Waste Management (WM) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Waste Management

NYSE•Industrials•Waste Management

$213.33-0.67(<0.01%)After hours

Market Cap

$85.29B

P/E

29.9x

P/S

3.3x

P/B

8.6x

Waste Management, Inc., through its subsidiaries, provides environmental solutions to residential, commercial, industrial, and municipal customers in the United States, Canada, Western Europe, and internationally. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, recovery facility, or disposal site; owns and operates transfer stations; and owns, develops, and operates landfill gas-to-energy facilities that produce renewable electricity and renewable natural gas. It also operates materials processing and commodities recycling services, including cardboard, paper, glass, metals, plastics, construction and demolition materials, and other recycling commodities are recovered for resale or redirected for other purposes; markets and resells recycling commodities; recycling brokerage services, such as managing the marketing of recyclable materials for third parties; and other strategic business solutions. In addition, the company collects recyclable food and yard waste, as well as markets and sells mulch, compost, soil amendments, and renewable energy; offers remediation and construction, and industrial waste services; and manages and markets fly ash. Further, it provides Regulated Waste and Compliance Services (RWCS), which offers compliance programs, as well as collection, processing, and disposal of regulated and specialized waste, including medical, pharmaceutical, and hazardous waste; and Secure Information Destruction (SID) services that include the collection of personal and confidential information for secure destruction and recycling of sorted office paper. The company was formerly known as USA Waste Services, Inc. and changed its name to Waste Management, Inc. in 1998. Waste Management, Inc. was founded in 1968 and is based in Houston, Texas.

How this company scores

GoodMetricSide Score: 76/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability22/25

Growth17/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowStrong marginsHigh ROECash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 29.9x5y range 26.7x – 38.1x

Currently near its 20-quarter median.

P/S · 3.3x5y range 3.1x – 4.1x

Currently near its 20-quarter median.

P/B · 8.6x5y range 8.6x – 12.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Leverage Risk

Watch

D/E ratio of 2.2 is elevated. Watch for further debt accumulation.

Price & Volume

Market Cap $85.29B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $25.67B
Q. Revenue: $6.68B
TTM EBITDA: $7.52B
TTM Op. Income: $4.51B
Q. Op. Income: $1.25B
TTM Net Income: $2.85B
Q. Net Income: $785.00M
EPS: $1.96
Shares Out.: $401.50M

$25.67B in TTM revenue grew 7.2% YoY, reaching $6.68B last quarter. TTM EBITDA of $7.52B and TTM operating income of $4.51B show growth is flowing through to the bottom line. TTM net income of $2.85B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 30.4%
Op. Margin: 18.7%
Net Margin: 11.7%

Op. margin of 18.7% is up 0.8% YoY — cost efficiency is improving. Net margin at 11.7% Over the past year, operating margin is up 5% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 29.9x
P/S Ratio: 3.3x
P/B Ratio: 8.6x

At 29.9x P/E, the stock trades within typical market levels. P/S of 3.3x and P/B of 8.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 12% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $46.44B
Cash: $557.00M
Long-Term Debt: $22.28B
Book Value: $9.93B
D/E Ratio: 2.2
Debt/EBITDA: 11.0

With $46.44B in assets and $22.28B in long-term debt, D/E is 2.2and book value is $9.93B — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is down 10% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.73B
TTM Free Cash Flow: $3.57B
FCF Margin: 13.9%
FCF / Net Income: 1.3

TTM FCF of $3.57B on $1.73B in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.