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NYSE · Industrials

WASTE MANAGEMENT INC (WM)

As-reported financials and SEC filings for WASTE MANAGEMENT INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About WASTE MANAGEMENT INC

Waste Management Inc provides waste collection, transfer, disposal, recycling, and resource recovery services across the United States and Canada. The company operates landfill gas-to-energy facilities producing renewable electricity and natural gas, and offers regulated waste and secure information destruction services through its Healthcare Solutions segment. It serves municipalities, businesses, and households with a network of landfills, transfer stations, and recycling programs.

Snapshot

Revenue
$25.20B
Revenue growth (YoY)
14.2%
Net income
$2.71B
Diluted EPS
$6.70
Gross margin
40.4%
Operating margin
17.1%
Net margin
10.7%
FCF margin
11.2%
ROE
27.1%
net income / fiscal-year-end equity
P/E
30.6×
trailing when available, otherwise FY EPS
Market cap
$86.51B
Long-term debt / equity
2.22×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Waste Management

  • Revenue grew 14.2% to $25.2B in FY2025, faster than the 8.0% the year before.
  • Operating margin is 17.1% in FY2025, +0.6 pp against 16.5% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $6.7B, up 4.0% from Q2 FY2025.
  • Free cash flow was $2.8B in FY2025, 11.2% of revenue.
  • Net income fell 1.4% to $2.7B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Waste Management’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin40.4%
75th percentile of 466
Operating margin17.1%
83rd percentile of 605
Net margin10.7%
77th percentile of 645
FCF margin11.2%
74th percentile of 562
Revenue growth (YoY)+14.2%
75th percentile of 668
ROE27.1%
90th percentile of 600
P/E30.6×
65th percentile of 435
Long-term debt / equity2.22×
92nd percentile of 409
Short interest3.07d
47th percentile of 676

Waste Management’s long-term debt to equity of 2.22 ranks in the 92nd percentile of the 409 Industrials companies reporting it. Waste Management’s return on equity of 27.1% ranks in the 90th percentile of the 600 Industrials companies reporting it.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $300,164. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$6.59B
reported long value
InvestorAs ofPosition valueSharesChange
Gates Foundation TrustQ2 2026$5.96B26.7MReduced
Two Sigma InvestmentsquantQ2 2026$297.3M1.3MReduced
Citadel AdvisorsquantQ2 2026$137.9M618.5KAdded
AQR Capital ManagementquantQ2 2026$87.7M394.5KReduced
Millennium ManagementquantQ2 2026$61.1M273.9KAdded
Renaissance TechnologiesquantQ2 2026$37.1M166.4KAdded
Gotham Asset ManagementQ2 2026$10.5M47.0KAdded
D. E. ShawquantQ2 2026$722,3543.2KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$300K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-09-04
filed 2026-09-08
Carroll John A.VP & Chief Accounting OfficerSell1.4K$219.90$300K
2026-06-05
filed 2026-06-08
Carrasco RafaelSVP of Enterprise StrategySell2.7K$220.47$585K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
6.1M
settled 2026-08-14
Change vs prior
-1.2%
vs previous settlement
Days to cover
3.07
at avg daily volume
Avg daily volume
2.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-146.1M-1.2%3.07
2026-07-316.2M-0.4%3.21
2026-07-156.2M-2.2%3.74
2026-06-306.4M-1.5%2.27
2026-06-156.5M+12.7%2.95
2026-05-295.7M-14.8%2.44
2026-05-156.7M+0.3%3.34
2026-04-306.7M+8.2%3.11

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$25.20B$22.06B$20.43B$19.70B$17.93B
Gross profit$10.19B$8.68B$7.82B$7.40B$6.82B
Operating income$4.31B$4.06B$3.58B$3.37B$2.96B
Net income$2.71B$2.75B$2.30B$2.24B$1.82B
Diluted EPS$6.70$6.81$5.66$5.39$4.29

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$6.04B$5.39B$4.72B$4.54B$4.34B
Capital expenditure$3.23B$3.23B$2.90B$2.59B$1.90B
Free cash flow$2.82B$2.16B$1.82B$1.95B$2.43B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$6.68B4.0%$785.0M$1.95
Q1 FY2026$6.23B3.5%$723.0M$1.79
Q4 FY2025$6.31B7.1%$742.0M$1.83
Q3 FY2025$6.44B14.9%$603.0M$1.49
Q2 FY2025$6.43B19.0%$726.0M$1.80
Q1 FY2025$6.02B16.7%$637.0M$1.58
Q4 FY2024$5.89B13.0%$598.0M$1.48
Q3 FY2024$5.61B7.9%$760.0M$1.88

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industryRefuse Systems
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK823768

Selected SEC filings

10-K2026-02-09
View on EDGAR →
10-K2025-02-19
View on EDGAR →
10-Q2026-07-29
View on EDGAR →
10-Q2026-04-29
View on EDGAR →
10-Q2025-10-28
View on EDGAR →
10-Q2025-07-29
View on EDGAR →
8-K2026-08-26
View on EDGAR →
8-K2026-07-28
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.