Waste Management (WM) Financials

$233.91 +1.96 (+0.85%)

Closing price 05/20/2025 03:59 PM Eastern

Extended Trading

$233.00 -0.91 (-0.39%)

As of 08:56 AM Eastern

Annual Income Statements for Waste Management

This table shows Waste Management's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	2,746	2,304	2,238	1,816	1,496	1,670	1,925	1,949	1,182	753
Consolidated Net Income / (Loss)	2,745	2,276	2,240	1,817	1,496	1,671	1,923	1,949	1,180	752
Net Income / (Loss) Continuing Operations	2,745	2,276	2,240	1,817	1,496	1,671	1,923	1,949	1,180	752
Total Pre-Tax Income	3,458	3,021	2,918	2,349	1,893	2,105	2,376	2,191	1,822	1,060
Total Operating Income	4,063	3,575	3,365	2,965	2,434	2,706	2,789	2,636	2,296	2,045
Total Gross Profit	8,680	7,820	7,404	6,820	5,877	5,959	5,665	5,464	5,123	4,730
Total Revenue	22,063	20,426	19,698	17,931	15,218	15,455	14,914	14,485	13,609	12,961
Operating Revenue	22,063	20,426	19,698	17,931	15,218	15,455	14,914	14,485	13,609	12,961
Total Cost of Revenue	13,383	12,606	12,294	11,111	9,341	9,496	9,249	9,021	8,486	8,231
Operating Cost of Revenue	13,383	12,606	12,294	11,111	9,341	9,496	9,249	9,021	8,486	8,231
Total Operating Expenses	4,617	4,245	4,039	3,855	3,443	3,253	2,876	2,828	2,827	2,685
Selling, General & Admin Expense	2,264	1,926	1,938	1,864	1,728	1,631	1,453	1,468	1,410	1,343
Depreciation Expense	2,267	2,071	2,038	1,999	1,671	1,574	1,477	1,376	1,301	1,245
Impairment Charge	82	243	62	-16	35	42	-58	-16	112	82
Restructuring Charge	4.00	5.00	1.00	8.00	9.00	6.00	4.00	0.00	4.00	15
Total Other Income / (Expense), net	-605	-554	-447	-616	-541	-601	-413	-445	-474	-985
Interest Expense	7.00	0.00	0.00	220	53	85	0.00	6.00	-	555
Interest & Investment Income	-594	-560	-445	-401	-493	-466	-415	-431	-420	-423
Other Income / (Expense), net	-4.00	6.00	-2.00	5.00	5.00	-50	2.00	-8.00	-54	-7.00
Income Tax Expense	713	745	678	532	397	434	453	242	642	308
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.00	-28	2.00	1.00	0.00	1.00	-2.00	0.00	-2.00	-1.00
Basic Earnings per Share	$6.84	$5.69	$5.42	$4.32	$3.54	$3.93	$4.49	$4.44	$2.66	$1.66
Weighted Average Basic Shares Outstanding	402.12M	401.60M	408.15M	414.59M	423.15M	424.71M	429.10M	438.80M	439.70M	445.65M
Diluted Earnings per Share	$6.81	$5.66	$5.39	$4.29	$3.52	$3.91	$4.45	$4.41	$2.65	$1.65
Weighted Average Diluted Shares Outstanding	402.12M	401.60M	408.15M	414.59M	423.15M	424.71M	429.10M	438.80M	439.70M	445.65M
Weighted Average Basic & Diluted Shares Outstanding	402.12M	401.60M	408.15M	414.59M	423.15M	424.71M	429.10M	438.80M	439.70M	445.65M
Cash Dividends to Common per Share	$3.00	$2.80	$2.60	$2.30	$2.18	$2.05	$1.86	$1.70	$1.64	$1.54

This table shows Waste Management's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	637	598	760	680	708	493	663	615	533	499	639
Consolidated Net Income / (Loss)	637	598	760	680	707	469	662	613	532	500	639
Net Income / (Loss) Continuing Operations	637	598	760	680	707	469	662	613	532	500	639
Total Pre-Tax Income	788	700	995	894	869	644	872	809	696	643	828
Total Operating Income	1,013	919	1,119	1,009	1,016	785	1,021	944	825	765	942
Total Gross Profit	2,371	2,340	2,210	2,111	2,019	2,071	2,010	1,933	1,806	1,842	1,919
Total Revenue	6,018	5,893	5,609	5,402	5,159	5,217	5,198	5,119	4,892	4,935	5,075
Operating Revenue	6,018	5,893	5,609	5,402	5,159	5,217	5,198	5,119	4,892	4,935	5,075
Total Cost of Revenue	3,647	3,553	3,399	3,291	3,140	3,146	3,188	3,186	3,086	3,093	3,156
Operating Cost of Revenue	3,647	3,553	3,399	3,291	3,140	3,146	3,188	3,186	3,086	3,093	3,156
Total Operating Expenses	1,358	1,421	1,091	1,102	1,003	1,286	989	989	981	1,077	977
Selling, General & Admin Expense	687	747	525	501	491	513	470	467	476	487	473
Depreciation Expense	656	652	558	543	514	526	519	521	505	545	503
Impairment Charge	2.00	20	6.00	58	-2.00	246	0.00	0.00	-3.00	45	0.00
Restructuring Charge	13	2.00	2.00	0.00	0.00	1.00	0.00	1.00	3.00	-	1.00
Total Other Income / (Expense), net	-225	-219	-124	-115	-147	-141	-149	-135	-129	-122	-114
Interest & Investment Income	-227	-201	-130	-114	-149	-147	-145	-137	-131	-127	-108
Other Income / (Expense), net	2.00	-11	6.00	-1.00	2.00	6.00	-4.00	2.00	2.00	5.00	-6.00
Income Tax Expense	151	102	235	214	162	175	210	196	164	143	189
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	0.00	0.00	-1.00	-24	-1.00	-2.00	-1.00	1.00	0.00
Basic Earnings per Share	$1.58	$1.49	$1.89	$1.70	$1.76	$1.22	$1.64	$1.52	$1.31	$1.21	$1.55
Weighted Average Basic Shares Outstanding	402.41M	402.12M	401.37M	401.31M	401.08M	401.60M	402.78M	405.06M	406.82M	408.15M	410.48M
Diluted Earnings per Share	$1.58	$1.49	$1.88	$1.69	$1.75	$1.22	$1.63	$1.51	$1.30	$1.21	$1.54
Weighted Average Diluted Shares Outstanding	402.41M	402.12M	401.37M	401.31M	401.08M	401.60M	402.78M	405.06M	406.82M	408.15M	410.48M
Weighted Average Basic & Diluted Shares Outstanding	402.41M	402.12M	401.37M	401.31M	401.08M	401.60M	402.78M	405.06M	406.82M	408.15M	410.48M
Cash Dividends to Common per Share	$0.83	-	$0.75	$0.75	$0.75	-	$0.70	$0.70	$0.70	-	$0.65

This table details how cash moves in and out of Waste Management's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-65	107	251	-454	-2,999	3,464	-110	199	-10	-1,268
Net Cash From Operating Activities	5,390	4,719	4,536	4,338	3,403	3,874	3,570	3,180	3,003	2,528
Net Cash From Continuing Operating Activities	5,390	4,719	4,536	4,338	3,403	3,874	3,570	3,180	3,003	2,528
Net Income / (Loss) Continuing Operations	2,745	2,276	2,240	1,817	1,496	1,671	1,923	1,949	1,180	752
Consolidated Net Income / (Loss)	2,745	2,276	2,240	1,817	1,496	1,671	1,923	1,949	1,180	752
Depreciation Expense	2,267	2,071	2,038	1,999	1,671	1,574	1,477	1,376	1,301	1,245
Non-Cash Adjustments To Reconcile Net Income	285	540	354	473	398	449	174	304	357	864
Changes in Operating Assets and Liabilities, net	93	-168	-96	49	-162	180	-4.00	-449	165	-333
Net Cash From Investing Activities	-10,601	-3,091	-3,063	-1,894	-4,847	-2,376	-2,169	-1,620	-1,929	-1,608
Net Cash From Continuing Investing Activities	-10,601	-3,091	-3,063	-1,894	-4,847	-2,376	-2,169	-1,620	-1,929	-1,608
Purchase of Property, Plant & Equipment	-3,231	-2,895	-2,587	-1,904	-1,632	-1,818	-1,694	-1,509	-1,339	-1,233
Acquisitions	-7,488	-170	-377	-75	-4,085	-521	-460	-198	-608	-554
Divestitures	158	78	27	96	885	49	208	99	43	145
Other Investing Activities, net	-40	-104	-126	-11	-15	-86	-223	-12	-25	34
Net Cash From Financing Activities	5,155	-1,524	-1,216	-2,900	-1,559	1,964	-1,508	-1,361	-1,084	-2,185
Net Cash From Continuing Financing Activities	5,155	-1,524	-1,216	-2,900	-1,559	1,964	-1,508	-1,361	-1,084	-2,185
Repayment of Debt	-17,952	-20,405	-7,332	-8,566	-9,679	-10,183	-84	-1,915	-2,723	-3,289
Repurchase of Common Equity	-262	-1,302	-1,500	-1,350	-402	-248	-1,004	-750	-725	-600
Payment of Dividends	-1,210	-1,136	-1,077	-970	-927	-876	-802	-750	-726	-695
Issuance of Debt	24,578	21,306	8,688	7,948	9,420	13,237	359	2,006	3,057	2,337
Other Financing Activities, net	1.00	13	5.00	38	29	34	23	48	33	62
Effect of Exchange Rate Changes	-9.00	3.00	-6.00	2.00	4.00	2.00	-3.00	-	0.00	-3.00

This table details how cash moves in and out of Waste Management's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-156	-200	441	-179	-127	302	-13	-129	-53	197	-745
Net Cash From Operating Activities	1,208	1,511	1,358	1,154	1,367	1,382	1,263	1,030	1,044	1,049	1,182
Net Cash From Continuing Operating Activities	1,208	1,511	1,358	1,154	1,367	1,382	1,263	1,039	1,035	1,049	1,182
Net Income / (Loss) Continuing Operations	637	598	760	680	707	469	662	613	532	500	639
Consolidated Net Income / (Loss)	637	598	760	680	707	469	662	613	532	500	639
Depreciation Expense	656	652	558	543	514	526	519	521	505	545	503
Non-Cash Adjustments To Reconcile Net Income	93	79	54	72	80	331	77	76	56	102	83
Changes in Operating Assets and Liabilities, net	-178	182	-14	-141	66	56	5.00	-171	-58	-98	-43
Net Cash From Investing Activities	-829	-7,762	-480	-1,604	-755	-1,084	-668	-561	-778	-1,027	-936
Net Cash From Continuing Investing Activities	-829	-7,762	-480	-1,604	-755	-1,084	-668	-561	-778	-1,027	-936
Purchase of Property, Plant & Equipment	-831	-1,115	-781	-667	-668	-1,042	-673	-520	-660	-862	-757
Acquisitions	-3.00	-6,706	-539	-232	-11	-31	-21	-84	-34	-170	-197
Divestitures	98	59	41	43	15	10	22	35	11	9.00	7.00
Other Investing Activities, net	-93	-	799	-748	-91	-21	4.00	8.00	-95	-4.00	11
Net Cash From Financing Activities	-536	6,058	-439	273	-737	1.00	-606	-600	-319	175	-984
Net Cash From Continuing Financing Activities	-536	6,058	-439	273	-737	1.00	-606	-600	-319	175	-984
Repayment of Debt	-5,173	-7,313	-1,877	-4,186	-4,576	-3,405	-5,920	-4,531	-6,549	-1,897	-746
Repurchase of Common Equity	0.00	-	-	-12	-250	-312	-370	-270	-350	-439	-541
Payment of Dividends	-336	-301	-301	-301	-307	-281	-283	-283	-289	-266	-267
Issuance of Debt	4,993	13,664	1,734	4,768	4,412	3,987	5,963	4,471	6,885	2,772	556
Other Financing Activities, net	-20	8.00	5.00	4.00	-16	12	4.00	13	-16	5.00	14
Effect of Exchange Rate Changes	1.00	-7.00	2.00	-2.00	-2.00	3.00	-2.00	-	-	-	-7.00

This table presents Waste Management's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	44,567	32,823	31,367	29,097	29,345	27,743	22,650	21,829	20,859	20,367
Total Current Assets	4,774	3,804	3,551	3,069	3,540	6,209	2,645	2,694	2,376	2,345
Cash & Equivalents	414	458	351	118	553	3,561	61	22	32	39
Accounts Receivable	3,687	2,870	2,752	2,546	2,624	2,319	2,275	2,374	2,132	2,094
Inventories, net	206	173	164	135	124	106	102	96	90	92
Other Current Assets	467	303	284	270	239	223	207	202	122	120
Plant, Property, & Equipment, net	19,340	16,968	15,719	14,419	14,148	12,893	11,942	11,559	10,950	10,665
Total Noncurrent Assets	20,453	12,051	12,097	11,609	11,657	8,641	8,063	7,576	7,533	7,357
Long-Term Investments	1,259	1,028	926	780	773	796	702	518	425	360
Goodwill	13,438	9,254	9,323	9,028	8,994	6,532	6,430	6,247	6,215	5,984
Intangible Assets	4,188	759	827	898	1,024	521	572	547	591	477
Other Noncurrent Operating Assets	1,568	1,010	1,021	903	866	792	359	264	302	536
Total Liabilities & Shareholders' Equity	44,567	32,823	31,367	29,097	29,345	27,743	22,650	21,829	20,859	20,367
Total Liabilities	36,313	25,927	24,503	21,971	21,891	20,673	16,374	15,787	15,539	15,000
Total Current Liabilities	6,258	4,226	4,394	4,082	3,553	3,144	3,108	3,262	2,794	2,510
Short-Term Debt	1,359	334	414	708	551	218	432	739	417	253
Accounts Payable	2,046	1,709	1,766	1,375	1,121	1,065	1,037	1,040	799	721
Accrued Expenses	2,180	1,605	1,625	1,428	1,342	1,327	1,117	980	1,085	1,064
Current Deferred Revenue	673	578	589	571	539	534	522	503	493	472
Total Noncurrent Liabilities	30,055	21,701	20,109	17,889	18,338	17,529	13,266	12,525	12,745	12,490
Long-Term Debt	22,541	15,895	14,570	12,697	13,259	13,280	9,594	8,752	8,893	8,676
Asset Retirement Reserve & Litigation Obligation	3,048	2,888	2,700	2,373	2,222	1,930	1,828	1,770	1,675	1,584
Noncurrent Deferred & Payable Income Tax Liabilities	2,815	1,826	1,733	1,694	1,806	1,407	1,291	1,248	1,482	1,391
Other Noncurrent Operating Liabilities	1,651	1,092	1,106	1,125	1,051	912	553	755	695	839
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	8,254	6,896	6,864	7,126	7,454	7,070	6,276	6,042	5,320	5,367
Total Preferred & Common Equity	8,252	6,903	6,849	7,124	7,452	7,068	6,275	6,019	5,297	5,345
Total Common Equity	8,252	6,903	6,849	7,124	7,452	7,068	6,275	6,019	5,297	5,345
Common Stock	5,502	5,357	5,320	5,175	5,135	5,055	4,999	4,939	4,856	4,833
Retained Earnings	15,858	14,334	13,167	12,004	11,159	10,592	9,797	8,588	7,388	6,939
Treasury Stock	-12,993	-12,751	-11,569	-10,072	-8,881	-8,571	-8,434	-7,516	-6,867	-6,300
Accumulated Other Comprehensive Income / (Loss)	-115	-37	-69	17	39	-8.00	-87	8.00	-80	-127
Noncontrolling Interest	2.00	-7.00	15	2.00	2.00	2.00	1.00	23	23	22

This table presents Waste Management's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	44,486	44,567	34,730	33,999	32,666	32,823	31,935	31,614	31,290	31,367	29,841
Total Current Assets	4,455	4,774	4,259	4,439	3,529	3,804	3,562	3,480	3,371	3,551	3,264
Cash & Equivalents	216	414	614	172	322	458	150	144	257	351	137
Accounts Receivable	3,588	3,687	3,125	2,980	2,685	2,870	2,917	2,846	2,608	2,752	2,676
Inventories, net	218	206	184	183	189	173	175	170	170	164	159
Other Current Assets	433	467	336	1,104	333	303	320	320	336	284	292
Plant, Property, & Equipment, net	19,553	19,340	17,931	17,420	17,044	16,968	16,229	15,917	15,705	15,719	14,742
Total Noncurrent Assets	20,478	20,453	12,540	12,140	12,093	12,051	12,144	12,217	12,214	12,097	11,835
Long-Term Investments	1,378	1,259	981	1,017	1,113	1,028	966	1,023	1,045	926	967
Goodwill	13,529	13,438	9,822	9,363	9,246	9,254	9,398	9,399	9,344	9,323	9,092
Intangible Assets	4,015	4,188	742	753	728	759	779	809	823	827	847
Other Noncurrent Operating Assets	1,556	1,568	995	1,007	1,006	1,010	1,001	986	1,002	1,021	929
Total Liabilities & Shareholders' Equity	44,486	44,567	34,730	33,999	32,666	32,823	31,935	31,614	31,290	31,367	29,841
Total Liabilities	35,835	36,313	26,758	26,548	25,588	25,927	24,969	24,686	24,482	24,503	22,829
Total Current Liabilities	5,347	6,258	4,779	4,136	3,949	4,226	4,218	4,251	3,856	4,394	3,834
Short-Term Debt	954	1,359	676	242	336	334	297	513	336	414	258
Accounts Payable	1,901	2,046	1,853	1,785	1,617	1,709	1,738	1,626	1,510	1,766	1,489
Accrued Expenses	1,807	2,180	1,651	1,525	1,410	1,605	1,596	1,544	1,426	1,625	1,496
Current Deferred Revenue	685	673	599	584	586	578	587	568	584	589	591
Total Noncurrent Liabilities	30,488	30,055	21,979	22,412	21,639	21,701	20,751	20,435	20,626	20,109	18,995
Long-Term Debt	22,883	22,541	15,977	16,501	15,762	15,895	15,133	14,855	15,034	14,570	13,805
Asset Retirement Reserve & Litigation Obligation	3,081	3,048	2,965	2,936	2,912	2,888	2,727	2,734	2,729	2,700	2,436
Noncurrent Deferred & Payable Income Tax Liabilities	2,841	2,815	1,883	1,826	1,880	1,826	1,811	1,778	1,784	1,733	1,629
Other Noncurrent Operating Liabilities	1,683	1,651	1,154	1,149	1,085	1,092	1,080	1,068	1,079	1,106	1,125
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	8,651	8,254	7,972	7,451	7,078	6,896	6,966	6,928	6,808	6,864	7,012
Total Preferred & Common Equity	8,650	8,252	7,979	7,457	7,082	6,903	6,950	6,909	6,794	6,849	7,010
Total Common Equity	8,650	8,252	7,979	7,457	7,082	6,903	6,950	6,909	6,794	6,849	7,010
Common Stock	5,521	5,502	5,491	5,439	5,358	5,357	5,391	5,347	5,250	5,320	5,305
Retained Earnings	16,160	15,858	15,563	15,104	14,738	14,334	14,124	13,744	13,414	13,167	12,933
Treasury Stock	-12,944	-12,993	-12,999	-13,013	-12,954	-12,751	-12,507	-12,150	-11,813	-11,569	-11,136
Accumulated Other Comprehensive Income / (Loss)	-87	-115	-76	-73	-60	-37	-58	-32	-57	-69	-92
Noncontrolling Interest	1.00	2.00	-7.00	-6.00	-4.00	-7.00	16	19	14	15	2.00

This table displays calculated financial ratios and metrics derived from Waste Management's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.01%	3.70%	9.85%	17.83%	-1.53%	3.63%	2.96%	6.44%	5.00%	-7.40%
EBITDA Growth	11.93%	4.65%	8.69%	20.90%	-2.84%	-0.89%	6.59%	13.01%	7.92%	-7.83%
EBIT Growth	13.35%	6.48%	13.23%	21.77%	-8.17%	-4.84%	6.20%	17.22%	10.01%	-10.22%
NOPAT Growth	19.75%	4.27%	12.63%	19.23%	-10.45%	-4.84%	-3.74%	57.69%	2.49%	-17.42%
Net Income Growth	20.61%	1.61%	23.28%	21.46%	-10.47%	-13.10%	-1.33%	65.17%	56.91%	-43.80%
EPS Growth	20.32%	5.01%	25.64%	21.88%	-9.97%	-12.13%	0.91%	66.42%	60.61%	-40.86%
Operating Cash Flow Growth	14.22%	4.03%	4.56%	27.48%	-12.16%	8.52%	12.26%	5.89%	18.79%	8.45%
Free Cash Flow Firm Growth	-445.57%	-1.20%	-36.69%	244.08%	-222.18%	-13.74%	12.22%	25.92%	4.14%	-68.80%
Invested Capital Growth	40.86%	5.19%	4.78%	-1.53%	22.99%	4.32%	3.64%	5.79%	1.99%	2.12%
Revenue Q/Q Growth	3.16%	1.40%	1.32%	3.53%	1.47%	0.03%	1.29%	1.34%	1.60%	-1.45%
EBITDA Q/Q Growth	3.99%	0.04%	1.47%	2.98%	1.01%	-3.14%	2.23%	2.82%	3.81%	-6.79%
EBIT Q/Q Growth	2.97%	0.59%	1.30%	2.41%	0.00%	-5.75%	2.38%	3.18%	5.56%	-10.26%
NOPAT Q/Q Growth	6.75%	-0.82%	1.11%	1.89%	-1.48%	-3.01%	-16.98%	41.12%	4.13%	-25.93%
Net Income Q/Q Growth	4.93%	-1.34%	-0.27%	3.89%	-0.60%	-4.79%	-16.21%	41.23%	5.45%	-30.18%
EPS Q/Q Growth	4.13%	0.18%	0.37%	3.87%	-0.57%	-4.40%	-15.72%	42.26%	6.43%	-29.18%
Operating Cash Flow Q/Q Growth	2.45%	7.59%	1.30%	5.80%	-7.33%	2.92%	3.48%	1.31%	6.94%	5.11%
Free Cash Flow Firm Q/Q Growth	-541.83%	15.55%	-14.17%	359.86%	-179.43%	25.54%	1.81%	-6.26%	26.14%	-37.37%
Invested Capital Q/Q Growth	32.35%	1.69%	3.00%	1.55%	23.98%	-1.15%	1.16%	4.68%	-0.80%	0.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.34%	38.28%	37.59%	38.03%	38.62%	38.56%	37.98%	37.72%	37.64%	36.49%
EBITDA Margin	28.67%	27.67%	27.42%	27.71%	27.01%	27.37%	28.62%	27.64%	26.03%	25.33%
Operating Margin	18.42%	17.50%	17.08%	16.54%	15.99%	17.51%	18.70%	18.20%	16.87%	15.78%
EBIT Margin	18.40%	17.53%	17.07%	16.56%	16.03%	17.19%	18.71%	18.14%	16.47%	15.72%
Profit (Net Income) Margin	12.44%	11.14%	11.37%	10.13%	9.83%	10.81%	12.89%	13.46%	8.67%	5.80%
Tax Burden Percent	79.38%	75.34%	76.76%	77.35%	79.03%	79.38%	80.93%	88.95%	64.76%	70.94%
Interest Burden Percent	85.19%	84.36%	86.77%	79.09%	77.61%	79.25%	85.13%	83.37%	81.27%	52.01%
Effective Tax Rate	20.62%	24.66%	23.24%	22.65%	20.97%	20.62%	19.07%	11.05%	35.24%	29.06%
Return on Invested Capital (ROIC)	12.38%	12.76%	12.85%	11.59%	10.64%	13.53%	14.79%	16.08%	10.59%	10.55%
ROIC Less NNEP Spread (ROIC-NNEP)	9.78%	9.83%	10.23%	7.78%	6.69%	8.35%	11.12%	11.63%	7.06%	1.95%
Return on Net Nonoperating Assets (RNNOA)	23.86%	20.32%	19.17%	13.33%	9.96%	11.51%	16.44%	18.23%	11.49%	2.81%
Return on Equity (ROE)	36.24%	33.08%	32.02%	24.92%	20.60%	25.04%	31.22%	34.31%	22.08%	13.36%
Cash Return on Invested Capital (CROIC)	-21.55%	7.70%	8.18%	13.13%	-9.98%	9.30%	11.21%	10.46%	8.63%	8.45%
Operating Return on Assets (OROA)	10.49%	11.16%	11.12%	10.16%	8.54%	10.54%	12.55%	12.31%	10.88%	9.78%
Return on Assets (ROA)	7.09%	7.09%	7.41%	6.22%	5.24%	6.63%	8.65%	9.13%	5.72%	3.61%
Return on Common Equity (ROCE)	36.25%	33.06%	31.98%	24.92%	20.59%	25.04%	31.16%	34.17%	21.99%	13.31%
Return on Equity Simple (ROE_SIMPLE)	33.26%	32.97%	32.71%	25.51%	20.08%	23.64%	30.65%	32.38%	22.28%	14.07%
Net Operating Profit after Tax (NOPAT)	3,225	2,693	2,583	2,293	1,924	2,148	2,257	2,345	1,487	1,451
NOPAT Margin	14.62%	13.19%	13.11%	12.79%	12.64%	13.90%	15.14%	16.19%	10.93%	11.19%
Net Nonoperating Expense Percent (NNEP)	2.60%	2.93%	2.62%	3.81%	3.95%	5.18%	3.67%	4.45%	3.53%	8.60%
Return On Investment Capital (ROIC_SIMPLE)	10.03%	11.65%	11.82%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	60.66%	61.72%	62.41%	61.97%	61.38%	61.44%	62.02%	62.28%	62.36%	63.51%
SG&A Expenses to Revenue	10.26%	9.43%	9.84%	10.40%	11.36%	10.55%	9.74%	10.13%	10.36%	10.36%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.93%	20.78%	20.50%	21.50%	22.62%	21.05%	19.28%	19.52%	20.77%	20.72%
Earnings before Interest and Taxes (EBIT)	4,059	3,581	3,363	2,970	2,439	2,656	2,791	2,628	2,242	2,038
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,326	5,652	5,401	4,969	4,110	4,230	4,268	4,004	3,543	3,283
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.81	10.30	9.11	9.48	6.36	6.39	5.54	5.59	5.19	3.81
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	3,009.31	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.67	3.48	3.17	3.77	3.12	2.92	2.33	2.32	2.02	1.57
Price to Earnings (P/E)	29.49	30.87	27.87	37.18	31.70	27.03	18.07	17.25	23.27	27.05
Dividend Yield	1.49%	1.59%	1.71%	1.43%	1.94%	1.93%	2.28%	2.20%	2.64%	3.38%
Earnings Yield	3.39%	3.24%	3.59%	2.69%	3.15%	3.70%	5.54%	5.80%	4.30%	3.70%
Enterprise Value to Invested Capital (EV/IC)	3.39	3.97	3.70	4.08	3.00	3.35	2.83	2.84	2.57	2.08
Enterprise Value to Revenue (EV/Rev)	4.68	4.20	3.86	4.46	3.94	3.51	2.95	2.94	2.67	2.23
Enterprise Value to EBITDA (EV/EBITDA)	16.32	15.19	14.09	16.10	14.58	12.83	10.32	10.64	10.27	8.81
Enterprise Value to EBIT (EV/EBIT)	25.43	23.97	22.63	26.94	24.56	20.44	15.78	16.21	16.23	14.19
Enterprise Value to NOPAT (EV/NOPAT)	32.00	31.88	29.46	34.89	31.14	25.27	19.51	18.17	24.46	19.94
Enterprise Value to Operating Cash Flow (EV/OCF)	19.15	18.19	16.78	18.45	17.60	14.01	12.34	13.40	12.11	11.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	52.82	46.26	30.80	0.00	36.77	25.74	27.94	30.04	24.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.90	2.35	2.18	1.88	1.85	1.91	1.60	1.57	1.75	1.66
Long-Term Debt to Equity	2.73	2.31	2.12	1.78	1.78	1.88	1.53	1.45	1.67	1.62
Financial Leverage	2.44	2.07	1.87	1.71	1.49	1.38	1.48	1.57	1.63	1.44
Leverage Ratio	5.11	4.67	4.32	4.01	3.93	3.78	3.61	3.76	3.86	3.70
Compound Leverage Factor	4.35	3.94	3.75	3.17	3.05	2.99	3.07	3.13	3.13	1.93
Debt to Total Capital	74.33%	70.18%	68.58%	65.29%	64.95%	65.63%	61.50%	61.10%	63.64%	62.46%
Short-Term Debt to Total Capital	4.23%	1.44%	1.89%	3.45%	2.59%	1.06%	2.65%	4.76%	2.85%	1.77%
Long-Term Debt to Total Capital	70.10%	68.74%	66.69%	61.84%	62.35%	64.57%	58.85%	56.34%	60.79%	60.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	-0.03%	0.07%	0.01%	0.01%	0.01%	0.01%	0.15%	0.16%	0.15%
Common Equity to Total Capital	25.66%	29.85%	31.35%	34.70%	35.05%	34.36%	38.49%	38.75%	36.21%	37.39%
Debt to EBITDA	3.78	2.87	2.77	2.70	3.36	3.19	2.35	2.37	2.63	2.72
Net Debt to EBITDA	3.51	2.61	2.54	2.52	3.04	2.16	2.17	2.24	2.50	2.60
Long-Term Debt to EBITDA	3.56	2.81	2.70	2.56	3.23	3.14	2.25	2.19	2.51	2.64
Debt to NOPAT	7.41	6.03	5.80	5.84	7.18	6.28	4.44	4.05	6.26	6.15
Net Debt to NOPAT	6.89	5.47	5.31	5.45	6.49	4.26	4.10	3.82	5.95	5.88
Long-Term Debt to NOPAT	6.99	5.90	5.64	5.54	6.89	6.18	4.25	3.73	5.98	5.98
Altman Z-Score	2.59	3.22	3.06	3.33	2.62	2.85	2.92	2.86	2.54	2.25
Noncontrolling Interest Sharing Ratio	-0.03%	0.06%	0.12%	0.03%	0.03%	0.02%	0.19%	0.40%	0.42%	0.40%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.76	0.90	0.81	0.75	1.00	1.97	0.85	0.83	0.85	0.93
Quick Ratio	0.66	0.79	0.71	0.65	0.89	1.87	0.75	0.73	0.77	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5,617	1,625	1,645	2,598	-1,803	1,476	1,711	1,525	1,211	1,163
Operating Cash Flow to CapEx	166.82%	163.01%	175.34%	227.84%	208.52%	213.09%	210.74%	210.74%	224.27%	205.03%
Free Cash Flow to Firm to Interest Expense	-802.39	0.00	0.00	11.81	-34.03	17.37	0.00	254.14	0.00	2.10
Operating Cash Flow to Interest Expense	770.00	0.00	0.00	19.72	64.21	45.58	0.00	530.00	0.00	4.56
Operating Cash Flow Less CapEx to Interest Expense	308.43	0.00	0.00	11.06	33.42	24.19	0.00	278.50	0.00	2.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.64	0.65	0.61	0.53	0.61	0.67	0.68	0.66	0.62
Accounts Receivable Turnover	6.73	7.27	7.44	6.94	6.16	6.73	6.42	6.43	6.44	6.43
Inventory Turnover	70.62	74.81	82.23	85.80	81.23	91.31	93.42	97.00	93.25	83.14
Fixed Asset Turnover	1.22	1.25	1.31	1.26	1.13	1.24	1.27	1.29	1.26	1.22
Accounts Payable Turnover	7.13	7.26	7.83	8.90	8.55	9.04	8.91	9.81	11.17	11.27
Days Sales Outstanding (DSO)	54.24	50.23	49.09	52.62	59.28	54.25	56.89	56.77	56.67	56.76
Days Inventory Outstanding (DIO)	5.17	4.88	4.44	4.25	4.49	4.00	3.91	3.76	3.91	4.39
Days Payable Outstanding (DPO)	51.21	50.31	46.63	41.00	42.71	40.40	40.98	37.20	32.69	32.39
Cash Conversion Cycle (CCC)	8.20	4.80	6.90	15.88	21.06	17.85	19.81	23.33	27.90	28.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	30,481	21,639	20,571	19,633	19,938	16,211	15,539	14,993	14,173	13,897
Invested Capital Turnover	0.85	0.97	0.98	0.91	0.84	0.97	0.98	0.99	0.97	0.94
Increase / (Decrease) in Invested Capital	8,842	1,068	938	-305	3,727	672	546	820	276	288
Enterprise Value (EV)	103,221	85,853	76,097	80,020	59,908	54,283	44,039	42,602	36,379	28,922
Market Capitalization	80,992	71,117	62,375	67,511	47,422	45,140	34,775	33,628	27,503	20,370
Book Value per Share	$20.56	$17.14	$16.69	$17.03	$17.63	$16.66	$14.72	$13.86	$11.98	$11.97
Tangible Book Value per Share	($23.36)	($7.72)	($8.04)	($6.70)	($6.07)	$0.04	($1.71)	($1.78)	($3.41)	($2.50)
Total Capital	32,154	23,125	21,848	20,531	21,264	20,568	16,302	15,533	14,630	14,296
Total Debt	23,900	16,229	14,984	13,405	13,810	13,498	10,026	9,491	9,310	8,929
Total Long-Term Debt	22,541	15,895	14,570	12,697	13,259	13,280	9,594	8,752	8,893	8,676
Net Debt	22,227	14,743	13,707	12,507	12,484	9,141	9,263	8,951	8,853	8,530
Capital Expenditures (CapEx)	3,231	2,895	2,587	1,904	1,632	1,818	1,694	1,509	1,339	1,233
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-539	-546	-780	-423	-15	-278	-92	149	-33	49
Debt-free Net Working Capital (DFNWC)	-125	-88	-429	-305	538	3,283	-31	171	-1.00	88
Net Working Capital (NWC)	-1,484	-422	-843	-1,013	-13	3,065	-463	-568	-418	-165
Net Nonoperating Expense (NNE)	480	417	343	476	428	477	334	396	307	699
Net Nonoperating Obligations (NNO)	22,227	14,743	13,707	12,507	12,484	9,141	9,263	8,951	8,853	8,530
Total Depreciation and Amortization (D&A)	2,267	2,071	2,038	1,999	1,671	1,574	1,477	1,376	1,301	1,245
Debt-free, Cash-free Net Working Capital to Revenue	-2.44%	-2.67%	-3.96%	-2.36%	-0.10%	-1.80%	-0.62%	1.03%	-0.24%	0.38%
Debt-free Net Working Capital to Revenue	-0.57%	-0.43%	-2.18%	-1.70%	3.54%	21.24%	-0.21%	1.18%	-0.01%	0.68%
Net Working Capital to Revenue	-6.73%	-2.07%	-4.28%	-5.65%	-0.09%	19.83%	-3.10%	-3.92%	-3.07%	-1.27%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.84	$5.69	$5.42	$4.32	$3.54	$3.93	$4.49	$4.44	$2.66	$1.66
Adjusted Weighted Average Basic Shares Outstanding	402.12M	401.60M	408.15M	414.59M	423.15M	424.71M	423.78M	433.67M	439.70M	445.65M
Adjusted Diluted Earnings per Share	$6.81	$5.66	$5.39	$4.29	$3.52	$3.91	$4.45	$4.41	$2.65	$1.65
Adjusted Weighted Average Diluted Shares Outstanding	402.12M	401.60M	408.15M	414.59M	423.15M	424.71M	423.78M	433.67M	439.70M	445.65M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.93	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	402.12M	401.60M	408.15M	414.59M	423.15M	424.71M	423.78M	433.67M	439.70M	445.65M
Normalized Net Operating Profit after Tax (NOPAT)	3,294	2,880	2,632	2,287	1,958	2,186	2,214	2,331	1,562	1,520
Normalized NOPAT Margin	14.93%	14.10%	13.36%	12.76%	12.87%	14.15%	14.84%	16.09%	11.48%	11.72%
Pre Tax Income Margin	15.67%	14.79%	14.81%	13.10%	12.44%	13.62%	15.93%	15.13%	13.39%	8.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	579.86	0.00	0.00	13.50	46.02	31.25	0.00	438.00	0.00	3.67
NOPAT to Interest Expense	460.75	0.00	0.00	10.42	36.29	25.27	0.00	390.81	0.00	2.61
EBIT Less CapEx to Interest Expense	118.29	0.00	0.00	4.85	15.23	9.86	0.00	186.50	0.00	1.45
NOPAT Less CapEx to Interest Expense	-0.82	0.00	0.00	1.77	5.50	3.88	0.00	139.31	0.00	0.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	44.08%	49.91%	48.08%	53.38%	61.97%	52.42%	41.71%	38.48%	61.53%	92.42%
Augmented Payout Ratio	53.62%	107.12%	115.04%	127.68%	88.84%	67.27%	93.92%	76.96%	122.97%	172.21%

This table displays calculated financial ratios and metrics derived from Waste Management's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.65%	12.96%	7.91%	5.53%	5.46%	5.71%	2.42%	1.83%	4.96%	5.49%	8.79%
EBITDA Growth	9.07%	18.45%	9.57%	5.73%	15.02%	0.15%	6.74%	5.24%	6.30%	6.31%	8.69%
EBIT Growth	-0.29%	14.79%	10.62%	6.55%	23.10%	2.73%	8.65%	6.77%	7.26%	5.91%	15.99%
NOPAT Growth	-0.93%	37.33%	10.27%	7.29%	31.08%	-3.90%	6.62%	6.25%	7.19%	5.12%	18.14%
Net Income Growth	-9.90%	27.51%	14.80%	10.93%	32.89%	-6.20%	3.60%	4.43%	3.50%	-1.19%	18.55%
EPS Growth	-9.71%	22.13%	15.34%	11.92%	34.62%	0.83%	5.84%	7.09%	5.69%	1.68%	20.31%
Operating Cash Flow Growth	-11.63%	9.33%	7.52%	12.04%	30.94%	31.74%	6.85%	-1.62%	-17.01%	5.85%	-0.17%
Free Cash Flow Firm Growth	-21,601.21%	-1,523.35%	-67.69%	-31.54%	95.40%	-44.64%	-700.02%	-222.27%	-212.10%	-139.40%	103.38%
Invested Capital Growth	42.10%	40.86%	8.22%	8.88%	4.14%	5.19%	6.55%	7.96%	7.55%	4.78%	3.30%
Revenue Q/Q Growth	2.12%	5.06%	3.83%	4.71%	-1.11%	0.37%	1.54%	4.64%	-0.87%	-2.76%	0.95%
EBITDA Q/Q Growth	7.12%	-7.31%	8.51%	1.24%	16.33%	-14.26%	4.70%	10.14%	1.29%	-8.62%	3.23%
EBIT Q/Q Growth	11.78%	-19.29%	11.61%	-0.98%	28.70%	-22.22%	7.51%	14.39%	7.40%	-17.74%	5.64%
NOPAT Q/Q Growth	4.30%	-8.15%	11.37%	-7.15%	44.59%	-26.25%	8.36%	13.43%	6.01%	-18.17%	7.98%
Net Income Q/Q Growth	6.52%	-21.32%	11.76%	-3.82%	50.75%	-29.15%	7.99%	15.23%	6.40%	-21.75%	8.86%
EPS Q/Q Growth	6.04%	-20.74%	11.24%	-3.43%	43.44%	-25.15%	7.95%	16.15%	7.44%	-21.43%	9.22%
Operating Cash Flow Q/Q Growth	-20.05%	11.27%	17.68%	-15.58%	-1.09%	9.42%	22.62%	-1.34%	-0.48%	-11.25%	12.89%
Free Cash Flow Firm Q/Q Growth	-3.44%	-799.93%	19.24%	-2,786.50%	92.26%	7.04%	36.65%	-1.00%	-143.17%	-485.64%	-87.09%
Invested Capital Q/Q Growth	1.35%	32.35%	0.11%	5.81%	0.47%	1.69%	0.71%	1.21%	1.48%	3.00%	2.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.40%	39.71%	39.40%	39.08%	39.14%	39.70%	38.67%	37.76%	36.92%	37.33%	37.81%
EBITDA Margin	27.77%	26.47%	30.01%	28.71%	29.70%	25.24%	29.55%	28.66%	27.23%	26.65%	28.35%
Operating Margin	16.83%	15.59%	19.95%	18.68%	19.69%	15.05%	19.64%	18.44%	16.86%	15.50%	18.56%
EBIT Margin	16.87%	15.41%	20.06%	18.66%	19.73%	15.16%	19.57%	18.48%	16.91%	15.60%	18.44%
Profit (Net Income) Margin	10.58%	10.15%	13.55%	12.59%	13.70%	8.99%	12.74%	11.98%	10.87%	10.13%	12.59%
Tax Burden Percent	80.84%	85.43%	76.38%	76.06%	81.36%	72.83%	75.92%	75.77%	76.44%	77.76%	77.17%
Interest Burden Percent	77.64%	77.09%	88.44%	88.69%	85.36%	81.42%	85.74%	85.52%	84.16%	83.51%	88.46%
Effective Tax Rate	19.16%	14.57%	23.62%	23.94%	18.64%	27.17%	24.08%	24.23%	23.56%	22.24%	22.83%
Return on Invested Capital (ROIC)	11.85%	11.28%	14.71%	13.50%	15.56%	10.61%	14.56%	13.75%	12.75%	11.81%	14.17%
ROIC Less NNEP Spread (ROIC-NNEP)	10.87%	10.27%	14.07%	12.92%	14.73%	9.88%	13.73%	12.98%	12.00%	11.09%	13.47%
Return on Net Nonoperating Assets (RNNOA)	25.50%	25.05%	27.66%	26.73%	30.47%	20.44%	26.80%	24.43%	22.65%	20.78%	23.85%
Return on Equity (ROE)	37.35%	36.33%	42.37%	40.23%	46.03%	31.04%	41.36%	38.18%	35.41%	32.59%	38.02%
Cash Return on Invested Capital (CROIC)	-22.56%	-21.55%	5.74%	4.83%	9.50%	7.70%	6.82%	5.45%	5.76%	8.18%	9.75%
Operating Return on Assets (OROA)	10.02%	8.79%	12.87%	11.93%	12.77%	9.65%	12.76%	11.99%	11.14%	10.17%	12.22%
Return on Assets (ROA)	6.29%	5.79%	8.69%	8.05%	8.87%	5.72%	8.31%	7.77%	7.16%	6.60%	8.34%
Return on Common Equity (ROCE)	37.35%	36.35%	42.34%	40.20%	46.00%	31.02%	41.31%	38.12%	35.37%	32.55%	38.01%
Return on Equity Simple (ROE_SIMPLE)	30.92%	0.00%	32.79%	33.77%	34.61%	0.00%	33.19%	33.06%	33.24%	0.00%	32.04%
Net Operating Profit after Tax (NOPAT)	819	785	855	767	827	572	775	715	631	595	727
NOPAT Margin	13.61%	13.32%	15.24%	14.21%	16.02%	10.96%	14.91%	13.97%	12.89%	12.05%	14.32%
Net Nonoperating Expense Percent (NNEP)	0.99%	1.01%	0.64%	0.59%	0.83%	0.72%	0.83%	0.77%	0.75%	0.72%	0.70%
Return On Investment Capital (ROIC_SIMPLE)	2.52%	2.44%	-	-	-	2.47%	-	-	-	2.72%	-
Cost of Revenue to Revenue	60.60%	60.29%	60.60%	60.92%	60.86%	60.30%	61.33%	62.24%	63.08%	62.67%	62.19%
SG&A Expenses to Revenue	11.42%	12.68%	9.36%	9.27%	9.52%	9.83%	9.04%	9.12%	9.73%	9.87%	9.32%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.57%	24.11%	19.45%	20.40%	19.44%	24.65%	19.03%	19.32%	20.05%	21.82%	19.25%
Earnings before Interest and Taxes (EBIT)	1,015	908	1,125	1,008	1,018	791	1,017	946	827	770	936
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,671	1,560	1,683	1,551	1,532	1,317	1,536	1,467	1,332	1,315	1,439
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.76	9.81	10.44	11.47	12.12	10.30	8.75	10.05	9.64	9.11	9.25
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.06	3.67	3.90	4.08	4.15	3.48	3.02	3.47	3.29	3.17	3.33
Price to Earnings (P/E)	34.80	29.49	31.55	33.63	34.63	30.87	26.33	30.37	29.01	27.87	28.87
Dividend Yield	1.33%	1.49%	1.42%	1.36%	1.34%	1.59%	1.83%	1.58%	1.65%	1.71%	1.61%
Earnings Yield	2.87%	3.39%	3.17%	2.97%	2.89%	3.24%	3.80%	3.29%	3.45%	3.59%	3.46%
Enterprise Value to Invested Capital (EV/IC)	3.73	3.39	4.27	4.40	4.62	3.97	3.53	3.96	3.81	3.70	3.89
Enterprise Value to Revenue (EV/Rev)	5.03	4.68	4.60	4.82	4.86	4.20	3.73	4.18	3.99	3.86	4.00
Enterprise Value to EBITDA (EV/EBITDA)	17.84	16.32	16.17	17.03	17.18	15.19	13.30	15.07	14.52	14.09	14.61
Enterprise Value to EBIT (EV/EBIT)	28.44	25.43	24.95	26.37	26.65	23.97	21.11	24.05	23.28	22.63	23.43
Enterprise Value to NOPAT (EV/NOPAT)	35.86	32.00	32.56	34.37	34.78	31.88	27.68	31.36	30.31	29.46	30.44
Enterprise Value to Operating Cash Flow (EV/OCF)	22.05	19.15	18.70	19.57	19.93	18.19	17.14	19.43	18.41	16.78	17.37
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	77.38	94.86	49.64	52.82	53.43	75.38	68.58	46.26	40.57
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.76	2.90	2.09	2.25	2.27	2.35	2.22	2.22	2.26	2.18	2.01
Long-Term Debt to Equity	2.65	2.73	2.00	2.21	2.23	2.31	2.17	2.14	2.21	2.12	1.97
Financial Leverage	2.35	2.44	1.97	2.07	2.07	2.07	1.95	1.88	1.89	1.87	1.77
Leverage Ratio	4.91	5.11	4.46	4.56	4.61	4.67	4.42	4.37	4.34	4.32	4.14
Compound Leverage Factor	3.81	3.94	3.95	4.05	3.93	3.80	3.79	3.74	3.65	3.61	3.66
Debt to Total Capital	73.37%	74.33%	67.63%	69.20%	69.46%	70.18%	68.90%	68.93%	69.30%	68.58%	66.73%
Short-Term Debt to Total Capital	2.94%	4.23%	2.75%	1.00%	1.45%	1.44%	1.33%	2.30%	1.52%	1.89%	1.22%
Long-Term Debt to Total Capital	70.44%	70.10%	64.88%	68.20%	68.01%	68.74%	67.57%	66.63%	67.79%	66.69%	65.50%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.01%	-0.03%	-0.02%	-0.02%	-0.03%	0.07%	0.09%	0.06%	0.07%	0.01%
Common Equity to Total Capital	26.63%	25.66%	32.40%	30.82%	30.56%	29.85%	31.03%	30.99%	30.63%	31.35%	33.26%
Debt to EBITDA	3.69	3.78	2.74	2.82	2.75	2.87	2.73	2.77	2.80	2.77	2.64
Net Debt to EBITDA	3.44	3.51	2.48	2.62	2.51	2.61	2.53	2.56	2.57	2.54	2.43
Long-Term Debt to EBITDA	3.54	3.56	2.63	2.78	2.69	2.81	2.68	2.68	2.74	2.70	2.59
Debt to NOPAT	7.41	7.41	5.51	5.69	5.57	6.03	5.68	5.76	5.85	5.80	5.50
Net Debt to NOPAT	6.92	6.89	4.98	5.29	5.07	5.47	5.27	5.32	5.36	5.31	5.07
Long-Term Debt to NOPAT	7.12	6.99	5.29	5.61	5.45	5.90	5.57	5.57	5.73	5.64	5.40
Altman Z-Score	2.63	2.36	3.20	3.28	3.37	2.94	2.79	3.00	2.91	2.79	3.04
Noncontrolling Interest Sharing Ratio	-0.02%	-0.03%	0.06%	0.09%	0.07%	0.06%	0.13%	0.15%	0.11%	0.12%	0.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.83	0.76	0.89	1.07	0.89	0.90	0.84	0.82	0.87	0.81	0.85
Quick Ratio	0.71	0.66	0.78	0.76	0.76	0.79	0.73	0.70	0.74	0.71	0.73
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-8,334	-8,057	-895	-1,109	-38	-496	-534	-843	-834	-343	89
Operating Cash Flow to CapEx	145.37%	135.52%	173.88%	173.01%	204.64%	132.63%	187.67%	198.08%	158.18%	121.69%	156.14%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.59	0.57	0.64	0.64	0.65	0.64	0.65	0.65	0.66	0.65	0.66
Accounts Receivable Turnover	7.31	6.73	7.08	7.20	7.82	7.27	7.20	7.27	7.84	7.44	7.27
Inventory Turnover	68.26	70.62	72.29	72.32	70.53	74.81	75.17	76.12	78.23	82.23	83.55
Fixed Asset Turnover	1.25	1.22	1.25	1.26	1.26	1.25	1.30	1.32	1.33	1.31	1.35
Accounts Payable Turnover	7.90	7.13	7.23	7.48	8.10	7.26	7.78	8.33	8.62	7.83	8.23
Days Sales Outstanding (DSO)	49.94	54.24	51.56	50.69	46.68	50.23	50.67	50.24	46.58	49.09	50.18
Days Inventory Outstanding (DIO)	5.35	5.17	5.05	5.05	5.18	4.88	4.86	4.80	4.67	4.44	4.37
Days Payable Outstanding (DPO)	46.22	51.21	50.51	48.77	45.08	50.31	46.92	43.84	42.33	46.63	44.36
Cash Conversion Cycle (CCC)	9.07	8.20	6.10	6.97	6.78	4.80	8.61	11.19	8.92	6.90	10.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	30,894	30,481	23,030	23,005	21,741	21,639	21,280	21,129	20,876	20,571	19,971
Invested Capital Turnover	0.87	0.85	0.97	0.95	0.97	0.97	0.98	0.98	0.99	0.98	0.99
Increase / (Decrease) in Invested Capital	9,153	8,842	1,750	1,876	865	1,068	1,309	1,558	1,465	938	638
Enterprise Value (EV)	115,338	103,221	98,364	101,115	100,511	85,853	75,157	83,657	79,589	76,097	77,771
Market Capitalization	93,094	80,992	83,313	85,567	85,852	71,117	60,827	69,437	65,507	62,375	64,810
Book Value per Share	$21.51	$20.56	$19.88	$18.59	$17.66	$17.14	$17.16	$16.98	$16.65	$16.69	$16.96
Tangible Book Value per Share	($22.12)	($23.36)	($6.44)	($6.63)	($7.21)	($7.72)	($7.97)	($8.11)	($8.26)	($8.04)	($7.09)
Total Capital	32,488	32,154	24,625	24,194	23,176	23,125	22,396	22,296	22,178	21,848	21,075
Total Debt	23,837	23,900	16,653	16,743	16,098	16,229	15,430	15,368	15,370	14,984	14,063
Total Long-Term Debt	22,883	22,541	15,977	16,501	15,762	15,895	15,133	14,855	15,034	14,570	13,805
Net Debt	22,243	22,227	15,058	15,554	14,663	14,743	14,314	14,201	14,068	13,707	12,959
Capital Expenditures (CapEx)	831	1,115	781	667	668	1,042	673	520	660	862	757
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-154	-539	-458	373	-406	-546	-509	-402	-406	-780	-449
Debt-free Net Working Capital (DFNWC)	62	-125	156	545	-84	-88	-359	-258	-149	-429	-312
Net Working Capital (NWC)	-892	-1,484	-520	303	-420	-422	-656	-771	-485	-843	-570
Net Nonoperating Expense (NNE)	182	187	95	87	120	103	113	102	99	95	88
Net Nonoperating Obligations (NNO)	22,243	22,227	15,058	15,554	14,663	14,743	14,314	14,201	14,068	13,707	12,959
Total Depreciation and Amortization (D&A)	656	652	558	543	514	526	519	521	505	545	503
Debt-free, Cash-free Net Working Capital to Revenue	-0.67%	-2.44%	-2.14%	1.78%	-1.96%	-2.67%	-2.53%	-2.01%	-2.04%	-3.96%	-2.31%
Debt-free Net Working Capital to Revenue	0.27%	-0.57%	0.73%	2.60%	-0.41%	-0.43%	-1.78%	-1.29%	-0.75%	-2.18%	-1.60%
Net Working Capital to Revenue	-3.89%	-6.73%	-2.43%	1.44%	-2.03%	-2.07%	-3.26%	-3.85%	-2.43%	-4.28%	-2.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.58	$1.49	$1.89	$1.70	$1.76	$1.22	$1.64	$1.52	$1.31	$1.21	$1.55
Adjusted Weighted Average Basic Shares Outstanding	402.41M	402.12M	401.37M	401.31M	401.08M	401.60M	402.78M	405.06M	406.82M	408.15M	410.48M
Adjusted Diluted Earnings per Share	$1.58	$1.49	$1.88	$1.69	$1.75	$1.22	$1.63	$1.51	$1.30	$1.21	$1.54
Adjusted Weighted Average Diluted Shares Outstanding	402.41M	402.12M	401.37M	401.31M	401.08M	401.60M	402.78M	405.06M	406.82M	408.15M	410.48M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	402.41M	402.12M	401.37M	401.31M	401.08M	401.60M	402.78M	405.06M	406.82M	408.15M	410.48M
Normalized Net Operating Profit after Tax (NOPAT)	831	804	861	812	825	752	775	716	631	630	728
Normalized NOPAT Margin	13.81%	13.64%	15.35%	15.02%	15.99%	14.41%	14.91%	13.99%	12.89%	12.76%	14.34%
Pre Tax Income Margin	13.09%	11.88%	17.74%	16.55%	16.84%	12.34%	16.78%	15.80%	14.23%	13.03%	16.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.32%	44.08%	45.49%	46.54%	47.08%	49.91%	48.59%	48.38%	48.32%	48.08%	46.79%
Augmented Payout Ratio	46.77%	53.62%	67.43%	84.03%	96.12%	107.12%	110.53%	118.43%	119.18%	115.04%	109.62%

Frequently Asked Questions About Waste Management's Financials

When does Waste Management's fiscal year end?

According to the most recent income statement we have on file, Waste Management's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Waste Management's net income changed over the last 9 years?

Waste Management's net income appears to be on an upward trend, with a most recent value of $2.75 billion in 2024, rising from $752 million in 2015. The previous period was $2.28 billion in 2023. See Waste Management's forecast for analyst expectations on what’s next for the company.

What is Waste Management's operating income?

Waste Management's total operating income in 2024 was $4.06 billion, based on the following breakdown:

Total Gross Profit: $8.68 billion
Total Operating Expenses: $4.62 billion

How has Waste Management revenue changed over the last 9 years?

Over the last 9 years, Waste Management's total revenue changed from $12.96 billion in 2015 to $22.06 billion in 2024, a change of 70.2%.

How much debt does Waste Management have?

Waste Management's total liabilities were at $36.31 billion at the end of 2024, a 40.1% increase from 2023, and a 142.1% increase since 2015.

How much cash does Waste Management have?

In the past 9 years, Waste Management's cash and equivalents has ranged from $22 million in 2017 to $3.56 billion in 2019, and is currently $414 million as of their latest financial filing in 2024.

How has Waste Management's book value per share changed over the last 9 years?

Over the last 9 years, Waste Management's book value per share changed from 11.97 in 2015 to 20.56 in 2024, a change of 71.7%.

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This page (NYSE:WM) was last updated on 5/21/2025 by MarketBeat.com Staff

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Waste Management (WM) Financials

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Waste Management (WM) Financials

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