WASTE MANAGEMENT INC

Listed Company

WMCIK 0000823768NYSELarge AcceleratedRefuse SystemsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$25.20B

Net Income

$2.71B

Total Assets

$45.84B

Equity

$9.99B

Shares Out

401.58M

Op. Cash Flow

$6.04B

Business

WASTE MANAGEMENT INC is a holding company that, through its subsidiaries, provides comprehensive environmental and waste management solutions across collection, processing, treatment and disposal services. It offers residential and commercial waste collection, transfer and landfill disposal, recycling processing and sales, landfill gas-to-energy and renewable natural gas production, and regulated medical waste and secure information destruction services. The company reports operations through five principal segments: Collection and Disposal (East and West Tiers), Recycling Processing and Sales, WM Renewable Energy and WM Healthcare Solutions. Its services are delivered throughout the United States, Canada and select international markets via local operating subsidiaries, transfer stations, recycling and processing facilities, landfills and dedicated service fleets.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating revenues	25,204	22,063	20,426	19,698	17,931
Operating	15,012	13,383	12,606	12,294	11,111
Selling, general and administrative	2,722	2,264	1,926	1,938	1,864
Depreciation, depletion and amortization	2,863	2,267	2,071	2,038	1,999
Restructuring	51	4	5	1	8
(Gain) loss from divestitures, asset impairments and unusual items, net	248	82	243	62	−16
Total costs and expenses	20,896	18,000	16,851	16,333	14,966
Income from operations	4,308	4,063	3,575	3,365	2,965
Interest expense, net	−912	−598	−500	−378	−365
Equity in net income (loss) of unconsolidated entities	10	4	−60	−67	−36
Other, net	20	−11	6	−2	5
Total other income (expense)	−882	−605	−554	−447	−616
Income before income taxes	3,426	3,458	3,021	2,918	2,349
Income tax expense	717	713	745	678	532
Consolidated net income	2,709	2,745	2,276	2,240	1,817
Less: Net income (loss) attributable to noncontrolling interests	1	−1	−28	2	1
Net income attributable to Waste Management, Inc.	2,708	2,746	2,304	2,238	1,816
Basic earnings per common share	6.72	6.84	5.69	5.42	4.32
Diluted earnings per common share	6.7	6.81	5.66	5.39	4.29

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	201	414	458	351	118
Accounts receivable, net of allowance for doubtful accounts of $87 and $165, respectively	3,435	3,272	2,633	2,461	2,278
Other receivables, net of allowance for doubtful accounts of $3 and $4, respectively	620	415	237	291	268
Parts and supplies	225	206	173	164	135
Other current assets	429	467	303	284	270
Total current assets	4,910	4,774	3,804	3,551	3,069
Property and equipment, net of accumulated depreciation and depletion of $25,096 and $23,777, respectively	20,378	19,340	16,968	15,719	14,419
Goodwill	13,900	13,400	9,254	9,323	9,028
Other intangible assets, net	3,767	4,188	759	827	898
Restricted funds	513	413	422	348	348
Investments in unconsolidated entities	779	846	606	578	432
Other long-term assets	1,608	1,568	1,010	1,021	903
Total assets	45,835	44,567	32,823	31,367	29,097
Accounts payable	1,867	2,046	1,709	1,766	1,375
Accrued liabilities	2,211	2,180	1,605	1,625	1,428
Deferred revenues	735	673	578	589	571
Current portion of long-term debt	711	1,359	334	414	708
Total current liabilities	5,524	6,258	4,226	4,394	4,082
Long-term debt, less current portion	22,196	22,541	15,895	14,570	12,697
Deferred income taxes	3,160	2,815	1,826	1,733	1,694
Landfill and environmental remediation liabilities	3,278	3,048	2,888	2,700	2,373
Other long-term liabilities	1,686	1,651	1,092	1,106	1,125
Total liabilities	35,844	36,313	25,927	24,503	21,971
Commitments and contingencies (Note 10)	—	—	—	—	—
Common stock, $0.01 par value; 1,500,000,000 shares authorized; 630,282,461 shares issued	6	6	6	6	6
Additional paid-in capital	5,676	5,496	5,351	5,314	5,169
Retained earnings	17,232	15,858	14,334	13,167	12,004
Accumulated other comprehensive income (loss)	−10	−115	−37	−69	17
Treasury stock at cost 227,340,757 and 228,788,284 shares, respectively	−12,914	−12,993	−12,751	−11,569	−10,072
Total Waste Management, Inc. stockholders' equity	9,990	8,252	6,903	6,849	7,124
Noncontrolling interests	1	2	−7	15	2
Total equity	9,991	8,254	6,896	6,864	7,126
Total liabilities and equity	45,835	44,567	32,823	31,367	29,097

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense (benefit)	363	124	83	49	−77
Interest accretion on landfill and environmental remediation liabilities	142	133	130	112	111
Provision for bad debts	93	51	56	50	37
Equity-based compensation expense	169	118	93	84	108
Net gain on disposal of assets	−21	−102	−42	−21	−25
(Gain) loss from divestitures, asset impairments and other, net	248	82	243	62	−16
Equity in net (income) loss of unconsolidated entities, net of dividends	−10	−4	60	67	38
Receivables	−511	−313	−161	−329	28
Other current assets	−49	40	−2	−35	−39
Other assets	225	181	61	42	34
Accounts payable and accrued liabilities	41	281	90	393	206
Deferred revenues and other liabilities	−219	−213	−239	−216	−103
Net cash provided by operating activities	6,043	5,390	4,719	4,536	4,338
Acquisitions of businesses, net of cash acquired	−395	−7,488	−170	−377	−75
Capital expenditures	−3,227	−3,231	−2,895	−2,587	−1,904
Proceeds from divestitures of businesses and other assets, net of cash divested	121	158	78	27	96
Other, net	−65	−40	−104	−126	−11
Net cash used in investing activities	−3,566	−10,601	−3,091	−3,063	−1,894
New borrowings	20,414	24,578	21,306	8,688	7,948
Debt repayments	−21,747	−17,870	−20,394	−7,328	−8,404
Common stock repurchase program	—	−262	−1,302	−1,500	−1,350
Cash dividends	−1,300	−1,200	−1,100	−1,077	−970
Exercise of common stock options	61	53	44	44	66
Tax payments associated with equity-based compensation transactions	−51	−52	−31	−39	−28
Other, net	−16	−82	−11	−4	49
Net cash provided by (used in) financing activities	−2,673	5,155	−1,524	−1,216	−2,900
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	6	−9	3	−6	2
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	−190	−65	107	251	−454

Filings

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