Waste Management

Waste Management · Industrials

Price

$239.31

-2.94 (-1.21%)

Market Cap

$96.10B

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−4.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 422.9M (2021) → 404.2M (2025)

Waste Management, Inc. collects, hauls, and disposes of trash and recycling for millions of homes, businesses, and cities across North America. The company runs a massive network of garbage trucks, transfer stations, landfills, and recycling facilities. It is the largest waste management company in the United States.

The company makes money by charging customers regular fees to pick up and dispose of their waste — similar to a subscription. It operates primarily in the U.S. and Canada, and its size gives it a strong competitive advantage because building new landfills is extremely difficult due to regulations and local opposition. The main growth driver is expanding its recycling and renewable energy business, which converts landfill gas into usable energy, but the company also faces risk from rising fuel and labor costs that can squeeze its profit margins.

Winston Score History

Politician Trades

21 trades / 12mo

12 Congressional buys and 9 sells on WM in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+13.3% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

0.3%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$158M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Waste Management is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

40.7%

Healthy — 40.7% gross margin

Operating Margin

17.9%

Healthy — 17.9% operating margin

ROCE

3.4%

Weak — 3.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+10.9%

Steady sales growth (10.9% YoY)

EPS YoY

+4.1%

Modest earnings growth (4.1% YoY)

Single-digit earnings growth — steady but not exciting.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

227%

Turns 227% of profit into real cash

FCF Margin

12.9%

Converts sales into free cash efficiently (12.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

2.28

Heavy debt load (2.28)

Interest Cover

5.18x

Adequate interest coverage (5.2x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

34.5x

Pricey — P/E 34.5

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+10.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (34.5 → 23.7)

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Dividends

Dividend Yield

1.50%

Small dividend — 1.50% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+12.4%

Dividend growing fast (12.4% YoY)

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