PerpEquities

Equity · Industrials

Is Waste Management (WM) tradable as a perp? Not yet

Waste Management provides environmental waste solutions across North America, including collection, disposal, recycling, and landfill gas-to-energy services for residential, commercial, industrial, and municipal customers.

Not yet listed on any perp exchange

No perpetual-futures venue lists WM yet. We track it continuously; as soon as the first listing appears, this page becomes a full market page. Until then: fundamentals below and tradable alternatives.

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Company data

Company fundamentals

Updated 3h ago
Market cap
$84.4B
Updated 3h ago
Revenue
$25.7B
Trailing 12 months
Revenue growth
+5%
Next fiscal year
Profit margin
+11.1%
P/E
29.8
Peer P/E 30.1
Free cash flow
$3.6B
Trailing 12 months
More metrics
Net income
$2.9B
Trailing 12 months
P/S
3.3
Peer P/E
30.1
Similar listed perps
Revenue estimate
$26.4B
Next fiscal year
Earnings
2026-10-26
Revenue est. $6.8B · Updated 3h ago
Dividend
$0.945
2026-09-11

Fundamental detail

Annual + quarterly
Latest revenue$25.2B
Net margin+10.7%
Free cash flow$2.8B
Net debt$22.7B
2020$15.2B
2021$17.9B
2022$19.7B
2023$20.4B
2024$22.1B
2025$25.2B
PeriodRevenueGrowthNet incomeFCF
2020$15.2B-2%$1.5B$1.8B
2021$17.9B+18%$1.8B$2.4B
2022$19.7B+10%$2.2B$1.9B
2023$20.4B+4%$2.3B$1.8B
2024$22.1B+8%$2.7B$2.2B
2025$25.2B+14%$2.7B$2.8B
PeriodGross marginOperating marginNet marginROEROA
2020+27.6%+16.3%+9.8%+20.1%+5.1%
2021+26.9%+16.8%+10.1%+25.5%+6.2%
2022+27.2%+17.5%+11.4%+32.7%+7.1%
2023+28.1%+18.7%+11.3%+33.4%+7.0%
2024+29.1%+18.8%+12.4%+33.3%+6.2%
2025+29.1%+18.3%+10.7%+27.1%+5.9%
PeriodCashDebtNet debtCurrent ratio
2020$553M$13.8B$13.3B1.00
2021$118M$13.4B$13.3B0.75
2022$351M$15B$14.6B0.81
2023$458M$16.2B$15.8B0.90
2024$414M$23.9B$23.5B0.76
2025$201M$22.9B$22.7B0.89
PeriodMarket capEnterprise valueP/SP/E
2020$49.9B$63.1B3.333.3
2021$70.2B$83.5B3.938.6
2022$64.8B$79.4B3.328.9
2023$72.5B$88.3B3.631.5
2024$81B$104.5B3.729.5
2025$88.5B$111.2B3.532.7
Q3 2024$5.6B
Q4 2024$5.9B
Q1 2025$6B
Q2 2025$6.4B
Q3 2025$6.4B
Q4 2025$6.3B
Q1 2026$6.2B
Q2 2026$6.7B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$5.6B+8%$760M$577M
Q4 2024$5.9B+13%$598M$396M
Q1 2025$6B+17%$637M$377M
Q2 2025$6.4B+19%$726M$813M
Q3 2025$6.4B+15%$603M$816M
Q4 2025$6.3B+7%$742M$810M
Q1 2026$6.2B+3%$723M$851M
Q2 2026$6.7B+4%$785M$1.1B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+29.5%+20.1%+13.5%+9.5%+2.2%
Q4 2024+28.6%+16.0%+10.1%+7.2%+1.3%
Q1 2025+28.5%+17.1%+10.6%+7.4%+1.4%
Q2 2025+29.3%+18.5%+11.3%+7.9%+1.6%
Q3 2025+29.2%+18.9%+9.4%+6.3%+1.3%
Q4 2025+29.3%+18.6%+11.8%+7.4%+1.6%
Q1 2026+40.7%+17.9%+11.6%+7.2%+1.6%
Q2 2026+40.8%+18.7%+11.7%+7.9%+1.7%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$614M$16.7B$16B0.89
Q4 2024$414M$23.9B$23.5B0.76
Q1 2025$216M$23.8B$23.6B0.83
Q2 2025$440M$24B$23.6B0.86
Q3 2025$175M$23.4B$23.2B0.84
Q4 2025$201M$22.9B$22.7B0.89
Q1 2026$158M$22.9B$22.7B0.93
Q2 2026$557M$23.4B$22.8B0.91
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$83.4B$99.4B14.927.5
Q4 2024$81B$104.5B13.833.9
Q1 2025$93.1B$116.8B15.536.6
Q2 2025$92.1B$115.7B14.331.8
Q3 2025$89B$112.2B13.836.8
Q4 2025$88.6B$111.3B14.029.9
Q1 2026$92.7B$115.4B14.932.1
Q2 2026$89.7B$112.5B13.428.4

Refreshed 3h ago

Charts: revenue, profit, cash flow & valuation
Revenue$6.7BQ2 2026
$1.7B$3.3B$5B$6.7BQ3 2023: $5.2BQ4 2023: $5.2BQ1 2024: $5.2BQ2 2024: $5.4BQ3 2024: $5.6BQ4 2024: $5.9BQ1 2025: $6BQ2 2025: $6.4BQ3 2025: $6.4BQ4 2025: $6.3BQ1 2026: $6.2BQ2 2026: $6.7BQ3 2023Q2 2026
Net income$785MQ2 2026
$196.3M$392.5M$588.8M$785MQ3 2023: $663MQ4 2023: $493MQ1 2024: $708MQ2 2024: $680MQ3 2024: $760MQ4 2024: $598MQ1 2025: $637MQ2 2025: $726MQ3 2025: $603MQ4 2025: $742MQ1 2026: $723MQ2 2026: $785MQ3 2023Q2 2026
EBITDA$2BQ2 2026
$508.5M$1B$1.5B$2BQ3 2023: $1.6BQ4 2023: $1.3BQ1 2024: $1.5BQ2 2024: $1.6BQ3 2024: $1.7BQ4 2024: $1.6BQ1 2025: $1.7BQ2 2025: $1.9BQ3 2025: $1.7BQ4 2025: $1.9BQ1 2026: $1.8BQ2 2026: $2BQ3 2023Q2 2026
Free cash flow$1.1BQ2 2026
$274M$548M$822M$1.1BQ3 2023: $590MQ4 2023: $340MQ1 2024: $699MQ2 2024: $487MQ3 2024: $577MQ4 2024: $396MQ1 2025: $377MQ2 2025: $813MQ3 2025: $816MQ4 2025: $810MQ1 2026: $851MQ2 2026: $1.1BQ3 2023Q2 2026
EPS$1.95Q2 2026
$0.49$0.98$1.46$1.95Q3 2023: $1.63Q4 2023: $1.22Q1 2024: $1.75Q2 2024: $1.69Q3 2024: $1.88Q4 2024: $1.48Q1 2025: $1.58Q2 2025: $1.8Q3 2025: $1.49Q4 2025: $1.83Q1 2026: $1.79Q2 2026: $1.95Q3 2023Q2 2026
Cash / Debt$557MQ2 2026
$6B$12B$18B$24BQ3 2023 · Cash: $150MQ3 2023 · Debt: $15.4BQ4 2023 · Cash: $458MQ4 2023 · Debt: $16.2BQ1 2024 · Cash: $322MQ1 2024 · Debt: $16.1BQ2 2024 · Cash: $172MQ2 2024 · Debt: $16.7BQ3 2024 · Cash: $614MQ3 2024 · Debt: $16.7BQ4 2024 · Cash: $414MQ4 2024 · Debt: $23.9BQ1 2025 · Cash: $216MQ1 2025 · Debt: $23.8BQ2 2025 · Cash: $440MQ2 2025 · Debt: $24BQ3 2025 · Cash: $175MQ3 2025 · Debt: $23.4BQ4 2025 · Cash: $201MQ4 2025 · Debt: $22.9BQ1 2026 · Cash: $158MQ1 2026 · Debt: $22.9BQ2 2026 · Cash: $557MQ2 2026 · Debt: $23.4BQ3 2023Q2 2026
CashDebt
Profitability+40.8%Q2 2026
+10.2%+20.4%+30.6%+40.8%Q3 2023 · Gross margin: +28.7%Q4 2023 · Gross margin: +29.6%Q1 2024 · Gross margin: +29.2%Q2 2024 · Gross margin: +29.0%Q3 2024 · Gross margin: +29.5%Q4 2024 · Gross margin: +28.6%Q1 2025 · Gross margin: +28.5%Q2 2025 · Gross margin: +29.3%Q3 2025 · Gross margin: +29.2%Q4 2025 · Gross margin: +29.3%Q1 2026 · Gross margin: +40.7%Q2 2026 · Gross margin: +40.8%Q3 2023 · Operating margin: +19.6%Q4 2023 · Operating margin: +19.8%Q1 2024 · Operating margin: +19.7%Q2 2024 · Operating margin: +19.8%Q3 2024 · Operating margin: +20.1%Q4 2024 · Operating margin: +16.0%Q1 2025 · Operating margin: +17.1%Q2 2025 · Operating margin: +18.5%Q3 2025 · Operating margin: +18.9%Q4 2025 · Operating margin: +18.6%Q1 2026 · Operating margin: +17.9%Q2 2026 · Operating margin: +18.7%Q3 2023 · Net margin: +12.8%Q4 2023 · Net margin: +9.4%Q1 2024 · Net margin: +13.7%Q2 2024 · Net margin: +12.6%Q3 2024 · Net margin: +13.5%Q4 2024 · Net margin: +10.1%Q1 2025 · Net margin: +10.6%Q2 2025 · Net margin: +11.3%Q3 2025 · Net margin: +9.4%Q4 2025 · Net margin: +11.8%Q1 2026 · Net margin: +11.6%Q2 2026 · Net margin: +11.7%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+4.0%Q2 2026
+4.8%+9.5%+14.3%+19.0%Q3 2024: +7.9%Q4 2024: +13.0%Q1 2025: +16.7%Q2 2025: +19.0%Q3 2025: +14.9%Q4 2025: +7.1%Q1 2026: +3.5%Q2 2026: +4.0%Q3 2023Q2 2026
Shares outstanding403.3MQ2 2026
101.5M203M304.4M405.9MQ3 2023: 405.9MQ4 2023: 404.2MQ1 2024: 403.5MQ2 2024: 403.2MQ3 2024: 403.2MQ4 2024: 403.6MQ1 2025: 403.9MQ2 2025: 404.3MQ3 2025: 404.3MQ4 2025: 404.5MQ1 2026: 404.4MQ2 2026: 403.3MQ3 2023Q2 2026
Valuation28.4Q2 2026
9.218.427.636.8Q3 2023 · P/E: 23.2Q4 2023 · P/E: 36.4Q1 2024 · P/E: 30.2Q2 2024 · P/E: 30.8Q3 2024 · P/E: 27.5Q4 2024 · P/E: 33.9Q1 2025 · P/E: 36.6Q2 2025 · P/E: 31.8Q3 2025 · P/E: 36.8Q4 2025 · P/E: 29.9Q1 2026 · P/E: 32.1Q2 2026 · P/E: 28.4Q3 2023 · P/S: 11.8Q4 2023 · P/S: 13.8Q1 2024 · P/S: 16.6Q2 2024 · P/S: 15.6Q3 2024 · P/S: 14.9Q4 2024 · P/S: 13.8Q1 2025 · P/S: 15.5Q2 2025 · P/S: 14.3Q3 2025 · P/S: 13.8Q4 2025 · P/S: 14.0Q1 2026 · P/S: 14.9Q2 2026 · P/S: 13.4Q3 2023Q2 2026
P/EP/S
Revenue$25.2B2025
$6.3B$12.6B$18.9B$25.2B2018: $14.9B2019: $15.5B2020: $15.2B2021: $17.9B2022: $19.7B2023: $20.4B2024: $22.1B2025: $25.2B20182025
Net income$2.7B2025
$686.5M$1.4B$2.1B$2.7B2018: $1.9B2019: $1.7B2020: $1.5B2021: $1.8B2022: $2.2B2023: $2.3B2024: $2.7B2025: $2.7B20182025
EBITDA$7.2B2025
$1.8B$3.6B$5.4B$7.2B2018: $4.3B2019: $4.2B2020: $4.1B2021: $4.8B2022: $5.4B2023: $5.7B2024: $6.5B2025: $7.2B20182025
Free cash flow$2.8B2025
$704M$1.4B$2.1B$2.8B2018: $1.9B2019: $2.1B2020: $1.8B2021: $2.4B2022: $1.9B2023: $1.8B2024: $2.2B2025: $2.8B20182025
EPS$6.72025
$1.7$3.41$5.11$6.812018: $4.452019: $3.912020: $3.522021: $4.292022: $5.392023: $5.662024: $6.812025: $6.720182025
Cash / Debt$201M2025
$6B$12B$17.9B$23.9B2018 · Cash: $61M2018 · Debt: $10B2019 · Cash: $3.6B2019 · Debt: $13.5B2020 · Cash: $553M2020 · Debt: $13.8B2021 · Cash: $118M2021 · Debt: $13.4B2022 · Cash: $351M2022 · Debt: $15B2023 · Cash: $458M2023 · Debt: $16.2B2024 · Cash: $414M2024 · Debt: $23.9B2025 · Cash: $201M2025 · Debt: $22.9B20182025
CashDebt
Profitability+29.1%2025
+7.3%+14.5%+21.8%+29.1%2018 · Gross margin: +28.1%2019 · Gross margin: +28.4%2020 · Gross margin: +27.6%2021 · Gross margin: +26.9%2022 · Gross margin: +27.2%2023 · Gross margin: +28.1%2024 · Gross margin: +29.1%2025 · Gross margin: +29.1%2018 · Operating margin: +18.3%2019 · Operating margin: +17.8%2020 · Operating margin: +16.3%2021 · Operating margin: +16.8%2022 · Operating margin: +17.5%2023 · Operating margin: +18.7%2024 · Operating margin: +18.8%2025 · Operating margin: +18.3%2018 · Net margin: +12.9%2019 · Net margin: +10.8%2020 · Net margin: +9.8%2021 · Net margin: +10.1%2022 · Net margin: +11.4%2023 · Net margin: +11.3%2024 · Net margin: +12.4%2025 · Net margin: +10.7%20182025
Gross marginOperating marginNet margin
Revenue growth+14.2%2025
+3.3%+8.1%+13.0%+17.8%2019: +3.6%2020: -1.5%2021: +17.8%2022: +9.9%2023: +3.7%2024: +8.0%2025: +14.2%20182025
Shares outstanding404.2M2025
108.1M216.1M324.2M432.2M2018: 432.2M2019: 427.5M2020: 425.1M2021: 422.9M2022: 415M2023: 406.9M2024: 403.4M2025: 404.2M20182025
Valuation32.72025
9.719.329.038.62018 · P/E: 19.82019 · P/E: 29.02020 · P/E: 33.32021 · P/E: 38.62022 · P/E: 28.92023 · P/E: 31.52024 · P/E: 29.52025 · P/E: 32.72018 · P/S: 2.62019 · P/S: 3.12020 · P/S: 3.32021 · P/S: 3.92022 · P/S: 3.32023 · P/S: 3.62024 · P/S: 3.72025 · P/S: 3.520182025
P/EP/S

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20268.11$26.4B+5%17
FY 20279.07$27.8B+10%18
FY 20289.92$29.1B+15%10
FY 202910.95$31B+23%4
FY 203011.69$32.3B+28%4
Q1 20292.25$8.5B+36%8

Company events

6
2026-10-26EarningsActual - / Estimate 2.18-
2026-09-11Dividend$0.945-
2026-07-28EarningsActual 2.02 / Estimate 1.98Beat
2026-06-05Dividend$0.945-
2026-04-28EarningsActual 1.81 / Estimate 1.75Beat
2026-03-13Dividend$0.945-

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
HWM$91.9B10.149.2+20.5%1NOC$74.9B1.716.7+10.5%3GD$95.5B1.721.2+8.2%2PWR$95.7B2.972.0+4.1%1VRT$96B8.455.2+15.1%13ROK$46.2B5.238.9+13.4%5LMT$123.2B1.619.6+8.2%6SUMIELEC$41.4B1.216.2+7.6%2

Analyst track record

How the analysts covering WM have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings129344
Analysts2941
Buy / hold / sell90 / 39 / 0203 / 141 / 0
Upgrades / downgrades / initiations3 / 1 / 89 / 5 / 18
Price targets hit / missed0 / 114 (0%)46 / 263 (15%)
Avg. return after a rating (TipRanks)-15.9%-9.1%
Best / worst call-0.1% / -23.0%+33.3% / -23.0%

After buy calls on this stock: median 21-day move +2.9% vs S&P 500 -0.2% (n = 200)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Noah KayeOppenheimer81% hit rate on this stock · 16 targets measuredBuytarget $264Apr 30, 2026
  2. James SchummTD Cowen56% hit rate on this stock · 9 targets measuredBuytarget $275Jul 30, 2026
  3. Tobey SommerTruist Financial50% hit rate on this stock · 8 targets measuredBuytarget $260Jul 30, 2026

Latest ratings

DateAnalystCallTarget
Sep 15, 2026Nigel CoeWolfe ResearchHoldInitiated–article ↗
Sep 15, 2026Nigel CoeWolfe ResearchHoldInitiated–article ↗
Sep 8, 2026Connor CernigliaBernsteinBuyMaintained$270article ↗
Sep 2, 2026Connor CernigliaBernsteinBuyMaintained$270article ↗
Aug 27, 2026Konark GuptaScotiabankHoldMaintained$260article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$200$210$220$230$240$250$260Oct 25 · Buy 12 · Hold 9 · Sell 0Oct 25Nov 25 · Buy 15 · Hold 7 · Sell 0Dec 25 · Buy 14 · Hold 7 · Sell 0Dec 25Jan 26 · Buy 15 · Hold 7 · Sell 0Feb 26 · Buy 15 · Hold 7 · Sell 0Feb 26Mar 26 · Buy 15 · Hold 7 · Sell 0Apr 26 · Buy 14 · Hold 7 · Sell 0Apr 26May 26 · Buy 15 · Hold 7 · Sell 0Jun 26 · Buy 15 · Hold 7 · Sell 0Jun 26Jul 26 · Buy 15 · Hold 9 · Sell 0Aug 26 · Buy 17 · Hold 9 · Sell 0Aug 26Sep 26 · Buy 17 · Hold 9 · Sell 0Oct 25 · avg. target $248Nov 25 · avg. target $245Dec 25 · avg. target $246Jan 26 · avg. target $252Feb 26 · avg. target $253Mar 26 · avg. target $254Apr 26 · avg. target $255May 26 · avg. target $255Jun 26 · avg. target $259Jul 26 · avg. target $260Aug 26 · avg. target $261Sep 26 · avg. target $261Oct 25 · month-end close $200Nov 25 · month-end close $218Dec 25 · month-end close $220Jan 26 · month-end close $222Feb 26 · month-end close $241Mar 26 · month-end close $230Apr 26 · month-end close $233May 26 · month-end close $211Jun 26 · month-end close $223Jul 26 · month-end close $227Aug 26 · month-end close $219Sep 26 · month-end close $213

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Sep 18, 2026 · 129 ratings