Waste Management Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	25,204	22,063	20,426	19,698	17,931
Revenue Growth (YoY)	14.24%	8.01%	3.70%	9.85%	17.83%
Cost of Revenue	15,012	13,383	12,606	12,294	11,111
Gross Profit	10,192	8,680	7,820	7,404	6,820
Selling, General & Admin	2,633	2,104	1,926	1,938	1,864
Operating Expenses	5,496	4,371	3,997	3,976	3,863
Operating Income	4,696	4,309	3,823	3,428	2,957
Interest Expense	-912	-598	-500	-378	-365
Earnings From Equity Investments	10	4	-60	-67	-36
Other Non Operating Income (Expenses)	20	-11	6	-2	5
EBT Excluding Unusual Items	3,814	3,704	3,269	2,981	2,561
Merger & Restructuring Charges	-345	-164	-5	-51	-8
Impairment of Goodwill	-16	-	-168	-	-
Gain (Loss) on Sale of Investments	-	-54	-107	-	-
Gain (Loss) on Sale of Assets	-	-14	-	5	44
Asset Writedown	-	-	-	-	-8
Other Unusual Items	-27	-14	32	-17	-240
Pretax Income	3,426	3,458	3,021	2,918	2,349
Income Tax Expense	717	713	745	678	532
Earnings From Continuing Operations	2,709	2,745	2,276	2,240	1,817
Minority Interest in Earnings	-1	1	28	-2	-1
Net Income	2,708	2,746	2,304	2,238	1,816
Net Income to Common	2,708	2,746	2,304	2,238	1,816
Net Income Growth	-1.38%	19.18%	2.95%	23.24%	21.39%
Shares Outstanding (Basic)	403	402	405	413	420
Shares Outstanding (Diluted)	404	403	407	415	423
Shares Change (YoY)	0.20%	-0.86%	-1.95%	-1.87%	-0.52%
EPS (Basic)	6.72	6.84	5.69	5.42	4.32
EPS (Diluted)	6.70	6.81	5.66	5.39	4.29
EPS Growth	-1.62%	20.32%	5.01%	25.64%	21.88%
Free Cash Flow	2,816	2,159	1,824	1,949	2,434
Free Cash Flow Per Share	6.97	5.35	4.48	4.70	5.75
Dividend Per Share	3.300	3.000	2.800	2.600	2.300
Dividend Growth	10.00%	7.14%	7.69%	13.04%	5.50%
Gross Margin	40.44%	39.34%	38.29%	37.59%	38.04%
Operating Margin	18.63%	19.53%	18.72%	17.40%	16.49%
Profit Margin	10.74%	12.45%	11.28%	11.36%	10.13%
Free Cash Flow Margin	11.17%	9.79%	8.93%	9.89%	13.57%
EBITDA	7,559	6,576	5,894	5,466	4,956
EBITDA Margin	29.99%	29.80%	28.85%	27.75%	27.64%
D&A For EBITDA	2,863	2,267	2,071	2,038	1,999
EBIT	4,696	4,309	3,823	3,428	2,957
EBIT Margin	18.63%	19.53%	18.72%	17.40%	16.49%
Effective Tax Rate	20.93%	20.62%	24.66%	23.23%	22.65%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.