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Casella Waste Systems vs Waste Management: revenue, profit, margins and growth compared

Casella Waste Systems brought in $1.8B of revenue in fiscal 2025, Waste Management $25.2B in fiscal 2025. Revenue changed by +18.0% at Casella Waste Systems and +14.2% at Waste Management on the year before, so Casella Waste Systems grew faster. Casella Waste Systems kept 0.4% of its revenue as net profit, Waste Management 10.7%. Free cash flow was $84.7M at Casella Waste Systems and $2.8B at Waste Management.

Side by side, latest fiscal year

CWSTWM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.8B$25.2B
Revenue growth+18.0%+14.2%
Net income$7.9M$2.7B
Net margin0.4%10.7%
Free cash flow$84.7M$2.8B
Free cash flow margin4.6%11.2%
Earnings per share (diluted)$0.12$6.70
Cash$123.8M$201M
Debt$1.2B$22.9B
Price to earnings685.330.9
Market value$5.2B$82.7B
Dividend yieldn/a1.60%
Rank by revenue in sector#62 of 109 · Utilities#8 of 109 · Utilities

Over the years

Revenue
CWST FY2018: $660.7MCWST FY2019: $743.3MCWST FY2020: $774.6MCWST FY2021: $889.2MCWST FY2022: $1.1BCWST FY2023: $1.3BCWST FY2024: $1.6BCWST FY2025: $1.8BWM FY2018: $14.9BWM FY2019: $15.5BWM FY2020: $15.2BWM FY2021: $17.9BWM FY2022: $19.7BWM FY2023: $20.4BWM FY2024: $22.1BWM FY2025: $25.2BFY18FY19FY20FY21FY22FY23FY24FY25
CWST $1.8BWM $25.2B
Net income
CWST FY2018: $6.4MCWST FY2019: $31.7MCWST FY2020: $91.1MCWST FY2021: $41.1MCWST FY2022: $53.1MCWST FY2023: $25.4MCWST FY2024: $13.5MCWST FY2025: $7.9MWM FY2018: $1.9BWM FY2019: $1.7BWM FY2020: $1.5BWM FY2021: $1.8BWM FY2022: $2.2BWM FY2023: $2.3BWM FY2024: $2.7BWM FY2025: $2.7BFY18FY19FY20FY21FY22FY23FY24FY25
CWST $7.9MWM $2.7B
Net margin
CWST FY2018: 1.0%CWST FY2019: 4.3%CWST FY2020: 11.8%CWST FY2021: 4.6%CWST FY2022: 4.9%CWST FY2023: 2.0%CWST FY2024: 0.9%CWST FY2025: 0.4%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
CWST 0.4%WM 10.7%
Revenue growth
CWST FY2019: +12.5%CWST FY2020: +4.2%CWST FY2021: +14.8%CWST FY2022: +22.0%CWST FY2023: +16.5%CWST FY2024: +23.1%CWST FY2025: +18.0%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
CWST +18.0%WM +14.2%
Free cash flow
CWST FY2018: $47.6MCWST FY2019: $13.7MCWST FY2020: $31.8MCWST FY2021: $59.4MCWST FY2022: $86.4MCWST FY2023: $78.2MCWST FY2024: $78.1MCWST FY2025: $84.7MWM FY2018: $1.9BWM FY2019: $2.1BWM FY2020: $1.8BWM FY2021: $2.3BWM FY2022: $1.7BWM FY2023: $1.8BWM FY2024: $2.2BWM FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
CWST $84.7MWM $2.8B

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

Questions about Casella Waste Systems and Waste Management

Which is bigger by revenue, Casella Waste Systems or Waste Management?

Waste Management is bigger by revenue: $25.2B in fiscal 2025, against $1.8B for Casella Waste Systems in fiscal 2025.

Which keeps more of its revenue as profit, Casella Waste Systems or Waste Management?

Casella Waste Systems had a net margin of 0.4% in fiscal 2025; Waste Management had 10.7% in fiscal 2025.

Which grew revenue faster, Casella Waste Systems or Waste Management?

In their latest fiscal years revenue changed by +18.0% at Casella Waste Systems 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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