Waste Management (WM) Return on Invested Capital [ROIC] (2009 - 2025)
Waste Management's Return on Invested Capital [ROIC] came in at 10.72% for Q2 2026, up 0.52 percentage points from 10.21% a year earlier and up 0.11 percentage points from the prior quarter.
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Analysis
Waste Management (WM) Return on Invested Capital [ROIC] (2009 - 2025) Analysis & Trends
For FY2025, Waste Management's Return on Invested Capital [ROIC] was 10.47%, down 1.20 percentage points from FY2024.
- Return on Invested Capital [ROIC] has declined in each of the last three years, though with a five-year change of +1.28 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 11.67% in FY2024 (-0.31 pp), 11.98% in FY2023 (-0.21 pp), 12.19% in FY2022 (+1.22 pp) and 10.97% in FY2021 (+1.78 pp).
- The Q2 2026 figure represents the highest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- Year-over-year, Return on Invested Capital [ROIC] increased in three of the last eight quarters, with an average year-over-year change of -0.91 percentage points.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q1 2022 (a gain of 2.31 percentage points), and the weakest in Q1 2025 (a drop of 2.53 percentage points).
- Business Quant data shows WM's Return on Invested Capital [ROIC] at 10.61% (Q1 2026), 10.36% (Q4 2025) and 9.90% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Yr) |
|---|---|---|---|---|---|
| 1 | Waste Management | 94.39 Bn | 93.32 Bn | 2.75 Bn | 10.47% |
| 2 | Republic Services | 75.41 Bn | 75.02 Bn | 1.90 Bn | 10.96% |
| 3 | Waste Connections | 47.83 Bn | 47.48 Bn | 1.14 Bn | 7.86% |
| 4 | GFL Environmental | 15.73 Bn | 15.73 Bn | 304.74 Mn | 13.37% |
| 5 | Clean Harbors | 15.30 Bn | 12.64 Bn | 661.44 Mn | 9.17% |
| 6 | Casella Waste Systems | 5.92 Bn | 5.24 Bn | 184.65 Mn | 1.41% |
| 7 | Onterris | 832.01 Mn | 777.91 Mn | 88.27 Mn | 0.00% |
| 8 | Enviri | 710.17 Mn | 67.28 Mn | -162.22 Mn | - |
| 9 | Oio | 619.48 Mn | 617.91 Mn | - | -24.73% |
| 10 | Perma Fix Environmental Services | 328.26 Mn | 221.00 Mn | 552,000.00 | -20.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 10.47% |
| Dec 31, 2024 | 11.67% |
| Dec 31, 2023 | 11.98% |
| Dec 31, 2022 | 12.19% |
| Dec 31, 2021 | 10.97% |
| Dec 31, 2020 | 9.20% |
| Dec 31, 2019 | 11.65% |
| Dec 31, 2018 | 14.18% |
| Dec 31, 2017 | 15.55% |
| Dec 31, 2016 | 10.28% |
| Dec 31, 2015 | 9.80% |
| Dec 31, 2014 | 11.14% |
| Dec 31, 2013 | 1.73% |
| Dec 31, 2012 | 7.45% |
| Dec 31, 2011 | 8.50% |
| Dec 31, 2010 | 8.39% |
| Dec 31, 2009 | 9.05% |
API Access
Waste Management Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D-annual&ticker=WM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]-annual", "ticker": "WM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D-annual&ticker=WM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();