Waste Management, Inc. (WM) quarterly cash flow statement — complete operating, investing & financing history
Waste Management, Inc. (WM) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 1.73B | 1.5B | 1.7B | 1.59B | 1.54B | 1.21B | 1.51B | 1.36B | 1.15B | 1.37B | 1.38B | 1.26B | 1.03B | 1.04B | 1.05B | 1.18B | 1.05B | 1.26B | 991M | 1.18B |
| Operating CF Margin % | 25.82% | 24.1% | 26.9% | 24.71% | 24.03% | 20.07% | 25.64% | 24.21% | 21.36% | 26.5% | 26.49% | 24.3% | 20.12% | 21.34% | 21.26% | 23.29% | 20.83% | 26.99% | 21.18% | 25.38% |
| Operating CF Growth % | 11.72% | 24.25% | 12.38% | 17.23% | 33.88% | -11.63% | 9.33% | 7.52% | 12.04% | 30.94% | 31.74% | 6.85% | -1.62% | -17.01% | 5.85% | -0.17% | 0.38% | 12.32% | 31.61% | 15.06% |
| Net Income | 786M | 723M | 742M | 603M | 727M | 637M | 597M | 760M | 680M | 708M | 469M | 662M | 613M | 532M | 500M | 639M | 587M | 514M | 506M | 539M |
| Depreciation & Amortization | 777M | 735M | 806M | 764M | 891M | 473M | 437M | 591M | 576M | 547M | 335M | 331M | 333M | 327M | -209M | 503M | 508M | 482M | 510M | 517M |
| Stock-Based Compensation | -52M | 52M | 0 | 0 | -100M | 51M | 34M | 27M | 27M | 30M | 22M | 24M | 21M | 26M | 13M | 20M | 26M | 25M | 27M | 36M |
| Deferred Taxes | -112M | 112M | 122M | 162M | -59M | 59M | 59M | 51M | -43M | 57M | 14M | 38M | -11M | 42M | 102M | 11M | -53M | -11M | 14M | -24M |
| Other Non-Cash Items | 255M | 59M | 69M | 268M | -151M | 225M | 261M | -6M | 12M | 16M | 500M | 241M | 234M | 217M | 843M | 63M | 52M | 66M | 32M | 16M |
| Working Capital Changes | 72M | -180M | -41M | -205M | 237M | -237M | 123M | -65M | -98M | 9M | 42M | -33M | -160M | -100M | -200M | -54M | -73M | 182M | -98M | 100M |
| Change in Receivables | -30M | 30M | -58M | -130M | -51M | 51M | -83M | -103M | -303M | 176M | 36M | -92M | -243M | 138M | -241M | -13M | -88M | 93M | 28M | -32M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -63M | 7M | 120M | 0 | 0 | -62M | -149M | -194M | -335M | 0 |
| Change in Payables | 178M | -178M | 6M | -7M | 0 | -287M | 132M | 64M | 187M | -102M | 27M | 85M | 123M | -145M | 393M | 75M | 149M | 101M | 206M | 0 |
| Cash from Investing | -696M | -731M | -867M | -784M | -1.09B | -829M | -7.76B | -480M | -1.6B | -755M | -1.08B | -668M | -561M | -778M | -1.03B | -936M | -528M | -572M | -788M | -398M |
| Capital Expenditures | -630M | -650M | -888M | -776M | -732M | -831M | -1.11B | -781M | -667M | -668M | -1.04B | -673M | -520M | -660M | -862M | -757M | -550M | -418M | -774M | -464M |
| CapEx % of Revenue | 9.43% | 10.44% | 14.07% | 12.04% | 11.38% | 13.81% | 18.92% | 13.92% | 12.35% | 12.95% | 19.97% | 12.95% | 10.16% | 13.49% | 17.47% | 14.92% | 10.94% | 8.97% | 16.55% | 9.95% |
| Acquisitions | -85M | 0 | 13M | -29M | -363M | -3M | -6.71B | -498M | -189M | 4M | -21M | 1M | -49M | -23M | -161M | -190M | 5M | -4M | -38M | 52M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 11M | -150M | 8M | 21M | 9M | 5M | 59M | 799M | -748M | -91M | -21M | 4M | 8M | -95M | -4M | 11M | 17M | -150M | 24M | 14M |
| Cash from Financing | -631M | -821M | -843M | -1.05B | -245M | -536M | 6.06B | -439M | 273M | -737M | 1M | -606M | -600M | -319M | 175M | -984M | 228M | -635M | -214M | -876M |
| Debt Issued (Net) | 416M | -77M | -517M | -717M | 71M | -170M | 6.41B | -133M | 586M | -158M | 584M | 46M | -55M | 337M | 873M | -190M | 786M | -109M | 353M | -190M |
| Equity Issued (Net) | -653M | -318M | -1M | -50M | 25M | 25M | 11M | 6M | -8M | -218M | -315M | -370M | -270M | -378M | -439M | -545M | -271M | -284M | -350M | -481M |
| Dividends Paid | -379M | -385M | -333M | -332M | -333M | -336M | -301M | -301M | -301M | -307M | -281M | -283M | -283M | -289M | -266M | -267M | -269M | -275M | -240M | -241M |
| Share Repurchases | -659M | -344M | -1M | 0 | 0 | 0 | 0 | 0 | -12M | -250M | -312M | -370M | -270M | -350M | -439M | -541M | -270M | -250M | -350M | -500M |
| Other Financing | -15M | -41M | 8M | 50M | -8M | -55M | -65M | -11M | -4M | -54M | 13M | 1M | 8M | 11M | 7M | 18M | -18M | 33M | 23M | 36M |
| Net Change in Cash | 393M | -52M | -34M | -244M | 221M | -156M | -200M | 441M | -179M | -127M | 302M | -13M | -129M | -57M | 195M | -745M | 749M | 52M | -7M | -92M |
| Free Cash Flow | 1.1B | 851M | 810M | 816M | 813M | 377M | 396M | 577M | 487M | 699M | 340M | 590M | 510M | 384M | 187M | 425M | 497M | 840M | 217M | 720M |
| FCF Margin % | 16.4% | 13.67% | 12.83% | 12.66% | 12.64% | 6.26% | 6.72% | 10.29% | 9.02% | 13.55% | 6.52% | 11.35% | 9.96% | 7.85% | 3.79% | 8.37% | 9.89% | 18.02% | 4.64% | 15.43% |
| FCF Growth % | 34.81% | 125.73% | 104.55% | 41.42% | 66.94% | -46.07% | 16.47% | -2.2% | -4.51% | 82.03% | 81.82% | 38.82% | 2.62% | -54.29% | -13.82% | -40.97% | -23.18% | -1.18% | -39.55% | 4.96% |
| FCF per Share | 2.72 | 2.10 | 2.00 | 2.02 | 2.01 | 0.93 | 0.98 | 1.43 | 1.21 | 1.73 | 0.84 | 1.45 | 1.25 | 0.94 | 0.45 | 1.03 | 1.19 | 2.01 | 0.52 | 1.71 |
| FCF Conversion (FCF/Net Income) | 2.20x | 2.08x | 2.29x | 2.64x | 2.13x | 1.90x | 2.53x | 1.79x | 1.70x | 1.93x | 2.80x | 1.90x | 1.67x | 1.96x | 2.10x | 1.85x | 1.78x | 2.45x | 1.96x | 2.20x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |