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Screener / SEC EDGAR /CIK 0000823768 /10-K filed Feb 9, 2026, compared with Feb 19, 2025 /Numbers from the XBRL of the 10-Ks
Industrials peers:
UNPJCIWMMMMPCARTT
NYSE Industrials · Waste Management

Waste Management WM

WM quote by TradingView

Waste Management, Inc. is a holding company and all operations are conducted by its subsidiaries. 10-K, Item 1

Employees
60,500
Headquarters
Houston, TX
Next results
around Jan 27, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $25.2B through the costs to a net profit of $2.7B · income statement of the 10-K

17% operating margin
Revenue to Gross profit: $10.2BRevenue to Cost of revenue: $15.0BGross profit to Operating profit: $4.3BGross profit to Operating expenses: $5.9BOperating profit to Net profit: $2.7BOperating profit to Tax & other: $1.6B Revenue: $25.2B REVENUE $25.2B +14% Y/Y Gross profit: $10.2B · 40% margin GROSS PROFIT $10.2B 40% margin Cost of revenue: $15.0B · 60% of revenue COST OF REVENUE $15.0B 60% of revenue Operating profit: $4.3B · 17% margin OPERATING PROFIT $4.3B 17% margin · +6% Y/Y Operating expenses: $5.9B · 23% of revenue OPERATING EXPENSES $5.9B 23% of revenue Net profit: $2.7B · 11% margin NET PROFIT $2.7B 11% margin · −1% Y/Y Tax & other: $1.6B · 6% of revenue TAX & OTHER $1.6B 6% of revenue
Gross profit $10.2B 40% margin
Operating profit $4.3B 17% margin · +6% Y/Y
Net profit $2.7B 11% margin · −1% Y/Y
The full income statement, year by year

WM among Industrials peers

Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.

Compare
Revenue growth: 14.2%, above 86% of 81 peers (their median 4.6%) REVENUE GROWTH 14.2% · above 86% Gross margin: 40.4%, above 65% of 51 peers (their median 38.1%) GROSS MARGIN 40.4% · above 65% Operating margin: 18.4%, above 58% of 71 peers (their median 17.5%) OPERATING MARGIN 18.4% · above 58% Net margin: 11.8%, above 44% of 81 peers (their median 13.0%) NET MARGIN 11.8% · above 44% FCF margin: 14.3%, above 55% of 78 peers (their median 13.0%) FCF MARGIN 14.3% · above 55% Return on capital: 10.2%, above 32% of 65 peers (their median 14.2%) RETURN ON CAPITAL 10.2% · above 32%
WM Peer median Below the median

What changed

5 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 9, 2026 against Feb 19, 2025.

Risk factors
5 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Critical audit matters changed
New this year: Goodwill Impairment Assessment - Healthcare Solutions Segment (“At December 31, 2025, the Company’s goodwill related to the Healthcare Solutions segment totaled $3.8 billion. As discussed in Note 2 and Note 5 of the consolidated financial statements, goodwill is tested for impairment at least annually on October 1 at the reporting unit level, or more frequently ”). No longer listed: Acquisition of Stericycle, Inc. – Valuation of Customer Relationships. Same as last year: Landfill Depletion Expense; Landfill – Final Capping, Closure and Post-Closure Costs
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Critical audit matters changed
    New this year: Goodwill Impairment Assessment - Healthcare Solutions Segment (“At December 31, 2025, the Company’s goodwill related to the Healthcare Solutions segment totaled $3.8 billion. As discussed in Note 2 and Note 5 of the consolidated financial statements, goodwill is tested for impairment at least annually on October 1 at the reporting unit level, or more frequently ”). No longer listed: Acquisition of Stericycle, Inc. – Valuation of Customer Relationships. Same as last year: Landfill Depletion Expense; Landfill – Final Capping, Closure and Post-Closure Costs
  • Receivables +5.0% vs revenue +14.2% (-9.3 pts)
8 more checks with nothing to note
  • Cash from operations $6.0B vs net income $2.7B (FY ending Dec 31, 2025)
  • Same auditor in both 10-Ks: ERNST & YOUNG LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

5 paragraphs in Risk Factors that were not in the 10-K filed Feb 19, 2025. Quoted as filed.

All 5 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    Expansion of our Recycling Processing and Sales and Renewable Energy segments may introduce additional compliance and regulatory risks and additional volatility to our financial performance.
  2. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    We have set goals to reduce our GHG emissions and announced other sustainability-related goals and initiatives. We may not be able to meet such goals or implement such initiatives in the manner or on timelines contemplated due to
  3. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    The amount of insurance we are required to maintain for environmental liability is governed by statutory requirements.

New risk paragraphs, against peers

Latest 10-K of each, Industrials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$19.7B$20.4B$22.1B$25.2B
Net income$2.2B$2.3B$2.7B$2.7B
Operating cash flow$4.5B$4.7B$5.4B$6.0B
Free cash flow$1.7B$1.8B$2.2B$2.8B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$25.2B ▲ 14.2% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Waste Management, Houston, TX · from the 10-K filed Feb 9, 2026

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. When we use the term “WMI,” we are referring only to Waste Management, Inc., the parent holding company. WMI was incorporated in Oklahoma in 1987 under the name “USA Waste Services, Inc.” and was reincorporated as a Delaware company in 1995. In a 1998 merger, the Illinois-based waste services company formerly known as Waste Management, Inc.

Headquarters
Houston, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 27, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, we had approximately 60,500 full-time employees across the U" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 9, 2026 (open at SEC), compared with the 10-K filed Feb 19, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/WM/export.csv") into a cell.