Waste Management Inc
wm.comWhat Do They Do?
Provides waste collection, transfer and disposal services; recycling and landfill-gas energy; and healthcare waste and secure information services to households, municipalities and businesses.
10-K for FY2025, filed Feb 9, 2026We are North America’s leading provider of comprehensive environmental solutions, providing services throughout the United States (“U.S.”)…View ↗
Collection. Our commitment to customers begins with a vast waste collection network. Collection involves picking up and transporting waste…View ↗
Our Recycling Processing and Sales segment includes the processing and sales of materials collected from residential, commercial and…View ↗
Our Healthcare Solutions revenue is primarily generated from (i) RWCS, which provide collection, processing and disposal of regulated and…View ↗
For most residential collection services, we have a contract with, or a franchise granted by, a municipality, homeowners’ association or…View ↗
How Do They Make Money?
Collection and disposal customers pay for service as waste is collected or deposited, with fees tied to pickup frequency and waste type and weight or volume. Recycling earns tipping fees and commodity sales; Renewable Energy sells gas, fuel credits and electricity; healthcare customers pay contract rates or by waste volume, weight and type.
10-K for FY2025, filed Feb 9, 2026Revenue RecognitionView ↗
Our Collection and Disposal operating revenues are primarily generated from fees charged for our collection, transfer and disposal.…View ↗
Recycling Processing and Sales revenues generally consist of tipping fees and the sale of recycling commodities to and/or on behalf of…View ↗
Our Renewable Energy revenue is primarily generated from (i) the sale of captured and converted landfill methane gas; (ii) the sale of RINs…View ↗
Our Healthcare Solutions revenue is primarily generated from (i) RWCS, which provide collection, processing and disposal of regulated and…View ↗
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10-K for FY2025, filed Feb 9, 2026
FY2025 revenue by product or service ↗
$25.2B
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10-K for FY2025, filed Feb 9, 2026
$25.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Collection and Disposal
Recurring
10-K for FY2025, filed Feb 9, 2026 |
101% |
Collection and Disposal, FY2025
$25.5B Sources
|
Recurring |
|
Recycling Processing and Sales
|
7.4% |
Recycling Processing and Sales, FY2025
$1.9B Sources
|
|
|
Renewable Energy
Sold outright
|
1.9% |
Renewable Energy, FY2025
$481M Sources
|
Sold outright |
|
Healthcare Solutions
|
12% |
Healthcare Solutions, FY2025
$3B Sources
|
Who Are Their Customers?
Municipalities and homeowners’ associations arrange residential routes, while residents can subscribe directly. Commercial and industrial customers use collection agreements; healthcare customers include hospitals, care providers, labs and research centers.
10-K for FY2025, filed Feb 9, 2026For most residential collection services, we have a contract with, or a franchise granted by, a municipality, homeowners’ association or…View ↗
For commercial and industrial collection services, typically we have three-year service agreements. The fees under the agreements are…View ↗
Our Healthcare Solutions customers are primarily in the following industries: enterprise healthcare (i.e., hospitals, health systems and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 11 cents of every revenue dollar as net income in FY2025 and turned 11 cents into free cash flow.
10-K for FY2025, filed Feb 9, 2026
$4.3BView ↗
10-K for FY2025, filed Feb 9, 2026
$2.7BView ↗
10-K for FY2025, filed Feb 9, 2026
$2.8BView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 29, 2026
Open tableView ↗
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Aug 26, 2026
Jim Fish plans to retire as CEO; John Morris named successor
Fish plans to leave the CEO and board roles effective January 4, 2027; Morris is set to become CEO and join the board then.
Sources
8-K, filed Aug 26, 2026
On August 24, 2026, James C. Fish, Jr. notified the Board of Directors (the “Board”) of Waste Management, Inc. (the “Company”) of his…View ↗
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Jul 28, 2026
WM reduced its 2026 revenue outlook
Expected 2026 revenue was reduced by approximately 0.6%, while the company kept its original profitability and cash flow targets.
Sources
8-K, filed Jul 28, 2026
With two quarters of the year complete, the Company remains confident in its ability to deliver its full-year outlook for adjusted…View ↗
Growing. Revenue grew 41% in 4 years, from $17.9B in FY2021 to $25.2B in FY2025, about 9% a year.
Healthcare services added
The earlier business description centered on solid-waste services, recycling and landfill-gas energy; the latest also includes regulated-waste and compliance services and secure information destruction following Stericycle’s acquisition.
10-K for FY2022, filed Feb 7, 2023 10-K for FY2025, filed Feb 9, 2026We are North America’s leading provider of comprehensive environmental solutions, providing services throughout the United States (“U.S.”)…View ↗
We are North America’s leading provider of comprehensive environmental solutions, providing services throughout the United States (“U.S.”)…View ↗
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