TORVANTA
Industrials · S&P 500 · data as of 2026-10-05

WM stock analysis: Waste Management

Waste Management (WM) is an S&P 500 company in Environmental & Facilities Services.

The model's view of WM · subscribers

Where WM ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

See plans
What's happening with WM · updated 2026-10-05 · from prices and SEC filings

WM price performance

WM against the S&P 500, one year
-10%+0%+10%+20%S&P 500 +18%WM -4%2025-09-292026-10-05
Year to date-4.7%S&P 500 +14.5% · behind by 19.2 pts
1 year-4.4%S&P 500 +17.0% · behind by 21.4 pts
3 years+39.8%S&P 500 +89.3% · behind by 49.4 pts
5 years+49.2%S&P 500 +91.3% · behind by 42.1 pts

Total returns with dividends reinvested.

WM factor grades

Each grade compares WM with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

C+ValueP/E 29.3x (sector 27.2x)FCF yield 4.3% (sector 4.0%)
C+GrowthRevenue growth +7% (sector +7%)EPS growth +5% (sector +9%)
BProfitabilityOperating margin 17.6% (sector 16.9%)ROIC 34.0% (sector 19.9%)
CMomentum12-month change -4%From 52-wk high -15%

WM in plain numbers

WM key statistics

SectorIndustrials
IndustryEnvironmental & Facilities Services
IndexS&P 500
Market value$82.6B
Revenue growth (y/y)+7%
Free-cash-flow yield4.3%
Dividend yield1.8%
Next earnings (expected)2026-10-26
Valuation measures
Market value$82.6B
Enterprise value$83.1B
P/E (trailing)29.3x
Forward P/E (Torvanta estimate)28.0x
PEG (Torvanta estimate)6.21
Price / sales3.2x
Price / book8.3x
EV / revenue3.2x
EV / EBITDA11.1x
Financial highlights
Revenue, last 12 months$25.7B
Net income, last 12 months$2.9B
EPS, last 12 months (GAAP)$7.06
Gross margin40.9%
Operating margin17.6%
Net margin11.1%
Return on equity29.8%
Return on invested capital34.0%
Cash$557.0M
Total debt$1.1B
Debt / equity0.11x
Free cash flow, last 12 months$3.6B
Current ratio0.91x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

WM earnings trends

Revenue vs earnings
$0$1.7B$3.3B$5.0B$6.7BSep 2024 Revenue: $5.6BDec 2024 Revenue: $5.9BMar 2025 Revenue: $6.0BJun 2025 Revenue: $6.4BSep 2025 Revenue: $6.4BDec 2025 Revenue: $6.3BMar 2026 Revenue: $6.2BJun 2026 Revenue: $6.7BSep 2024 Net income: $760.0MDec 2024 Net income: $598.0MMar 2025 Net income: $637.0MJun 2025 Net income: $726.0MSep 2025 Net income: $603.0MDec 2025 Net income: $742.0MMar 2026 Net income: $723.0MJun 2026 Net income: $785.0MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 13.5%Net margin: 10.1%Net margin: 10.6%Net margin: 11.3%Net margin: 9.4%Net margin: 11.8%Net margin: 11.6%Net margin: 11.7%0%7%14%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.5$1.0$1.5$2.0Sep 2024 EPS (GAAP, diluted): $1.9Dec 2024 EPS (GAAP, diluted): $1.5Mar 2025 EPS (GAAP, diluted): $1.6Jun 2025 EPS (GAAP, diluted): $1.8Sep 2025 EPS (GAAP, diluted): $1.5Dec 2025 EPS (GAAP, diluted): $1.8Mar 2026 EPS (GAAP, diluted): $1.8Jun 2026 EPS (GAAP, diluted): $2.0Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 -21% · Dec 2025 +24% · Mar 2026 +13% · Jun 2026 +8%

From the company's 10-Q and 10-K filings with the SEC.

Waste Management financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$17.9B$19.7B$20.4B$22.1B$25.2B
Net income$1.8B$2.2B$2.3B$2.7B$2.7B
EPS (GAAP)$4.30$5.39$5.66$6.80$6.70
Free cash flow$2.3B$1.7B$1.8B$2.2B$2.8B

WM earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-28$1.95+8%+4%+0.8%
2026-04-28$1.79+13%+3%+2.3%
2026-01-28$1.83+24%+7%-3.3%
2025-10-27$1.49-21%+15%-6.3%
2025-07-28$1.80+7%+19%+2.9%
2025-04-28$1.58-10%+17%-0.5%

About Waste Management

HeadquartersHouston, TX
Industry (SEC code)Refuse Systems
Fiscal year endsDecember 31
Incorporated inDE
Listed onNYSE
FormerlyUSA WASTE SERVICES INC

From the company's SEC registration record.

Companies similar to WM

CompanyMarket valueP/ERevenue growthOperating margin12-month change
WM Waste Management$82.6B29.3x+7%17.6%-4%
RSG Republic Services$65.2B30.2x+3%17.4%-4%compare
VLTO Veralto$23.7B24.9x+6%23.1%-9%compare
ROL Rollins$14.3B27.0x+10%18.7%-49%compare

All Industrials stock ratings

Frequently asked questions

Is WM stock a buy?

Torvanta does not tell individuals what to buy. Its grades for WM are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is WM's P/E ratio?

WM trades at about 29.3 times its last 12 months of GAAP earnings reported to the SEC, and about 28.0 times Torvanta's own estimate of the next 12 months.

When does WM report earnings next?

Based on its filing history, Torvanta expects Waste Management to report around 2026-10-26.

Does WM pay a dividend?

Yes. Its dividend yield is about 1.8%, and it has raised its dividend 16 years in a row.

How has WM performed against the S&P 500?

Over the past year WM returned -4.4%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

See plans Or get the free weekly newsletter

Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

All stock ratings · Stock lists · AI stock research · Model portfolio · Research · Disclaimer