Waste Management, Inc. Stock Analysis – Too Expensive for Me (part 3 of 3)

Summary

  • This Waste Management, Inc. stock analysis is the 3rd of a 3 part series on the largest non-hazardous solid waste collection companies.
  • The non-hazardous solid waste collection industry is highly fragmented due to its low entry barriers.
  • Growing to a meaningful size is not easy and requires readily accessible sources of capital.
  • The largest players within the industry have a sizable pool of acquisition opportunities.
  • WM has not experienced any significant top line growth over the last 10 years but is growing EBITDA and FCF.
  • WM might be attractive to some investors but I view it as too expensive at current levels.

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