WCNNYSERefuse SystemsFiscal year ends December 31
Waste Connections, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$165.69−2.21 (-1.32%)
Close on Oct 19, 2026
- Market cap
- $42.06B
- P/E (TTM)
- 39.9
- Dividend yield
- 0.78%
Waste Connections statistics
Financials through Jun 30, 2026, price as of Oct 19, 2026, median of Refuse Systems companies for comparison
Valuation
| Measure | Waste Connections | Industry median |
|---|---|---|
| Market Cap | $41.76B | $3.85B |
| Enterprise Value | $50.96B | $6.69B |
| PE Ratio | 39.93 | 20.58 |
| PS Ratio | 4.28 | 2.78 |
| P/FCF Ratio | 33.88 | 25.68 |
| P/OCF Ratio | 16.62 | 9.72 |
Enterprise value
| Measure | Waste Connections | Industry median |
|---|---|---|
| EV / Sales | 5.22 | 4.40 |
| EV / EBITDA | 17.35 | 13.54 |
| EV / EBIT | 30.66 | 21.33 |
| EV / FCF | 41.33 | 40.83 |
Income (trailing twelve months)
| Measure | Waste Connections | Industry median |
|---|---|---|
| Revenue | $9.76B | $1.96B |
| Gross Profit | $4.15B | $772.78M |
| Operating Income | $1.66B | $356.99M |
| Pretax Income | $1.38B | $257.00M |
| EBITDA | $2.94B | $626.69M |
| EPS (Diluted) | $4.15 | $1.96 |
Margins
| Measure | Waste Connections | Industry median |
|---|---|---|
| Gross Margin | 42.5% | 43.2% |
| Operating Margin | 17.0% | 19.0% |
| Pretax Margin | 14.2% | 13.7% |
| EBITDA Margin | 30.1% | 33.2% |
| FCF Margin | 12.6% | -7.48% |
Returns
| Measure | Waste Connections | Industry median |
|---|---|---|
| Return on Invested Capital (ROIC) | 7.76% | 5.67% |
| Return on Capital Employed (ROCE) | 8.62% | 4.66% |
Growth
| Measure | Waste Connections | Industry median |
|---|---|---|
| Revenue Growth (YoY) | 5.74% | 8.31% |
| EPS Growth (YoY) | 67.3% | 6.88% |
| FCF Growth (YoY) | 8.10% | -17.8% |
| Revenue Growth (3Y CAGR) | 9.49% | 3.90% |
| Revenue Growth (5Y CAGR) | 11.7% | 7.73% |
| EPS Growth (3Y CAGR) | 8.78% | 6.33% |
| EPS Growth (5Y CAGR) | 39.8% | 6.12% |
Balance sheet
| Measure | Waste Connections | Industry median |
|---|---|---|
| Cash & Short-Term Investments | $98.18M | $70.00M |
| Total Debt | $9.29B | $3.59B |
| Net Cash (Debt) | -$9.19B | -$1.91B |
| Net Cash Per Share | -$36.48 | -$20.23 |
| Working Capital | -$728.98M | -$8.30M |
Financial position
| Measure | Waste Connections | Industry median |
|---|---|---|
| Current Ratio | 0.66 | 0.93 |
| Quick Ratio | 0.55 | 0.38 |
| Debt / EBITDA | 3.16 | 5.16 |
| Debt / FCF | 7.54 | 13.31 |
| Net Debt / EBITDA | 3.13 | 4.92 |
| Interest Coverage | 4.75 | 2.43 |
Cash flow (trailing twelve months)
| Measure | Waste Connections | Industry median |
|---|---|---|
| Operating Cash Flow | $2.51B | $490.44M |
| Capital Expenditures | -$1.28B | -$731.05M |
| Free Cash Flow | $1.23B | -$28.09M |
| FCF Per Share | $4.89 | -$0.72 |
Efficiency
| Measure | Waste Connections | Industry median |
|---|---|---|
| Asset Turnover | 0.46 | 0.23 |
| Revenue Per Employee | $403.24K | $1.09M |
| Employee Count | 24,214 | 1,512 |
Dividends and yields
| Measure | Waste Connections | Industry median |
|---|---|---|
| FCF Yield | 2.95% | -3.88% |
| Dividend Yield | 0.78% | 2.92% |
| Buyback Yield | 2.68% | -1.11% |
| Shareholder Yield | 3.46% | 1.61% |
| Dividend Per Share | $1.29 | $1.98 |
| Dividend Growth (YoY) | 10.7% | 5.10% |
| Years of Dividend Growth | 11 | 10 |
| FCF Payout Ratio | 28.2% | 91.0% |
Shares
| Measure | Waste Connections | Industry median |
|---|---|---|
| Shares Outstanding | 252,050,000 | 123,005,500 |
| Shares Change (YoY) | -1.13% | 2.12% |
| Shares Change (QoQ) | -0.81% | 0.05% |
| Float | 251,340,000 | 112,991,500 |
| Shares Held by Insiders | 0.28% | 1.67% |
| Shares Held by Institutions | 86.2% | 81.0% |
Taxes
| Measure | Waste Connections | Industry median |
|---|---|---|
| Income Tax | $322.56M | $40.00M |
| Effective Tax Rate | 23.3% | 16.2% |
Scores
| Measure | Waste Connections | Industry median |
|---|---|---|
| Altman Z-Score | 2.89 | 1.03 |
| Piotroski F-Score | 6 | 5 |
| Beneish M-Score | -2.72 | -2.65 |
Calculated by StockData from Waste Connections's SEC filings and the latest closing price. Hover a measure to see its formula. The grey column is the median of companies in the same industry group (two-digit SIC code); green or red marks a better or worse value than that median.