Waste Management income statement

In fiscal 2025, Waste Management reported revenue of $25.20bn, up 14.2% on the year before, operating income of $4.31bn (a 17.1% margin) and net income of $2.71bn, or $6.70 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Waste Management: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Revenue	11.8	12.5	13.4	13.6	14.0	14.0	13.0	13.6	14.5	14.9	15.5	15.2	17.9	19.7	20.4	22.1	25.2	26.1
Cost of revenue	—	—	—	8.9	9.1	9.0	8.2	8.5	9.0	9.2	9.5	9.3	11.1	12.3	12.6	13.4	15.0	15.5
Gross profit	—	—	—	4.8	4.9	5.0	4.7	5.1	5.5	5.7	6.0	5.9	6.8	7.4	7.8	8.7	10.2	10.5
Selling, general and administrative	1.4	1.5	1.6	1.5	1.5	1.5	1.3	1.4	1.5	1.5	1.6	1.7	1.9	1.9	1.9	2.3	2.7	2.7
Operating income	1.9	2.1	2.0	1.9	1.1	2.3	2.0	2.3	2.6	2.8	2.7	2.4	3.0	3.4	3.6	4.1	4.3	4.8
Interest expense	0.4	0.5	0.5	0.5	0.5	—	—	—	—	—	—	—	—	—	—	—	—	—
Net interest income	—	—	—	−0.5	−0.5	−0.5	−0.4	—	—	—	—	—	—	—	—	—	—	—
Income before tax	1.5	1.6	1.5	1.3	0.5	1.8	1.1	1.8	2.2	2.4	2.1	1.9	2.3	2.9	3.0	3.5	3.4	3.9
Income tax	0.4	0.6	0.5	0.4	0.4	0.4	0.3	0.6	0.2	0.5	0.4	0.4	0.5	0.7	0.7	0.7	0.7	0.8
Net income	1.0	1.0	1.0	0.8	0.1	1.3	0.8	1.2	1.9	1.9	1.7	1.5	1.8	2.2	2.3	2.7	2.7	3.1
Diluted EPS	$2.01	$1.98	$2.04	$1.76	$0.21	$2.79	$1.65	$2.65	$4.41	$4.45	$3.91	$3.52	$4.29	$5.39	$5.66	$6.81	$6.70	$7.62
Diluted shares (average)	494m	482m	471m	464m	470m	466m	456m	447m	442m	432m	428m	425m	423m	415m	407m	403m	404m	403m
EBITDA	3.1	3.3	3.3	3.1	2.4	3.6	3.3	3.6	4.0	4.3	4.3	4.1	5.0	5.4	5.6	6.3	7.2	7.8

US$ millions unless shown otherwise. Fiscal quarters.

Waste Management: income statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Revenue	5,893	6,018	6,430	6,443	6,313	6,227	6,684	6,846
Cost of revenue	3,553	3,612	3,803	3,798	3,799	3,694	3,955	4,093
Gross profit	2,340	2,406	2,627	2,645	2,514	2,533	2,729	2,753
Selling, general and administrative	747	687	696	665	674	707	683	655
Operating income	919	1,013	1,151	989	1,155	1,113	1,253	1,279
Income before tax	700	788	928	775	935	891	1,024	1,044
Income tax	102	151	201	172	193	168	238	224
Net income	598	637	726	603	742	723	785	820
Diluted EPS	$1.48	$1.58	$1.80	$1.49	$1.83	$1.79	$1.95	$2.05
EBITDA	1,571	1,704	1,859	1,718	1,819	1,848	2,030	2,071

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

Compare with peers

Head to head: RSG vs WM WCN vs WM ABM vs WM

More: Environmental & Facilities Services stocks compared, Industrials sector, rankings of US companies

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.