WASTE CONNECTIONS INC (WCN.CA) Stock Fundamental Analysis

TSX:WCN • CA94106B1013

223.74 CAD
-3.77 (-1.66%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

WCN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 25 industry peers in the Commercial Services & Supplies industry. While WCN belongs to the best of the industry regarding profitability, there are concerns on its financial health. WCN is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year WCN was profitable.
  • WCN had a positive operating cash flow in the past year.
  • WCN had positive earnings in 4 of the past 5 years.
  • WCN had a positive operating cash flow in 4 of the past 5 years.
WCN.CA Yearly Net Income VS EBIT VS OCF VS FCFWCN.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

1.2 Ratios

  • With a decent Return On Assets value of 2.99%, WCN is doing good in the industry, outperforming 68.00% of the companies in the same industry.
  • With a decent Return On Equity value of 7.69%, WCN is doing good in the industry, outperforming 68.00% of the companies in the same industry.
  • WCN's Return On Invested Capital of 7.55% is amongst the best of the industry. WCN outperforms 84.00% of its industry peers.
  • WCN had an Average Return On Invested Capital over the past 3 years of 7.10%. This is in line with the industry average of 5.81%.
  • The 3 year average ROIC (7.10%) for WCN is below the current ROIC(7.55%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.99%
ROE 7.69%
ROIC 7.55%
ROA(3y)4.08%
ROA(5y)3.58%
ROE(3y)9.84%
ROE(5y)8.27%
ROIC(3y)7.1%
ROIC(5y)6.62%
WCN.CA Yearly ROA, ROE, ROICWCN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 6.65%, WCN is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of WCN has declined.
  • WCN has a better Operating Margin (19.06%) than 96.00% of its industry peers.
  • WCN's Operating Margin has improved in the last couple of years.
  • The Gross Margin of WCN (42.10%) is better than 80.00% of its industry peers.
  • WCN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 19.06%
PM (TTM) 6.65%
GM 42.1%
OM growth 3Y2.81%
OM growth 5Y2.48%
PM growth 3Y-11.67%
PM growth 5Y-8.02%
GM growth 3Y0.97%
GM growth 5Y0.56%
WCN.CA Yearly Profit, Operating, Gross MarginsWCN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), WCN is destroying value.
  • WCN has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
WCN.CA Yearly Shares OutstandingWCN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
WCN.CA Yearly Total Debt VS Total AssetsWCN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • An Altman-Z score of 3.04 indicates that WCN is not in any danger for bankruptcy at the moment.
  • WCN has a Altman-Z score of 3.04. This is amongst the best in the industry. WCN outperforms 84.00% of its industry peers.
  • WCN has a debt to FCF ratio of 6.99. This is a slightly negative value and a sign of low solvency as WCN would need 6.99 years to pay back of all of its debts.
  • The Debt to FCF ratio of WCN (6.99) is better than 64.00% of its industry peers.
  • A Debt/Equity ratio of 1.07 is on the high side and indicates that WCN has dependencies on debt financing.
  • WCN's Debt to Equity ratio of 1.07 is in line compared to the rest of the industry. WCN outperforms 52.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 6.99
Altman-Z 3.04
ROIC/WACC0.93
WACC8.09%
WCN.CA Yearly LT Debt VS Equity VS FCFWCN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 0.67 indicates that WCN may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.67, WCN is doing worse than 68.00% of the companies in the same industry.
  • WCN has a Quick Ratio of 0.67. This is a bad value and indicates that WCN is not financially healthy enough and could expect problems in meeting its short term obligations.
  • WCN's Quick ratio of 0.67 is on the low side compared to the rest of the industry. WCN is outperformed by 60.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.67
Quick Ratio 0.67
WCN.CA Yearly Current Assets VS Current LiabilitesWCN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • The Earnings Per Share has been growing slightly by 7.52% over the past year.
  • The Earnings Per Share has been growing by 14.21% on average over the past years. This is quite good.
EPS 1Y (TTM)7.52%
EPS 3Y10.57%
EPS 5Y14.21%
EPS Q2Q%11.21%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%5%

3.2 Future

  • WCN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.51% yearly.
  • The Revenue is expected to grow by 6.26% on average over the next years.
EPS Next Y11.61%
EPS Next 2Y12.62%
EPS Next 3Y13.89%
EPS Next 5Y8.51%
Revenue Next Year5.78%
Revenue Next 2Y6.14%
Revenue Next 3Y7.08%
Revenue Next 5Y6.26%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
WCN.CA Yearly Revenue VS EstimatesWCN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5B 10B 15B
WCN.CA Yearly EPS VS EstimatesWCN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 31.69, WCN can be considered very expensive at the moment.
  • 68.00% of the companies in the same industry are more expensive than WCN, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 26.99. WCN is around the same levels.
  • WCN is valuated quite expensively with a Price/Forward Earnings ratio of 28.40.
  • WCN's Price/Forward Earnings is on the same level as the industry average.
  • WCN's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 28.06.
Industry RankSector Rank
PE 31.69
Fwd PE 28.4
WCN.CA Price Earnings VS Forward Price EarningsWCN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • WCN's Enterprise Value to EBITDA is on the same level as the industry average.
  • WCN's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 33.86
EV/EBITDA 16.9
WCN.CA Per share dataWCN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The decent profitability rating of WCN may justify a higher PE ratio.
  • WCN's earnings are expected to grow with 13.89% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.73
PEG (5Y)2.23
EPS Next 2Y12.62%
EPS Next 3Y13.89%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.81%, WCN is not a good candidate for dividend investing.
  • WCN's Dividend Yield is a higher than the industry average which is at 1.02.
  • With a Dividend Yield of 0.81, WCN pays less dividend than the S&P500 average, which is at 1.85.
Industry RankSector Rank
Dividend Yield 0.81%

5.2 History

  • The dividend of WCN is nicely growing with an annual growth rate of 12.03%!
  • WCN has been paying a dividend for at least 10 years, so it has a reliable track record.
  • As WCN did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)12.03%
Div Incr Years7
Div Non Decr Years7
WCN.CA Yearly Dividends per shareWCN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 52.24% of the earnings are spent on dividend by WCN. This is a bit on the high side, but may be sustainable.
  • The dividend of WCN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP52.24%
EPS Next 2Y12.62%
EPS Next 3Y13.89%
WCN.CA Yearly Income VS Free CF VS DividendWCN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
WCN.CA Dividend Payout.WCN.CA Dividend Payout, showing the Payout Ratio.WCN.CA Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

WASTE CONNECTIONS INC

TSX:WCN (2/20/2026, 7:00:00 PM)

223.74

-3.77 (-1.66%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)02-11
Earnings (Next)04-21
Inst Owners89.12%
Inst Owner ChangeN/A
Ins Owners0.11%
Ins Owner ChangeN/A
Market Cap57.28B
Revenue(TTM)N/A
Net Income(TTM)622.05M
Analysts83
Price Target208.33 (-6.89%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.81%
Yearly Dividend1.6
Dividend Growth(5Y)12.03%
DP52.24%
Div Incr Years7
Div Non Decr Years7
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.57%
Min EPS beat(2)2.03%
Max EPS beat(2)3.11%
EPS beat(4)3
Avg EPS beat(4)0.47%
Min EPS beat(4)-5.03%
Max EPS beat(4)3.11%
EPS beat(8)7
Avg EPS beat(8)1.66%
EPS beat(12)9
Avg EPS beat(12)1.16%
EPS beat(16)12
Avg EPS beat(16)1.4%
Revenue beat(2)0
Avg Revenue beat(2)-0.52%
Min Revenue beat(2)-0.59%
Max Revenue beat(2)-0.45%
Revenue beat(4)0
Avg Revenue beat(4)-0.51%
Min Revenue beat(4)-0.75%
Max Revenue beat(4)-0.25%
Revenue beat(8)2
Avg Revenue beat(8)-0.18%
Revenue beat(12)3
Avg Revenue beat(12)-0.28%
Revenue beat(16)6
Avg Revenue beat(16)-0.06%
PT rev (1m)1.39%
PT rev (3m)-27.69%
EPS NQ rev (1m)-0.89%
EPS NQ rev (3m)-1.03%
EPS NY rev (1m)-0.04%
EPS NY rev (3m)-0.09%
Revenue NQ rev (1m)-0.13%
Revenue NQ rev (3m)-0.13%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 31.69
Fwd PE 28.4
P/S 4.47
P/FCF 33.86
P/OCF 17.23
P/B 5.16
P/tB N/A
EV/EBITDA 16.9
EPS(TTM)7.06
EY3.16%
EPS(NY)7.88
Fwd EY3.52%
FCF(TTM)6.61
FCFY2.95%
OCF(TTM)12.99
OCFY5.8%
SpS50.07
BVpS43.32
TBVpS-11.7
PEG (NY)2.73
PEG (5Y)2.23
Graham Number82.96
Profitability
Industry RankSector Rank
ROA 2.99%
ROE 7.69%
ROCE 9.54%
ROIC 7.55%
ROICexc 7.6%
ROICexgc 17.01%
OM 19.06%
PM (TTM) 6.65%
GM 42.1%
FCFM 13.2%
ROA(3y)4.08%
ROA(5y)3.58%
ROE(3y)9.84%
ROE(5y)8.27%
ROIC(3y)7.1%
ROIC(5y)6.62%
ROICexc(3y)7.13%
ROICexc(5y)6.71%
ROICexgc(3y)16.04%
ROICexgc(5y)15.16%
ROCE(3y)8.97%
ROCE(5y)8.36%
ROICexgc growth 3Y4.71%
ROICexgc growth 5Y6.27%
ROICexc growth 3Y5.49%
ROICexc growth 5Y5.39%
OM growth 3Y2.81%
OM growth 5Y2.48%
PM growth 3Y-11.67%
PM growth 5Y-8.02%
GM growth 3Y0.97%
GM growth 5Y0.56%
F-Score6
Asset Turnover0.45
Health
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 6.99
Debt/EBITDA 2.86
Cap/Depr 96.51%
Cap/Sales 12.74%
Interest Coverage 250
Cash Conversion 80.4%
Profit Quality 198.46%
Current Ratio 0.67
Quick Ratio 0.67
Altman-Z 3.04
F-Score6
WACC8.09%
ROIC/WACC0.93
Cap/Depr(3y)94.39%
Cap/Depr(5y)92.61%
Cap/Sales(3y)12.05%
Cap/Sales(5y)12.09%
Profit Quality(3y)159.7%
Profit Quality(5y)199.37%
High Growth Momentum
Growth
EPS 1Y (TTM)7.52%
EPS 3Y10.57%
EPS 5Y14.21%
EPS Q2Q%11.21%
EPS Next Y11.61%
EPS Next 2Y12.62%
EPS Next 3Y13.89%
EPS Next 5Y8.51%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%5%
Revenue Next Year5.78%
Revenue Next 2Y6.14%
Revenue Next 3Y7.08%
Revenue Next 5Y6.26%
EBIT growth 1Y4.81%
EBIT growth 3Y16.36%
EBIT growth 5Y13.35%
EBIT Next Year77.97%
EBIT Next 3Y27.4%
EBIT Next 5Y19.26%
FCF growth 1Y4.33%
FCF growth 3Y7.13%
FCF growth 5Y6.05%
OCF growth 1Y15.9%
OCF growth 3Y9.49%
OCF growth 5Y7.67%

WASTE CONNECTIONS INC / WCN.CA FAQ

What is the ChartMill fundamental rating of WASTE CONNECTIONS INC (WCN.CA) stock?

ChartMill assigns a fundamental rating of 4 / 10 to WCN.CA.


What is the valuation status of WASTE CONNECTIONS INC (WCN.CA) stock?

ChartMill assigns a valuation rating of 3 / 10 to WASTE CONNECTIONS INC (WCN.CA). This can be considered as Overvalued.


What is the profitability of WCN stock?

WASTE CONNECTIONS INC (WCN.CA) has a profitability rating of 7 / 10.


What are the PE and PB ratios of WASTE CONNECTIONS INC (WCN.CA) stock?

The Price/Earnings (PE) ratio for WASTE CONNECTIONS INC (WCN.CA) is 31.69 and the Price/Book (PB) ratio is 5.16.


Can you provide the dividend sustainability for WCN stock?

The dividend rating of WASTE CONNECTIONS INC (WCN.CA) is 5 / 10 and the dividend payout ratio is 52.24%.