Waste Management, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $25.20B | $22.06B | $20.43B | $19.70B | $17.93B | $15.22B | $15.46B | $14.91B |
| Cost of Revenue | $15.01B | $13.38B | $12.61B | $12.29B | $11.11B | $9.34B | $9.50B | $9.25B |
| Gross Profit | $10.19B | $8.68B | $7.82B | $7.40B | $6.82B | $5.88B | $5.96B | $5.67B |
| Gross Margin | 40.4% | 39.3% | 38.3% | 37.6% | 38.0% | 38.6% | 38.6% | 38.0% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $2.72B | $2.26B | $1.93B | $1.94B | $1.86B | $1.73B | $1.63B | $1.45B |
| Operating Income | $4.31B | $4.06B | $3.58B | $3.37B | $2.97B | $2.43B | $2.71B | $2.79B |
| Operating Margin | 17.1% | 18.4% | 17.5% | 17.1% | 16.5% | 16.0% | 17.5% | 18.7% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $3.43B | $3.46B | $3.02B | $2.92B | $2.35B | $1.89B | $2.11B | $2.38B |
| Income Tax Expense | $717.0M | $713.0M | $745.0M | $678.0M | $532.0M | $397.0M | $434.0M | $453.0M |
| Net Income | $2.71B | $2.75B | $2.30B | $2.24B | $1.82B | $1.50B | $1.67B | $1.93B |
| Net Margin | 10.7% | 12.4% | 11.3% | 11.4% | 10.1% | 9.8% | 10.8% | 12.9% |
| EPS (Basic) | $6.72 | $6.84 | $5.69 | $5.42 | $4.32 | $3.54 | $3.93 | $4.49 |
| EPS (Diluted) | $6.70 | $6.81 | $5.66 | $5.39 | $4.29 | $3.52 | $3.91 | $4.45 |
| Shares Outstanding (Basic) | 402.7M | 401.5M | 404.9M | 412.8M | 420.4M | 423.0M | 424.6M | 429.1M |
| Shares Outstanding (Diluted) | 404.2M | 403.4M | 406.9M | 415.0M | 422.9M | 425.1M | 427.5M | 432.2M |
| Dividends Per Share | $3.30 | $3.00 | $2.80 | $2.60 | $2.30 | $2.18 | $2.05 | $1.86 |