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Waste Management EBITDA Multiples

    The 18 waste management companies listed on major US exchanges that were in this dataset operate in a variety of services, including solid and hazardous waste collection, treatment, and disposal.

    Many focus on recycling and resource recovery, such as processing metals, lithium-ion batteries, and industrial waste into reusable materials. Others specialize in environmental remediation, nuclear and mixed waste management, and carbon capture technologies to reduce emissions.

    Some provide water treatment and recycling services, particularly for industrial and oil and gas sectors, while others focus on pest control, hygiene, and emergency response to environmental hazards.

    These companies will play an increasingly important role going forward and we may see more private waste management companies become public as they consolidate to streamline operations.

    Waste Management Revenue Multiples

    More than half of the dataset operate with revenue over $5 billion. The median waste management revenue multiples in 2024 is 2.1x. The minimum to maximum ranges from 0.1x to 6.3x.

    Compared to other industrial sectors, 2.1x is a relatively high revenue multiple. Investors believe waste management companies play a critical role and this role will only get larger as the market emphasizes the importance of environmental sustainability.

    Incumbent players will have an advantage as they have the basic infrastructure network already set up.

    waste management valuation multiples

    Waste Management EBITDA Multiples

    The median waste management EBITDA multiples in 2024 is 11.6x. Companies with higher revenue display higher EBITDA multiple. This may be a clue that larger waste management companies benefit from infrastructure and streamlined operation, which investors value.

    waste management valuation multiples

    Waste Management Company Margins

    The median gross margin of waste management companies is 31%, the median EBITDA margin is 22%, and the median net profit margin is 7%.

    waste management margins

    Waste Management Industry Outlook 2025

    The waste management industry is expected to experience significant growth over the next year.

    The industry is shifting towards circular economy principles, emphasizing the reduction, reuse, and recycling of materials to minimize environmental impact.

    There is a growing emphasis on zero-waste-to-landfill initiatives, aiming to divert waste towards recycling, composting, and energy recovery processes. The adoption of sustainable materials and green procurement practices is further contributing to waste reduction efforts.

    Refresher: Value a company using revenue, value a company using EBITDA.

    Download Data Set

    To download the 18 companies data set in this analysis, enter your email address below to sign-up for the mailing list and the data set will be sent to your email directly. In some cases, it takes a few hours or a day to receive the email with the data set. 

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