Investment Thesis
Waste Management runs the largest vertically integrated waste and recycling network in North America. Pricing discipline, renewable natural gas investments, and automation support durable EBITDA growth.
- Collection Density: Dense routes and asset ownership drive best-in-class operating ratios.
- Sustainability Capital: Renewable energy facilities monetize landfill gas and meet ESG demand.
- Digital Optimization: Route analytics, automated carts, and robotics improve labor productivity.