WM
Operates collection routes, landfills, recycling plants, landfill-gas energy, and healthcare-waste services.
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Profile
Collects and disposes of commercial, industrial, and residential waste primarily across the United States and Canada, while processing recyclables and converting landfill gas into energy, with healthcare services extending into Western Europe. Owned transfer and landfill infrastructure keeps much of the waste stream within its network.
Collects commercial, industrial, and residential waste, routes it through transfer stations and landfills, processes recyclables, and converts landfill gas into renewable natural gas and electricity. Five reportable segments—Collection and Disposal East Tier, Collection and Disposal West Tier, Recycling Processing and Sales, Renewable Energy, and Healthcare Solutions—serve the United States and Canada, with healthcare operations also in Western Europe.
Owned disposal infrastructure links collection routes to transfer and landfill capacity, allowing more waste to remain inside the network. Healthcare Solutions adds regulated medical-waste and controlled-substance services plus secure information destruction, while recycling increasingly uses fee-for-service contracts to cover processing costs before commodity rebates.
Operations depend on permitted landfill airspace and compliance with environmental, transport, privacy, and healthcare-waste rules; recycling results retain exposure to recovered-commodity markets.
Company facts
Categories
Key statistics
Year to date +0.6% · Average volume (30d) 1.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 7, 2026 | CIBC | Upgrade | Neutral | Outperform | ||
| Jul 6, 2026 | CIBC | Upgrade | Neutral | Outperform | $228 | $244 |
| Jan 30, 2026 | Oppenheimer | Reiterate | Outperform | $262 | $264 | |
| Jan 21, 2026 | Scotiabank | Downgrade | Sector Outperform | Sector Perform | $254 | $250 |
| Jan 9, 2026 | UBS | Upgrade | Neutral | Buy | $165 | $260 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $1.98 | $2.02 | +2.0% | $6.71B | $6.68B | −0.4% | −1.17% |
| Apr 28, 2026Q1 FY26 | $1.75 | $1.81 | +3.4% | $6.28B | $6.23B | −0.8% | +1.30% |
| Jan 28, 2026Q4 FY25 | $1.95 | $1.93 | −1.0% | $6.39B | $6.31B | −1.2% | −3.66% |
| Oct 27, 2025Q3 FY25 | $2.01 | $1.98 | −1.5% | $6.49B | $6.44B | −0.8% | −4.46% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.02B | $6.43B | $6.44B | $6.31B | $6.23B | $6.68B | |
| Gross profit | $1.72B | $1.88B | $1.88B | $1.85B | $2.53B | $2.73B | |
| Operating income | $1.03B | $1.19B | $1.22B | $1.18B | $1.11B | $1.25B | |
| Net income | $637.0M | $726.0M | $603.0M | $742.0M | $723.0M | $785.0M | |
| Diluted EPS | $1.58 | $1.80 | $1.49 | $1.83 | $1.79 | $1.95 | |
| Gross margin | 28.5% | 29.3% | 29.2% | 29.3% | 40.7% | 40.8% | |
| Operating margin | 17.1% | 18.5% | 18.9% | 18.6% | 17.9% | 18.7% |
Fiscal years (4-quarter sums)FY21 $17.93B · FY22 $19.70B · FY23 $20.43B · FY24 $22.06B · FY25 $25.20B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $557.0M · Total debt $23.36B · Total assets $46.44B · Shareholders' equity $9.93B
Dividends
Raised for 26 straight years — most recently to $0.945 from $0.825 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 5, 2026 | Jun 5 | Jun 18 | $0.945 | |
| Mar 13, 2026 | Mar 13 | Mar 27 | $0.945 | raised from $0.825 |
| Dec 5, 2025 | Dec 5 | Dec 19 | $0.825 | |
| Sep 12, 2025 | Sep 12 | Sep 26 | $0.825 | |
| Jun 6, 2025 | Jun 6 | Jun 20 | $0.825 | |
| Mar 14, 2025 | Mar 14 | Mar 28 | $0.825 | raised from $0.75 |
| Dec 6, 2024 | Dec 6 | Dec 20 | $0.75 | |
| Sep 13, 2024 | Sep 13 | Sep 27 | $0.75 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 399.72M · Float 398.75M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 30.73M | 7.69% | 13F | Aug 7, 2026 |
| Gates Foundation Trust | 28.93M | 7.20% | 13G | Nov 14, 2025 |
| Bill & Melinda Gates Foundation Trust | 26.72M | 6.68% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 25.18M | 6.30% | 13F | Aug 13, 2026 |
| State Street Corp | 18.01M | 4.51% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 5, 2026 | Rafael Carrasco | officer: SVP of Enterprise Strategy | −2,655 | $220.47 |
| Mar 9, 2026 | Christopher P. DeSantis | officer: SVP Operations - East | −61 | $245.50 |
| Mar 9, 2026 | John A. Carroll | officer: VP & Chief Accounting Officer | −47 | $245.30 |
| Mar 9, 2026 | Johnson Varkey | officer: SVP-Chief Information Officer | −121 | $245.27 |
| Mar 9, 2026 | John J. Morris | officer: President & COO | −4,211 | $243.38 |
Peers
- Republic Services
WM's largest national rival — solid-waste collection, landfill, and recycling.
- Waste Connections
Third-largest North American hauler — rural exclusives, best-in-class margins.
- GFL
Fourth-largest North American environmental company — aggressive acquirer.
- Clean Harbors
North America's leading hazardous-waste and industrial services company.
- Casella Waste Systems
Regional eastern US solid-waste hauler — WM's direct northeastern rival.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| WM | $219.31 | −0.15% | $87.80B | 31.1 | 25.7 | 3.4 | +4.0% |
| Republic Services | $225.00 | +1.32% | $68.34B | 31.5 | 29.2 | 4.0 | +4.6% |
| Waste Connections | $165.68 | −0.14% | $41.82B | 40.2 | 28.1 | 4.3 | +3.8% |
| GFL | $43.30 | +1.14% | $14.95B | — | 68.8 | 3.0 | +11.5% |
| Clean Harbors | $310.71 | +0.02% | $16.40B | 37.7 | 31.0 | 2.6 | +12.0% |
| Casella Waste Systems | $93.68 | −0.02% | $5.87B | 1,005.2 | 71.2 | 3.0 | +16.9% |
| Median | 38.9 | 31.0 | 3.0 | +11.5% |