Waste Management (WM): financials, SEC filings and peers
Waste Management (WM) is an environmental & facilities services company in the Industrials sector of the S&P 500, headquartered in Houston, Texas.
It was founded in 1968 and joined the S&P 500 on August 31, 1998.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Refuse Systems”.
Waste Management at a glance
- Revenue (12 months)
- $26.1B
- Revenue growth
- +5.2%
- Operating margin
- 18.4%
- Net income (12 months)
- $3.1B
- Free cash flow (12 months)
- $3.7B
- Cash
- $247M
- Debt
- $23.4B
- Diluted EPS (12 months)
- $7.62
Twelve months to September 30, 2026, from the 10-Q filed October 28, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Waste Management reported revenue of $26.1 billion, about the same as a year earlier (+5.2%).
Its operating margin was 18.4%, up 2.0 percentage points from a year earlier: for every $100 of sales, about $18 was left as operating profit.
Net income was $3.1 billion (11.8% of revenue), 19.7% higher than a year earlier.
Operating cash flow was $6.6 billion and capital spending $2.8 billion, leaving free cash flow of $3.7 billion (14.3% of revenue).
At the end of the period it held $247 million in cash and $23.4 billion in debt, a net debt position of $23.1 billion.
The diluted share count fell 1.1% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $15.2 billion in fiscal 2020 to $25.2 billion in fiscal 2025, about 10.6% a year.
- Revenue has grown for 5 fiscal years in a row.
- Operating margin has been steady, around 17.1%.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $17.9B | $19.7B | $20.4B | $22.1B | $25.2B |
| Revenue growth | 17.8% | 9.9% | 3.7% | 8.0% | 14.2% |
| Operating margin | 16.5% | 17.1% | 17.5% | 18.4% | 17.1% |
| Net income | $1.8B | $2.2B | $2.3B | $2.7B | $2.7B |
| Free cash flow | $2.3B | $1.7B | $1.8B | $2.2B | $2.8B |
| Diluted EPS | $4.29 | $5.39 | $5.66 | $6.81 | $6.70 |
Fiscal years as reported in Waste Management’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed October 28, 2026 — quarterly report
- 8-K filed October 27, 2026 — Earnings results
- 8-K filed August 26, 2026 — Executive or director change; Regulation FD disclosure
- 10-Q filed July 29, 2026 — quarterly report
- 8-K filed July 28, 2026 — Earnings results
- 8-K filed May 14, 2026 — Shareholder vote results
- 8-K filed May 13, 2026 — Executive or director change
- 10-Q filed April 29, 2026 — quarterly report
Companies like Waste Management
Other S&P 500 companies in Environmental & Facilities Services:
- ROLRollins, Inc.Atlanta, Georgia
- RSGRepublic ServicesPhoenix, Arizona
- VLTOVeraltoWaltham, Massachusetts
More from Industrials
Questions about Waste Management
Is Waste Management's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $26.1 billion, up 5.2% from a year earlier, according to its SEC filings.
Is Waste Management profitable?
Yes. It earned $3.1 billion in net income over the twelve months to September 30, 2026, a net margin of 11.8%.
Does Waste Management have more cash or more debt?
At September 30, 2026 it had $247 million in cash and $23.4 billion in debt, so more debt than cash.
When did Waste Management last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 28, 2026.
Which companies are similar to Waste Management?
In the S&P 500, Waste Management is grouped in Environmental & Facilities Services within the Industrials sector. Rollins, Inc. (ROL), Republic Services (RSG), Veralto (VLTO) are in the same group.
Understand the numbers
Source: Waste Management’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.