Waste Management (WM) | Financial Analysis & Statements
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Mar 2025Income Metrics
Revenue
6.0B
Gross Profit
2.4B
39.40%
Operating Income
1.0B
17.08%
Net Income
637.0M
10.58%
EPS (Diluted)
$1.58
Balance Sheet Metrics
Total Assets
44.5B
Total Liabilities
35.8B
Shareholders Equity
8.7B
Debt to Equity
4.14
Cash Flow Metrics
Operating Cash Flow
1.5B
Free Cash Flow
377.0M
Revenue & Profitability Trend
Waste Management Income Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenue | 22.1B | 20.4B | 19.7B | 17.9B | 15.2B |
| Cost of Goods Sold | 13.4B | 12.6B | 12.3B | 11.1B | 9.3B |
| Gross Profit | 8.7B | 7.8B | 7.4B | 6.8B | 5.9B |
| Gross Margin % | 39.3% | 38.3% | 37.6% | 38.0% | 38.6% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 2.2B | 1.9B | 1.9B | 1.8B | 1.7B |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 2.2B | 1.9B | 1.9B | 1.8B | 1.7B |
| Operating Income | 4.1B | 3.8B | 3.4B | 3.0B | 2.5B |
| Operating Margin % | 18.8% | 18.7% | 17.4% | 16.5% | 16.3% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | 598.0M | 500.0M | 378.0M | 365.0M | 425.0M |
| Other Non-Operating Income | -93.0M | -302.0M | -132.0M | -243.0M | -160.0M |
| Pre-tax Income | 3.5B | 3.0B | 2.9B | 2.3B | 1.9B |
| Income Tax | 713.0M | 745.0M | 678.0M | 532.0M | 397.0M |
| Effective Tax Rate % | 20.6% | 24.7% | 23.2% | 22.6% | 21.0% |
| Net Income | 2.7B | 2.3B | 2.2B | 1.8B | 1.5B |
| Net Margin % | 12.4% | 11.1% | 11.4% | 10.1% | 9.8% |
| Key Metrics | |||||
| EBITDA | 6.4B | 5.8B | 5.4B | 4.9B | 4.1B |
| EPS (Basic) | $6.84 | $5.69 | $5.42 | $4.32 | $3.54 |
| EPS (Diluted) | $6.81 | $5.66 | $5.39 | $4.29 | $3.52 |
| Basic Shares Outstanding | 401500000 | 404900000 | 412800000 | 420400000 | 423000000 |
| Diluted Shares Outstanding | 401500000 | 404900000 | 412800000 | 420400000 | 423000000 |
Income Statement Trend
Waste Management Balance Sheet From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 414.0M | 458.0M | 351.0M | 118.0M | 553.0M |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 3.3B | 2.6B | 2.5B | 2.3B | 2.1B |
| Inventory | 206.0M | 173.0M | 164.0M | 135.0M | 124.0M |
| Other Current Assets | 467.0M | 303.0M | 284.0M | 270.0M | 239.0M |
| Total Current Assets | 4.8B | 3.8B | 3.6B | 3.1B | 3.5B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 3.4B | 3.1B | 3.0B | 2.8B | 2.7B |
| Goodwill | 31.1B | 19.3B | 19.5B | 19.0B | 19.0B |
| Intangible Assets | 4.2B | 759.0M | 827.0M | 898.0M | 1.0B |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 2.0B | 1.4B | 1.4B | 1.3B | 1.2B |
| Total Non-Current Assets | 39.8B | 29.0B | 27.8B | 26.0B | 25.8B |
| Total Assets | 44.6B | 32.8B | 31.4B | 29.1B | 29.3B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 2.0B | 1.7B | 1.8B | 1.4B | 1.1B |
| Short-term Debt | 1.4B | 334.0M | 414.0M | 708.0M | 551.0M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 6.3B | 4.2B | 4.4B | 4.1B | 3.6B |
| Non-Current Liabilities | |||||
| Long-term Debt | 22.5B | 15.9B | 14.6B | 12.7B | 13.3B |
| Deferred Tax Liabilities | 2.8B | 1.8B | 1.7B | 1.7B | 1.8B |
| Other Non-Current Liabilities | 1.7B | 1.1B | 1.1B | 1.1B | 1.1B |
| Total Non-Current Liabilities | 30.1B | 21.7B | 20.1B | 17.9B | 18.3B |
| Total Liabilities | 36.3B | 25.9B | 24.5B | 22.0B | 21.9B |
| Equity | |||||
| Common Stock | 6.0M | 6.0M | 6.0M | 6.0M | 6.0M |
| Retained Earnings | 15.9B | 14.3B | 13.2B | 12.0B | 11.2B |
| Treasury Stock | 13.0B | 12.8B | 11.6B | 10.1B | 8.9B |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 8.3B | 6.9B | 6.9B | 7.1B | 7.5B |
| Key Metrics | |||||
| Total Debt | 23.9B | 16.2B | 15.0B | 13.4B | 13.8B |
| Working Capital | -1.5B | -422.0M | -843.0M | -1.0B | -13.0M |
Balance Sheet Composition
Waste Management Cash Flow Statement From 2020 to 2024
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 2.7B | 2.3B | 2.2B | 1.8B | 1.5B |
| Depreciation & Amortization | 2.3B | 2.1B | 2.0B | 2.0B | 1.7B |
| Stock-Based Compensation | 118.0M | 93.0M | 84.0M | 108.0M | 94.0M |
| Working Capital Changes | -312.0M | -341.0M | -538.0M | -80.0M | -290.0M |
| Operating Cash Flow | 5.1B | 4.3B | 4.0B | 3.9B | 3.2B |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | -7.3B | -92.0M | -350.0M | 21.0M | -3.2B |
| Investment Purchases | - | - | - | - | - |
| Investment Sales | - | - | - | - | - |
| Investing Cash Flow | -7.4B | -196.0M | -476.0M | 10.0M | -3.2B |
| Financing Activities | |||||
| Share Repurchases | -262.0M | -1.3B | -1.5B | -1.4B | -402.0M |
| Dividends Paid | -1.2B | -1.1B | -1.1B | -970.0M | -927.0M |
| Debt Issuance | 24.6B | 21.3B | 8.7B | 7.9B | 9.4B |
| Debt Repayment | -17.9B | -20.4B | -7.3B | -8.4B | -9.6B |
| Financing Cash Flow | 5.1B | -1.6B | -1.3B | -3.0B | -1.6B |
| Free Cash Flow | 2.2B | 1.8B | 1.9B | 2.4B | 1.8B |
| Net Change in Cash | 2.8B | 2.5B | 2.2B | 922.0M | -1.6B |
Cash Flow Trend
Waste Management Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
33.21
Forward P/E
27.78
Price to Book
9.81
Price to Sales
3.77
PEG Ratio
5.65
Profitability Ratios
Profit Margin
11.36%
Operating Margin
18.46%
Return on Equity
32.69%
Return on Assets
6.97%
Financial Health
Current Ratio
0.86
Debt to Equity
261.03
Beta
0.64
Per Share Data
EPS (TTM)
$6.75
Book Value per Share
$22.85
Revenue per Share
$59.58
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| wm | 90.3B | 33.21 | 9.81 | 32.69% | 11.36% | 261.03 |
| Republic Services | 73.3B | 34.73 | 6.08 | 18.41% | 12.97% | 109.66 |
| Waste Connections | 47.9B | 75.07 | 5.76 | 7.88% | 6.97% | 103.93 |
| GFL Environmental | 18.1B | 1,660.00 | 2.36 | 0.68% | 44.62% | 91.40 |
| Clean Harbors | 13.0B | 34.24 | 4.80 | 14.93% | 6.48% | 119.12 |
| Casella Waste | 6.2B | 516.11 | 4.01 | 0.85% | 0.64% | 79.98 |
Financial data is updated regularly. All figures are in the company's reporting currency.