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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

236.47 4.80 −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
Segments Valuation Filings

Waste Management, Inc. (WM) Operating margin

Alert me on Operating margin

Waste Management, Inc.'s operating margin over the twelve months to 30 September 2026 was 18.4%, up 1.3 percentage points from fiscal 2025 (17.1%). Over the past ten years it has ranged from 15.8% (fiscal 2015) to 18.7% (fiscal 2018); the current reading is higher than 55% of that period. That is above the Waste Management industry median of 0.00% and above the Industrials sector median of 5.21%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 17.1% (1.33)
FY2024 18.4% 0.92
FY2023 17.5% 0.42
FY2022 17.1% 0.54
FY2021 16.5% 0.55
FY2020 16.0% (1.52)
FY2019 17.5% (1.19)
FY2018 18.7% 0.50
FY2017 18.2% 1.33
FY2016 16.9% 1.09

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 18.7% (0.07)
Jun 2026 18.8% 0.88
Mar 2026 17.9% (0.43)
Dec 2025 18.3% 2.95
43 more quarters

Against its own ten years

Low 15.8% High 18.7%
Ten-year median 17.1%
Current reading's percentile 86

Operating margin against peers

Company Operating margin
RSG Republic Services, Inc. compare 20.0%
WM Waste Management, Inc. 18.4%
WCN Waste Connections, Inc. compare 17.7%
CLH Clean Harbors, Inc. compare 13.2%
GFL GFL Environmental Inc. compare 7.39%
CWST Casella Waste Systems, Inc. compare 3.38%
ONT Onterris, Inc. compare 1.34%
OIO ESGL Holdings Limited compare 0.00%
NVRI Enviri Corporation compare −11.2%
Waste Management industry median 0.00%
Industrials sector median 5.21%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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