Waste Management
Waste Management returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 10.84% | 11.22% | — | 29.83% | 6.19% | 6.4 pp |
| FY 2026 Q1 | Mar 31, 2026 | 10.74% | 11.06% | 56.97% | 29.93% | 6.2% | 6.3 pp |
| FY 2025 Q4 | Dec 31, 2025 | 10.57% | 10.96% | 18.93% | 29.69% | 5.99% | 6.2 pp |
| FY 2025 Q3 | Sep 30, 2025 | 11.54% | 11.66% | 2.9% | 29.31% | 6.38% | 7.1 pp |
| FY 2025 Q2 | Jun 30, 2025 | 11.81% | 12.05% | 4.7% | 32.67% | 6.83% | 7.4 pp |
| FY 2025 Q1 | Mar 31, 2025 | 11.67% | 11.97% | 3.46% | 34.01% | 6.93% | 7.3 pp |
| FY 2024 Q4 | Dec 31, 2024 | 11.86% | 12.15% | 5.86% | 36.24% | 7.1% | 7.5 pp |
| FY 2024 Q3 | Sep 30, 2024 | 13.06% | 13.63% | 17.31% | 35.38% | 7.92% | 8.7 pp |
| FY 2024 Q2 | Jun 30, 2024 | 12.74% | 13.39% | 14.66% | 35.42% | 7.75% | 8.3 pp |
| FY 2024 Q1 | Mar 31, 2024 | 12.91% | 13.41% | 28.34% | 35.73% | 7.75% | 8.5 pp |
| FY 2023 Q4 | Dec 31, 2023 | 12.2% | 12.87% | 9.42% | 33.51% | 7.18% | 7.8 pp |
| FY 2023 Q3 | Sep 30, 2023 | 12.58% | 13.23% | 12.3% | 33.09% | 7.48% | 8.2 pp |
| FY 2023 Q2 | Jun 30, 2023 | 12.49% | 12.93% | 14.24% | 32.43% | 7.41% | 8.1 pp |
| FY 2023 Q1 | Mar 31, 2023 | 12.38% | 12.95% | 17.07% | 32.4% | 7.46% | 8 pp |
| FY 2022 Q4 | Dec 31, 2022 | 12.33% | 12.95% | 26.72% | 32.03% | 7.4% | 7.9 pp |
| FY 2022 Q3 | Sep 30, 2022 | 12.45% | 13.08% | 36.46% | 31.66% | 7.65% | 8 pp |
| FY 2022 Q2 | Jun 30, 2022 | 11.91% | 12.3% | 233.58% | 29.49% | 7.25% | 7.5 pp |
| FY 2022 Q1 | Mar 31, 2022 | 11.63% | 12.04% | 1,158.3% | 26.19% | 6.55% | 7.2 pp |
| FY 2021 Q4 | Dec 31, 2021 | 11.15% | 11.67% | — | 24.92% | 6.21% | 6.8 pp |
| FY 2021 Q3 | Sep 30, 2021 | 12.17% | 12.42% | 9.25% | 24.4% | 6.52% | 7.8 pp |
| FY 2021 Q2 | Jun 30, 2021 | 11.48% | 12.01% | 3.59% | 22.47% | 5.75% | 7.1 pp |
| FY 2021 Q1 | Mar 31, 2021 | 10.4% | 10.07% | -6.08% | 21.96% | 5.53% | 6 pp |
| FY 2020 Q4 | Dec 31, 2020 | 10.2% | 9.66% | -6.06% | 20.61% | 5.24% | 5.8 pp |
| FY 2020 Q3 | Sep 30, 2020 | 11.45% | 10.57% | — | 21.59% | 5.8% | 7 pp |
| FY 2020 Q2 | Jun 30, 2020 | 11.94% | 11.32% | -291.66% | 24.11% | 6.12% | 7.5 pp |
| FY 2020 Q1 | Mar 31, 2020 | 12.75% | 12.12% | -29.6% | 25.6% | 6.66% | 8.4 pp |
| FY 2019 Q4 | Dec 31, 2019 | 12.92% | 12.26% | -14.25% | 25.03% | 6.63% | 8.5 pp |
| FY 2019 Q3 | Sep 30, 2019 | 13.26% | 12.91% | -47.74% | 26.93% | 7.06% | 8.9 pp |
| FY 2019 Q2 | Jun 30, 2019 | 13.48% | 13.3% | -32.57% | 28.08% | 7.32% | 9.1 pp |
| FY 2019 Q1 | Mar 31, 2019 | 13.81% | 14.56% | -22.03% | 30.11% | 8.25% | 9.4 pp |
| FY 2018 Q4 | Dec 31, 2018 | 14.22% | 14.64% | -12% | 31.32% | 8.66% | 9.8 pp |
| FY 2018 Q3 | Sep 30, 2018 | 17.66% | 14.65% | 67.6% | 39.89% | 10.55% | 13.3 pp |
| FY 2018 Q2 | Jun 30, 2018 | 17.03% | 14.83% | 78.59% | 37.85% | 10.19% | 12.6 pp |
| FY 2018 Q1 | Mar 31, 2018 | 15.89% | 14.59% | 62.27% | 35.41% | 9.58% | 11.5 pp |
| FY 2017 Q4 | Dec 31, 2017 | 15.58% | 14.39% | 93.96% | 34.45% | 9.13% | 11.2 pp |
| FY 2017 Q3 | Sep 30, 2017 | 11.37% | 14.25% | — | 25.97% | 6.62% | 7 pp |
| FY 2017 Q2 | Jun 30, 2017 | 10.83% | 13.37% | — | 24.26% | 6.24% | 6.4 pp |
| FY 2017 Q1 | Mar 31, 2017 | 10.49% | 12.92% | — | 22.61% | 5.9% | 6.1 pp |
| FY 2016 Q4 | Dec 31, 2016 | 10.29% | 12.76% | 12.52% | 22.21% | 5.73% | 5.9 pp |
| FY 2016 Q3 | Sep 30, 2016 | 9.91% | 12.1% | -126.31% | 21.14% | 5.43% | 5.5 pp |
| FY 2016 Q2 | Jun 30, 2016 | 10.11% | 12.33% | -98.91% | 21.77% | 5.58% | 5.7 pp |
| FY 2016 Q1 | Mar 31, 2016 | 9.79% | 11.53% | -138.52% | 21.03% | 5.49% | 5.4 pp |
| FY 2015 Q4 | Dec 31, 2015 | 10.24% | 11.41% | -104.78% | 13.43% | 3.6% | 5.8 pp |
| FY 2015 Q3 | Sep 30, 2015 | 13.13% | 12.62% | — | 20.19% | 5.05% | 8.7 pp |
| FY 2015 Q2 | Jun 30, 2015 | 12.9% | 12.01% | — | 17.88% | 4.78% | 8.5 pp |
| FY 2015 Q1 | Mar 31, 2015 | 12.14% | 12.11% | — | 16.67% | 4.44% | 7.7 pp |
| FY 2014 Q4 | Dec 31, 2014 | 11.64% | 12.26% | — | 22.43% | 6.08% | 7.2 pp |
| FY 2014 Q3 | Sep 30, 2014 | 1.79% | 5.81% | — | 1.71% | 0.5% | -2.6 pp |
| FY 2014 Q2 | Jun 30, 2014 | 1.94% | 5.96% | — | 2.01% | 0.55% | -2.5 pp |
| FY 2014 Q1 | Mar 31, 2014 | 2.39% | 5.87% | — | 2.6% | 0.69% | -2 pp |
| FY 2013 Q4 | Dec 31, 2013 | 1.74% | 5.44% | — | 1.63% | 0.43% | -2.7 pp |
| FY 2013 Q3 | Sep 30, 2013 | 7.94% | 9.71% | 6.58% | 14.27% | 3.97% | 3.5 pp |
| FY 2013 Q2 | Jun 30, 2013 | 7.74% | 9.6% | -16.29% | 13.41% | 3.72% | 3.3 pp |
| FY 2013 Q1 | Mar 31, 2013 | 7.5% | 9.39% | -43.35% | 12.97% | 3.56% | 3.1 pp |
| FY 2012 Q4 | Dec 31, 2012 | 7.57% | 9.36% | -24.47% | 13.15% | 3.58% | 3.2 pp |
| FY 2012 Q3 | Sep 30, 2012 | 7.97% | 9.74% | — | 14.04% | 3.81% | 3.6 pp |
| FY 2012 Q2 | Jun 30, 2012 | 8.39% | 10.12% | — | 14.72% | 4.14% | 4 pp |
| FY 2012 Q1 | Mar 31, 2012 | 8.58% | 10.33% | — | 15.19% | 4.28% | 4.2 pp |
| FY 2011 Q4 | Dec 31, 2011 | 8.73% | 10.54% | 4.98% | 15.59% | 4.36% | 4.3 pp |
| FY 2011 Q3 | Sep 30, 2011 | — | 10.63% | — | 16.19% | 4.5% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 10.74% | — | 15.3% | 4.37% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | 11.33% | — | 15.27% | 4.49% | — |
| FY 2010 Q4 | Dec 31, 2010 | 8.88% | 11.36% | -9.13% | 15.19% | 4.47% | 4.5 pp |
| FY 2010 Q3 | Sep 30, 2010 | — | 10.91% | — | 16.02% | 4.73% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | 10.75% | — | 16.77% | 4.87% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 4.4%, rounded from the Utility · General benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · WM, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.