3M (MMM), measured in bitcoin
One 3M share costs 195,775 sats today ($162.77). That's 49% more sats than a year ago, so over the past year the stock beat holding bitcoin. Since 2019, its shareholder return has been +1.7% a year in dollars, slower than the money supply grew (+6.6%), and −30% a year measured in bitcoin.
Next earnings: Tuesday, October 20 before the open.
What one share costs in bitcoin today ($162.77). One bitcoin is 100 million sats.
More sats per share than a year ago. Above zero means the stock beat simply holding bitcoin.
Cash the business produces per share, plus how fast that grows, since 2019. Trailed new dollars (+6.6%/yr); trailed bitcoin (+1.8%/yr new supply).
What each $1 it spent buying back its own stock since 2019 is worth today, versus the same $1 in bitcoin bought at the same times. Bitcoin wins.
$6.5 billion of revenue in the quarter to Jun 30, 2026, at that quarter's average price: ₿90,742 of the 21 million that will ever exist.
Since mid-2022 it paid shareholders $7.4 billion more than its business generated; the gap came from paid out 169% of free cash flow.
How it compares: industrials
Sorted by the past year in bitcoin. Within the same window every stock is divided by the same bitcoin price, so the order matches dollars; what bitcoin adds is the line at zero: above it, the stock beat holding bitcoin.
| Company | Sats per share | Past year, ₿ | Vs 2019 avg, ₿ | Shareholder return, ₿ |
|---|---|---|---|---|
| FedEx FDX | 349,513 | +122% | −84% | – |
| GE Vernova GEV | 1,207,629 | +115% | n/a | – |
| Caterpillar CAT | 929,477 | +112% | −56% | −20%/yr |
| Deere & DE | 781,800 | +105% | −70% | −15%/yr |
| Emerson Electric EMR | 196,653 | +77% | −82% | −23%/yr |
| Union Pacific UNP | 339,614 | +73% | −87% | −23%/yr |
| RTX RTX | 220,131 | +60% | −82% | −21%/yr |
| United Parcel Service UPS | 114,011 | +58% | −93% | −16%/yr |
| 3M MMM | 195,775 | +49% | −92% | −30%/yr |
| GE Aerospace GE | 370,008 | +43% | −54% | −26%/yr |
| Lockheed Martin LMT | 606,220 | +39% | −89% | −18%/yr |
| General Dynamics GD | 399,825 | +38% | −86% | −10%/yr |
| Boeing BA | 224,305 | +20% | −96% | – |
| Uber UBER | 85,782 | +5.2% | −78% | – |
Questions
- How many sats is one 3M share?
- 195,775 sats ($162.77) at the close on October 13, 2026, or 0.00196 bitcoin.
- Has 3M beaten bitcoin?
- Measured by share price, no: a share costs 92% fewer sats than its 2019 average (in dollars: +5.5%). Measured by the business (cash generated per share and its growth), −30% a year in bitcoin terms, behind bitcoin's supply growth.
- Did 3M's buybacks beat bitcoin?
- No. It spent $13.5 billion buying back its own stock since 2019. Each $1 is now worth $1.13 in shares; the same $1 in bitcoin, bought at the same times, would be worth $3.15. (Per dollar: at that size the buying itself would have moved bitcoin's price.)