Research / Stock / WM
W
WM
WASTE MANAGEMENT INC
222.13
-4.33 -1.91%
close 2026-08-25
Assumptions
-1.3%
Market is pricing -1.3%— you agree
Actually grew +9.1%/yrFCF, 2020–2025 — the market is pricing 10.4pts SLOWER than history
10 yrs
3.00%
5.21%
5.2% derived for this company beta 0.31 (1254d vs the S&P 500) · cost of equity 6.1% = 4.7% risk-free + 0.31 × 4.5% premium · 20% debt at 2.2%, taxed at 21%
Fair value
$221.76
-0.2%
At the market's assumptionsCurrent price $222.13Enterprise value 89.4B
Bear $141.14 (-6.3% growth)Bull $346.13 (3.7%)
Today's market price is inside the range · band = your growth ±5pts, same model · the market itself prices -1.3%
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Present value of each projected year, Y1–Y10
23% the 10 forecast years77% terminal value
Over three quarters of this valuation sits beyond the forecast horizon, in a single assumption about growth forever. Lengthening the projection or lowering terminal growth moves that share.