FY2025 · ended Dec 31, 2025 · Revenue $25.20B, +14.2% YoY · Filed Feb 9, 2026
Waste Management, Inc. (WM) files with the SEC under industry code 4953, Refuse Systems. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $25.2 billion and net income of $2.7 billion. Free cash flow was $2.8 billion. As of Sep 30, 2026 it held $247.0 million in cash and investments and $3.2 billion in total debt.
Revenue (TTM)
$26.07B
+5.2% vs year-ago TTM
Net income (TTM)
$3.07B
+19.7% vs year-ago TTM
Operating cash flow (TTM)
$6.57B
+12.1% vs year-ago TTM
Free cash flow (TTM)
$3.74B
+55.7% vs year-ago TTM
EPS (TTM)
$7.62
+20.1% vs year-ago TTM
Dividend per share (TTM)
$3.66
+13.5% vs year-ago TTM
Shares outstanding
403.34M
+0.3% vs prior year
Net cash
$-2.91B
as of Sep 30, 2026
Operating margin
18.4%
FY 2026
Company profile
- Industry
- Refuse Systems (SIC 4953)
- Listed as
- WM (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Houston, TX
- SEC filer status
- Large accelerated filer
- SEC CIK
- 823768
- Former names
- USA WASTE SERVICES INC (until Jul 10, 1998)
Other Refuse Systems companies
- Republic Services, Inc. RSG
- Waste Connections, Inc. WCN
- GFL Environmental Inc. GFL
- Casella Waste Systems Inc CWST
- OIO Group OIO
- Enviri Corp NVRI
- Quest Resource Holding Corp QRHC
- Avalon Holdings Corp AWX
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $25.2B | $22.1B | $20.4B | $19.7B | $17.9B |
| Operating income | $4.3B | $4.1B | $3.6B | $3.4B | $3.0B |
| Net income | $2.7B | $2.7B | $2.3B | $2.2B | $1.8B |
| Diluted EPS | $6.70 | $6.81 | $5.66 | $5.39 | $4.29 |
| Operating cash flow | $6.0B | $5.4B | $4.7B | $4.5B | $4.3B |
| Free cash flow | $2.8B | $2.2B | $1.8B | $1.9B | $2.4B |
| Total assets | $45.8B | $44.6B | $32.8B | $31.4B | $29.1B |
| Total liabilities | $35.8B | $36.3B | $25.9B | $24.5B | $22.0B |
| Stockholders' equity | $10.0B | $8.3B | $6.9B | $6.8B | $7.1B |
| Cash and investments | $201.0M | $414.0M | $458.0M | $351.0M | $118.0M |
| Total debt | $23.9B | $24.9B | $16.7B | $15.5B | $13.9B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 28, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 27, 2026 | Oct 27, 2026 |
| 8-K |
Current report
Officer or director change, Regulation FD disclosure
|
Aug 26, 2026 | Aug 24, 2026 |
| 10-Q | Quarterly report | Jul 29, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Jul 28, 2026 | Jul 28, 2026 |
| 8-K |
Current report
Shareholder vote results
|
May 14, 2026 | May 12, 2026 |
All 1007 Waste Management, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.