Waste Management, Inc.

WMNYSEIndustrials● Active

$216.44

$-3.96(-1.80%)

Market Cap$86.9B

P/E Ratio—

52W High$248.13

52W Low$194.11

Avg Volume2.1M

Open$219.00

Beta0.46

Free Cash Flow Financials Revenue

Waste Management, Inc. (WM) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

WM · free cash flow · updated Jun 8, 2026

Core FCF metrics

WM · FCF · TTM · margin & CAGR

Free cash flow was $2.82B for FY2025 (fiscal year ending 2025-12-31), up 30.4% year-over-year The FCF margin was 11.2%. Five-year CAGR stands at +9.7%.

FY2025 Free Cash Flow$2.82B▲ +30.4% YoY

Trailing 12M (TTM)$3.29Btrailing 4 quarters sum

FCF Margin11.2%$2.82B ÷ revenue

3-Year CAGR+13.1%FY2022 → FY2025

5-Year CAGR+9.7%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

WM · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$6.04B(3.23B)$2.82B▲ +30.4%11.2%

FY2024$5.39B(3.23B)$2.16B▲ +18.4%9.8%

FY2023$4.72B(2.90B)$1.82B▼ 6.4%8.9%

FY2022$4.54B(2.59B)$1.95B▼ 19.9%9.9%

FY2021$4.34B(1.90B)$2.43B▲ +37.4%13.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

WM · P/FCF · FCF yield · FCF per share

Waste Management, Inc. (WM) trades at a FCF yield of 3.73% and a price-to-free-cash-flow ratio of 26.5x. FCF per share stands at $8.17, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.73%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$8.17

TTM FCF ÷ Shares Outstanding

Price / FCF

x26.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x33.7

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

WM · cash flow statement · operating / investing / financing

For FY2025, Waste Management, Inc. generated $6.04B in operating cash flow and spent 3.23B in capital expenditures, yielding $2.82B in free cash flow.

Operating Activities

+$6.04B

Cash from core business operations

2025-12-31

Investing Activities

−$3.57B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$2.67B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($6.04B) − |CapEx| (3.23B) = FCF ($2.82B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

WM vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Waste Management, Inc.YOU

$2.82B+30.4%11.2%

27%

Space Exploration Technologies Corp.

SPCX

−$13.95B-159.0%-74.7%

Loss

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Waste Management, Inc. (WM) reported free cash flow of $2.82B for FY2025 (fiscal year ending 2025-12-31), up 30.4% year-over-year. The FCF margin was 11.2%.

Based on available data, Waste Management, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $2.82B in FY2025. The 5-year CAGR stands at +9.7%.

Waste Management, Inc.'s FCF yield is 3.73% and price-to-FCF ratio is 26.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

WM free cash flow · 8 questions

Waste Management, Inc. free cash flow was $2.82B for FY2025, up 30.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $3.29B.

WM free cash flowWM FCFWM FCF 2025WM free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Waste Management, Inc. · Waste Management, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026