Company Analysis

Waste Management, Inc. (WM)

NYSE: WM · Refuse Systems · Houston, TX · filing with the SEC since 1994
Grade5.8
◀ Past 5.3● Present 6.1▶ Future 5.9

The grade of Waste Management, Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.8/10
◀ Past5.330% of the headline
● Present6.140% of the headline
▶ Future5.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

5.3/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
2.3/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2020-07-15.

weight 33% of this tense · 23rd percentile among 11 sector filers · read for itself

From the record

Waste Management, Inc.'s filings since 2017 show 1 warning event: a debt default or acceleration notice (8-K item 2.04, the latest 2020-07-15) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
5.8/10

What has it actually done, year after year?

+7.1% a year over 10 filed years; profitable in 10 of 10.

weight 45% of this tense · 58th percentile among 9 sector filers · read for its customers

From the record

Waste Management, Inc.'s 10 filed years say what it did: revenue went from $14 billion in fiscal 2016 to $25 billion in fiscal 2025, up 7.1% a year; it rose in 8 of 9 years; the deepest fall was 2% from fiscal 2019 to fiscal 2020; net income was positive in 10 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span7.1%bottom 28% of its family
  • the share of years revenue rosetop 28% of its family
  • the share of filed years with a profittop 17% of its family
  • the deepest fall from a revenue peak1.5%top 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
8.8/10

How has it treated the people who own it?

Share count shrank 0.9% a year. 32% of cash flow returned. Insiders: 36 sales, 0 purchases.

weight 22% of this tense · 88th percentile among 8 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Waste Management, Inc.'s diluted share count shrank about 0.9% a year, and dividends and buybacks returned about 32% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 36 sales (29 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-11-09 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 5% of its family
  • cash returned against operating cash flowtop 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.1/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
5.4/10

Is it financially healthy right now?

ROE 27%: 27¢ of profit per shareholder dollar. Leverage 78%: owes 78¢ per asset dollar.

weight 33% of this tense · 54th percentile among 10 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Waste Management, Inc. earned about 27 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 22 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 78 cents per dollar of assets, and net share issuance: its share count grew 0.2% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 15% of its family
  • return on equitytop 15% of its family
  • gross profit against assetstop 39% of its family
  • the share count against the year beforetop 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.8/10

How strong is its position in its industry?

top 32% of 10 in its family; net margin 10.7%.

weight 45% of this tense · 68th percentile among 10 sector filers · read for its customers

From the record

Waste Management, Inc.'s standing among 10 graded names in its industry family: revenue of $25 billion in fiscal 2025 ranks in the top 6% by size; a net margin of 10.7% ranks in the top 35%; revenue growth of 8.6% a year over the last 3 filed years ranks in the bottom 45% (its annual reports).

What it rests on

  • revenue against the family$25.20Btop 6% of its family
  • net margin10.7%top 35% of its family
  • three-year revenue growth8.6%bottom 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
5.5/10

What are the people in charge doing?

top 45% of 6 in its family for leadership; chief executive since 2016.

weight 22% of this tense · 55th percentile among 6 sector filers · read for its shareholders

From the record

Waste Management, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Fish, James C Jr (Chief Executive Officer, as filed), filing under that title since 2016-11-15, 10 years (top 8% of its family); the 21 officers and directors filing in the last fifteen months have been on the record a median of 5.7 years (bottom 42%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 21 people in charge now (bottom 31%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge10 in three years among 21 peoplebottom 31% of its family
  • the median years the people in charge have filed5.7 yearsbottom 42% of its family
  • the chief executive's years on the record10.0 yearstop 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.7/10

How much room does it have to grow?

bottom 47% of 10 in its family for room to expand.

weight 22% of this tense · 47th percentile among 10 sector filers · read for itself

From the record

Waste Management, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $201 million against debt of $22 billion leaves -48% of its assets as net cash, bottom 5% of its family; cash from operations less capital spending is 11.2% of revenue (top 35%); a gross margin of 40.4% (top 28%) (its annual report).

What it rests on

  • cash less debt against assets-48.0%bottom 5% of its family
  • cash from operations less capital spending against revenue11.2%top 35% of its family
  • gross margin40.4%top 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.6/10

What could actually drive growth from here?

top 34% of 9 in its family for growth drivers.

weight 45% of this tense · 66th percentile among 9 sector filers · read for its customers

From the record

Waste Management, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 8.6% a year over the last three filed years against 7.1% over all 10, speeding up (top 17% of its family); the newest year grew 14.2% (top 28%); capital spending grew 7.6% a year (bottom 44%) (its annual reports). Waste Management, Inc. reported 7 lines of business in fiscal 2025: East Tier Region Areas at $9.0 billion (36%), West Tier Region Areas at $8.7 billion (35%), All Other at $2.9 billion (12%), and 4 more; 5 of 7 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+1.5 points a yeartop 17% of its family
  • the newest year's revenue growth14.2%top 28% of its family
  • three-year growth of capital spending7.6%bottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.6/10

Did its newest year beat what its own record pointed to?

top 44% of 8 in its family for expectations against reality.

weight 33% of this tense · 56th percentile among 8 sector filers · read for its shareholders

From the record

Waste Management, Inc.'s newest year against its own record: revenue of $25 billion in fiscal 2025 came in 7.9% above the $23 billion its prior three years' pace pointed to (top 19% of its family); net income of $2.7 billion against a prior three-year average of $2.4 billion (bottom 44%); a net margin of 10.7% against 11.7% before (bottom 44%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace7.9%top 19% of its family
  • net income against the prior three years' average+12%bottom 44% of its family
  • net margin against its prior average-1.0 pointsbottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton WM · research, not advice