What is Waste Management, Inc.'s earnings per share (EPS)?

Waste Management, Inc. (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.

Waste Management, Inc. (WM) Financials

Trailing 12 months to June 30, 2026

Revenue $25.7B +7.2% YoY

Net Income $2.9B +4.9% YoY

EPS (Diluted) $7.06 +4.7% YoY

Free Cash Flow $3.6B +65.2% YoY

Market Cap $83.5B as of Oct 9, 2026

Price / Sales 3.3x on $25.7B revenue, trailing 12 months to June 30, 2026

Price / Earnings 29.3x on $2.9B net income, trailing 12 months to June 30, 2026

Price / Book 8.4x on $9.9B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 29, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WM SEC filings page.

Waste Management, Inc. (WM) reported $25.7B in revenue over the twelve months to Jun 30, 2026, up 7.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI WM FY2025 2026-10-04

Revenue growth is translating into cash, but 2025 profitability weakened as heavier overhead absorbed more operating gains.

Despite a 14.2% revenue increase, operating margin fell to 17.1% in FY2025, indicating that incremental sales produced less operating profit. Operating cash flow reached $6.0B while free cash flow was $2.8B, so roughly half of internally generated cash was absorbed by capital spending before becoming discretionary.

Debt-to-equity eased to 2.2x in FY2025 even as long-term debt remained $22.2B, while current assets stayed below current liabilities; leverage improved without creating abundant short-term liquidity.

Capital expenditures were about $3.2B in FY2025, nearly unchanged from FY2024, so the improvement in free cash flow did not come from sharply reducing reinvestment. Gross margin reached 40.4% while operating margin declined, showing that additional operating costs absorbed part of the improvement in direct economics.

Financial Health Signals

Financial Health Score 56/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Waste Management, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Waste Management, Inc. 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 88/100, reflecting efficient cost management and pricing power. This is down from 18.4% the prior year.

Growth

Waste Management, Inc.'s revenue grew 14.2% year-over-year to $25.2B, a solid pace of expansion. This earns a growth score of 68/100.

Leverage

Waste Management, Inc. 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 21/100, reflecting increased financial risk.

Liquidity

Waste Management, Inc.'s current ratio of 0.89 is below the typical benchmark, resulting in a score of 14/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Waste Management, Inc. converts 11.2% of revenue into free cash flow ($2.8B). This strong cash generation earns a score of 66/100.

Returns

Waste Management, Inc. 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 78/100. This is down from 33.3% the prior year.

Altman Z-Score Grey Zone

2.77

Waste Management, Inc. scores 2.77, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($83.5B) relative to total liabilities ($35.8B). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

7/9

Waste Management, Inc. 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.

Earnings Quality Cash-Backed

2.23x

For every $1 of reported earnings, Waste Management, Inc. generates $2.23 in operating cash flow ($6.0B OCF vs $2.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.72x

Waste Management, Inc. earns $4.72 in operating income for every $1 of interest expense ($4.3B vs $912.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.7B

YoY+4.0%

QoQ+7.3%

5Y CAGR+8.4%

10Y CAGR+6.9%

Waste Management, Inc. generated $6.7B in revenue in Q2 2026. This represents an increase of 4.0% from the same quarter a year earlier. Against the prior quarter it is up 7.3%.

EBITDA

$2.0B

YoY+9.2%

QoQ+9.8%

5Y CAGR+9.5%

10Y CAGR+7.9%

Waste Management, Inc.'s EBITDA was $2.0B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.2% from the same quarter a year earlier. Against the prior quarter it is up 9.8%.

Net Income

$785.0M

YoY+8.1%

QoQ+8.6%

5Y CAGR+17.5%

10Y CAGR+10.6%

Waste Management, Inc. reported $785.0M in net income in Q2 2026. This represents an increase of 8.1% from the same quarter a year earlier. Against the prior quarter it is up 8.6%.

EPS (Diluted)

$1.95

YoY+8.3%

QoQ+8.9%

5Y CAGR+18.6%

10Y CAGR+11.8%

Waste Management, Inc. earned $1.95 per diluted share (EPS) in Q2 2026. This represents an increase of 8.3% from the same quarter a year earlier. Against the prior quarter it is up 8.9%.

Cash & Balance Sheet

Free Cash Flow

$1.1B

YoY+34.8%

QoQ+28.8%

5Y CAGR+11.1%

10Y CAGR+9.3%

Waste Management, Inc. generated $1.1B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 34.8% from the same quarter a year earlier. Against the prior quarter it is up 28.8%.

Cash & Debt

$557.0M

YoY+26.6%

QoQ+252.5%

5Y CAGR+30.4%

10Y CAGR+30.5%

Waste Management, Inc. held $557.0M in cash against $22.3B in long-term debt as of Q2 2026.

Dividends Per Share

$0.94

YoY+14.5%

QoQ0.0%

5Y CAGR+10.4%

10Y CAGR+8.7%

Waste Management, Inc. paid $0.94 per share in dividends in Q2 2026. This represents an increase of 14.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

400M

YoY-0.8%

QoQ-0.5%

5Y CAGR-1.0%

10Y CAGR-1.0%

Waste Management, Inc. had 400M shares outstanding in Q2 2026. This represents a decrease of 0.8% from the same quarter a year earlier. Against the prior quarter it is down 0.5%.

Margins & Returns

Gross Margin

40.8%

YoY0.0pp

QoQ+0.2pp

5Y change+2.0pp

Waste Management, Inc.'s gross margin was 40.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.

Operating Margin

18.8%

YoY+0.9pp

QoQ+0.9pp

5Y change+1.1pp

10Y change+0.9pp

Waste Management, Inc.'s operating margin was 18.8% in Q2 2026, reflecting core business profitability. This is up 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.

Net Margin

11.7%

YoY+0.5pp

QoQ+0.1pp

5Y change+3.9pp

10Y change+3.4pp

Waste Management, Inc.'s net profit margin was 11.7% in Q2 2026, showing the share of revenue converted to profit. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Return on Equity

7.9%

YoY0.0pp

QoQ+0.7pp

5Y change+3.1pp

10Y change+2.4pp

Waste Management, Inc.'s ROE was 7.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.

Capital Allocation

Share Buybacks

$659.0M

QoQ+91.6%

Waste Management, Inc. spent $659.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 91.6%.

Capital Expenditures

$630.0M

YoY-13.9%

QoQ-3.1%

5Y CAGR+9.7%

10Y CAGR+7.3%

Waste Management, Inc. invested $630.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 13.9% from the same quarter a year earlier. Against the prior quarter it is down 3.1%.

R&D Spending

Not reported for Q2 2026.

WM Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WM quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$25.7B	$25.2B+14.2%	$22.1B+8.0%	$20.4B+3.7%	$19.7B+9.9%	$17.9B+17.8%	$15.2B-1.5%	$15.5B+3.6%	$14.9B+3.0%	$14.5B+6.4%	$13.6B+5.0%	$13.0B-7.4%	$14.0B+0.1%	$14.0B+2.4%	$13.6B+2.0%	$13.4B
Cost of Revenue	$15.2B	$15.0B+12.2%	$13.4B+6.2%	$12.6B+2.5%	$12.3B+10.6%	$11.1B+18.9%	$9.3B-1.6%	$9.5B+2.7%	$9.2B+2.5%	$9.0B+6.3%	$8.5B+3.1%	$8.2B-8.6%	$9.0B-1.2%	$9.1B+2.6%	$8.9B+589.9%	$1.3B
Gross Profit	$10.4B	$10.2B+17.4%	$8.7B+11.0%	$7.8B+5.6%	$7.4B+8.6%	$6.8B+16.0%	$5.9B-1.4%	$6.0B+5.2%	$5.7B+3.7%	$5.5B+6.7%	$5.1B+8.3%	$4.7B-5.3%	$5.0B+2.5%	$4.9B+2.1%	$4.8B-60.5%	$12.1B
SG&A Expenses	$2.7B	$2.7B+20.2%	$2.3B+17.5%	$1.9B-0.6%	$1.9B+4.0%	$1.9B+7.9%	$1.7B+5.9%	$1.6B+12.3%	$1.5B-1.0%	$1.5B+4.1%	$1.4B+5.0%	$1.3B-9.3%	$1.5B+0.9%	$1.5B-0.3%	$1.5B-5.1%	$1.6B
Operating Income	$4.5B	$4.3B+6.0%	$4.1B+13.7%	$3.6B+6.2%	$3.4B+13.5%	$3.0B+21.8%	$2.4B-10.1%	$2.7B-3.0%	$2.8B+5.8%	$2.6B+14.8%	$2.3B+12.3%	$2.0B-11.0%	$2.3B+113.1%	$1.1B-41.7%	$1.9B-8.7%	$2.0B
EBITDA	N/A	$7.2B+13.3%	$6.3B+12.1%	$5.6B+4.5%	$5.4B+8.8%	$5.0B+20.9%	$4.1B-4.1%	$4.3B+0.3%	$4.3B+6.3%	$4.0B+11.5%	$3.6B+9.3%	$3.3B-8.4%	$3.6B+48.9%	$2.4B-23.4%	$3.1B-3.3%	$3.3B
Interest Expense	$906.0M	$912.0M+52.5%	$598.0M+19.6%	$500.0M+32.3%	$378.0M+3.6%	$365.0M-14.1%	$425.0M+3.4%	$411.0M+9.9%	$374.0M+3.0%	$363.0M-3.5%	$376.0M-2.3%	$385.0M-17.4%	$466.0M-6.8%	$500.0M-1.8%	$509.0M+1.2%	$503.0M
Income Tax	$771.0M	$717.0M+0.6%	$713.0M-4.3%	$745.0M+9.9%	$678.0M+27.4%	$532.0M+34.0%	$397.0M-8.5%	$434.0M-4.2%	$453.0M+87.2%	$242.0M-62.3%	$642.0M+108.4%	$308.0M-25.4%	$413.0M+13.5%	$364.0M-17.8%	$443.0M-13.3%	$511.0M
Net Income	$2.9B	$2.7B-1.4%	$2.7B+19.2%	$2.3B+2.9%	$2.2B+23.2%	$1.8B+21.4%	$1.5B-10.4%	$1.7B-13.2%	$1.9B-1.2%	$1.9B+64.9%	$1.2B+57.0%	$753.0M-42.0%	$1.3B+1224.5%	$98.0M-88.0%	$817.0M-15.0%	$961.0M
EPS (Basic)	N/A	$6.72-1.8%	$6.84+20.2%	$5.69+5.0%	$5.42+25.5%	$4.32+22.0%	$3.54-9.9%	$3.93-12.5%	$4.49+1.1%	$4.44+66.9%	$2.66+60.2%	$1.66-40.7%	$2.80+1233.3%	$0.21-88.1%	$1.76-14.1%	$2.05
EPS (Diluted)	$7.06	$6.70-1.6%	$6.81+20.3%	$5.66+5.0%	$5.39+25.6%	$4.29+21.9%	$3.52-10.0%	$3.91-12.1%	$4.45+0.9%	$4.41+66.4%	$2.65+60.6%	$1.65-40.9%	$2.79+1228.6%	$0.21-88.1%	$1.76-13.7%	$2.04
Diluted Shares (Avg)	N/A	404M+0.2%	403M-0.9%	407M-2.0%	415M-1.9%	423M-0.5%	425M-0.6%	428M-1.1%	432M-2.2%	442M-1.0%	447M-2.1%	456M-2.1%	466M-0.9%	470M+1.2%	464M-1.5%	471M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$6.7B+4.0%	$6.2B+3.5%	$6.3B+7.1%	$6.4B+14.9%	$6.4B+19.0%	$6.0B+16.7%	$5.9B+13.0%	$5.6B+7.9%
Cost of Revenue	$4.0B+4.0%	$3.7B+2.3%	$3.8B+1442.6%	$3.8B+12.8%	$3.8B+15.6%	$3.6B+15.0%	$244.0M-92.2%	$3.4B+6.6%
Gross Profit	$2.7B+3.9%	$2.5B+5.3%	$2.5B+8.9%	$2.6B+18.1%	$2.6B+24.4%	$2.4B+19.2%	$2.3B+13.0%	$2.2B+10.0%
SG&A Expenses	$683.0M-1.9%	$707.0M+2.9%	$674.0M+334.8%	$665.0M+26.7%	$696.0M+38.9%	$687.0M+39.9%	$155.0M-69.8%	$525.0M+11.7%
Operating Income	$1.3B+8.9%	$1.1B+9.9%	$1.2B+25.7%	$989.0M-11.6%	$1.2B+14.1%	$1.0B-0.3%	$919.0M+17.1%	$1.1B+9.6%
EBITDA	$2.0B+9.2%	$1.8B+8.5%	$1.9B+20.3%	$1.7B+2.4%	$1.9B+19.8%	$1.7B+11.4%	$1.6B+19.8%	$1.7B+8.9%
Interest Expense	$233.0M+0.4%	$225.0M-3.0%	$223.0M+10.9%	$225.0M+71.8%	$232.0M+70.6%	$232.0M+78.5%	$201.0M+57.0%	$131.0M+3.1%
Income Tax	$238.0M+18.4%	$168.0M+11.3%	$193.0M+89.2%	$172.0M-26.8%	$201.0M-6.1%	$151.0M-6.8%	$102.0M-41.7%	$235.0M+11.9%
Net Income	$785.0M+8.1%	$723.0M+13.5%	$742.0M+24.1%	$603.0M-20.7%	$726.0M+6.8%	$637.0M-10.0%	$598.0M+21.3%	$760.0M+14.6%
EPS (Basic)	$1.96+8.9%	$1.79+13.3%	$1.84+23.5%	$1.50-20.6%	$1.80+5.9%	$1.58-10.2%	$1.49+21.1%	$1.89+15.2%
EPS (Diluted)	$1.95+8.3%	$1.79+13.3%	$1.83+23.6%	$1.49-20.7%	$1.80+6.5%	$1.58-9.7%	$1.48+21.3%	$1.88+15.3%
Diluted Shares (Avg)	402M-0.5%	404M+0.1%	N/A	404M+0.3%	404M+0.3%	404M+0.1%	N/A	403M-0.7%

Not reported in any period shown, so not listed: R&D Expenses.

WM Balance Sheet

WM quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$45.8B+2.8%	$44.6B+35.8%	$32.8B+4.6%	$31.4B+7.8%	$29.1B-0.8%	$29.3B+5.8%	$27.7B+22.5%	$22.6B+3.8%	$21.8B+4.7%	$20.9B+2.4%	$20.4B-4.2%	$21.3B-5.5%	$22.5B-2.6%	$23.1B+2.3%	$22.6B
Current Assets	$4.9B+2.8%	$4.8B+25.5%	$3.8B+7.1%	$3.6B+15.7%	$3.1B-13.3%	$3.5B-43.0%	$6.2B+134.7%	$2.6B-1.8%	$2.7B+13.4%	$2.4B+1.3%	$2.3B-33.5%	$3.5B+41.1%	$2.5B+3.1%	$2.4B+1.8%	$2.4B
Cash & Equivalents	$201.0M-51.4%	$414.0M-9.6%	$458.0M+30.5%	$351.0M+197.5%	$118.0M-78.7%	$553.0M-84.5%	$3.6B+5737.7%	$61.0M+177.3%	$22.0M-31.3%	$32.0M-17.9%	$39.0M-97.0%	$1.3B+2153.4%	$58.0M-70.1%	$194.0M-24.8%	$258.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$177.0M	$0	$0
Accounts Receivable	$3.4B+5.0%	$3.3B+24.3%	$2.6B+7.0%	$2.5B+8.0%	$2.3B+8.6%	$2.1B+7.6%	$1.9B+0.9%	$1.9B+7.0%	$1.8B+6.2%	$1.7B+9.7%	$1.5B-2.4%	$1.6B-6.6%	$1.7B-2.2%	$1.7B+6.5%	$1.6B
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$13.9B+3.3%	$13.4B+45.2%	$9.3B-0.7%	$9.3B+3.3%	$9.0B+0.4%	$9.0B+37.7%	$6.5B+1.6%	$6.4B+2.9%	$6.2B+0.5%	$6.2B+3.9%	$6.0B+4.3%	$5.7B-5.4%	$6.1B-3.5%	$6.3B+1.2%	$6.2B
Total Liabilities	$35.8B-1.3%	$36.3B+40.1%	$25.9B+5.8%	$24.5B+11.5%	$22.0B+0.4%	$21.9B+5.9%	$20.7B+26.3%	$16.4B+3.7%	$15.8B+1.6%	$15.5B+3.6%	$15.0B-2.6%	$15.4B-7.2%	$16.6B+1.1%	$16.4B+1.5%	$16.2B
Current Liabilities	$5.5B-11.7%	$6.3B+48.1%	$4.2B-3.8%	$4.4B+7.6%	$4.1B+14.9%	$3.6B+13.0%	$3.1B+1.2%	$3.1B-4.7%	$3.3B+16.8%	$2.8B+11.3%	$2.5B-28.0%	$3.5B+15.6%	$3.0B-0.7%	$3.0B-1.0%	$3.1B
Non-Current Liabilities	$30.3B+0.9%	$30.1B+38.5%	$21.7B+7.9%	$20.1B+12.4%	$17.9B-2.4%	$18.3B+4.6%	$17.5B+32.1%	$13.3B+5.9%	$12.5B-1.7%	$12.7B+2.0%	$12.5B+4.8%	$11.9B-12.2%	$13.6B+1.5%	$13.4B+2.1%	$13.1B
Long-Term Debt	$22.2B-1.5%	$22.5B+41.8%	$15.9B+9.1%	$14.6B+14.8%	$12.7B-4.2%	$13.3B-0.2%	$13.3B+38.4%	$9.6B+9.6%	$8.8B-1.6%	$8.9B+2.5%	$8.7B+4.0%	$8.3B-12.2%	$9.5B+3.6%	$9.2B+0.5%	$9.1B
Total Equity	$10.0B+21.1%	$8.3B+19.5%	$6.9B+0.8%	$6.8B-3.9%	$7.1B-4.4%	$7.5B+5.4%	$7.1B+12.6%	$6.3B+4.3%	$6.0B+13.6%	$5.3B-0.9%	$5.3B-8.9%	$5.9B+2.8%	$5.7B-10.2%	$6.4B+4.7%	$6.1B
Retained Earnings	$17.2B+8.7%	$15.9B+10.6%	$14.3B+8.9%	$13.2B+9.7%	$12.0B+7.6%	$11.2B+5.4%	$10.6B+8.1%	$9.8B+14.1%	$8.6B+16.2%	$7.4B+6.5%	$6.9B+0.7%	$6.9B+9.5%	$6.3B-8.6%	$6.9B+2.4%	$6.7B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$46.4B+1.6%	$45.7B+2.7%	$45.8B+2.8%	$45.6B+31.3%	$45.7B+34.5%	$44.5B+36.2%	$44.6B+35.8%	$34.7B+8.8%
Current Assets	$5.4B+8.3%	$4.8B+7.9%	$4.9B+2.8%	$4.8B+13.6%	$5.0B+12.3%	$4.5B+26.2%	$4.8B+25.5%	$4.3B+19.6%
Cash & Equivalents	$557.0M+26.6%	$158.0M-26.9%	$201.0M-51.4%	$175.0M-71.5%	$440.0M+155.8%	$216.0M-32.9%	$414.0M-9.6%	$614.0M+309.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$3.5B+2.6%	$3.4B+3.4%	$3.4B+5.0%	$3.4B+19.6%	$3.4B+24.9%	$3.3B+28.9%	$3.3B+24.3%	$2.8B+7.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$14.0B+0.8%	$13.9B+2.5%	$13.9B+3.3%	$13.9B+41.5%	$13.9B+48.3%	$13.5B+46.3%	$13.4B+45.2%	$9.8B+4.5%
Total Liabilities	$36.5B0.0%	$35.7B-0.4%	$35.8B-1.3%	$36.1B+34.9%	$36.5B+37.6%	$35.8B+40.0%	$36.3B+40.1%	$26.8B+7.2%
Current Liabilities	$5.9B+2.3%	$5.1B-3.8%	$5.5B-11.7%	$5.7B+20.0%	$5.8B+40.6%	$5.3B+35.4%	$6.3B+48.1%	$4.8B+13.3%
Non-Current Liabilities	$30.6B-0.4%	$30.5B+0.1%	$30.3B+0.9%	$30.4B+38.1%	$30.7B+37.0%	$30.5B+40.9%	$30.1B+38.5%	$22.0B+5.9%
Long-Term Debt	$22.3B-3.4%	$22.3B-2.8%	$22.2B-1.5%	$22.5B+40.7%	$23.1B+39.7%	$22.9B+45.2%	$22.5B+41.8%	$16.0B+5.6%
Total Equity	$9.9B+7.9%	$10.0B+15.8%	$10.0B+21.1%	$9.5B+19.3%	$9.2B+23.4%	$8.7B+22.1%	$8.3B+19.5%	$8.0B+14.8%
Retained Earnings	$18.0B+8.6%	$17.6B+8.7%	$17.2B+8.7%	$16.8B+8.1%	$16.6B+9.6%	$16.2B+9.6%	$15.9B+10.6%	$15.6B+10.2%

Not reported in any period shown, so not listed: Inventory.

WM Cash Flow Statement

WM quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$6.5B	$6.0B+12.1%	$5.4B+14.2%	$4.7B+4.0%	$4.5B+4.6%	$4.3B+27.5%	$3.4B-12.2%	$3.9B+8.5%	$3.6B+12.3%	$3.2B+5.9%	$3.0B+18.8%	$2.5B+8.5%	$2.3B-5.1%	$2.5B+7.0%	$2.3B-7.0%	$2.5B
Depreciation & Amortization	N/A	$2.9B+26.3%	$2.3B+9.5%	$2.1B+1.6%	$2.0B+2.0%	$2.0B+19.6%	$1.7B+6.2%	$1.6B+6.6%	$1.5B+7.3%	$1.4B+5.8%	$1.3B+4.5%	$1.2B-3.6%	$1.3B-3.1%	$1.3B+2.8%	$1.3B+5.5%	$1.2B
Stock-Based Compensation	N/A	$169.0M+43.2%	$118.0M+26.9%	$93.0M+10.7%	$84.0M-22.2%	$108.0M+14.9%	$94.0M+9.3%	$86.0M-3.4%	$89.0M-11.9%	$101.0M+12.2%	$90.0M+25.0%	$72.0M+10.8%	$65.0M+12.1%	$58.0M+100.0%	$29.0M-35.6%	$45.0M
Capital Expenditures	$2.9B	$3.2B-0.1%	$3.2B+11.6%	$2.9B+3.1%	$2.8B+37.8%	$2.0B+28.6%	$1.6B-12.7%	$1.8B+8.6%	$1.7B+6.6%	$1.6B+16.4%	$1.3B+9.6%	$1.2B+4.1%	$1.2B-6.8%	$1.3B-16.1%	$1.5B+14.0%	$1.3B
Free Cash Flow	$3.6B	$2.8B+30.4%	$2.2B+18.4%	$1.8B+5.6%	$1.7B-24.9%	$2.3B+26.5%	$1.8B-11.7%	$2.1B+8.4%	$1.9B+17.8%	$1.6B-2.7%	$1.7B+27.5%	$1.3B+13.0%	$1.1B-3.2%	$1.2B+51.3%	$785.0M-31.4%	$1.1B
Investing Cash Flow	-$3.1B	-$3.6B+66.4%	-$10.6B-243.0%	-$3.1B-0.9%	-$3.1B-61.7%	-$1.9B+60.9%	-$4.8B-104.0%	-$2.4B-9.5%	-$2.2B-33.9%	-$1.6B+16.0%	-$1.9B-20.0%	-$1.6B	N/A	-$1.9B-3.8%	-$1.8B+16.2%	-$2.2B
Financing Cash Flow	-$3.3B	-$2.7B-151.9%	$5.2B+438.3%	-$1.5B-25.3%	-$1.2B+58.1%	-$2.9B-86.0%	-$1.6B-179.4%	$2.0B+230.2%	-$1.5B-10.8%	-$1.4B-25.6%	-$1.1B+50.4%	-$2.2B	N/A	-$687.0M-29.6%	-$530.0M+6.4%	-$566.0M
Dividends Paid	$1.4B	$1.3B+10.2%	$1.2B+6.5%	$1.1B+5.5%	$1.1B+11.0%	$970.0M+4.6%	$927.0M+5.8%	$876.0M+9.2%	$802.0M+6.9%	$750.0M+3.3%	$726.0M+4.5%	$695.0M+0.3%	$693.0M+1.5%	$683.0M+3.8%	$658.0M+3.3%	$637.0M
Share Buybacks	N/A	N/A	$262.0M-79.9%	$1.3B-13.2%	$1.5B+11.1%	$1.4B+235.8%	$402.0M+62.1%	$248.0M-75.3%	$1.0B+33.9%	$750.0M+3.4%	$725.0M+20.8%	$600.0M0.0%	$600.0M+151.0%	$239.0M	N/A	$575.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.7B+11.7%	$1.5B+24.3%	$1.7B+12.4%	$1.6B+17.2%	$1.5B+33.9%	$1.2B-11.6%	$1.5B+9.3%	$1.4B+7.5%
Depreciation & Amortization	$777.0M+9.7%	$735.0M+6.4%	$770.0M+18.1%	$729.0M+30.6%	$708.0M+30.4%	$691.0M+34.4%	$652.0M+24.0%	$558.0M+7.5%
Stock-Based Compensation	N/A	$52.0M+2.0%	N/A	N/A	N/A	$51.0M+70.0%	N/A	N/A
Capital Expenditures	$630.0M-13.9%	$650.0M-21.8%	$888.0M-20.4%	$776.0M-0.6%	$732.0M+9.7%	$831.0M+24.4%	$1.1B+7.0%	$781.0M+16.0%
Free Cash Flow	$1.1B+34.8%	$851.0M+125.7%	$810.0M+104.5%	$816.0M+41.4%	$813.0M+66.9%	$377.0M-46.1%	$396.0M+16.5%	$577.0M-2.2%
Investing Cash Flow	-$696.0M+35.9%	-$731.0M+11.8%	-$867.0M+88.8%	-$784.0M-63.3%	-$1.1B+32.3%	-$829.0M-9.8%	-$7.8B-616.1%	-$480.0M+28.1%
Financing Cash Flow	-$631.0M-157.6%	-$821.0M-53.2%	-$843.0M-113.9%	-$1.0B-139.0%	-$245.0M-189.7%	-$536.0M+27.3%	$6.1B+605700.0%	-$439.0M+27.6%
Dividends Paid	$379.0M+13.8%	$385.0M+14.6%	$333.0M+10.6%	$332.0M+10.3%	$333.0M+10.6%	$336.0M+9.4%	$301.0M+7.1%	$301.0M+6.4%
Share Buybacks	$659.0M	$344.0M	N/A	N/A	N/A	N/A	$0-100.0%	$0-100.0%

WM Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WM quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	40.4%+1.1pp	39.3%+1.1pp	38.3%+0.7pp	37.6%-0.4pp	38.0%-0.6pp	38.6%+0.1pp	38.6%+0.6pp	38.0%+0.3pp	37.7%+0.1pp	37.6%+1.2pp	36.5%+0.8pp	35.7%+0.8pp	34.8%-0.1pp	34.9%-55.4pp	90.4%
Operating Margin	17.1%-1.3pp	18.4%+0.9pp	17.5%+0.4pp	17.1%+0.5pp	16.5%+0.6pp	16.0%-1.5pp	17.5%-1.2pp	18.7%+0.5pp	18.2%+1.3pp	16.9%+1.1pp	15.8%-0.7pp	16.4%+8.7pp	7.7%-5.8pp	13.6%-1.6pp	15.2%
Net Margin	10.7%-1.7pp	12.4%+1.2pp	11.3%-0.1pp	11.4%+1.2pp	10.1%+0.3pp	9.8%-1.0pp	10.8%-2.1pp	12.9%-0.6pp	13.5%+4.8pp	8.7%+2.9pp	5.8%-3.5pp	9.3%+8.6pp	0.7%-5.3pp	6.0%-1.2pp	7.2%
Return on Equity	27.1%-6.2pp	33.3%-0.1pp	33.4%+0.7pp	32.7%+7.2pp	25.5%+5.4pp	20.1%-3.6pp	23.6%-7.1pp	30.7%-1.7pp	32.4%+10.1pp	22.3%+8.2pp	14.1%-8.0pp	22.1%+20.4pp	1.7%-11.1pp	12.9%-3.0pp	15.8%
Return on Assets	5.9%-0.3pp	6.2%-0.9pp	7.0%-0.1pp	7.1%+0.9pp	6.2%+1.1pp	5.1%-0.9pp	6.0%-2.5pp	8.5%-0.4pp	8.9%+3.3pp	5.7%+2.0pp	3.7%-2.4pp	6.1%+5.7pp	0.4%-3.1pp	3.5%-0.7pp	4.3%
Current Ratio	0.89+0.1x	0.76-0.1x	0.90+0.1x	0.81+0.1x	0.75-0.2x	1.00-1.0x	1.97+1.1x	0.850.0x	0.830.0x	0.85-0.1x	0.93-0.1x	1.01+0.2x	0.830.0x	0.800.0x	0.78
Debt-to-Equity	2.22-0.5x	2.73+0.4x	2.30+0.2x	2.13+0.3x	1.780.0x	1.78-0.1x	1.88+0.4x	1.53+0.1x	1.45-0.2x	1.68+0.1x	1.62+0.2x	1.42-0.2x	1.66+0.2x	1.44-0.1x	1.50
Asset Turnover	0.55+0.1x	0.50-0.1x	0.620.0x	0.630.0x	0.62+0.1x	0.520.0x	0.56-0.1x	0.660.0x	0.660.0x	0.650.0x	0.640.0x	0.660.0x	0.620.0x	0.590.0x	0.59
FCF Margin	11.2%+1.4pp	9.8%+0.9pp	8.9%+0.2pp	8.8%-4.1pp	12.8%+0.9pp	11.9%-1.4pp	13.3%+0.6pp	12.7%+1.6pp	11.1%-1.0pp	12.2%+2.2pp	10.0%+1.8pp	8.2%-0.3pp	8.5%+2.8pp	5.8%-2.8pp	8.6%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	40.8%0.0pp	40.7%+0.7pp	40.4%+0.7pp	40.5%+1.1pp	40.9%+1.8pp	40.0%+0.8pp	39.7%0.0pp	39.4%+0.7pp
Operating Margin	18.8%+0.9pp	17.9%+1.0pp	18.3%+2.7pp	15.3%-4.6pp	17.9%-0.8pp	16.8%-2.9pp	15.6%+0.5pp	20.0%+0.3pp
Net Margin	11.7%+0.5pp	11.6%+1.0pp	11.8%+1.6pp	9.4%-4.2pp	11.3%-1.3pp	10.6%-3.1pp	10.2%+0.7pp	13.6%+0.8pp
Return on Equity	7.9%0.0pp	7.2%-0.2pp	7.4%+0.2pp	6.3%-3.2pp	7.9%-1.2pp	7.4%-2.6pp	7.2%+0.1pp	9.5%0.0pp
Return on Assets	1.7%+0.1pp	1.6%+0.2pp	1.6%+0.3pp	1.3%-0.9pp	1.6%-0.4pp	1.4%-0.7pp	1.3%-0.2pp	2.2%+0.1pp
Current Ratio	0.91+0.1x	0.93+0.1x	0.89+0.1x	0.840.0x	0.86-0.2x	0.83-0.1x	0.76-0.1x	0.890.0x
Debt-to-Equity	2.24-0.3x	2.22-0.4x	2.22-0.5x	2.36+0.4x	2.51+0.3x	2.65+0.4x	2.73+0.4x	2.00-0.2x
Asset Turnover	0.140.0x	0.140.0x	0.140.0x	0.140.0x	0.140.0x	0.140.0x	0.130.0x	0.160.0x
FCF Margin	16.4%+3.8pp	13.7%+7.4pp	12.8%+6.1pp	12.7%+2.4pp	12.6%+3.6pp	6.3%-7.3pp	6.7%+0.2pp	10.3%-1.1pp

Note: The current ratio is below 1.0 (0.89), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Waste Management, Inc. WM	FY2025	$25.2B	$2.7B	10.7%	$83.5B	56/100
Republic Services, Inc. RSG	FY2025	$19.0B	$2.1B	11.2%	$66.4B	53/100
Waste Connections, Inc. WCN	FY2025	$9.5B	$1.1B	11.4%	$38.9B	53/100
Clean Harbors, Inc CLH	FY2025	$6.0B	$391.0M	6.5%	$16.8B	60/100
Casella Waste Systems Inc CWST	FY2025	$1.8B	$7.9M	0.4%	$5.3B	47/100

Where Waste Management, Inc. Ranks

Frequently Asked Questions

What is Waste Management, Inc.'s annual revenue?

Waste Management, Inc. (WM) reported $25.2B in total revenue for fiscal year 2025. This represents a 14.2% 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, Inc.'s revenue growing?

Waste Management, Inc. (WM) revenue grew by 14.2% year-over-year, from $22.1B to $25.2B in fiscal year 2025.

Is Waste Management, Inc. profitable?

Yes, Waste Management, Inc. (WM) reported a net income of $2.7B in fiscal year 2025, with a net profit margin of 10.7%.

What is Waste Management, Inc.'s EBITDA?

Waste Management, Inc. (WM) had EBITDA of $7.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Waste Management, Inc. have?

As of fiscal year 2025, Waste Management, Inc. (WM) had $201.0M in cash and equivalents against $22.2B in long-term debt.

What is Waste Management, Inc.'s gross margin?

Waste Management, Inc. (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, Inc.'s operating margin?

Waste Management, Inc. (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, Inc.'s net profit margin?

Waste Management, Inc. (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, Inc. pay dividends?

Yes, Waste Management, Inc. (WM) paid $3.30 per share in dividends during fiscal year 2025.

What is Waste Management, Inc.'s return on equity (ROE)?

Waste Management, Inc. (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, Inc.'s free cash flow?

Waste Management, Inc. (WM) generated $2.8B in free cash flow during fiscal year 2025. This represents a 30.4% 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, Inc.'s operating cash flow?

Waste Management, Inc. (WM) generated $6.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Waste Management, Inc.'s total assets?

Waste Management, Inc. (WM) had $45.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Waste Management, Inc.'s capital expenditures?

Waste Management, Inc. (WM) invested $3.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Waste Management, Inc. have outstanding?

Waste Management, Inc. (WM) had 403M shares outstanding as of fiscal year 2025.

What is Waste Management, Inc.'s current ratio?

Waste Management, Inc. (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, Inc.'s debt-to-equity ratio?

Waste Management, Inc. (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, Inc.'s return on assets (ROA)?

Waste Management, Inc. (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, Inc.'s P/E ratio?

Waste Management, Inc. (WM) trades at 29.3x earnings, its market capitalization divided by net income of $2.9B net income, trailing 12 months to June 30, 2026. The market capitalization is $83.5B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Waste Management, Inc.'s price-to-sales ratio?

Waste Management, Inc. (WM) trades at 3.3x sales, its market capitalization divided by revenue of $25.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $83.5B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Waste Management, Inc.'s Altman Z-Score?

Waste Management, Inc. (WM) has an Altman Z-Score of 2.77, placing it in the Grey Zone (moderate 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, Inc.'s Piotroski F-Score?

Waste Management, Inc. (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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Waste Management, Inc.'s earnings high quality?

Waste Management, Inc. (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.

Can Waste Management, Inc. cover its interest payments?

Waste Management, Inc. (WM) has an interest coverage ratio of 4.72x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Waste Management, Inc.?

Waste Management, Inc. (WM) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.