Waste Management (WM) FY2021 results: revenue $17.9 billion, up 17.8% on the year
Waste Management Inc. (WM) reported revenue of $17.9 billion for fiscal 2021, the year ended 31 December 2021, up 17.8% on the year before. Net income was $1.8 billion, up 21.4%, and diluted earnings per share $4.29. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2022.
Revenue
$17.9 billion
+17.8% on the year
FY2014FY2021
Operating margin
16.5%
16.0% a year earlier
FY2014FY2021
Net income
$1.8 billion
+21.4% on the year
FY2014FY2021
Diluted EPS
$4.29
+21.9% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,338
3,403
3,874
+27.5%
Capital expenditure
1,904
1,632
1,818
+16.7%
Free cash flow
2,434
1,771
2,056
+37.4%
Free cash flow margin
13.6%
11.6%
13.3%
Cash from investing
-1,894
-4,847
-2,376
Cash from financing
-2,900
-1,559
1,964
Depreciation and amortisation
1,999
1,671
1,574
+19.6%
Share-based compensation
108
94.0
86.0
+14.9%
Buybacks
1,350
402
248
+235.8%
Dividends paid
970
927
876
+4.6%
Dividend per share
$2.30
$2.18
$2.05
+5.5%
Diluted shares, weighted
423m
425m
428m
-0.5%
Shares outstanding at period end
416m
423m
424m
-1.6%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
7,124
7,452
7,068
-4.4%
Non-controlling interest
2.0
2.0
2.0
0.0%
Debt
13,405
13,810
13,498
-2.9%
Operating lease liabilities
459
453
366
+1.3%
Finance lease liabilities
291
314
323
-7.3%
Other liabilities
7,816
7,314
6,486
+6.9%
Total liabilities and equity
29,097
29,345
27,743
-0.8%
Fixed assets
n/a
n/a
12,893
Goodwill
9,028
8,994
6,532
+0.4%
Intangible assets
898
1,024
521
-12.3%
Cash and equivalents
118
553
3,561
-78.7%
Receivables
2,278
2,097
1,949
+8.6%
Other assets
16,775
16,677
2,287
+0.6%
Total assets
29,097
29,345
27,743
-0.8%
10-K for the year ended 31 December 2021, filed 15 February 2022: the filing.