NYSE Shariah screener · October 2026

Is Waste Management, Inc. (WM) Halal?

PASS

Waste Management, Inc. · NYSE: WM · Industrials

The short answer

Yes - Waste Management, Inc. (WM) passes this Shariah stock screen at all three gates. Waste Management, headquartered in Houston, Texas, provides waste collection, landfill disposal and transfer, recycling, renewable energy from landfill gas, and healthcare waste/compliance services (via its 2024 Stericycle acquisition) - none involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance. The financial ratios pass comfortably: total interest-bearing debt of $23,356M is about 28.92% of its ~$80.75B market cap ($201.90/share, October 1, 2026), below the ~33% ceiling, and interest income is about 0% of FY2025 revenue ($25,204M) - no separate interest income line is disclosed (netted in interest expense), and Zoya reports $0 - below the 5% ceiling. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Waste Management, Inc. (NYSE: WM), headquartered in Houston, Texas (CEO James C. Fish, Jr.; ~60,500 employees), describes itself in its FY2025 Form 10-K as North America's leading provider of comprehensive environmental solutions, serving residential, commercial, industrial and municipal customers throughout the U.S. and Canada. It reports four segments: Collection and Disposal (East Tier and West Tier geographic businesses plus Other Ancillary - waste collection, 257 landfill sites, 342 transfer stations); Recycling Processing and Sales (paper, cardboard, glass, plastic, metal); WM Renewable Energy (landfill-gas-to-energy: renewable electricity and renewable natural gas, which also fuels the company's natural gas fleet); and Healthcare Solutions (regulated waste and compliance services plus secure information destruction, following the 2024 acquisition of Stericycle, Inc.). FY2025 operating revenues were $25,204M; no single customer exceeded 5% of revenues. Business-screen implication (factual): every segment provides waste, recycling, energy or compliance services - none involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Waste Management's Q2 2026 Form 10-Q (period ended June 30, 2026; SEC CIK 823768), total interest-bearing debt was $23,356M - current portion of long-term debt $1,075M + long-term debt $22,281M (the 10-Q reports this as debt at principal amounts, including $1,068M of commercial paper). Against a market cap of about $80.75B (399,967,703 shares outstanding - 630,282,461 issued less 230,314,758 treasury - times $201.90, October 1, 2026, per Finnhub), debt / market cap is about 28.92% - below the ~33% ceiling. Cash and cash equivalents of $557M is about 0.69% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Waste Management's FY2025 Form 10-K discloses no separate interest income line: the Consolidated Statements of Operations report 'Interest expense, net' of ($912M), so interest income is netted and not separately disclosed. Zoya, reporting on the same FY2025 annual report (revenue $25,204M), reports interest income of $0 - about 0% of revenue, below the 5% non-compliant income ceiling. As a cross-check, the 10-K's 'Other, net' line is $20M (0.08% of revenue), so even if all of it were interest income the ratio would still be far below 5%. No material non-compliant income was identified. This is reported honestly as no separate disclosure plus third-party corroboration, not an invented figure. Gate 3 passes. Facts only.

Key figures used

Business: four segments - Collection and Disposal (East Tier, West Tier, Other Ancillary; waste collection, 257 landfill sites, 342 transfer stations), Recycling Processing and Sales (paper, cardboard, glass, plastic, metal), WM Renewable Energy (landfill-gas-to-energy: renewable electricity and RNG), Healthcare Solutions (regulated waste and compliance services + secure information destruction, via 2024 Stericycle acquisition)
No haram segments: all revenue from waste, recycling, energy and compliance services - no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance; largest FY2025 customer under 5% of revenues
Debt: $23,356M at principal amounts (current portion $1,075M + long-term $22,281M, Q2 2026 10-Q) - debt / market cap about 28.92% of ~$80.75B (399,967,703 shares outstanding x $201.90, Oct 1, 2026), under the ~33% ceiling
Debt mix: senior notes, tax-exempt bonds, $1,068M commercial paper program, Canadian senior notes; $2.7B of debt maturing within 12 months is classified long-term (intent and ability to refinance via the $3.5B revolving credit facility)
Cash: $557M cash and cash equivalents about 0.69% of market cap
FY2025: operating revenues $25,204M, net income $2,708M, interest expense net ($912M); Q2 2026 revenue $6,684M; NYSE-listed as WM, HQ Houston, Texas
Interest income: no separate line disclosed (netted in interest expense); Zoya reports $0 interest income for FY2025 about 0% of revenue, under the 5% ceiling; 'Other, net' $20M is only 0.08% of revenue as a worst-case bound

Frequently asked questions

What does Waste Management do?

Waste Management, Inc. (NYSE: WM), headquartered in Houston, Texas, is North America's leading provider of comprehensive environmental solutions (CEO James C. Fish, Jr.; ~60,500 employees). Per its FY2025 Form 10-K, the company operates in four reportable segments: (1) Collection and Disposal (East Tier and West Tier geographic businesses plus Other Ancillary) - waste collection, 257 landfill sites, and 342 transfer stations that consolidate, compact and transport waste; (2) Recycling Processing and Sales - processing and sale of paper, cardboard, glass, plastic and metal; (3) WM Renewable Energy - landfill-gas-to-energy facilities producing renewable electricity and renewable natural gas (RNG) that also fuels the company's natural gas fleet; and (4) Healthcare Solutions - regulated waste and compliance services (RWCS) plus secure information destruction (SID) following the 2024 acquisition of Stericycle, Inc. FY2025 operating revenues were $25,204M; Q2 2026 revenue was $6,684M.

Why does Waste Management pass this Shariah stock screen?

Waste Management passes this Shariah stock screen at all three gates. Gate 1 (business activity): all four segments - collection/disposal, recycling, renewable energy, and healthcare waste/compliance services - provide environmental and waste services; none involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance. Gate 2 (debt): $23,356M total interest-bearing debt is about 28.92% of its ~$80.75B market cap, below the ~33% ceiling. Gate 3 (non-compliant income): the 10-K discloses no separate interest income line (it is netted within 'Interest expense, net' of ($912M)); Zoya reports $0 interest income for FY2025, about 0% of revenue ($25,204M), below the 5% ceiling. Result: PASS. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Waste Management's interest-bearing debt ratio?

Per Waste Management's Q2 2026 Form 10-Q (period ended June 30, 2026; SEC CIK 823768), total interest-bearing debt was $23,356M - current portion of long-term debt $1,075M + long-term debt $22,281M. Against a market cap of about $80.75B (399,967,703 shares outstanding - 630,282,461 issued less 230,314,758 treasury shares - times $201.90, October 1, 2026, per Finnhub), debt / market cap is about 28.92% - below the ~33% ceiling. Cash and cash equivalents of $557M is about 0.69% of market cap. The debt mix includes senior notes, tax-exempt bonds, a $1,068M commercial paper program, and Canadian senior notes; about $2.7B of debt maturing within 12 months is classified as long-term because the company has intent and ability to refinance it via its $3.5B revolving credit facility. Facts only.

What is Waste Management's non-compliant income ratio?

Waste Management's FY2025 Form 10-K discloses no separate interest income line: 'Interest expense, net' of ($912M) is reported net, so interest income is netted and not separately disclosed. Zoya, reporting on Waste Management's FY2025 annual report (revenue $25,204M), reports interest income of $0 - about 0% of revenue, below the 5% non-compliant income ceiling. As a cross-check, the 10-K's 'Other, net' line is $20M (0.08% of revenue), so even if all of it were interest income the ratio would still be far below 5%. No material non-compliant income was identified. This is reported honestly as no separate disclosure plus third-party corroboration, not an invented figure. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover Waste Management?

Zoya covers Waste Management at zoya.finance/stocks/wm (reports $0 interest income for FY2025), but its public page renders contradictory auto-generated template text (simultaneously calling WM 'Shariah-compliant and therefore considered halal' and 'Shariah-compliant and therefore not considered halal'), so no clean Zoya rating is retrievable without the app - honestly reported as inconclusive. Musaffa: no Waste Management (WM) page surfaced in search (only WM Technology Inc., ticker MAPS, a different company). ShariaPortfolio: no Waste Management entry found. All honestly reported as absent/inconclusive, not invented. This page applies the screen directly from Waste Management's own SEC filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).