| Stage | WM | % of rev | RSG | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $6.8B | 100.00% | $4.6B | 100.00% | WM ×1.50 |
| Gross profit | $2.8B | 40.21% | $1.9B | 41.59% | RSG +1.4pp |
| Operating income | $1.3B | 18.68% | $921M | 20.20% | RSG +1.5pp |
| Pre-tax income | $1.0B | 15.25% | $719M | 15.77% | RSG +0.5pp |
| Net income | $820M | 11.98% | $593M | 13.01% | RSG +1.0pp |
| Stage | WM | RSG | Gap · A − B |
|---|---|---|---|
| Revenue | $6.8B100.00% | $4.6B100.00% | WM ×1.50 |
| Gross profit | 40.21%$2.8B | 41.59%$1.9B | RSG +1.4pp |
| Operating income | 18.68%$1.3B | 20.20%$921M | RSG +1.5pp |
| Pre-tax income | 15.25%$1.0B | 15.77%$719M | RSG +0.5pp |
| Net income |
| 11.98%$820M |
| 13.01%$593M |
| RSG +1.0pp |
WM · CLNE 10-KFeb 24 '26
“As of December 31, 2025, we fuel approximately 16,200 refuse vehicles for customers including Waste Management, Republic Services, Waste Connections, GFL Environmental, Atlas Disposal, Burrtec, CR&R, Recology and Waste Pro, among others.”
RSG · CLNE 10-KFeb 24 '26
“As of December 31, 2025, we fuel approximately 16,200 refuse vehicles for customers including Waste Management, Republic Services, Waste Connections, GFL Environmental, Atlas Disposal, Burrtec, CR&R, Recology and Waste Pro, among others.”