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WM

Waste Management Inc

US$201.90-0.99% (-US$2.02)
Day's range
US$201.44 – US$204.85
Day's volume
US$314.1m
52-week range
US$193.54 – US$243.40

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WM in numbers

Market cap
US$81bn
P/E
28.29
P/B
8.13
Dividend yield (12m)
1.81%

The 12-month dividend yield of WM is 1.81%, above its 5-year average of 1.52%.

WM price history

02/10/202501/10/2026
Compare with

WM risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+2.92%+28.83%+36.57%
Volatility (annualised)19.02%18.31%18.57%
Largest drawdown-14.96%-16.50%-16.50%
Positive months7/1222/3633/60

How much did investing in WM return?

US$1,000.00 invested on 01/09/2021 would be worth US$1,477.36 today.

Value today in WM
US$1,477.36
Return over the period
+47.74%
Return per year
+8.12%
In the S&P 500
US$1,776.31

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

WM fundamentals

Valuation

  • P/E
    28.29
  • P/B
    8.13
  • EV/EBITDA
    10.77
  • EV/EBIT
    17.95
  • EV/Revenue
    3.15
  • P/EBIT
    17.95
  • P/S
    3.15
  • P/OCF
    12.43
  • P/FCF
    —
  • Earnings yield
    5.57%
  • PEG ratio
    —
  • Earnings per share
    US$7.14
  • Book value per share
    US$24.83

Debt

  • Net debt
    —
  • Net debt/EBITDA
    —
  • Net debt/Equity
    —
  • Debt/Equity
    —
  • Current ratio
    0.91
  • Quick ratio
    —
  • Cash ratio
    0.09

Efficiency

  • Gross margin
    40.88%
  • EBITDA margin
    29.30%
  • Operating margin
    17.57%
  • Net margin
    11.12%
  • Asset turnover
    0.55

Profitability

  • ROE
    28.75%
  • ROA
    6.14%
  • ROIC
    35.78%
  • Payout
    51.28%

Growth

  • Revenue CAGR (5 years)
    9.22%
  • Earnings CAGR (5 years)
    12.26%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is WM's fair price?

Two classic value formulas, with today's numbers. The current price is US$201.90.

Graham's fair price
US$63.15
68.72% below the price

√(22.50 × US$7.14 × US$24.83)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$46.67
76.89% below the price

US$2.80 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

WM indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E32.7229.5531.2228.6138.1033.3628.9819.59
P/B8.879.8310.429.359.716.706.856.01
EV/EBITDA12.3612.8212.7411.8513.9412.1611.318.84
Dividend yield1.50%1.49%1.56%1.66%1.38%1.85%1.80%2.09%
Earnings per shareUS$6.71US$6.83US$5.74US$5.48US$4.38US$3.54US$3.93US$4.54
Book value per shareUS$24.77US$20.52US$17.19US$16.78US$17.18US$17.61US$16.64US$14.81
ROE27.11%33.28%33.38%32.68%25.49%20.08%23.63%30.68%
ROIC34.10%39.08%39.02%37.72%32.19%25.81%30.39%35.97%
Gross margin40.44%39.34%38.28%37.59%38.03%38.62%38.56%37.98%
EBITDA margin28.45%28.69%27.64%27.43%27.68%26.97%27.69%28.60%
Net margin10.74%12.45%11.28%11.36%10.13%9.83%10.81%12.91%

WM financial statements

Line202520242023202220212020
Net revenueUS$25.2bnUS$22.1bnUS$20.4bnUS$19.7bnUS$17.9bnUS$15.2bn
Cost of sales-US$15bn-US$13.4bn-US$12.6bn-US$12.3bn-US$11.1bn-US$9.3bn
Gross profitUS$10.2bnUS$8.7bnUS$7.8bnUS$7.4bnUS$6.8bnUS$5.9bn
EBITDAUS$7.2bnUS$6.3bnUS$5.6bnUS$5.4bnUS$5bnUS$4.1bn
EBITUS$4.3bnUS$4.1bnUS$3.6bnUS$3.4bnUS$3bnUS$2.4bn
Net finance result——————
Profit before taxUS$3.4bnUS$3.5bnUS$3bnUS$2.9bnUS$2.3bnUS$1.9bn
Income tax-US$717m-US$713m-US$745m-US$678m-US$532m-US$397m
Net incomeUS$2.7bnUS$2.7bnUS$2.3bnUS$2.2bnUS$1.8bnUS$1.5bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does WM pay dividends?

Dividend yield per year

  • 1.97%2017
  • 2.09%2018
  • 1.80%2019
  • 1.85%2020
  • 1.38%2021
  • 1.66%2022
  • 1.56%2023
  • 1.49%2024
  • 1.50%2025
  • 1.40%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend10/09/202625/09/2026US$0.95
Dividend04/06/202618/06/2026US$0.95
Dividend12/03/202627/03/2026US$0.95
Dividend04/12/202519/12/2025US$0.83
Dividend11/09/202526/09/2025US$0.83
Dividend05/06/202520/06/2025US$0.83
Dividend13/03/202528/03/2025US$0.83
Dividend05/12/202420/12/2024US$0.75
Dividend12/09/202427/09/2024US$0.75
Dividend06/06/202421/06/2024US$0.75
Dividend13/03/202428/03/2024US$0.75
Dividend29/11/202315/12/2023US$0.70
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend06/09/202322/09/2023US$0.70
Dividend31/05/202316/06/2023US$0.70
Dividend08/03/202324/03/2023US$0.70
Dividend30/11/202216/12/2022US$0.65
Dividend07/09/202223/09/2022US$0.65
Dividend01/06/202217/06/2022US$0.65
Dividend15/03/202231/03/2022US$0.65
Dividend01/12/202117/12/2021US$0.58
Dividend01/09/202117/09/2021US$0.58
Dividend02/06/202118/06/2021US$0.58
Dividend10/03/202126/03/2021US$0.58
Dividend02/12/202018/12/2020US$0.55
Dividend02/09/202018/09/2020US$0.55
Dividend03/06/202019/06/2020US$0.55
Dividend04/03/202020/03/2020US$0.55
Dividend04/12/201920/12/2019US$0.51
Dividend04/09/201920/09/2019US$0.51
Dividend05/06/201921/06/2019US$0.51
Dividend06/03/201922/03/2019US$0.51
Dividend28/11/201814/12/2018US$0.47
Dividend05/09/201821/09/2018US$0.47
Dividend06/06/201822/06/2018US$0.47
Dividend07/03/201823/03/2018US$0.47
Dividend29/11/201715/12/2017US$0.43
Dividend06/09/201722/09/2017US$0.43
Dividend06/06/201723/06/2017US$0.43
Dividend07/03/201724/03/2017US$0.43
Dividend29/11/201616/12/2016US$0.41

About Waste Management

Sector
Transportation and utilities

Questions about WM

How much is WM today?

WM is at US$201.90 (-0.99% on the day), last traded on 01/10/2026.

How much did WM pay in dividends in 2025?

WM paid US$3.30 per share in 2025, a dividend yield of 1.50%.

What are the P/E and P/B of WM?

WM trades at a P/E of 28.29 and a P/B of 8.13.

How much did WM return in 12 months?

WM returned 2.92% in 12 months, with annualised volatility of 19.02% and a largest drawdown of -14.96%.