MMM drawdown: 20.2% below the all-time high
3M Company (MMM) is 20.2% below its all-time high, set Jan 26, 2018 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1970).
- Below all-time high
- −20.2%
- 79.8% of ATH
- All-time high
- $216.2
- Jan 26, 2018
- Time below the high
- 8.5 yrs
- since Jan 26, 2018
- Worst-ever drawdown
- −66.9%
- Oct 23, 2023
- Longest underwater
- 12.2 yrs
- between all-time highs
- Today's level first reached
- Jun 2, 2017
- 9.1 yrs ago
- Last time this deep
- Dec 19, 2011
- in a previous episode
% of all-time high since 1970#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of MMM, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | Oct 23, 2023 | −66.9% | 5.7 yrs | not yet | 8.5 yrs+ |
| Oct 5, 2007 | Mar 6, 2009 | −56.4% | 17 mo | Apr 26, 2011 | 3.6 yrs |
| Sep 26, 1973 | Apr 4, 1978 | −52.2% | 4.5 yrs | Dec 17, 1985 | 12.2 yrs |
| Jan 14, 1970 | Jul 7, 1970 | −37.4% | 6 mo | Mar 18, 1971 | 14 mo |
| Oct 1, 1987 | Oct 26, 1987 | −34.9% | 25 days | Jan 11, 1990 | 2.3 yrs |
| Jul 14, 1997 | Sep 1, 1998 | −34.2% | 14 mo | Dec 4, 2000 | 3.4 yrs |
| May 16, 2001 | Sep 21, 2001 | −30.7% | 4 mo | Apr 24, 2002 | 11 mo |
| Jul 7, 2011 | Oct 3, 2011 | −27.6% | 3 mo | Jan 17, 2013 | 1.5 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1970: how far MMM stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: MMM is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is MMM from its all-time high?
- MMM is currently 20.2% below its all-time high, set Jan 26, 2018 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest MMM drawdown ever?
- The deepest decline on record in our data (since 1970) took the stock 66.9% below its prior high, bottoming Oct 23, 2023. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1970 (split-adjusted). "All-time" means since our price data begins — MMM may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.