Is Waste Management (WM) Above Fair Value On Future Cash Flow?

Waste Management has delivered a solid long run for shareholders, which puts a spotlight on whether the cash the business generates can fully support where the stock trades today. With the price recently around US$224, the question is how that level lines up with the company’s future cash flow profile. Over the past 5 years the stock has returned 49.9%, which makes it important to test how much of that strength is backed by the cash the business can realistically produce. The company’s model...