Waste Connections, Inc.: stock overview

WCNNYSEIndustrials · Refuse Systems

Price

$193.97

November 13, 2026Market cap $49.6B

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  • The full history: 16 fiscal years, from 2010
  • The estimated fair value, with its range and its certainty
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  • More questions to the chat on its filings
  • Excel with every year
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In short

Waste Connections had revenue of $9.9B over the last 12 months and net income of $1.1B, a net margin of 11.4%. Revenue grew by 11.7% a year on average over the last 5 years. At $193.97 the shares trade at a P/E of 43.8, against a median of 50.6 over the last 5 fiscal years. It has net debt of $9.3B. It pays a dividend yielding 0.74%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$49.6B
256M shares
P/E
43.8
Today43.8
Median50.6
Revenue, 12 months
$9.9B
+11.7% a year over 5 years
Net margin
11.4%
above 47% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+8.6% a year over 2 years

  • 202510-K
    Revenue$9.5B
  • 202410-K
    Revenue$8.9B
  • 202310-K
    Revenue$8.0B

Fiscal years in figures

WCN's revenue, profit, cash flow and dividend with each year-end price, from 2010 to 2022, 13 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $44.3B
$49.6B
Enterprise value 
$58.9B
P/E 3-year median: 50.6
43.8
EV / EBIT 
33.4
EV / Revenue 
5.9
P/B 3-year median: 5.4
6.3
FCF yield 3-year median: 2.8%
2.5%
Earnings yield 3-year median: 2.0%
2.3%

Profitability

Gross margin 
42.6%
Operating margin 
17.7%
Net margin 3-year median: 9.5%
11.4%
ROIC 
8.0%
ROIC, 5-year average 
6.8%
ROE 
14.1%

Growth

Revenue, yearly change 
+6.1%
EPS, yearly change 
+74.5%
FCF, yearly change 
+5.3%
Revenue, average a year 
+11.7%
EPS, average a year 
+39.8%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$96M
Total debt 
$9.8B
Of which operating leases 
$323M
Net debt 
$9.3B
Net debt / EBITDA 
3.1x
Interest cover 
4.9x
Current ratio 
0.67

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield 3-year median: 0.7%
0.74%
Buybacks 
1.02%
Total returned 
1.76%
Shares, yearly change 
-0.9%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 49).

Operating margin

18.1%

Above 41% of the 117 companies in its industry, and 80% of all.

Net margin

11.4%

Above 47% of the 122 companies in its industry, and 68% of all.

ROE

13.1%

Above 77% of the 103 companies in its industry, and 71% of all.

ROA

5.1%

Above 81% of the 122 companies in its industry, and 73% of all.

Revenue growth

6.1%

Above 36% of the 122 companies in its industry, and 49% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
Waste Connections, Inc.
CIK
1318220
Exchange
NYSE
Industry (SIC)
4953 · Refuse Systems
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
256M

Other companies: Industrials

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The full analysis

What do Waste Connections's filings show?

These are Waste Connections's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about WCN

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What is WCN's market cap?

Waste Connections, Inc.'s market cap is $49.6B, at a price of $193.97 on November 13, 2026 and 256M shares.

What is WCN's P/E?

WCN's P/E is 43.8, on earnings per share of $4.47 over the last 12 months. The median over the last 5 fiscal years was 50.6.

How much revenue does WCN have?

Waste Connections had revenue of $9.9B over the last 12 months. Over the last 5 years it changed by +11.7% a year on average.

Does WCN pay a dividend?

Yes. Waste Connections paid $1.44 per share over the last 12 months, a yield of 0.74% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Waste Connections, Inc.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.