Administration of Air and Water Resource and Solid Waste Management Programs (NAICS 924110)

A Histometrics industry primer for public- and private-market investors

1. Overview

This is not a company sector — it is the government itself. NAICS (the North American Industry Classification System) code 924110 covers the federal, state, local, and tribal agencies that write, permit, monitor, and enforce the rules on clean air, clean water, and waste. Think of the U.S. Environmental Protection Agency (EPA); the 50 state environmental departments (often a DEP or DEQ — Department of Environmental Protection or Environmental Quality); regional air-quality districts; and local solid-waste, drainage, and flood-control authorities.[1]

Why an investor cares: these agencies are the demand engine and rule-writer for a very large private economy — trash and hazardous-waste companies, water utilities, water-treatment technology firms, and environmental engineers. A permit deadline, a new limit on a chemical, or a wave of federal grant money can move billions of dollars of private spending. You cannot buy stock in the EPA. You invest around this industry, not in it. The central question is not "What is the 924110 stock?" but "Which private companies capture the spending, contracts, fees, and asset returns that public environmental programs create?"

• Public-market route: shares of the regulated and served companies — waste haulers, hazardous-waste and remediation firms, environmental engineers, water-technology suppliers, and regulated water utilities — plus the municipal bonds that fund the actual water and sewer projects.
• Private route: private-equity roll-ups of regional trash and water operators, infrastructure funds, government-contracting engineering firms, municipal and green bonds, and public-private partnerships.

2. What it is, and what it excludes

In scope (924110): government offices that administer, regulate, and enforce programs for air and water resources; solid-waste management; air and water pollution control and prevention; flood control; drainage and water-resource use; and toxic-waste removal and cleanup — plus coordinating these across levels of government.[1] The key word is administration: this code is the regulator and the check-writer, not the truck, the pipe, or the landfill. A private contractor does not become 924110 merely by serving a government client — it is classified by the service it provides (engineering, consulting, waste management, equipment, utility operation).

Explicitly excluded (named adjacent NAICS codes):[2]

• 562 — Waste Management and Remediation Services: the private companies that actually collect, treat, dispose of, and clean up waste (haulers, landfills, hazardous-waste and remediation contractors).
• 221310 — Water Supply and Irrigation Systems and 221320 — Sewage Treatment Facilities: the utilities that operate water and sewer systems.
• 926130 — Regulation and Administration of Communications, Electric, Gas, and Other Utilities: administering sanitation districts as utilities.
• Also nearby: 541620 — Environmental Consulting Services (private consultants) and 924120 — Administration of Conservation Programs (land, wildlife, and forestry — the sibling code for nature rather than pollution).

Ownership mix: essentially 100% government at the 924110 level itself. The broader value chain is mixed — municipalities and authorities own most water and wastewater assets, investor-owned utilities own some systems, and private, employee-owned, and private-equity-backed firms supply the operations, technology, engineering, and waste services.[1]

3. How big it is

Our ingested ground-truth dataset holds no official metrics for NAICS 924110 — so no revenue, employment, establishment, or payroll figure here comes from that source, and none is invented. That absence is itself informative. Because this is a Public Administration industry (NAICS sector 92), the usual "how big is this business" datasets miss it: the Census Bureau excludes government establishments from County Business Patterns (CBP) and the Statistics of U.S. Businesses (SUSB) — the very series the Small Business Administration (SBA) uses for firm counts — so they show almost nothing here.[3] A commercial business-mailing-list database returns only about 5,710 "employees" for the code[3] — a rounding error against reality, and a clean illustration of why federal business statistics undercount a government function.

The right yardstick is the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW), which does count government payrolls. Treat the figures below as a cited external estimate, not our ingested ground truth:

BLS QCEW, 2024 annual averages, NAICS 924110 (government):[4]

Total payroll ran roughly $12.2 billion in 2024, split by employment about 49% local, 36% state, 15% federal.[4] Local government — county and city environmental offices, regional air districts, water-resource and flood-control districts — is the largest single slice; the federal EPA-and-peers layer is the smallest by headcount but the best paid.

Federal-budget anchors for the money moving through the top of the system:

• EPA appropriations: the agency's regular annual budget was about $8.8 billion for fiscal 2026, down roughly 3.5% from about $9.1 billion in fiscal 2025 — with the Superfund cleanup account alone cut about 47%. Counting the 2021 Infrastructure Investment and Jobs Act (IIJA) advance appropriations, EPA's total fiscal-2026 funding was about $20.8 billion.[5]
• State environmental agencies: the Environmental Council of the States (ECOS) reports the average state environmental-agency budget reached $486.7 million in fiscal 2023 (median $179.2 million), up 63% over four years — a jump driven overwhelmingly by a $5.0 billion (159%) surge in federal money passing through to the states, while state-funded regulatory budgets stayed roughly flat.[6]

Scale of the regulated systems and waste streams around 924110 (these measure the ecosystem, not the code's own budget):

• $630.1 billion of clean-water infrastructure needs over 20 years, across 17,544 publicly owned treatment works (POTWs) serving 270.4 million people (EPA Clean Watersheds Needs Survey).[7]
• $625 billion of drinking-water infrastructure needs over 20 years (EPA Drinking Water Infrastructure Needs Survey).[8]
• The IIJA provides more than $50 billion for water infrastructure and about $5.4 billion for Superfund, brownfields, recycling, and waste programs.[9]
• 292.4 million tons of municipal solid waste (MSW) and about 600 million tons of construction-and-demolition (C&D) debris generated in the U.S. in 2018 (latest national EPA estimate).[10]

4. The investable universe

There is no direct equity here — you cannot own a share of a regulatory agency. Investors get exposure through the private companies this industry regulates, funds, and hires. Exchange codes: NYSE = New York Stock Exchange; NASDAQ = National Association of Securities Dealers Automated Quotations; TSX = Toronto Stock Exchange. Scale figures are approximate, drawn from 2024–2026 filings and market data.[18][19][20][21][25]

Waste and hazardous-waste (regulated by, and often contracted by, these agencies):

Water utilities and water technology (funded and rule-driven by these agencies):

Rounding out the list: smaller regulated water utilities (Essential Utilities/WTRG, American States Water/AWR, California Water Service/CWT, SJW Group/SJW, Middlesex Water/MSEX); engineering and program-management firms (Jacobs/J, AECOM/ACM, Stantec/STN, WSP Global/TSX:WSP, Montrose Environmental/MEG); and, for global integrated exposure, Veolia Environnement (Euronext Paris: VIE) in water, waste, and hazardous-waste services.[21]

Major private and privately owned participants:

• Reworld (formerly Covanta): waste-to-energy and resource-recovery platform owned primarily by EQT Infrastructure, with sovereign fund GIC holding a ~25% stake.[22]
• Apex Companies: environmental consulting/engineering, owned by Morgan Stanley Capital Partners (Sentinel Capital Partners retains a minority).[22]
• Coastal Waste & Recycling: vertically integrated regional waste operator majority-owned by Macquarie Asset Management.[22]
• Noble Environmental: regional waste platform in which Apollo-managed funds hold a majority.[22]
• HDR, GHD, and Brown and Caldwell: large employee-owned engineering and environmental-services firms serving public and private clients.[22]
• Beyond these, capital concentrates in private-equity roll-ups of regional trash and water/wastewater operators, infrastructure funds, and the municipal-bond market, where water and sewer revenue bonds finance the physical projects agencies mandate and subsidize.

5. How the money works

These agencies do not earn profit; they run on appropriations, taxes, permit and user fees, fines, grants, and low-interest loans, and their spending becomes revenue for the private ecosystem. The mechanics that matter:

• Appropriations: federal (EPA, ~$8.8B regular for FY2026) and state/local general funds are the base.[5]
• Permit fees and penalties: state permit fees are a large, growing agency revenue line;[6] enforcement penalties add more. In fiscal 2024, EPA enforcement drove commitments of more than $1.17 billion from responsible parties (a single pair of Clean Water Act wastewater cases in Hawaii and Guam accounted for over $1 billion), tied to reducing 227-plus million pounds of pollutants.[12]
• Pass-through grants — the flywheel: the federal government capitalizes state loan programs called State Revolving Funds (SRFs). The Clean Water SRF and Drinking Water SRF fund local water and sewer projects; cumulatively the Clean Water SRF alone has provided about $181 billion to communities on a ~$56 billion federal investment, and the IIJA added roughly $11.7 billion each to the two funds on top of annual appropriations.[9][11] This is where agency budgets convert into contracts for utilities, engineers, and builders.
• Cleanup (Superfund): EPA's Superfund program manages roughly 1,340 sites on the National Priorities List (NPL), funneling work to remediation contractors.[13]

For the private companies exposed to all this, the useful metrics differ by business model:

• Waste haulers: route density, customer retention, landfill tipping fees, "internalization" (share of collected waste sent to their own landfills), pricing above cost inflation, landfill capacity, and closure/post-closure capital spending.
• Hazardous waste: treatment capacity, recurring vs. project mix, industrial activity, emergency-response demand, and environmental liabilities.
• Water technology: installed base, recurring consumables and service revenue, and municipal vs. industrial exposure.
• Regulated utilities: rate base, capital expenditure, allowed return on equity (ROE), regulatory lag, and rate affordability.
• Engineering firms: backlog, book-to-bill (new orders ÷ revenue), billable utilization, and fixed-price execution.[18][19][20]

The administration function is defensive — permitting, monitoring, and public-health duties do not vanish in a recession. Private operators are more cyclical: residential waste is recurring, while industrial waste, recycling commodities, construction, and engineering projects track the economy.

6. What drives demand

• New and tightening rules. The current wave: limits on PFAS (per- and polyfluoroalkyl substances, the "forever chemicals"); mandatory lead service-line replacement; and particulate and methane standards. Each new rule creates mandated private spending — EPA's PFAS drinking-water limits alone are expected to seed a multibillion-dollar filtration market.[14][15]
• Federal funding cycles. IIJA water money and SRF drawdowns directly set the pace of local projects.[9][11]
• Aging infrastructure, population, and climate. Old pipes, landfill-capacity limits, drought, flooding, and flood-control needs create work regardless of politics.[7][8]
• Enforcement intensity and the political administration. A tightening posture raises compliance spend; a deregulatory one relaxes it. This is the single biggest swing factor, and it flips with elections.

Long run, the workload outlook is constructive because environmental programs are legally embedded and infrastructure needs are large. Near-term revenue still depends on appropriations, grant drawdowns, permitting speed, rate approvals, project timing, and the direction of federal policy.

7. Regulation

This industry is the regulation — organized under "cooperative federalism." Federal statutes set national floors:

• Clean Air Act (CAA) — national air-quality standards enforced through state implementation plans.[16][17]
• Clean Water Act (CWA) — including the National Pollutant Discharge Elimination System (NPDES) permits for point-source discharges.[16][17]
• Safe Drinking Water Act (SDWA) — health-based standards for public water systems, plus the Lead and Copper Rule Improvements (LCRI, requiring lead service lines replaced within 10 years) and PFAS limits (initial monitoring by 2027, treatment for exceedances by 2029).[14][15][17]
• Resource Conservation and Recovery Act (RCRA) — solid and hazardous waste from generation to disposal.[17]
• Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA, "Superfund") — hazardous-site cleanup, with retroactive, strict, and joint-and-several liability.[17]

EPA writes the national standards; states that adopt rules at least as strict receive "primacy" — delegated authority to run permitting, inspections, and enforcement, with EPA holding backstop power if a state falls short.[16] Most states hold primacy for drinking water, water discharges (NPDES), air, and hazardous waste — which is why the state and local layers employ far more people than the federal one (Section 3). State and local rules often exceed federal minimums, creating steady demand for permitting, testing, compliance software, engineering, remediation, and legal support — but also a fragmented, jurisdiction-by-jurisdiction market.

8. Competitive dynamics and consolidation

There is no market-share competition inside a government function. The real dynamics are:

• The devolution tug-of-war. Authority and money shift between EPA and the states with each administration; the FY2025–2026 EPA budget and staff cuts push responsibility (and strain) toward the states.[5][24]
• Consolidation in the served markets. The private side is consolidating fast — an oligopoly in solid waste (WM, Republic, Waste Connections, GFL) and accelerating private-equity roll-ups in both regional trash hauling and water/wastewater operations. Mergers and acquisitions (M&A) are reshaping the value chain, not 924110 itself. Recent examples: WM's roughly $7.2 billion purchase of medical-waste firm Stericycle (2024);[23] Republic Services' roughly $2.2 billion purchase of US Ecology;[23] Xylem's roughly $7.5 billion acquisition of Evoqua;[20] WSP's acquisition of TRC; and PE consolidation via Reworld, Apex, Coastal, and Noble.[21][22] Fewer, larger counterparties face the same agencies.

Durable competitive advantage on the private side comes from dense collection routes, scarce permitted landfills and treatment sites, long municipal contracts, specialized licenses and compliance records, installed equipment and laboratory capability, and the ability to bundle collection, treatment, recycling, disposal, and reporting.

9. Risks

• Political and budget whiplash. EPA's workforce fell from roughly 15,000–16,000 in early 2025 to about 14,900 in fiscal 2026, and is forecast near 12,500 by year-end — a cut of roughly a fifth to nearly a third depending on the endpoint, with about a quarter of the lost positions in science.[24] Fewer staff means slower permits and rulemaking and thinner enforcement.
• Regulatory reversal and litigation. Rules can be written, litigated, rolled back, and rewritten. EPA has proposed rescinding certain PFAS provisions while leaving the numeric limits for PFOA and PFOS unaffected; that proposal is not yet a final rule.[15] The uncertainty raises compliance risk and can defer mandated spending.
• Funding cliffs. IIJA and SRF money tapers; when it ends, local project pipelines can shrink.[9][11]
• Unfunded mandates on states. Delegated authority without matching money strains state agencies and delays the work private firms depend on.
• Operating and market risks for the served firms. Environmental liabilities (landfill fires, leachate, methane, contamination, closure costs); cost inflation in labor, fuel, chemicals, and financing; fixed-price contract losses and procurement protests; recycling-commodity volatility; utility rate disallowances and regulatory lag; and shortages of qualified drivers, technicians, engineers, and operators.
• For investors, exposure is indirect. Deregulation can shrink mandated spend; tightening (PFAS, lead) creates it. The bet is on the direction of regulation as much as on any single company.

10. How to invest, and the outlook

You cannot buy the industry — it is government. The routes in:

• Public markets: the waste oligopoly (defensive, toll-like pricing power and permitted disposal assets); hazardous-waste and remediation firms (compliance-driven and emergency work); environmental-engineering firms (government and infrastructure-program spending); water-technology suppliers (the most regulation-sensitive, highest-growth slice); and regulated water utilities (steady rate-base growth). The municipal-bond market — water and sewer revenue bonds, often SRF-backed — is how income investors finance the actual projects. Compare share prices, dividend yields, and valuation multiples only alongside fundamentals: free cash flow after capital expenditure, leverage, contract duration, pricing power, asset scarcity, environmental reserves, and regulatory exposure.
• Private markets: private-equity and infrastructure funds, direct company equity or debt, municipal and green bonds, and public-private partnerships. Underwrite debt-service coverage, rate-setting authority, contract pass-throughs, permit and landfill lives, required capital spending, liability protections, and exit liquidity.

Near-term outlook. Two forces pull opposite ways. For private demand: mandates already on the books — PFAS treatment, lead-pipe replacement — plus aging infrastructure and still-deploying IIJA dollars keep spending growing regardless of Washington's mood.[7][8][9][14][15] Against it: a deregulatory federal posture and a shrinking, lower-budget EPA slow new rulemaking and enforcement and push the burden onto cash-strapped states.[5][24] The likely shape: the agencies themselves contract even as the private markets they created keep growing, carried by rules that are expensive to unwind and infrastructure that has to be fixed either way. The strongest risk-adjusted positions combine essential demand, recurring revenue, scarce permits or networks, cost recovery, and defensible technical capability; commodity-sensitive recycling, highly leveraged roll-ups, and one-off fixed-price projects warrant more caution. Track the regulatory direction, the federal grant cycle, and state-agency capacity as the leading indicators.

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Sources

1. U.S. Census Bureau, "2022 NAICS Definition — 924110, Administration of Air and Water Resource and Solid Waste Management Programs," 2022. https://www.census.gov/naics/?input=924110&year=2022&details=924110
2. NAICS Association, "NAICS Code 924110 — Cross-References," 2024. https://www.naics.com/naics-code-description/?code=924110
3. U.S. Census Bureau, "County Business Patterns / Statistics of U.S. Businesses Methodology" (government exclusion), 2026. https://www.census.gov/programs-surveys/cbp/technical-documentation/methodology.html; illustrative business-list count: ExactData, "NAICS 924110 Business List," 2024. https://www.exactdata.com/naics-code-lookup/924110-administration-of-air-and-water-resource-and-solid-waste-management-programs-mailing-list.html
4. U.S. Bureau of Labor Statistics, "Quarterly Census of Employment and Wages, 2024 Annual Averages, NAICS 924110" (open-data API), 2025. https://data.bls.gov/cew/data/api/2024/a/industry/924110.csv
5. Congressional Research Service, "U.S. Environmental Protection Agency FY2026 Appropriations" (IF13191) and "FY2026 President's Budget Request: In Brief" (R48575), 2026 (total FY2026 ≈ $20.8B incl. IIJA advances; regular annual ≈ $8.8B; Superfund account down ~47%); EPA, "FY2026 EPA Budget in Brief," 2025. https://www.congress.gov/crs-product/IF13191; https://www.congress.gov/crs-product/R48575; https://www.epa.gov/system/files/documents/2025-05/fy-2026-epa-bib.pdf
6. Environmental Council of the States (ECOS), "Green Report: Status of State Environmental Agency Budgets, Fiscal Years 2020 to 2023," 2025. https://www.ecos.org/documents/ecos-green-report-status-of-state-environmental-agency-budgets-fiscal-years-2020-to-2023/
7. U.S. EPA, "Clean Watersheds Needs Survey" ($630.1B; 17,544 POTWs; 270.4M people), 2026. https://www.epa.gov/cwns
8. U.S. EPA, "7th Drinking Water Infrastructure Needs Survey and Assessment" ($625B), 2026. https://www.epa.gov/dwsrf/epas-7th-drinking-water-infrastructure-needs-survey-and-assessment
9. U.S. EPA, "Infrastructure Investment and Jobs Act" (>$50B water) and "Cleanup, Revitalization and Recycling Investments" ($5.4B), 2026. https://www.epa.gov/infrastructure; https://www.epa.gov/infrastructure/cleanup-revitalization-and-recycling-investments
10. U.S. EPA, "Advancing Sustainable Materials Management: 2018 Fact Sheet" (292.4M tons MSW; ~600M tons C&D), 2020. https://nepis.epa.gov/Exe/ZyPURL.cgi?Dockey=P1019BN2.txt
11. U.S. EPA, "Clean Water State Revolving Fund" and "Drinking Water State Revolving Fund," 2024–2026. https://www.epa.gov/cwsrf/about-clean-water-state-revolving-fund-cwsrf; https://www.epa.gov/dwsrf
12. U.S. EPA, "Enforcement and Compliance Assurance Annual Results for Fiscal Year 2024," 2025. https://www.epa.gov/system/files/documents/2025-03/eoy2024.pdf
13. U.S. EPA, "Superfund: National Priorities List (NPL)," 2024. https://www.epa.gov/superfund/superfund-national-priorities-list-npl
14. U.S. EPA, "Lead and Copper Rule Improvements" and "Per- and Polyfluoroalkyl Substances (PFAS)" drinking-water rule, 2026. https://www.epa.gov/ground-water-and-drinking-water/lead-and-copper-rule-improvements; https://www.epa.gov/sdwa/and-polyfluoroalkyl-substances-pfas
15. U.S. EPA, "Proposed Rescission of Certain PFAS Drinking-Water Regulatory Provisions" (PFOA/PFOS numeric limits unaffected; proposal not final), 2026. https://www.epa.gov/system/files/documents/2026-05/for-prepub-web-12843-01-ow_pfas-rescission_nprm_frn_20260511_admin.pdf
16. U.S. EPA, "Primacy Enforcement Responsibility for Public Water Systems," "Delegation of Clean Air Act Authority," and "About NPDES," 2024–2026. https://www.epa.gov/dwreginfo/primacy-enforcement-responsibility-public-water-systems; https://www.epa.gov/caa-permitting/delegation-clean-air-act-authority; https://www.epa.gov/npdes/about-npdes
17. U.S. EPA statute overviews: Clean Air Act, Clean Water Act, Safe Drinking Water Act, RCRA, and CERCLA/Superfund liability, 2025–2026. https://www.epa.gov/clean-air-act-overview/clean-air-act-requirements-and-history; https://www.epa.gov/sdwa/overview-safe-drinking-water-act; https://www.epa.gov/rcra/resource-conservation-and-recovery-act-rcra-overview; https://www.epa.gov/enforcement/superfund-liability
18. Waste-operator filings: Waste Management 2025 Form 10-K; Republic Services investor overview; Waste Connections 2025 Form 10-K, 2026. https://www.sec.gov/Archives/edgar/data/823768/000110465926012049/wm-20251231x10k.htm; https://investor.republicservices.com/; https://www.sec.gov/Archives/edgar/data/1318220/000110465926013700/wcn-20251231x10k.htm
19. Clean Harbors, "Fourth-Quarter and Full-Year 2025 Financial Results," 2026. https://ir.cleanharbors.com/news-releases/news-release-details/clean-harbors-announces-fourth-quarter-and-full-year-2025-financial-results
20. Water tech and utilities: Xylem "Completes Acquisition of Evoqua" (~$7.5B), 2023; Veralto 2025 Annual Report; American Water Works 2025 Form 10-K, 2026. https://www.xylem.com/en-uk/about-xylem/newsroom/press-releases/xylem-completes-acquisition-of-evoqua/; https://www.sec.gov/Archives/edgar/data/1967680/000196768026000018/a2025_annualxreportxfina.htm; https://www.sec.gov/Archives/edgar/data/1410636/000141063626000034/awk-20251231.htm
21. Engineering and integrated services: Tetra Tech "Our Company"; Jacobs Solutions 2025 Annual Report; WSP Global "Completes Acquisition of TRC"; Veolia Environnement "Full-Year 2025 Results," 2025–2026. https://www.tetratech.com/about/our-company/; https://www.sec.gov/Archives/edgar/data/52988/000119312525325113/d32330dars.pdf; https://www.wsp.com/en-gb/news/2026/wsp-completes-acquisition-of-trc; https://www.veolia.com/en/our-media/press-releases/full-year-2025-results
22. Private owners: Reworld/EQT/GIC; Morgan Stanley Capital Partners–Apex; Macquarie–Coastal Waste & Recycling; Apollo–Noble Environmental; employee-owned HDR, GHD, Brown and Caldwell, 2023–2026. https://www.reworldwaste.com/news-resources/newsroom/eqt-broadens-reworld-investor-base-welcoming-gic-as-strategic-investor; https://apexcos.com/press-release/morgan-stanley-capital-partners-acquires-apex-companies/; https://www.macquarie.com/in/en/about/news/2023/macquarie-asset-management-completes-investment-in-coastal-waste-and-recycling.html; https://ir.apollo.com/news-events/press-releases/detail/625/apollo-funds-acquire-majority-stake-in-noble-environmental; https://www.hdrinc.com/about-us/2025-hdr-annual-report
23. M&A: WM "Completes Acquisition of Stericycle" (~$7.2B), 2024; Republic Services "Completes Acquisition of US Ecology" (~$2.2B), 2022. https://mediaroom.wm.com/2024-11-4-WM-Completes-Acquisition-of-Stericycle; https://investor.republicservices.com/news-releases/news-release-details/republic-services-completes-acquisition-us-ecology
24. EPA staffing reductions 2025–2026: Government Executive, "Trump administration on track to cut 1 in 3 EPA staffers," 2025; Federal News Network, "EPA producing less scientific research after 20% staffing cut," 2026; Inside Climate News, "EPA hits 40-year lows in staffing," 2026 (workforce ≈ 14,926 in FY2026; forecast ≈ 12,500 by year-end). https://www.govexec.com/workforce/2025/09/trump-administration-track-cut-1-3-epa-staffers-end-2025/408455/; https://federalnewsnetwork.com/management/2026/05/epa-producing-less-scientific-research-after-20-staffing-cut-data-shows/; https://insideclimatenews.org/news/06032026/trump-epa-staffing-lows/
25. Approximate market data (share prices and market caps, cross-checked): StockTitan "Water Stocks"; 24/7 Wall St. "Top Waste Management & Landfill Stocks"; CompaniesMarketCap "Largest waste and recycling companies," 2026. https://www.stocktitan.net/stocks/themes/water-stocks; https://247wallst.com/investing/2026/01/25/top-5-waste-management-landfill-stocks-trash-cash/; https://companiesmarketcap.com/waste-recycling/largest-waste-and-recycling-companies-by-market-cap/