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Waste Management vs Casella Waste Systems: WM and CWST compared
Waste Management is the larger company: $6.8B of revenue in its latest quarter (Q3 2026) against $544M for Casella Waste Systems (Q2 2026). Casella Waste Systems is growing faster (+17% against +6% a year earlier). Waste Management is more profitable, with an operating margin of 18.7% against 3.7%.
Where the money goes: WM and CWST
Waste Management (WM) · Q3 2026
Waste Management, Q3 2026: revenue $6.8B (+6% year over year), operating margin 18.7%, net earnings $820M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
Casella Waste Systems (CWST) · Q2 2026
Casella Waste Systems, Q2 2026: revenue $544M (+17% year over year), operating margin 3.7%, net earnings $3.8M, operating cash flow $98.8M. The chart follows the revenue to costs, profit and cash.
| Waste Management (WM) | Casella Waste Systems (CWST) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $6.8B | $544M |
| Revenue growth, Y/Y | +6% | +17% |
| Operating margin | 18.7% | 3.7% |
| Net earnings | $820M | $3.8M |
| Net margin | 12.0% | 0.7% |
| Operating cash flow | $1.6B | $98.8M |
| Free cash flow | $983M | $47.5M |
| Market value | $96.5B | $6.3B |
| P/E | 31.7× | — |
| Analysts’ mean target | $255.60 | $106.50 |
Where the revenue comes from
Waste Management
- Collection and Disposal: $5.6B (81%)
- Healthcare Solutions: $651M (10%)
- Recycling Processing and Sales: $441M (6%)
- Renewable Energy: $167M (2%)
Casella Waste Systems
- Solid waste: $443M (81%)
- National Accounts: $48.7M (9%)
- Transfer station: $47.9M (9%)
- Processing: $2.6M (0%)
Questions
Which is bigger, Waste Management or Casella Waste Systems?
Waste Management is the larger company: $6.8B of revenue in its latest quarter (Q3 2026) against $544M for Casella Waste Systems (Q2 2026).
Is Waste Management or Casella Waste Systems growing faster?
Casella Waste Systems is growing faster (+17% against +6% a year earlier).
Which is more profitable, Waste Management or Casella Waste Systems?
Waste Management is more profitable, with an operating margin of 18.7% against 3.7%.
More: Waste Management earnings · how Waste Management makes money · Casella Waste Systems earnings · how Casella Waste Systems makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Aug 7, 2026). Fiscal quarters can end on different dates. Not investment advice.