Waste Management (WM) FY2023 results: revenue $20.4 billion, up 3.7% on the year
Waste Management Inc. (WM) reported revenue of $20.4 billion for fiscal 2023, the year ended 31 December 2023, up 3.7% on the year before. Net income was $2.3 billion, up 2.9%, and diluted earnings per share $5.66. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2024.
Revenue
$20.4 billion
+3.7% on the year
FY2016FY2023
Operating margin
17.5%
17.1% a year earlier
FY2016FY2023
Net income
$2.3 billion
+2.9% on the year
FY2016FY2023
Diluted EPS
$5.66
+5.0% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,719
4,536
4,338
+4.0%
Capital expenditure
2,895
2,587
1,904
+11.9%
Free cash flow
1,824
1,949
2,434
-6.4%
Free cash flow margin
8.9%
9.9%
13.6%
Cash from investing
-3,091
-3,063
-1,894
Cash from financing
-1,524
-1,216
-2,900
Depreciation and amortisation
2,071
2,038
1,999
+1.6%
Share-based compensation
93.0
84.0
108
+10.7%
Buybacks
1,302
1,500
1,350
-13.2%
Dividends paid
1,136
1,077
970
+5.5%
Dividend per share
$2.80
$2.60
$2.30
+7.7%
Diluted shares, weighted
407m
415m
423m
-2.0%
Shares outstanding at period end
402m
408m
416m
-1.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,903
6,849
7,124
+0.8%
Non-controlling interest
-7.0
15.0
2.0
Debt
16,229
14,984
13,405
+8.3%
Operating lease liabilities
452
460
459
-1.7%
Finance lease liabilities
321
258
291
+24.4%
Other liabilities
8,925
8,801
7,816
+1.4%
Total liabilities and equity
32,823
31,367
29,097
+4.6%
Goodwill
9,254
9,323
9,028
-0.7%
Intangible assets
759
827
898
-8.2%
Cash and equivalents
458
351
118
+30.5%
Receivables
2,633
2,461
2,278
+7.0%
Other assets
19,719
18,405
16,775
+7.1%
Total assets
32,823
31,367
29,097
+4.6%
10-K for the year ended 31 December 2023, filed 13 February 2024: the filing.