Waste Connections, Inc.
NYSE•WCN
CEO: Mr. Ronald J. Mittelstaedt
Sector: Industrials
Industry: Waste Management
Listing Date: 1998-05-22
Waste Connections, Inc. provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals. The company owns and operates transfer stations that receive compact and/or load waste to be transported to landfills or treatment facilities through truck, rail, or barge; and intermodal services for the rail haul movement of cargo and solid waste containers in the Pacific Northwest through a network of intermodal facilities. In addition, it provides E&P waste treatment, recovery, and disposal services for waste resulting from oil and natural gas exploration and production activity, such as drilling fluids, drill cuttings, completion fluids, and flowback water; production wastes and produced water during a well's operating life; contaminated soils that require treatment during site reclamation; and substances, which require clean-up after a spill, reserve pit clean-up, or pipeline rupture. Further, the company offers leasing services to its customers. Waste Connections, Inc. was founded in 1997 and is based in Woodbridge, Canada.
Contact Information
Market Cap
$43.42B
P/E (TTM)
40.9
40.5
Dividend Yield
0.8%
52W High
$201.66
52W Low
$155.65
52W Range
Rank26Top 13.0%
5.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
$2.41B+0.00%
4-Quarter Trend
EPS
$1.03+0.00%
4-Quarter Trend
FCF
$157.45M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
2025 Revenue Growth Revenues reached $9.467 B USD in 2025, up 6.1%, driven by price-led growth exceeding cost inflation.
Net Income Surge Net income attributable to WCN surged 74% to $1.077 B USD in 2025, largely due to lower impairments.
Adjusted EBITDA Expansion Adjusted EBITDA grew 7.7% to $3.125 B USD in 2025, reflecting 0.5 percentage point margin expansion.
Acquisition Activity Continues Completed 19 acquisitions in 2025 for $966.8 M net fair value, supporting strategic expansion goals.
Risk Factors
Competitive Pricing Pressure Industry competition limits ability to raise prices adequately offsetting increased costs from inflation and labor pressures.
Landfill Permitting Uncertainty Inability to renew or expand landfill operating permits could materially restrict operations and negatively affect cash flow.
Labor Cost Increases Labor is a high cost; shortages may force higher wages or reliance on expensive third-party vendors, increasing operating costs.
Environmental Liability Exposure Increased regulation, especially PFAS, could result in greater expenditures for remediation, compliance, and potential litigation costs.
Outlook
Growth Strategy Focus Strategy focuses on efficient market operation, vertical integration, and continued acquisition-based growth across North America.
2026 Capital Expenditure Plan Planned capital expenditures for 2026 are approximately $1.250 B USD, funded by cash flow and borrowings.
Maintain Leverage Target Target Leverage Ratio remains 2.5x–3.0x Total Debt to EBITDA through strong operating performance and debt management.
ESG Investment Commitment Committed $500 M USD for long-term aspirational ESG targets, including emissions reduction and resource recovery projects.
Peer Comparison
Revenue (TTM)
$31.78B
$21.75B
$17.94B
Gross Margin (Latest Quarter)
100.0%
73.5%
48.3%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| RSG | $71.69B | 33.6 | 18.0% | 1.7% |
| GWW | $54.61B | 32.1 | 45.9% | 35.3% |
| AME | $54.04B | 36.5 | 14.3% | 14.2% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.6%
Moderate Growth
4Q Net Income CAGR
2.8%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow
Deep Research
Next earnings:Apr 21, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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No Data