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Waste Management, Inc. is a holding company and all operations are conducted by its subsidiaries. When the terms the Company, we, us or our are used in this document, those terms refer to Waste Management, Inc., together with its consolidated subsidiaries and consolidated variable interest entities.
17.09% operating margin is respectable but not wide. ROIC at 10.54%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 14.2%, still solid.
Net debt of $24.28B represents 8.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$25.41B
▲ +14.2% YoY
Net Income (TTM)
$2.79B
▼ -1.4% YoY
Op. Margin
17.35%
▼ -1.3pp YoY
ROIC
11.01%
▼ -1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$3.29B
▲ +30.4% YoY
Op. Cash Flow (TTM)
$6.34B
▲ +12.1% YoY
Net Debt
$22.73B
Cash & Equiv.
$158M
5Y CAGR: +10.6%
5Y CAGR: +9.1%
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