Waste Management Financials
This page shows Waste Management (WM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Waste Management has an operating margin of 17.1%, meaning the company retains $17 of operating profit per $100 of revenue. This strong profitability earns a score of 85/100, reflecting efficient cost management and pricing power. This is down from 18.4% the prior year.
Waste Management's revenue declined 100% year-over-year, from $22.1B to $25K. This contraction results in a growth score of 0/100.
Waste Management has elevated debt relative to equity (D/E of 2.22), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 29/100, reflecting increased financial risk.
Waste Management's current ratio of 0.89 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 16/100, which could limit financial flexibility.
Waste Management has a free cash flow margin of 11.2%, earning a moderate score of 56/100. The company generates positive cash flow after capital investments, but with room for improvement.
Waste Management earns a strong 27.1% return on equity (ROE), meaning it generates $27 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 33.3% the prior year.
Waste Management scores 1588093.81, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($94.9B) relative to total liabilities ($36K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Waste Management passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Waste Management generates $2.23 in operating cash flow ($6K OCF vs $3K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Waste Management generated $25K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Waste Management's EBITDA was $7K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.
Waste Management generated $3K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.
Waste Management reported $3K in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Waste Management earned $6.70 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1.6% from the prior year.
Waste Management held $201 in cash against $22K in long-term debt as of fiscal year 2025.
Waste Management paid $2.80 per share in dividends in fiscal year 2025. This represents a decrease of 6.7% from the prior year.
Waste Management had 403M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.
Waste Management's gross margin was 40.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.1 percentage points from the prior year.
Waste Management's operating margin was 17.1% in fiscal year 2025, reflecting core business profitability. This is down 1.3 percentage points from the prior year.
Waste Management's net profit margin was 10.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.7 percentage points from the prior year.
Waste Management's ROE was 27.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.2 percentage points from the prior year.
Waste Management spent $262 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Waste Management invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
WM Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.3B-2.0% | $6.4B+0.2% | $6.4B+6.8% | $6.0B+2.1% | $5.9B+5.1% | $5.6B+3.8% | $5.4B+4.7% | $5.2B |
| Cost of Revenue | $3.7B-3.7% | $3.8B-0.2% | $3.8B+5.3% | $3.6B+1394.7% | $244.0M-92.8% | $3.4B+3.3% | $3.3B+4.8% | $3.1B |
| Gross Profit | $2.6B+0.4% | $2.6B+0.7% | $2.6B+9.3% | $2.4B+1.3% | $2.3B+5.9% | $2.2B+4.7% | $2.1B+4.6% | $2.0B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $674.0M+1.4% | $665.0M-4.5% | $696.0M+1.3% | $687.0M+343.2% | $155.0M-70.5% | $525.0M+4.8% | $501.0M+2.0% | $491.0M |
| Operating Income | $1.2B+16.8% | $989.0M-14.1% | $1.2B+13.6% | $1.0B+10.2% | $919.0M-17.9% | $1.1B+10.9% | $1.0B-0.7% | $1.0B |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $193.0M+12.2% | $172.0M-14.4% | $201.0M+33.1% | $151.0M+48.0% | $102.0M-56.6% | $235.0M+9.8% | $214.0M+32.1% | $162.0M |
| Net Income | $742.0M+23.1% | $603.0M-16.9% | $726.0M+14.0% | $637.0M+6.5% | $598.0M-21.3% | $760.0M+11.8% | $680.0M-4.0% | $708.0M |
| EPS (Diluted) | $1.83+22.8% | $1.49-17.2% | $1.80+13.9% | $1.58+6.0% | $1.49-20.7% | $1.88+11.2% | $1.69-3.4% | $1.75 |
WM Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $45.8B+0.5% | $45.6B-0.2% | $45.7B+2.8% | $44.5B-0.2% | $44.6B+28.3% | $34.7B+2.2% | $34.0B+4.1% | $32.7B |
| Current Assets | $4.9B+1.5% | $4.8B-2.9% | $5.0B+11.9% | $4.5B-6.7% | $4.8B+12.1% | $4.3B-4.1% | $4.4B+25.8% | $3.5B |
| Cash & Equivalents | $201.0M+14.9% | $175.0M-60.2% | $440.0M+103.7% | $216.0M-47.8% | $414.0M-32.6% | $614.0M+257.0% | $172.0M-46.6% | $322.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $3.4B+1.1% | $3.4B-0.3% | $3.4B+4.5% | $3.3B-0.4% | $3.3B+15.2% | $2.8B+4.1% | $2.7B+7.8% | $2.5B |
| Goodwill | $13.9B-0.1% | $13.9B+0.1% | $13.9B+2.6% | $13.5B+0.7% | $13.4B+36.8% | $9.8B+4.9% | $9.4B+1.3% | $9.2B |
| Total Liabilities | $35.8B-0.7% | $36.1B-1.2% | $36.5B+1.9% | $35.8B-1.3% | $36.3B+35.7% | $26.8B+0.8% | $26.5B+3.8% | $25.6B |
| Current Liabilities | $5.5B-3.7% | $5.7B-1.4% | $5.8B+8.8% | $5.3B-14.6% | $6.3B+30.9% | $4.8B+15.5% | $4.1B+4.7% | $3.9B |
| Long-Term Debt | $22.2B-1.3% | $22.5B-2.5% | $23.1B+0.8% | $22.9B+1.5% | $22.5B+41.1% | $16.0B-3.2% | $16.5B+4.7% | $15.8B |
| Total Equity | $10.0B+4.9% | $9.5B+3.5% | $9.2B+6.4% | $8.7B+4.8% | $8.3B+3.4% | $8.0B+7.0% | $7.5B+5.3% | $7.1B |
| Retained Earnings | $17.2B+2.4% | $16.8B+1.6% | $16.6B+2.4% | $16.2B+1.9% | $15.9B+1.9% | $15.6B+3.0% | $15.1B+2.5% | $14.7B |
WM Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.7B+6.7% | $1.6B+3.0% | $1.5B+27.9% | $1.2B-20.1% | $1.5B+11.3% | $1.4B+17.7% | $1.2B-15.6% | $1.4B |
| Capital Expenditures | $888.0M+14.4% | $776.0M+6.0% | $732.0M-11.9% | $831.0M-25.5% | $1.1B+42.8% | $781.0M+17.1% | $667.0M-0.1% | $668.0M |
| Free Cash Flow | $810.0M-0.7% | $816.0M+0.4% | $813.0M+115.6% | $377.0M-4.8% | $396.0M-31.4% | $577.0M+18.5% | $487.0M-30.3% | $699.0M |
| Investing Cash Flow | -$867.0M-10.6% | -$784.0M+27.8% | -$1.1B-31.0% | -$829.0M+89.3% | -$7.8B-1517.1% | -$480.0M+70.1% | -$1.6B-112.5% | -$755.0M |
| Financing Cash Flow | -$843.0M+19.6% | -$1.0B-328.2% | -$245.0M+54.3% | -$536.0M-108.8% | $6.1B+1480.0% | -$439.0M-260.8% | $273.0M+137.0% | -$737.0M |
| Dividends Paid | $333.0M+0.3% | $332.0M-0.3% | $333.0M-0.9% | $336.0M+11.6% | $301.0M0.0% | $301.0M0.0% | $301.0M-2.0% | $307.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $12.0M-95.2% | $250.0M |
WM Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.5%+1.0pp | 40.5%+0.2pp | 40.3%+0.9pp | 39.4%-0.3pp | 39.7%+0.3pp | 39.4%+0.3pp | 39.1%-0.1pp | 39.1% |
| Operating Margin | 18.3%+2.9pp | 15.3%-2.5pp | 17.9%+1.1pp | 16.8%+1.2pp | 15.6%-4.4pp | 20.0%+1.3pp | 18.7%-1.0pp | 19.7% |
| Net Margin | 11.8%+2.4pp | 9.4%-1.9pp | 11.3%+0.7pp | 10.6%+0.4pp | 10.2%-3.4pp | 13.6%+1.0pp | 12.6%-1.1pp | 13.7% |
| Return on Equity | 7.4%+1.1pp | 6.3%-1.6pp | 7.9%+0.5pp | 7.4%+0.1pp | 7.2%-2.3pp | 9.5%+0.4pp | 9.1%-0.9pp | 10.0% |
| Return on Assets | 1.6%+0.3pp | 1.3%-0.3pp | 1.6%+0.2pp | 1.4%+0.1pp | 1.3%-0.8pp | 2.2%+0.2pp | 2.0%-0.2pp | 2.2% |
| Current Ratio | 0.89+0.0 | 0.84-0.0 | 0.86+0.0 | 0.83+0.1 | 0.76-0.1 | 0.89-0.2 | 1.07+0.2 | 0.89 |
| Debt-to-Equity | 2.22-0.1 | 2.36-0.1 | 2.51-0.1 | 2.65-0.1 | 2.73+0.7 | 2.00-0.2 | 2.21-0.0 | 2.23 |
| FCF Margin | 12.8%+0.2pp | 12.7%+0.0pp | 12.6%+6.4pp | 6.3%-0.5pp | 6.7%-3.6pp | 10.3%+1.3pp | 9.0%-4.5pp | 13.6% |
Note: The current ratio is below 1.0 (0.89), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Waste Management's annual revenue?
Waste Management (WM) reported $25K in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Waste Management's revenue growing?
Waste Management (WM) revenue declined by 100% year-over-year, from $22.1B to $25K in fiscal year 2025.
Is Waste Management profitable?
Yes, Waste Management (WM) reported a net income of $3K in fiscal year 2025, with a net profit margin of 10.7%.
What is Waste Management's earnings per share (EPS)?
Waste Management (WM) reported diluted earnings per share of $6.70 for fiscal year 2025. This represents a -1.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Waste Management's EBITDA?
Waste Management (WM) had EBITDA of $7K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Waste Management have?
As of fiscal year 2025, Waste Management (WM) had $201 in cash and equivalents against $22K in long-term debt.
What is Waste Management's gross margin?
Waste Management (WM) had a gross margin of 40.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Waste Management's operating margin?
Waste Management (WM) had an operating margin of 17.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Waste Management's net profit margin?
Waste Management (WM) had a net profit margin of 10.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Waste Management pay dividends?
Yes, Waste Management (WM) paid $2.80 per share in dividends during fiscal year 2025.
What is Waste Management's return on equity (ROE)?
Waste Management (WM) has a return on equity of 27.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Waste Management's free cash flow?
Waste Management (WM) generated $3K in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Waste Management's operating cash flow?
Waste Management (WM) generated $6K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Waste Management's total assets?
Waste Management (WM) had $46K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Waste Management's capital expenditures?
Waste Management (WM) invested $3K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Waste Management buy back shares?
Yes, Waste Management (WM) spent $262 on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Waste Management have outstanding?
Waste Management (WM) had 403M shares outstanding as of fiscal year 2025.
What is Waste Management's current ratio?
Waste Management (WM) had a current ratio of 0.89 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Waste Management's debt-to-equity ratio?
Waste Management (WM) had a debt-to-equity ratio of 2.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Waste Management's return on assets (ROA)?
Waste Management (WM) had a return on assets of 5.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Waste Management's Altman Z-Score?
Waste Management (WM) has an Altman Z-Score of 1588093.81, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Waste Management's Piotroski F-Score?
Waste Management (WM) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Waste Management's earnings high quality?
Waste Management (WM) has an earnings quality ratio of 2.23x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Waste Management?
Waste Management (WM) scores 48 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.