Waste Management (WM) FY2015 results: revenue $13.0 billion, down 7.4% on the year
Waste Management Inc. (WM) reported revenue of $13.0 billion for fiscal 2015, the year ended 31 December 2015, down 7.4% on the year before. Net income was $753 million, down 42.0%, and diluted earnings per share $1.65. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2016.
Revenue
$13.0 billion
-7.4% on the year
FY2008FY2015
Operating margin
15.8%
16.4% a year earlier
FY2008FY2015
Net income
$753 million
-42.0% on the year
FY2008FY2015
Diluted EPS
$1.65
-40.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
12,961
13,996
13,983
-7.4%
Cost of revenue
8,231
9,002
9,112
-8.6%
Gross profit
4,730
4,994
4,871
-5.3%
Gross margin
36.5%
35.7%
34.8%
Selling, general and administrative
1,343
1,481
1,468
-9.3%
Operating income
2,045
2,299
1,079
-11.0%
Operating margin
15.8%
16.4%
7.7%
Interest expense
385
466
500
-17.4%
Pre-tax income
1,060
1,751
494
-39.5%
Income tax
308
413
364
-25.4%
Effective tax rate
29.1%
23.6%
73.7%
Net income
753
1,298
98.0
-42.0%
Net margin
5.8%
9.3%
0.7%
Diluted EPS
$1.65
$2.79
$0.21
-40.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,528
2,331
2,455
+8.5%
Capital expenditure
1,229
1,181
1,267
+4.1%
Free cash flow
1,299
1,150
1,188
+13.0%
Free cash flow margin
10.0%
8.2%
8.5%
Cash from investing
-1,608
n/a
-1,900
Cash from financing
-2,185
n/a
-687
Depreciation and amortisation
1,245
1,292
1,333
-3.6%
Share-based compensation
72.0
65.0
58.0
+10.8%
Buybacks
600
600
239
0.0%
Dividends paid
695
693
683
+0.3%
Dividend per share
$1.54
$1.50
$1.46
+2.7%
Diluted shares, weighted
456m
466m
470m
-2.1%
Shares outstanding at period end
447m
458m
464m
-2.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
5,345
5,866
5,707
-8.9%
Non-controlling interest
22.0
23.0
295
-4.3%
Debt
8,929
9,435
10,226
-5.4%
Other liabilities
6,071
5,928
6,262
+2.4%
Total liabilities and equity
20,367
21,252
22,490
-4.2%
Fixed assets
10,665
10,657
12,344
+0.1%
Goodwill
5,984
5,740
6,070
+4.3%
Intangible assets
477
440
529
+8.4%
Investments
n/a
n/a
177
Cash and equivalents
39.0
1,307
58.0
-97.0%
Receivables
1,549
1,587
1,699
-2.4%
Other assets
1,653
1,521
1,613
+8.7%
Total assets
20,367
21,252
22,490
-4.2%
10-K for the year ended 31 December 2015, filed 18 February 2016: the filing.