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Revenue by Segment
Shows how much revenue each business segment generates, providing a clear picture of the company's diverse operations and which areas are driving growth or facing challenges.
The big step-change in late‑2023 reflects a reporting/reclassification shift — intercompany eliminations drop to zero and “Other” collapses — so the jump in Collection/Transfer/Landfill revenues is partly accounting, not pure organic growth. Management still reports softer Collection & Disposal volumes (net ~‑$250M headwind in 2026, partially offset by ~$175M of surcharges — net ≈$75M) while recycling/RNG and SmartTruck productivity drive margin and cash‑flow gains; focus on margins and cash conversion, not headline revenue comps, for stock momentum.
WM Revenue by Segment
| Date | Other | Collection | Landfill | Transfer | Recycling | Intercompany |
|---|---|---|---|---|---|---|
| Sep 30, 2026 | $15.00M | $4.73B | $1.45B | $726.00M | $530.00M | $0.00 |
| Jun 30, 2026 | $15.00M | $4.64B | $1.43B | $710.00M | $491.00M | $0.00 |
| Mar 31, 2026 | $13.00M | $4.41B | $1.25B | $619.00M | $455.00M | $0.00 |
| Dec 31, 2025 | $13.00M | $4.45B | $1.31B | $666.00M | $449.00M | $0.00 |
| Sep 30, 2025 | $14.00M | $4.48B | $1.40B | $690.00M | $470.00M | $0.00 |
| Jun 30, 2025 | $15.00M | $4.39B | $1.45B | $681.00M | $482.00M | $0.00 |
| Mar 31, 2025 | $10.00M | $4.25B | $1.19B | $592.00M | $465.00M | $0.00 |
| Dec 31, 2024 | $12.00M | $4.28B | $1.23B | $629.00M | $476.00M | $0.00 |
| Sep 30, 2024 | $12.00M | $4.29B | $1.34B | $641.00M | $503.00M | $0.00 |
| Jun 30, 2024 | $12.00M | $4.17B | $1.29B | $618.00M | $475.00M | $0.00 |
| Mar 31, 2024 | $11.00M | $4.06B | $1.15B | $560.00M | $436.00M | $0.00 |
| Dec 31, 2023 | $89.00M | $4.12B | $1.19B | $574.00M | $421.00M | $0.00 |
| Sep 30, 2023 | $678.00M | $3.51B | $1.26B | $594.00M | $366.00M | -$1.22B |
| Jun 30, 2023 | $653.00M | $3.46B | $1.26B | $585.00M | $370.00M | -$1.21B |
| Mar 31, 2023 | $613.00M | $3.37B | $1.15B | $540.00M | $358.00M | -$1.14B |
| Dec 31, 2022 | $620.00M | $3.39B | $1.16B | $541.00M | $360.00M | -$1.13B |
| Sep 30, 2022 | $614.00M | $3.39B | $1.20B | $562.00M | $420.00M | -$1.11B |
| Jun 30, 2022 | $596.00M | $3.31B | $1.19B | $554.00M | $468.00M | -$1.09B |
| Mar 31, 2022 | $575.00M | $3.08B | $1.05B | $486.00M | $453.00M | -$985.00M |
| Dec 31, 2021 | $571.00M | $3.01B | $1.06B | $525.00M | $478.00M | -$966.00M |
| Sep 30, 2021 | $551.00M | $2.98B | $1.10B | $550.00M | $464.00M | -$978.00M |
| Jun 30, 2021 | $513.00M | $2.92B | $1.07B | $532.00M | $397.00M | -$959.00M |
| Mar 31, 2021 | $477.00M | $2.77B | $915.00M | $465.00M | $342.00M | -$859.00M |
| Dec 31, 2020 | $479.00M | $2.69B | $960.00M | $493.00M | $308.00M | -$867.00M |
| Sep 30, 2020 | $458.00M | $2.52B | $946.00M | $482.00M | $290.00M | -$831.00M |
| Jun 30, 2020 | $409.00M | $2.33B | $874.00M | $439.00M | $275.00M | -$761.00M |
| Mar 31, 2020 | $430.00M | $2.52B | $887.00M | $441.00M | $254.00M | -$801.00M |
| Dec 31, 2019 | $413.00M | $2.59B | $966.00M | $463.00M | $240.00M | -$822.00M |
| Sep 30, 2019 | $469.00M | $2.63B | $993.00M | $471.00M | $245.00M | -$837.00M |
| Jun 30, 2019 | $445.00M | $2.57B | $1.02B | $474.00M | $264.00M | -$833.00M |
| Mar 31, 2019 | $431.00M | $2.46B | $864.00M | $412.00M | $291.00M | -$757.00M |
| Dec 31, 2018 | $440.00M | $2.49B | $914.00M | $454.00M | $339.00M | -$795.00M |
| Sep 30, 2018 | $430.00M | $2.49B | $926.00M | $445.00M | $337.00M | -$802.00M |
| Jun 30, 2018 | $439.00M | $2.44B | $915.00M | $437.00M | $305.00M | -$798.00M |
| Mar 31, 2018 | $427.00M | $2.31B | $805.00M | $375.00M | $312.00M | -$715.00M |
| Dec 31, 2017 | $433.00M | $2.35B | $883.00M | $399.00M | $310.00M | -$725.00M |
| Sep 30, 2017 | $443.00M | $2.35B | $884.00M | $412.00M | $375.00M | -$749.00M |