Waste Management Inc. WM

Name: WM Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored March 14, 2026

Price at analysis: $226.89

Crucible Score

61.3

C+

Quality × Value Composite

KQI — Quality

71.3

Fundamental Quality Index

KVI — Value

49.1

D+

Valuation Attractiveness Index

Crucible Verdict — WM

Waste Management Inc. earns a C+ rating driven by a stark quality-value divide: solid operational metrics including durable competitive moats contrast sharply with poor value scores that drag down the overall assessment. WM trades at a modest 5% discount to fair value, but insider selling and below-average earnings consistency under CEO Jon Rowan raise execution concerns going forward.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

67.2

Growth Profile

64.4

Moat Durability⚠

78.7

Management Effectiveness

65.8

Diversification & Resilience⚠

68.0

Market Position

72.0

Weakest dimension: Growth Profile (64.4)

◆ KVI Value Dimensions

DCF Margin of Safety

63.8

FCF Yield & Cash Returns

28.7

Relative Valuation

61.2

Growth-Adjusted Value

35.0

Historical Valuation

50.0

Macro Context

46.4

◆ DCF Valuation Scenarios

Bear Case

$185.42

Base Case

$238.67

Bull Case

$310.15

Price at Analysis

$226.89

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$185.42	4.0%	17.0%	8.0%
🟢 Base	$238.67	6.0%	18.5%	7.2%
🟢 Bull	$310.15	8.0%	20.0%	6.7%

Key Assumptions: WACC derived using CAPM with 4.39% risk-free rate, 0.53 beta, and 5.5% ERP yielding ~7.3% base cost of equity, blended with after-tax cost of debt (~4.2%) at ~55% debt weighting. Revenue growth anchored to 5-year CAGR of ~8.9% but moderated given maturity of core waste business; operating margins reflect historical 17-19% range with modest expansion potential from pricing power and Stericycle synergies. Capex intensity of ~13% reflects elevated recent investment cycle normalizing over the projection period.

◆ Financial Snapshot

Profitability

Gross Margin29.1%

Operating Margin18.3%

Net Margin10.7%

ROIC8.8%

ROE28.1%

Balance Sheet

Balance SheetCR: 0.89

Cash ConversionFCF/EPS: 1.04x

Capital IntensityCapex/Rev: 12.8%

Altman Z-Score2.46 (Grey)

Piotroski F-Score7/9 (Good)

Growth

Revenue CAGR8.9% CAGR

Earnings CAGR10.5% CAGR

Growth ConsistencyCV: 0.78

Segment Breadth8/8 growing (100%)

Quarterly TrendRev↘+7%

Earnings CredibilityMixed

◆ Analyst Consensus & Leadership

Leadership & Governance

CEOJon Rowan · 2 years

CEO Ownership24.9%

Compensation89% performance-based

Insider ActivitySelling

Capital AllocationROIC 8.8% vs WACC 3.1%

Earnings Beat Rate49% (10/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted March 14, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.