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Waste Management WM Q4 2025 Annual earnings

Reported January 28, 2026 · After market close

Revenue$6.3BMiss by $73.6M
EPS$1.93Miss by $0.02
Revenue estimate$6.4B
EPS estimate$1.95

Next report

Oct 27, 2026 (In 3 weeks)
Revenue estimate$6.8B
EPS estimate$2.19

Financials

Q4 2025

Income statement

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Revenue$6.3B+7.1%
Gross profit$2.6B+12.0%
Operating income$1.2B+25.7%
Net income$742.0M+24.1%
EPS (diluted)$1.83+23.6%

Balance sheet

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Cash & equivalents$201.0M-51.4%
Total debt$24.5B+1,546%
Total equity$10.0B+21.1%
Total assets$45.8B+2.8%

Cash flow

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Operating cash flow$1.7B+12.4%
CapEx$888.0M-20.4%
Free cash flow$810.0M+105%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$88.51B+9.3%
Enterprise value$112.79B+37.4%
P/E32.7×+3.2×
P/S3.5×-0.2×

Profitability

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Gross margin40.4%+1.1pp
Operating margin17.1%-1.3pp
Net margin10.7%-1.7pp
FCF margin11.2%+1.4pp

Returns & leverage

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Return on equity29.7%-6.5pp
Debt / equity2.5×+2.3×
Current ratio0.9×+0.1×

Segments

By product

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Commercial$1.7B+5.6%
Landfill$1.3B+5.9%
Industrial$994.0M+2.7%
Residential$903.0M+0.8%
Other Collection$886.0M+5.5%

By segment

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Healthcare Solutions$732.0M+609%
Recycling Processing And Sales$449.0M-5.7%
Renewable Energy$158.0M+69.9%
Corporate And Other$13.0M+8.3%

By geography

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Western Europe And Other Countries$81.5M+213%

FAQ

When did Waste Management report Q4 2025 earnings?
Waste Management (WM) reported Q4 2025 earnings on January 28, 2026 after market close.
What were Waste Management's Q4 2025 revenue and EPS?
Waste Management reported revenue of $6.3B and eps of $1.93 for Q4 2025.
Did Waste Management beat estimates in Q4 2025?
Revenue missed the consensus estimate of $6.4B by $73.6M. EPS missed the consensus estimate of $1.95 by $0.02.
How did Waste Management's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.1% from $5.9B a year earlier and eps grew 13.5% from $1.70.
Where can I find Waste Management's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001104659-26-007476) and the 10-K periodic report (0001104659-26-012049) directly on SEC EDGAR. The filing index links above go to sec.gov.