3M Co (MMM) is overvalued and Valmont Industries Inc (VMI) is overvalued.
Both trade above our estimate of their intrinsic value. VMI is the closer of the two: -23%, against -94% for MMM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.3% (average of 3 methods) values the shares at $87.07; the price of $169.30 is 94% above that value, and 74% of that value comes from beyond year five.
Leak Score 49/100 on 10 of 12 signals
Discounting its cash flows at 10.7% (average of 3 methods) values the shares at $380.52; the price of $468.01 is 23% above that value, and 70% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | MMM | VMI |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $169.30 | $468.01 |
| Intrinsic value | $87.07 | $380.52 |
| Margin of safety | -94% | -23% |
| Leak Score | 49/100 (10/12) | 59/100 (3/12) |
| Market cap | $87.3B | $9.0B |
| Revenue growth, 5 years | -5.0% | 7.2% |
| Operating margin | 20.9% | 13.8% |
| Net margin | 11.9% | 11.9% |
| Return on equity | 82.8% | 31.1% |
| Debt to equity | 4.46 | 0.50 |
| P/E | 30.1x | 18.2x |
| Forward P/E | 17.2x | 18.0x |
| P/B | 29.6x | 5.1x |
| Dividend yield | 1.9% | 0.7% |