W

Waste Management, Inc

WM · CIK 0000823768

19 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$25.20B14.2%
FY2025
Net income (FY)
$2.71B1.4%
FY2025
Free cash flow (FY)
$2.82B30.4%
FY2025
Diluted EPS (FY)
$6.701.6%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$10B$20BFY2007 · Revenue $13.31B · Net income $1.16B · 0000950123-10-013022 · filed 2010-02-16FY07Revenue $13.31BNet income $1.16B0000950123-10-013022 · filed 2010-02-16FY2008 · Revenue $13.39B · Net income $1.09B · 0000950123-11-015242 · filed 2011-02-17FY08Revenue $13.39BNet income $1.09B0000950123-11-015242 · filed 2011-02-17FY2009 · Revenue $11.79B · Net income $994.0M · 0001193125-12-065370 · filed 2012-02-16FY09Revenue $11.79BNet income $994.0M0001193125-12-065370 · filed 2012-02-16FY2010 · Revenue $12.52B · Net income $953.0M · 0001193125-13-058892 · filed 2013-02-14FY10Revenue $12.52BNet income $953.0M0001193125-13-058892 · filed 2013-02-14FY2011 · Revenue $13.38B · Net income $961.0M · 0001193125-14-056656 · filed 2014-02-18FY11Revenue $13.38BNet income $961.0M0001193125-14-056656 · filed 2014-02-18FY2012 · Revenue $13.65B · Net income $817.0M · 0000950123-15-002550 · filed 2015-02-17 · 0001193125-14-056656 · filed 2014-02-18FY12Revenue $13.65BNet income $817.0M0000950123-15-002550 · filed 2015-02-17 · 0001193125-14-056656 · filed 2014-02-18FY2013 · Revenue $13.98B · Net income $98.0M · 0001193125-16-467957 · filed 2016-02-18 · 0001193125-14-056656 · filed 2014-02-18FY13Revenue $13.98BNet income $98.0M0001193125-16-467957 · filed 2016-02-18 · 0001193125-14-056656 · filed 2014-02-18FY2014 · Revenue $14.00B · Net income $1.30B · 0001193125-17-046480 · filed 2017-02-16FY14Revenue $14.00BNet income $1.30B0001193125-17-046480 · filed 2017-02-16FY2015 · Revenue $12.96B · Net income $753.0M · 0001558370-18-000716 · filed 2018-02-15FY15Revenue $12.96BNet income $753.0M0001558370-18-000716 · filed 2018-02-15FY2016 · Revenue $13.61B · Net income $1.18B · 0001558370-19-000662 · filed 2019-02-14FY16Revenue $13.61BNet income $1.18B0001558370-19-000662 · filed 2019-02-14FY2017 · Revenue $14.48B · Net income $1.95B · 0001558370-20-000762 · filed 2020-02-13FY17Revenue $14.48BNet income $1.95B0001558370-20-000762 · filed 2020-02-13FY2018 · Revenue $14.91B · Net income $1.93B · 0001558370-21-001348 · filed 2021-02-22FY18Revenue $14.91BNet income $1.93B0001558370-21-001348 · filed 2021-02-22FY2019 · Revenue $15.46B · Net income $1.67B · 0001558370-22-001179 · filed 2022-02-15FY19Revenue $15.46BNet income $1.67B0001558370-22-001179 · filed 2022-02-15FY2020 · Revenue $15.22B · Net income $1.50B · 0001558370-23-000964 · filed 2023-02-07FY20Revenue $15.22BNet income $1.50B0001558370-23-000964 · filed 2023-02-07FY2021 · Revenue $17.93B · Net income $1.82B · 0001558370-24-001049 · filed 2024-02-13FY21Revenue $17.93BNet income $1.82B0001558370-24-001049 · filed 2024-02-13FY2022 · Revenue $19.70B · Net income $2.24B · 0001558370-25-001132 · filed 2025-02-19FY22Revenue $19.70BNet income $2.24B0001558370-25-001132 · filed 2025-02-19FY2023 · Revenue $20.43B · Net income $2.30B · 0001104659-26-012049 · filed 2026-02-09FY23Revenue $20.43BNet income $2.30B0001104659-26-012049 · filed 2026-02-09FY2024 · Revenue $22.06B · Net income $2.75B · 0001104659-26-012049 · filed 2026-02-09FY24Revenue $22.06BNet income $2.75B0001104659-26-012049 · filed 2026-02-09FY2025 · Revenue $25.20B · Net income $2.71B · 0001104659-26-012049 · filed 2026-02-09FY25Revenue $25.20BNet income $2.71B0001104659-26-012049 · filed 2026-02-09FY25Revenue $25.20BNet income $2.71B0001104659-26-012049 · filed 2026-02-09FY07FY10FY13FY16FY19FY22FY25

revenue 1.9× since FY2007 · net margin 8.7% → 10.7%

MarginsNet marginFCF margin
0%5%10%FY2007 · Net margin 8.7% · FCF margin 9.2%FY07Net margin 8.7%FCF margin 9.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 8.1% · FCF margin 10.1%FY08Net margin 8.1%FCF margin 10.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 8.4% · FCF margin 10.0%FY09Net margin 8.4%FCF margin 10.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 7.6% · FCF margin 9.4%FY10Net margin 7.6%FCF margin 9.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 7.2% · FCF margin 8.6%FY11Net margin 7.2%FCF margin 8.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 6.0% · FCF margin 5.8%FY12Net margin 6.0%FCF margin 5.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 0.7% · FCF margin 8.5%FY13Net margin 0.7%FCF margin 8.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 9.3% · FCF margin 8.2%FY14Net margin 9.3%FCF margin 8.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 5.8% · FCF margin 10.0%FY15Net margin 5.8%FCF margin 10.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 8.7% · FCF margin 12.2%FY16Net margin 8.7%FCF margin 12.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 13.5% · FCF margin 11.1%FY17Net margin 13.5%FCF margin 11.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 12.9% · FCF margin 12.7%FY18Net margin 12.9%FCF margin 12.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 10.8% · FCF margin 13.3%FY19Net margin 10.8%FCF margin 13.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 9.8% · FCF margin 11.9%FY20Net margin 9.8%FCF margin 11.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 10.1% · FCF margin 12.8%FY21Net margin 10.1%FCF margin 12.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 11.4% · FCF margin 8.8%FY22Net margin 11.4%FCF margin 8.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 11.3% · FCF margin 8.9%FY23Net margin 11.3%FCF margin 8.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 12.4% · FCF margin 9.8%FY24Net margin 12.4%FCF margin 9.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 10.7% · FCF margin 11.2%FY25Net margin 10.7%FCF margin 11.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 10.7%FCF margin 11.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 10.7% · free cash flow 11.2% of revenue

Cash engineOperating cash flowFree cash flow
$0$2B$4B$6BFY2007 · OCF $2.44B · FCF $1.23B · 0000950123-10-013022 · filed 2010-02-16FY07OCF $2.44BFCF $1.23B0000950123-10-013022 · filed 2010-02-16FY2008 · OCF $2.58B · FCF $1.35B · 0000950123-11-015242 · filed 2011-02-17FY08OCF $2.58BFCF $1.35B0000950123-11-015242 · filed 2011-02-17FY2009 · OCF $2.36B · FCF $1.18B · 0001193125-12-065370 · filed 2012-02-16FY09OCF $2.36BFCF $1.18B0001193125-12-065370 · filed 2012-02-16FY2010 · OCF $2.27B · FCF $1.17B · 0001193125-13-058892 · filed 2013-02-14FY10OCF $2.27BFCF $1.17B0001193125-13-058892 · filed 2013-02-14FY2011 · OCF $2.47B · FCF $1.15B · 0001193125-14-056656 · filed 2014-02-18FY11OCF $2.47BFCF $1.15B0001193125-14-056656 · filed 2014-02-18FY2012 · OCF $2.29B · FCF $785.0M · 0001193125-14-056656 · filed 2014-02-18FY12OCF $2.29BFCF $785.0M0001193125-14-056656 · filed 2014-02-18FY2013 · OCF $2.46B · FCF $1.19B · 0001193125-14-056656 · filed 2014-02-18FY13OCF $2.46BFCF $1.19B0001193125-14-056656 · filed 2014-02-18FY2014 · OCF $2.33B · FCF $1.15B · 0001193125-17-046480 · filed 2017-02-16FY14OCF $2.33BFCF $1.15B0001193125-17-046480 · filed 2017-02-16FY2015 · OCF $2.53B · FCF $1.30B · 0001558370-18-000716 · filed 2018-02-15FY15OCF $2.53BFCF $1.30B0001558370-18-000716 · filed 2018-02-15FY2016 · OCF $3.00B · FCF $1.66B · 0001558370-19-000662 · filed 2019-02-14FY16OCF $3.00BFCF $1.66B0001558370-19-000662 · filed 2019-02-14FY2017 · OCF $3.18B · FCF $1.61B · 0001558370-20-000762 · filed 2020-02-13FY17OCF $3.18BFCF $1.61B0001558370-20-000762 · filed 2020-02-13FY2018 · OCF $3.57B · FCF $1.90B · 0001558370-21-001348 · filed 2021-02-22FY18OCF $3.57BFCF $1.90B0001558370-21-001348 · filed 2021-02-22FY2019 · OCF $3.87B · FCF $2.06B · 0001558370-22-001179 · filed 2022-02-15FY19OCF $3.87BFCF $2.06B0001558370-22-001179 · filed 2022-02-15FY2020 · OCF $3.40B · FCF $1.82B · 0001558370-23-000964 · filed 2023-02-07FY20OCF $3.40BFCF $1.82B0001558370-23-000964 · filed 2023-02-07FY2021 · OCF $4.34B · FCF $2.30B · 0001558370-24-001049 · filed 2024-02-13FY21OCF $4.34BFCF $2.30B0001558370-24-001049 · filed 2024-02-13FY2022 · OCF $4.54B · FCF $1.73B · 0001558370-25-001132 · filed 2025-02-19FY22OCF $4.54BFCF $1.73B0001558370-25-001132 · filed 2025-02-19FY2023 · OCF $4.72B · FCF $1.82B · 0001104659-26-012049 · filed 2026-02-09FY23OCF $4.72BFCF $1.82B0001104659-26-012049 · filed 2026-02-09FY2024 · OCF $5.39B · FCF $2.16B · 0001104659-26-012049 · filed 2026-02-09FY24OCF $5.39BFCF $2.16B0001104659-26-012049 · filed 2026-02-09FY2025 · OCF $6.04B · FCF $2.82B · 0001104659-26-012049 · filed 2026-02-09FY25OCF $6.04BFCF $2.82B0001104659-26-012049 · filed 2026-02-09FY25OCF $6.04BFCF $2.82B0001104659-26-012049 · filed 2026-02-09’09’13’17’21’25

FY2025: $6.04B operating cash − $3.23B capex = $2.82B free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%30%FY2008 · ROE 18.4% · ROA 5.4%FY08ROE 18.4%ROA 5.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 15.8% · ROA 4.7%FY09ROE 15.8%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 15.2% · ROA 4.4%FY10ROE 15.2%ROA 4.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 15.8% · ROA 4.3%FY11ROE 15.8%ROA 4.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 12.9% · ROA 3.5%FY12ROE 12.9%ROA 3.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 1.7% · ROA 0.4%FY13ROE 1.7%ROA 0.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 22.1% · ROA 6.1%FY14ROE 22.1%ROA 6.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 14.1% · ROA 3.7%FY15ROE 14.1%ROA 3.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 22.3% · ROA 5.7%FY16ROE 22.3%ROA 5.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 32.4% · ROA 8.9%FY17ROE 32.4%ROA 8.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 30.7% · ROA 8.5%FY18ROE 30.7%ROA 8.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 23.6% · ROA 6.0%FY19ROE 23.6%ROA 6.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 20.1% · ROA 5.1%FY20ROE 20.1%ROA 5.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 25.5% · ROA 6.2%FY21ROE 25.5%ROA 6.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 32.7% · ROA 7.1%FY22ROE 32.7%ROA 7.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 33.4% · ROA 7.0%FY23ROE 33.4%ROA 7.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 33.3% · ROA 6.2%FY24ROE 33.3%ROA 6.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 27.1% · ROA 5.9%FY25ROE 27.1%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 27.1%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 18% (FY2008) → 27% (FY2025) · on assets 5.9%

Balance sheetLiabilitiesEquity
$0$20B$40BFY2008 · Liabilities $14.04B · Equity $5.90BFY08Liabilities $14.04BEquity $5.90B0000950123-10-013022 · filed 2010-02-16FY2009 · Liabilities $14.56B · Equity $6.29BFY09Liabilities $14.56BEquity $6.29B0000950123-11-015242 · filed 2011-02-17FY2010 · Liabilities $14.88B · Equity $6.26BFY10Liabilities $14.88BEquity $6.26B0001193125-12-065370 · filed 2012-02-16FY2011 · Liabilities $16.18B · Equity $6.07BFY11Liabilities $16.18BEquity $6.07B0001193125-13-058892 · filed 2013-02-14FY2012 · Liabilities $16.42B · Equity $6.35BFY12Liabilities $16.42BEquity $6.35B0001193125-14-056656 · filed 2014-02-18FY2013 · Liabilities $16.60B · Equity $5.71BFY13Liabilities $16.60BEquity $5.71B0000950123-15-002550 · filed 2015-02-17FY2014 · Liabilities $15.41B · Equity $5.87BFY14Liabilities $15.41BEquity $5.87B0001193125-16-467957 · filed 2016-02-18FY2015 · Liabilities $15.00B · Equity $5.34BFY15Liabilities $15.00BEquity $5.34B0001193125-17-046480 · filed 2017-02-16FY2016 · Liabilities $15.54B · Equity $5.30BFY16Liabilities $15.54BEquity $5.30B0001558370-18-000716 · filed 2018-02-15FY2017 · Liabilities $15.79B · Equity $6.02BFY17Liabilities $15.79BEquity $6.02B0001558370-19-000662 · filed 2019-02-14FY2018 · Liabilities $16.37B · Equity $6.28BFY18Liabilities $16.37BEquity $6.28B0001558370-20-000762 · filed 2020-02-13FY2019 · Liabilities $20.67B · Equity $7.07BFY19Liabilities $20.67BEquity $7.07B0001558370-21-001348 · filed 2021-02-22FY2020 · Liabilities $21.89B · Equity $7.45BFY20Liabilities $21.89BEquity $7.45B0001558370-22-001179 · filed 2022-02-15FY2021 · Liabilities $21.97B · Equity $7.12BFY21Liabilities $21.97BEquity $7.12B0001558370-23-000964 · filed 2023-02-07FY2022 · Liabilities $24.50B · Equity $6.85BFY22Liabilities $24.50BEquity $6.85B0001558370-24-001049 · filed 2024-02-13FY2023 · Liabilities $25.93B · Equity $6.90BFY23Liabilities $25.93BEquity $6.90B0001558370-25-001132 · filed 2025-02-19FY2024 · Liabilities $36.31B · Equity $8.25BFY24Liabilities $36.31BEquity $8.25B0001104659-26-012049 · filed 2026-02-09FY2025 · Liabilities $35.84B · Equity $9.99BFY25Liabilities $35.84BEquity $9.99B0001104659-26-012049 · filed 2026-02-09FY25Liabilities $35.84BEquity $9.99B0001104659-26-012049 · filed 2026-02-09’09’13’17’21’25

FY2025: $45.84B assets · $35.84B liabilities · $9.99B equity

The receipts