Waste Management Inc

WM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Our Capital Allocation Outlook for Wide-Moat Waste Management Unchanged with CFO Transition

Brian Bernard

Aug 22, 2025

Business Strategy and Outlook

Waste collection and disposal industry leader WM enjoys leading market share and unmatched dominance in landfill ownership, which is nearly impossible to replicate given immense regulatory hurdles. This leadership position expanded after the firm's October 2020 acquisition of Advanced Disposal, which had been the fourth-largest publicly traded waste collection and disposal company in the United States. In November 2024, WM entered the adjacent medical waste disposal business with its acquisition of Stericycle.

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Waste Management Inc

Our Capital Allocation Outlook for Wide-Moat Waste Management Unchanged with CFO Transition

Business Strategy and Outlook

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