82.28 billion, the company has cemented its position as a foundational player in the global Conglomerates landscape. Under the leadership of its leadership team, 3M Company continues to execute on a multi-year strategic vision that balances growth investment with shareholder retu…
Full 3M analysis →Honeywell International
Honeywell International Inc. stands as a leading company in Industrials. Generating $37.44 billion in annual revenue (growing -3.3% year-over-year) and carrying a market capitalization of $160.64 billion, the company has cemented its position as a foundational player in the global Conglomerates landscape. Under the leadership of its leadership team, Honeywell International Inc. continues to execute on a multi-year strategic vision that balances g…
Full Honeywell International analysis →SWOT Analysis Comparison
Strengths
3M
- 3M Company maintains a gross margin of 39.9% and operating margin of 12.4%, demonstrating consistent operational execution and cost discipline in a competitive market.
- A return on equity of 75.5% demonstrates that 3M Company generates strong returns from shareholder capital, a hallmark of companies with durable competitive advantages.
- 3M Company generated $1.26B in free cash flow, providing financial flexibility to invest in growth initiatives, return capital to shareholders, or strengthen the balance sheet.
Honeywell International
- With a market capitalization of $160.64B, Honeywell International Inc. is one of the largest companies in its sector, providing the scale advantages of brand recognition, supplier leverage, and capita
- Honeywell International Inc. maintains a gross margin of 36.9% and operating margin of 15.4%, demonstrating consistent operational execution and cost discipline in a competitive market.
- A return on equity of 26.1% demonstrates that Honeywell International Inc. generates strong returns from shareholder capital, a hallmark of companies with durable competitive advantages.
Weaknesses
3M
- With a debt-to-equity ratio of 276.6, 3M Company carries significant debt relative to equity. While manageable given its cash flow, elevated leverage limits financial flexibility and increases vulnera
- Revenue growth of 2.0% is below what growth investors typically seek, suggesting market saturation in core businesses or increasing competitive pressure.
Honeywell International
- With a debt-to-equity ratio of 236.6, Honeywell International Inc. carries significant debt relative to equity. While manageable given its cash flow, elevated leverage limits financial flexibility and
- Year-over-year revenue declined 3.3%, raising questions about demand for Honeywell International Inc.'s core offerings and requiring management to articulate a credible recovery path.
- With 101,000 employees globally, Honeywell International Inc. faces inherent challenges in agility, decision-making speed, and maintaining a consistent culture across geographies — advantages that sma
Opportunities
3M
- 3M Company operates in the Conglomerates segment of the broader Industrials sector, which represents a $8.4 trillion global industrial market. Even modest share gains in this environment translate to
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for 3M Comp
- With $7.93B in cash and strong free cash flow generation, 3M Company is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic reach.
Honeywell International
- Honeywell International Inc. operates in the Conglomerates segment of the broader Industrials sector, which represents a $8.4 trillion global industrial market. Even modest share gains in this environ
- Emerging markets — particularly India (1.4B people, rapidly growing middle class), Southeast Asia (700M people), and Sub-Saharan Africa — represent significant untapped addressable markets for Honeywe
- With $12.93B in cash and strong free cash flow generation, Honeywell International Inc. is well-positioned to pursue strategic acquisitions that expand its capabilities, customer base, or geographic r
Threats
3M
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. 3M Company's revenue is not fully insulated from macroeconomic cycles, and a recession scena
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on 3M Company's busine
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
Honeywell International
- Global economic slowdowns, inflation, or rising interest rates can reduce consumer and enterprise spending. Honeywell International Inc.'s revenue is not fully insulated from macroeconomic cycles, and
- Increasing government regulation — particularly data privacy laws (GDPR, CCPA), antitrust enforcement, and trade restrictions — poses compliance costs and potential restrictions on Honeywell Internati
- Competition for skilled technology, engineering, and management talent remains intense. High employee turnover or inability to attract top talent could slow innovation and execution — particularly cri
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Open Comparison Tool3M vs Honeywell International: FAQ
- Is 3M bigger than Honeywell International?
- By market capitalization, Honeywell International is larger at $149.07B vs 3M's $79.51B.
- Which has better profit margins — 3M or Honeywell International?
- 3M has higher net profit margins (13.0%) compared to Honeywell International (12.6%). Gross and operating margins are compared in the table above.
- What sectors do 3M and Honeywell International operate in?
- 3M operates in the Industrials sector (Conglomerates). Honeywell International operates in the Industrials sector (Conglomerates).
- How does 3M's revenue compare to Honeywell International's?
- 3M generates $24.95B in annual revenue (TTM) while Honeywell International generates $37.44B. Honeywell International is the larger company by revenue as of 2026.