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

Nrg Energy brought in $30.7B of revenue in fiscal 2025, Waste Management $25.2B in fiscal 2025. Revenue changed by +9.2% at Nrg Energy and +14.2% at Waste Management on the year before, so Waste Management grew faster. Nrg Energy kept 2.8% of its revenue as net profit, Waste Management 10.7%. Free cash flow was $766M at Nrg Energy and $2.8B at Waste Management.

Side by side, latest fiscal year

NRGWM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$30.7B$25.2B
Revenue growth+9.2%+14.2%
Net income$864M$2.7B
Net margin2.8%10.7%
Free cash flow$766M$2.8B
Free cash flow margin2.5%11.2%
Earnings per share (diluted)$4.01$6.70
Cash$4.7B$201M
Debt$16.6B$22.9B
Price to earnings25.030.9
Market value$21.1B$82.7B
Dividend yield1.75%1.60%
Rank by revenue in sector#4 of 109 · Utilities#8 of 109 · Utilities

Over the years

Revenue
NRG FY2018: $9.5BNRG FY2019: $9.8BNRG FY2020: $9.1BNRG FY2021: $27BNRG FY2022: $31.5BNRG FY2023: $28.8BNRG FY2024: $28.1BNRG FY2025: $30.7BWM FY2018: $14.9BWM FY2019: $15.5BWM FY2020: $15.2BWM FY2021: $17.9BWM FY2022: $19.7BWM FY2023: $20.4BWM FY2024: $22.1BWM FY2025: $25.2BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $30.7BWM $25.2B
Net income
NRG FY2018: $268MNRG FY2019: $4.4BNRG FY2020: $510MNRG FY2021: $2.2BNRG FY2022: $1.2BNRG FY2023: -$202MNRG FY2024: $1.1BNRG FY2025: $864MWM FY2018: $1.9BWM FY2019: $1.7BWM FY2020: $1.5BWM FY2021: $1.8BWM FY2022: $2.2BWM FY2023: $2.3BWM FY2024: $2.7BWM FY2025: $2.7BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $864MWM $2.7B
Net margin
NRG FY2018: 2.8%NRG FY2019: 45.2%NRG FY2020: 5.6%NRG FY2021: 8.1%NRG FY2022: 3.9%NRG FY2023: -0.7%NRG FY2024: 4.0%NRG FY2025: 2.8%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
NRG 2.8%WM 10.7%
Revenue growth
NRG FY2019: +3.6%NRG FY2020: -7.4%NRG FY2021: +196.8%NRG FY2022: +16.9%NRG FY2023: -8.6%NRG FY2024: -2.4%NRG FY2025: +9.2%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
NRG +9.2%WM +14.2%
Free cash flow
NRG FY2018: $989MNRG FY2019: $1.2BNRG FY2020: $1.6BNRG FY2021: $224MNRG FY2022: -$7MNRG FY2023: -$819MNRG FY2024: $1.8BNRG FY2025: $766MWM FY2018: $1.9BWM FY2019: $2.1BWM FY2020: $1.8BWM FY2021: $2.3BWM FY2022: $1.7BWM FY2023: $1.8BWM FY2024: $2.2BWM FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $766MWM $2.8B

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

Questions about Nrg Energy and Waste Management

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

Nrg Energy is bigger by revenue: $30.7B in fiscal 2025, against $25.2B for Waste Management in fiscal 2025.

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

Nrg Energy had a net margin of 2.8% in fiscal 2025; Waste Management had 10.7% in fiscal 2025.

Which grew revenue faster, Nrg Energy or Waste Management?

In their latest fiscal years revenue changed by +9.2% at Nrg 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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