WM EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
WM's ev/ebitda is lower than 83% of the last 10 years.
EV/EBITDA History
WM EV/EBITDA by year
Yearly range of WM’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 10.7 to 18.3, averaging 14.5.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 11.0 | 15.0 | 16.8 | 12.3 |
| 2025 | 14.8 | 16.9 | 18.3 | 15.3 |
| 2024 | 15.3 | 16.7 | 17.9 | 16.3 |
| 2023 | 13.4 | 14.6 | 15.4 | 15.4 |
| 2022 | 14.3 | 15.6 | 17.1 | 14.7 |
| 2021 | 14.7 | 16.7 | 18.0 | 17.3 |
| 2020 | 11.3 | 13.8 | 15.5 | 15.5 |
| 2019 | 11.1 | 13.3 | 14.7 | 14.0 |
| 2018 | 10.7 | 11.5 | 12.1 | 11.1 |
| 2017 | 11.0 | 11.4 | 12.1 | 12.1 |
| 2016 | 10.8 | 11.5 | 11.8 | 11.8 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is WM EV/EBITDA High or Low Right Now?
Waste Management, Inc.'s EV/EBITDA is currently 12.3, which is historically cheap relative to its 10-year historical range. The 10-year median EV/EBITDA for WM is approximately 14.8. See all WM valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.