3M COMPANY vs ResMed Inc., two Medical Devices stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
3M is a diversified industrial conglomerate; ResMed makes sleep-apnea and respiratory devices, and only the sector bucket lumps them together. ResMed earns a clean 23.41% return on equity at a fat 27.44% net margin, nearly debt-free, and converts 6.01% to free cash. 3M trades at 31.62 times earnings against ResMed's 19.31 and carries heavy debt, 3.79 turns. The pair contrasts a sprawling industrial with a focused medical-device maker: ResMed earns higher margins and returns on a cleaner balance sheet in respiratory care, 3M is a diversified manufacturer trading at a richer multiple as it works through its legal and restructuring overhangs.
Comparison updated 2026-07-11.
| Metric | MMM | RMD |
|---|---|---|
| Price | $157.46 | $203.85 |
| Market cap | $83.9B | $29.7B |
| Sector | Medical Devices | Medical Devices |
| Stage | Mature | Mature |
| Implied growth (priced in) | -2.9% | +6.7% |
| P/E | 30.3 | 19.7 |
| P/B | 25.34 | 4.58 |
| P/S | 3.35 | 5.36 |
| EV/EBITDA | 18.9 | 13.6 |
| Revenue growth | +2.1% | +10.3% |
| Gross margin | — | 62.3% |
| Operating margin | 23.2% | 34.9% |
| Net margin | 11.1% | 27.4% |
| Return on equity | 84.2% | 23.4% |
| Return on assets | 7.9% | 17.3% |
| Return on invested capital | 22.5% | 21.0% |
| FCF yield | 2.5% | 5.9% |
| Dividend yield | 1.9% | 1.0% |
| Debt / equity | 3.79 | 0.10 |
| Current ratio | 1.59 | 3.01 |
| Altman Z (solvency) | 4.09 | 8.30 |
| Piotroski F (quality) | 6 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.