WCN

Waste Connections, Inc.

Fundamental data last updated:September 12, 2026

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company profile

SECTOR

Industrials

industry

Waste Management

Exchange

NYSE

County of HQ

CA

Next Earnings Date

Pending Announcement

Business Summary

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 also 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. As of December 31, 2021, it owned 334 solid waste collection operations; 142 transfer stations; 61 municipal solid waste (MSW) landfills; 12 E&P waste landfills; 14 non-MSW landfills; 71 recycling operations; 4 intermodal operations; 23 E&P liquid waste injection wells; and 19 E&P waste treatment and oil recovery facilities. The company also operates an additional 53 transfer stations, 10 MSW landfills, and 2 intermodal operations. Waste Connections, Inc. was founded in 1997 and is based in Woodbridge, Canada.

 


VALUATION

P/E

35.95

Market Cap ($M USD)

$37.86B

Forward P/E

17.94

PEG

0.18

PRICE TO SALES

3.93

PRICE TO BOOK

4.72

EV / EBITDA

17.08

5-Year Average P/E

Free Cash Flow Yield

3.01%

DCF Value

$102.38

Graham Number

$54.25

Price to FCF

33.22

EV to FCF

41.40

Earnings Yield

2.78%

FCF Yield

3.01%

DIVIDEND

Yield

0.92%

Annual Payout

$1.37

Payout Ratio

32.23%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$4.14

Next Year EPS Growth Estimate

$8.30

Next Year Revenue Growth Estimate

$12.45B

Return on Equity (ROE)

12.93%

FREE CASH FLOW

Operating Margin

17.59%

Debt-to-Equity

1.14

Piotroski F-Score

7

Altman Z-Score

2.83

Return on Invested Capital (ROIC)

8.85%

Current Ratio

0.69

Quick Ratio

0.69

Net Debt to EBITDA

3.37

Interest Coverage

4.96

Gross Profit margin

39.14%

FCF PER SHARE

$4.46

REVENUE PER SHARE

$37.78

Gainseekers Quantitative Analysis

Summary

WCN Waste Connections, Inc. appears to be trading at a premium relative to its intrinsic value. The snapshot price has been extended above its DCF value and Graham Number, suggesting potential overvaluation. However, the Forward P/E of 18.08 and a remarkably low PEG ratio of 0.18 indicate strong growth expectations at a reasonable price. The Altman Z-score of 2.82 suggests moderate financial health, while an earnings yield of 2.73% reflects limited immediate income potential. Overall, the market seems to be pricing in significant future growth, but with caution warranted due to valuation concerns.

AI Exposure / Tech Reliance

In the waste management industry, WCN is well-positioned to leverage AI and tech advancements. Automation and data analytics can enhance operational efficiency and customer service. As a leader in its sector, WCN can integrate these technologies to maintain its competitive edge.

The Bull Case

For the GARP investor, WCN offers a compelling narrative of growth and efficiency. With an ROIC of 8.85% and a Piotroski F-Score of 7, the company demonstrates strong operational effectiveness and financial health. The operating margin of 17.59% underscores its pricing power, while a solid FCF yield indicates effective capital allocation. These metrics suggest a company capable of generating sustainable returns, making it an attractive buy for those seeking growth at a reasonable price.

The Bear Case

Despite its strengths, WCN faces structural risks that cannot be ignored. The Price/Book ratio of 4.81 and Price/Sales of 4.00 highlight a potentially overextended valuation. The current ratio of 0.69 raises liquidity concerns, indicating potential short-term financial strain. Additionally, the stock's proximity to its 52-week high suggests it may be technically overbought, warranting caution for new investors.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$205.58

Institutional Ownership %

1-Year Beta

0.54

Insider Buying % (6 Mo)

Distance to 52-Week High

32.24%

Distance to 52-Week Low

0.12%

EARNINGS SURPRISE %

3.36%

50-DAY SMA

$158.94

200-DAY SMA

$169.13

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.