Waste Management

WM routinely lifts price above cost inflation by applying core price increases, indexing fees to CPI or fuel, and leveraging scarcity of disposal capacity in certain regions. In Q2 2025, core price was about 6.4 percent with collection and disposal yield around 4.1 percent, while volumes still grew.

Landfill capacity constraints in several metro areas enhance the ability to price rationally. Offsets: municipal contracts can cap increases, recycling and RNG have commodity exposure, and healthcare services pricing must navigate regulation. Net, the company demonstrates durable pricing power supported by asset scarcity and route density.