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Waste Management ( (WM) ) has shared an update.
On March 20, 2026, Waste Management, Inc. amended its Seventh Amended and Restated Revolving Credit Agreement, originally dated May 8, 2024, with its Canadian borrowers and Bank of America, N.A. as administrative agent. The change revises the definitions of EBIT and EBITDA used in the leverage ratio covenant to permit adding back equity-based compensation and interest accretion as non-cash items.
By incorporating these non-cash adjustments into its covenant calculations, Waste Management is aligning the treatment of key metrics with that of certain industry peers. The move is designed to improve comparability of leverage measurements for lenders and investors, potentially offering the company greater flexibility under its revolving credit facility while maintaining consistency with prevailing market practices.
The most recent analyst rating on (WM) stock is a Buy with a $260.00 price target. To see the full list of analyst forecasts on Waste Management stock, see the WM Stock Forecast page.
Spark’s Take on WM Stock
According to Spark, TipRanks’ AI Analyst, WM is a Outperform.
The score is driven primarily by strong underlying operating performance and a constructive 2026 outlook (EBITDA, margin expansion, and materially higher free cash flow), supported by an established uptrend in the stock. The main constraints are leverage and weaker FCF conversion historically, plus a relatively expensive valuation (high P/E with a modest yield).
To see Spark’s full report on WM stock, click here.
More about Waste Management
Waste Management, Inc. is a North American leader in environmental services, providing waste collection, recycling and disposal solutions through its U.S. and Canadian subsidiaries, including Waste Management of Canada Corporation and WM Quebec Inc. The company operates across the solid waste management value chain, serving municipal, commercial and industrial customers with integrated waste handling and sustainability-focused services.
Average Trading Volume: 2,233,960
Technical Sentiment Signal: Strong Buy
Current Market Cap: $90.73B
For a thorough assessment of WM stock, go to TipRanks’ Stock Analysis page.