WM Waste Management, Inc. Common Stock
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About Waste Management, Inc. Common Stock Company overview from Wikipedia
Waste Management, Inc., doing business as WM, is a waste management an American company operating in North America. Founded in 1968, the company is headquartered in the Bank of America Tower in Houston, Texas.
The company's network includes 337 transfer stations, 254 active landfills, 97 recycling plants, 135 landfill gas utilization projects, and six power plants. WM serves approximately 21 million residential, industrial, municipal, and commercial customers across the United States, Canada, and Puerto Rico. The company operates the industry's largest trucking fleet, with 26,000 collection and transfer vehicles. WM and its largest competitor, Republic Services, Inc., manage more than half of the garbage collection in the United States.
History
In 1893, Dutch immigrant Harm Huizenga began a garbage hauling business in Chicago, charging $1.25 per wagon. In 1968, his grandson Wayne Huizenga, along with Dean Buntrock and Larry Beck, founded Waste Management, Inc. and expanded by acquiring many of the smaller garbage collection services across the country. The company went public in 1971 and reached $82 million in revenue by 1972. At that time, it served 60,000 commercial and industrial accounts and 600,000 residential customers across 19 states and two Canadian provinces. In the 1980s, Waste Management became the largest waste hauler in the United States after acquiring Service Corporation of America (SCA).
From 1992 to 1997, executive officers at Waste Management, Inc. engaged in widespread accounting manipulation to artificially inflate the company's financial performance. This systematic effort involved mismanaged expense reports, such as refusing to write off costs from failed projects and improperly capitalizing various operating costs. The executives further distorted the balance sheet by establishing inflated environmental reserves during acquisitions to offset unrelated expenses, failing to set aside sufficient funds for income taxes, and manipulating depreciation schedules for equipment like garbage trucks. Additional tactics included assigning arbitrary salvage values to assets and utilizing "netting" and "geography" entries to obscure hundreds of millions of dollars in expenses behind unrelated gains or different income statement line items. Although leadership was accused of forcing the financial statements to meet desired targets, the top officers eventually settled with the federal government for $30.8 million in 2005 without admitting to any wrongdoing.
When a new CEO took charge of the company in 1997, he ordered a review of the company's accounting practices. In 1998 Waste Management restated its 1992–1997 earnings by $1.7 billion, making it the largest restatement in history.
In 1998, Waste Management merged with USA Waste Services, Inc. USA Waste Services CEO John E. Drury retained the chairmanship and CEO position of the combined company. Waste Management then relocated its headquarters from Chicago to Houston. The merged company retained the Waste Management brand. In late 1999, John Drury stepped down as chairman due to brain surgery. Rodney R. Proto then took the position of chairman and CEO. That year also brought trouble for the newly expanded company in the form of an accounting scandal.
In November 1999, a new CEO was appointed to oversee the company's recovery. The company has since implemented new technologies, safety standards, and operational practices.
On July 14, 2008, Waste Management made a $34 per share all-cash bid to acquire Republic Services, Inc., later raising it to $37 per share. Republic Services rejected both bids. On October 13, 2008, Waste Management withdrew the offer, citing financial market turmoil.
In 2015, Winters Brothers assumed all of WM's operations in Connecticut and New York (excluding New York City) and continues to service these regions under contract with the company.
In February 2022, CEO Jim Fish announced the company would shorten its trade name to "WM". This rebranding was intended to reflect a shift toward sustainability and environmental services, such as compressed natural gas and landfill gas utilization.
In May 2024, WM announced a $7.2 billion deal to acquire Stericycle, an Illinois-based medical waste and paper shredding company. The acquisition was completed in November 2024.
Recycling
As of 2023, WM operated 97 recycling facilities. WM has also participated in recycling-focused initiatives with other companies:
LG Electronics for electronic waste recycling
Live Nation Entertainment for recycling at sports and music venues
PepsiCo for beverage container recycling
Valero Energy for waste-to-fuel conversion technology
Enerkem for converting waste to ethanol
International
In 2009, Waste Management purchased a 40-percent stake in Shanghai Environment Group Co. Ltd. (SEG), a wholly owned subsidiary of Shanghai Chengtou Holding Co. Ltd. SEG sought the investment in order to benefit from Waste Management's experience in the waste disposal field, as well as improve their technology for waste disposal.
Corporate issues
1995 lawsuit
Shareholders sued Wheelabrator Technologies's (WTI) board of directors for breach of their fiduciary duty, challenging the merger of WTI into Waste Management. In 1995, the case, In re Wheelabrator Technologies, Inc. Shareholders Litigation, came before the Court of Chancery of Delaware on an appeal regarding the Board's motion for summary judgment. The shareholders argued the Board breached their duty of care because there was not sufficient process, they didn't look at alternative transactions, didn't consider information regarding waste's legal liabilities, they didn't appoint a committee of independent directors to negotiate the merger, and they didn't adequately consider the terms of the merger; they breached their duty of loyalty, and; they breached their duty to disclose relevant information regarding the merger. Ultimately, the court dismissed the duty of disclosure claim but allowed the duty of loyalty claim to a degree. In regards to the duty of loyalty claim, the court disagreed with both the shareholders and the Board. It labelled the merger as an interested transaction, not a controlled shareholder transaction, so the business judgment rule applies and the burden to prove waste is on the shareholders.
Accounting improprieties
Revelations of irregular accounting led to a major drop in stock price and to the replacement of top executives after a new CEO ordered a review of the company's accounting practices in 1998. Waste Management's shareholders lost more than $6 billion in the market value of their investments when the stock price plummeted by more than 33%. The company had augmented the depreciation time length for their property, plant, and equipment, artificially inflating the company's after-tax profits by US$1.7 billion. On July 8, 1999, a class action lawsuit was filed against WMI and certain officers for issuing false statements. Waste Management paid US$457 million to settle a shareholder class-action suit in 2003. The SEC fined Waste Management's independent auditor, Arthur Andersen, US$7 million for its role.
ERP software implementation failure
In 2005, Waste Management entered into a software licensing agreement (SLA) with SAP AG. Under the agreement, SAP and its wholly owned subsidiary, Tomorrow Now, were to implement SAP's enterprise resource planning software. The implementation began when an eight-month pilot program was established in Waste Management's New Mexico market area, the market-share area at the time. This initial implementation was to be followed in two months with a company-wide implementation from Waste Management's headquarters in Houston, Texas.
In December 2007, Waste Management ended their ERP implementation effort. Waste Management characterized the ERP implementation as non-functional. An SAP sponsored "Solution Review" determined that a customized ERP, based upon an updated SAP ERP, would need to be made in order to accommodate a company-wide implementation.
Waste Management sued SAP for the US$100 million to recover the funds it had spent on the failed ERP implementation. In the lawsuit, Waste Management accused SAP of fraud and deception. SAP countered that Waste Management failed to present knowledgeable workers and accurate business models and failed to migrate data from legacy systems. The suit concluded in 2010 under confidential terms and a one-time payment from SAP to Waste Management disclosed to the SEC.
Labor relations
In 2007, Waste Management locked out Teamsters at its largest hauling operation in Alameda County, CA. The lockout lasted a little less than a month and put 900 members of the Teamsters, ILWU, and Machinists Union on picket lines and raised concerns over sanitary impact on the affected communities. The lockout was stopped when affected communities started legal actions against Waste Management. According to Waste Management officials, the company worked over three months to negotiate an agreement fair to both Waste Management and the union. The union did not want to negotiate over the company's proposals and refused to offer their own proposal unless Waste Management agreed to withdraw all proposals from the table. Oakland's City Council reached a settlement with Waste Management over the dispute in March, 2008. The company rebated more than $3 million to customers and Oakland customers received additional services over the next five years.
Environmental policy and record
In 1990, the board of Waste Management adopted an environmental policy, including a policy of no-net-loss of biodiversity on the company's properties. Waste Management also took positions around that time supporting legislation on hazardous waste reduction (1988), waste export control (1989), and protection of endangered species (1992).
Waste Management's operations consist of environmental protection, groundwater protection, environmental engineering, and air and gas management. Waste Management currently operates ten full-scale waste treatment landfill projects in the U.S. and Canada. As a member of the Chicago Climate Exchange (CCX), Waste Management made a commitment during the pilot phase to reduce its greenhouse gas emissions by four percent below the average of its 1998–2001 baseline by 2006. They have also replaced nearly 500 diesel-fueled trucks with vehicles that run on 100 percent natural gas. These new garbage and recycling trucks comprise one of the nation's largest fleets of heavy-duty trucks powered exclusively by natural gas.
In November 2009, at Waste Management's Altamont Landfill, a new plant began producing 13,000 gallons a day of LNG fuel from methane gas from the landfill that had fueled an electric power plant since 1969. Waste Management has said that the plant, announced in April 2008, and built and operated by The Linde Group with state funding, is the world's largest facility to convert landfill gas into vehicle fuel.
Waste Management works with environmental groups in the U.S. to set aside land to create and manage wetlands and wildlife habitats. The company's landfills currently provide approximately 21,000 acres (85 km2) of protected land for wildlife; 73 landfills are certified by the Wildlife Habitat Council.
In May 2011, Waste Management's Wheelabrator division agreed to pay a record $7.5 million settlement with the Commonwealth of Massachusetts for a host of environmental violations at its plants in North Andover, Saugus, and Millbury, Massachusetts. The settlement was announced on May 2, 2011, by the Massachusetts Department of Environmental Protection and Attorney General Martha Coakley's office.
Financial restatements
On November 14, 1997, the company reclassified or adjusted certain items in its financial statements for 1996 and the first nine months of 1997.
On August 3, 1999, the company would have to restate first-quarter results downward, partly because of changes in the value of landfills and other
assets in connection with its acquisition last year of Wheelabrator Technologies Inc.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | WM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 33.95Y avg ≈32.4 | ≈32.4 | 28.9 | Overvalued | |
| P/S (TTM) | 3.75Y avg ≈3.5 | ≈3.5 | 3.0 | Pricier | |
| P/B (MRQ) | 9.65Y avg ≈9.6 | ≈9.6 | 5.7 | Overvalued | |
| Price / FCF (TTM) | 26.85Y avg ≈36.4 | ≈36.4 | · | · | |
| Price / Cash Flow (TTM) | 14.75Y avg ≈14.8 | ≈14.8 | 15.3 | Fair value | |
| Price / Tangible Book (MRQ) | 15.2 | · | · | · | |
| PEG Ratio | ≈2.5 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | WM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 17.6%5Y avg ≈17.5% | ≈17.5% | 15.5% | Top tier | |
| EBITDA Margin (TTM) | 29.3%5Y avg ≈28.1% | ≈28.1% | 20.0% | Weak | |
| Pretax Margin (TTM) | 14.1%5Y avg ≈14.7% | ≈14.7% | 13.4% | Top tier | |
| Net Profit Margin (TTM) | 11.1%5Y avg ≈11.5% | ≈11.5% | 9.8% | Top tier | |
| ROA (TTM) | 6.2%5Y avg ≈6.9% | ≈6.9% | 5.9% | In line | |
| ROE (TTM) | 29.8%5Y avg ≈32.9% | ≈32.9% | 14.3% | Top tier | |
| ROIC | 34.1%5Y avg ≈37.5% | ≈37.5% | 10.5% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | WM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 0.95Y avg ≈0.8 | ≈0.8 | 1.2 | Low liquidity | |
| Quick Ratio | 0.75Y avg ≈0.7 | ≈0.7 | 0.8 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | WM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 14.2%5Y avg ≈10.7% | ≈10.7% | · | · | |
| Revenue CAGR 3Y | 8.6%5Y avg ≈8.7% | ≈8.7% | · | · | |
| Revenue CAGR 5Y | 10.6% | · | · | · | |
| EPS YoY | -1.6%5Y avg ≈14.2% | ≈14.2% | · | · | |
| Net Income YoY | -1.4%5Y avg ≈13.1% | ≈13.1% | · | · | |
| EPS CAGR 3Y | 7.5%5Y avg ≈13.8% | ≈13.8% | · | · | |
| EPS CAGR 5Y | 13.7% | · | · | · | |
| Net Income CAGR 3Y | 6.6%5Y avg ≈12.3% | ≈12.3% | · | · | |
| Net Income CAGR 5Y | 12.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | WM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.65Y avg ≈0.6 | ≈0.6 | 0.8 | Weak | |
| Receivables Turnover | 7.55Y avg ≈7.8 | ≈7.8 | 7.1 | In line | |
| Revenue / Employee | ≈$416.6K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 11, 2026 | $0.95 | USD | ≈1.7% |
| Jun 5, 2026 | $0.95 | USD | ≈1.6% |
| Mar 13, 2026 | $0.95 | USD | ≈1.4% |
| Dec 5, 2025 | $0.83 | USD | ≈1.5% |
| Sep 12, 2025 | $0.83 | USD | ≈1.5% |
| Jun 6, 2025 | $0.83 | USD | ≈1.3% |
| Mar 14, 2025 | $0.83 | USD | ≈1.4% |
| Dec 6, 2024 | $0.75 | USD | ≈1.4% |
| Sep 13, 2024 | $0.75 | USD | ≈1.4% |
| Jun 7, 2024 | $0.75 | USD | ≈1.4% |
| Mar 14, 2024 | $0.75 | USD | ≈1.4% |
| Nov 30, 2023 | $0.70 | USD | ≈1.6% |
| Sep 7, 2023 | $0.70 | USD | ≈1.8% |
| Jun 1, 2023 | $0.70 | USD | ≈1.7% |
| Mar 9, 2023 | $0.70 | USD | ≈1.8% |
| Dec 1, 2022 | $0.65 | USD | ≈1.5% |
| Sep 8, 2022 | $0.65 | USD | ≈1.5% |
| Jun 2, 2022 | $0.65 | USD | ≈1.5% |
| Mar 16, 2022 | $0.65 | USD | ≈1.5% |
| Dec 2, 2021 | $0.58 | USD | ≈1.4% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 27, 2026 | $2.02 | $2.04 | -1.1% |
| March 31, 2026 | $1.81 | $1.79 | 0.89% | |
| Dec. 31, 2025 | $1.93 | $2.00 | -3.5% | |
| Sept. 30, 2025 | $1.98 | $2.08 | -4.8% | |
| June 30, 2025 | $1.92 | $1.95 | -1.7% | |
| March 31, 2025 | $1.67 | $1.67 | 0.19% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.20B | $22.06B | $20.43B | $19.70B | $17.93B | $15.22B | $15.46B | $14.91B | $14.48B | $13.61B | $12.96B | $14.00B | |
| Cost of Revenue | $15.01B | $13.38B | $12.61B | $12.29B | $11.11B | $9.34B | $9.50B | $9.25B | $9.02B | $8.49B | $8.23B | $9.00B | |
| SG&A Expense | $2.72B | $2.26B | $1.93B | $1.94B | $1.86B | $1.73B | $1.63B | $1.45B | $1.47B | $1.41B | $1.34B | $1.48B | |
| Operating Expenses | $20.90B | $18.00B | $16.85B | $16.33B | $14.97B | $12.78B | $12.75B | $12.12B | $11.85B | $11.31B | $10.92B | $11.70B | |
| Operating Income | $4.31B | $4.06B | $3.58B | $3.37B | $2.96B | $2.43B | $2.71B | $2.79B | $2.64B | $2.30B | $2.04B | $2.30B | |
| Other Non-op | $20M | $-11M | $6M | $-2M | $5M | $5M | $-50M | $2M | $-8M | $-54M | $-7M | $-29M | |
| Pretax Income | $3.43B | $3.46B | $3.02B | $2.92B | $2.35B | $1.89B | $2.10B | $2.38B | $2.19B | $1.82B | $1.06B | $1.75B | |
| Income Tax | $717M | $713M | $745M | $678M | $532M | $397M | $434M | $453M | $242M | $642M | $308M | $413M | |
| Net Income | $2.71B | $2.75B | $2.30B | $2.24B | $1.82B | $1.50B | $1.67B | $1.93B | $1.95B | $1.18B | $753M | $1.30B | |
| EPS (Basic) | $6.72 | $6.84 | $5.69 | $5.42 | $4.32 | $3.54 | $3.93 | $4.49 | $4.44 | $2.66 | $1.66 | $2.80 | |
| EPS (Diluted) | $6.70 | $6.81 | $5.66 | $5.39 | $4.29 | $3.52 | $3.91 | $4.45 | $4.41 | $2.65 | $1.65 | $2.79 | |
| Shares (Basic) | 402,700,000 | 401,500,000 | 404,900,000 | 412,800,000 | 420,400,000 | 423,000,000 | 424,600,000 | 429,100,000 | 438,800,000 | 443,500,000 | 452,700,000 | 462,600,000 | |
| Shares (Diluted) | 404,200,000 | 403,400,000 | 406,900,000 | 415,000,000 | 422,900,000 | 425,100,000 | 427,500,000 | 432,200,000 | 441,900,000 | 446,500,000 | 455,900,000 | 465,600,000 | |
| EBITDA | $7.17B | $6.33B | $5.65B | $5.40B | · | $4.11B | $4.28B | $4.27B | $4.01B | $3.60B | $3.29B | $3.59B |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $201M | $414M | $458M | $351M | $118M | $553M | $3.56B | $61M | $22M | $32M | $39M | $1.31B | |
| Receivables | $3.44B | $3.27B | $2.63B | $2.46B | $2.28B | $2.10B | $1.95B | $1.93B | $1.80B | $1.70B | $1.55B | $1.59B | |
| Other Current Assets | $429M | $467M | $303M | $284M | $270M | $239M | $223M | $207M | $202M | $122M | $120M | $176M | |
| Current Assets | $4.91B | $4.77B | $3.80B | $3.55B | $3.07B | $3.54B | $6.21B | $2.65B | $2.69B | $2.38B | $2.35B | $3.53B | |
| PP&E (Net) | · | · | · | · | · | · | $12.89B | $11.94B | $11.56B | $10.95B | $10.66B | $10.66B | |
| PP&E (Gross) | $45.47B | $43.12B | $39.79B | $37.35B | $34.96B | $33.48B | $31.55B | $30.21B | $29.26B | $28.10B | $27.09B | $26.62B | |
| Accum. Depreciation | $25.10B | $23.78B | $22.83B | $21.63B | $20.54B | $19.34B | $18.66B | $18.26B | $17.70B | $17.15B | $16.42B | $15.97B | |
| Goodwill | $13.88B | $13.44B | $9.25B | $9.32B | $9.03B | $8.99B | $6.53B | $6.43B | $6.25B | $6.21B | $5.98B | $5.74B | |
| Intangibles | $3.77B | $4.19B | $759M | $827M | $898M | $1.02B | $521M | $572M | $547M | $591M | $477M | $440M | |
| Other Non-current Assets | $1.61B | $1.57B | $1.01B | $1.02B | $903M | $866M | $792M | $359M | $264M | $302M | $536M | $526M | |
| Total Assets | $45.84B | $44.57B | $32.82B | $31.37B | $29.10B | $29.34B | $27.74B | $22.65B | $21.83B | $20.86B | $20.37B | $21.25B | |
| Accounts Payable | $1.87B | $2.05B | $1.71B | $1.77B | $1.38B | $1.12B | $1.06B | $1.04B | $1.04B | $799M | $721M | $740M | |
| Accrued Liabilities | $2.21B | $2.18B | $1.60B | $1.62B | $1.43B | $1.34B | $1.33B | $1.12B | $980M | $1.08B | $1.06B | $1.18B | |
| Current Liabilities | $5.52B | $6.26B | $4.23B | $4.39B | $4.08B | $3.55B | $3.14B | $3.11B | $3.26B | $2.79B | $2.51B | $3.48B | |
| Capital Leases | $845M | $878M | $452M | $460M | $459M | $453M | $366M | · | · | · | · | · | |
| Deferred Tax | $3.16B | $2.81B | $1.83B | $1.73B | $1.69B | $1.81B | $1.41B | $1.29B | $1.25B | $1.48B | $1.39B | $1.34B | |
| Other Non-current Liabilities | $1.69B | $1.65B | $1.09B | $1.11B | $1.12B | $1.05B | $912M | $553M | $755M | $695M | $839M | $709M | |
| Total Liabilities | $35.84B | $36.31B | $25.93B | $24.50B | $21.97B | $21.89B | $20.67B | $16.37B | $15.79B | $15.54B | $15.00B | $15.41B | |
| Common Stock | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | |
| Retained Earnings | $17.23B | $15.86B | $14.33B | $13.17B | $12.00B | $11.16B | $10.59B | $9.80B | $8.59B | $7.39B | $6.94B | $6.89B | |
| Treasury Stock | $12.91B | $12.99B | $12.75B | $11.57B | $10.07B | $8.88B | $8.57B | $8.43B | $7.52B | $6.87B | $6.30B | $5.64B | |
| AOCI | $-10M | $-115M | $-37M | $-69M | $17M | $39M | $-8M | $-87M | $8M | $-80M | $-127M | $23M | |
| Stockholders' Equity | $9.99B | $8.25B | $6.90B | $6.85B | $7.12B | $7.45B | $7.07B | $6.28B | $6.02B | $5.30B | $5.34B | $5.87B | |
| Liabilities + Equity | $45.84B | $44.57B | $32.82B | $31.37B | $29.10B | $29.34B | $27.74B | $22.65B | $21.83B | $20.86B | $20.37B | $21.30B | |
| Shares Outstanding | 630,282,000 | 630,282,000 | 401,500,000 | 630,282,000 | 630,282,000 | 630,282,000 | 630,282,000 | 424,000,000 | 433,300,000 | 439,300,000 | 447,200,000 | 458,500,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.86B | $2.27B | $2.07B | $2.04B | $2.00B | $1.67B | $1.57B | $1.48B | $1.38B | $1.30B | $1.25B | $1.29B | |
| Stock-based Comp | $169M | $118M | $93M | $84M | $108M | $94M | $86M | $89M | $101M | $90M | $72M | $65M | |
| Deferred Tax | $363M | $124M | $83M | $49M | $-77M | $165M | $100M | $25M | $-251M | $73M | $30M | $-118M | |
| Amort. of Intangibles | $421M | $180M | $129M | $129M | $143M | $107M | $106M | $101M | $96M | $100M | $76M | · | |
| Restructuring | $51M | $4M | $5M | $1M | $8M | $9M | $6M | $4M | · | $4M | $15M | $82M | |
| Other Non-cash | $-60M | $135M | $168M | $127M | · | $-23M | $444M | $54M | $5M | $314M | $399M | $-246M | |
| Operating Cash Flow | $6.04B | $5.39B | $4.72B | $4.54B | $4.34B | $3.40B | $3.87B | $3.57B | $3.18B | $3.00B | $2.53B | $2.33B | |
| CapEx | $3.23B | $3.23B | $2.90B | $2.59B | $1.90B | $1.58B | $1.81B | $1.67B | $1.57B | $1.35B | $1.23B | $1.18B | |
| Investing Cash Flow | $-3.57B | $-10.60B | $-3.09B | $-3.06B | $-1.89B | $-4.85B | $-2.38B | $-2.17B | $-1.62B | $-1.93B | $-1.61B | · | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | $-427M | · | |
| Stock Repurchased | · | $262M | $1.30B | $1.50B | $1.35B | $402M | $248M | $1.00B | $750M | $725M | $600M | $600M | |
| Net Stock Activity | · | $-262M | $-1.30B | $-1.50B | · | $-402M | $-248M | $-1.00B | $-750M | $-725M | $-600M | $-600M | |
| Dividends Paid | $1.33B | $1.21B | $1.14B | $1.08B | $970M | $927M | $876M | $802M | $750M | $726M | $695M | $693M | |
| Financing Cash Flow | $-2.67B | $5.16B | $-1.52B | $-1.22B | $-2.90B | $-1.56B | $1.96B | $-1.51B | $-1.36B | $-1.08B | $-2.19B | · | |
| Net Change in Cash | $-190M | $-65M | $107M | $251M | $-454M | $-3.00B | $3.46B | $-110M | $199M | $-10M | $-1.27B | $1.25B | |
| Taxes Paid | $494M | $645M | $633M | $736M | $370M | $422M | $292M | $349M | $562M | $442M | $419M | · | |
| Free Cash Flow | $2.82B | $2.16B | $1.82B | $1.73B | · | $1.82B | $2.06B | $1.90B | $1.61B | $1.61B | $1.27B | $1.18B |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 17.1% | 18.4% | 17.5% | 17.1% | · | 16.0% | 17.5% | 18.7% | 18.2% | 16.9% | 15.8% | 16.4% | |
| Net Margin | 10.7% | 12.4% | 11.3% | 11.4% | · | 9.8% | 10.8% | 12.9% | 13.5% | 8.7% | 5.8% | 9.6% | |
| Pretax Margin | 13.6% | 15.7% | 14.8% | 14.8% | · | 12.4% | 13.6% | 15.9% | 15.1% | 13.4% | 8.2% | 12.5% | |
| EBITDA Margin | 28.4% | 28.7% | 27.6% | 27.4% | · | 27.0% | 27.7% | 28.6% | 27.7% | 26.4% | 25.4% | 25.7% | |
| ROA | 6.0% | 7.1% | 7.2% | 7.4% | · | 5.2% | 6.6% | 8.7% | 9.1% | 5.7% | 3.6% | 6.1% | |
| ROE | 29.7% | 36.2% | 33.5% | 32.0% | · | 20.6% | 25.0% | 31.3% | 34.4% | 22.2% | 13.4% | 23.1% | |
| ROIC | 34.1% | 39.1% | 39.0% | 37.7% | · | 25.8% | 30.4% | 36.0% | 39.0% | 28.1% | 27.1% | 29.9% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.8 | 0.9 | 0.8 | · | 1.0 | 2.0 | 0.9 | 0.8 | 0.9 | 0.9 | 1.0 | |
| Quick Ratio | 0.7 | 0.6 | 0.7 | 0.6 | · | 0.7 | 1.8 | 0.6 | 0.6 | 0.6 | 0.6 | 0.8 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.6 | 0.7 | · | 0.5 | 0.6 | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 | |
| Receivables Turnover | 7.5 | 7.5 | 8.0 | 8.3 | · | 7.5 | 8.0 | 8.0 | 8.3 | 8.4 | 8.3 | 8.5 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $24.80 | $20.55 | $17.19 | $16.79 | · | $17.63 | $16.66 | $14.80 | $13.89 | $12.06 | $11.95 | $12.79 | |
| Revenue / Share | $62.36 | $54.69 | $50.20 | $47.47 | · | $35.80 | $36.15 | $34.51 | $32.78 | $30.48 | $28.43 | $30.06 | |
| Cash Flow / Share | $14.95 | $13.36 | $11.60 | $10.93 | · | $8.01 | $9.06 | $8.26 | $7.20 | $6.63 | $5.48 | $5.01 | |
| Cash / Share | $0.50 | $1.03 | $1.14 | $0.86 | · | $1.31 | $8.39 | $0.14 | $0.05 | $0.07 | $0.09 | $2.85 | |
| Dividend / Share | $3.30 | $3.00 | $2.80 | $2.60 | $2.30 | $2.18 | $2.05 | $1.86 | $1.70 | $1.64 | $1.54 | $1.50 | |
| Dividend Paid / Share | $3.30 | $3.00 | $2.80 | $2.60 | $2.30 | $2.18 | $2.05 | $1.86 | $1.70 | $1.64 | $1.54 | $1.50 | |
| EPS (TTM) | $6.70 | $6.81 | $5.66 | $5.39 | $4.29 | $3.52 | $3.91 | $4.45 | $4.41 | $2.65 | $1.65 | $2.79 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 14.2% | 8.0% | 3.7% | 9.8% | 17.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.6% | 7.2% | 10.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 10.6% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -1.6% | 20.3% | 5.0% | 25.6% | 21.9% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 7.5% | 16.7% | 17.2% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 13.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.4% | 19.2% | 2.9% | 23.2% | 21.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 6.6% | 14.8% | 15.5% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 12.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 7.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $25.20B | $22.06B | $20.43B | $19.70B | $17.93B | $15.22B | $15.46B | $14.91B | $14.48B | $13.61B | $12.96B | $14.00B | |
| Net Income TTM | $2.71B | $2.75B | $2.30B | $2.24B | $1.82B | $1.50B | $1.67B | $1.93B | $1.95B | $1.18B | $753M | $1.30B | |
| Market Cap | $88.52B | $81.02B | $71.91B | $63.99B | · | $49.86B | $48.35B | $37.73B | $37.39B | $31.15B | $23.87B | $23.53B | |
| P/E | 32.8 | 29.6 | 31.6 | 29.1 | 38.9 | 33.5 | 29.1 | 20.0 | 19.6 | 26.8 | 32.3 | 18.4 | |
| P/S | 3.5 | 3.7 | 3.5 | 3.2 | · | 3.3 | 3.1 | 2.5 | 2.6 | 2.3 | 1.8 | 1.7 | |
| P/B | 8.9 | 9.8 | 10.4 | 9.3 | · | 6.7 | 6.8 | 6.0 | 6.2 | 5.9 | 4.5 | 4.0 | |
| P / Cash Flow | 14.6 | 15.0 | 15.2 | 14.1 | · | 14.7 | 12.5 | 10.6 | 11.8 | 10.5 | 9.6 | 10.1 | |
| P / FCF | 31.4 | 37.5 | 39.4 | 37.1 | · | 27.4 | 23.5 | 19.9 | 23.2 | 19.3 | 18.8 | 19.9 | |
| Dividend Yield | 1.5% | 1.5% | 1.6% | 1.7% | · | 1.9% | 1.8% | 2.1% | 2.0% | 2.3% | 2.9% | 2.9% | |
| Earnings Yield | 3.0% | 3.4% | 3.2% | 3.4% | 2.6% | 3.0% | 3.4% | 5.0% | 5.1% | 3.7% | 3.1% | 5.4% | |
| Payout Ratio | 49.3% | 44.1% | 49.3% | 48.1% | · | 62.0% | 52.5% | 41.7% | 38.5% | 61.4% | 92.4% | 51.8% | |
| Annual Payout | $1.33B | $1.21B | $1.14B | $1.08B | $970M | $927M | $876M | $802M | $750M | $726M | $695M | $693M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.68B | $6.23B | $6.31B | $6.44B | $6.43B | $6.02B | $5.89B | $5.61B | $5.40B | $5.16B | $5.22B | $5.20B | $5.12B | $4.89B | $4.93B | $5.08B | |
| Cost of Revenue | $3.96B | $3.69B | $3.69B | $3.83B | $3.80B | $3.61B | $3.55B | $3.40B | $3.29B | $3.14B | $3.15B | $3.19B | $3.19B | $3.09B | $3.09B | $3.16B | |
| SG&A Expense | $683M | $707M | $674M | $665M | $696M | $687M | $747M | $525M | $501M | $491M | $513M | $470M | $467M | $476M | $487M | $473M | |
| Operating Expenses | $5.43B | $5.11B | $5.16B | $5.45B | $5.28B | $5.00B | $4.97B | $4.49B | $4.39B | $4.14B | $4.43B | $4.18B | $4.17B | $4.07B | $4.17B | $4.13B | |
| Operating Income | $1.25B | $1.11B | $1.16B | $989M | $1.15B | $1.01B | $919M | $1.12B | $1.01B | $1.02B | $785M | $1.02B | $944M | $825M | $765M | $942M | |
| Other Non-op | $4M | $3M | $4M | $7M | $9M | $7M | $-18M | $6M | $-1M | $2M | $6M | $-4M | $2M | $2M | $5M | $-6M | |
| Pretax Income | $1.02B | $891M | $935M | $775M | $928M | $788M | $700M | $995M | $894M | $869M | $644M | $872M | $809M | $696M | $643M | $828M | |
| Income Tax | $238M | $168M | $193M | $172M | $201M | $151M | $102M | $235M | $214M | $162M | $175M | $210M | $196M | $164M | $143M | $189M | |
| Net Income | $785M | $723M | $742M | $603M | $726M | $637M | $598M | $760M | $680M | $708M | $493M | $663M | $615M | $533M | $499M | $639M | |
| EPS (Basic) | $1.96 | $1.79 | $1.84 | $1.50 | $1.80 | $1.58 | $1.49 | $1.89 | $1.70 | $1.76 | $1.22 | $1.64 | $1.52 | $1.31 | $1.21 | $1.55 | |
| EPS (Diluted) | $1.95 | $1.79 | $1.83 | $1.49 | $1.80 | $1.58 | $1.49 | $1.88 | $1.69 | $1.75 | $1.22 | $1.63 | $1.51 | $1.30 | $1.21 | $1.54 | |
| Shares (Basic) | 401,500,000 | 403,200,000 | · | 403,000,000 | 402,600,000 | 402,300,000 | · | 401,500,000 | 401,300,000 | 401,700,000 | · | 404,000,000 | 405,900,000 | 407,400,000 | · | 412,000,000 | |
| Shares (Diluted) | 402,400,000 | 404,400,000 | · | 404,300,000 | 404,300,000 | 403,900,000 | · | 403,200,000 | 403,200,000 | 403,500,000 | · | 405,900,000 | 407,700,000 | 409,000,000 | · | 414,300,000 | |
| EBITDA | $1.25B | $1.85B | · | $1.72B | $1.86B | $1.67B | · | $1.68B | $1.55B | $1.53B | · | $1.54B | $1.47B | $1.33B | · | $1.45B |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $557M | $158M | $201M | $175M | $440M | $216M | $414M | $614M | $172M | $322M | $458M | $150M | $144M | $257M | $351M | $137M | |
| Receivables | $3.50B | $3.37B | $3.44B | $3.40B | $3.41B | $3.26B | $3.27B | $2.84B | $2.73B | $2.53B | · | $2.65B | $2.58B | $2.42B | · | $2.45B | |
| Other Current Assets | $402M | $451M | $429M | $424M | $389M | $433M | $467M | $336M | $1.10B | $333M | · | $320M | $320M | $336M | · | $292M | |
| Current Assets | $5.40B | $4.81B | $4.91B | $4.84B | $4.98B | $4.46B | $4.77B | $4.26B | $4.44B | $3.53B | · | $3.56B | $3.48B | $3.37B | · | $3.26B | |
| PP&E (Gross) | · | · | $45.47B | · | · | · | $43.12B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $25.43B | $25.45B | $25.10B | $24.78B | $24.48B | $24.10B | $23.78B | $23.62B | $23.31B | $23.14B | · | $22.70B | $22.40B | $22.03B | · | $21.44B | |
| Goodwill | $14.00B | $13.87B | $13.88B | $13.89B | $13.89B | $13.53B | $13.44B | $9.82B | $9.36B | $9.25B | $9.25B | $9.40B | $9.40B | $9.34B | $9.32B | $9.09B | |
| Intangibles | $3.64B | $3.66B | $3.77B | $3.87B | $3.96B | $4.01B | $4.19B | $742M | $753M | $728M | · | $779M | $809M | $823M | · | $847M | |
| Other Non-current Assets | $1.58B | $1.61B | $1.61B | $1.60B | $1.56B | $1.56B | $1.57B | $995M | $1.01B | $1.01B | · | $1.00B | $986M | $1.00B | · | $929M | |
| Total Assets | $46.44B | $45.70B | $45.84B | $45.61B | $45.72B | $44.49B | $44.57B | $34.73B | $34.00B | $32.67B | · | $31.93B | $31.61B | $31.29B | · | $29.84B | |
| Accounts Payable | $1.99B | $1.80B | $1.87B | $2.08B | $2.02B | $1.90B | $2.05B | $1.85B | $1.78B | $1.62B | · | $1.74B | $1.63B | $1.51B | · | $1.49B | |
| Accrued Liabilities | $2.11B | $1.94B | $2.21B | $2.08B | $2.14B | $1.81B | $2.18B | $1.65B | $1.52B | $1.41B | · | $1.60B | $1.54B | $1.43B | · | $1.50B | |
| Current Liabilities | $5.95B | $5.15B | $5.52B | $5.74B | $5.82B | $5.35B | $6.26B | $4.78B | $4.14B | $3.95B | · | $4.22B | $4.25B | $3.86B | · | $3.83B | |
| Capital Leases | · | · | $845M | · | · | · | $878M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $3.31B | $3.27B | $3.16B | $3.02B | $2.87B | $2.84B | $2.81B | $1.88B | $1.83B | $1.88B | · | $1.81B | $1.78B | $1.78B | · | $1.63B | |
| Other Non-current Liabilities | $1.65B | $1.71B | $1.69B | $1.71B | $1.70B | $1.68B | $1.65B | $1.15B | $1.15B | $1.08B | · | $1.08B | $1.07B | $1.08B | · | $1.12B | |
| Total Liabilities | $36.52B | $35.68B | $35.84B | $36.09B | $36.52B | $35.84B | $36.31B | $26.76B | $26.55B | $25.59B | · | $24.97B | $24.69B | $24.48B | · | $22.83B | |
| Common Stock | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | · | $6M | $6M | $6M | · | $6M | |
| Retained Earnings | $17.98B | $17.57B | $17.23B | $16.82B | $16.55B | $16.16B | $15.86B | $15.56B | $15.10B | $14.74B | · | $14.12B | $13.74B | $13.41B | · | $12.93B | |
| Treasury Stock | $13.85B | $13.22B | $12.91B | $12.92B | $12.93B | $12.94B | $12.99B | $13.00B | $13.01B | $12.95B | · | $12.51B | $12.15B | $11.81B | · | $11.14B | |
| AOCI | $-71M | $-44M | $-10M | $-31M | $9M | $-87M | $-115M | $-76M | $-73M | $-60M | · | $-58M | $-32M | $-57M | · | $-92M | |
| Stockholders' Equity | $9.93B | $10.02B | $9.99B | $9.52B | $9.20B | $8.65B | $8.25B | $7.98B | $7.46B | $7.08B | · | $6.95B | $6.91B | $6.79B | · | $7.01B | |
| Liabilities + Equity | $46.44B | $45.70B | $45.84B | $45.61B | $45.72B | $44.49B | $44.57B | $34.73B | $34.00B | $32.67B | · | $31.93B | $31.61B | $31.29B | · | $29.84B | |
| Shares Outstanding | 400,000,000 | 402,300,000 | 402,900,000 | 402,900,000 | 402,600,000 | 402,400,000 | 401,500,000 | 401,400,000 | 401,100,000 | 401,300,000 | 401,500,000 | 402,800,000 | 404,900,000 | 406,800,000 | 407,900,000 | 410,500,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $777M | $735M | $770M | $729M | $708M | $691M | $652M | $558M | $543M | $514M | $526M | $519M | $521M | $505M | $545M | $503M | |
| Stock-based Comp | $46M | $52M | $34M | $43M | $41M | $51M | $34M | $27M | $27M | $30M | $22M | $24M | $21M | $26M | $13M | $20M | |
| Deferred Tax | $31M | $112M | $122M | $162M | $20M | $59M | $59M | $51M | $-43M | $57M | $14M | $38M | $-11M | $42M | $102M | $11M | |
| Restructuring | $6M | $4M | $12M | $14M | $12M | $13M | $2M | $2M | · | · | $1M | $0 | $1M | $3M | $0 | $1M | |
| Other Non-cash | · | $-121M | · | · | · | $-195M | · | · | · | $58M | · | · | · | $-62M | · | · | |
| Operating Cash Flow | $1.73B | $1.50B | $1.70B | $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 | |
| CapEx | $630M | $650M | $888M | $776M | $732M | $831M | $1.11B | $781M | $667M | $668M | $1.04B | $673M | $520M | $660M | $862M | $757M | |
| Investing Cash Flow | $-696M | $-731M | $-867M | $-784M | $-1.09B | $-829M | $-7.76B | $-480M | $-1.60B | $-755M | $-1.08B | $-668M | $-561M | $-778M | $-1.03B | $-936M | |
| Stock Repurchased | $659M | $344M | · | · | · | · | $0 | $0 | $12M | $250M | $312M | $370M | $270M | $350M | $439M | $541M | |
| Net Stock Activity | · | $-344M | · | · | · | · | · | · | · | $-250M | · | · | · | $-350M | · | · | |
| Dividends Paid | $379M | $385M | $333M | $332M | $333M | $336M | $301M | $301M | $301M | $307M | $281M | $283M | $283M | $289M | $266M | $267M | |
| Financing Cash Flow | $-631M | $-821M | $-843M | $-1.05B | $-245M | $-536M | $6.06B | $-439M | $273M | $-737M | $1M | $-606M | $-600M | $-319M | $175M | $-984M | |
| Net Change in Cash | $393M | $-52M | $-11M | $-244M | $221M | $-156M | $-200M | $441M | $-179M | $-127M | $302M | $-13M | $-129M | $-53M | $197M | $-745M | |
| Free Cash Flow | · | $851M | · | · | · | $377M | · | · | · | $699M | · | · | · | $384M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 18.8% | 17.9% | · | 15.3% | 17.9% | 16.8% | · | 20.0% | 18.7% | 19.7% | · | 19.6% | 18.4% | 16.9% | · | 18.6% | |
| Net Margin | 11.7% | 11.6% | · | 9.4% | 11.3% | 10.6% | · | 13.6% | 12.6% | 13.7% | · | 12.8% | 12.0% | 10.9% | · | 12.6% | |
| Pretax Margin | 15.3% | 14.3% | · | 12.0% | 14.4% | 13.1% | · | 17.7% | 16.6% | 16.8% | · | 16.8% | 15.8% | 14.2% | · | 16.3% | |
| EBITDA Margin | 18.8% | 29.7% | · | 26.7% | 28.9% | 27.7% | · | 29.9% | 28.7% | 29.7% | · | 29.6% | 28.6% | 27.2% | · | 28.5% | |
| ROA | 1.7% | 1.6% | · | 1.5% | 1.8% | 1.7% | · | 2.3% | 2.1% | 2.2% | · | 2.1% | 2.0% | 1.8% | · | 2.2% | |
| ROE | 8.2% | 7.7% | · | 6.9% | 8.7% | 8.1% | · | 10.2% | 9.5% | 10.2% | · | 9.5% | 8.7% | 7.6% | · | 9.0% | |
| ROIC | 9.7% | 9.0% | · | 8.1% | 9.8% | 9.5% | · | 10.7% | 10.3% | 11.7% | · | 11.2% | 10.3% | 9.3% | · | 10.4% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.9 | · | 0.8 | 0.9 | 0.8 | · | 0.9 | 1.1 | 0.9 | · | 0.8 | 0.8 | 0.9 | · | 0.9 | |
| Quick Ratio | 0.7 | 0.7 | · | 0.6 | 0.7 | 0.7 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.6 | 0.7 | · | 0.7 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Receivables Turnover | 1.9 | 1.9 | · | 2.1 | 2.1 | 2.1 | · | 2.0 | 2.0 | 2.1 | · | 2.0 | 2.0 | 2.1 | · | 2.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $24.81 | $24.91 | · | $23.63 | $22.85 | $21.50 | · | $19.88 | $18.59 | $17.65 | · | $17.25 | $17.06 | $16.70 | · | $17.08 | |
| Revenue / Share | $16.61 | $15.40 | · | $15.94 | $15.90 | $14.90 | · | $13.91 | $13.40 | $12.79 | · | $12.81 | $12.56 | $11.96 | · | $12.25 | |
| Cash Flow / Share | · | $3.71 | · | · | · | $2.99 | · | · | · | $3.39 | · | · | · | $2.55 | · | · | |
| Cash / Share | $1.39 | $0.39 | · | $0.43 | $1.09 | $0.54 | · | $1.53 | $0.43 | $0.80 | · | $0.37 | $0.36 | $0.63 | · | $0.33 | |
| Dividend / Share | $0.94 | $0.94 | $0.82 | $0.82 | $0.82 | $0.82 | $0.75 | $0.75 | $0.75 | $0.75 | $0.70 | $0.70 | $0.70 | $0.70 | $0.65 | $0.65 | |
| EPS (TTM) | $7.06 | $6.91 | · | $6.36 | $6.75 | $6.64 | · | $6.54 | $6.29 | $6.11 | · | $5.65 | $5.56 | $5.46 | · | $5.37 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $25.67B | $25.41B | · | $24.78B | $23.95B | $22.92B | · | $21.39B | $20.98B | $20.69B | · | $20.14B | $20.02B | $19.93B | · | $19.44B | |
| Net Income TTM | $2.85B | $2.79B | · | $2.56B | $2.72B | $2.67B | · | $2.64B | $2.54B | $2.48B | · | $2.31B | $2.29B | $2.26B | · | $2.25B | |
| Market Cap | $89.15B | $92.44B | · | $88.97B | $92.12B | $93.16B | · | $83.33B | $85.57B | $85.54B | · | $61.40B | $70.22B | $66.38B | · | $65.77B | |
| P/E | 31.6 | 33.3 | · | 34.7 | 33.9 | 34.9 | · | 31.7 | 33.9 | 34.9 | · | 27.0 | 31.2 | 29.9 | · | 29.8 | |
| P/S | 3.5 | 3.6 | · | 3.6 | 3.8 | 4.1 | · | 3.9 | 4.1 | 4.1 | · | 3.0 | 3.5 | 3.3 | · | 3.4 | |
| P/B | 9.0 | 9.2 | · | 9.3 | 10.0 | 10.8 | · | 10.4 | 11.5 | 12.1 | · | 8.8 | 10.2 | 9.8 | · | 9.4 | |
| P / Cash Flow | · | 61.6 | · | · | · | 77.1 | · | · | · | 62.6 | · | · | · | 63.6 | · | · | |
| Dividend Yield | 1.6% | 1.5% | · | 1.5% | 1.4% | 1.3% | · | 1.4% | 1.4% | 1.4% | · | 1.8% | 1.6% | 1.6% | · | 1.6% | |
| Earnings Yield | 3.2% | 3.0% | · | 2.9% | 2.9% | 2.9% | · | 3.1% | 2.9% | 2.9% | · | 3.7% | 3.2% | 3.4% | · | 3.4% | |
| Payout Ratio | · | 53.2% | · | · | · | 52.8% | · | · | · | 43.4% | · | · | · | 54.2% | · | · | |
| Annual Payout | $1.43B | $1.38B | · | $1.30B | $1.27B | $1.24B | · | $1.19B | $1.17B | $1.15B | · | $1.12B | $1.10B | $1.09B | · | $1.05B |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $25.20B | $22.06B | $20.43B | $19.70B | $17.93B |
| Operating Margin % | 17.1% | 18.4% | 17.5% | 17.1% | · |
| Net Income | $2.71B | $2.75B | $2.30B | $2.24B | $1.82B |
| Diluted EPS | $6.70 | $6.81 | $5.66 | $5.39 | $4.29 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.8 | 0.9 | 0.8 | · |
| Quick Ratio | 0.7 | 0.6 | 0.7 | 0.6 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $2.82B | $2.16B | $1.82B | $1.73B | · |
Institutional owners (13F) 2,495 filers · $81.4B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 134 (-99 vs prior Q) | 106 (-9 vs prior Q) | 947 (-10 vs prior Q) | 922 (+103 vs prior Q) | +8.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $8,566,507,621 | 38,990,067 | 10.52% | Shares |
| BlackRock, Inc. | $6,849,981,403 | 30,733,944 | 8.41% | Shares |
| GATES FOUNDATION TRUST | $5,955,519,423 | 26,720,744 | 7.31% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,612,055,103 | 25,179,716 | 6.89% | Shares |
| STATE STREET CORP | $4,013,830,541 | 18,008,931 | 4.93% | Shares |
| Capital Research Global Investors | $2,326,456,418 | 10,438,136 | 2.86% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,255,863,873 | 10,121,428 | 2.77% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,013,961,011 | 9,068,808 | 2.47% | Shares |
| AMERIPRISE FINANCIAL INC | $1,582,964,951 | 7,086,113 | 1.94% | Shares |
| MORGAN STANLEY | $1,467,644,461 | 6,584,906 | 1.80% | Shares |
| NORGES BANK | $1,063,503,569 | 4,771,642 | 1.31% | Shares |
| ROYAL BANK OF CANADA | $1,056,446,000 | 4,739,983 | 1.30% | Shares |
| WELLS FARGO & COMPANY/MN | $966,203,481 | 4,335,084 | 1.19% | Shares |
| PARNASSUS INVESTMENTS, LLC | $889,551,448 | 4,362,257 | 1.09% | Shares |
| NORTHERN TRUST CORP | $837,894,625 | 3,759,398 | 1.03% | Shares |
| GOLDMAN SACHS GROUP INC | $801,990,722 | 3,598,308 | 0.98% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $709,156,068 | 3,086,105 | 0.87% | Shares |
| BANK OF AMERICA CORP /DE/ | $696,366,952 | 3,124,403 | 0.86% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $657,202,362 | 2,957,041 | 0.81% | Shares |
| Amundi | $641,451,317 | 2,878,103 | 0.79% | Shares |
| Swedbank AB | $617,694,535 | 2,771,422 | 0.76% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $613,726,574 | 2,753,631 | 0.75% | Shares |
| Legal & General Group Plc | $597,396,185 | 2,680,349 | 0.73% | Shares |
| Clearbridge Investments, LLC | $542,297,434 | 2,433,136 | 0.67% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $527,565,825 | 2,366,960 | 0.65% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $523,404,309 | 2,348,368 | 0.64% | Shares |
| JPMORGAN CHASE & CO | $502,734,824 | 2,250,680 | 0.62% | Shares |
| DEUTSCHE BANK AG\ | $492,002,475 | 2,207,477 | 0.60% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $470,954,132 | 2,113,039 | 0.58% | Shares |
| Bank of New York Mellon Corp | $457,854,372 | 2,054,264 | 0.56% | Shares |
| STIFEL FINANCIAL CORP | $448,913,608 | 2,014,127 | 0.55% | Shares |
| Invesco Ltd. | $444,464,998 | 1,994,190 | 0.55% | Shares |
| BARCLAYS PLC | $419,937,795 | 1,884,143 | 0.52% | Shares |
| RAYMOND JAMES FINANCIAL INC | $415,125,913 | 1,862,554 | 0.51% | Shares |
| BANK OF MONTREAL /CAN/ | $409,652,656 | 1,837,996 | 0.50% | Shares |
| UBS Group AG | $405,485,362 | 1,819,299 | 0.50% | Shares |
| Sustainable Growth Advisers, LP | $401,557,632 | 1,969,192 | 0.49% | Shares |
| Vontobel Holding Ltd. | $378,845,431 | 1,857,814 | 0.47% | Shares |
| BROWN BROTHERS HARRIMAN & CO | $357,403,975 | 1,603,571 | 0.44% | Shares |
| Morgan Stanley Institutional Investment Advisors LLC | $322,479,277 | 1,446,874 | 0.40% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $309,324,454 | 1,387,852 | 0.38% | Shares |
| Nuveen, LLC | $303,390,609 | 1,361,229 | 0.37% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $298,570,110 | 1,339,600 | 0.37% | Shares |
| TWO SIGMA INVESTMENTS, LP | $297,276,007 | 1,333,794 | 0.37% | Shares |
| Mirova US LLC | $292,632,971 | 1,312,962 | 0.36% | Shares |
| Diamond Hill Capital Management, LLC (Investment Advisor) | $262,143,209 | 1,176,163 | 0.32% | Shares |
| BANQUE PICTET & CIE SA | $261,832,872 | 1,283,998 | 0.32% | Shares |
| Swiss National Bank | $253,303,120 | 1,136,500 | 0.31% | Shares |
| LPL Financial LLC | $237,096,764 | 1,063,787 | 0.29% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $226,880,250 | 1,017,948 | 0.28% | Shares |
Company insiders 76 insiders · 33 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| David P Steiner | President and CEO | July 5, 2016 M | 884,757 | 0 | 0 | $0 |
| Robert G Simpson | SVP, Chief Financial Officer | March 9, 2011 A | 110,033 | 0 | 0 | $0 |
| Mark A Weidman | President, Wheelabrator | Aug. 21, 2014 G | 57,677 | 0 | 0 | $0 |
| William K Caesar | President, Recycle America | March 7, 2014 A | 14,108 | 0 | 0 | $0 |
| Patrick J Derueda | President, Recycle America | March 9, 2011 A | 31,515 | 0 | 0 | $0 |
| Lawrence Odonnell III | President and COO | March 9, 2010 A | 282,594 | 0 | 0 | $0 |
| Drennan J Lowell | President, Wheelabrator | March 4, 2006 F | 16,556 | 0 | 0 | $0 |
| Domenic Pio | President, Canadian Waste | March 4, 2005 F | 13,894 | 0 | 0 | $0 |
| John A. Carroll | VP & Chief Accounting Officer | Sept. 4, 2026 S | 3,509 | 0 | 5 | $-608,128 |
| Kimberly G. Stith | SVP - Chief HR Officer | Sept. 3, 2026 F | 4,480 | 0 | 2 | $-39,591 |
| Rafael Carrasco | SVP of Enterprise Strategy | June 5, 2026 M | 15,540 | 0 | 4 | $-2,760,025 |
| Don P Carpenter | VP & Chief Acctg Officer | Dec. 31, 2016 F | 17,899 | 0 | 0 | $0 |
| Puneet Bhasin | EVP Corp Op & Pres WM Recyclin | Aug. 10, 2016 M | 42,326 | 0 | 0 | $0 |
| Mark E. Schwartz | Sr. VP, Human Resources | Aug. 4, 2016 M | 40,061 | 0 | 0 | $0 |
| Rick L Wittenbraker | Sr. Vice President | Oct. 6, 2014 G | 81,654 | 0 | 0 | $0 |
| David A Aardsma | Chief Sales & Marketing Office | Sept. 18, 2014 A | 49,608 | 0 | 0 | $0 |
| Grace Cowan | Sr. VP Customer Experience | Aug. 23, 2012 S | 240 | 0 | 0 | $0 |
| Cherie C Rice | Vice President and Treasurer | July 31, 2012 M | 19,221 | 0 | 0 | $0 |
| Brett W Frazier | SVP - Southern Group | July 30, 2012 M | 38,759 | 0 | 0 | $0 |
| Carl V Rush JR | Sr. VP - Organic Growth | July 26, 2012 A | 7,976 | 0 | 0 | $0 |
| Duane C Woods | Senior Vice President | March 9, 2012 A | 75,367 | 0 | 0 | $0 |
| Greg A Robertson | VP, Chief Accounting Officer | March 9, 2012 A | 34,796 | 0 | 0 | $0 |
| PRESTON STEVEN C | Executive Vice President | March 9, 2012 A | · | 0 | 0 | $0 |
| Michael Jay Romans | Sr. Vice President, People | March 9, 2011 A | 16,062 | 0 | 0 | $0 |
| Lynn M Caddell | Senior Vice President | Feb. 17, 2009 F | 28,412 | 0 | 0 | $0 |
| David R Hopkins | Senior Vice President | March 4, 2007 F | 60,830 | 0 | 0 | $0 |
| Jimmy D Lavalley | Senior Vice President, People | Jan. 21, 2007 F | 21,644 | 0 | 0 | $0 |
| James T Schultz | Senior Vice President | Jan. 11, 2007 A | 16,224 | 0 | 0 | $0 |
| Richard T Felago | Senior Vice President | Jan. 11, 2007 A | 26,249 | 0 | 0 | $0 |
| Robert P Damico | Senior Vice President | Jan. 27, 2006 A | 94,927 | 0 | 0 | $0 |
| Maurice A Myers | Chairman of the Board | Aug. 16, 2004 S | 422,500 | 0 | 0 | $0 |
| William L Trubeck | Executive Vice President | July 1, 2004 A | 41,363 | 0 | 0 | $0 |
| Ronald Hamilton Jones | Vice President and Treasurer | Dec. 31, 2003 A | · | 0 | 0 | $0 |
| Robert W Reum | Director | Jan. 17, 2017 S | 35,387 | 0 | 0 | $0 |
| Pastora San Juan Cafferty | Director | Dec. 17, 2012 S | 21,874 | 0 | 0 | $0 |
| ROTHMEIER STEVEN G | Director | Jan. 4, 2012 G | 0 | 0 | 0 | $0 |
| Thomas I Morgan | Director | Jan. 15, 2008 A | 2,554 | 0 | 0 | $0 |
| Robert S Miller | Director | July 15, 2005 A | 31,726 | 0 | 0 | $0 |
| Carl W Vogt | Director | March 15, 2005 S | 24,819 | 0 | 0 | $0 |
| WHITWORTH RALPH V | Director | Jan. 15, 2004 A | · | 0 | 0 | $0 |
| David L. Reed | · | Aug. 7, 2026 G | 5,357 | 0 | 4 | $-91,015 |
| Marcel Dalby | · | May 20, 2026 A | 5,867 | 0 | 0 | $0 |
| Tara J. Hmmer | · | May 20, 2026 A | 81,462 | 0 | 2 | $-1,316,730 |
| John J Morris | · | May 20, 2026 F | 99,363 | 0 | 3 | $-3,131,728 |
| Bruce E. Chinn | · | May 15, 2026 A | 3,729 | 0 | 0 | $0 |
| Maryrose Sylvester | · | May 15, 2026 A | 5,865 | 0 | 0 | $0 |
| Thomas Bene | · | May 15, 2026 A | 2,987 | 0 | 0 | $0 |
| Andres Gluski | · | May 15, 2026 A | 18,383 | 0 | 0 | $0 |
| Kathleen M Mazzarella | · | May 15, 2026 A | 18,276 | 0 | 0 | $0 |
| William B Plummer | · | May 15, 2026 A | 4,031 | 0 | 0 | $0 |
| Sean E Menke | · | May 15, 2026 A | 861 | 1 | 0 | $392,840 |
| Victoria M Holt | · | May 15, 2026 A | 23,881 | 0 | 0 | $0 |
| Johnson Varkey | · | April 4, 2026 F | 9,101 | 0 | 3 | $-274,312 |
| Christopher P. Desantis | · | March 9, 2026 S | 9,393 | 0 | 2 | $-62,029 |
| Donald J Smith | · | March 3, 2026 A | 6,024 | 0 | 3 | $-2,998,565 |
| Michael J. Watson | · | March 3, 2026 A | 44,146 | 0 | 3 | $-4,322,552 |
| James C Fish Jr | · | March 3, 2026 A | 220,087 | 0 | 3 | $-8,469,037 |
| Charles C Boettcher | · | March 3, 2026 A | 56,159 | 0 | 1 | $-151,111 |
| Devina A Rankin | · | May 27, 2025 M | 83,934 | 0 | 0 | $0 |
| Kelly C. Rooney | · | March 1, 2024 A | 2,220 | 0 | 0 | $0 |
| John C Pope | · | Jan. 16, 2024 S | 56,461 | 0 | 0 | $0 |
| Thomas H Weidemeyer | · | Jan. 15, 2023 A | 37,161 | 0 | 0 | $0 |
| Leslie K Nagy | · | Sept. 21, 2022 P | 4,950 | 0 | 0 | $0 |
| Nikolaj H Sjoqvist | · | April 28, 2022 S | 38,769 | 0 | 0 | $0 |
| Tamla Oates-Forney | · | April 5, 2022 A | 20,495 | 0 | 0 | $0 |
| Steve Batchelor | · | March 1, 2022 A | 42,246 | 0 | 0 | $0 |
| Frank M Clark | · | Jan. 21, 2021 S | 33,004 | 0 | 0 | $0 |
| Patrick W Gross | · | Jan. 17, 2020 S | 24,942 | 0 | 0 | $0 |
| Jeff M Harris | · | Nov. 8, 2018 S | 51,490 | 0 | 0 | $0 |
| Barry H Caldwell | · | May 4, 2018 S | 20,603 | 0 | 0 | $0 |
| James E Trevathan JR | · | Feb. 20, 2018 A | 398,038 | 0 | 0 | $0 |
| Bradbury H Anderson | · | Jan. 15, 2018 A | 23,218 | 0 | 0 | $0 |
| Darren K Shade | · | Feb. 28, 2017 A | 2,669 | 0 | 0 | $0 |
| Charles E Williams | · | Nov. 17, 2006 S | 80,341 | 0 | 0 | $0 |
| Steven T Ragiel | · | Feb. 1, 2005 M | 28,900 | 0 | 0 | $0 |
| Charles A Wilcox | · | March 4, 2004 A | 80,933 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 144 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CCSO · Tidal Trust II | 5.41% | 10,909 NS | July 31, 2026 | N-PORT |
| IDU · iShares Trust | 5.12% | 308,464 SH | Sept. 11, 2026 | Daily |
| JGRW · Trust for Professional Managers | 3.64% | 14,583 NS | Aug. 31, 2026 | N-PORT |
| CCOR · Listed Funds Trust | 3.10% | 3,819 NS | July 31, 2026 | N-PORT |
| NPFE · Elevation Series Trust | 2.70% | 77,474 NS | July 31, 2026 | N-PORT |
| BOBP · EXCHANGE TRADED CONCEPTS TRUST | 2.63% | 68 NS | July 31, 2026 | N-PORT |
| BDIV · ETF Series Solutions | 2.20% | 649 NS | July 31, 2026 | N-PORT |
| FDIV · EA Series Trust | 2.04% | 5,284 NS | July 31, 2026 | N-PORT |
| ESLG · Strategy Shares | 1.50% | 1,543 NS | July 31, 2026 | N-PORT |
| ALRG · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 1.38% | 509 NS | July 31, 2026 | N-PORT |
| TEXN · iShares Trust | 1.33% | 1,161 SH | Sept. 11, 2026 | Daily |
| RSPN · Invesco Exchange-Traded Fund Trust | 1.33% | 40,452 SH | Oct. 23, 2026 | Daily |
| USMV · iShares Trust | 1.31% | 1,447,355 SH | Sept. 11, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 1.30% | 132,073 NS | July 31, 2026 | N-PORT |
| ESLV · Strategy Shares | 1.29% | 813 NS | July 31, 2026 | N-PORT |
| HUSV · First Trust Exchange-Traded Fund III | 1.28% | 4,165 NS | July 31, 2026 | N-PORT |
| GDIV · Harbor ETF Trust | 1.23% | 12,774 NS | July 31, 2026 | N-PORT |
| VIS · VANGUARD WORLD FUND | 1.20% | 489,342 SH | Aug. 19, 2026 | Daily |
| NFRA · FlexShares Trust | 1.17% | 154,728 NS | July 31, 2026 | N-PORT |
| DUSL · Direxion Shares ETF Trust | 1.10% | 2,730 NS | July 31, 2026 | N-PORT |
| SPLV · Invesco Exchange-Traded Fund Trust … | 1.04% | 320,306 SH | Oct. 23, 2026 | Daily |
| ACWV · iShares, Inc. | 0.97% | 150,808 SH | Sept. 11, 2026 | Daily |
| ESUM · Strategy Shares | 0.91% | 7,296 NS | July 31, 2026 | N-PORT |
| QLV · FlexShares Trust | 0.87% | 6,300 NS | July 31, 2026 | N-PORT |
| UPSD · ETF Series Solutions | 0.86% | 4,444 NS | July 31, 2026 | N-PORT |
| EXI · iShares Trust | 0.80% | 53,097 SH | Sept. 11, 2026 | Daily |
| JOET · Virtus ETF Trust II | 0.75% | 8,021 NS | July 31, 2026 | N-PORT |
| DUHP · Dimensional ETF Trust | 0.58% | 311,939 NS | July 31, 2026 | N-PORT |
| SNPD · DBX ETF Trust | 0.54% | 76 NS | Aug. 31, 2026 | N-PORT |
| FDLO · FIDELITY COVINGTON TRUST | 0.50% | 31,594 NS | July 31, 2026 | N-PORT |
| XOEF · iShares Trust | 0.45% | 463 SH | Sept. 11, 2026 | Daily |
| FEUS · FlexShares Trust | 0.45% | 2,200 NS | July 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.42% | 152,681 NS | July 31, 2026 | N-PORT |
| MGV · VANGUARD WORLD FUND | 0.42% | 252,402 SH | Aug. 19, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.39% | 10,978,000 | Oct. 23, 2026 | Daily |
| ACVF · ETF Opportunities Trust | 0.38% | 2,554 NS | July 31, 2026 | N-PORT |
| VIG · VANGUARD SPECIALIZED FUNDS | 0.36% | 2,087,193 SH | Aug. 19, 2026 | Daily |
| BSCR · Invesco Exchange-Traded Self-Indexe… | 0.35% | 15,599,500 | Oct. 23, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.34% | 1,486,056 SH | Aug. 19, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | 0.34% | 11,390 SH | Oct. 23, 2026 | Daily |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.34% | 12,131,000 | Oct. 21, 2026 | Daily |
| VTV · VANGUARD INDEX FUNDS | 0.33% | 3,817,604 SH | Aug. 19, 2026 | Daily |
| VFMV · VANGUARD WELLINGTON FUND | 0.32% | 5,919 SH | Aug. 19, 2026 | Daily |
| DFVX · Dimensional ETF Trust | 0.31% | 7,224 NS | July 31, 2026 | N-PORT |
| MNZL · EA Series Trust | 0.31% | 336 NS | July 31, 2026 | N-PORT |
| DGRO · iShares Trust | 0.30% | 607,816 SH | Sept. 11, 2026 | Daily |
| PWS · Pacer Funds Trust | 0.30% | 320 NS | July 31, 2026 | N-PORT |
| VOOV · VANGUARD ADMIRAL FUNDS | 0.28% | 85,076 SH | Aug. 19, 2026 | Daily |
| IQSU · New York Life Investments ETF Trust | 0.28% | 4,036 NS | July 31, 2026 | N-PORT |
| IVE · iShares Trust | 0.27% | 614,085 SH | Sept. 11, 2026 | Daily |
| IUSV · iShares Trust | 0.25% | 323,543 SH | Sept. 11, 2026 | Daily |
| ILCV · iShares Trust | 0.23% | 14,536 SH | Sept. 11, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.22% | 7,577 SH | Oct. 23, 2026 | Daily |
| MPLY · Strategy Shares | 0.22% | 154 NS | July 31, 2026 | N-PORT |
| RSP · Invesco Exchange-Traded Fund Trust | 0.22% | 907,178 SH | Oct. 23, 2026 | Daily |
| IWX · iShares Trust | 0.22% | 39,215 SH | Sept. 11, 2026 | Daily |
| SPXD · DBX ETF Trust | 0.21% | 69 NS | Aug. 31, 2026 | N-PORT |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.21% | 295,000 | Oct. 23, 2026 | Daily |
| PEVC · Pacer Funds Trust | 0.21% | 22 NS | July 31, 2026 | N-PORT |
| EGLE · Global X Funds | 0.20% | 19 NS | July 31, 2026 | N-PORT |
| SNPE · DBX ETF Trust | 0.20% | 26,398 NS | Aug. 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.19% | 17,338 SH | Sept. 11, 2026 | Daily |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.19% | 11,228 NS | July 31, 2026 | N-PORT |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.19% | 38,012 SH | Oct. 23, 2026 | Daily |
| SIZE · iShares Trust | 0.18% | 3,501 SH | Sept. 11, 2026 | Daily |
| ROUS · Lattice Strategies Trust | 0.17% | 5,325 NS | July 31, 2026 | N-PORT |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.17% | 164,176 SH | Aug. 19, 2026 | Daily |
| MGC · VANGUARD WORLD FUND | 0.17% | 80,154 SH | Aug. 19, 2026 | Daily |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.17% | 5,136,000 | Oct. 22, 2026 | Daily |
| CATH · Global X Funds | 0.16% | 9,452 NS | July 31, 2026 | N-PORT |
| USCL · iShares Trust | 0.16% | 21,240 SH | Sept. 11, 2026 | Daily |
| IWD · iShares Trust | 0.16% | 604,573 SH | Sept. 11, 2026 | Daily |
| QVML · Invesco Exchange-Traded Fund Trust … | 0.15% | 10,817 SH | Oct. 23, 2026 | Daily |
| CHRI · Global X Funds | 0.15% | 52 NS | July 31, 2026 | N-PORT |
| TOPC · iShares Trust | 0.15% | 224 SH | Sept. 10, 2026 | Daily |
| DEUS · DBX ETF Trust | 0.15% | 2,007 NS | Aug. 31, 2026 | N-PORT |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.15% | 64,128 SH | Oct. 23, 2026 | Daily |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.14% | 6,113 SH | Oct. 23, 2026 | Daily |
| IWL · iShares Trust | 0.14% | 14,523 SH | Sept. 11, 2026 | Daily |
| BKLC · BNY Mellon ETF Trust | 0.14% | 34,099 NS | July 31, 2026 | N-PORT |
| VV · VANGUARD INDEX FUNDS | 0.14% | 469,012 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.14% | 84,165 SH | Aug. 19, 2026 | Daily |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.14% | 60,348 SH | Oct. 23, 2026 | Daily |
| ACIO · ETF Series Solutions | 0.14% | 14,206 NS | July 31, 2026 | N-PORT |
| XVV · iShares Trust | 0.14% | 4,258 SH | Sept. 11, 2026 | Daily |
| PBP · Invesco Exchange-Traded Fund Trust | 0.14% | 2,229 SH | Oct. 23, 2026 | Daily |
| ADME · ETF Series Solutions | 0.14% | 1,750 NS | July 31, 2026 | N-PORT |
| XCLR · Global X Funds | 0.13% | 21 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.13% | 122,341 NS | July 31, 2026 | N-PORT |
| XTR · Global X Funds | 0.13% | 28 NS | July 31, 2026 | N-PORT |
| BBUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 51,561 NS | July 31, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.13% | 6,324 NS | July 31, 2026 | N-PORT |
| PTLC · Pacer Funds Trust | 0.13% | 18,786 NS | July 31, 2026 | N-PORT |
| VOO · VANGUARD INDEX FUNDS | 0.13% | 9,595,861 SH | Aug. 19, 2026 | Daily |
| TOV · EA Series Trust | 0.13% | 1,497 NS | July 31, 2026 | N-PORT |
| XYLD · Global X Funds | 0.13% | 18,536 NS | July 31, 2026 | N-PORT |
| XRMI · Global X Funds | 0.13% | 285 NS | July 31, 2026 | N-PORT |
| VOXP · Advisors Series Trust | 0.13% | 33 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.13% | 69,626 NS | July 31, 2026 | N-PORT |
| QARP · DBX ETF Trust | 0.13% | 450 NS | Aug. 31, 2026 | N-PORT |
| XYLG · Global X Funds | 0.13% | 356 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.12% | 51,583 SH | Oct. 23, 2026 | Daily |
| IVV · iShares Trust | 0.12% | 4,656,541 SH | Sept. 11, 2026 | Daily |
| ILCB · iShares Trust | 0.12% | 7,244 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.12% | 12,749,529 SH | Aug. 19, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.12% | 61,637 SH | Aug. 19, 2026 | Daily |
| SPUU · Direxion Shares ETF Trust | 0.12% | 1,394 NS | July 31, 2026 | N-PORT |
| QDPL · Pacer Funds Trust | 0.12% | 8,900 NS | July 31, 2026 | N-PORT |
| APUE · Trust for Professional Managers | 0.12% | 13,323 NS | Aug. 31, 2026 | N-PORT |
| IWB · iShares Trust | 0.11% | 258,021 SH | Sept. 11, 2026 | Daily |
| PHDG · Invesco Actively Managed Exchange-T… | 0.11% | 293 SH | Oct. 23, 2026 | Daily |
| IYY · iShares Trust | 0.11% | 15,799 SH | Sept. 11, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.11% | 2,689 NS | July 31, 2026 | N-PORT |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.11% | 31,370 SH | Aug. 19, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.11% | 231,963 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.11% | 102,363 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.11% | 481,001 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.10% | 10,112 NS | July 31, 2026 | N-PORT |
| HCMT · Direxion Shares ETF Trust | 0.10% | 2,571 NS | July 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.10% | 1,133 SH | Sept. 11, 2026 | Daily |
| KOKU · DBX ETF Trust | 0.10% | 3,737 NS | Aug. 31, 2026 | N-PORT |
| SPXL · Direxion Shares ETF Trust | 0.10% | 28,884 NS | July 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.10% | 2,442 NS | July 31, 2026 | N-PORT |
| URTH · iShares, Inc. | 0.10% | 36,335 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.09% | 12,698 NS | July 31, 2026 | N-PORT |
| ACWI · iShares Trust | 0.08% | 125,780 SH | Sept. 11, 2026 | Daily |
| IWY · iShares Trust | 0.08% | 55,064 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.07% | 306,724 SH | Aug. 19, 2026 | Daily |
| VONG · VANGUARD SCOTTSDALE FUNDS | 0.07% | 159,708 SH | Aug. 19, 2026 | Daily |
| IWF · iShares Trust | 0.07% | 376,741 SH | Sept. 11, 2026 | Daily |
| ESMV · iShares Trust | 0.05% | 18 SH | Sept. 11, 2026 | Daily |
| CRBN · iShares Trust | 0.04% | 2,309 SH | Sept. 10, 2026 | Daily |
| DYNF · BlackRock ETF Trust | 0.00% | 40 SH | Aug. 31, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | -0.40% | -44,079 NS | July 31, 2026 | N-PORT |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| VCEB · VANGUARD WORLD FUND | · | · | July 30, 2026 | Daily |
WM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
25 analysts · 2026-10-24Mean target $253.52 +5.9%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| WM | $88.52B | 32.8 | 14.2% | 10.7% | 29.7% | · |
| RSG | · | 30.9 | 3.3% | 11.2% | 18.3% | · |
| VLTO | $24.79B | 26.5 | 6.0% | 17.1% | 36.5% | 60.0% |
| CLH | $12.40B | 32.2 | 2.4% | 6.5% | 14.3% | · |
| ROL | $28.88B | 55.1 | 11.0% | 14.0% | 37.4% | · |
| TTEK | $8.71B | 35.8 | 4.7% | 4.6% | 13.7% | 17.7% |
| CWST | · | 816.2 | 17.9% | 0.43% | 0.50% | · |
| ABM | · | 17.3 | 4.6% | · | · | · |
| BV | $1.27B | 103.1 | -3.4% | 2.1% | 4.4% | 23.3% |
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