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Waste Management cash flow statement

In fiscal 2025, Waste Management's operations generated $6.04bn of cash; it spent $3.23bn on capital projects, leaving free cash flow of $2.82bn. It returned $1.33bn in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations2,3622,2752,4692,2952,4552,3312,5283,0033,1803,5703,8743,4034,3384,5364,7195,3906,0436,565
Depreciation and amortisation1,1661,1941,2291,2971,3331,2921,2451,3011,3761,4771,5741,6711,9992,0382,0712,2672,8632,968
Stock-based pay30364529586572901018986941088493118169173
Capital spending1,1791,1041,3241,5101,2671,1811,2291,3471,5681,6711,8151,5852,0392,8092,8953,2313,2272,825
Free cash flow1,1831,1711,1457851,1881,1501,2991,6561,6121,8992,0591,8182,2991,7271,8242,1592,8163,740
Free cash flow after stock pay1,1531,1351,1007561,1301,0851,2271,5661,5111,8101,9731,7242,1911,6431,7312,0412,6473,567
Dividends paid5696046376586836936957267508028769279701,0771,1361,2101,3341,474
Share buybacks226501575—2396006007257501,0042484021,3501,5001,302262——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Waste Management's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Waste Management.