Waste Management, Inc.
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total revenue (FY2025) | $25.20 billion, up 14.2% year-over-year (partly inorganic from the Stericycle acquisition) |
| Net income (FY2025) | $2.71 billion |
| Diluted EPS (FY2025) | $6.70 |
| Consolidated operating margin (FY2025) | 17.1% GAAP, down from 18.4% in FY2024 |
| Recycling Processing and Sales segment loss (FY2025) | $(80) million operating loss |
| WM Healthcare Solutions segment loss (FY2025) | $(88) million operating loss, largely acquisition-related amortization |
| Adjusted Operating EBITDA (FY2025) | $7.58 billion |
| Free cash flow, non-GAAP (FY2025) | $2.94 billion |
| Total debt (as of December 31, 2025) | $22.91 billion |
| Employees (as of December 31, 2025) | approximately 60,500 |
Sources: WM acquired Stericycle (now the WM Healthcare Solutions segment) on November 4, 2024, so FY2024 Healthcare Solutions revenue reflects less than two months of ownership versus a full year in FY2025 -- the segment's reported growth is substantially inorganic. Two segments, Recycling Processing and Sales and WM Healthcare Solutions, posted GAAP operating losses in FY2025 ($(80) million and $(88) million respectively, largely acquisition-related amortization); both are excluded from the operating-income pie and shown in the KPI table instead. No credible, dated, specifically-sourced third-party market-share estimate was found for WM; a market-share widget is therefore omitted. FY2021-FY2022 revenue figures are from a third-party aggregator (stockanalysis.com); FY2023-FY2025 are exact, primary-sourced figures from WM's own 10-K.