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Friday 6 November 2026 Export WM’s income statement to Excel — free account

Waste Management, Inc.

WM Industrials Waste Management

Waste Management, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $25.2 billion, up 14.2% from fiscal 2024.

Revenue
+6.25%
EPS
+37.1%
Free cash flow
+20.5%
Total debt
+0.03%

Quarter to September 2026, against a year earlier

236.46 4.81 −1.99%
Market cap
$95.9B
P/E
31.5×
Fwd P/E
29.5×
Dividend yield
1.52%
F-score
6/9
Altman Z
2.85
Beneish M
−2.76
Dividend safety
77/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Waste Management, Inc. (WM) Gross margin

Alert me on Gross margin

Waste Management, Inc.'s gross margin over the twelve months to 30 September 2026 was 40.4%, down 0.1 percentage points from fiscal 2025 (40.4%). Over the past ten years it has ranged from 36.5% (fiscal 2015) to 40.4% (fiscal 2025) — the current reading is the highest in ten years. That is above the Waste Management industry median of 20.5% and above the Industrials sector median of 30.6%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 40.4% 1.10
FY2024 39.3% 1.06
FY2023 38.3% 0.69
FY2022 37.6% (0.44)
FY2021 38.0% (0.59)
FY2020 38.6% 0.06
FY2019 38.6% 0.58
FY2018 38.0% 0.26
FY2017 37.7% 0.08
FY2016 37.6% 1.15

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 40.2% (0.62)
Jun 2026 40.8% 0.15
Mar 2026 40.7% 0.86
Dec 2025 39.8% (1.23)
43 more quarters

Against its own ten years

Low 36.5% High 40.4%
Ten-year median 38.0%
Current reading's percentile 91

Gross margin against peers

Company Gross margin
WCN Waste Connections, Inc. compare 42.6%
RSG Republic Services, Inc. compare 42.0%
ONT Onterris, Inc. compare 41.5%
WM Waste Management, Inc. 40.4%
CWST Casella Waste Systems, Inc. compare 33.4%
CLH Clean Harbors, Inc. compare 33.1%
GFL GFL Environmental Inc. compare 19.5%
NVRI Enviri Corporation compare 10.3%
OIO ESGL Holdings Limited compare —
Waste Management industry median 20.5%
Industrials sector median 30.6%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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