Company: Waste Management, Inc.
Ticker: WM
Form: 10-K
Filed: 2026-02-09
Fiscal Period: {"fp": "FY", "fy": 2025}

Question: What was Waste Management, Inc.'s operating cash flow margin in fiscal year 2025?
Question Type: derived_ratio

Concept: NetCashProvidedByUsedInOperatingActivities
RevenueFromContractWithCustomerExcludingAssessedTax
Answer (Numeric): 23.98
Answer (Display): 23.98%
Unit: percent

Evidence:
[{"chunk_id": "213", "equivalent_chunk_ids": ["213"], "section": "CONSOLIDATED STATEMENTS OF CASH FLOWS", "supports": ["numerator", "denominator"], "text": "(In Millions)\nYear Ended December 31,\nCash flows from operating activities:\nConsolidated net income\n2,709\n2,745\n2,276\nAdjustments to reconcile consolidated net income to net cash provided by operating activities:\nDepreciation, depletion and amortization\n2,863\n2,267\n2,071\nDeferred income tax expense (benefit)\nInterest accretion on landfill and environmental remediation liabilities\nProvision for bad debts\nEquity-based compensation expense\nNet gain on disposal of assets\n(Gain) loss from divestitures, asset impairments and other, net\nEquity in net (income) loss of unconsolidated entities, net of dividends\nChange in operating assets and liabilities, net of effects of acquisitions and divestitures:\nReceivables\nOther current assets\nOther assets\nAccounts payable and accrued liabilities\nDeferred revenues and other liabilities\nNet cash provided by operating activities\n6,043\n5,390\n4,719\nCash flows from investing activities:\nAcquisitions of businesses, net of cash acquired\n7,488\nCapital expenditures\n3,227\n3,231\n2,895\nProceeds from divestitures of businesses and other assets, net of cash divested\nOther, net\nNet cash used in investing activities\n3,566\n10,601\n3,091\nCash flows from financing activities:\nNew borrowings\n20,414\n24,578\n21,306\nDebt repayments\n21,747\n17,870\n20,394\nCommon stock repurchase program\n1,302\nCash dividends\n1,334\n1,210\n1,136\nExercise of common stock options\nTax payments associated with equity-based compensation transactions\nOther, net\nNet cash provided by (used in) financing activities\n2,673\n5,155\n1,524\nEffect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents\nIncrease (decrease) in cash, cash equivalents and restricted cash and cash equivalents\nCash, cash equivalents and restricted cash and cash equivalents at beginning of period\nCash, cash equivalents and restricted cash and cash equivalents at end of period\nReconciliation of cash, cash equivalents and restricted cash and cash equivalents at end of period:\nCash and cash equivalents\nRestricted cash and cash equivalents included in other current assets\nRestricted cash and cash equivalents included in restricted funds\nCash, cash equivalents and restricted cash and cash equivalents at end of period\nSee Notes to Consolidated Financial Statements.\nWASTE MANAGEMENT, INC."}]

Derivation: {"denominator": "revenue", "denominator_value": 25204.0, "format": "percentage", "numerator": "operating_cash_flow", "numerator_value": 6043.0, "op": "divide"}