3M vs Meta: Revenue, Profit and Business Model
3M reported $24.9B of revenue in FY2025 and $3.3B of net income. Meta reported $201B of revenue in FY2025 and $60.5B of net income.
Latest financial snapshot
Financial summary
3M
3M has long been a steady dividend payer. Its revenue is spread across many industries, which makes it resilient in downturns. Its balance sheet has been strained by multi-billion dollar legal settlements over PFAS chemicals and combat earplugs. The underlying business still generates strong cash flow because it has pricing power on its specialized industrial products.
Meta
Meta's revenue grew from $116.609B in 2022 to $200.966B in 2025, and net income rose from $23.2B to $60.458B. FY2025 income from operations was $83.276B. In 2026 the story is spending: Q2 2026 costs rose 55% to $42.03B, the operating margin fell to 31% from 43%, and quarterly capex of $31.08B left free cash flow at $784M. Meta had $90.26B of cash and marketable securities and $83.66B of long-term debt at June 30, 2026. It expects 2026 total expenses of $165-169B and still expects 2026 operating income to exceed 2025.
Revenue and profit by year
3M
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $24.9B | $3.3B | 13.0% | +1.5% | Source |
| FY2024 | $24.6B | $4.2B | 17.0% | -0.1% | Source |
| FY2023 | $24.6B | -$7B | -28.4% | -5.9% | Source |
| FY2022 | $26.2B | $5.8B | 22.1% | -26.0% | Source |
| FY2021 | $35.4B | $5.9B | 16.7% | +9.9% | Source |
| FY2020 | $32.2B | $5.4B | 16.9% | +0.1% | Source |
| FY2019 | $32.1B | $4.5B | 14.1% | -1.9% | Source |
| FY2018 | $32.8B | $5.3B | 16.3% | +3.5% | Source |
| FY2017 | $31.7B | $4.9B | 15.3% | +5.1% | Source |
| FY2016 | $30.1B | $5B | 16.8% | — | Source |
Meta
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $201B | $60.5B | 30.1% | +22.2% | Source |
| FY2024 | $164.5B | $62.4B | 37.9% | +21.9% | Source |
| FY2023 | $134.9B | $39.1B | 29.0% | +15.7% | Source |
| FY2022 | $116.6B | $23.2B | 19.9% | -1.1% | Source |
| FY2021 | $117.9B | $39.4B | 33.4% | +37.2% | Source |
| FY2020 | $86B | $29.1B | 33.9% | +21.6% | Source |
| FY2019 | $70.7B | $18.5B | 26.1% | +26.6% | Source |
| FY2018 | $55.8B | $22.1B | 39.6% | +37.4% | Source |
| FY2017 | $40.7B | $15.9B | 39.2% | +47.1% | Source |
| FY2016 | $27.6B | $10.2B | 37.0% | — | Source |
Where the revenue comes from
3M
- Safety and Industrial Segment~46%
The Safety and Industrial segment is 3M's largest revenue contributor, generating $11.4 billion of net sales in fiscal year 2025. This segment manufactures and sells personal protective equipment including N95 respirators, hearing protection, and eye protection; industrial abrasives including Cubitron II ceramic abrasives; adhesive tapes and specialty bonding products for industrial applications; electrical insulation and electrical products; and roofing granules. Customers include construction companies, automotive manufacturers, oil and gas producers, aerospace manufacturers, and general industrial enterprises globally. The segment's competitive strength rests on 3M's proprietary materials science capabilities that allow it to engineer products meeting demanding performance specifications in safety and industrial applications where failure consequences are significant.
- Transportation and Electronics Segment~33%
The Transportation and Electronics segment generated $8.3 billion of net sales in fiscal year 2025, serving automotive original equipment manufacturers, electronics assemblers, semiconductor fabricators, and aerospace manufacturers with advanced specialty materials. Key product categories include light management films for display applications, conductive adhesives and specialty tapes for electronics assembly, automotive structural adhesives that enable vehicle lightweighting, thermal management materials for electric vehicle battery systems, and specialty chemicals for semiconductor processing. This segment is positioned at the intersection of the electrification and digitalization trends that are driving the most significant changes in global manufacturing, making it a strategic growth focus for 3M's leadership.
- Consumer Segment~20%
The Consumer segment generated $4.9 billion of net sales in fiscal year 2025, selling branded products including Post-it Notes, Scotch tape, Command adhesive strips, Filtrete home air filters, and other home improvement and office products through mass retail, office supply, home improvement, and e-commerce channels. While the smallest of 3M's post-Solventum segments by revenue, the Consumer business plays a strategic role in maintaining brand awareness with individual consumers and institutional purchasers who interact with 3M products in personal contexts.
Meta
- Advertising
~97.6% (FY2025)
Ads across Facebook, Instagram, Messenger, Threads and WhatsApp; $196.175B in FY2025.
- Other revenue and Reality Labs
~2.4% (FY2025)
WhatsApp Business messaging, Meta Verified subscriptions, Quest headsets and Ray-Ban Meta glasses.
Business model and strategy
3M
How it makes money
3M's business model is basically acting as a giant, outsourced R&D department for the rest of the world. They pour billions into scientific research to invent proprietary materials. Once they hold the patent, they figure out how to sell that material to as many different industries as possible.
Growth strategy
3M is currently trying to shed its slower-growing legacy businesses to focus entirely on the future. They recently spun off their large healthcare division to streamline their operations. Going forward, they are heavily targeting high-growth megatrends like electric vehicle manufacturing, climate tech, and home improvement.
Competitive advantage
The biggest competitive advantage 3M has is its patent portfolio and its culture of cross-pollination. If a 3M scientist invents a new type of ceramic for an airplane engine, another scientist might realize that same ceramic can be used for dental braces. This ability to reuse foundational R&D across dozens of markets gives them a large economy of scale that pure-play competitors just can't replicate.
Meta
How it makes money
Meta makes money by selling ads. Facebook, Instagram, Messenger, WhatsApp and Threads are free to use, and advertisers pay to reach people in feeds, Stories, Reels and click-to-message formats. Advertising produced $196.175B of Meta's $200.966B FY2025 revenue, about 97.6%. Q2 2026 growth came from 14% more ad impressions and a 12% higher average price per ad.
Growth strategy
Meta's growth plan runs through AI. Better ranking and ad-delivery models raise engagement on Reels and feeds and lift ad prices, which drove the 28% revenue growth in Q2 2026. Meta Superintelligence Labs, led by former Scale AI CEO Alexandr Wang, released the first Muse Spark model in April 2026, followed by a paid API and the Muse consumer AI agent in September 2026.
Competitive advantage
Meta's moat is distribution plus data. Its apps reach 3.60 billion people every day, so new products such as Threads, Meta AI and Muse can launch to a huge audience at once. Advertisers stay because Meta's AI ad tools such as Advantage+ convert across that audience at a scale only Google matches. Meta also owns its compute, custom MTIA chips and frontier models, which reduces its dependence on outside AI suppliers.
Questions about 3M vs Meta
Which company has higher revenue — 3M Company or Meta Platforms, Inc.?
3M Company reported $24.9B (FY2025), while Meta Platforms, Inc. reported $201.0B (FY2025). By last reported revenue, Meta Platforms, Inc. is the larger business, with 3M Company reporting a smaller revenue base.
What is the market cap of 3M Company vs Meta Platforms, Inc.?
3M Company's market capitalisation stands at $86.4B, while Meta Platforms, Inc.'s is $1.90T. Meta Platforms, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to 3M Company.
Which is more financially efficient — 3M Company or Meta Platforms, Inc.?
3M Company generates $412k / employee in revenue per employee, while Meta Platforms, Inc. generates $2.66M / employee. Meta Platforms, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do 3M Company and Meta Platforms, Inc. make money?
3M Company and Meta Platforms, Inc. generate revenue in fundamentally different ways. 3M Company: 3M's business model is basically acting as a giant, outsourced R&D department for the rest of the world. Meta Platforms, Inc.: Meta makes money by selling ads.
Which company is valued higher relative to revenue — 3M Company or Meta Platforms, Inc.?
On a price-to-sales (P/S) basis, 3M Company trades at 3.5x P/S and Meta Platforms, Inc. at 9.5x P/S. Meta Platforms, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to 3M Company. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is 3M Company bigger than Meta Platforms, Inc.?
By last reported revenue, Meta Platforms, Inc. ($201.0B (FY2025)) is the larger company compared to 3M Company ($24.9B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the 3M vs Meta overview