WASTE MANAGEMENT INC WM
Waste Management, Inc. is a holding company and all operations are conducted by its subsidiaries. When the terms "the Company," "we," "us" or "our" are used in this document, those terms refer to Waste Management, Inc., together with its consolidated subsidiaries and consolidated variable interest entities. When we use the term "WMI," we are referring only to Waste Management, Inc., the parent holding company.
WMI was incorporated in Oklahoma in 1987 under the name "USA Waste Services, Inc." and was reincorporated as a Delaware company in 1995. In a 1998 merger, the Illinois-based waste services company formerly known as Waste Management, Inc. became a wholly-owned subsidiary of WMI and changed its name to Waste Management Holdings, Inc. ("WM Holdings"). At the same time, our parent holding company changed its name from USA Waste Services to Waste Management, Inc. Like WMI, WM Holdings is a holding company and all operations are conducted by subsidiaries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.20B | $22.06B | $20.43B | $19.70B | $17.93B | $15.22B | $15.46B | $14.91B | $14.48B | $13.61B |
| Cost of revenue | $15.01B | $13.38B | $12.61B | $12.29B | $11.11B | $9.34B | $9.50B | $9.25B | $9.02B | $8.49B |
| Gross profit | $10.19B | $8.68B | $7.82B | $7.40B | $6.82B | $5.88B | $5.96B | $5.67B | $5.46B | $5.12B |
| SG&A | $2.72B | $2.26B | $1.93B | $1.94B | $1.86B | $1.73B | $1.63B | $1.45B | $1.47B | $1.41B |
| Total operating expenses | $20.90B | $18.00B | $16.85B | $16.33B | $14.97B | $12.78B | $12.75B | $12.12B | $11.85B | $11.31B |
| Operating income | $4.31B | $4.06B | $3.58B | $3.37B | $2.96B | $2.43B | $2.71B | $2.79B | $2.64B | $2.30B |
| Pre-tax income | $3.43B | $3.46B | $3.02B | $2.92B | $2.35B | $1.89B | $2.10B | $2.38B | $2.19B | $1.82B |
| Income tax | $717.0M | $713.0M | $745.0M | $678.0M | $532.0M | $397.0M | $434.0M | $453.0M | $242.0M | $642.0M |
| Net income | $2.71B | $2.75B | $2.30B | $2.24B | $1.82B | $1.50B | $1.67B | $1.93B | $1.95B | $1.18B |
| EPS, basic | 6.72 | 6.84 | 5.69 | 5.42 | 4.32 | 3.54 | 3.93 | 4.49 | 4.44 | 2.66 |
| EPS, diluted | 6.70 | 6.81 | 5.66 | 5.39 | 4.29 | 3.52 | 3.91 | 4.45 | 4.41 | 2.65 |
| Shares, diluted (wtd. avg.) | $404.2M | $403.4M | $406.9M | $415.0M | $422.9M | $425.1M | $427.5M | $432.2M | $441.9M | $446.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $201.0M | $414.0M | $458.0M | $445.0M | $194.0M | $648.0M | $3.65B | $183.0M | $293.0M | $94.0M |
| Receivables | $3.44B | $3.27B | $2.63B | $2.46B | $2.28B | $2.10B | $1.95B | $1.93B | $1.80B | $1.70B |
| Total current assets | $4.91B | $4.77B | $3.80B | $3.55B | $3.07B | $3.54B | $6.21B | $2.65B | $2.69B | $2.38B |
| Property, plant and equipment | — | — | — | — | — | — | $12.89B | $11.94B | $11.56B | $10.95B |
| Goodwill | $13.88B | $13.44B | $9.25B | $9.32B | $9.03B | $8.99B | $6.53B | $6.43B | $6.25B | $6.21B |
| Other intangibles | $3.77B | $4.19B | $759.0M | $827.0M | $898.0M | $1.02B | $521.0M | $572.0M | $547.0M | $591.0M |
| Total assets | $45.84B | $44.57B | $32.82B | $31.37B | $29.10B | $29.34B | $27.74B | $22.65B | $21.83B | $20.86B |
| Accounts payable | $1.87B | $2.05B | $1.71B | $1.77B | $1.38B | $1.12B | $1.06B | $1.04B | $1.04B | $799.0M |
| Short-term debt | $711.0M | $1.36B | $334.0M | $414.0M | $708.0M | $551.0M | $218.0M | $432.0M | $739.0M | $417.0M |
| Total current liabilities | $5.52B | $6.26B | $4.23B | $4.39B | $4.08B | $3.55B | $3.14B | $3.11B | $3.26B | $2.79B |
| Total liabilities | $35.84B | $36.31B | $25.93B | $24.50B | $21.97B | $21.89B | $20.67B | $16.37B | $15.79B | $15.54B |
| Retained earnings | $17.23B | $15.86B | $14.33B | $13.17B | $12.00B | $11.16B | $10.59B | $9.80B | $8.59B | $7.39B |
| Total equity | $9.99B | $8.25B | $6.90B | $6.86B | $7.13B | $7.45B | $7.07B | $6.28B | $6.04B | $5.32B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.04B | $5.39B | $4.72B | $4.54B | $4.34B | $3.40B | $3.87B | $3.57B | $3.18B | $3.00B |
| Depreciation and amortisation | $2.86B | $2.27B | $2.07B | $2.04B | $2.00B | $1.67B | $1.57B | $1.48B | $1.38B | $1.30B |
| Stock-based compensation | $169.0M | $118.0M | $93.0M | $84.0M | $108.0M | $94.0M | $86.0M | $89.0M | $101.0M | $90.0M |
| Capital expenditure | $3.23B | $3.23B | $2.90B | $2.59B | $1.90B | $1.58B | $1.81B | $1.67B | $1.57B | $1.35B |
| Investing cash flow | -$3.57B | -$10.60B | -$3.09B | -$3.06B | -$1.89B | -$4.85B | -$2.38B | -$2.17B | -$1.62B | -$1.93B |
| Financing cash flow | -$2.67B | $5.16B | -$1.52B | -$1.22B | -$2.90B | -$1.56B | $1.96B | -$1.51B | -$1.36B | -$1.08B |
| Dividends paid | $1.33B | $1.21B | $1.14B | $1.08B | $970.0M | $927.0M | $876.0M | $802.0M | $750.0M | $726.0M |
| Buybacks | — | $262.0M | $1.30B | $1.50B | $1.35B | $402.0M | $248.0M | $1.00B | $750.0M | $725.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-012049.
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|---|---|---|---|---|
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| CWST | CASELLA WASTE SYSTEMS INC | $5.95B | 779.4x | 18.0% |
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| VIVK | Vivakor, Inc. | $6.7M | — | 16.3% |
| RENX | RenX Enterprises Corp. | $5.2M | — | 3,860.7% |
| OIO | OIO Group | — | — | — |