Gross margin
40.4% Fiscal year 2025
Rank 36 of 100: higher than 36% of 153 peers (All). medium.
Rank 80 of 100: higher than 80% of 22 peers (Sector). strong.
Median Industrials: 35.4%
Share of revenue left after the direct cost of the products sold.
About the company
Waste Management is a waste disposal company from Houston. The company collects waste from households and businesses and operates landfills, recycling facilities and plants that recover gas from landfills. Medical waste was added recently through Stericycle. As of Oct 13, 2026
Fact sheet (from the annual report) Waste management · Houston, USA
Waste Management is a holding company whose subsidiaries collect, transfer, landfill and process waste and recover resources. Besides the regional segments East Tier and West Tier for collection and disposal, there are segments for recycling processing, Renewable Energy and Healthcare Solutions. Commercial customers typically have fixed-term service agreements with fees based, for example, on collection frequency, container type and the type, volume or weight of the waste. From landfill gas, the Renewable Energy segment generates electricity for utilities, among other things, or upgrades it to pipeline-quality natural gas for gas suppliers. Since the acquisition of Stericycle in November 2024, the Healthcare Solutions segment has offered services for regulated medical waste and secure document destruction.
Automatically summarized from SEC annual report (10-K, filed Feb 9, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 15, 2026
Price performance at a glance
Last 30 trading days
- Today −2.2%
- 7 days +1.8%
- 30 days +14.0%
- 1 year +10.3%
Day range (last trading day)
−0.8%Price at 31% of the range+1.7%
52-week range
−17.7%Price at 77% of the range+5.2%
- Distance from the all-time high
- −5.0%
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Pullback in trend · Analysis method
This method currently detects no pattern for WM. The check runs daily after the close.
You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing
What does the pattern show?
What is this? In an intact uptrend (price above the 200-day line, 50-day line rising), the price pulls back to the 50-day line after a rise and closes back above it.
This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice
Fundamental analysis
SEC filing (10-K, 10-Q)Required reports of listed companies to the US Securities and Exchange Commission (SEC): 10-K is the annual report, 10-Q the quarterly report, 20-F the annual report of foreign companies. We show the figures of the first filing.Example: 10-K for the fiscal year ending Sep 27, 2025, filed on Oct 31, 2025.More in the Academy: Lesson revenue, profit and marginWaste Management · Sector Industrials · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 9, 2026.
Quality checks
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
Quality
Profitability, consistency, balance sheet
7 of 8 criteria met
Growth
Revenue and earnings per share
7 of 7 criteria met
Dividend
Level, consistency, coverage
7 of 7 criteria met
Financial strength
Piotroski, debt, liquidity
3 of 6 criteria met
Quality 7 of 8 met
- met: Gross margin above 40% 40.4%
- met: Operating margin above 15% 17.1%
- met: Net margin above 10% 10.7%
- met: Return on equity above 15% 27.1%
- met: Free cash flow margin above 10% 11.2%
- met: Profit in each of the last 5 fiscal years 5 of 5
- met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
- not met: Equity ratio above 30% 21.8%
Operating margin
17.1% Fiscal year 2025
Rank 51 of 100: higher than 51% of 192 peers (All). medium.
Rank 66 of 100: higher than 66% of 28 peers (Sector). medium.
Median Industrials: 10.4%
Operating income divided by revenue: what the core business earns before interest and taxes.
Net margin
10.7% Fiscal year 2025
Rank 40 of 100: higher than 40% of 237 peers (All). medium.
Rank 40 of 100: higher than 40% of 34 peers (Sector). medium.
Median Industrials: 12.9%
Profit after all costs, interest and taxes divided by revenue.
Return on equity
27.1% Fiscal year 2025
Rank 69 of 100: higher than 69% of 218 peers (All). strong.
Rank 52 of 100: higher than 52% of 32 peers (Sector). medium.
Median Industrials: 26.3%
Net income divided by equity at fiscal year end.
Return on assets
5.9% Fiscal year 2025 (total assets at year end)
Rank 50 of 100: higher than 50% of 238 peers (All). medium.
Rank 37 of 100: higher than 37% of 34 peers (Sector). medium.
Median Industrials: 7.5%
Net income divided by total assets at fiscal year end.
Equity ratio
21.8% Fiscal year 2025
Rank 29 of 100: higher than 29% of 239 peers (All). weak.
Rank 34 of 100: higher than 34% of 34 peers (Sector). medium.
Median Industrials: 33.2%
Equity as a share of total assets. Usually low for banks.
Free cash flow margin
11.2% Fiscal year 2025
Rank 44 of 100: higher than 44% of 213 peers (All). medium.
Rank 52 of 100: higher than 52% of 32 peers (Sector). medium.
Median Industrials: 10.5%
Free cash flow divided by revenue.
Free cash flow
2.8B USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
Growth 7 of 7 met
- met: Over 3 years, revenue grew by more than 5% per year +8.6%
- met: Over 5 years, revenue grew by more than 5% per year +10.6%
- met: Over 10 years, revenue grew by more than 5% per year +6.9%
- met: Over 3 years, EPS grew by more than 5% per year +7.5%
- met: Over 5 years, EPS grew by more than 5% per year +13.7%
- met: Revenue rose in at least 4 of the last 5 fiscal years 5 of 5
- met: Revenue rose in the last fiscal year +14.2%
Revenue growth 3 years
+8.6% per year
Rank 49 of 100: higher than 49% of 230 peers (All). medium.
Rank 52 of 100: higher than 52% of 32 peers (Sector). medium.
Median Industrials: +8.5%
Average growth per year over 3 fiscal years.
Revenue growth 5 years
+10.6% per year
Rank 49 of 100: higher than 49% of 217 peers (All). medium.
Rank 65 of 100: higher than 65% of 30 peers (Sector). medium.
Median Industrials: +9.2%
Average growth per year over 5 fiscal years.
Revenue growth 10 years
+6.9% per year
Rank 50 of 100: higher than 50% of 157 peers (All). medium.
Rank 88 of 100: higher than 88% of 21 peers (Sector). strong.
Median Industrials: +4.5%
Average growth per year over 10 fiscal years.
EPS growth 3 years
+7.5% per year
Rank 38 of 100: higher than 38% of 157 peers (All). medium.
Rank 37 of 100: higher than 37% of 23 peers (Sector). medium.
Median Industrials: +10.7%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 5 years
+13.7% per year
Rank 50 of 100: higher than 50% of 146 peers (All). medium.
Rank 50 of 100: higher than 50% of 21 peers (Sector). medium.
Median Industrials: +13.7%
Growth of earnings per share per year, adjusted for stock splits.
EPS growth 10 years
+15.0% per year
Rank 71 of 100: higher than 71% of 140 peers (All). strong.
Rank 79 of 100: higher than 79% of 21 peers (Sector). strong.
Median Industrials: +8.1%
Growth of earnings per share per year, adjusted for stock splits.
Dividend 7 of 7 met
- met: Pays a dividend 3.30 USD
- met: Payout ratio at most 60% of earnings 49%
- met: Dividend paid in each of the last 5 fiscal years 5 of 5
- met: Dividend per share never lowered in the last 5 fiscal years Dividend per share as filed with the SEC, including special dividends; a one-off higher prior year does not count as a cut. never
- met: Dividend per share higher than 5 years ago +8.6%
- met: Free cash flow per share covers the dividend 2.1x
- met: Dividends paid over the last 5 years covered by free cash flow 53% of free cash flow
Payout ratio
49% Fiscal year 2025
Dividend per share divided by earnings per share.
Dividend growth 5 years
+8.6% per year
Rank 50 of 100: higher than 50% of 118 peers (All). medium.
Rank 63 of 100: higher than 63% of 20 peers (Sector). medium.
Median Industrials: +7.7%
Growth of the dividend per share per year.
Free cash flow coverage
2.1x Fiscal year 2025
Free cash flow per share divided by dividend per share. From 1x the dividend is covered.
Financial strength 3 of 6 met
- not met: Piotroski F-Score at least 7 of 9 6 of 9
- not met: Long-term debt no higher than equity 2.22
- not met: Current assets cover current liabilities 0.89
- met: Positive equity 10.0B USD
- met: In 5 years, share count up by at most 5% −4.9%
- met: Free cash flow positive in the last fiscal year 2.8B USD
Piotroski F-Score
6 of 9 Fiscal year 2025
Rank 45 of 100: higher than 45% of 134 peers (All). medium.
Rank 45 of 100: higher than 45% of 20 peers (Sector). medium.
Median Industrials: 6.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
Debt / equity
2.22 at fiscal year end
Rank 10 of 100: lower than 10% of 199 peers (All). weak.
Rank 17 of 100: lower than 17% of 32 peers (Sector). weak.
Median Industrials: 0.62
Long-term financial debt divided by equity.
Liquidity (current ratio)
0.89 at fiscal year end
Rank 16 of 100: higher than 16% of 215 peers (All). weak.
Rank 14 of 100: higher than 14% of 33 peers (Sector). weak.
Median Industrials: 1.22
Current assets divided by current liabilities.
Change in share count
−4.9% in 5 years
Rank 62 of 100: lower than 62% of 199 peers (All). medium.
Rank 47 of 100: lower than 47% of 29 peers (Sector). medium.
Median Industrials: −5.4%
Change in diluted share count. Negative = share buybacks, positive = new shares.
The 9 criteria of the Piotroski F-Score
- met: Profit in the last fiscal year (positive return on assets)
- met: Positive operating cash flow
- not met: Return on assets higher than the prior year
- met: Operating cash flow higher than net income
- met: Long-term debt relative to total assets fell
- met: Liquidity (current assets / current liabilities) rose
- not met: No additional shares (diluted share count did not rise)
- met: Gross margin higher than the prior year
- not met: Revenue relative to total assets higher than the prior year
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
In short
- Light green: Revenue grew over 5 years (+10.6% per year), at least as fast as the sector median.
- Light green: Net income (total) grew over 5 years (+12.6% per year), at least as fast as the sector median; per share +13.7% per year.
- Light yellow: Net margin 10.7%, below the sector median (11.1%).
- Light red: Debt much higher than usual in the sector.
- Light green: Profit in each of the last 10 fiscal years.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
- Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 13.6B USD · Net income 1.2B USD · Net margin 8.7%
- Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 14.5B USD · Net income 1.9B USD · Net margin 13.5%
- Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 14.9B USD · Net income 1.9B USD · Net margin 12.9%
- Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 15.5B USD · Net income 1.7B USD · Net margin 10.8%
- Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 15.2B USD · Net income 1.5B USD · Net margin 9.8%
- Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 17.9B USD · Net income 1.8B USD · Net margin 10.1%
- Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 19.7B USD · Net income 2.2B USD · Net margin 11.4%
- Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 20.4B USD · Net income 2.3B USD · Net margin 11.3%
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 22.1B USD · Net income 2.7B USD · Net margin 12.4%
- Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 25.2B USD · Net income 2.7B USD · Net margin 10.7%
- Quarter Q3/23 (Jul 1, 2023 – Sep 30, 2023): Revenue 5.2B USD · Net income 663.0M USD · Net margin 12.8%
- Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Revenue 5.2B USD · Net income 493.0M USD · Net margin 9.4% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Revenue 5.2B USD · Net income 708.0M USD · Net margin 13.7%
- Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Revenue 5.4B USD · Net income 680.0M USD · Net margin 12.6%
- Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Revenue 5.6B USD · Net income 760.0M USD · Net margin 13.5%
- Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Revenue 5.9B USD · Net income 598.0M USD · Net margin 10.1% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Revenue 6.0B USD · Net income 637.0M USD · Net margin 10.6%
- Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Revenue 6.4B USD · Net income 726.0M USD · Net margin 11.3%
- Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Revenue 6.4B USD · Net income 603.0M USD · Net margin 9.4%
- Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Revenue 6.3B USD · Net income 742.0M USD · Net margin 11.8% · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Revenue 6.2B USD · Net income 723.0M USD · Net margin 11.6%
- Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Revenue 6.7B USD · Net income 785.0M USD · Net margin 11.7%
- Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Earnings per share 2.65 USD
- Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Earnings per share 4.41 USD
- Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Earnings per share 4.45 USD
- Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Earnings per share 3.91 USD
- Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Earnings per share 3.52 USD
- Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Earnings per share 4.29 USD
- Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Earnings per share 5.39 USD
- Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Earnings per share 5.66 USD
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Earnings per share 6.81 USD
- Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Earnings per share 6.70 USD
- Quarter Q3/23 (Jul 1, 2023 – Sep 30, 2023): Earnings per share 1.63 USD
- Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Earnings per share not reported separately for Q4
- Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Earnings per share 1.75 USD
- Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Earnings per share 1.69 USD
- Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Earnings per share 1.88 USD
- Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Earnings per share not reported separately for Q4
- Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Earnings per share 1.58 USD
- Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Earnings per share 1.80 USD
- Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Earnings per share 1.49 USD
- Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Earnings per share not reported separately for Q4
- Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Earnings per share 1.79 USD
- Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Earnings per share 1.95 USD
- Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Dividend per share 1.64 USD · Payout ratio 61.9%
- Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Dividend per share 1.70 USD · Payout ratio 38.5%
- Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Dividend per share 1.86 USD · Payout ratio 41.8%
- Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Dividend per share 2.05 USD · Payout ratio 52.4%
- Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Dividend per share 2.18 USD · Payout ratio 61.9%
- Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Dividend per share 2.30 USD · Payout ratio 53.6%
- Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Dividend per share 2.60 USD · Payout ratio 48.2%
- Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Dividend per share 2.80 USD · Payout ratio 49.5%
- Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Dividend per share 3.00 USD · Payout ratio 44.1%
- Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Dividend per share 3.30 USD · Payout ratio 49.3%
- Quarter Q3/23 (Jul 1, 2023 – Sep 30, 2023): Dividend per share 0.70 USD · Payout ratio 42.9%
- Quarter Q4/23 (Oct 1, 2023 – Dec 31, 2023): Dividend per share 0.70 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/24 (Jan 1, 2024 – Mar 31, 2024): Dividend per share 0.75 USD · Payout ratio 42.9%
- Quarter Q2/24 (Apr 1, 2024 – Jun 30, 2024): Dividend per share 0.75 USD · Payout ratio 44.4%
- Quarter Q3/24 (Jul 1, 2024 – Sep 30, 2024): Dividend per share 0.75 USD · Payout ratio 39.9%
- Quarter Q4/24 (Oct 1, 2024 – Dec 31, 2024): Dividend per share 0.75 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/25 (Jan 1, 2025 – Mar 31, 2025): Dividend per share 0.83 USD · Payout ratio 52.2%
- Quarter Q2/25 (Apr 1, 2025 – Jun 30, 2025): Dividend per share 0.83 USD · Payout ratio 45.8%
- Quarter Q3/25 (Jul 1, 2025 – Sep 30, 2025): Dividend per share 0.83 USD · Payout ratio 55.4%
- Quarter Q4/25 (Oct 1, 2025 – Dec 31, 2025): Dividend per share 0.83 USD · Payout ratio not available · Q4 derived (year minus 9 months), may be distorted by restatements
- Quarter Q1/26 (Jan 1, 2026 – Mar 31, 2026): Dividend per share 0.95 USD · Payout ratio 52.8%
- Quarter Q2/26 (Apr 1, 2026 – Jun 30, 2026): Dividend per share 0.95 USD · Payout ratio 48.5%
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 25.2B USD · Net income 2.7B USD · Net margin 10.7%
Figures over time
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Money flow in fiscal year 2025
Of 100 USD of revenue, 40.4 USD gross profit, 17.1 USD operating income and 10.7 USD net income remained.
Money flow as a table
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 25.2B USD | 100.0% |
| Gross profit | 10.2B USD | 40.4% |
| Cost of revenue | 15.0B USD | 59.6% |
| Operating income | 4.3B USD | 17.1% |
| Operating expenses | 5.9B USD | 23.3% |
| Net income | 2.7B USD | 10.7% |
| Taxes | 717.0M USD | 2.8% |
| Interest & other | 883.0M USD | 3.5% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
Margins
The operating margin rose in 5 years from 16.0% to 17.1%.
Gross marginOperating marginNet margin- Fiscal year 2016: Gross margin 37.6% · Operating margin 16.9% · Net margin 8.7%
- Fiscal year 2017: Gross margin 37.7% · Operating margin 18.2% · Net margin 13.5%
- Fiscal year 2018: Gross margin 38.0% · Operating margin 18.7% · Net margin 12.9%
- Fiscal year 2019: Gross margin 38.6% · Operating margin 17.5% · Net margin 10.8%
- Fiscal year 2020: Gross margin 38.6% · Operating margin 16.0% · Net margin 9.8%
- Fiscal year 2021: Gross margin 38.0% · Operating margin 16.5% · Net margin 10.1%
- Fiscal year 2022: Gross margin 37.6% · Operating margin 17.1% · Net margin 11.4%
- Fiscal year 2023: Gross margin 38.3% · Operating margin 17.5% · Net margin 11.3%
- Fiscal year 2024: Gross margin 39.3% · Operating margin 18.4% · Net margin 12.4%
- Fiscal year 2025: Gross margin 40.4% · Operating margin 17.1% · Net margin 10.7%
Returns
Return on equity rose in 5 years from 20.1% to 27.1%.
Return on equityReturn on assets- Fiscal year 2016: Return on equity 22.3% · Return on assets 5.7%
- Fiscal year 2017: Return on equity 32.4% · Return on assets 8.9%
- Fiscal year 2018: Return on equity 30.7% · Return on assets 8.5%
- Fiscal year 2019: Return on equity 23.6% · Return on assets 6.0%
- Fiscal year 2020: Return on equity 20.1% · Return on assets 5.1%
- Fiscal year 2021: Return on equity 25.5% · Return on assets 6.2%
- Fiscal year 2022: Return on equity 32.7% · Return on assets 7.1%
- Fiscal year 2023: Return on equity 33.4% · Return on assets 7.0%
- Fiscal year 2024: Return on equity 33.3% · Return on assets 6.2%
- Fiscal year 2025: Return on equity 27.1% · Return on assets 5.9%
Equity and long-term debt
The equity ratio fell in 5 years from 25.4% to 21.8%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.- Fiscal year 2016: Equity 5.3B USD · Long-term debt 8.9B USD
- Fiscal year 2017: Equity 6.0B USD · Long-term debt 8.8B USD
- Fiscal year 2018: Equity 6.3B USD · Long-term debt 9.6B USD
- Fiscal year 2019: Equity 7.1B USD · Long-term debt 13.3B USD
- Fiscal year 2020: Equity 7.5B USD · Long-term debt 13.3B USD
- Fiscal year 2021: Equity 7.1B USD · Long-term debt 12.7B USD
- Fiscal year 2022: Equity 6.8B USD · Long-term debt 14.6B USD
- Fiscal year 2023: Equity 6.9B USD · Long-term debt 15.9B USD
- Fiscal year 2024: Equity 8.3B USD · Long-term debt 22.5B USD
- Fiscal year 2025: Equity 10.0B USD · Long-term debt 22.2B USD
Liquidity (current ratio)
The current ratio fell in 5 years from 1.00 to 0.89.
Current ratio- Fiscal year 2016: Current ratio 0.85
- Fiscal year 2017: Current ratio 0.80
- Fiscal year 2018: Current ratio 0.85
- Fiscal year 2019: Current ratio 1.97
- Fiscal year 2020: Current ratio 1.00
- Fiscal year 2021: Current ratio 0.75
- Fiscal year 2022: Current ratio 0.81
- Fiscal year 2023: Current ratio 0.90
- Fiscal year 2024: Current ratio 0.76
- Fiscal year 2025: Current ratio 0.89
Cash flow
Free cash flow rose in 5 years from 1.8B USD to 2.8B USD.
Operating cash flowCapital expenditureFree cash flow in USD- Fiscal year 2016: Operating cash flow 3.0B USD · Capital expenditure 1.3B USD · Free cash flow 1.7B USD
- Fiscal year 2017: Operating cash flow 3.2B USD · Capital expenditure 1.6B USD · Free cash flow 1.6B USD
- Fiscal year 2018: Operating cash flow 3.6B USD · Capital expenditure 1.7B USD · Free cash flow 1.9B USD
- Fiscal year 2019: Operating cash flow 3.9B USD · Capital expenditure 1.8B USD · Free cash flow 2.1B USD
- Fiscal year 2020: Operating cash flow 3.4B USD · Capital expenditure 1.6B USD · Free cash flow 1.8B USD
- Fiscal year 2021: Operating cash flow 4.3B USD · Capital expenditure 2.0B USD · Free cash flow 2.3B USD
- Fiscal year 2022: Operating cash flow 4.5B USD · Capital expenditure 2.8B USD · Free cash flow 1.7B USD
- Fiscal year 2023: Operating cash flow 4.7B USD · Capital expenditure 2.9B USD · Free cash flow 1.8B USD
- Fiscal year 2024: Operating cash flow 5.4B USD · Capital expenditure 3.2B USD · Free cash flow 2.2B USD
- Fiscal year 2025: Operating cash flow 6.0B USD · Capital expenditure 3.2B USD · Free cash flow 2.8B USD
Share count
The share count fell in 5 years by 4.9% (mostly through share repurchases).
Diluted share count- Fiscal year 2016: Diluted share count 446.5M
- Fiscal year 2017: Diluted share count 441.9M
- Fiscal year 2018: Diluted share count 432.2M
- Fiscal year 2019: Diluted share count 427.5M
- Fiscal year 2020: Diluted share count 425.1M
- Fiscal year 2021: Diluted share count 422.9M
- Fiscal year 2022: Diluted share count 415.0M
- Fiscal year 2023: Diluted share count 406.9M
- Fiscal year 2024: Diluted share count 403.4M
- Fiscal year 2025: Diluted share count 404.2M
From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
Dividends and share repurchases
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
- Dividend per share
- 3.30 USD · Fiscal year 2025
- Dividend growth per year
- 3 y +8.3%5 y +8.6%10 y +7.9%
- Years without a cut
- at least 10 as far as the data goes
- Payout ratio
- of earnings 49% of free cash flow 47%
- To shareholders (5 years)
- 10.1B USD 44% through repurchases
- Share count over 5 years
- −4.9% fewer shares – each share is a larger stake
Dividend per share
The dividend per share rose in 5 years from 2.18 USD to 3.30 USD.
Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.- Fiscal year 2016: Dividend per share 1.64 USD
- Fiscal year 2017: Dividend per share 1.70 USD
- Fiscal year 2018: Dividend per share 1.86 USD
- Fiscal year 2019: Dividend per share 2.05 USD
- Fiscal year 2020: Dividend per share 2.18 USD
- Fiscal year 2021: Dividend per share 2.30 USD
- Fiscal year 2022: Dividend per share 2.60 USD
- Fiscal year 2023: Dividend per share 2.80 USD
- Fiscal year 2024: Dividend per share 3.00 USD
- Fiscal year 2025: Dividend per share 3.30 USD
Payout ratios
The payout ratio fell in 5 years from 61.9% to 49.3%.
Payout ratio (earnings)Payout ratio (free cash flow)- Fiscal year 2016: Payout ratio (earnings) 61.9% · Payout ratio (free cash flow) 43.8%
- Fiscal year 2017: Payout ratio (earnings) 38.5% · Payout ratio (free cash flow) 46.5%
- Fiscal year 2018: Payout ratio (earnings) 41.8% · Payout ratio (free cash flow) 42.2%
- Fiscal year 2019: Payout ratio (earnings) 52.4% · Payout ratio (free cash flow) 42.5%
- Fiscal year 2020: Payout ratio (earnings) 61.9% · Payout ratio (free cash flow) 51.0%
- Fiscal year 2021: Payout ratio (earnings) 53.6% · Payout ratio (free cash flow) 42.2%
- Fiscal year 2022: Payout ratio (earnings) 48.2% · Payout ratio (free cash flow) 62.4%
- Fiscal year 2023: Payout ratio (earnings) 49.5% · Payout ratio (free cash flow) 62.3%
- Fiscal year 2024: Payout ratio (earnings) 44.1% · Payout ratio (free cash flow) 56.0%
- Fiscal year 2025: Payout ratio (earnings) 49.3% · Payout ratio (free cash flow) 47.4%
What goes back to shareholders
Over 5 years, 10.1B USD went back to shareholders, 44% of it through share repurchases. That is 94% of the free cash flow of those years.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD- Fiscal year 2016: Dividends paid 726.0M USD · Share repurchases 725.0M USD · New shares issued (including employee plans) not available · Free cash flow 1.7B USD
- Fiscal year 2017: Dividends paid 750.0M USD · Share repurchases 750.0M USD · New shares issued (including employee plans) not available · Free cash flow 1.6B USD
- Fiscal year 2018: Dividends paid 802.0M USD · Share repurchases 1.0B USD · New shares issued (including employee plans) not available · Free cash flow 1.9B USD
- Fiscal year 2019: Dividends paid 876.0M USD · Share repurchases 248.0M USD · New shares issued (including employee plans) not available · Free cash flow 2.1B USD
- Fiscal year 2020: Dividends paid 927.0M USD · Share repurchases 402.0M USD · New shares issued (including employee plans) not available · Free cash flow 1.8B USD
- Fiscal year 2021: Dividends paid 970.0M USD · Share repurchases 1.4B USD · New shares issued (including employee plans) not available · Free cash flow 2.3B USD
- Fiscal year 2022: Dividends paid 1.1B USD · Share repurchases 1.5B USD · New shares issued (including employee plans) not available · Free cash flow 1.7B USD
- Fiscal year 2023: Dividends paid 1.1B USD · Share repurchases 1.3B USD · New shares issued (including employee plans) not available · Free cash flow 1.8B USD
- Fiscal year 2024: Dividends paid 1.2B USD · Share repurchases 262.0M USD · New shares issued (including employee plans) not available · Free cash flow 2.2B USD
- Fiscal year 2025: Dividends paid 1.3B USD · Share repurchases not available · New shares issued (including employee plans) not available · Free cash flow 2.8B USD
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Valuation over time
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Sector comparison
Waste Management next to 8 stocks of the sector Industrials we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| PWR Quanta Services | 28.5B USD | +20.5% | 15.0% | 5.7% | 3.6% | 11.5% | 35.9% | 5.7% | 5/9 |
| ETN Eaton Corporation | 27.4B USD | +9.0% | 37.6% | – | 14.9% | 21.0% | 47.1% | 12.9% | 6/9 |
| WM Waste Management this stock | 25.2B USD | +10.6% | 40.4% | 17.1% | 10.7% | 27.1% | 21.8% | 11.2% | 6/9 |
| MMM 3M | 24.9B USD | −5.0% | 39.9% | 18.6% | 13.0% | 69.1% | 12.5% | 5.6% | 5/9 |
| UNP Union Pacific Corporation | 24.5B USD | +4.6% | – | 40.2% | 29.1% | 38.7% | 26.5% | 22.4% | – |
| JCI Johnson Controls | 23.6B USD | +1.1% | 36.4% | – | 13.9% | 25.5% | 34.1% | 9.0% | 6/9 |
| ADP Automatic Data Processing | 21.9B USD | +7.9% | 46.4% | – | 20.1% | 73.2% | 9.5% | 23.9% | 8/9 |
| PH Parker Hannifin | 21.5B USD | +8.4% | 37.7% | 23.6% | 17.0% | 23.7% | 49.9% | 18.2% | 9/9 |
| TT Trane Technologies | 21.3B USD | +11.4% | – | 18.6% | 13.7% | 34.0% | 40.1% | 13.2% | – |
| Median of the sector 34 symbols | 24.1B USD | +9.2% | 35.4% | 10.4% | 12.9% | 26.3% | 33.2% | 9.7% | 6/9 |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Key figures with traffic lights
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 90 symbols in the Industrials sector on our list (current members of the S&P 500 and other lists).
Revenue growth
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth+10.6% per year, last 5 years
Sector Industrials: median +8.0% (82 symbols)
What does this mean? Revenue: over 5 years it grew by 10.6% per year on average – at least as fast as the median company in the sector (+8.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net income (total)
Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth+12.6% per year, last 5 years
Sector Industrials: median +10.0% (66 symbols)
per share: +13.7% per year (5 years, split-adjusted)
What does this mean? Total net income: over 5 years it grew by 12.6% per year on average – at least as fast as the median company in the sector (+10.0%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
Net margin
Profit marginThe share of revenue that is left as profit after all costs.Example: Profit €60m on €500m revenue → margin 12%.More in the Academy: Lesson revenue, profit and margin10.7% last fiscal year
Sector Industrials: median 11.1% (88 symbols)
What does this mean? Of every 100 USD in revenue, 10.74 USD remained as profit – less than the median company in the sector (11.1%). Five years ago the margin was 9.8%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
Debt / equity
Debt-to-equity ratioFinancial debt (loans, bonds) divided by equity. A high value amplifies good and bad years alike. The key figures bar in the chart only uses long-term financial debt.Example: Financial debt €300m, equity €500m → 0.6.More in the Academy: Lesson debt, dividends and growth2.24 latest balance sheet
Sector Industrials: median 0.58 (77 symbols)
What does this mean? For every 1 USD of equity there is 2.24 USD of financial debt – more than twice as much as the median company in the sector (0.58). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
Payout ratio
Payout ratioThe share of profit that a company pays out as a dividend. Above 100% it pays out more than it earns.Example: Dividend €1, earnings per share €2.50 → payout ratio 40%.More in the Academy: Lesson debt, dividends and growth49% Dividend / earnings per share
Sector Industrials: median 35% (65 symbols)
What does this mean? Of every 1 USD of earnings per share, 0.49 USD went to shareholders as a dividend. The rest stays in the company. Median company in the sector: 35%.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
Profitable years
Profitable yearsHow many of the last fiscal years ended with a profit rather than a loss on the bottom line. The figure shows how consistently a company earns.Example: Profit in 9 of 10 years → one loss year.More in the Academy: Lesson revenue, profit and margin10 of 10 fiscal years with a profit
What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
All figures as a table
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 25.2B | 2.7B | 10.7% | 6.70 | 3.30 | 49% |
| 2024 | Dec 31, 2024 | 22.1B | 2.7B | 12.4% | 6.81 | 3.00 | 44% |
| 2023 | Dec 31, 2023 | 20.4B | 2.3B | 11.3% | 5.66 | 2.80 | 49% |
| 2022 | Dec 31, 2022 | 19.7B | 2.2B | 11.4% | 5.39 | 2.60 | 48% |
| 2021 | Dec 31, 2021 | 17.9B | 1.8B | 10.1% | 4.29 | 2.30 | 54% |
| 2020 | Dec 31, 2020 | 15.2B | 1.5B | 9.8% | 3.52 | 2.18 | 62% |
| 2019 | Dec 31, 2019 | 15.5B | 1.7B | 10.8% | 3.91 | 2.05 | 52% |
| 2018 | Dec 31, 2018 | 14.9B | 1.9B | 12.9% | 4.45 | 1.86 | 42% |
| 2017 | Dec 31, 2017 | 14.5B | 1.9B | 13.5% | 4.41 | 1.70 | 39% |
| 2016 | Dec 31, 2016 | 13.6B | 1.2B | 8.7% | 2.65 | 1.64 | 62% |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 6.7B | 785.0M | 11.7% | 1.95 | 0.95 | 48% |
| Q1/26 | Mar 31, 2026 | 6.2B | 723.0M | 11.6% | 1.79 | 0.95 | 53% |
| Q4/25* | Dec 31, 2025 | 6.3B | 742.0M | 11.8% | – | 0.83 | – |
| Q3/25 | Sep 30, 2025 | 6.4B | 603.0M | 9.4% | 1.49 | 0.83 | 55% |
| Q2/25 | Jun 30, 2025 | 6.4B | 726.0M | 11.3% | 1.80 | 0.83 | 46% |
| Q1/25 | Mar 31, 2025 | 6.0B | 637.0M | 10.6% | 1.58 | 0.83 | 52% |
| Q4/24* | Dec 31, 2024 | 5.9B | 598.0M | 10.1% | – | 0.75 | – |
| Q3/24 | Sep 30, 2024 | 5.6B | 760.0M | 13.5% | 1.88 | 0.75 | 40% |
| Q2/24 | Jun 30, 2024 | 5.4B | 680.0M | 12.6% | 1.69 | 0.75 | 44% |
| Q1/24 | Mar 31, 2024 | 5.2B | 708.0M | 13.7% | 1.75 | 0.75 | 43% |
| Q4/23* | Dec 31, 2023 | 5.2B | 493.0M | 9.4% | – | 0.70 | – |
| Q3/23 | Sep 30, 2023 | 5.2B | 663.0M | 12.8% | 1.63 | 0.70 | 43% |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
Insiders
Insider transactionsExecutives, directors and major shareholders (over 10%) of US companies report their own transactions in their company’s stock to the SEC within two business days (Form 4). Purchases in the market count as more meaningful than sales (often taxes, estate planning).Example: Three executives acquire stock worth a total of 2 million USD within two weeks → “purchases by several insiders”.More in the Academy: Glossary| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $300.2K1 person | −$300.2K |
| 6 months | $00 people | $885.5K2 people | −$885.5K |
| 12 months | $392.8K1 person | $24.2M12 people | −$23.8M |
Latest transactions
- Sep 4, 2026 Carroll John A. Officer Open-market sale 1,365 shares · $300.2K · SEC
- Jun 5, 2026 Carrasco Rafael Officer Open-market sale 2,655 shares · $585.3K · SEC
- Mar 9, 2026 Reed David L. Chief financial officer (CFO) Open-market sale · 10b5-1 plan 75 shares · $18.4K · SEC
- Mar 9, 2026 Morris John J Officer Open-market sale · 10b5-1 plan 4,211 shares · $1.0M · SEC
- Mar 9, 2026 Varkey Johnson Officer Open-market sale · 10b5-1 plan 121 shares · $29.7K · SEC
- Mar 9, 2026 Carroll John A. Officer Open-market sale · 10b5-1 plan 47 shares · $11.5K · SEC
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
Trend score +20
Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200-20
ADX (trend strength)+15
Highs and lows-20
Relative strength+15
Volatility and trend strength
ADX 14 (trend strength)35.1
Rel. strength 60 d+3.1%
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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