Waste Management, Inc. (WM) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 6.23B | 6.31B | 6.44B | 6.43B | 6.02B | 5.89B | 5.61B | 5.4B | 5.16B | 5.22B | 5.2B | 5.12B | 4.89B | 4.93B | 5.08B | 5.03B | 4.66B | 4.68B | 4.67B | 4.48B |
| Revenue Growth % | 3.47% | 7.13% | 14.87% | 19.03% | 16.65% | 12.96% | 7.91% | 5.53% | 5.46% | 5.71% | 2.42% | 1.83% | 4.96% | 5.49% | 8.79% | 12.31% | 13.35% | 15.02% | 20.82% | 25.7% |
| Cost of Goods Sold | 3.69B | 4.46B | 4.56B | 4.55B | 4.3B | 4.21B | 3.96B | 3.83B | 3.65B | 3.67B | 3.71B | 3.71B | 3.59B | 3.64B | 3.66B | 3.65B | 3.38B | 3.46B | 3.42B | 3.24B |
| COGS % of Revenue | 59.32% | 70.7% | 70.81% | 70.72% | 71.5% | 71.36% | 70.55% | 70.97% | 70.83% | 70.39% | 71.32% | 72.42% | 73.41% | 73.72% | 72.1% | 72.61% | 72.62% | 74.07% | 73.38% | 72.3% |
| Gross Profit | 2.53B | 1.85B | 1.88B | 1.88B | 1.72B | 1.69B | 1.65B | 1.57B | 1.5B | 1.54B | 1.49B | 1.41B | 1.3B | 1.3B | 1.42B | 1.38B | 1.28B | 1.21B | 1.24B | 1.24B |
| Gross Margin % | 40.68% | 29.3% | 29.19% | 29.28% | 28.5% | 28.64% | 29.45% | 29.03% | 29.17% | 29.61% | 28.68% | 27.58% | 26.59% | 26.28% | 27.9% | 27.39% | 27.38% | 25.93% | 26.62% | 27.7% |
| Gross Profit Growth % | 47.7% | 9.6% | 13.86% | 20.09% | 13.95% | 9.26% | 10.8% | 11.05% | 15.68% | 19.12% | 5.3% | 2.54% | 1.96% | 6.93% | 14.01% | 11.05% | 13.32% | 7.25% | 11.89% | 28.23% |
| Operating Expenses | 1.42B | 674M | 665M | 696M | 687M | 747M | 525M | 501M | 491M | 513M | 470M | 467M | 476M | 487M | 473M | 487M | 491M | 492M | 469M | 445M |
| OpEx % of Revenue | 22.8% | 10.68% | 10.32% | 10.82% | 11.42% | 12.68% | 9.36% | 9.27% | 9.52% | 9.83% | 9.04% | 9.12% | 9.73% | 9.87% | 9.32% | 9.69% | 10.53% | 10.52% | 10.05% | 9.94% |
| Selling, General & Admin | 707M | 674M | 665M | 696M | 687M | 747M | 525M | 501M | 491M | 513M | 470M | 467M | 476M | 487M | 473M | 487M | 491M | 492M | 469M | 445M |
| SG&A % of Revenue | 11.35% | 10.68% | 10.32% | 10.82% | 11.42% | 12.68% | 9.36% | 9.27% | 9.52% | 9.83% | 9.04% | 9.12% | 9.73% | 9.87% | 9.32% | 9.69% | 10.53% | 10.52% | 10.05% | 9.94% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 1.11B | 1.18B | 1.22B | 1.19B | 1.03B | 941M | 1.13B | 1.07B | 1.01B | 1.03B | 1.02B | 945M | 825M | 810M | 943M | 890M | 785M | 721M | 773M | 795M |
| Operating Margin % | 17.87% | 18.63% | 18.87% | 18.46% | 17.08% | 15.97% | 20.09% | 19.75% | 19.66% | 19.78% | 19.64% | 18.46% | 16.86% | 16.41% | 18.58% | 17.7% | 16.84% | 15.41% | 16.57% | 17.76% |
| Operating Income Growth % | 8.27% | 24.97% | 7.9% | 11.25% | 1.38% | -8.82% | 10.38% | 12.91% | 22.91% | 27.41% | 8.27% | 6.18% | 5.1% | 12.34% | 21.99% | 11.95% | 17.52% | 16.1% | 11.38% | 34.75% |
| EBITDA | 1.85B | 1.95B | 1.95B | 1.93B | 1.72B | 1.63B | 1.72B | 1.64B | 1.56B | 1.59B | 1.57B | 1.5B | 1.36B | 1.38B | 1.48B | 1.43B | 1.29B | 1.26B | 1.32B | 1.32B |
| EBITDA Margin % | 29.68% | 30.83% | 30.19% | 30.03% | 28.56% | 27.61% | 30.63% | 30.41% | 30.26% | 30.5% | 30.24% | 29.28% | 27.84% | 28.02% | 29.06% | 28.35% | 27.78% | 26.93% | 28.27% | 29.54% |
| EBITDA Growth % | 7.5% | 19.61% | 13.21% | 17.53% | 10.12% | 2.26% | 9.29% | 9.61% | 14.61% | 15.04% | 6.58% | 5.19% | 5.17% | 9.76% | 11.83% | 7.79% | 11.06% | 16.13% | 15.8% | 28.47% |
| D&A (Non-Cash Add-back) | 735M | 770M | 729M | 744M | 691M | 686M | 591M | 576M | 547M | 559M | 551M | 554M | 537M | 573M | 532M | 535M | 510M | 539M | 546M | 527M |
| EBIT | 1.11B | 1.16B | 1B | 1.16B | 1.02B | 901M | 1.13B | 1.03B | 999M | 772M | 999M | 934M | 816M | 752M | 919M | 869M | 756M | 725M | 793M | 554M |
| Net Interest Income | -225M | -223M | -225M | -232M | -232M | -201M | -131M | -136M | -130M | -128M | -127M | -125M | -120M | -109M | -91M | -93M | -85M | -83M | -87M | -98M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 225M | 223M | 225M | 232M | 232M | 201M | 131M | 136M | 130M | 128M | 127M | 125M | 120M | 109M | 91M | 93M | 85M | 83M | 87M | 98M |
| Other Income/Expense | -222M | -241M | -441M | -259M | -240M | -241M | -132M | -173M | -145M | -388M | -149M | -136M | -129M | -167M | -115M | -114M | -114M | -79M | -67M | -339M |
| Pretax Income | 891M | 935M | 775M | 928M | 788M | 700M | 995M | 894M | 869M | 644M | 872M | 809M | 696M | 643M | 828M | 776M | 671M | 642M | 706M | 456M |
| Pretax Margin % | 14.31% | 14.81% | 12.03% | 14.43% | 13.09% | 11.88% | 17.74% | 16.55% | 16.84% | 12.34% | 16.78% | 15.8% | 14.23% | 13.03% | 16.32% | 15.44% | 14.4% | 13.72% | 15.13% | 10.19% |
| Income Tax | 168M | 193M | 172M | 201M | 151M | 102M | 235M | 214M | 162M | 175M | 210M | 196M | 164M | 143M | 189M | 189M | 157M | 136M | 167M | 105M |
| Effective Tax Rate % | 18.86% | 20.64% | 22.19% | 21.66% | 19.16% | 14.57% | 23.62% | 23.94% | 18.64% | 27.17% | 24.08% | 24.23% | 23.56% | 22.24% | 22.83% | 24.36% | 23.4% | 21.18% | 23.65% | 23.03% |
| Net Income | 723M | 742M | 603M | 726M | 637M | 598M | 760M | 680M | 708M | 493M | 663M | 615M | 533M | 499M | 639M | 587M | 513M | 506M | 538M | 351M |
| Net Margin % | 11.61% | 11.75% | 9.36% | 11.29% | 10.58% | 10.15% | 13.55% | 12.59% | 13.72% | 9.45% | 12.75% | 12.01% | 10.9% | 10.11% | 12.59% | 11.68% | 11.01% | 10.82% | 11.53% | 7.84% |
| Net Income Growth % | 13.5% | 24.08% | -20.66% | 6.76% | -10.03% | 21.3% | 14.63% | 10.57% | 32.83% | -1.2% | 3.76% | 4.77% | 3.9% | -1.38% | 18.77% | 67.24% | 21.85% | 15.53% | 37.95% | 14.33% |
| Net Income (Continuing) | 723M | 742M | 603M | 727M | 637M | 598M | 760M | 680M | 707M | 469M | 662M | 613M | 532M | 500M | 639M | 587M | 514M | 506M | 539M | 351M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1M | 1M | 1M | 1M | 1M | 2M | -7M | -6M | -4M | -7M | 16M | 19M | 14M | 15M | 2M | 2M | 2M | 2M | 2M | 2M |
| EPS (Diluted) | 1.79 | 1.83 | 1.49 | 1.80 | 1.58 | 1.48 | 1.88 | 1.69 | 1.75 | 1.22 | 1.63 | 1.51 | 1.30 | 1.21 | 1.54 | 1.41 | 1.23 | 1.20 | 1.28 | 0.83 |
| EPS Growth % | 13.29% | 23.65% | -20.74% | 6.51% | -9.71% | 21.31% | 15.34% | 11.92% | 34.62% | 0.83% | 5.84% | 7.09% | 5.69% | 0.83% | 20.31% | 69.88% | 24.24% | 16.5% | 39.13% | 15.28% |
| EPS (Basic) | 1.79 | 1.84 | 1.50 | 1.80 | 1.58 | 1.49 | 1.89 | 1.70 | 1.76 | 1.23 | 1.64 | 1.52 | 1.31 | 1.22 | 1.55 | 1.42 | 1.23 | 1.21 | 1.28 | 0.83 |
| Diluted Shares Outstanding | 404.4M | 404.5M | 404.3M | 404.3M | 403.9M | 403.6M | 403.2M | 403.2M | 403.5M | 404.2M | 405.9M | 407.7M | 409M | 411.5M | 414.3M | 416.4M | 417.8M | 420.6M | 422M | 423.6M |
| Basic Shares Outstanding | 403.2M | 403.1M | 403M | 402.6M | 402.3M | 401.6M | 401.5M | 401.3M | 401.7M | 402M | 404M | 405.9M | 407.4M | 409.2M | 412M | 414.4M | 415.7M | 417.9M | 419.5M | 421.6M |
| Dividend Payout Ratio | 53.25% | 44.88% | 55.06% | 45.87% | 52.75% | 50.33% | 39.61% | 44.26% | 43.36% | 57% | 42.68% | 46.02% | 54.22% | 53.31% | 41.78% | 45.83% | 53.61% | 47.43% | 44.8% | 68.95% |