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
$42.79B
P/E (TTM)
68.0
54.4
Dividend Yield
0.8%
52W High
$201.66
52W Low
$163.27
52W Range
5.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$3.71B+58.57%
4-Quarter Trend
EPS
$1.11-6.72%
4-Quarter Trend
FCF
$1.18B+310.66%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Nine Month Revenue Growth Nine months revenues reached $7.09B USD, marking 6.5% growth from $6.659B USD prior period.
Strong Operating Cash Flow Operating cash flow provided $1.857B USD for nine months, representing a $197.2M USD increase.
Acquisition Investment Activity Transferred $720.1M USD consideration for acquisitions during nine months ended September 30, 2025.
Quarterly Dividend Increase Quarterly cash dividend increased to $0.315 USD per share in October 2025, effective for Q4.
Risk Factors
Chiquita Canyon Litigation Significant ongoing litigation regarding Chiquita Canyon Landfill odor claims and County action remains unresolved.
3Q Net Income Decline 3Q Net income attributable to WCN fell 6.8% to $286.3M USD, driven by $60.1M in impairments.
Diesel Price Volatility Exposure Exposed to unpredictable diesel fuel prices; no fuel hedge agreements were in place as of September 30, 2025.
Contingent Consideration Liability $109.1M USD Level 3 liability for contingent consideration remains outstanding at the balance sheet date.
Outlook
Share Repurchase Authorization Board renewed NCIB to buy back up to 12.86M common shares through August 2026, subject to approvals.
2025 Capital Expenditure Forecast Expect total 2025 capital expenditures between $1.200B USD and $1.250B USD, including RNG facilities.
ESG Commitment Funding Committed $500M USD toward long-term aspirational ESG targets focusing on emissions and resource recovery.
Subsequent Dividend Hike Announced subsequent dividend increase to $0.350 USD per share, effective for the November 2025 payment.
Peer Comparison
Revenue (TTM)
$30.76B
CARR$22.06B
GWW$17.75B
Gross Margin (Latest Quarter)
88.3%
PAYX73.1%
FAST45.3%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| RSG | $63.85B | 30.2 | 17.9% | 2.7% |
| FERG | $49.35B | 27.0 | 33.0% | 33.7% |
| CARR | $48.28B | 12.2 | 27.9% | 32.4% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+17.9%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow
Research & Insights
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Oct 22, 2025|Revenue: $3.71B+58.6%|EPS: $1.11-6.7%MissForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Jul 24, 2025|Revenue: $2.45B+8.8%|EPS: $1.12+4.7%MissForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: Apr 24, 2025|Revenue: $2.23B+7.5%|EPS: $0.93+4.5%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 13, 2025|Revenue: $8.92B+11.2%|EPS: $2.39-19.3%MissForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Oct 24, 2024|Revenue: $2.34B+13.3%|EPS: $1.19+35.2%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Jul 25, 2024|Revenue: $2.25B+11.2%|EPS: $1.07+30.5%MissForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: Apr 25, 2024|Revenue: $2.07B+9.1%|EPS: $0.89+15.6%MissForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 14, 2024|Revenue: $8.02B+11.2%|EPS: $2.96-5.1%Miss