Waste Management (WM) Operating Margin (2009 - 2026)
Waste Management (WM) posted Operating Margin of 18.75% for Q2 2026, up 4.88% sequentially from 17.87% in Q1 2026, and up 85.0% YoY from 10.13% in Q2 2025.
Waste Management (WM) Operating Margin (2009 - 2026) Analysis & Trends
Waste Management has reported Operating Margin for 18 years, with the latest figure at 18.75% in Q2 2026.
- Quarterly Operating Margin rose 85.0% year-over-year to 18.75% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 17.57% (up 3.0% YoY) and the FY2025 annual result came in at 17.09%, down 132.0% from the prior year.
- Operating Margin climbed to 18.75% in Q2 2026 per WM's latest filing, from 17.87% in the prior quarter.
- Over five years, Operating Margin peaked at 19.95% in Q3 2024 and troughed at 15.05% in Q4 2023.
- A 5-year average of 17.62% and a median of 17.89% in 2025 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2024 and 2025: Operating Margin jumped 283 bps in 2024, then slumped 460 bps in 2025.
- Over 5 years, Operating Margin stood at 15.5% in 2022, then declined by 3 bps to 15.05% in 2023, then rose by 4 bps to 15.59% in 2024, then rose by 17 bps to 18.3% in 2025, then grew by 2 bps to 18.75% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 18.75%, 17.87%, and 18.3% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Waste Management | 90.39 Bn | 89.83 Bn | 2.73 Bn | 18.75% |
| 2 | Republic Services | 67.62 Bn | 67.51 Bn | 1.87 Bn | 20.34% |
| 3 | Waste Connections | 42.71 Bn | 42.61 Bn | 1.08 Bn | 17.08% |
| 4 | Clean Harbors | 17.07 Bn | 16.56 Bn | 608.78 Mn | 15.50% |
| 5 | GFL Environmental | 14.89 Bn | 14.70 Bn | 278.90 Mn | -11.00% |
| 6 | Casella Waste Systems | 5.91 Bn | 5.89 Bn | 178.80 Mn | 3.67% |
| 7 | Sino Green Land | 646.75 Mn | 646.67 Mn | -78,936.00 | -83.62% |
| 8 | Onterris | 529.21 Mn | 515.52 Mn | 82.26 Mn | 3.46% |
| 9 | Perma Fix Environmental Services | 334.90 Mn | 300.95 Mn | -2.50 Mn | -50.50% |
| 10 | American Battery Technology | 307.22 Mn | 267.94 Mn | 737,749.00 | -440.46% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 18.75% |
| Mar 31, 2026 | 17.87% |
| Dec 31, 2025 | 18.30% |
| Sep 30, 2025 | 15.35% |
| Jun 30, 2025 | 17.90% |
| Mar 31, 2025 | 16.83% |
| Dec 31, 2024 | 15.59% |
| Sep 30, 2024 | 19.95% |
| Jun 30, 2024 | 18.68% |
| Mar 31, 2024 | 19.69% |
| Dec 31, 2023 | 15.05% |
| Sep 30, 2023 | 19.64% |
| Jun 30, 2023 | 18.44% |
| Mar 31, 2023 | 16.86% |
| Dec 31, 2022 | 15.50% |
| Sep 30, 2022 | 18.56% |
| Jun 30, 2022 | 17.70% |
| Mar 31, 2022 | 16.48% |
| Dec 31, 2021 | 15.35% |
| Sep 30, 2021 | 17.28% |