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Waste Management Inc. WM

19 fiscal years on record · USD · FY2025 reported · SEC filings only
18 YEARS OF DIVIDEND GROWTH
$25.2B
▲ 14.2% YoY
$2.7B
▼ 1.4% YoY
$2.8B
▲ 30.4% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company manages and reduces waste at each stage from collection to disposal, recovering resources and producing renewable energy in the process. It also owned or operated 342 transfer stations in the U.S. and Canada as of that date. During 2025, the company's largest customer accounted for less than 5% of its annual revenues. Its senior management evaluates the financial performance of the business through five reportable segments: Collection and Disposal - East Tier, Collection and Disposal - West Tier, Recycling Processing and Sales, Renewable Energy, and Healthcare Solutions. Through its Renewable Energy segment, the company develops, operates and owns landfill gas-to-energy facilities in the U.S. and Canada that produce renewable electricity and renewable natural gas. Following its 2024 acquisition of Stericycle, Inc., its Healthcare Solutions segment provides regulated waste and compliance services and secure information destruction services in the U.S., Canada and Western Europe. WMI was incorporated in Oklahoma in 1987 under the name "USA Waste Services, Inc." and was reincorporated as a Delaware company in 1995.

Written from the business description in WASTE MANAGEMENT INC's annual report to the U.S. Securities and Exchange Commission, filed 9 February 2026. Every sentence was checked against that document before publication.

Growth

USD 25.2B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 25.2 · Net income 2.7
10B20B
2007201020132016201920222025
Compound annual growth
+8.6%
+10.6%
+6.9%
+4.8%
+6.6%
+12.6%
+13.7%
+7.2%
+7.5%
+13.7%
+15.0%
+8.5%
+8.3%
+8.6%
+7.9%
+6.6%
−19.2%
+1.1%
+0.9%
+1.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.6% a year over the five years to FY2025 — but profit grew faster: net income at +12.6%, earnings per share at +13.7%.

The share count fell from 0.42B to 0.40B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

11 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 17.1% · Net 10.7%
5%10%15%
200720162025
ROE
FY2025 · ROE 29.7%
10%20%30%
200720162025
Three returns, three denominators.

Each USD of equity produced 30 cents of profit this year.

Cash & shareholders

USD 1.3B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 2.8
1B2B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 1.3 · Net buybacks ·
1B2BDividendsNet buybacks
2007201020132016201920222025

USD 1.3B in dividends — 49% of the year's profit went back to shareholders.

Total assetsUSD 45.8B
EquityUSD 10.0B
CashUSD 201.0M
Gross debtUSD 22.9B
Net debtUSD 22.7B
Current ratio0.89×

Net debt stands at 227% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
WM, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B25.222.120.419.717.915.215.514.914.513.613.014.014.013.613.412.511.813.413.3
Operating income $B4.34.13.63.43.02.42.72.82.62.32.02.31.11.92.02.11.92.22.3
EBITDA $B7.26.35.65.45.04.14.34.34.03.63.33.62.43.13.33.33.13.5◌
Income tax $B0.70.70.70.70.50.40.40.50.20.60.30.40.40.40.50.60.40.70.5
Net income $B2.72.72.32.21.81.51.71.91.91.20.81.30.10.91.01.01.01.11.2
Free cash flow $B2.82.21.81.92.41.82.11.91.61.71.31.11.20.81.11.21.21.41.2
EPS, diluted $6.706.815.665.394.293.523.914.454.412.651.652.790.211.762.041.982.012.192.23
Dividend / sh $3.303.002.802.602.302.182.051.861.701.641.541.501.461.421.361.261.161.080.96
Payout %494449485362524238619253697816663574943
ROE %29.736.233.532.024.920.625.031.334.422.213.422.41.613.215.615.216.318.119.1
Shares out B0.400.400.400.410.420.420.420.420.430.440.450.460.460.460.460.470.490.49◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 73 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2008. Two checks were skipped: cost of revenue is not tagged before 2009. One check was skipped: the share count is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityRefuse Systems
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

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