Honeywell (HON) vs 3M (MMM): Stock Comparison
Data as of November 7, 2026. Refreshed weekly from SEC filings and market data.
Honeywell is cheaper on earnings, at 9.7 times against 27.1; Honeywell keeps the higher net margin (23.0% against 14.0%); Honeywell grew revenue faster over the last year (4.2% against 1.7%); Honeywell pays the higher dividend yield (3.8% against 1.7%). Honeywell clears 5 of this site's 8 value filters and 3M 3. Figures are as of November 7, 2026; each is on the page below with its source.
How do Honeywell and 3M compare on the numbers?
| Measure | Honeywell (HON) | 3M (MMM) | Clearer lead |
|---|---|---|---|
| Share price | $220.05 | $185.15 | |
| Market value | $68.5 billion | $96.0 billion | |
| P/E ratio (trailing) | 9.7 | 27.1 | HON |
| PEG ratio | 0.53 | 3.06 | HON |
| Free-cash-flow yield | 3.5% | 2.8% | About the same |
| Net profit margin | 23.0% | 14.0% | HON |
| Revenue growth, last year | 4.2% | 1.7% | HON |
| Return on equity | 41.2% | 94.0% | MMM |
| Debt to equity | 0.74 | 3.63 | HON |
| Dividend yield | 3.8% | 1.7% | HON |
| Margin of safety (DCF) | -67.6% | -106.5% | HON |
| Value filters passed (of 8) | 5 | 3 | HON |
| Distance from 52-week high | -11.6% | -4.5% |
How have Honeywell and 3M shares done against each other?
Honeywell 1033M 122
Each share price set to 100 on Nov 2021, to Nov 2026. Price only: dividends are not included.
From Nov 2021 to Nov 2026, Honeywell shares are up 3% and 3M shares up 22%, so 3M has pulled ahead of Honeywell by 19 points of the starting price. The deepest fall from a prior high in that window was 25% for Honeywell and 52% for 3M.
| Period | Honeywell (HON) | 3M (MMM) |
|---|---|---|
| Last 1 year | +12.3% | +13.0% |
| Last 3 years | +24.5% | +136.8% |
| Last 5 years | +3.3% | +21.8% |
Which has grown faster, Honeywell or 3M?
Over 5 years, Honeywell grew revenue 2.8% a year and earnings per share 1.8% a year; 3M grew revenue -5.0% and earnings per share -8.5%. Its net margin averaged 15.3% at Honeywell and 8.1% at 3M.
| Measure | Honeywell (HON) | 3M (MMM) |
|---|---|---|
| Latest fiscal year ended | Dec 2025 | Dec 2025 |
| Revenue, first year to latest | $32.6 billion to $37.4 billion | $32.2 billion to $24.9 billion |
| Revenue growth per year | 2.8% | -5.0% |
| Earnings per share, first year to latest | $6.72 to $7.36 | $9.36 to $6.00 |
| Earnings per share growth per year | 1.8% | -8.5% |
| Net margin, latest year | 12.6% | 13.0% |
| Net margin, average of the years | 15.3% | 8.1% |
| Free cash flow margin, latest year | 14.5% | 5.6% |
From each company's 10-K filings (SEC EDGAR), over its latest 5 years.
What growth does each share price assume?
| Measure | Honeywell (HON) | 3M (MMM) |
|---|---|---|
| Free cash flow growth the price implies | 21.2% a year | 26.7% a year |
| Free cash flow per share | $7.69 | $5.25 |
| Margin of safety on this site's DCF | -67.6% | -106.5% |
At $220.05, Honeywell's price implies free cash flow growth of 21.2% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
At $185.15, 3M's price implies free cash flow growth of 26.7% a year, fading to 2.5% over 10 years. That is more growth than the 8% baseline.
The same model and baseline as every stock page. A price that asks for less growth is not a better company, only a lower bar to clear.
Where is each stronger?
Where Honeywell leads
- Lower P/E: 9.7 against 27.1
- Lower PEG: 0.53 against 3.06
- Higher net margin: 23.0% against 14.0%
- Faster revenue growth last year: 4.2% against 1.7%
- Less debt for its equity: 0.74 against 3.63
- Higher dividend yield: 3.8% against 1.7%
- Higher margin of safety on this site's DCF: -67.6% against -106.5%
- More of the 8 value filters: 5 against 3
- Faster revenue growth over its filed record: 2.8% against -5.0%
- Faster earnings-per-share growth over its filed record: 1.8% against -8.5%
- A higher average net margin: 15.3% against 8.1%
- A higher free-cash-flow margin in its latest filed year: 14.5% against 5.6%
Where 3M leads
- Higher return on equity: 94.0% against 41.2%
About the same on: free-cash-flow yield, net margin, latest year. A lead needs a clear gap (10% apart on a ratio, 1 point on a percentage), so a rounding difference never names a winner. A lead on one measure is not a verdict on the company.
How do the businesses differ?
Honeywell. Honeywell is a diversified industrial-technology company selling aerospace products, building controls and safety systems, and industrial automation and process technology.
3M. 3M is an industrial company that makes adhesives, abrasives, protective materials, electronics components and medical products, sold to manufacturers, hospitals and consumers.
Both are in the Industrial Conglomerates industry on this site.
What stands out about Honeywell
- Misses 1 of the 8 value filters. It fails EPS Growth YoY > -5% (-63.6%); the other 5 pass and 2 were not evaluated.
- The margin of safety is falling. It went from +21% on Oct 7 to -68% on Nov 7 across 8 weekly readings.
- Strongest against peers: P/E ratio. At 9.7× (peer median 26.8×) it ranks 1st of 32 among industrials stocks this site tracks.
What stands out about 3M
- Misses 3 of the 8 value filters. It fails Trailing P/E < 25 (27.14), PEG Ratio < 1.5 (3.06) and Price/Book < 8 (23.25); the other 3 pass and 2 were not evaluated.
- Strongest against peers: return on equity. At 94% (peer median 33%) it ranks 3rd of 33 among industrials stocks this site tracks.
- Weakest against peers: debt / equity. At 3.63 (peer median 0.81) it ranks 31st of 33 among industrials stocks this site tracks.
Frequently asked questions about Honeywell and 3M
Which is cheaper, Honeywell or 3M?
On trailing earnings, Honeywell is cheaper: Honeywell trades at 9.7 times and 3M at 27.1 times. On free cash flow, the yields are 3.5% and 2.8%. Cheaper is not the same as better value: read the growth each price assumes below.
Which pays the higher dividend, Honeywell or 3M?
Honeywell pays the higher yield: Honeywell 3.8% and 3M 1.7% over the last year.
Which has grown faster, Honeywell or 3M?
Over their latest filed five years, Honeywell grew revenue 2.8% a year and 3M -5.0%; earnings per share grew 1.8% and -8.5% a year.
Which has more debt, Honeywell or 3M?
3M has more debt for its equity: debt to equity is 0.74 for Honeywell and 3.63 for 3M. A very high figure can also come from buybacks that shrank equity.
Which is more profitable, Honeywell or 3M?
Honeywell keeps more of each sales dollar as profit: 23.0% for Honeywell and 14.0% for 3M, with a return on equity of 41.2% and 94.0%.
Which passes more of the 8 value filters?
Honeywell clears more: Honeywell 5 of 8 and 3M 3 of 8. The filters are this site's own value rules, not a prediction.
Where do these numbers come from?
Prices, ratios and yield are from this site's weekly data as of November 7, 2026; growth and margins by year are from each company's 10-K filings (sources on Honeywell and 3M). The DCF is the same model on every stock page. See Editorial Standards. Educational, not investment advice.