Saturday 17 October 2026 Export WM’s income statement to Excel — free account

Waste Management, Inc.

Waste Management, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $25.2 billion, up 14.2% from fiscal 2024. In the quarter to June 2026, revenue grew 3.95%, EPS grew 8.89%, free cash flow grew 34.8% and total debt fell 2.76%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for five; insiders bought in the last twelve months.

226.96 2.77 +1.24%

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Market cap: $89.6B
P/E: 32.0×
Fwd P/E: 27.0×
Dividend yield: 1.61%
F-score: 6/9
Altman Z: 2.85
Beneish M: −2.76
Dividend safety: 77/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Impairment Feb 9, 2026

All filings →

Insider Decisions trades per month

Total buys 0.39

Total sells 24.22

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	—	—	—	—	—	—	—	—
Sell	1	—	11	6	11	—	—	1	—	—	1	—

Insider Ownership 0.68%

Capital & Financial Ratios $m

Market Cap 89,610.00

Revenue 25,667.00

Net Income 2,854.00

Free Cash Flow 3,573.00

Net Debt 22,799.00

Current Ratio 0.91

Debt/Equity 2.35

P/E ratio 32.01

Fwd P/E 27.00

P/S ratio 3.55

P/B ratio 9.18

Past 5Y EPS Growth 13.74%

This Y EPS Growth 8.09%

Next Y EPS Growth 11.46%

Next Y revenue growth 4.79%

Next 5Y EPS Growth 9.57%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 62.29%

10-year low 10-year high

P/S against its own 10 years 68.56%

10-year low 10-year high

P/B against its own 10 years 65.43%

10-year low 10-year high

EV/Sales against its own 10 years 71.99%

10-year low 10-year high

EV/FCF against its own 10 years 52.38%

10-year low 10-year high

Dividends

Payout Ratio 0.52

Annual Dividend Rate 3.66

Annual Dividend Yield 1.61%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.73	0.95 0.95 0.95
2025	3.30	0.83 0.83 0.83 0.83
2024	3.00	0.75 0.75 0.75 0.75
2023	2.80	0.70 0.70 0.70 0.70
2022	2.60	0.65 0.65 0.65 0.65
2021	2.30	0.58 0.58 0.58 0.58
2020	2.18	0.55 0.55 0.55 0.55
2019	2.05	0.51 0.51 0.51 0.51
2018	1.86	0.47 0.47 0.47 0.47
2017	1.70	0.43 0.43 0.43 0.43
2016	1.64	0.41 0.41 0.41 0.41

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	458	414	201	557
Receivables	2,870	3,687	4,055	4,206
Inventory	173	206	225	232
Other	303	467	429	402
	3,804	4,774	4,910	5,397

	2023	2024	2025	Q'26
Payables	1,709	2,046	1,867	1,992
ST’ Debt	334	1,359	711	1,075
Other	—	—	—	—
	4,226	6,258	5,524	5,948

Compound Annual Growth %

	10y	5y	3y
Sales	6.88%	10.62%	8.56%
Cash Flow	9.11%	12.17%	10.03%
Earnings	13.65%	12.60%	6.56%
Book Value	6.41%	6.03%	13.33%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	6,227	6,684	—	—	—
’25	6,018	6,430	6,443	6,313	25,204
’24	5,159	5,402	5,609	5,893	22,063
’23	4,892	5,119	5,198	5,217	20,426
’22	4,661	5,027	5,075	4,935	19,698
’21	4,112	4,476	4,665	4,678	17,931
’20	3,729	3,561	3,861	4,067	15,218

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,501	1,726	—	—	—
’25	1,208	1,545	1,592	1,698	6,043
’24	1,367	1,154	1,358	1,511	5,390
’23	1,044	1,030	1,263	1,382	4,719
’22	1,258	1,047	1,182	1,049	4,536
’21	1,120	1,043	1,184	991	4,338
’20	765	856	1,029	753	3,403

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	851	1,096	—	—	—
’25	377	813	816	810	2,816
’24	699	487	577	396	2,159
’23	384	510	590	340	1,824
’22	840	497	425	187	1,949
’21	850	647	720	217	2,434
’20	306	420	686	359	1,771

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.79	1.95	—	—	—
’25	1.58	1.80	1.49	1.83	6.70
’24	1.75	1.69	1.88	1.48	6.81
’23	1.30	1.51	1.63	1.22	5.66
’22	1.23	1.41	1.54	1.21	5.39
’21	0.99	0.83	1.28	1.20	4.29
’20	0.85	0.72	0.92	1.03	3.52

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	50.36	69.00	78.39	87.32	85.34	109.11	138.58	148.31	176.68	194.11	Analyst estimates 2026–2028 Powerpack
	High	71.78	86.89	95.49	121.77	126.79	168.04	175.98	179.80	230.39	242.58
People
People	Employees	41,200	42,300	43,700	44,900	48,250	48,500	49,500	48,000	61,700	60,500
	Revenue/emp, $m	0.33	0.34	0.34	0.34	0.32	0.37	0.40	0.43	0.36	0.42
Income, $m
Income, $m	Revenue	13,609	14,485	14,914	15,455	15,218	17,931	19,698	20,426	22,063	25,204
	Gross margin, %	37.64	37.72	37.98	38.56	38.62	38.03	37.59	38.28	39.34	40.44
	EBT	1,822	2,191	2,376	2,105	1,893	2,349	2,918	3,021	3,458	3,426
	EBT margin, %	13.39	15.13	15.93	13.62	12.44	13.10	14.81	14.79	15.67	13.59
	Net income	1,180	1,949	1,923	1,671	1,496	1,817	2,240	2,276	2,745	2,709
	Depreciation	1,392	1,468	1,572	1,672	1,774	2,110	2,150	2,201	2,400	3,005
Per share, $
Per share, $	Revenue	30.69	33.01	34.76	36.40	35.98	42.65	47.72	50.45	54.95	62.59
	Earnings	2.66	4.44	4.49	3.93	3.54	4.32	5.42	5.69	6.84	6.72
	Cash flow	6.77	7.25	8.32	9.12	8.04	10.32	10.99	11.65	13.42	15.01
	Capex	(3.02)	(3.44)	(3.95)	(4.28)	(3.86)	(4.53)	(6.27)	(7.15)	(8.05)	(8.01)
	Free cash flow	3.75	3.81	4.37	4.84	4.19	5.79	4.72	4.50	5.38	6.99
	Book value	12.00	13.77	14.63	16.65	17.62	16.95	16.63	17.03	20.56	24.81
	Shares, m	444	439	429	425	423	420	413	405	402	403
Valuation, ×
Valuation, ×	P/E	26.41	19.30	19.86	28.92	33.31	38.63	28.92	31.51	29.50	32.69
	P/S	2.30	2.61	2.56	3.13	3.28	3.91	3.29	3.56	3.67	3.51
	P/B	5.88	6.25	6.08	6.84	6.69	9.85	9.44	10.55	9.82	8.86
	EV/Sales	2.98	3.26	3.23	3.77	4.15	4.65	4.03	4.33	4.74	4.41
	EV/FCF	24.37	28.28	25.67	28.37	35.65	34.29	40.77	48.52	48.40	39.48
Cash, $m
Cash, $m	Operating cash flow	3,003	3,180	3,570	3,874	3,403	4,338	4,536	4,719	5,390	6,043
	Capex	(1,339)	(1,509)	(1,694)	(1,818)	(1,632)	(1,904)	(2,587)	(2,895)	(3,231)	(3,227)
	Free cash flow	1,664	1,671	1,876	2,056	1,771	2,434	1,949	1,824	2,159	2,816
Balance, $m
Balance, $m	Working capital	(418)	(568)	(463)	3,065	(13)	(1,013)	(843)	(422)	(1,484)	(614)
	Total debt	9,310	9,491	10,026	13,498	13,810	13,405	14,984	16,229	23,900	22,907
	Net debt	9,278	9,469	9,965	9,937	13,257	13,287	14,633	15,771	23,486	22,706
	Shareholders’ equity	5,320	6,042	6,276	7,070	7,454	7,126	6,864	6,896	8,254	9,991
Returns, %
Returns, %	ROA	5.73	9.13	8.66	6.63	5.24	6.21	7.40	7.18	7.10	5.99
	ROIC	9.83	10.62	10.73	9.94	7.35	9.08	9.78	9.86	8.00	8.23
	ROE	22.12	34.31	31.26	25.03	20.60	24.91	31.99	33.49	36.25	29.68

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WM Waste Management, Inc.	$89.6B	32.0×	27.0×	+3.95% (above 0%: growing)	+8.89% (above 0%: growing)	+34.81% (above 0%: growing)	40.83%	18.75%
RSG Republic Services, Inc.	$70.3B	32.8×	28.9×	+4.60% (above 0%: growing)	+4.55% (above 0%: growing)	+8.20% (above 0%: growing)	42.14%	20.34%	Compare
WCN Waste Connections, Inc.	$41.7B	40.3×	33.5×	+6.42% (above 0%: growing)	+4.46% (above 0%: growing)	+6.63% (above 0%: growing)	42.25%	17.08%	Compare
GFL GFL Environmental Inc.	$19.0B	— (loss-making)	— (loss-making)	+16.16% (above 0%: growing)	n/m	+557.08% (above 0%: growing)	19.81%	5.58%	Compare
CLH Clean Harbors, Inc.	$16.9B	38.7×	33.3×	+11.95% (above 0%: growing)	+36.29% (above 0%: growing)	−4.89% (below 0%: shrinking)	35.09%	15.50%	Compare
CWST Casella Waste Systems, Inc.	$5.5B	978×	559×	+16.85% (above 0%: growing)	−25.00% (below 0%: shrinking)	+14.24% (above 0%: growing)	32.88%	3.67%	Compare
ONT Onterris, Inc.	$494.1M	— (loss-making)	123×	−20.42% (below 0%: shrinking)	−91.67% (below 0%: shrinking)	−96.15% (below 0%: shrinking)	44.07%	3.46%	Compare
PESI Perma-Fix Environmental Services, Inc.	$282.0M	— (loss-making)	— (loss-making)	−11.66% (below 0%: shrinking)	n/m	−156.46% (below 0%: shrinking)	(19.43%)	(50.50%)	Compare
ABAT American Battery Technology Company	$225.5M	— (loss-making)	— (loss-making)	+196.60% (above 0%: growing)	n/m	−32.23% (below 0%: shrinking)	15.66%	(246.50%)	Compare
Median of peers	$11.2B	39.5×	33.5×	+9.18%	+4.46%	+0.87%	33.99%	4.63%

All 20 Waste Management stocks →

Waste Management, Inc. (WM) key facts

Concern: Net income was $2.7 billion, or $6.72 per share (basic), a net margin of 10.7%.
Strength: Waste Management, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $25.2 billion, up 14.2% from fiscal 2024.
Waste Management, Inc. (WM) is a Waste Management company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, WM traded at $226.96, a market capitalization of $89.6 billion.
At that price the stock trades at 32.0× trailing-twelve-month earnings and 3.6× sales; its P/E is higher than 62% of its own readings over the past ten years.
Waste Management, Inc. pays an annual dividend of $3.66 per share, a yield of 1.61%, with a payout ratio of 51.8%.
Return on equity was 29.7% and debt-to-equity 2.35.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.85 (grey zone) for fiscal 2025.