The ratings on St. Paul, Minn.-based 3M Co. reflect its leading market positions, good product diversity, and strong financial profile; its focus on increasing shareholder return; and its commitment to accelerating growth from the current portfolio. With more than 60,000 products for the industrial, consumer, and life-sciences markets, and a global presence, 3M is able to generate stable earnings and cash flow during business cycles. The company excels at developing new products and leveraging core technologies such as adhesives, films, and abrasives, resulting in returns on capital that consistently exceed 30%. The broad portfolio effect of diverse end markets, combined with a number of strong, leading brands, offsets the competitive nature of many of its businesses. Manufacturing scale allows economies
