WM Waste Management margins

Relative Growth: Rel. Growth: 68

Relative Strength: Rel. Strength: 37

Relative Valuation: Rel. Valuation: 45

Relative Profitability: Rel. Profitability: 69

Gross margin

40.9%

Operating margin

17.6%

EBITDA margin

29.4%

Net margin

11.1%

Currently, Waste Management has a gross margin of 40.9%, an operating margin of 17.6%, an EBITDA margin of 29.4%, and a net margin of 11.1%. Gross margin showed the largest improvement, increasing by 0.9 percentage points. Net margin saw the largest decline, decreasing by 0.3 percentage points.

WM margin history

Gross, operating, EBITDA and net margin trends

Waste Management's margins averaged 39.55% gross, 17.67% operating, 28.41% EBITDA, and 11.48% net during the last 3 years. Against the three-year averages, gross and EBITDA margins are above their three-year averages and operating and net margins are below their three-year averages.

WM margin expansion

Year-over-year margin changes in percentage points

Gross margin expanded by 0.9 percentage points, operating margin by 0.1 percentage points, and EBITDA margin by 0.8 percentage points, but net margin contracted by 0.3 percentage points.

Gross margin expansion

0.9pp

Operating margin expansion

0.1pp

EBITDA margin expansion

0.8pp

Net margin expansion

-0.3pp

WM Gross margin

Over the last 3 years, the average gross margin for Waste Management was 39.55%. The latest gross margin for Waste Management is 40.9%, 1.4 percentage points above its three-year average. Waste Management's gross margin ranged from a low of 37.7% in Sep 2023 to a high of 40.9% in Jun 2026.

WM Operating margin

Over the last 3 years, Waste Management's operating margin averaged 17.67%. At present, Waste Management's current operating margin is 17.6%, which is 0.1 percentage points below its three-year average. During this period, operating margin reached a high of 18.4% in Dec 2024 and a low of 16.4% in Sep 2025.

WM EBITDA margin

Waste Management's EBITDA margin averaged 28.41% over the last 3 years. Compared with its three-year average, Waste Management's current EBITDA margin is 29.4% and is 1 percentage points above its three-year average. Over the last 3 years, Waste Management's EBITDA margin peaked at 29.4% in Jun 2026 and reached a low of 27.5% in Dec 2023.

WM Net margin

Across the last 3 years, Waste Management's net margin came to 11.48%. Waste Management currently reports a net margin of 11.1%, 0.4 percentage points below its three-year average. Net margin was highest at 12.4% in Dec 2024 and lowest at 10.3% in Sep 2025.

WM margin group comparison

Margins compared with peer-group, industry and sector averages

Waste Management's gross margin of 40.9% is higher than the Industrials sector, the industry and its peers average. In comparison with the Industrials sector average of 32.7%, Waste Management's gross margin is 25% higher.

WM margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Waste Management's gross margin?

As of Jun 30, 2026, WM has a gross margin of 40.9%.

What is Waste Management's operating margin?

As of Jun 30, 2026, WM has an operating margin of 17.6%.

What is Waste Management's EBITDA margin?

As of Jun 30, 2026, WM has an EBITDA margin of 29.4%.

What is Waste Management's net margin?

The current net margin for WM is 11.1% as of Jun 30, 2026.

What are the average margins of WM?

Waste Management's gross, operating, EBITDA, and net margins averaged 39.6% gross, 17.7% operating, 28.4% EBITDA, and 11.5% net over the last 3 years.

What are the highest historical margins of WM?

Looking back across 5 years, WM reached 40.9% gross in Jun 2026, 18.4% operating in Dec 2024, 29.4% EBITDA in Jun 2026, and 12.4% net in Dec 2024.

What are the lowest historical margins of WM?

Across the 5-year period, WM posted its lowest margins at 37.4% gross in Jun 2022, 16.4% operating in Sep 2025, 26.2% EBITDA in Mar 2022, and 10.1% net in Sep 2021.