Waste Management (WM) FY2017 results: revenue $14.5 billion, up 6.4% on the year
Waste Management Inc. (WM) reported revenue of $14.5 billion for fiscal 2017, the year ended 31 December 2017, up 6.4% on the year before. Net income was $1.9 billion, up 64.9%, and diluted earnings per share $4.41. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$14.5 billion
+6.4% on the year
FY2010FY2017
Operating margin
18.2%
16.9% a year earlier
FY2010FY2017
Net income
$1.9 billion
+64.9% on the year
FY2010FY2017
Diluted EPS
$4.41
+66.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
14,485
13,609
12,961
+6.4%
Cost of revenue
9,021
8,486
8,231
+6.3%
Gross profit
5,464
5,123
4,730
+6.7%
Gross margin
37.7%
37.6%
36.5%
Selling, general and administrative
1,468
1,410
1,343
+4.1%
Operating income
2,636
2,296
2,045
+14.8%
Operating margin
18.2%
16.9%
15.8%
Interest expense
363
376
385
-3.5%
Pre-tax income
2,191
1,822
1,060
+20.3%
Income tax
242
642
308
-62.3%
Effective tax rate
11.0%
35.2%
29.1%
Net income
1,949
1,182
753
+64.9%
Net margin
13.5%
8.7%
5.8%
Diluted EPS
$4.41
$2.65
$1.65
+66.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
3,180
3,006
2,528
+5.8%
Capital expenditure
1,509
1,339
1,229
+12.7%
Free cash flow
1,671
1,667
1,299
+0.2%
Free cash flow margin
11.5%
12.2%
10.0%
Cash from investing
-1,620
-1,932
-1,608
Cash from financing
-1,361
-1,084
-2,185
Depreciation and amortisation
1,376
1,301
1,245
+5.8%
Share-based compensation
101
90.0
72.0
+12.2%
Buybacks
750
725
600
+3.4%
Dividends paid
750
726
695
+3.3%
Dividend per share
$1.70
$1.64
$1.54
+3.7%
Diluted shares, weighted
442m
446m
456m
-1.0%
Shares outstanding at period end
433m
439m
447m
-1.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,019
5,297
5,345
+13.6%
Non-controlling interest
23.0
23.0
22.0
0.0%
Debt
9,491
9,310
8,929
+1.9%
Other liabilities
6,296
6,229
6,071
+1.1%
Total liabilities and equity
21,829
20,859
20,367
+4.7%
Fixed assets
11,559
10,950
10,665
+5.6%
Goodwill
6,247
6,215
5,984
+0.5%
Intangible assets
547
591
477
-7.4%
Cash and equivalents
22.0
32.0
39.0
-31.2%
Receivables
1,805
1,700
1,549
+6.2%
Other assets
1,649
1,371
1,653
+20.3%
Total assets
21,829
20,859
20,367
+4.7%
10-K for the year ended 31 December 2017, filed 15 February 2018: the filing.