Waste Management Inc (WM) Financial Statements
Industry: Refuse Systems
In fiscal 2025, Waste Management reported revenue of $25.20B, up 14.2% from $22.06B the year before. Net income was $2.71B (a 10.7% net margin), or $6.70 per diluted share. Gross margin was 40.4% and operating margin was 17.1%. Operating activities generated $6.04B of cash, leaving $2.82B of free cash flow. At fiscal year end, Waste Management held $45.84B in total assets against $35.84B in total liabilities, including $201.0M of cash and equivalents.
Open the full interactive Waste Management financials → Quarterly statements, key ratios, valuation history and price charts.
Waste Management Key Stats
| Share Price | $211.83 |
|---|---|
| Market Cap | $85.24B |
| P/E Ratio | 31.6 |
| Revenue YoY Growth | +14.2% |
| 52-Week Range | $193.54 – $243.40 |
| Shares Outstanding | 401.5 million (basic, 2026 Q2) |
Waste Management Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $15.22B | $17.93B | $19.70B | $20.43B | $22.06B | $25.20B |
| Cost of Goods Sold | $9.34B | $11.11B | $12.29B | $12.61B | $13.38B | $15.01B |
| Gross Profit | $5.88B | $6.82B | $7.40B | $7.82B | $8.68B | $10.19B |
| Operating Income | $2.43B | $2.96B | $3.37B | $3.58B | $4.06B | $4.31B |
| Pre-Tax Income | $1.89B | $2.35B | $2.92B | $3.02B | $3.46B | $3.43B |
| Income Tax | $397.0M | $532.0M | $678.0M | $745.0M | $713.0M | $717.0M |
| Net Income | $1.50B | $1.82B | $2.24B | $2.30B | $2.75B | $2.71B |
| Diluted EPS | $3.52 | $4.29 | $5.39 | $5.66 | $6.81 | $6.70 |
Waste Management Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $6.44B | $6.31B | $6.23B | $6.68B |
| Net Income | $603.0M | $742.0M | $723.0M | $785.0M |
| Diluted EPS | $1.49 | $1.84 | $1.79 | $1.95 |
Waste Management Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $553.0M | $118.0M | $351.0M | $458.0M | $414.0M | $201.0M |
| Current Assets | $3.54B | $3.07B | $3.55B | $3.80B | $4.77B | $4.91B |
| Total Assets | $29.34B | $29.10B | $31.37B | $32.82B | $44.57B | $45.84B |
| Current Liabilities | $3.55B | $4.08B | $4.39B | $4.23B | $6.26B | $5.52B |
| Total Long-Term Debt | $13.26B | $12.70B | $14.57B | $15.89B | $22.54B | $22.20B |
| Total Liabilities | $21.89B | $21.97B | $24.50B | $25.93B | $36.31B | $35.84B |
| Shareholders' Equity | $7.45B | $7.12B | $6.85B | $6.90B | $8.25B | $9.99B |
Waste Management Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $3.40B | $4.34B | $4.54B | $4.72B | $5.39B | $6.04B |
| Cash From Investing | -$4.85B | -$1.89B | -$3.06B | -$3.09B | -$10.60B | -$3.57B |
| Cash From Financing | -$1.56B | -$2.90B | -$1.22B | -$1.52B | $5.16B | -$2.67B |
| Free Cash Flow | $1.82B | $2.30B | $1.73B | $1.82B | $2.16B | $2.82B |
Figures from Waste Management's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Waste Management financials page for every line item.
Waste Management Company Profile
| Ticker | WM |
|---|---|
| Exchange | NYSE |
| Industry | Refuse Systems |
| Headquarters | Houston, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000823768 |
Frequently Asked Questions
What was Waste Management's revenue in fiscal 2025?
Waste Management (WM) reported revenue of $25.20B for fiscal 2025.
What is Waste Management's annual revenue history?
Waste Management's annual revenue by fiscal year: 2020: $15.22B; 2021: $17.93B; 2022: $19.70B; 2023: $20.43B; 2024: $22.06B; 2025: $25.20B.
What was Waste Management's net income in fiscal 2025?
Waste Management reported net income of $2.71B for fiscal 2025.
What was Waste Management's earnings per share (EPS) in fiscal 2025?
Waste Management's diluted EPS was $6.70 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Waste Management generate in fiscal 2025?
Waste Management generated $2.82B of free cash flow in fiscal 2025.
What was Waste Management's revenue last quarter?
In its most recent reported quarter (2026 Q2), Waste Management reported revenue of $6.68B.
How much debt does Waste Management have?
Waste Management reported $22.20B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Waste Management are outstanding?
Waste Management reported a weighted average of 401.5 million basic shares outstanding in 2026 Q2.
What is Waste Management's market cap?
Based on its latest closing price, Waste Management (WM) has a market capitalization of about $85.24B.
When does Waste Management's fiscal year end?
Waste Management's fiscal year end, as registered with the SEC, is December 31.
Where is Waste Management headquartered?
Waste Management lists its business address in Houston, Texas in its SEC filings.