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Waste Connections, Inc.

WCN

$166.68 ▼ -0.75 (-0.45%) at close

16 Visible periods

33 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Good

Bullish

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Analytical Summary

Waste Connections, Inc. shows strong fundamentals with top-quartile Return on Common Equity (%). The company's metrics support a bullish outlook for growth-oriented investors.

Market Cap $42.9B

Dividend Yield 0.78%

Revenue Growth 6.1% ↘

Op. Margin 18.1% ↗

ROIC 15.7% ↗

FCF / Share $4.80 ↗

Trailing P/E 39.9x

Price / Book 5.2x

FCF Yield 2.9%

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 7, 2026.

16-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$9.47B

↑ +6.1% —

Net Income Profit after all expenses

$1.08B

↑ +74.3% —

Operating Margin Operating profit as % of sales

18.1%

↑ +50.9% 72th

FCF / Share Free cash flow per share

$4.80

↑ +5.5% —

Long-Term Debt Long-term obligations

$6.89B

↑ +36.7% —

trending_up

Bullish Indicators

Return on Common Equity (%)Return on Common Equity (%) is in the top quartile

warning

Bearish Risks

No bearish risks detected.

Health Breakdown

Profitability ↑

Returns ↑

Financial Health ↓

Cash Quality ↓

Dividend History

Dividend / share · sourced from SEC filings

$1.29 Latest / share

+10.7% YoY

+13.8% 11-yr CAGR

FY 2014

$0.36

FY 2015

$0.41

FY 2016

$0.50

FY 2017

$0.58

FY 2018

$0.67

FY 2019

$0.76

FY 2020

$0.84

FY 2021

$0.94

FY 2022

$1.05

FY 2023

$1.17

FY 2024

$1.29

FY 2025

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 40-F ↗	FY 2013 Dec 31, 2013 40-F ↗	FY 2012 Dec 31, 2011 40-F ↗	FY 2011 Dec 31, 2010 40-F ↗	FY 2010 Dec 31, 2009 40-F ↗
Revenue Growth YoY (%)	6.1% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+23%)	11.2% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+124%)	11.2% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+125%)	17.2% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+245%)	13.0% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+159%)	1.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-79%)	9.5% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+89%)	6.3% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+26%)	37.2% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+643%)	59.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1089%)	5.4% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+8%)	-0.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-117%)	10.1% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+102%)	28.7% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+474%)	—	—
EPS Growth YoY (%)	74.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-19.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-8.9% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	37.1% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	203.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-63.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	3.9% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	-5.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	104.7% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	7.8% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	—	—
Net Income Growth YoY (%)	74.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-19.0% Weak ↓ Weak Declining Year-over-year change in net income	-8.7% Weak ↓ Weak Declining Year-over-year change in net income	35.2% Excellent ↓ Excellent Declining Year-over-year change in net income	202.0% Excellent ↑ Excellent Improving Year-over-year change in net income	-63.9% Weak ↓ Weak Declining Year-over-year change in net income	3.7% Caution ↓ Caution Declining Year-over-year change in net income	-5.2% Weak Weak Year-over-year change in net income	134.0% Excellent Excellent Year-over-year change in net income	N/M	N/M	7.2% Fair Fair Year-over-year change in net income	N/M	N/M	—	—
FCF Growth YoY (%)	5.5% Fair ↓ Fair Declining Year-over-year change in free cash flow	-1.8% Weak ↓ Weak Declining Year-over-year change in free cash flow	7.4% Fair ↓ Fair Declining Year-over-year change in free cash flow	18.1% Good ↑ Good Improving Year-over-year change in free cash flow	18.5% Good ↑ Good Improving Year-over-year change in free cash flow	-10.2% Weak ↓ Weak Declining Year-over-year change in free cash flow	4.7% Caution ↑ Caution Improving Year-over-year change in free cash flow	-27.1% Weak Weak Year-over-year change in free cash flow	30.4% Excellent Excellent Year-over-year change in free cash flow	—	—	-10.3% Weak ↓ Weak Declining Year-over-year change in free cash flow	-10.3% Weak Weak Year-over-year change in free cash flow	15.4% Good Good Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	9.5% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	13.2% Good ↑ Good Improving Compound annual revenue growth over 3 years	13.8% Good ↑ Good Improving Compound annual revenue growth over 3 years	10.2% Good → Good Stable Compound annual revenue growth over 3 years	7.7% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	5.6% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	16.9% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	32.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	32.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	18.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	4.8% Caution Caution Compound annual revenue growth over 3 years	12.0% Good Good Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	11.7% Good ↑ Good Improving Compound annual revenue growth over 5 years	10.6% Good → Good Stable Compound annual revenue growth over 5 years	10.3% Good ↓ Good Declining Compound annual revenue growth over 5 years	9.3% Good ↓ Good Declining Compound annual revenue growth over 5 years	12.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	20.8% Excellent → Excellent Stable Compound annual revenue growth over 5 years	21.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	19.4% Excellent → Excellent Stable Compound annual revenue growth over 5 years	20.3% Excellent Excellent Compound annual revenue growth over 5 years	18.7% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	8.8% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	0.3% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	56.0% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	14.8% Good ↑ Good Improving Compound annual EPS growth over 3 years	4.6% Caution ↑ Caution Improving Compound annual EPS growth over 3 years	-29.1% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	26.2% Excellent ↓ Excellent Declining Compound annual EPS growth over 3 years	—	44.0% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	16.3% Excellent Excellent Compound annual EPS growth over 3 years	—	12.6% Good Good Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 40-F ↗	FY 2013 Dec 31, 2013 40-F ↗	FY 2012 Dec 31, 2011 40-F ↗	FY 2011 Dec 31, 2010 40-F ↗	FY 2010 Dec 31, 2009 40-F ↗
Operating Margin (%) (%)	18.1% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+51%)	12.0% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	15.4% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+28%)	17.2% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+44%)	16.9% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+41%)	7.6% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	15.5% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+30%)	16.9% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+41%)	13.5% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+13%)	13.4% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+12%)	-2.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-124%)	12.0% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	11.5% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	-4.8% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-140%)	12.9% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+8%)	—
Effective Tax Rate (%) (%)	24.1% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.2% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.4% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	20.3% Good → Good Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.8% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.7% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	11.4% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+42%)	6.9% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-13%)	9.5% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+19%)	11.6% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+45%)	10.0% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+26%)	3.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-53%)	10.5% Fair → Fair Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+31%)	11.1% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+39%)	12.5% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+56%)	7.3% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-9%)	-4.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-157%)	6.3% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-21%)	5.8% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-27%)	-10.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-233%)	5.2% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	—
FCF Margin (%) (%)	13.0% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	13.2% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	14.9% Fair → Fair Stable Free cash flow as a percentage of revenue Optimal: > 10%	15.4% Good → Good Stable Free cash flow as a percentage of revenue Optimal: > 10%	15.5% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	14.9% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	16.8% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	17.6% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	25.6% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	23.6% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	—	10.8% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	12.0% Fair ↓ Fair Declining Free cash flow as a percentage of revenue Optimal: > 10%	15.4% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	13.7% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	1.15x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.90x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.56x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	1.33x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	1.54x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	3.96x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.60x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	1.58x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	2.06x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	3.23x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	—	1.71x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	2.06x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-1.44x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	2.65x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 40-F ↗	FY 2013 Dec 31, 2013 40-F ↗	FY 2012 Dec 31, 2011 40-F ↗	FY 2011 Dec 31, 2010 40-F ↗	FY 2010 Dec 31, 2009 40-F ↗
Return on Invested Capital (%)	15.7% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	11.0% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	12.5% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	7.1% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	6.9% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	2.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	5.9% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	6.2% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	4.9% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	3.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-1.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	6.9% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	6.5% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	-2.7% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	5.0% Caution Caution Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	8.1% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	5.4% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	6.9% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	7.2% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	7.1% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	2.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	6.1% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	6.6% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	5.2% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	4.1% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	-1.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	7.1% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.9% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	-2.9% Weak Weak Operating profit relative to total assets Optimal: > 10%	5.4% Caution Caution Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	13.1% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-13%)	7.9% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-48%)	9.9% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-34%)	11.8% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-22%)	8.8% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-41%)	3.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-80%)	8.2% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-45%)	8.5% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-44%)	9.2% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-39%)	4.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-71%)	-4.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-132%)	10.3% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-31%)	9.1% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-39%)	-15.2% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-201%)	4.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-70%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 40-F ↗	FY 2013 Dec 31, 2013 40-F ↗	FY 2012 Dec 31, 2011 40-F ↗	FY 2011 Dec 31, 2010 40-F ↗	FY 2010 Dec 31, 2009 40-F ↗
Debt to Equity (x)	—	—	—	0.97x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+38%)	0.72x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.69x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.63x Fair → Fair Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-10%)	0.65x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-8%)	0.63x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-11%)	0.64x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-8%)	1.09x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+55%)	1.26x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+80%)	1.20x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+71%)	1.01x Caution Caution Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+45%)	0.76x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+9%)	—
Interest Coverage (x)	5.55x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	3.57x Fair ↓ Fair Declining Operating income divided by interest expense Optimal: > 5x	4.50x Fair ↓ Fair Declining Operating income divided by interest expense Optimal: > 5x	6.14x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	6.39x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	2.54x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	5.68x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	6.30x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	5.00x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	4.88x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	-0.96x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	3.89x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	3.83x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	-1.42x Weak Weak Operating income divided by interest expense Optimal: > 5x	3.78x Fair Fair Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-45.97M	$-62.37M	$-78.40M	$6.81B	$4.89B	$4.09B	$4.05B	$3.86B	$3.49B	$3.48B	$2.15B	$1.51B	$1.51B	$1.30B	$1.24B	$-4.99M
Debt / EBITDA (x)	—	—	—	3.19x Caution → Caution Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.72x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.04x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.77x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.76x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.12x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.96x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	10.38x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.94x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.00x Caution ↓ Caution Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	30.72x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.41x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—

📊 What does each share earn? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 40-F ↗	FY 2013 Dec 31, 2013 40-F ↗	FY 2012 Dec 31, 2011 40-F ↗	FY 2011 Dec 31, 2010 40-F ↗	FY 2010 Dec 31, 2009 40-F ↗
Revenue per Share (USD)	$36.79	$34.58	$31.15	$28.02	$23.55	$20.69	$20.43	$18.67	$17.56	$14.66	$11.43	$11.66	$11.73	$10.16	$9.88	—
Basic EPS, GAAP (USD)	$4.18	$2.39	$2.96	$3.25	$2.37	$0.78	$2.15	$2.07	$2.19	$1.07	$-0.52	$0.73	$0.68	$-1.09	$0.51	—
Free Cash Flow per Share (USD)	$4.80	$4.55	$4.63	$4.31	$3.65	$3.08	$3.44	$3.28	$4.50	$3.45	—	$1.26	$1.40	$1.57	$1.36	—
Dividend per Share (USD)	$1.29	$1.17	$1.05	$0.94	$0.84	$0.76	$0.67	$0.58	$0.50	$0.41	$0.36	—	—	—	—	—
Book Value per Share (USD)	$32.26	$30.46	$29.86	$27.64	$26.86	$26.10	$26.30	$24.53	$23.79	$21.49	$10.81	$7.31	$7.49	$7.30	$9.04	—
Tangible Book Value per Share (USD)	$-8.42	$-8.07	$-5.11	$-5.71	$-2.11	$-0.09	$0.98	$1.12	$1.90	$0.72	$0.28	$0.75	$0.95	$1.47	$1.61	—
Basic Weighted Avg Shares (shares)	257.32M	257.97M	257.55M	257.38M	261.17M	263.19M	263.79M	263.65M	263.68M	230.33M	185.24M	172.23M	172.75M	181.02M	144.68M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 40-F ↗	FY 2013 Dec 31, 2013 40-F ↗	FY 2012 Dec 31, 2011 40-F ↗	FY 2011 Dec 31, 2010 40-F ↗	FY 2010 Dec 31, 2009 40-F ↗
Working Capital (USD)	$-812.70M	$-651.92M	$-546.15M	$-395.00M	$-199.97M	$379.62M	$123.37M	$206.07M	$374.27M	$51.22M	$-15.85M	$-34.79M	$-298.00K	$-36.55M	$-52.14M	—
LT Debt (USD)	—	—	—	$6.89B	$5.04B	$4.71B	$4.38B	$4.17B	$3.93B	$3.63B	$2.16B	$1.55B	$1.54B	$1.31B	$1.26B	—
Total Equity (USD)	$8.25B	$7.86B	$7.69B	$7.11B	$6.99B	$6.86B	$6.93B	$6.45B	$6.27B	$5.65B	$1.99B	$1.23B	$1.29B	$1.29B	$1.65B	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 40-F ↗	FY 2013 Dec 31, 2013 40-F ↗	FY 2012 Dec 31, 2011 40-F ↗	FY 2011 Dec 31, 2010 40-F ↗	FY 2010 Dec 31, 2009 40-F ↗
Sales/Revenue/Turnover (USD)	$9.47B	$8.92B	$8.02B	$7.21B	$6.15B	$5.45B	$5.39B	$4.92B	$4.63B	$3.38B	$2.12B	$2.01B	$2.03B	$1.84B	$1.43B	—
Depreciation Expense (USD)	$1.23B	$1.16B	$1.00B	$918.96M	$813.01M	$752.40M	$743.92M	$680.49M	$632.48M	$463.91M	$269.43M	$152.90M	$152.73M	$131.09M	$100.56M	—
Net Income, GAAP (USD)	$1.08B	$617.57M	$762.80M	$835.66M	$618.05M	$204.68M	$566.84M	$546.87M	$576.82M	$246.54M	$-95.76M	$126.52M	$117.97M	$-196.14M	$74.11M	—
Operating Cash Flow (USD)	$2.41B	$2.23B	$2.13B	$2.02B	$1.70B	$1.41B	$1.54B	$1.41B	$1.19B	$795.31M	—	$399.73M	$450.74M	$395.71M	$293.86M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 16 years · 50 quarters

Waste Connections, Inc.

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16-Year Financial Trajectory

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