Waste Management, Inc. Financial Ratios — WM Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	14.63	12	1.49	19.68	10.88	16.49	24.38	20.93	16.37	13.75	15.67	17.77	16.75	18.18	16.36
Return on Assets (%)	4.36	3.58	0.43	5.91	3.61	5.73	9.13	8.66	6.63	5.24	6.21	7.4	7.18	7.1	5.99
Return on Capital (%)	7.6	6.45	1.13	9.73	6.37	8.75	13.04	11.75	9.08	7.47	8.32	9.43	9.22	9.16	8.58
Return on Invested Capital (%)	8.64	8.09	3.33	10.78	10.28	10.82	15.48	13.93	11.88	9.38	10.96	12.43	12.82	11.96	11.24
Gross Margin (%)	36.16	34.95	34.84	35.68	36.49	37.64	37.72	37.98	38.56	38.62	38.03	37.59	38.28	39.34	40.44
EBITDA Margin (%)	24.56	24.16	24.34	25.1	26.13	27.28	27.59	28.24	28	27.26	27.64	27.75	28.86	29.08	29.64
Operating Margin (%)	15.38	14.66	14.8	15.87	16.53	17.72	18.09	18.34	17.82	16.28	16.49	17.4	18.72	18.81	18.28
Incremental Operating Margin (%)	2.43	-20.66	20.66	1,161.54	7.63	41.67	23.74	26.81	3.51	116.46	17.66	26.66	54.26	19.91	14.58
Pretax Margin (%)	11.36	9.55	3.53	12.51	8.18	13.39	15.13	15.93	13.62	12.44	13.1	14.81	14.79	15.67	13.59
Profit Margin (%)	7.18	5.99	0.7	9.27	5.81	8.69	13.46	12.91	10.81	9.83	10.13	11.36	11.28	12.45	10.74
Net Income to Common Margin (%)	7.18	5.99	0.7	9.27	5.81	8.69	13.46	12.91	10.81	9.83	10.13	11.36	11.28	12.45	10.74
Effective Tax Rate (%)	33.62	34	73.68	23.59	29.06	35.24	11.05	19.07	20.62	20.97	22.65	23.24	24.66	20.62	20.93
Dvd Payout Ratio (%)	60.26	72.87	421.6	50.29	92.54	61.63	38.48	41.75	52.39	61.97	53.36	48.04	50.53	44.1	49.23
Sustainable Growth Rate (%)	5.82	3.26	-4.78	9.78	0.81	6.33	15	12.19	7.79	5.23	7.31	9.24	8.28	10.16	8.31

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	9,756	9,916	10,226	9,435	8,929	9,310	9,491	10,026	13,498	13,810	13,405	14,984	16,229	23,900	22,907
ST Debt	631	743	726	1,090	253	417	739	432	218	551	708	414	334	1,359	711
LT Debt	9,125	9,173	9,500	8,345	8,676	8,893	8,752	9,594	13,280	13,259	12,697	14,570	15,895	22,541	22,196
Total Debt/EBITDA	2.97	3.01	3	2.69	2.64	2.51	2.38	2.38	3.12	3.33	2.7	2.74	2.75	3.73	3.07
Net Debt/EBITDA	2.89	2.95	2.99	2.31	2.62	2.5	2.37	2.37	2.3	3.2	2.68	2.68	2.68	3.66	3.04
Total Debt/EBIT	4.74	4.96	4.94	4.25	4.17	3.86	3.62	3.67	4.9	5.57	4.53	4.37	4.25	5.76	4.97
Net Debt/EBIT	4.62	4.86	4.91	3.66	4.15	3.85	3.61	3.64	3.61	5.35	4.49	4.27	4.13	5.66	4.93
EBITDA to Interest Expense	6.83	6.81	7.13	7.54	8.8	9.88	11.01	11.26	10.53	9.76	13.58	14.46	11.79	10.73	8.19
EBITDA-CapEx/Interest Expense	6.83	6.81	7.13	7.54	8.8	9.88	11.01	11.26	10.53	9.76	13.58	14.46	11.79	10.73	8.19
EBIT to Interest Expense	4.28	4.13	4.34	4.77	5.56	6.41	7.22	7.31	6.7	5.83	8.1	9.07	7.65	6.94	5.05
Interest Expense	481	484	477	466	385	376	363	374	411	425	365	378	500	598	912
Common Equity/Total Assets	29.81	29.81	27.85	32.37	34.1	35.45	39.37	43.28	38.2	38.05	41.28	42	43.69	35.6	37.61
Long-Term Debt/Equity (%)	142.8	137.42	158.28	141.7	161.65	167.16	144.85	152.87	187.84	177.88	178.18	212.27	230.5	273.09	222.16
Long-Term Debt/Capital (%)	54.31	53.57	56.49	51.03	54.58	53.17	48.33	48.38	55.11	53.08	49.95	51.72	52.01	56.68	55.29
Long-Term Debt/Total Assets (%)	40.43	39.72	42.03	39.18	42.6	42.63	40.09	42.36	47.87	45.18	43.64	46.45	48.43	50.58	48.43
Total Debt/Equity (%)	152.68	148.55	170.38	160.21	166.37	175	157.08	159.75	190.92	185.27	188.11	218.3	235.34	289.56	229.28
Total Debt/Capital (%)	58.06	57.91	60.81	57.7	56.17	55.66	52.41	50.56	56.01	55.29	52.74	53.19	53.1	60.1	57.06
Total Debt/Total Assets (%)	43.23	42.93	45.24	44.3	43.84	44.63	43.48	44.26	48.65	47.06	46.07	47.77	49.44	53.63	49.98
Net Debt to Equity	148.64	145.65	169.41	138.02	165.64	174.4	156.72	158.78	140.55	177.85	186.46	213.18	228.7	284.54	227.26
Net Debt/Capital (%)	57.41	57.43	60.68	54.02	56.06	55.57	52.36	50.41	48.39	54.28	52.52	52.6	52.39	59.68	56.84
EBITDA	3,286	3,298	3,403	3,513	3,387	3,713	3,996	4,212	4,328	4,149	4,956	5,466	5,894	6,416	7,470
EBITDA-CapEx	3,286	3,298	3,403	3,513	3,387	3,713	3,996	4,212	4,328	4,149	4,956	5,466	5,894	6,416	7,470
Operating Income (Loss)	2,057	2,001	2,070	2,221	2,142	2,412	2,620	2,735	2,754	2,478	2,957	3,428	3,823	4,149	4,607

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.08	0.06	0.08	0.38	0.02	0.01	0.01	0.02	1.13	0.16	0.03	0.08	0.11	0.07	0.04
Current Ratio	0.78	0.8	0.83	1.01	0.93	0.85	0.83	0.85	1.97	1	0.75	0.81	0.9	0.76	0.89
Quick Ratio	0.66	0.67	0.68	0.93	0.85	0.77	0.73	0.75	1.87	0.89	0.65	0.71	0.79	0.66	0.77
CFO/Avg Current Liab	0.89	0.75	0.81	0.72	0.84	1.13	1.05	1.12	1.24	1.02	1.14	1.07	1.09	1.03	1.03
Common Equity/Total Assets	29.81	29.81	27.85	32.37	34.1	35.45	39.37	43.28	38.2	38.05	41.28	42	43.69	35.6	37.61
Long-Term Debt/Equity (%)	142.8	137.42	158.28	141.7	161.65	167.16	144.85	152.87	187.84	177.88	178.18	212.27	230.5	273.09	222.16
Long-Term Debt/Capital (%)	54.31	53.57	56.49	51.03	54.58	53.17	48.33	48.38	55.11	53.08	49.95	51.72	52.01	56.68	55.29
Long-Term Debt/Total Assets (%)	40.43	39.72	42.03	39.18	42.6	42.63	40.09	42.36	47.87	45.18	43.64	46.45	48.43	50.58	48.43
Total Debt/Equity (%)	152.68	148.55	170.38	160.21	166.37	175	157.08	159.75	190.92	185.27	188.11	218.3	235.34	289.56	229.28
Total Debt/Capital (%)	58.06	57.91	60.81	57.7	56.17	55.66	52.41	50.56	56.01	55.29	52.74	53.19	53.1	60.1	57.06
Total Debt/Total Assets (%)	43.23	42.93	45.24	44.3	43.84	44.63	43.48	44.26	48.65	47.06	46.07	47.77	49.44	53.63	49.98
CFO/Total Liabilities	15.26	13.98	14.79	15.13	16.85	19.33	20.14	21.8	18.74	15.55	19.74	18.51	18.2	14.84	16.86
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	2.38	2.35	2.57	2.98	3.09	3.45	3.73	3.77	3.49	3.39	4.17	3.87	3.99	3.42	3.74

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	8.52	8.11	8.14	8.52	8.27	8.38	8.27	7.98	7.97	7.52	8.2	8.31	8.02	7.47	7.52
Days Sales Outstanding	42.85	45.03	44.85	42.85	44.16	43.57	44.16	45.72	45.82	48.52	44.53	43.91	45.51	48.84	48.56
Inventory Turnover	60.36	54.31	51.77	63.39	83.14	93.25	97	93.42	91.31	81.23	85.8	82.23	74.81	70.62	69.66
Days Inventory Outstanding	6.05	6.72	7.05	5.76	4.39	3.91	3.76	3.91	4	4.49	4.25	4.44	4.88	5.17	5.24
Accounts Payable Turnover	11.19	10.6	11.5	12.04	11.25	11.16	9.82	8.91	9.04	8.56	8.91	7.85	7.26	7.15	7.68
Accounts Payable Turnover Days	32.6	34.45	31.75	30.33	32.45	32.7	37.18	40.96	40.38	42.63	40.96	46.52	50.27	51.08	47.51
Cash Conversion Cycle	16.29	17.31	20.14	18.28	16.1	14.79	10.74	8.67	9.43	10.39	7.83	1.83	0.12	2.93	6.29
Inventory to Cash Days	36.8	38.31	37.8	37.09	39.77	39.66	40.4	41.81	41.82	44.03	40.27	39.47	40.63	43.68	43.33
Inventories	153	174	178	106	92	90	96	102	106	124	135	164	173	206	225
Raw Materials	153	174	178	106	92	90	96	102	106	124	135	164	173	206	225
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	15,364	15,642	20,986	23,741	24,161	31,449	37,868	38,186	48,387	49,884	70,165	64,760	72,518	81,019	88,477
- Cash & Cash Equivalents	258	194	58	1,307	39	32	22	61	3,561	553	118	351	458	414	201
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	320	321	295	23	22	23	23	1	2	2	2	15	-7	2	1
+ Total Debt	9,756	9,916	10,226	9,435	8,929	9,310	9,491	10,026	13,498	13,810	13,405	14,984	16,229	23,900	22,907
Enterprise Value	25,182	25,685	31,272	31,892	33,073	40,750	47,360	48,152	58,326	63,143	83,454	79,408	88,282	104,507	111,184
Total Capital	16,803	17,122	16,816	16,352	15,896	16,727	18,108	19,830	24,098	24,977	25,417	28,172	30,562	39,766	40,146
Total Debt/Capital (%)	58.06	57.91	60.81	57.7	56.17	55.66	52.41	50.56	56.01	55.29	52.74	53.19	53.1	60.1	57.06
Total Debt / EV	0.39	0.39	0.33	0.3	0.27	0.23	0.2	0.21	0.23	0.22	0.16	0.19	0.18	0.23	0.21
EV/Sales	1.88	1.88	2.24	2.28	2.55	2.99	3.27	3.23	3.77	4.15	4.65	4.03	4.32	4.74	4.41
EV/EBITDA	7.66	7.79	9.19	9.08	9.76	10.97	11.85	11.43	13.48	15.22	16.84	14.53	14.98	16.29	14.88
EV/EBIT	12.24	12.84	15.11	14.36	15.44	16.89	18.08	17.61	21.18	25.48	28.22	23.16	23.09	25.19	24.13
EV/Cash Flow to Firm	9.03	9.82	12.12	11.87	11.81	12.55	13.52	12.43	13.89	16.89	18.06	16.45	17.32	17.82	16.44
EV/Free Cash Flow to Firm	9.03	9.82	12.12	11.87	11.81	12.55	13.52	12.43	13.89	16.89	18.06	16.45	17.32	17.82	16.44
Diluted Market Cap	15,419	15,669	21,080	23,895	24,331	31,661	38,136	38,461	48,718	50,132	70,582	65,105	72,876	81,402	88,807
Diluted Enterprise Value	25,237	25,712	31,543	32,046	33,243	40,962	47,628	48,427	58,657	63,391	83,871	79,753	88,640	104,890	111,514
EV per Share	53.61	55.4	66.86	68.94	73.06	91.88	107.93	112.22	137.37	149.28	198.51	192.36	218.03	260.29	276.1
TTM Sales	13,378	13,649	13,983	13,996	12,961	13,609	14,485	14,914	15,455	15,218	17,931	19,698	20,426	22,063	25,204
TTM EBITDA	3,286	3,298	3,403	3,513	3,387	3,713	3,996	4,212	4,328	4,149	4,956	5,466	5,894	6,416	7,470
TTM Operating Income	2,057	2,001	2,070	2,221	2,142	2,412	2,620	2,735	2,754	2,478	2,957	3,428	3,823	4,149	4,607
TTM Cash Flow to Firm	2,788	2,614	2,581	2,687	2,801	3,247	3,503	3,873	4,200	3,739	4,620	4,826	5,096	5,865	6,764
TTM Free Cash Flow to Firm	2,788	2,614	2,581	2,687	2,801	3,247	3,503	3,873	4,200	3,739	4,620	4,826	5,096	5,865	6,764

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	6.25	6.83	8.59	10.25	9.62	10.54	11.99	10.77	12.58	14.73	16.27	14.35	15.44	15.1	14.7
EV/EBIT	12.24	12.84	15.11	14.36	15.44	16.89	18.08	17.61	21.18	25.48	28.22	23.16	23.09	25.19	24.13
Enterprise Value	25,182	25,685	31,272	31,892	33,073	40,750	47,360	48,152	58,326	63,143	83,454	79,408	88,282	104,507	111,184
Low Price	27.75	30.82	33.7	40.35	45.86	50.36	69	78.39	87.32	85.34	109.11	138.58	148.31	176.68	194.11
EV/Sales	1.88	1.88	2.24	2.28	2.55	2.99	3.27	3.23	3.77	4.15	4.65	4.03	4.32	4.74	4.41
EV/EBITDA	7.66	7.79	9.19	9.08	9.76	10.97	11.85	11.43	13.48	15.22	16.84	14.53	14.98	16.29	14.88
Price/Earnings	15.99	19.15	214.14	18.29	32.09	26.61	19.43	19.84	28.97	33.35	38.64	28.94	31.47	29.5	32.67
Price/Earnings Average	17.1	19.1	193.75	16.04	31.02	23.28	16.98	19.34	27.74	31.3	32.8	29.26	28.47	30.28	33.15
Price/Earnings High	19.4	20.63	221.35	18.51	33.62	26.93	19.56	21.29	30.96	35.85	38.9	32.46	31.6	33.69	36.07
Price/Earnings Low	13.56	17.49	160.83	14.38	27.57	18.9	15.53	17.47	22.2	24.13	25.26	25.56	26.06	25.83	28.87
Price/Book Value	2.28	2.27	3.33	3.44	3.48	4.25	4.41	3.9	4.57	4.47	5.84	4.92	5.06	5.11	5.13
Price/Book Value Average	2.44	2.27	3.02	3.02	3.36	3.72	3.85	3.8	4.37	4.19	4.96	4.97	4.57	5.24	5.21
Price/Book Value High	2.77	2.45	3.45	3.49	3.65	4.31	4.44	4.18	4.88	4.8	5.88	5.51	5.08	5.83	5.67
Price/Book Value Low	1.94	2.08	2.5	2.71	2.99	3.02	3.52	3.43	3.5	3.23	3.82	4.34	4.19	4.47	4.53
Price/Tangible Book Value	-54.48	-1,203.22	-35.15	-81.58	-22.08	-21.16	-50.36	-52.6	2,846.32	-19.46	-25.06	-19.71	-23.12	-8.64	-11.56
Price/Tangible Book Value Average	-58.26	-1,200.21	-31.8	-71.56	-21.35	-18.51	-44	-51.28	2,724.57	-18.26	-21.27	-19.93	-20.92	-8.87	-11.72
Price/Tangible Book Value High	-66.11	-1,296.3	-36.33	-82.58	-23.14	-21.42	-50.7	-56.44	3,041.38	-20.92	-25.23	-22.11	-23.21	-9.87	-12.76
Price/Tangible Book Value Low	-46.22	-1,099.09	-26.4	-64.14	-18.98	-15.03	-40.26	-46.33	2,180.95	-14.08	-16.38	-17.41	-19.15	-7.57	-10.21
Price/Sales	1.15	1.15	1.5	1.7	1.86	2.31	2.61	2.56	3.13	3.28	3.91	3.29	3.55	3.67	3.51
Price/Sales Average	1.23	1.14	1.36	1.49	1.8	2.02	2.28	2.5	3	3.08	3.32	3.32	3.21	3.77	3.56
Price/Sales High	1.39	1.23	1.55	1.72	1.95	2.34	2.63	2.75	3.35	3.52	3.94	3.69	3.56	4.19	3.88
Price/Sales Low	0.97	1.05	1.13	1.33	1.6	1.64	2.09	2.26	2.4	2.37	2.56	2.9	2.94	3.22	3.1
Price/Cash Flow	6.22	6.82	8.55	10.18	9.56	10.47	11.91	10.7	12.49	14.66	16.17	14.28	15.37	15.03	14.64
Price/Cash Flow Average	6.65	6.8	7.73	8.93	9.24	9.16	10.41	10.43	11.96	13.76	13.73	14.43	13.9	15.42	14.85
Price/Cash Flow High	7.55	7.34	8.84	10.31	10.02	10.6	11.99	11.48	13.35	15.76	16.28	16.02	15.43	17.16	16.17
Price/Cash Flow Low	5.28	6.23	6.42	8.01	8.21	7.44	9.52	9.42	9.57	10.61	10.57	12.61	12.73	13.16	12.94
Price/Free Cash Flow Average	6.68	6.81	7.77	8.99	9.31	9.22	10.48	10.5	12.04	13.83	13.81	14.51	13.97	15.5	14.91
Price/Free Cash Flow High	7.58	7.36	8.88	10.38	10.09	10.67	12.07	11.56	13.44	15.84	16.38	16.1	15.5	17.24	16.23
Price/Free Cash Flow Low	5.3	6.24	6.45	8.06	8.27	7.49	9.59	9.49	9.64	10.66	10.64	12.68	12.79	13.22	12.98
EV/Sales Average	1.96	1.88	2.11	2.07	2.49	2.7	2.94	3.16	3.64	3.95	4.06	4.07	3.98	4.83	4.46
EV/Sales High	2.13	1.97	2.3	2.3	2.64	3.02	3.29	3.42	3.99	4.4	4.68	4.43	4.34	5.26	4.78
EV/Sales Low	1.71	1.78	1.88	1.92	2.29	2.32	2.75	2.92	3.04	3.24	3.3	3.65	3.71	4.28	4
EV/EBITDA Average	7.99	7.78	8.65	8.25	9.53	9.91	10.66	11.2	13	14.48	14.7	14.66	13.8	16.62	15.06
EV/EBITDA High	8.66	8.15	9.45	9.16	10.11	11.08	11.92	12.09	14.24	16.12	16.94	15.97	15.03	18.08	16.12
EV/EBITDA Low	6.95	7.38	7.71	7.63	8.76	8.52	9.95	10.35	10.86	11.9	11.94	13.15	12.86	14.72	13.5
EV/EBIT Average	12.76	12.82	14.23	13.05	15.07	15.26	16.25	17.26	20.43	24.25	24.64	23.37	21.28	25.7	24.41
EV/EBIT High	13.84	13.44	15.53	14.49	15.98	17.05	18.18	18.63	22.38	26.99	28.38	25.46	23.17	27.96	26.13
EV/EBIT Low	11.11	12.16	12.67	12.07	13.85	13.12	15.18	15.94	17.07	19.92	20.01	20.96	19.83	22.76	21.9
Last Price	32.71	33.74	44.87	51.32	53.37	70.91	86.3	88.99	113.96	117.93	166.9	156.88	179.1	201.79	219.71
High Price	39.69	36.35	46.38	51.95	55.93	71.78	86.89	95.49	121.77	126.79	168.04	175.98	179.8	230.39	242.58
Enterprise Value Average	26,247	25,646	29,450	28,976	32,270	36,812	42,581	47,193	56,257	60,088	72,856	80,123	81,363	106,627	112,470
Enterprise Value High	28,460	26,895	32,155	32,183	34,232	41,135	47,619	50,941	61,643	66,891	83,933	87,293	88,565	115,990	120,394
Enterprise Value Low	22,852	24,331	26,224	26,817	29,673	31,636	39,769	43,603	47,015	49,358	59,159	71,854	75,815	94,425	100,875

Shares Outstanding	461	464	464	459	447	439	433	424	424	423	416	408	401	401	403
Diluted Weighted Avg Shares	471	464	470	466	456	446	442	432	428	425	423	415	407	403	404
Basic Weighted Avg Shares	470	464	468	463	453	444	439	429	425	423	420	413	405	402	403
Revenue per Share	28.48	29.44	29.9	30.26	28.63	30.69	33.01	34.76	36.4	35.98	42.65	47.72	50.45	54.95	62.59
EBITDA per Share	7	7.11	7.28	7.59	7.48	8.37	9.11	9.82	10.19	9.81	11.79	13.24	14.56	15.98	18.55
Operating Income per Share	4.38	4.32	4.43	4.8	4.73	5.44	5.97	6.37	6.49	5.86	7.03	8.3	9.44	10.33	11.44
Basic EPS, GAAP	2.05	1.76	0.21	2.81	1.66	2.67	4.44	4.49	3.93	3.54	4.32	5.42	5.69	6.84	6.72
Basic EPS from Cont Ops	2.15	1.86	0.28	2.89	1.66	2.66	4.44	4.48	3.94	3.54	4.32	5.43	5.62	6.84	6.73
Diluted EPS, GAAP	2.04	1.76	0.21	2.79	1.65	2.65	4.41	4.45	3.91	3.52	4.29	5.39	5.66	6.81	6.7
Diluted EPS from Cont Ops	2.14	1.85	0.28	2.87	1.65	2.64	4.41	4.45	3.91	3.52	4.3	5.4	5.59	6.8	6.7
Dividend per Share	1.36	1.42	1.46	1.5	1.54	1.64	1.71	1.87	2.06	2.19	2.31	2.61	2.81	3.01	3.31
Cash Flow per Share	5.26	4.95	5.25	5.04	5.58	6.77	7.25	8.32	9.12	8.04	10.32	10.99	11.65	13.42	15.01
Free Cash Flow per Basic Share	5.26	4.95	5.25	5.04	5.58	6.77	7.25	8.32	9.12	8.04	10.32	10.99	11.65	13.42	15.01
Cash & Equivalents per Share	0.55	0.42	0.5	2.83	0.09	0.07	0.05	0.14	8.39	1.31	0.28	0.85	1.13	1.03	0.5
Book Value per Share	14.32	14.85	13.46	14.9	15.34	16.67	19.59	22.85	24.96	26.39	28.57	31.91	35.42	39.51	42.81
Tangible Book Value per Share	-0.6	-0.03	-1.28	-0.63	-2.42	-3.35	-1.71	-1.69	0.04	-6.06	-6.66	-7.96	-7.75	-23.34	-19.01

Waste Management, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)