WM delivered a strong Q1 2026 with revenue of $6.23B (+3.5% YoY), operating income surging 9.9% to $1.11B, and net income climbing 13.5% to $723M, driven by margin expansion and robust operating cash flow of $1.50B.
Key risk: High Leverage and Debt-to-Equity Ratio
WM carries a debt-to-equity ratio of 3.56x, reflecting significant financial leverage inherent to its capital-intensive waste infrastructure business. While manageable given strong cash flows, elevated leverage increases vulnerability to interest rate changes and limits financial flexibility in a downturn.
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