Waste Management, Inc. (WM)

Waste Management Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	26,070	25,204	22,063	20,426	19,698	17,931
Revenue Growth	5.19%	14.24%	8.01%	3.70%	9.85%	17.83%
Gross Profit Gross Profit Growth	10,529	10,192	8,680	7,820	7,404	6,820
Operating Income Operating Income Growth	4,931	4,696	4,309	3,823	3,428	2,957
Net Income Net Income Growth	3,070	2,708	2,746	2,304	2,238	1,816
Earnings Per Share EPS Growth	7.62	6.70	6.81	5.66	5.39	4.29
EPS Growth	20.17%	-1.62%	20.32%	5.01%	25.64%	21.88%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Recycling Processing and Sales Recycling Processing and Sales Growth	1,567	1,492	1,603	1,264	1,516	1,528
WM Renewable Energy WM Renewable Energy Growth	640	478	318	273	312	276
WM Healthcare Solutions WM Healthcare Solutions Growth	2,518	2,508	403	-	-	-
Corporate and Other Corporate and Other Growth	26	22	23	24	27	28
Total Collection Total Collection Growth	15,964	15,421	14,890	14,356	13,615	12,244
Landfill Landfill Growth	3,796	3,781	3,445	3,252	3,062	2,750
Transfer Transfer Growth	1,559	1,502	1,381	1,257	1,166	1,105
Revenue (Total) Revenue (Total) Growth	26,070	25,204	22,063	20,426	19,698	17,931

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	247	201	414	458	351	118
Total Debt Total Debt Growth	23,370	23,917	24,940	16,747	15,508	13,928
Net Cash (Debt) Net Cash Growth	-23,123	-23,716	-24,526	-16,289	-15,157	-13,810
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-57.40	-58.67	-60.80	-40.03	-36.52	-32.66

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	6,565	6,043	5,390	4,719	4,536	4,338
Capital Expenditures CapEx Growth	-2,825	-3,227	-3,231	-2,895	-2,587	-1,904
Free Cash Flow Free Cash Flow Growth	3,740	2,816	2,159	1,824	1,949	2,434
Free Cash Flow Growth	55.70%	30.43%	18.37%	-6.41%	-19.93%	37.44%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	40.39%	40.44%	39.34%	38.29%	37.59%	38.04%
Operating Margin	18.91%	18.63%	19.53%	18.72%	17.40%	16.49%
Pretax Margin	14.94%	13.59%	15.67%	14.79%	14.81%	13.10%
Profit Margin	11.78%	10.74%	12.45%	11.28%	11.36%	10.13%
FCF Margin	14.35%	11.17%	9.79%	8.93%	9.89%	13.57%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 29, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	3.780	3.300	3.000	2.800	2.600	2.300
Dividend Per Share Growth	13.49%	10.00%	7.14%	7.69%	13.04%	5.50%
Dividend Yield	1.65%	1.50%	1.49%	1.56%	1.65%	1.37%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 29, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	30.08	32.69	29.49	31.31	28.77	38.45
Forward PE	26.58	27.23	25.74	27.40	26.22	30.82
P/FCF Ratio	24.06	31.43	37.51	39.55	33.04	28.68
PS Ratio	3.45	3.51	3.67	3.53	3.27	3.89

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Oct 27, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Oct 29, 2026

Data Sources Report a data error