Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Waste Management Inc., solvency ratios (quarterly data)
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Waste Management Inc. debt to equity ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Waste Management Inc. debt to capital ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Waste Management Inc. debt to assets ratio improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Waste Management Inc. financial leverage ratio increased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Debt to Equity
Waste Management Inc., debt to equity calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current portion of long-term debt | 708) | 601) | 361) | 244) | 551) | 167) | 3,190) | 387) | 218) | 211) | 116) | 1,043) | 432) | 447) | 828) | 1,056) | 739) | 850) | 390) | 396) | ||||||
| Long-term debt, less current portion | 12,697) | 12,446) | 12,883) | 13,244) | 13,259) | 10,255) | 9,598) | 13,065) | 13,280) | 13,147) | 12,623) | 9,323) | 9,594) | 9,569) | 8,968) | 8,901) | 8,752) | 8,495) | 8,667) | 8,646) | ||||||
| Total debt | 13,405) | 13,047) | 13,244) | 13,488) | 13,810) | 10,422) | 12,788) | 13,452) | 13,498) | 13,358) | 12,739) | 10,366) | 10,026) | 10,016) | 9,796) | 9,957) | 9,491) | 9,345) | 9,057) | 9,042) | ||||||
| Total Waste Management, Inc. stockholders’ equity | 7,124) | 7,172) | 7,352) | 7,427) | 7,452) | 7,155) | 6,891) | 6,743) | 7,068) | 6,785) | 6,466) | 6,415) | 6,275) | 6,239) | 6,054) | 6,044) | 6,019) | 5,278) | 5,486) | 5,517) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity1 | 1.88 | 1.82 | 1.80 | 1.82 | 1.85 | 1.46 | 1.86 | 1.99 | 1.91 | 1.97 | 1.97 | 1.62 | 1.60 | 1.61 | 1.62 | 1.65 | 1.58 | 1.77 | 1.65 | 1.64 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||
| Cintas Corp. | 0.69 | 0.67 | 0.71 | 0.70 | 0.79 | 0.82 | 0.88 | 0.94 | 0.95 | 0.87 | 0.90 | 0.76 | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Debt to equity = Total debt ÷ Total Waste Management, Inc. stockholders’ equity
= 13,405 ÷ 7,124 = 1.88
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Waste Management Inc. debt to equity ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Debt to Capital
Waste Management Inc., debt to capital calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current portion of long-term debt | 708) | 601) | 361) | 244) | 551) | 167) | 3,190) | 387) | 218) | 211) | 116) | 1,043) | 432) | 447) | 828) | 1,056) | 739) | 850) | 390) | 396) | ||||||
| Long-term debt, less current portion | 12,697) | 12,446) | 12,883) | 13,244) | 13,259) | 10,255) | 9,598) | 13,065) | 13,280) | 13,147) | 12,623) | 9,323) | 9,594) | 9,569) | 8,968) | 8,901) | 8,752) | 8,495) | 8,667) | 8,646) | ||||||
| Total debt | 13,405) | 13,047) | 13,244) | 13,488) | 13,810) | 10,422) | 12,788) | 13,452) | 13,498) | 13,358) | 12,739) | 10,366) | 10,026) | 10,016) | 9,796) | 9,957) | 9,491) | 9,345) | 9,057) | 9,042) | ||||||
| Total Waste Management, Inc. stockholders’ equity | 7,124) | 7,172) | 7,352) | 7,427) | 7,452) | 7,155) | 6,891) | 6,743) | 7,068) | 6,785) | 6,466) | 6,415) | 6,275) | 6,239) | 6,054) | 6,044) | 6,019) | 5,278) | 5,486) | 5,517) | ||||||
| Total capital | 20,529) | 20,219) | 20,596) | 20,915) | 21,262) | 17,577) | 19,679) | 20,195) | 20,566) | 20,143) | 19,205) | 16,781) | 16,301) | 16,255) | 15,850) | 16,001) | 15,510) | 14,623) | 14,543) | 14,559) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital1 | 0.65 | 0.65 | 0.64 | 0.64 | 0.65 | 0.59 | 0.65 | 0.67 | 0.66 | 0.66 | 0.66 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.61 | 0.64 | 0.62 | 0.62 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||
| Cintas Corp. | 0.41 | 0.40 | 0.41 | 0.41 | 0.44 | 0.45 | 0.47 | 0.49 | 0.49 | 0.46 | 0.47 | 0.43 | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 13,405 ÷ 20,529 = 0.65
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Waste Management Inc. debt to capital ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Debt to Assets
Waste Management Inc., debt to assets calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current portion of long-term debt | 708) | 601) | 361) | 244) | 551) | 167) | 3,190) | 387) | 218) | 211) | 116) | 1,043) | 432) | 447) | 828) | 1,056) | 739) | 850) | 390) | 396) | ||||||
| Long-term debt, less current portion | 12,697) | 12,446) | 12,883) | 13,244) | 13,259) | 10,255) | 9,598) | 13,065) | 13,280) | 13,147) | 12,623) | 9,323) | 9,594) | 9,569) | 8,968) | 8,901) | 8,752) | 8,495) | 8,667) | 8,646) | ||||||
| Total debt | 13,405) | 13,047) | 13,244) | 13,488) | 13,810) | 10,422) | 12,788) | 13,452) | 13,498) | 13,358) | 12,739) | 10,366) | 10,026) | 10,016) | 9,796) | 9,957) | 9,491) | 9,345) | 9,057) | 9,042) | ||||||
| Total assets | 29,097) | 28,841) | 29,037) | 29,070) | 29,345) | 24,772) | 26,619) | 27,178) | 27,743) | 27,109) | 25,986) | 23,373) | 22,650) | 22,591) | 22,014) | 22,106) | 21,829) | 20,949) | 20,839) | 20,650) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets1 | 0.46 | 0.45 | 0.46 | 0.46 | 0.47 | 0.42 | 0.48 | 0.49 | 0.49 | 0.49 | 0.49 | 0.44 | 0.44 | 0.44 | 0.44 | 0.45 | 0.43 | 0.45 | 0.43 | 0.44 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||
| Cintas Corp. | 0.31 | 0.30 | 0.30 | 0.32 | 0.33 | 0.35 | 0.35 | 0.38 | 0.38 | 0.37 | 0.37 | 0.35 | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 13,405 ÷ 29,097 = 0.46
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Waste Management Inc. debt to assets ratio improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021. |
Financial Leverage
Waste Management Inc., financial leverage calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Total assets | 29,097) | 28,841) | 29,037) | 29,070) | 29,345) | 24,772) | 26,619) | 27,178) | 27,743) | 27,109) | 25,986) | 23,373) | 22,650) | 22,591) | 22,014) | 22,106) | 21,829) | 20,949) | 20,839) | 20,650) | ||||||
| Total Waste Management, Inc. stockholders’ equity | 7,124) | 7,172) | 7,352) | 7,427) | 7,452) | 7,155) | 6,891) | 6,743) | 7,068) | 6,785) | 6,466) | 6,415) | 6,275) | 6,239) | 6,054) | 6,044) | 6,019) | 5,278) | 5,486) | 5,517) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Financial leverage1 | 4.08 | 4.02 | 3.95 | 3.91 | 3.94 | 3.46 | 3.86 | 4.03 | 3.93 | 4.00 | 4.02 | 3.64 | 3.61 | 3.62 | 3.64 | 3.66 | 3.63 | 3.97 | 3.80 | 3.74 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||
| Cintas Corp. | 2.23 | 2.19 | 2.35 | 2.23 | 2.37 | 2.38 | 2.54 | 2.51 | 2.48 | 2.34 | 2.45 | 2.18 | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Financial leverage = Total assets ÷ Total Waste Management, Inc. stockholders’ equity
= 29,097 ÷ 7,124 = 4.08
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Waste Management Inc. financial leverage ratio increased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |