How does Waste Management (WM) make money?

Waste Management (WM) generates revenue primarily from Commercial, which accounted for 21.1% of total revenue in TTM through Q2 2026. The company reported $25.7B in revenue and converted 11.1% of it into net profit, equivalent to roughly $2.85B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Waste Management (WM)?

Waste Management (WM) reported a gross profit margin of 35% in TTM through Q2 2026, equivalent to $8.99B in gross profit on $25.7B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Waste Management (WM)?

Waste Management (WM) reported an operating profit margin of 18.5% in TTM through Q2 2026, equivalent to $4.76B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Waste Management (WM)?

Waste Management (WM) reported a net profit margin of 11.1% in TTM through Q2 2026, equivalent to $2.85B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Waste Management (WM) profitable?

Yes. Waste Management (WM) reported $2.85B in net income for TTM through Q2 2026, with a net profit margin of 11.1%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Waste Management (WM) spend on capital expenditures?

Waste Management (WM) spent $2.94B on capital expenditures (CapEx) during TTM through Q2 2026, roughly 11.5% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Waste Management (WM) generate?

Waste Management (WM) generated $3.57B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 13.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Waste Management (WM)?

Waste Management (WM) had an effective tax rate of 21.3% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Waste Management (WM)?

Waste Management (WM) reports revenue across 9 reportable product segments, led by Commercial at 21.1% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Waste Management Makes Money: 2026 Visual Revenue Map

Waste Management (WM) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 29, 2026).

Waste Management discloses geographic revenue only in annual filings. to view the full breakdown.

Waste Management (WM) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Waste Management (WM), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Commercial	$5.42B	21.1%
Landfill	$4.68B	18.2%
Industrial	$3.43B	13.4%
Other Collection	$2.82B	11%
Residential	$2.81B	10.9%
Transfer	$2.46B	9.6%
Healthcare Solutions	$2.4B	9.3%
Recycling Processing and Sales	$1.56B	6.1%
Other segments	$87.6M	0.3%
Total	$25.7B	100%

Commercial$5.42B
Landfill$4.68B
Industrial$3.43B
Other Collection$2.82B
Residential$2.81B
Transfer$2.46B
Healthcare Solutions$2.4B
Recycling Processing and Sales$1.56B
Other segments$87.6M
Total$25.7B

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Waste Management (WM) reports revenue across 9 reportable product segments; the largest segment was Commercial at 21.1%, followed by Landfill (18.2%) and Industrial (13.4%).

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