Waste Management Inc

WM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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WM's Pricing Power Should Lead to Robust Cash Flow Growth; Increasing FVE to $220

Suryansh Sharma

Jul 22, 2026

Business Strategy and Outlook

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

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Waste Management Inc

WM's Pricing Power Should Lead to Robust Cash Flow Growth; Increasing FVE to $220

Business Strategy and Outlook

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