Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Waste Management Inc., historical price multiples (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).
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Waste Management Inc. P/E ratio decreased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Waste Management Inc. P/OP ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021. |
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Waste Management Inc. P/S ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Waste Management Inc. P/BV ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021. |
Price to Earnings (P/E)
Waste Management Inc., historical P/E 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 414,586,718 | 418,316,357 | 421,098,975 | 422,127,260 | 423,152,948 | 422,606,194 | 422,461,187 | 422,025,023 | 424,708,758 | 424,241,200 | 424,232,181 | 424,759,439 | 423,779,540 | 426,347,027 | 428,716,960 | 431,283,814 | 433,673,878 | 434,216,159 | 440,035,810 | 441,940,757 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Net income attributable to Waste Management, Inc. (in millions) | 506) | 538) | 351) | 421) | 438) | 390) | 307) | 361) | 447) | 495) | 381) | 347) | 531) | 499) | 499) | 396) | 903) | 386) | 362) | 298) | ||||||
| Earnings per share (EPS)2 | 4.38 | 4.18 | 3.80 | 3.69 | 3.54 | 3.56 | 3.81 | 3.99 | 3.93 | 4.13 | 4.14 | 4.42 | 4.54 | 5.39 | 5.09 | 4.75 | 4.49 | 0.00 | 0.00 | 0.00 | ||||||
| Share price1, 3 | 142.68 | 159.28 | 146.96 | 135.06 | 110.56 | 110.67 | 109.38 | 96.80 | 124.23 | 113.37 | 116.72 | 105.52 | 98.84 | 84.84 | 87.84 | 82.50 | 84.02 | 81.31 | 74.66 | 72.30 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/E ratio4 | 32.57 | 38.12 | 38.68 | 36.64 | 31.27 | 31.08 | 28.70 | 24.26 | 31.59 | 27.42 | 28.17 | 23.89 | 21.76 | 15.75 | 17.24 | 17.38 | 18.70 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||
| Cintas Corp. | 36.18 | 37.10 | 38.15 | 38.39 | 36.13 | 18.82 | 31.29 | 29.18 | 30.30 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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 Data adjusted for splits and stock dividends.
2 Q4 2021 Calculation
EPS
= (Net income attributable to Waste Management, Inc.Q4 2021
+ Net income attributable to Waste Management, Inc.Q3 2021
+ Net income attributable to Waste Management, Inc.Q2 2021
+ Net income attributable to Waste Management, Inc.Q1 2021)
÷ No. shares of common stock outstanding
= (506,000,000 + 538,000,000 + 351,000,000 + 421,000,000)
÷ 414,586,718 = 4.38
3 Closing price as at the filing date of Waste Management Inc. Quarterly or Annual Report.
4 Q4 2021 Calculation
P/E ratio = Share price ÷ EPS
= 142.68 ÷ 4.38 = 32.57
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Waste Management Inc. P/E ratio decreased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Price to Operating Profit (P/OP)
Waste Management Inc., historical P/OP 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 414,586,718 | 418,316,357 | 421,098,975 | 422,127,260 | 423,152,948 | 422,606,194 | 422,461,187 | 422,025,023 | 424,708,758 | 424,241,200 | 424,232,181 | 424,759,439 | 423,779,540 | 426,347,027 | 428,716,960 | 431,283,814 | 433,673,878 | 434,216,159 | 440,035,810 | 441,940,757 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Income from operations (in millions) | 718) | 806) | 791) | 650) | 654) | 680) | 527) | 573) | 655) | 734) | 696) | 621) | 767) | 699) | 715) | 608) | 704) | 701) | 673) | 558) | ||||||
| Operating profit per share2 | 7.15 | 6.93 | 6.59 | 5.95 | 5.75 | 5.76 | 5.89 | 6.30 | 6.37 | 6.64 | 6.56 | 6.60 | 6.58 | 6.39 | 6.36 | 6.23 | 6.08 | 0.00 | 0.00 | 0.00 | ||||||
| Share price1, 3 | 142.68 | 159.28 | 146.96 | 135.06 | 110.56 | 110.67 | 109.38 | 96.80 | 124.23 | 113.37 | 116.72 | 105.52 | 98.84 | 84.84 | 87.84 | 82.50 | 84.02 | 81.31 | 74.66 | 72.30 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/OP ratio4 | 19.95 | 22.97 | 22.30 | 22.71 | 19.22 | 19.21 | 18.57 | 15.37 | 19.50 | 17.07 | 17.79 | 16.00 | 15.02 | 13.27 | 13.80 | 13.25 | 13.82 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||
| Cintas Corp. | 29.01 | 29.64 | 30.03 | 29.45 | 27.22 | 14.20 | 23.50 | 22.94 | 23.66 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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 Data adjusted for splits and stock dividends.
2 Q4 2021 Calculation
Operating profit per share
= (Income from operationsQ4 2021
+ Income from operationsQ3 2021
+ Income from operationsQ2 2021
+ Income from operationsQ1 2021)
÷ No. shares of common stock outstanding
= (718,000,000 + 806,000,000 + 791,000,000 + 650,000,000)
÷ 414,586,718 = 7.15
3 Closing price as at the filing date of Waste Management Inc. Quarterly or Annual Report.
4 Q4 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 142.68 ÷ 7.15 = 19.95
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Waste Management Inc. P/OP ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021. |
Price to Sales (P/S)
Waste Management Inc., historical P/S 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 414,586,718 | 418,316,357 | 421,098,975 | 422,127,260 | 423,152,948 | 422,606,194 | 422,461,187 | 422,025,023 | 424,708,758 | 424,241,200 | 424,232,181 | 424,759,439 | 423,779,540 | 426,347,027 | 428,716,960 | 431,283,814 | 433,673,878 | 434,216,159 | 440,035,810 | 441,940,757 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Operating revenues (in millions) | 4,678) | 4,665) | 4,476) | 4,112) | 4,067) | 3,861) | 3,561) | 3,729) | 3,846) | 3,967) | 3,946) | 3,696) | 3,842) | 3,822) | 3,739) | 3,511) | 3,652) | 3,716) | 3,677) | 3,440) | ||||||
| Sales per share2 | 43.25 | 41.40 | 39.22 | 36.96 | 35.96 | 35.49 | 35.75 | 36.70 | 36.39 | 36.42 | 36.08 | 35.55 | 35.19 | 34.54 | 34.10 | 33.75 | 33.40 | 0.00 | 0.00 | 0.00 | ||||||
| Share price1, 3 | 142.68 | 159.28 | 146.96 | 135.06 | 110.56 | 110.67 | 109.38 | 96.80 | 124.23 | 113.37 | 116.72 | 105.52 | 98.84 | 84.84 | 87.84 | 82.50 | 84.02 | 81.31 | 74.66 | 72.30 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/S ratio4 | 3.30 | 3.85 | 3.75 | 3.65 | 3.07 | 3.12 | 3.06 | 2.64 | 3.41 | 3.11 | 3.24 | 2.97 | 2.81 | 2.46 | 2.58 | 2.44 | 2.52 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||
| Cintas Corp. | 5.65 | 5.31 | 5.30 | 5.06 | 4.47 | 2.48 | 4.06 | 3.85 | 3.89 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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 Data adjusted for splits and stock dividends.
2 Q4 2021 Calculation
Sales per share
= (Operating revenuesQ4 2021
+ Operating revenuesQ3 2021
+ Operating revenuesQ2 2021
+ Operating revenuesQ1 2021)
÷ No. shares of common stock outstanding
= (4,678,000,000 + 4,665,000,000 + 4,476,000,000 + 4,112,000,000)
÷ 414,586,718 = 43.25
3 Closing price as at the filing date of Waste Management Inc. Quarterly or Annual Report.
4 Q4 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= 142.68 ÷ 43.25 = 3.30
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Waste Management Inc. P/S ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021. |
Price to Book Value (P/BV)
Waste Management Inc., historical P/BV 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 414,586,718 | 418,316,357 | 421,098,975 | 422,127,260 | 423,152,948 | 422,606,194 | 422,461,187 | 422,025,023 | 424,708,758 | 424,241,200 | 424,232,181 | 424,759,439 | 423,779,540 | 426,347,027 | 428,716,960 | 431,283,814 | 433,673,878 | 434,216,159 | 440,035,810 | 441,940,757 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||
| Total Waste Management, Inc. stockholders’ equity (in millions) | 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) | ||||||
| Book value per share (BVPS)2 | 17.18 | 17.14 | 17.46 | 17.59 | 17.61 | 16.93 | 16.31 | 15.98 | 16.64 | 15.99 | 15.24 | 15.10 | 14.81 | 14.63 | 14.12 | 14.01 | 13.88 | 12.16 | 12.47 | 12.48 | ||||||
| Share price1, 3 | 142.68 | 159.28 | 146.96 | 135.06 | 110.56 | 110.67 | 109.38 | 96.80 | 124.23 | 113.37 | 116.72 | 105.52 | 98.84 | 84.84 | 87.84 | 82.50 | 84.02 | 81.31 | 74.66 | 72.30 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||||
| P/BV ratio4 | 8.30 | 9.29 | 8.42 | 7.68 | 6.28 | 6.54 | 6.71 | 6.06 | 7.46 | 7.09 | 7.66 | 6.99 | 6.68 | 5.80 | 6.22 | 5.89 | 6.05 | 6.69 | 5.99 | 5.79 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||
| Cintas Corp. | 10.90 | 9.60 | 10.22 | 9.85 | 9.78 | 5.42 | 9.33 | 8.83 | 8.93 | 6.79 | 6.03 | 6.26 | — | — | — | — | — | — | — | — | ||||||
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 Data adjusted for splits and stock dividends.
2 Q4 2021 Calculation
BVPS = Total Waste Management, Inc. stockholders’ equity ÷ No. shares of common stock outstanding
= 7,124,000,000 ÷ 414,586,718 = 17.18
3 Closing price as at the filing date of Waste Management Inc. Quarterly or Annual Report.
4 Q4 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= 142.68 ÷ 17.18 = 8.30
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Waste Management Inc. P/BV ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021. |