WM financial statements

The full income statement, balance sheet, and cash-flow statement for Waste Management Inc. (WM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	25.2B YoY+14.2%	22.1B YoY+8.0%	20.4B YoY+3.7%	19.7B YoY+9.9%	17.9B YoY+17.8%
Cost of revenue	15.0B YoY+12.2%	13.4B YoY+6.2%	12.6B YoY+2.5%	12.3B YoY+10.6%	11.1B YoY+18.9%
Selling, general & administrative	2.72B YoY+20.2%	2.26B YoY+17.5%	1.93B YoY-0.6%	1.94B YoY+4.0%	1.86B YoY+7.9%
Restructuring	51.0M YoY+1175.0%	4.00M YoY-20.0%	5.00M YoY+400.0%	1.00M YoY-87.5%	8.00M YoY-11.1%
Amortization of intangibles	421M YoY+133.9%	180M YoY+39.5%	129M YoY+0.0%	129M YoY-9.8%	143M YoY+33.6%
Provision for credit losses	85.0M YoY+30.8%	65.0M YoY+22.6%	53.0M YoY-3.6%	55.0M YoY+57.1%	35.0M YoY-31.4%
Operating income	4.31B YoY+6.0%	4.06B YoY+13.7%	3.58B YoY+6.2%	3.37B YoY+13.5%	2.96B YoY+21.8%
Other non-operating income	20.0M YoY+281.8%	-11.0M YoY-283.3%	6.00M YoY+400.0%	-2.00M YoY-140.0%	5.00M YoY+0.0%
Equity-method income	10.0M YoY+150.0%	4.00M YoY+106.7%	-60.0M YoY+10.4%	-67.0M YoY-86.1%	-36.0M YoY+47.1%
Pre-tax income	3.43B YoY-0.9%	3.46B YoY+14.5%	3.02B YoY+3.5%	2.92B YoY+24.2%	2.35B YoY+24.1%
Income tax	717M YoY+0.6%	713M YoY-4.3%	745M YoY+9.9%	678M YoY+27.4%	532M YoY+34.0%
	2.71B YoY-1.4%	2.75B YoY+19.2%	2.30B YoY+2.9%	2.24B YoY+23.2%	1.82B YoY+21.4%
Net income to non-controlling interest	1.00M YoY+200.0%	-1.00M YoY+96.4%	-28.0M YoY-1500.0%	2.00M YoY+100.0%	1.00M
	$6.70 YoY-1.6%	$6.81 YoY+20.3%	$5.66 YoY+5.0%	$5.39 YoY+25.6%	$4.29 YoY+21.9%
EPS (basic)	$6.72 YoY-1.8%	$6.84 YoY+20.2%	$5.69 YoY+5.0%	$5.42 YoY+25.5%	$4.32 YoY+22.0%
	403M YoY+0.3%	402M YoY-0.8%	405M YoY-1.9%	413M YoY-1.8%	420M YoY-0.6%
	404M YoY+0.2%	403M YoY-0.9%	407M YoY-2.0%	415M YoY-1.9%	423M YoY-0.5%
Dividends per share	$3.30 YoY+10.0%	$3.00 YoY+7.1%	$2.80 YoY+7.7%	$2.60 YoY+13.0%	$2.30 YoY+5.5%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.91B YoY+2.8%	4.77B YoY+25.5%	3.80B YoY+7.1%	3.55B YoY+15.7%	3.07B YoY-13.3%
Cash & equivalents	201M YoY-51.4%	414M YoY-9.6%	458M YoY+30.5%	351M YoY+197.5%	118M YoY-78.7%
Accounts receivable	3.44B YoY+5.0%	3.27B YoY+24.3%	2.63B YoY+7.0%	2.46B YoY+8.0%	2.28B YoY+8.6%
Other current assets	429M YoY-8.1%	467M YoY+54.1%	303M YoY+6.7%	284M YoY+5.2%	270M YoY+13.0%
	45.8B YoY+2.8%	44.6B YoY+35.8%	32.8B YoY+4.6%	31.4B YoY+7.8%	29.1B YoY-0.8%
Operating lease right-of-use	959M YoY-3.7%	996M YoY+119.9%	453M YoY-0.7%	456M YoY+1.1%	451M YoY-3.2%
Goodwill	13.9B YoY+3.3%	13.4B YoY+45.2%	9.25B YoY-0.7%	9.32B YoY+3.3%	9.03B YoY+0.4%
Intangible assets	3.77B YoY-10.1%	4.19B YoY+451.8%	759M YoY-8.2%	827M YoY-7.9%	898M YoY-12.3%
Other non-current assets	1.61B YoY+2.6%	1.57B YoY+55.2%	1.01B YoY-1.1%	1.02B YoY+13.1%	903M YoY+4.3%
	5.52B YoY-11.7%	6.26B YoY+48.1%	4.23B YoY-3.8%	4.39B YoY+7.6%	4.08B YoY+14.9%
Accounts payable	1.87B YoY-8.7%	2.05B YoY+19.7%	1.71B YoY-3.2%	1.77B YoY+28.4%	1.38B YoY+22.7%
Accrued liabilities	2.21B YoY+1.4%	2.18B YoY+35.8%	1.60B YoY-1.2%	1.63B YoY+13.8%	1.43B YoY+6.4%
Deferred revenue	735M YoY+9.2%	673M YoY+16.4%	578M YoY-1.9%	589M YoY+3.2%	571M YoY+5.9%
Short-term & current debt	711M YoY-47.7%	1.36B YoY+306.9%	334M YoY-19.3%	414M YoY-41.5%	708M YoY+28.5%
Current lease liability	165M YoY+1.9%	162M YoY+145.5%	66.0M YoY+3.1%	64.0M YoY+0.0%	64.0M YoY+1.6%
	35.8B YoY-1.3%	36.3B YoY+40.1%	25.9B YoY+5.8%	24.5B YoY+11.5%	22.0B YoY+0.4%
Non-current lease liability	845M YoY-3.8%	878M YoY+94.2%	452M YoY-1.7%	460M YoY+0.2%	459M YoY+1.3%
Deferred tax liabilities	3.16B YoY+12.3%	2.81B YoY+54.2%	1.83B YoY+5.4%	1.73B YoY+2.3%	1.69B YoY-6.2%
Other non-current liabilities	1.69B YoY+2.1%	1.65B YoY+51.2%	1.09B YoY-1.3%	1.11B YoY-1.7%	1.13B YoY+7.0%
	9.99B YoY+21.1%	8.25B YoY+19.5%	6.90B YoY+0.8%	6.85B YoY-3.9%	7.12B YoY-4.4%
Common stock	6.00M YoY+0.0%	6.00M YoY+0.0%	6.00M YoY+0.0%	6.00M YoY+0.0%	6.00M YoY+0.0%
Additional paid-in capital	5.68B YoY+3.3%	5.50B YoY+2.7%	5.35B YoY+0.7%	5.31B YoY+2.8%	5.17B YoY+0.8%
Retained earnings	17.2B YoY+8.7%	15.9B YoY+10.6%	14.3B YoY+8.9%	13.2B YoY+9.7%	12.0B YoY+7.6%
Treasury stock	12.9B YoY-0.6%	13.0B YoY+1.9%	12.8B YoY+10.2%	11.6B YoY+14.9%	10.1B YoY+13.4%
Accumulated other comprehensive income	-10.0M YoY+91.3%	-115M YoY-210.8%	-37.0M YoY+46.4%	-69.0M YoY-505.9%	17.0M YoY-56.4%
Non-controlling interest	1.00M YoY-50.0%	2.00M YoY+128.6%	-7.00M YoY-146.7%	15.0M YoY+650.0%	2.00M YoY+0.0%
Total equity incl. non-controlling	9.99B YoY+21.0%	8.25B YoY+19.7%	6.90B YoY+0.5%	6.86B YoY-3.7%	7.13B YoY-4.4%
Total liabilities & equity	45.8B YoY+2.8%	44.6B YoY+35.8%	32.8B YoY+4.6%	31.4B YoY+7.8%	29.1B YoY-0.8%
	630M YoY+0.0%	630M YoY+0.0%	630M YoY+0.0%	630M YoY+0.0%	630M YoY+0.0%
	403M YoY+0.3%	402M YoY+0.0%	402M YoY-1.6%	408M YoY-2.0%	416M YoY-1.6%
	403M YoY+0.3%	402M YoY+0.1%	402M YoY-1.6%	408M YoY-1.6%	415M YoY-2.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	6.04B YoY+12.1%	5.39B YoY+14.2%	4.72B YoY+4.0%	4.54B YoY+4.6%	4.34B YoY+27.5%
Depreciation & amortization	2.86B YoY+26.3%	2.27B YoY+9.5%	2.07B YoY+1.6%	2.04B YoY+2.0%	2.00B YoY+19.6%
Share-based compensation	169M YoY+43.2%	118M YoY+26.9%	93.0M YoY+10.7%	84.0M YoY-22.2%	108M YoY+14.9%
Deferred income taxes	363M YoY+192.7%	124M YoY+49.4%	83.0M YoY+69.4%	49.0M YoY+163.6%	-77.0M YoY-146.7%
	-3.57B YoY+66.4%	-10.6B YoY-243.0%	-3.09B YoY-0.9%	-3.06B YoY-61.7%	-1.89B YoY+60.9%
Capital expenditure	3.23B YoY-0.1%	3.23B YoY+11.6%	2.90B YoY+3.1%	2.81B YoY+37.8%	2.04B YoY+28.6%
Free cash flow	2.82B YoY+30.4%	2.16B YoY+18.4%	1.82B YoY+5.6%	1.73B YoY-24.9%	2.30B YoY+26.5%
Acquisitions	395M YoY-94.7%	7.49B YoY+4304.7%	170M YoY-54.9%	377M YoY+402.7%	75.0M YoY-98.2%
Other investing activities	65.0M YoY+62.5%	40.0M YoY-61.5%	104M YoY-17.5%	126M YoY+1045.5%	11.0M YoY-26.7%
	-2.67B YoY-151.9%	5.16B YoY+438.3%	-1.52B YoY-25.3%	-1.22B YoY+58.1%	-2.90B YoY-86.0%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00 YoY-100.0%	262M YoY-79.9%	1.30B YoY-13.2%	1.50B YoY+11.1%	1.35B YoY+235.8%
Dividends paid	1.33B YoY+10.2%	1.21B YoY+6.5%	1.14B YoY+5.5%	1.08B YoY+11.0%	970M YoY+4.6%
Other financing activities	-16.0M YoY+80.5%	-82.0M YoY-645.5%	-11.0M YoY-175.0%	-4.00M YoY-108.2%	49.0M YoY+345.0%
FX effect on cash	—	—	—	—	2.00M YoY-50.0%
Net change in cash	-190M YoY-192.3%	-65.0M YoY-160.7%	107M YoY-57.4%	251M YoY+155.3%	-454M YoY+84.9%
Interest paid	927M YoY+74.9%	530M YoY+18.6%	447M YoY+28.4%	348M YoY-10.1%	387M YoY-16.1%
Income taxes paid	494M YoY-23.4%	645M YoY+1.9%	633M YoY-14.0%	736M YoY+98.9%	370M YoY-12.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	88.6B YoY+9.2%	81.1B YoY+12.5%	72.1B YoY+12.0%	64.4B YoY-6.9%	69.2B YoY+38.7%
P/E	32.7× YoY+10.7%	29.5× YoY-5.4%	31.2× YoY+8.9%	28.7× YoY-24.7%	38.1× YoY+14.2%
P/S	3.5× YoY-4.4%	3.7× YoY+2.7%	3.6× YoY+8.1%	3.3× YoY-14.2%	3.9× YoY+17.7%
P/B	8.9× YoY-9.8%	9.8× YoY-5.3%	10.4× YoY+13.0%	9.2× YoY-5.4%	9.7× YoY+45.0%
P/FCF	31.5× YoY-16.3%	37.6× YoY-10.0%	41.8× YoY+49.1%	28.0× YoY-6.9%	30.1× YoY+9.6%
	3.1% YoY-9.7%	3.4% YoY+5.7%	3.2% YoY-8.1%	3.5% YoY+32.8%	2.6% YoY-12.5%
	3.2% YoY+19.4%	2.7% YoY+11.1%	2.4% YoY-32.9%	3.6% YoY+7.5%	3.3% YoY-8.8%
	1.5% YoY+1.0%	1.5% YoY-4.9%	1.6% YoY-5.7%	1.7% YoY+20.3%	1.4% YoY-25.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: WM's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all WM filings on SEC EDGAR → Not investment advice.