The following video is part of our "Motley Fool Conversations" series, in which Industrials editor/analyst Isaac Pino discusses topics across the investing world.

In today's edition, Isaac takes a cue from Fool colleague Dan Dzombak, who recently described a time-tested tool for uncovering companies with above average cash flows. Isaac applies this tool to to identify the cheapest Dow components and finds 3M near the top of the list. A diversified manufacturer of everything from Post-it Notes to health care equipment, 3M's approach to beating its competitors is all about innovation. And the number of business lines keeps on growing. 3M recently acquired Federal Signal for $110 million in cash to venture into hardware and software used in electronic tolling, parking, and law enforcement. At the same time, the company leverages its materials technologies to design a natural gas fuel tank with Chesapeake Energy. For an everyday investor, 3M might be one of the most fail-safe stocks due to its pristine balance sheet and international presence.

With Europe in shambles, many investors may be nervous about investing in a company that's internationally focused, but they shouldn't be. Emerging markets are giving new life to established American companies with deep pockets. As these industry titans look abroad for more sales, they aren't starting with a blank slate -- they're bringing their operational excellence to new markets and thriving. To uncover these picks today, we invite you to read a copy of our free report: "3 American Companies Set to Dominate the World." The report won't be available forever, so we invite you to click here to get your copy today!

Isaac Pino has no positions in the stocks mentioned above. The Motley Fool owns shares of Microsoft and has the following options: long JAN 2013 $16.00 calls on Chesapeake Energy, long JAN 2013 $25.00 calls on Chesapeake Energy, long JAN 2014 $20.00 calls on Chesapeake Energy, and long JAN 2014 $30.00 calls on Chesapeake Energy. Motley Fool newsletter services recommend 3M and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.