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Constellation Energy vs Waste Management: revenue, profit, margins and growth compared

Constellation Energy brought in $25.5B of revenue in fiscal 2025, Waste Management $25.2B in fiscal 2025. Revenue changed by +8.3% at Constellation Energy and +14.2% at Waste Management on the year before, so Waste Management grew faster. Constellation Energy kept 9.1% of its revenue as net profit, Waste Management 10.7%. Free cash flow was $1.3B at Constellation Energy and $2.8B at Waste Management.

Side by side, latest fiscal year

CEGWM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$25.5B$25.2B
Revenue growth+8.3%+14.2%
Net income$2.3B$2.7B
Net margin9.1%10.7%
Free cash flow$1.3B$2.8B
Free cash flow margin5.0%11.2%
Earnings per share (diluted)$7.40$6.70
Cash$3.6B$201M
Debt$7.4B$22.9B
Price to earnings35.630.9
Market value$93.3B$82.7B
Dividend yield0.15%1.60%
Rank by revenue in sector#7 of 109 · Utilities#8 of 109 · Utilities

Over the years

Revenue
CEG FY2020: $17.6BCEG FY2022: $19.6BCEG FY2022: $24.4BCEG FY2023: $24.9BCEG FY2024: $23.6BCEG FY2025: $25.5BWM FY2018: $14.9BWM FY2019: $15.5BWM FY2020: $15.2BWM FY2021: $17.9BWM FY2022: $19.7BWM FY2023: $20.4BWM FY2024: $22.1BWM FY2025: $25.2BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $25.5BWM $25.2B
Net income
CEG FY2020: $589MCEG FY2022: -$205MCEG FY2022: -$160MCEG FY2023: $1.6BCEG FY2024: $3.7BCEG FY2025: $2.3BWM FY2018: $1.9BWM FY2019: $1.7BWM FY2020: $1.5BWM FY2021: $1.8BWM FY2022: $2.2BWM FY2023: $2.3BWM FY2024: $2.7BWM FY2025: $2.7BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $2.3BWM $2.7B
Net margin
CEG FY2020: 3.3%CEG FY2022: -1.0%CEG FY2022: -0.7%CEG FY2023: 6.5%CEG FY2024: 15.9%CEG FY2025: 9.1%WM FY2018: 12.9%WM FY2019: 10.8%WM FY2020: 9.8%WM FY2021: 10.1%WM FY2022: 11.4%WM FY2023: 11.3%WM FY2024: 12.4%WM FY2025: 10.7%FY18FY19FY20FY21FY22FY23FY24FY25
CEG 9.1%WM 10.7%
Revenue growth
CEG FY2022: +11.6%CEG FY2022: +24.4%CEG FY2023: +2.0%CEG FY2024: -5.4%CEG FY2025: +8.3%WM FY2019: +3.6%WM FY2020: -1.5%WM FY2021: +17.8%WM FY2022: +9.9%WM FY2023: +3.7%WM FY2024: +8.0%WM FY2025: +14.2%FY19FY20FY21FY22FY23FY24FY25
CEG +8.3%WM +14.2%
Free cash flow
CEG FY2020: -$1.2BCEG FY2022: -$2.7BCEG FY2022: -$4BCEG FY2023: -$7.7BCEG FY2024: -$5BCEG FY2025: $1.3BWM FY2018: $1.9BWM FY2019: $2.1BWM FY2020: $1.8BWM FY2021: $2.3BWM FY2022: $1.7BWM FY2023: $1.8BWM FY2024: $2.2BWM FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $1.3BWM $2.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about Constellation Energy and Waste Management

Which is bigger by revenue, Constellation Energy or Waste Management?

Constellation Energy is bigger by revenue: $25.5B in fiscal 2025, against $25.2B for Waste Management in fiscal 2025.

Which keeps more of its revenue as profit, Constellation Energy or Waste Management?

Constellation Energy had a net margin of 9.1% in fiscal 2025; Waste Management had 10.7% in fiscal 2025.

Which grew revenue faster, Constellation Energy or Waste Management?

In their latest fiscal years revenue changed by +8.3% at Constellation Energy and +14.2% at Waste Management.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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