Waste Connections, Inc.
Waste Connections, Inc.
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Financial Statements
Values in Millions ($) | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 98 | 112 | 46 | 118 | 110 | 111 | 62 | 115 | 79 | 112 | 78 | 96 | |||||
Accounts Receivable Net Current | 1,070 | 1,033 | 1,025 | 1,070 | 1,032 | 952 | 935 | 991 | 961 | 897 | 857 | 868 | |||||
Prepaid Expense And Other Assets Current | 231 | 231 | 241 | 216 | 208 | 218 | 230 | 249 | 196 | 208 | 206 | 187 | |||||
Assets Current | 1,399 | 1,376 | 1,312 | 1,404 | 1,350 | 1,281 | 1,227 | 1,355 | 1,236 | 1,217 | 1,142 | 1,152 | |||||
Restricted Cash And Cash Equivalents Noncurrent | 163 | 210 | 184 | 173 | 157 | 138 | 136 | 123 | 114 | 106 | 106 | 103 | |||||
Restricted Investments Noncurrent | 73 | 80 | 81 | 80 | 78 | 74 | 78 | 79 | 75 | 75 | 70 | 76 | |||||
Property Plant And Equipment Net | 8,965 | 8,714 | 8,733 | 8,423 | 8,381 | 8,223 | 8,036 | 8,234 | 7,896 | 7,827 | 7,228 | 7,097 | |||||
Operating Lease Right Of Use Asset | 316 | 324 | 313 | 316 | 325 | 312 | 308 | 312 | 296 | 273 | 262 | 263 | |||||
Goodwill | 8,388 | 8,415 | 8,392 | 8,275 | 8,221 | 8,056 | 7,950 | 7,923 | 7,705 | 7,597 | 7,404 | 7,313 | |||||
Intangible Assets Net Excluding Goodwill | 1,973 | 1,960 | 2,006 | 2,004 | 2,062 | 2,067 | 1,992 | 1,983 | 1,895 | 1,877 | 1,604 | 1,619 | |||||
Other Assets Noncurrent | 122 | 107 | 109 | 108 | 105 | 103 | 91 | 86 | 85 | 110 | 100 | 109 | |||||
Assets | 21,399 | 21,186 | 21,129 | 20,782 | 20,679 | 20,254 | 19,818 | 20,095 | 19,302 | 19,083 | 17,916 | 17,731 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Accounts Payable Current | 772 | 712 | 765 | 759 | 730 | 626 | 637 | 706 | 663 | 590 | 642 | 605 | |||||
Bank Overdrafts | 29 | 9 | 15 | 14 | 15 | 15 | 15 | 15 | 16 | 15 | 15 | 16 | |||||
Contract With Customer Liability Current | 430 | 425 | 416 | 412 | 412 | 404 | 383 | 377 | 376 | 370 | 355 | 343 | |||||
Accrued Liabilities Current | 781 | 745 | 810 | 762 | 706 | 690 | 737 | 553 | 570 | 507 | 521 | 446 | |||||
Operating Lease Liability Current | 47 | 46 | 44 | 43 | 42 | 40 | 40 | 40 | 38 | 36 | 33 | 33 | |||||
Business Combination Contingent Consideration Liab… | 61 | 62 | 65 | 89 | 88 | 47 | 59 | 55 | 97 | 97 | 95 | 101 | |||||
Long Term Debt And Capital Lease Obligations Curre… | 8 | 8 | 9 | 9 | 9 | 8 | 8 | 8 | 10 | 16 | 26 | 33 | |||||
Liabilities Current | 2,128 | 2,007 | 2,124 | 2,088 | 2,001 | 1,829 | 1,879 | 1,754 | 1,770 | 1,632 | 1,688 | 1,576 | |||||
Long Term Debt And Capital Lease Obligations | 9,284 | 9,094 | 8,811 | 8,621 | 8,337 | 8,388 | 8,073 | 8,161 | 7,696 | 7,795 | 6,725 | 6,803 | |||||
Operating Lease Liability Noncurrent | 271 | 278 | 267 | 270 | 279 | 267 | 272 | 276 | 270 | 249 | 238 | 240 | |||||
Business Combination Contingent Consideration Liab… | 20 | 19 | 20 | 20 | 20 | 28 | 28 | 27 | 21 | 21 | 20 | 21 | |||||
Deferred Income Tax Liabilities Net | 1,121 | 1,113 | 1,086 | 1,068 | 1,035 | 1,012 | 958 | 1,099 | 1,069 | 1,053 | 1,022 | 1,048 | |||||
Other Liabilities Noncurrent | 654 | 617 | 576 | 622 | 652 | 716 | 747 | 517 | 492 | 542 | 524 | 452 | |||||
Liabilities | 13,478 | 13,129 | 12,884 | 12,689 | 12,325 | 12,240 | 11,957 | 11,834 | 11,318 | 11,292 | 10,218 | 10,140 | |||||
Stockholders Equity | |||||||||||||||||
Stockholders Equity Inclu… | |||||||||||||||||
Common Stock Value Outstanding | 2,172 | 2,503 | 2,783 | 2,847 | 3,286 | 3,286 | 3,283 | 3,282 | 3,279 | 3,279 | 3,277 | 3,277 | |||||
Additional Paid In Capital Common Stock | 390 | 367 | 373 | 355 | 336 | 318 | 326 | 310 | 291 | 272 | 284 | 270 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -179 | -142 | -111 | -139 | -94 | -207 | -206 | -65 | -87 | -63 | -10 | -49 | |||||
Treasury Stock Common Value | 0 | 0 | 0 | 0 | 0 | - | 0 | - | - | - | 0 | - | |||||
Retained Earnings Accumulated Deficit | 5,538 | 5,330 | 5,200 | 5,031 | 4,826 | 4,617 | 4,457 | 4,734 | 4,500 | 4,298 | 4,142 | 4,089 | |||||
Stockholders Equity | 7,921 | 8,058 | 8,245 | 8,093 | 8,354 | 8,014 | 7,860 | 8,261 | 7,983 | 7,787 | 7,698 | 7,591 | |||||
Minority Interest | - | - | 0 | 0 | 0 | 0 | 0 | - | - | 4 | 5 | 5 | |||||
Liabilities And Stockholders Equity | 21,399 | 21,186 | 21,129 | 20,782 | 20,679 | 20,254 | 19,818 | 20,095 | 19,302 | 19,083 | 17,916 | 17,731 | |||||
Allowance For Doubtful Accounts Receivable Current | 24 | 28 | 21 | 23 | 24 | 25 | 26 | 24 | 24 | 23 | 24 | 24 | |||||
Common Stock Shares Issued | 252 | 254 | 256 | 256 | 258 | 258 | 258 | 258 | 258 | 258 | 258 | 258 | |||||
Shares Outstanding | 252 | 254 | 256 | 256 | 258 | 258 | 258 | 258 | 258 | 258 | 258 | 258 | |||||
Treasury Stock Common Shares | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -7.06% | -7.36% | 1.52% | - | - | - | - | - | - | - | - | - |
| 2025 | -2.28% | -2.92% | -6.63% | -1.68% | -6.31% | -8.02% | -5.51% | -3.27% | -6.81% | 8.20% | 5.62% | 2.53% |
| 2024 | 1.63% | 2.25% | 9.48% | 3.81% | 5.98% | 3.54% | 2.95% | 0.96% | -1.93% | -0.10% | -0.84% | 4.92% |
| 2023 | - | - | - | -1.83% | -2.04% | -2.84% | 5.67% | 13.95% | 16.70% | 1.80% | 2.54% | 0.20% |
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Performance and Valuation Metrics
Metrics | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.66 | 0.69 | 0.62 | 0.67 | 0.67 | 0.70 | 0.65 | 0.77 | 0.70 | 0.75 | 0.68 | 0.73 | |||||
| Quick Ratio | 0.55 | 0.57 | 0.50 | 0.57 | 0.57 | 0.58 | 0.53 | 0.63 | 0.59 | 0.62 | 0.55 | 0.61 | |||||
| Working Capital | -728.98M | -631.15M | -812.70M | -683.98M | -651.46M | -548.44M | -651.92M | -398.90M | -534.76M | -414.49M | -546.15M | -424.01M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 1.70 | 1.63 | 1.56 | 1.57 | 1.48 | 1.53 | 1.52 | 1.43 | 1.42 | 1.45 | 1.33 | 1.34 | |||||
| Interest Coverage TTM | 4.75 | 4.93 | 5.11 | 3.30 | 3.42 | 3.31 | 3.27 | 4.75 | 4.57 | 4.52 | 4.50 | 4.91 | |||||
| Debt Ratio | 0.63 | 0.62 | 0.61 | 0.61 | 0.60 | 0.60 | 0.60 | 0.59 | 0.59 | 0.59 | 0.57 | 0.57 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.47 | 0.46 | 0.46 | 0.45 | 0.46 | 0.46 | |||||
| Days Sales Outstanding TTM | 39.28 | 37.70 | 37.78 | 40.20 | 39.40 | 37.18 | 36.66 | 39.02 | 39.38 | 38.12 | 38.47 | 39.01 | |||||
| Receivables Turnover TTM | 9.29 | 9.68 | 9.66 | 9.08 | 9.26 | 9.82 | 9.96 | 9.35 | 9.27 | 9.58 | 9.49 | 9.36 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 4.18 | 4.12 | 4.17 | 2.42 | 2.49 | 2.43 | 2.39 | 3.63 | 3.33 | 3.07 | 2.95 | 3.21 | |||||
| Free Cash Flow Per Share TTM | 5.20 | 4.52 | 4.80 | 5.63 | 5.24 | 4.58 | 4.55 | 4.80 | 4.98 | 4.84 | 4.63 | 4.59 | |||||
| Dividend Per Share TTM | 1.37 | 1.34 | 1.30 | 1.26 | 1.23 | 1.20 | 1.17 | 1.14 | 1.11 | 1.08 | 1.05 | 1.02 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 42.53% | 42.50% | 42.37% | 42.10% | 42.03% | 42.02% | 41.79% | 41.78% | 41.54% | 41.19% | 40.86% | 40.34% | |||||
| Operating Profit Margin TTM | 17.02% | 17.53% | 18.06% | 11.65% | 12.19% | 12.02% | 11.97% | 17.15% | 16.26% | 15.72% | 15.41% | 16.85% | |||||
| Net Profit Margin TTM | 10.86% | 10.97% | 11.37% | 6.66% | 6.98% | 6.94% | 6.92% | 10.80% | 10.22% | 9.69% | 9.51% | 10.57% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 5.74% | 5.89% | 6.14% | 7.58% | 9.65% | 10.75% | 11.19% | 10.68% | 9.78% | 9.75% | 11.23% | 12.76% | |||||
| Net Income Growth (1Y) | 64.46% | 67.38% | 74.32% | -33.67% | -25.05% | -20.67% | -19.04% | 13.17% | 2.65% | -6.92% | -8.72% | 2.70% | |||||
| EPS Growth (1Y) | 67.66% | 69.24% | 74.76% | -33.39% | -25.16% | -20.79% | -19.17% | 13.00% | 2.49% | -7.07% | -8.78% | 2.52% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 39.84 | 39.25 | 41.73 | 72.19 | 74.37 | 79.39 | 71.01 | 48.58 | 51.93 | 55.05 | 49.60 | 40.94 | |||||
| P/B TTM | 5.33 | 5.14 | 5.45 | 5.56 | 5.74 | 6.24 | 5.58 | 5.52 | 5.60 | 5.61 | 4.91 | 4.48 | |||||
| P/S TTM | 4.33 | 4.31 | 4.75 | 4.81 | 5.19 | 5.51 | 4.92 | 5.25 | 5.30 | 5.33 | 4.72 | 4.33 | |||||
| Market Cap | 42.25B | 41.39B | 44.93B | 44.98B | 47.95B | 50.01B | 43.85B | 45.63B | 44.67B | 43.71B | 37.83B | 33.98B | |||||
| Enterprise Value | 51.28B | 50.17B | 53.52B | 53.32B | 56.03B | 58.16B | 51.73B | 53.56B | 52.19B | 51.31B | 44.40B | 40.61B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 1.32B | 1.15B | 1.23B | 1.45B | 1.35B | 1.18B | 1.17B | 1.24B | 1.28B | 1.25B | 1.19B | 1.18B | |||||
| Net Debt | 9.03B | 8.78B | 8.59B | 8.34B | 8.08B | 8.15B | 7.88B | 7.93B | 7.51B | 7.59B | 6.57B | 6.64B | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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Institutional Ownership
Waste Connections, Inc. (WCN) — SEC Financial Statements & Analysis
Waste Connections, Inc. (WCN) is a refuse systems company, incorporated in A6. Waste Connections, Inc. trades on WCN: NYSE as: WCN. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Waste Connections, Inc. reported a 5.74% year-over-year revenue growth, a Gross Profit Margin of 42.53% (TTM), a Debt-to-Equity ratio of 1.70x, a Price-to-Sales (P/S) ratio of 4.33x (TTM), a Price-to-Book (P/B) ratio of 5.33 (TTM), at a market cap of $42.25B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 5.74%
- Gross Profit Margin TTM
- 42.53%
- Debt To Equity
- 1.70x
- P/S TTM
- 4.33x
- P/B TTM
- 5.33
- Market Cap
- $42.25B
Data as of 2026-06-30 · Source: SEC EDGAR
Frequently Asked Questions
What industry is Waste Connections, Inc. in?
Waste Connections, Inc. (WCN) operates in the Refuse Systems industry.
What is WCN's market cap?
Waste Connections, Inc. (WCN) has a market capitalization of $42.25B as of 2026-06-30.
What is WCN's P/E ratio?
Waste Connections, Inc. (WCN)'s trailing twelve month P/E ratio is 39.84x as of 2026-06-30.
What exchange does WCN trade on?
Waste Connections, Inc. (WCN) trades on the WCN: NYSE.
Where is Waste Connections, Inc. incorporated?
Waste Connections, Inc. is incorporated in Ontario, Canada.