Waste Management Stock Sees Analyst Confidence Despite Mixed Earnings

Analysts maintain a broadly positive view on Waste Management's stock, reflecting confidence in steady operations.

Published on Feb. 10, 2026

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Waste Management, Inc., a leading environmental services company based in Houston, Texas, has seen its stock gain 4.9% year-to-date, outperforming the broader market. However, the company's Q4 2025 earnings results fell short of analyst expectations, with revenue and adjusted EPS missing consensus estimates. Despite this, analysts remain broadly positive on the stock, citing the company's strong operating model, margin expansion, and disciplined investments in recycling, renewable energy, and its medical waste platform.

Why it matters

Waste Management's performance is a bellwether for the environmental services industry, and its ability to navigate challenges and deliver consistent results is closely watched by investors. The company's stock performance and analyst sentiment provide insights into the broader trends and outlook for the sector.

The details

Waste Management, with a $91.4 billion market cap, reported Q4 2025 revenue of $6.31 billion, falling short of the $6.39 billion expected by analysts. Adjusted EPS came in at $1.93, also missing the $1.95 consensus estimate. However, the company's operating adjusted EBITDA in the Legacy Business rose 10.1% in 2025, and margins expanded 150 basis points to 31.5%. Its Healthcare Solutions segment also saw improved adjusted EBITDA margins, up 180 basis points to 16.9%. Management's guidance for 2026, including operating EBITDA of $8.15–$8.25 billion and free cash flow of $3.7–$3.8 billion, reinforced confidence in the company's operating model.

  • Waste Management released its Q4 2025 earnings results on January 28, 2026.
  • Over the past 52 weeks, WM stock gained 2.5%, lagging the S&P 500 Index's 15.6% gain.
  • Year-to-date (YTD) performance, however, has been stronger, with WM rising 4.9% and surpassing the broader market's modest 1.7% increase.

The players

Waste Management, Inc.

A leading environmental services company based in Houston, Texas, that manages waste collection, recycling, disposal, and material recovery, as well as converting landfill gas into energy and delivering regulated healthcare waste and secure information destruction services.

S&P 500 Index

A stock market index that measures the performance of the 500 largest publicly traded companies in the United States.

State Street Industrial Select Sector SPDR ETF

An exchange-traded fund that tracks the performance of the industrial sector of the S&P 500 Index.

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The takeaway

Despite some mixed earnings results, Waste Management's strong operating model, margin expansion, and disciplined investments in key growth areas have maintained analyst confidence in the company's long-term prospects. The company's performance continues to be closely watched as a bellwether for the environmental services industry.