Waste management

6 companies · $59.1B combined revenue · $10.1B operating profit

The typical US-listed waste management company grew revenue 7% and earnings -1.4% in its latest year, at a 14.1% operating margin, and 0 of 6 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.

7%Median revenue growth
-1.4%Median earnings growth
7.8%Median revenue growth, 3 yrs
6.6%Median earnings growth, 3 yrs
14.1%Median operating margin
9.7%Median ROCE

Growth engines: the 4 Cylinders

All four working: 0% of companies

A company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.

  • Sales growth · Revenue up 10% or more33%
  • Operating leverage · Operating income growing faster than a growing revenue20%
  • Margin expansion · Operating margin up 1 point or more33%
  • Debt reduction · Debt down 5% or more, or net cash17%

Combined revenue · 5 companies reporting in US dollars

Revenue
$0$20B$40B$60BFY21FY22FY23FY24FY25

Combined operating margin

Operating margin
0%5%10%15%20%FY21FY22FY23FY24FY25

All 6 companies

Median–7%-1.4%14.1%9.7%1.04x
WMWaste Management$25.2B14.2%▲-1.4%17.1%▲10.7%▲2.29x▼
RSGRepublic Services$16.6B3.5%▼4.7%▲19.9%▲10.8%▲1.15x▼
WCNWaste Connections$9.5B6.1%▼74.3%▲18.1%▲9%▼1.07x▼
CLHClean Harbors$6.0B2.4%▼-2.8%▼11.2%▼10.4%▲1.01x▲
GFLGFL EnvironmentalCAD 6.6B7.8%▲–10.3%▼3.9%▼1.02x▲
CWSTCasella Waste Systems$1.8B18%▲-41.9%▼3.5%▼2.1%▼0.72x▲

▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).