Debt to Equity
since 2005
Calculation
Waste Management Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, including current portion1 | ÷ | Total Waste Management, Inc. stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 1.88 | = | 13,405) | ÷ | 7,124) |
| Dec 31, 2020 | 1.85 | = | 13,810) | ÷ | 7,452) |
| Dec 31, 2019 | 1.91 | = | 13,498) | ÷ | 7,068) |
| Dec 31, 2018 | 1.60 | = | 10,026) | ÷ | 6,275) |
| Dec 31, 2017 | 1.58 | = | 9,491) | ÷ | 6,019) |
| Dec 31, 2016 | 1.76 | = | 9,310) | ÷ | 5,297) |
| Dec 31, 2015 | 1.68 | = | 8,981) | ÷ | 5,345) |
| Dec 31, 2014 | 1.61 | = | 9,435) | ÷ | 5,866) |
| Dec 31, 2013 | 1.79 | = | 10,226) | ÷ | 5,707) |
| Dec 31, 2012 | 1.56 | = | 9,916) | ÷ | 6,354) |
| Dec 31, 2011 | 1.61 | = | 9,756) | ÷ | 6,070) |
| Dec 31, 2010 | 1.42 | = | 8,907) | ÷ | 6,260) |
| Dec 31, 2009 | 1.41 | = | 8,873) | ÷ | 6,285) |
| Dec 31, 2008 | 1.41 | = | 8,326) | ÷ | 5,902) |
| Dec 31, 2007 | 1.44 | = | 8,337) | ÷ | 5,792) |
| Dec 31, 2006 | 1.34 | = | 8,317) | ÷ | 6,222) |
| Dec 31, 2005 | 1.42 | = | 8,687) | ÷ | 6,121) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial trajectory from 2005 to 2021 reflects a steady increase in total leverage and a significant expansion of long-term liabilities, particularly in the latter part of the observation period.
- Long-term Debt Trends
- Debt levels remained relatively stable between 2005 and 2010, fluctuating within the range of US$ 8.3 billion to US$ 8.9 billion. A gradual upward trend commenced in 2011, with debt increasing to approximately US$ 10 billion by 2018. A substantial increase occurred in 2019, when long-term debt rose to US$ 13.5 billion, and remained at an elevated plateau between US$ 13.4 billion and US$ 13.8 billion through 2021.
- Stockholders' Equity Trends
- Equity levels exhibited limited volatility for the first decade, generally oscillating between US$ 5.7 billion and US$ 6.3 billion from 2005 to 2013. A slight contraction was observed between 2014 and 2016, with equity reaching a low of US$ 5.297 billion. A growth phase followed from 2017 to 2020, with equity peaking at US$ 7.452 billion before settling at US$ 7.124 billion in 2021.
- Debt-to-Equity Ratio Analysis
- The debt-to-equity ratio has followed a long-term upward trend, indicating a shift toward a more debt-reliant capital structure. The ratio was consistently maintained between 1.34 and 1.44 from 2005 to 2010. Between 2011 and 2018, the ratio migrated to a higher range, fluctuating between 1.56 and 1.79. The most significant shift occurred in 2019, when the ratio reached a peak of 1.91, and remained high at 1.88 by the end of 2021, representing a marked increase in financial leverage compared to the 2005 baseline of 1.42.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Industry (Industrials)
Waste Management Inc., debt to equity, long-term trends, comparison to industry (industrials)
| Waste Management Inc. | Industrials | |
|---|---|---|
| Dec 31, 2021 | 1.88 | 1.37 |
| Dec 31, 2020 | 1.85 | 1.82 |
| Dec 31, 2019 | 1.91 | 1.82 |
| Dec 31, 2018 | 1.60 | 1.85 |
| Dec 31, 2017 | 1.58 | 1.65 |
| Dec 31, 2016 | 1.76 | 1.54 |
| Dec 31, 2015 | 1.68 | 1.51 |
| Dec 31, 2014 | 1.61 | 1.89 |
| Dec 31, 2013 | 1.79 | 1.79 |
| Dec 31, 2012 | 1.56 | 2.29 |
| Dec 31, 2011 | 1.61 | 2.60 |
| Dec 31, 2010 | 1.42 | 2.68 |
| Dec 31, 2009 | 1.41 | 3.01 |
| Dec 31, 2008 | 1.41 | 3.54 |
| Dec 31, 2007 | 1.44 | 2.73 |
| Dec 31, 2006 | 1.34 | 2.49 |
| Dec 31, 2005 | 1.42 | 2.42 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).