The ratings on 3M Co. reflect its leading market positions, good product diversity, and strong financial profile. The company makes more than 60,000 products for the industrial, consumer, and life sciences markets. 3M's business mix benefits from broad product and customer diversity and, with its broad portfolio of businesses, 3M's overall earnings and cash flow performance are stable during business cycles. 3M excels at developing new products and leveraging key core technologies such as adhesives, films, and abrasives. As a result, the company's returns on capital consistently exceed 25%. Standard&Poor's expects 3M to maintain its strong financial profile, limiting total debt to EBITDA to around 1x. Management has been trying, with some success, to make operating and financial
