Direct Answer
Waste Management reports revenue across 9 product and service lines in its fiscal 2025 Form 10-K. Commercial is the largest, with $6.5 billion of revenue (26% of the total), followed by Landfill at $3.8 billion (15%). 95% of revenue came from the United States.
How Does Waste Management Make Money?
No single line supplies a majority of revenue: the largest, Commercial, is 26%, which spreads Waste Management's exposure across several demand drivers. Between fiscal 2024 and 2025, Healthcare Solutions grew fastest (+526.5%) and Service Other slowest (-54.2%), so the revenue mix tilts toward Healthcare Solutions while that gap lasts.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Commercial | $6.5 billion | $6.2 billion | 25.9% | 5.7% |
| Landfill | $3.8 billion | $3.4 billion | 15.0% | 9.8% |
| Residential | $3.5 billion | $3.5 billion | 13.9% | 1.3% |
| Other Collection | $3.2 billion | $3.0 billion | 12.6% | 7.1% |
| Healthcare Solutions | $3.0 billion | $471 million | 11.7% | 526.5% |
| Transfer | $2.6 billion | $2.4 billion | 10.4% | 7.4% |
| Recycling Processing and Sales | $1.9 billion | $1.6 billion | 7.4% | 16.4% |
| Renewable Energy | $481 million | $321 million | 1.9% | 49.8% |
| Service Other | $22 million | $48 million | 0.1% | -54.2% |
Where Does Waste Management's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $23.9 billion | $21.1 billion | 94.9% | 13.3% |
| Canada | $967 million | $852 million | 3.8% | 13.5% |
| Western Europe and Other Countries | $326 million | $104 million | 1.3% | 213.5% |
What the Segment Figures Do Not Show
The rows above add up to 99% of Waste Management's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Waste Management reported in the segment note and revenue disclosures of its Form 10-K filed February 9, 2026 (accession 0001104659-26-012049), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Waste Management's main products and services?
In its fiscal 2025 Form 10-K, Waste Management reports revenue for Commercial, Landfill, Residential, Other Collection, Healthcare Solutions, Transfer, Recycling Processing and Sales, Renewable Energy and Service Other.
Which part of Waste Management brings in the most revenue?
Commercial, with $6.5 billion of revenue in fiscal 2025, or 26% of the total.
How much of Waste Management's revenue comes from outside the United States?
5% in fiscal 2025, by the geographic breakdown Waste Management reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.