Waste Management (WM) Financials

$232.40 +3.02 (+1.32%)

As of 03:59 PM Eastern

Annual Income Statements for Waste Management

This table shows Waste Management's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	753	1,182	1,949	1,925	1,670	1,496	1,816	2,238	2,304	2,746
Consolidated Net Income / (Loss)	752	1,180	1,949	1,923	1,671	1,496	1,817	2,240	2,276	2,745
Net Income / (Loss) Continuing Operations	752	1,180	1,949	1,923	1,671	1,496	1,817	2,240	2,276	2,745
Total Pre-Tax Income	1,060	1,822	2,191	2,376	2,105	1,893	2,349	2,918	3,021	3,458
Total Operating Income	2,045	2,296	2,636	2,789	2,706	2,434	2,965	3,365	3,575	4,063
Total Gross Profit	4,730	5,123	5,464	5,665	5,959	5,877	6,820	7,404	7,820	8,680
Total Revenue	12,961	13,609	14,485	14,914	15,455	15,218	17,931	19,698	20,426	22,063
Operating Revenue	12,961	13,609	14,485	14,914	15,455	15,218	17,931	19,698	20,426	22,063
Total Cost of Revenue	8,231	8,486	9,021	9,249	9,496	9,341	11,111	12,294	12,606	13,383
Operating Cost of Revenue	8,231	8,486	9,021	9,249	9,496	9,341	11,111	12,294	12,606	13,383
Total Operating Expenses	2,685	2,827	2,828	2,876	3,253	3,443	3,855	4,039	4,245	4,617
Selling, General & Admin Expense	1,343	1,410	1,468	1,453	1,631	1,728	1,864	1,938	1,926	2,264
Depreciation Expense	1,245	1,301	1,376	1,477	1,574	1,671	1,999	2,038	2,071	2,267
Impairment Charge	82	112	-16	-58	42	35	-16	62	243	82
Restructuring Charge	15	4.00	0.00	4.00	6.00	9.00	8.00	1.00	5.00	4.00
Total Other Income / (Expense), net	-985	-474	-445	-413	-601	-541	-616	-447	-554	-605
Interest Expense	555	-	6.00	0.00	85	53	220	0.00	0.00	7.00
Interest & Investment Income	-423	-420	-431	-415	-466	-493	-401	-445	-560	-594
Other Income / (Expense), net	-7.00	-54	-8.00	2.00	-50	5.00	5.00	-2.00	6.00	-4.00
Income Tax Expense	308	642	242	453	434	397	532	678	745	713
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.00	-2.00	0.00	-2.00	1.00	0.00	1.00	2.00	-28	-1.00
Basic Earnings per Share	$1.66	$2.66	$4.44	$4.49	$3.93	$3.54	$4.32	$5.42	$5.69	$6.84
Weighted Average Basic Shares Outstanding	445.65M	439.70M	438.80M	429.10M	424.71M	423.15M	414.59M	408.15M	401.60M	402.12M
Diluted Earnings per Share	$1.65	$2.65	$4.41	$4.45	$3.91	$3.52	$4.29	$5.39	$5.66	$6.81
Weighted Average Diluted Shares Outstanding	445.65M	439.70M	438.80M	429.10M	424.71M	423.15M	414.59M	408.15M	401.60M	402.12M
Weighted Average Basic & Diluted Shares Outstanding	445.65M	439.70M	438.80M	429.10M	424.71M	423.15M	414.59M	408.15M	401.60M	402.12M
Cash Dividends to Common per Share	$1.54	$1.64	$1.70	$1.86	$2.05	$2.18	$2.30	$2.60	$2.80	$3.00

This table shows Waste Management's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	639	499	533	615	663	493	708	680	760	598
Consolidated Net Income / (Loss)	639	500	532	613	662	469	707	680	760	598
Net Income / (Loss) Continuing Operations	639	500	532	613	662	469	707	680	760	598
Total Pre-Tax Income	828	643	696	809	872	644	869	894	995	700
Total Operating Income	942	765	825	944	1,021	785	1,016	1,009	1,119	919
Total Gross Profit	1,919	1,842	1,806	1,933	2,010	2,071	2,019	2,111	2,210	2,340
Total Revenue	5,075	4,935	4,892	5,119	5,198	5,217	5,159	5,402	5,609	5,893
Operating Revenue	5,075	4,935	4,892	5,119	5,198	5,217	5,159	5,402	5,609	5,893
Total Cost of Revenue	3,156	3,093	3,086	3,186	3,188	3,146	3,140	3,291	3,399	3,553
Operating Cost of Revenue	3,156	3,093	3,086	3,186	3,188	3,146	3,140	3,291	3,399	3,553
Total Operating Expenses	977	1,077	981	989	989	1,286	1,003	1,102	1,091	1,421
Selling, General & Admin Expense	473	487	476	467	470	513	491	501	525	747
Depreciation Expense	503	545	505	521	519	526	514	543	558	652
Impairment Charge	0.00	45	-3.00	0.00	0.00	246	-2.00	58	6.00	20
Restructuring Charge	1.00	-	3.00	1.00	0.00	1.00	0.00	0.00	2.00	2.00
Total Other Income / (Expense), net	-114	-122	-129	-135	-149	-141	-147	-115	-124	-219
Interest & Investment Income	-108	-127	-131	-137	-145	-147	-149	-114	-130	-201
Other Income / (Expense), net	-6.00	5.00	2.00	2.00	-4.00	6.00	2.00	-1.00	6.00	-11
Income Tax Expense	189	143	164	196	210	175	162	214	235	102
Basic Earnings per Share	$1.55	$1.21	$1.31	$1.52	$1.64	$1.22	$1.76	$1.70	$1.89	$1.49
Weighted Average Basic Shares Outstanding	410.48M	408.15M	406.82M	405.06M	402.78M	401.60M	401.08M	401.31M	401.37M	402.12M
Diluted Earnings per Share	$1.54	$1.21	$1.30	$1.51	$1.63	$1.22	$1.75	$1.69	$1.88	$1.49
Weighted Average Diluted Shares Outstanding	410.48M	408.15M	406.82M	405.06M	402.78M	401.60M	401.08M	401.31M	401.37M	402.12M
Weighted Average Basic & Diluted Shares Outstanding	410.48M	408.15M	406.82M	405.06M	402.78M	401.60M	401.08M	401.31M	401.37M	402.12M

This table details how cash moves in and out of Waste Management's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-1,268	-10	199	-110	3,464	-2,999	-454	251	107	-65
Net Cash From Operating Activities	2,528	3,003	3,180	3,570	3,874	3,403	4,338	4,536	4,719	5,390
Net Cash From Continuing Operating Activities	2,528	3,003	3,180	3,570	3,874	3,403	4,338	4,536	4,719	5,390
Net Income / (Loss) Continuing Operations	752	1,180	1,949	1,923	1,671	1,496	1,817	2,240	2,276	2,745
Consolidated Net Income / (Loss)	752	1,180	1,949	1,923	1,671	1,496	1,817	2,240	2,276	2,745
Depreciation Expense	1,245	1,301	1,376	1,477	1,574	1,671	1,999	2,038	2,071	2,267
Non-Cash Adjustments To Reconcile Net Income	864	357	304	174	449	398	473	354	540	285
Changes in Operating Assets and Liabilities, net	-333	165	-449	-4.00	180	-162	49	-96	-168	93
Net Cash From Investing Activities	-1,608	-1,929	-1,620	-2,169	-2,376	-4,847	-1,894	-3,063	-3,091	-10,601
Net Cash From Continuing Investing Activities	-1,608	-1,929	-1,620	-2,169	-2,376	-4,847	-1,894	-3,063	-3,091	-10,601
Purchase of Property, Plant & Equipment	-1,233	-1,339	-1,509	-1,694	-1,818	-1,632	-1,904	-2,587	-2,895	-3,231
Acquisitions	-554	-608	-198	-460	-521	-4,085	-75	-377	-170	-7,488
Divestitures	145	43	99	208	49	885	96	27	78	158
Other Investing Activities, net	34	-25	-12	-223	-86	-15	-11	-126	-104	-40
Net Cash From Financing Activities	-2,185	-1,084	-1,361	-1,508	1,964	-1,559	-2,900	-1,216	-1,524	5,155
Net Cash From Continuing Financing Activities	-2,185	-1,084	-1,361	-1,508	1,964	-1,559	-2,900	-1,216	-1,524	5,155
Repayment of Debt	-3,289	-2,723	-1,915	-84	-10,183	-9,679	-8,566	-7,332	-20,405	-17,952
Repurchase of Common Equity	-600	-725	-750	-1,004	-248	-402	-1,350	-1,500	-1,302	-262
Payment of Dividends	-695	-726	-750	-802	-876	-927	-970	-1,077	-1,136	-1,210
Issuance of Debt	2,337	3,057	2,006	359	13,237	9,420	7,948	8,688	21,306	24,578
Other Financing Activities, net	62	33	48	23	34	29	38	5.00	13	1.00
Effect of Exchange Rate Changes	-3.00	0.00	-	-3.00	2.00	4.00	2.00	-6.00	3.00	-9.00

This table details how cash moves in and out of Waste Management's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-745	197	-53	-129	-13	302	-127	-179	441	-200
Net Cash From Operating Activities	1,182	1,049	1,044	1,030	1,263	1,382	1,367	1,154	1,358	1,511
Net Cash From Continuing Operating Activities	1,182	1,049	1,035	1,039	1,263	1,382	1,367	1,154	1,358	1,511
Net Income / (Loss) Continuing Operations	639	500	532	613	662	469	707	680	760	598
Consolidated Net Income / (Loss)	639	500	532	613	662	469	707	680	760	598
Depreciation Expense	503	545	505	521	519	526	514	543	558	652
Non-Cash Adjustments To Reconcile Net Income	83	102	56	76	77	331	80	72	54	79
Changes in Operating Assets and Liabilities, net	-43	-98	-58	-171	5.00	56	66	-141	-14	182
Net Cash From Investing Activities	-936	-1,027	-778	-561	-668	-1,084	-755	-1,604	-480	-7,762
Net Cash From Continuing Investing Activities	-936	-1,027	-778	-561	-668	-1,084	-755	-1,604	-480	-7,762
Purchase of Property, Plant & Equipment	-757	-862	-660	-520	-673	-1,042	-668	-667	-781	-1,115
Acquisitions	-197	-170	-34	-84	-21	-31	-11	-232	-539	-6,706
Divestitures	7.00	9.00	11	35	22	10	15	43	41	59
Net Cash From Financing Activities	-984	175	-319	-600	-606	1.00	-737	273	-439	6,058
Net Cash From Continuing Financing Activities	-984	175	-319	-600	-606	1.00	-737	273	-439	6,058
Repayment of Debt	-746	-1,897	-6,549	-4,531	-5,920	-3,405	-4,576	-4,186	-1,877	-7,313
Payment of Dividends	-267	-266	-289	-283	-283	-281	-307	-301	-301	-301
Issuance of Debt	556	2,772	6,885	4,471	5,963	3,987	4,412	4,768	1,734	13,664
Other Financing Activities, net	14	5.00	-16	13	4.00	12	-16	4.00	5.00	8.00
Effect of Exchange Rate Changes	-7.00	-	-	-	-2.00	3.00	-2.00	-2.00	2.00	-7.00

This table presents Waste Management's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	20,367	20,859	21,829	22,650	27,743	29,345	29,097	31,367	32,823	44,567
Total Current Assets	2,345	2,376	2,694	2,645	6,209	3,540	3,069	3,551	3,804	4,774
Cash & Equivalents	39	32	22	61	3,561	553	118	351	458	414
Accounts Receivable	2,094	2,132	2,374	2,275	2,319	2,624	2,546	2,752	2,870	3,687
Inventories, net	92	90	96	102	106	124	135	164	173	206
Other Current Assets	120	122	202	207	223	239	270	284	303	467
Plant, Property, & Equipment, net	10,665	10,950	11,559	11,942	12,893	14,148	14,419	15,719	16,968	19,340
Total Noncurrent Assets	7,357	7,533	7,576	8,063	8,641	11,657	11,609	12,097	12,051	20,453
Long-Term Investments	360	425	518	702	796	773	780	926	1,028	1,259
Goodwill	5,984	6,215	6,247	6,430	6,532	8,994	9,028	9,323	9,254	13,438
Intangible Assets	477	591	547	572	521	1,024	898	827	759	4,188
Other Noncurrent Operating Assets	536	302	264	359	792	866	903	1,021	1,010	1,568
Total Liabilities & Shareholders' Equity	20,367	20,859	21,829	22,650	27,743	29,345	29,097	31,367	32,823	44,567
Total Liabilities	15,000	15,539	15,787	16,374	20,673	21,891	21,971	24,503	25,927	36,313
Total Current Liabilities	2,510	2,794	3,262	3,108	3,144	3,553	4,082	4,394	4,226	6,258
Short-Term Debt	253	417	739	432	218	551	708	414	334	1,359
Accounts Payable	721	799	1,040	1,037	1,065	1,121	1,375	1,766	1,709	2,046
Accrued Expenses	1,064	1,085	980	1,117	1,327	1,342	1,428	1,625	1,605	2,180
Current Deferred Revenue	472	493	503	522	534	539	571	589	578	673
Total Noncurrent Liabilities	12,490	12,745	12,525	13,266	17,529	18,338	17,889	20,109	21,701	30,055
Long-Term Debt	8,676	8,893	8,752	9,594	13,280	13,259	12,697	14,570	15,895	22,541
Asset Retirement Reserve & Litigation Obligation	1,584	1,675	1,770	1,828	1,930	2,222	2,373	2,700	2,888	3,048
Noncurrent Deferred & Payable Income Tax Liabilities	1,391	1,482	1,248	1,291	1,407	1,806	1,694	1,733	1,826	2,815
Other Noncurrent Operating Liabilities	839	695	755	553	912	1,051	1,125	1,106	1,092	1,651
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,367	5,320	6,042	6,276	7,070	7,454	7,126	6,864	6,896	8,254
Total Preferred & Common Equity	5,345	5,297	6,019	6,275	7,068	7,452	7,124	6,849	6,903	8,252
Total Common Equity	5,345	5,297	6,019	6,275	7,068	7,452	7,124	6,849	6,903	8,252
Common Stock	4,833	4,856	4,939	4,999	5,055	5,135	5,175	5,320	5,357	5,502
Retained Earnings	6,939	7,388	8,588	9,797	10,592	11,159	12,004	13,167	14,334	15,858
Treasury Stock	-6,300	-6,867	-7,516	-8,434	-8,571	-8,881	-10,072	-11,569	-12,751	-12,993
Accumulated Other Comprehensive Income / (Loss)	-127	-80	8.00	-87	-8.00	39	17	-69	-37	-115
Noncontrolling Interest	22	23	23	1.00	2.00	2.00	2.00	15	-7.00	2.00

This table presents Waste Management's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	29,841	31,367	31,290	31,614	31,935	32,823	32,666	33,999	34,730	44,567
Total Current Assets	3,264	3,551	3,371	3,480	3,562	3,804	3,529	4,439	4,259	4,774
Cash & Equivalents	137	351	257	144	150	458	322	172	614	414
Accounts Receivable	2,676	2,752	2,608	2,846	2,917	2,870	2,685	2,980	3,125	3,687
Inventories, net	159	164	170	170	175	173	189	183	184	206
Other Current Assets	292	284	336	320	320	303	333	1,104	336	467
Plant, Property, & Equipment, net	14,742	15,719	15,705	15,917	16,229	16,968	17,044	17,420	17,931	19,340
Total Noncurrent Assets	11,835	12,097	12,214	12,217	12,144	12,051	12,093	12,140	12,540	20,453
Long-Term Investments	967	926	1,045	1,023	966	1,028	1,113	1,017	981	1,259
Goodwill	9,092	9,323	9,344	9,399	9,398	9,254	9,246	9,363	9,822	13,438
Intangible Assets	847	827	823	809	779	759	728	753	742	4,188
Other Noncurrent Operating Assets	929	1,021	1,002	986	1,001	1,010	1,006	1,007	995	1,568
Total Liabilities & Shareholders' Equity	29,841	31,367	31,290	31,614	31,935	32,823	32,666	33,999	34,730	44,567
Total Liabilities	22,829	24,503	24,482	24,686	24,969	25,927	25,588	26,548	26,758	36,313
Total Current Liabilities	3,834	4,394	3,856	4,251	4,218	4,226	3,949	4,136	4,779	6,258
Short-Term Debt	258	414	336	513	297	334	336	242	676	1,359
Accounts Payable	1,489	1,766	1,510	1,626	1,738	1,709	1,617	1,785	1,853	2,046
Accrued Expenses	1,496	1,625	1,426	1,544	1,596	1,605	1,410	1,525	1,651	2,180
Current Deferred Revenue	591	589	584	568	587	578	586	584	599	673
Total Noncurrent Liabilities	18,995	20,109	20,626	20,435	20,751	21,701	21,639	22,412	21,979	30,055
Long-Term Debt	13,805	14,570	15,034	14,855	15,133	15,895	15,762	16,501	15,977	22,541
Asset Retirement Reserve & Litigation Obligation	2,436	2,700	2,729	2,734	2,727	2,888	2,912	2,936	2,965	3,048
Noncurrent Deferred & Payable Income Tax Liabilities	1,629	1,733	1,784	1,778	1,811	1,826	1,880	1,826	1,883	2,815
Other Noncurrent Operating Liabilities	1,125	1,106	1,079	1,068	1,080	1,092	1,085	1,149	1,154	1,651
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,012	6,864	6,808	6,928	6,966	6,896	7,078	7,451	7,972	8,254
Total Preferred & Common Equity	7,010	6,849	6,794	6,909	6,950	6,903	7,082	7,457	7,979	8,252
Total Common Equity	7,010	6,849	6,794	6,909	6,950	6,903	7,082	7,457	7,979	8,252
Common Stock	5,305	5,320	5,250	5,347	5,391	5,357	5,358	5,439	5,491	5,502
Retained Earnings	12,933	13,167	13,414	13,744	14,124	14,334	14,738	15,104	15,563	15,858
Treasury Stock	-11,136	-11,569	-11,813	-12,150	-12,507	-12,751	-12,954	-13,013	-12,999	-12,993
Accumulated Other Comprehensive Income / (Loss)	-92	-69	-57	-32	-58	-37	-60	-73	-76	-115
Noncontrolling Interest	2.00	15	14	19	16	-7.00	-4.00	-6.00	-7.00	2.00

This table displays calculated financial ratios and metrics derived from Waste Management's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.40%	5.00%	6.44%	2.96%	3.63%	-1.53%	17.83%	9.85%	3.70%	8.01%
EBITDA Growth	-7.83%	7.92%	13.01%	6.59%	-0.89%	-2.84%	20.90%	8.69%	4.65%	11.93%
EBIT Growth	-10.22%	10.01%	17.22%	6.20%	-4.84%	-8.17%	21.77%	13.23%	6.48%	13.35%
NOPAT Growth	-17.42%	2.49%	57.69%	-3.74%	-4.84%	-10.45%	19.23%	12.63%	4.27%	19.75%
Net Income Growth	-43.80%	56.91%	65.17%	-1.33%	-13.10%	-10.47%	21.46%	23.28%	1.61%	20.61%
EPS Growth	-40.86%	60.61%	66.42%	0.91%	-12.13%	-9.97%	21.88%	25.64%	5.01%	20.32%
Operating Cash Flow Growth	8.45%	18.79%	5.89%	12.26%	8.52%	-12.16%	27.48%	4.56%	4.03%	14.22%
Free Cash Flow Firm Growth	-68.80%	4.14%	25.92%	12.22%	-13.74%	-222.18%	244.08%	-36.69%	-1.20%	-445.57%
Invested Capital Growth	2.12%	1.99%	5.79%	3.64%	4.32%	22.99%	-1.53%	4.78%	5.19%	40.86%
Revenue Q/Q Growth	-1.45%	1.60%	1.34%	1.29%	0.03%	1.47%	3.53%	1.32%	1.40%	3.16%
EBITDA Q/Q Growth	-6.79%	3.81%	2.82%	2.23%	-3.14%	1.01%	2.98%	1.47%	0.04%	3.99%
EBIT Q/Q Growth	-10.26%	5.56%	3.18%	2.38%	-5.75%	0.00%	2.41%	1.30%	0.59%	2.97%
NOPAT Q/Q Growth	-25.93%	4.13%	41.12%	-16.98%	-3.01%	-1.48%	1.89%	1.11%	-0.82%	6.75%
Net Income Q/Q Growth	-30.18%	5.45%	41.23%	-16.21%	-4.79%	-0.60%	3.89%	-0.27%	-1.34%	4.93%
EPS Q/Q Growth	-29.18%	6.43%	42.26%	-15.72%	-4.40%	-0.57%	3.87%	0.37%	0.18%	4.13%
Operating Cash Flow Q/Q Growth	5.11%	6.94%	1.31%	3.48%	2.92%	-7.33%	5.80%	1.30%	7.59%	2.45%
Free Cash Flow Firm Q/Q Growth	-37.37%	26.14%	-6.26%	1.81%	25.54%	-179.43%	359.86%	-14.17%	15.55%	-541.83%
Invested Capital Q/Q Growth	0.56%	-0.80%	4.68%	1.16%	-1.15%	23.98%	1.55%	3.00%	1.69%	32.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.49%	37.64%	37.72%	37.98%	38.56%	38.62%	38.03%	37.59%	38.28%	39.34%
EBITDA Margin	25.33%	26.03%	27.64%	28.62%	27.37%	27.01%	27.71%	27.42%	27.67%	28.67%
Operating Margin	15.78%	16.87%	18.20%	18.70%	17.51%	15.99%	16.54%	17.08%	17.50%	18.42%
EBIT Margin	15.72%	16.47%	18.14%	18.71%	17.19%	16.03%	16.56%	17.07%	17.53%	18.40%
Profit (Net Income) Margin	5.80%	8.67%	13.46%	12.89%	10.81%	9.83%	10.13%	11.37%	11.14%	12.44%
Tax Burden Percent	70.94%	64.76%	88.95%	80.93%	79.38%	79.03%	77.35%	76.76%	75.34%	79.38%
Interest Burden Percent	52.01%	81.27%	83.37%	85.13%	79.25%	77.61%	79.09%	86.77%	84.36%	85.19%
Effective Tax Rate	29.06%	35.24%	11.05%	19.07%	20.62%	20.97%	22.65%	23.24%	24.66%	20.62%
Return on Invested Capital (ROIC)	10.55%	10.59%	16.08%	14.79%	13.53%	10.64%	11.59%	12.85%	12.76%	12.38%
ROIC Less NNEP Spread (ROIC-NNEP)	1.95%	7.06%	11.63%	11.12%	8.35%	6.69%	7.78%	10.23%	9.83%	9.78%
Return on Net Nonoperating Assets (RNNOA)	2.81%	11.49%	18.23%	16.44%	11.51%	9.96%	13.33%	19.17%	20.32%	23.86%
Return on Equity (ROE)	13.36%	22.08%	34.31%	31.22%	25.04%	20.60%	24.92%	32.02%	33.08%	36.24%
Cash Return on Invested Capital (CROIC)	8.45%	8.63%	10.46%	11.21%	9.30%	-9.98%	13.13%	8.18%	7.70%	-21.55%
Operating Return on Assets (OROA)	9.78%	10.88%	12.31%	12.55%	10.54%	8.54%	10.16%	11.12%	11.16%	10.49%
Return on Assets (ROA)	3.61%	5.72%	9.13%	8.65%	6.63%	5.24%	6.22%	7.41%	7.09%	7.09%
Return on Common Equity (ROCE)	13.31%	21.99%	34.17%	31.16%	25.04%	20.59%	24.92%	31.98%	33.06%	36.25%
Return on Equity Simple (ROE_SIMPLE)	14.07%	22.28%	32.38%	30.65%	23.64%	20.08%	25.51%	32.71%	32.97%	33.26%
Net Operating Profit after Tax (NOPAT)	1,451	1,487	2,345	2,257	2,148	1,924	2,293	2,583	2,693	3,225
NOPAT Margin	11.19%	10.93%	16.19%	15.14%	13.90%	12.64%	12.79%	13.11%	13.19%	14.62%
Net Nonoperating Expense Percent (NNEP)	8.60%	3.53%	4.45%	3.67%	5.18%	3.95%	3.81%	2.62%	2.93%	2.60%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	11.82%	11.65%	10.03%
Cost of Revenue to Revenue	63.51%	62.36%	62.28%	62.02%	61.44%	61.38%	61.97%	62.41%	61.72%	60.66%
SG&A Expenses to Revenue	10.36%	10.36%	10.13%	9.74%	10.55%	11.36%	10.40%	9.84%	9.43%	10.26%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.72%	20.77%	19.52%	19.28%	21.05%	22.62%	21.50%	20.50%	20.78%	20.93%
Earnings before Interest and Taxes (EBIT)	2,038	2,242	2,628	2,791	2,656	2,439	2,970	3,363	3,581	4,059
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,283	3,543	4,004	4,268	4,230	4,110	4,969	5,401	5,652	6,326
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.81	5.19	5.59	5.54	6.39	6.36	9.48	9.11	10.30	9.81
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	3,009.31	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.57	2.02	2.32	2.33	2.92	3.12	3.77	3.17	3.48	3.67
Price to Earnings (P/E)	27.05	23.27	17.25	18.07	27.03	31.70	37.18	27.87	30.87	29.49
Dividend Yield	3.38%	2.64%	2.20%	2.28%	1.93%	1.94%	1.43%	1.71%	1.59%	1.49%
Earnings Yield	3.70%	4.30%	5.80%	5.54%	3.70%	3.15%	2.69%	3.59%	3.24%	3.39%
Enterprise Value to Invested Capital (EV/IC)	2.08	2.57	2.84	2.83	3.35	3.00	4.08	3.70	3.97	3.39
Enterprise Value to Revenue (EV/Rev)	2.23	2.67	2.94	2.95	3.51	3.94	4.46	3.86	4.20	4.68
Enterprise Value to EBITDA (EV/EBITDA)	8.81	10.27	10.64	10.32	12.83	14.58	16.10	14.09	15.19	16.32
Enterprise Value to EBIT (EV/EBIT)	14.19	16.23	16.21	15.78	20.44	24.56	26.94	22.63	23.97	25.43
Enterprise Value to NOPAT (EV/NOPAT)	19.94	24.46	18.17	19.51	25.27	31.14	34.89	29.46	31.88	32.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.44	12.11	13.40	12.34	14.01	17.60	18.45	16.78	18.19	19.15
Enterprise Value to Free Cash Flow (EV/FCFF)	24.87	30.04	27.94	25.74	36.77	0.00	30.80	46.26	52.82	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.66	1.75	1.57	1.60	1.91	1.85	1.88	2.18	2.35	2.90
Long-Term Debt to Equity	1.62	1.67	1.45	1.53	1.88	1.78	1.78	2.12	2.31	2.73
Financial Leverage	1.44	1.63	1.57	1.48	1.38	1.49	1.71	1.87	2.07	2.44
Leverage Ratio	3.70	3.86	3.76	3.61	3.78	3.93	4.01	4.32	4.67	5.11
Compound Leverage Factor	1.93	3.13	3.13	3.07	2.99	3.05	3.17	3.75	3.94	4.35
Debt to Total Capital	62.46%	63.64%	61.10%	61.50%	65.63%	64.95%	65.29%	68.58%	70.18%	74.33%
Short-Term Debt to Total Capital	1.77%	2.85%	4.76%	2.65%	1.06%	2.59%	3.45%	1.89%	1.44%	4.23%
Long-Term Debt to Total Capital	60.69%	60.79%	56.34%	58.85%	64.57%	62.35%	61.84%	66.69%	68.74%	70.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.15%	0.16%	0.15%	0.01%	0.01%	0.01%	0.01%	0.07%	-0.03%	0.01%
Common Equity to Total Capital	37.39%	36.21%	38.75%	38.49%	34.36%	35.05%	34.70%	31.35%	29.85%	25.66%
Debt to EBITDA	2.72	2.63	2.37	2.35	3.19	3.36	2.70	2.77	2.87	3.78
Net Debt to EBITDA	2.60	2.50	2.24	2.17	2.16	3.04	2.52	2.54	2.61	3.51
Long-Term Debt to EBITDA	2.64	2.51	2.19	2.25	3.14	3.23	2.56	2.70	2.81	3.56
Debt to NOPAT	6.15	6.26	4.05	4.44	6.28	7.18	5.84	5.80	6.03	7.41
Net Debt to NOPAT	5.88	5.95	3.82	4.10	4.26	6.49	5.45	5.31	5.47	6.89
Long-Term Debt to NOPAT	5.98	5.98	3.73	4.25	6.18	6.89	5.54	5.64	5.90	6.99
Altman Z-Score	2.25	2.54	2.86	2.92	2.85	2.62	3.33	3.06	3.22	2.59
Noncontrolling Interest Sharing Ratio	0.40%	0.42%	0.40%	0.19%	0.02%	0.03%	0.03%	0.12%	0.06%	-0.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.93	0.85	0.83	0.85	1.97	1.00	0.75	0.81	0.90	0.76
Quick Ratio	0.85	0.77	0.73	0.75	1.87	0.89	0.65	0.71	0.79	0.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,163	1,211	1,525	1,711	1,476	-1,803	2,598	1,645	1,625	-5,617
Operating Cash Flow to CapEx	205.03%	224.27%	210.74%	210.74%	213.09%	208.52%	227.84%	175.34%	163.01%	166.82%
Free Cash Flow to Firm to Interest Expense	2.10	0.00	254.14	0.00	17.37	-34.03	11.81	0.00	0.00	-802.39
Operating Cash Flow to Interest Expense	4.56	0.00	530.00	0.00	45.58	64.21	19.72	0.00	0.00	770.00
Operating Cash Flow Less CapEx to Interest Expense	2.33	0.00	278.50	0.00	24.19	33.42	11.06	0.00	0.00	308.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.62	0.66	0.68	0.67	0.61	0.53	0.61	0.65	0.64	0.57
Accounts Receivable Turnover	6.43	6.44	6.43	6.42	6.73	6.16	6.94	7.44	7.27	6.73
Inventory Turnover	83.14	93.25	97.00	93.42	91.31	81.23	85.80	82.23	74.81	70.62
Fixed Asset Turnover	1.22	1.26	1.29	1.27	1.24	1.13	1.26	1.31	1.25	1.22
Accounts Payable Turnover	11.27	11.17	9.81	8.91	9.04	8.55	8.90	7.83	7.26	7.13
Days Sales Outstanding (DSO)	56.76	56.67	56.77	56.89	54.25	59.28	52.62	49.09	50.23	54.24
Days Inventory Outstanding (DIO)	4.39	3.91	3.76	3.91	4.00	4.49	4.25	4.44	4.88	5.17
Days Payable Outstanding (DPO)	32.39	32.69	37.20	40.98	40.40	42.71	41.00	46.63	50.31	51.21
Cash Conversion Cycle (CCC)	28.76	27.90	23.33	19.81	17.85	21.06	15.88	6.90	4.80	8.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,897	14,173	14,993	15,539	16,211	19,938	19,633	20,571	21,639	30,481
Invested Capital Turnover	0.94	0.97	0.99	0.98	0.97	0.84	0.91	0.98	0.97	0.85
Increase / (Decrease) in Invested Capital	288	276	820	546	672	3,727	-305	938	1,068	8,842
Enterprise Value (EV)	28,922	36,379	42,602	44,039	54,283	59,908	80,020	76,097	85,853	103,221
Market Capitalization	20,370	27,503	33,628	34,775	45,140	47,422	67,511	62,375	71,117	80,992
Book Value per Share	$11.97	$11.98	$13.86	$14.72	$16.66	$17.63	$17.03	$16.69	$17.14	$20.56
Tangible Book Value per Share	($2.50)	($3.41)	($1.78)	($1.71)	$0.04	($6.07)	($6.70)	($8.04)	($7.72)	($23.36)
Total Capital	14,296	14,630	15,533	16,302	20,568	21,264	20,531	21,848	23,125	32,154
Total Debt	8,929	9,310	9,491	10,026	13,498	13,810	13,405	14,984	16,229	23,900
Total Long-Term Debt	8,676	8,893	8,752	9,594	13,280	13,259	12,697	14,570	15,895	22,541
Net Debt	8,530	8,853	8,951	9,263	9,141	12,484	12,507	13,707	14,743	22,227
Capital Expenditures (CapEx)	1,233	1,339	1,509	1,694	1,818	1,632	1,904	2,587	2,895	3,231
Debt-free, Cash-free Net Working Capital (DFCFNWC)	49	-33	149	-92	-278	-15	-423	-780	-546	-539
Debt-free Net Working Capital (DFNWC)	88	-1.00	171	-31	3,283	538	-305	-429	-88	-125
Net Working Capital (NWC)	-165	-418	-568	-463	3,065	-13	-1,013	-843	-422	-1,484
Net Nonoperating Expense (NNE)	699	307	396	334	477	428	476	343	417	480
Net Nonoperating Obligations (NNO)	8,530	8,853	8,951	9,263	9,141	12,484	12,507	13,707	14,743	22,227
Total Depreciation and Amortization (D&A)	1,245	1,301	1,376	1,477	1,574	1,671	1,999	2,038	2,071	2,267
Debt-free, Cash-free Net Working Capital to Revenue	0.38%	-0.24%	1.03%	-0.62%	-1.80%	-0.10%	-2.36%	-3.96%	-2.67%	-2.44%
Debt-free Net Working Capital to Revenue	0.68%	-0.01%	1.18%	-0.21%	21.24%	3.54%	-1.70%	-2.18%	-0.43%	-0.57%
Net Working Capital to Revenue	-1.27%	-3.07%	-3.92%	-3.10%	19.83%	-0.09%	-5.65%	-4.28%	-2.07%	-6.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.66	$2.66	$4.44	$4.49	$3.93	$3.54	$4.32	$5.42	$5.69	$6.84
Adjusted Weighted Average Basic Shares Outstanding	445.65M	439.70M	433.67M	423.78M	424.71M	423.15M	414.59M	408.15M	401.60M	402.12M
Adjusted Diluted Earnings per Share	$1.65	$2.65	$4.41	$4.45	$3.91	$3.52	$4.29	$5.39	$5.66	$6.81
Adjusted Weighted Average Diluted Shares Outstanding	445.65M	439.70M	433.67M	423.78M	424.71M	423.15M	414.59M	408.15M	401.60M	402.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.93	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	445.65M	439.70M	433.67M	423.78M	424.71M	423.15M	414.59M	408.15M	401.60M	402.12M
Normalized Net Operating Profit after Tax (NOPAT)	1,520	1,562	2,331	2,214	2,186	1,958	2,287	2,632	2,880	3,294
Normalized NOPAT Margin	11.72%	11.48%	16.09%	14.84%	14.15%	12.87%	12.76%	13.36%	14.10%	14.93%
Pre Tax Income Margin	8.18%	13.39%	15.13%	15.93%	13.62%	12.44%	13.10%	14.81%	14.79%	15.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.67	0.00	438.00	0.00	31.25	46.02	13.50	0.00	0.00	579.86
NOPAT to Interest Expense	2.61	0.00	390.81	0.00	25.27	36.29	10.42	0.00	0.00	460.75
EBIT Less CapEx to Interest Expense	1.45	0.00	186.50	0.00	9.86	15.23	4.85	0.00	0.00	118.29
NOPAT Less CapEx to Interest Expense	0.39	0.00	139.31	0.00	3.88	5.50	1.77	0.00	0.00	-0.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	92.42%	61.53%	38.48%	41.71%	52.42%	61.97%	53.38%	48.08%	49.91%	44.08%
Augmented Payout Ratio	172.21%	122.97%	76.96%	93.92%	67.27%	88.84%	127.68%	115.04%	107.12%	53.62%

This table displays calculated financial ratios and metrics derived from Waste Management's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.79%	5.49%	4.96%	1.83%	2.42%	5.71%	5.46%	5.53%	7.91%	12.96%
EBITDA Growth	8.69%	6.31%	6.30%	5.24%	6.74%	0.15%	15.02%	5.73%	9.57%	18.45%
EBIT Growth	15.99%	5.91%	7.26%	6.77%	8.65%	2.73%	23.10%	6.55%	10.62%	14.79%
NOPAT Growth	18.14%	5.12%	7.19%	6.25%	6.62%	-3.90%	31.08%	7.29%	10.27%	37.33%
Net Income Growth	18.55%	-1.19%	3.50%	4.43%	3.60%	-6.20%	32.89%	10.93%	14.80%	27.51%
EPS Growth	20.31%	1.68%	5.69%	7.09%	5.84%	0.83%	34.62%	11.92%	15.34%	22.13%
Operating Cash Flow Growth	-0.17%	5.85%	-17.01%	-1.62%	6.85%	31.74%	30.94%	12.04%	7.52%	9.33%
Free Cash Flow Firm Growth	103.38%	-139.40%	-212.10%	-222.27%	-700.02%	-44.64%	95.40%	-31.54%	-67.69%	-1,523.35%
Invested Capital Growth	3.30%	4.78%	7.55%	7.96%	6.55%	5.19%	4.14%	8.88%	8.22%	40.86%
Revenue Q/Q Growth	0.95%	-2.76%	-0.87%	4.64%	1.54%	0.37%	-1.11%	4.71%	3.83%	5.06%
EBITDA Q/Q Growth	3.23%	-8.62%	1.29%	10.14%	4.70%	-14.26%	16.33%	1.24%	8.51%	-7.31%
EBIT Q/Q Growth	5.64%	-17.74%	7.40%	14.39%	7.51%	-22.22%	28.70%	-0.98%	11.61%	-19.29%
NOPAT Q/Q Growth	7.98%	-18.17%	6.01%	13.43%	8.36%	-26.25%	44.59%	-7.15%	11.37%	-8.15%
Net Income Q/Q Growth	8.86%	-21.75%	6.40%	15.23%	7.99%	-29.15%	50.75%	-3.82%	11.76%	-21.32%
EPS Q/Q Growth	9.22%	-21.43%	7.44%	16.15%	7.95%	-25.15%	43.44%	-3.43%	11.24%	-20.74%
Operating Cash Flow Q/Q Growth	12.89%	-11.25%	-0.48%	-1.34%	22.62%	9.42%	-1.09%	-15.58%	17.68%	11.27%
Free Cash Flow Firm Q/Q Growth	-87.09%	-485.64%	-143.17%	-1.00%	36.65%	7.04%	92.26%	-2,786.50%	19.24%	-799.93%
Invested Capital Q/Q Growth	2.04%	3.00%	1.48%	1.21%	0.71%	1.69%	0.47%	5.81%	0.11%	32.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.81%	37.33%	36.92%	37.76%	38.67%	39.70%	39.14%	39.08%	39.40%	39.71%
EBITDA Margin	28.35%	26.65%	27.23%	28.66%	29.55%	25.24%	29.70%	28.71%	30.01%	26.47%
Operating Margin	18.56%	15.50%	16.86%	18.44%	19.64%	15.05%	19.69%	18.68%	19.95%	15.59%
EBIT Margin	18.44%	15.60%	16.91%	18.48%	19.57%	15.16%	19.73%	18.66%	20.06%	15.41%
Profit (Net Income) Margin	12.59%	10.13%	10.87%	11.98%	12.74%	8.99%	13.70%	12.59%	13.55%	10.15%
Tax Burden Percent	77.17%	77.76%	76.44%	75.77%	75.92%	72.83%	81.36%	76.06%	76.38%	85.43%
Interest Burden Percent	88.46%	83.51%	84.16%	85.52%	85.74%	81.42%	85.36%	88.69%	88.44%	77.09%
Effective Tax Rate	22.83%	22.24%	23.56%	24.23%	24.08%	27.17%	18.64%	23.94%	23.62%	14.57%
Return on Invested Capital (ROIC)	14.17%	11.81%	12.75%	13.75%	14.56%	10.61%	15.56%	13.50%	14.71%	11.28%
ROIC Less NNEP Spread (ROIC-NNEP)	13.47%	11.09%	12.00%	12.98%	13.73%	9.88%	14.73%	12.92%	14.07%	10.27%
Return on Net Nonoperating Assets (RNNOA)	23.85%	20.78%	22.65%	24.43%	26.80%	20.44%	30.47%	26.73%	27.66%	25.05%
Return on Equity (ROE)	38.02%	32.59%	35.41%	38.18%	41.36%	31.04%	46.03%	40.23%	42.37%	36.33%
Cash Return on Invested Capital (CROIC)	9.75%	8.18%	5.76%	5.45%	6.82%	7.70%	9.50%	4.83%	5.74%	-21.55%
Operating Return on Assets (OROA)	12.22%	10.17%	11.14%	11.99%	12.76%	9.65%	12.77%	11.93%	12.87%	8.79%
Return on Assets (ROA)	8.34%	6.60%	7.16%	7.77%	8.31%	5.72%	8.87%	8.05%	8.69%	5.79%
Return on Common Equity (ROCE)	38.01%	32.55%	35.37%	38.12%	41.31%	31.02%	46.00%	40.20%	42.34%	36.35%
Return on Equity Simple (ROE_SIMPLE)	32.04%	0.00%	33.24%	33.06%	33.19%	0.00%	34.61%	33.77%	32.79%	0.00%
Net Operating Profit after Tax (NOPAT)	727	595	631	715	775	572	827	767	855	785
NOPAT Margin	14.32%	12.05%	12.89%	13.97%	14.91%	10.96%	16.02%	14.21%	15.24%	13.32%
Net Nonoperating Expense Percent (NNEP)	0.70%	0.72%	0.75%	0.77%	0.83%	0.72%	0.83%	0.59%	0.64%	1.01%
Return On Investment Capital (ROIC_SIMPLE)	-	2.72%	-	-	-	2.47%	-	-	-	2.44%
Cost of Revenue to Revenue	62.19%	62.67%	63.08%	62.24%	61.33%	60.30%	60.86%	60.92%	60.60%	60.29%
SG&A Expenses to Revenue	9.32%	9.87%	9.73%	9.12%	9.04%	9.83%	9.52%	9.27%	9.36%	12.68%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.25%	21.82%	20.05%	19.32%	19.03%	24.65%	19.44%	20.40%	19.45%	24.11%
Earnings before Interest and Taxes (EBIT)	936	770	827	946	1,017	791	1,018	1,008	1,125	908
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,439	1,315	1,332	1,467	1,536	1,317	1,532	1,551	1,683	1,560
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.25	9.11	9.64	10.05	8.75	10.30	12.12	11.47	10.44	9.81
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.33	3.17	3.29	3.47	3.02	3.48	4.15	4.08	3.90	3.67
Price to Earnings (P/E)	28.87	27.87	29.01	30.37	26.33	30.87	34.63	33.63	31.55	29.49
Dividend Yield	1.61%	1.71%	1.65%	1.58%	1.83%	1.59%	1.34%	1.36%	1.42%	1.49%
Earnings Yield	3.46%	3.59%	3.45%	3.29%	3.80%	3.24%	2.89%	2.97%	3.17%	3.39%
Enterprise Value to Invested Capital (EV/IC)	3.89	3.70	3.81	3.96	3.53	3.97	4.62	4.40	4.27	3.39
Enterprise Value to Revenue (EV/Rev)	4.00	3.86	3.99	4.18	3.73	4.20	4.86	4.82	4.60	4.68
Enterprise Value to EBITDA (EV/EBITDA)	14.61	14.09	14.52	15.07	13.30	15.19	17.18	17.03	16.17	16.32
Enterprise Value to EBIT (EV/EBIT)	23.43	22.63	23.28	24.05	21.11	23.97	26.65	26.37	24.95	25.43
Enterprise Value to NOPAT (EV/NOPAT)	30.44	29.46	30.31	31.36	27.68	31.88	34.78	34.37	32.56	32.00
Enterprise Value to Operating Cash Flow (EV/OCF)	17.37	16.78	18.41	19.43	17.14	18.19	19.93	19.57	18.70	19.15
Enterprise Value to Free Cash Flow (EV/FCFF)	40.57	46.26	68.58	75.38	53.43	52.82	49.64	94.86	77.38	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.01	2.18	2.26	2.22	2.22	2.35	2.27	2.25	2.09	2.90
Long-Term Debt to Equity	1.97	2.12	2.21	2.14	2.17	2.31	2.23	2.21	2.00	2.73
Financial Leverage	1.77	1.87	1.89	1.88	1.95	2.07	2.07	2.07	1.97	2.44
Leverage Ratio	4.14	4.32	4.34	4.37	4.42	4.67	4.61	4.56	4.46	5.11
Compound Leverage Factor	3.66	3.61	3.65	3.74	3.79	3.80	3.93	4.05	3.95	3.94
Debt to Total Capital	66.73%	68.58%	69.30%	68.93%	68.90%	70.18%	69.46%	69.20%	67.63%	74.33%
Short-Term Debt to Total Capital	1.22%	1.89%	1.52%	2.30%	1.33%	1.44%	1.45%	1.00%	2.75%	4.23%
Long-Term Debt to Total Capital	65.50%	66.69%	67.79%	66.63%	67.57%	68.74%	68.01%	68.20%	64.88%	70.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.07%	0.06%	0.09%	0.07%	-0.03%	-0.02%	-0.02%	-0.03%	0.01%
Common Equity to Total Capital	33.26%	31.35%	30.63%	30.99%	31.03%	29.85%	30.56%	30.82%	32.40%	25.66%
Debt to EBITDA	2.64	2.77	2.80	2.77	2.73	2.87	2.75	2.82	2.74	3.78
Net Debt to EBITDA	2.43	2.54	2.57	2.56	2.53	2.61	2.51	2.62	2.48	3.51
Long-Term Debt to EBITDA	2.59	2.70	2.74	2.68	2.68	2.81	2.69	2.78	2.63	3.56
Debt to NOPAT	5.50	5.80	5.85	5.76	5.68	6.03	5.57	5.69	5.51	7.41
Net Debt to NOPAT	5.07	5.31	5.36	5.32	5.27	5.47	5.07	5.29	4.98	6.89
Long-Term Debt to NOPAT	5.40	5.64	5.73	5.57	5.57	5.90	5.45	5.61	5.29	6.99
Altman Z-Score	3.04	2.79	2.91	3.00	2.79	2.94	3.37	3.28	3.20	2.36
Noncontrolling Interest Sharing Ratio	0.03%	0.12%	0.11%	0.15%	0.13%	0.06%	0.07%	0.09%	0.06%	-0.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.85	0.81	0.87	0.82	0.84	0.90	0.89	1.07	0.89	0.76
Quick Ratio	0.73	0.71	0.74	0.70	0.73	0.79	0.76	0.76	0.78	0.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	89	-343	-834	-843	-534	-496	-38	-1,109	-895	-8,057
Operating Cash Flow to CapEx	156.14%	121.69%	158.18%	198.08%	187.67%	132.63%	204.64%	173.01%	173.88%	135.52%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.65	0.66	0.65	0.65	0.64	0.65	0.64	0.64	0.57
Accounts Receivable Turnover	7.27	7.44	7.84	7.27	7.20	7.27	7.82	7.20	7.08	6.73
Inventory Turnover	83.55	82.23	78.23	76.12	75.17	74.81	70.53	72.32	72.29	70.62
Fixed Asset Turnover	1.35	1.31	1.33	1.32	1.30	1.25	1.26	1.26	1.25	1.22
Accounts Payable Turnover	8.23	7.83	8.62	8.33	7.78	7.26	8.10	7.48	7.23	7.13
Days Sales Outstanding (DSO)	50.18	49.09	46.58	50.24	50.67	50.23	46.68	50.69	51.56	54.24
Days Inventory Outstanding (DIO)	4.37	4.44	4.67	4.80	4.86	4.88	5.18	5.05	5.05	5.17
Days Payable Outstanding (DPO)	44.36	46.63	42.33	43.84	46.92	50.31	45.08	48.77	50.51	51.21
Cash Conversion Cycle (CCC)	10.18	6.90	8.92	11.19	8.61	4.80	6.78	6.97	6.10	8.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	19,971	20,571	20,876	21,129	21,280	21,639	21,741	23,005	23,030	30,481
Invested Capital Turnover	0.99	0.98	0.99	0.98	0.98	0.97	0.97	0.95	0.97	0.85
Increase / (Decrease) in Invested Capital	638	938	1,465	1,558	1,309	1,068	865	1,876	1,750	8,842
Enterprise Value (EV)	77,771	76,097	79,589	83,657	75,157	85,853	100,511	101,115	98,364	103,221
Market Capitalization	64,810	62,375	65,507	69,437	60,827	71,117	85,852	85,567	83,313	80,992
Book Value per Share	$16.96	$16.69	$16.65	$16.98	$17.16	$17.14	$17.66	$18.59	$19.88	$20.56
Tangible Book Value per Share	($7.09)	($8.04)	($8.26)	($8.11)	($7.97)	($7.72)	($7.21)	($6.63)	($6.44)	($23.36)
Total Capital	21,075	21,848	22,178	22,296	22,396	23,125	23,176	24,194	24,625	32,154
Total Debt	14,063	14,984	15,370	15,368	15,430	16,229	16,098	16,743	16,653	23,900
Total Long-Term Debt	13,805	14,570	15,034	14,855	15,133	15,895	15,762	16,501	15,977	22,541
Net Debt	12,959	13,707	14,068	14,201	14,314	14,743	14,663	15,554	15,058	22,227
Capital Expenditures (CapEx)	757	862	660	520	673	1,042	668	667	781	1,115
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-449	-780	-406	-402	-509	-546	-406	373	-458	-539
Debt-free Net Working Capital (DFNWC)	-312	-429	-149	-258	-359	-88	-84	545	156	-125
Net Working Capital (NWC)	-570	-843	-485	-771	-656	-422	-420	303	-520	-1,484
Net Nonoperating Expense (NNE)	88	95	99	102	113	103	120	87	95	187
Net Nonoperating Obligations (NNO)	12,959	13,707	14,068	14,201	14,314	14,743	14,663	15,554	15,058	22,227
Total Depreciation and Amortization (D&A)	503	545	505	521	519	526	514	543	558	652
Debt-free, Cash-free Net Working Capital to Revenue	-2.31%	-3.96%	-2.04%	-2.01%	-2.53%	-2.67%	-1.96%	1.78%	-2.14%	-2.44%
Debt-free Net Working Capital to Revenue	-1.60%	-2.18%	-0.75%	-1.29%	-1.78%	-0.43%	-0.41%	2.60%	0.73%	-0.57%
Net Working Capital to Revenue	-2.93%	-4.28%	-2.43%	-3.85%	-3.26%	-2.07%	-2.03%	1.44%	-2.43%	-6.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.55	$1.21	$1.31	$1.52	$1.64	$1.22	$1.76	$1.70	$1.89	$1.49
Adjusted Weighted Average Basic Shares Outstanding	410.48M	408.15M	406.82M	405.06M	402.78M	401.60M	401.08M	401.31M	401.37M	402.12M
Adjusted Diluted Earnings per Share	$1.54	$1.21	$1.30	$1.51	$1.63	$1.22	$1.75	$1.69	$1.88	$1.49
Adjusted Weighted Average Diluted Shares Outstanding	410.48M	408.15M	406.82M	405.06M	402.78M	401.60M	401.08M	401.31M	401.37M	402.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	410.48M	408.15M	406.82M	405.06M	402.78M	401.60M	401.08M	401.31M	401.37M	402.12M
Normalized Net Operating Profit after Tax (NOPAT)	728	630	631	716	775	752	825	812	861	804
Normalized NOPAT Margin	14.34%	12.76%	12.89%	13.99%	14.91%	14.41%	15.99%	15.02%	15.35%	13.64%
Pre Tax Income Margin	16.32%	13.03%	14.23%	15.80%	16.78%	12.34%	16.84%	16.55%	17.74%	11.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.79%	48.08%	48.32%	48.38%	48.59%	49.91%	47.08%	46.54%	45.49%	44.08%
Augmented Payout Ratio	109.62%	115.04%	119.18%	118.43%	110.53%	107.12%	96.12%	84.03%	67.43%	53.62%

Frequently Asked Questions About Waste Management's Financials

When does Waste Management's fiscal year end?

According to the most recent income statement we have on file, Waste Management's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Waste Management's net income changed over the last 9 years?

Waste Management's net income appears to be on an upward trend, with a most recent value of $2.75 billion in 2024, rising from $752 million in 2015. The previous period was $2.28 billion in 2023.

What is Waste Management's operating income?

Waste Management's total operating income in 2024 was $4.06 billion, based on the following breakdown:

Total Gross Profit: $8.68 billion
Total Operating Expenses: $4.62 billion

How has Waste Management revenue changed over the last 9 years?

Over the last 9 years, Waste Management's total revenue changed from $12.96 billion in 2015 to $22.06 billion in 2024, a change of 70.2%.

How much debt does Waste Management have?

Waste Management's total liabilities were at $36.31 billion at the end of 2024, a 40.1% increase from 2023, and a 142.1% increase since 2015.

How much cash does Waste Management have?

In the past 9 years, Waste Management's cash and equivalents has ranged from $22 million in 2017 to $3.56 billion in 2019, and is currently $414 million as of their latest financial filing in 2024.

How has Waste Management's book value per share changed over the last 9 years?

Over the last 9 years, Waste Management's book value per share changed from 11.97 in 2015 to 20.56 in 2024, a change of 71.7%.

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This page (NYSE:WM) was last updated on 4/14/2025 by MarketBeat.com Staff

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Waste Management (WM) Financials

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Waste Management (WM) Financials

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