WASTE CONNECTIONS INC (WCN) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:WCN • CA94106B1013

169.2 USD
+0.02 (+0.01%)
At close: Feb 6, 2026
169.1 USD
-0.1 (-0.06%)
After Hours: 2/6/2026, 8:11:21 PM
Fundamental Rating

5

Taking everything into account, WCN scores 5 out of 10 in our fundamental rating. WCN was compared to 80 industry peers in the Commercial Services & Supplies industry. While WCN has a great profitability rating, there are quite some concerns on its financial health. WCN is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • WCN had positive earnings in the past year.
  • WCN had a positive operating cash flow in the past year.
  • WCN had positive earnings in each of the past 5 years.
  • WCN had a positive operating cash flow in each of the past 5 years.
WCN Yearly Net Income VS EBIT VS OCF VS FCFWCN 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

  • Looking at the Return On Assets, with a value of 2.99%, WCN is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
  • The Return On Equity of WCN (7.69%) is better than 65.00% of its industry peers.
  • The Return On Invested Capital of WCN (7.55%) is better than 67.50% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for WCN is below the industry average of 10.58%.
  • 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 Yearly ROA, ROE, ROICWCN 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 76.25% of the companies in the same industry.
  • WCN's Profit Margin has declined in the last couple of years.
  • The Operating Margin of WCN (19.06%) is better than 91.25% 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 75.00% of its industry peers.
  • In the last couple of years the Gross Margin of WCN has remained more or less at the same level.
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 Yearly Profit, Operating, Gross MarginsWCN 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.
  • The number of shares outstanding for WCN remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for WCN has been reduced compared to 5 years ago.
  • The debt/assets ratio for WCN is higher compared to a year ago.
WCN Yearly Shares OutstandingWCN Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
WCN Yearly Total Debt VS Total AssetsWCN 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

  • WCN has an Altman-Z score of 3.08. This indicates that WCN is financially healthy and has little risk of bankruptcy at the moment.
  • With a decent Altman-Z score value of 3.08, WCN is doing good in the industry, outperforming 68.75% of the companies in the same industry.
  • 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.
  • WCN has a better Debt to FCF ratio (6.99) than 67.50% 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 on the low side compared to the rest of the industry. WCN is outperformed by 71.25% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 6.99
Altman-Z 3.08
ROIC/WACC0.94
WACC8.02%
WCN Yearly LT Debt VS Equity VS FCFWCN 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.
  • WCN's Current ratio of 0.67 is on the low side compared to the rest of the industry. WCN is outperformed by 87.50% of its industry peers.
  • 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.
  • With a Quick ratio value of 0.67, WCN is not doing good in the industry: 81.25% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.67
Quick Ratio 0.67
WCN Yearly Current Assets VS Current LiabilitesWCN 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

5

3. Growth

3.1 Past

  • WCN shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.91%.
  • WCN shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.90% yearly.
  • Looking at the last year, WCN shows a small growth in Revenue. The Revenue has grown by 7.58% in the last year.
  • Measured over the past years, WCN shows a quite strong growth in Revenue. The Revenue has been growing by 10.60% on average per year.
EPS 1Y (TTM)5.91%
EPS 3Y14.04%
EPS 5Y11.9%
EPS Q2Q%6.67%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y13.19%
Revenue growth 5Y10.6%
Sales Q2Q%5.13%

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 9.98% yearly.
  • The Revenue is expected to grow by 6.76% on average over the next years.
EPS Next Y8.39%
EPS Next 2Y9.54%
EPS Next 3Y10.89%
EPS Next 5Y9.98%
Revenue Next Year6.33%
Revenue Next 2Y6.05%
Revenue Next 3Y6.2%
Revenue Next 5Y6.76%

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 stable.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
WCN Yearly Revenue VS EstimatesWCN 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 Yearly EPS VS EstimatesWCN 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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2

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 33.71 indicates a quite expensive valuation of WCN.
  • WCN's Price/Earnings is on the same level as the industry average.
  • WCN is valuated rather expensively when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
  • WCN is valuated quite expensively with a Price/Forward Earnings ratio of 29.44.
  • The rest of the industry has a similar Price/Forward Earnings ratio as WCN.
  • WCN is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 27.78, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 33.71
Fwd PE 29.44
WCN Price Earnings VS Forward Price EarningsWCN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

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 35.09
EV/EBITDA 17.17
WCN Per share dataWCN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates WCN does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of WCN may justify a higher PE ratio.
PEG (NY)4.02
PEG (5Y)2.83
EPS Next 2Y9.54%
EPS Next 3Y10.89%

More info and screens

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

4

5. Dividend

5.1 Amount

  • WCN has a yearly dividend return of 0.81%, which is pretty low.
  • WCN's Dividend Yield is a higher than the industry average which is at 0.83.
  • With a Dividend Yield of 0.81, WCN pays less dividend than the S&P500 average, which is at 1.83.
Industry RankSector Rank
Dividend Yield 0.81%

5.2 History

  • On average, the dividend of WCN grows each year by 12.03%, which is quite nice.
  • WCN has been paying a dividend for at least 10 years, so it has a reliable track record.
  • WCN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)12.03%
Div Incr Years3
Div Non Decr Years3
WCN Yearly Dividends per shareWCN 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.
  • WCN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP52.24%
EPS Next 2Y9.54%
EPS Next 3Y10.89%
WCN Yearly Income VS Free CF VS DividendWCN 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 Dividend Payout.WCN Dividend Payout, showing the Payout Ratio.WCN Dividend Payout.PayoutRetained Earnings

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WASTE CONNECTIONS INC

NYSE:WCN (2/6/2026, 8:11:21 PM)

After market: 169.1 -0.1 (-0.06%)

169.2

+0.02 (+0.01%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)10-21
Earnings (Next)02-11
Inst Owners89.12%
Inst Owner Change-2.94%
Ins Owners0.11%
Ins Owner Change-1.54%
Market Cap43.32B
Revenue(TTM)9.35B
Net Income(TTM)622.05M
Analysts84.21
Price Target148.01 (-12.52%)
Short Float %0.82%
Short Ratio1.66
Dividend
Industry RankSector Rank
Dividend Yield 0.81%
Yearly Dividend1.17
Dividend Growth(5Y)12.03%
DP52.24%
Div Incr Years3
Div Non Decr Years3
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)-0.64%
PT rev (3m)-28.4%
EPS NQ rev (1m)-0.19%
EPS NQ rev (3m)-0.31%
EPS NY rev (1m)-0.04%
EPS NY rev (3m)0.65%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.04%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.01%
Valuation
Industry RankSector Rank
PE 33.71
Fwd PE 29.44
P/S 4.63
P/FCF 35.09
P/OCF 17.86
P/B 5.35
P/tB N/A
EV/EBITDA 17.17
EPS(TTM)5.02
EY2.97%
EPS(NY)5.75
Fwd EY3.4%
FCF(TTM)4.82
FCFY2.85%
OCF(TTM)9.48
OCFY5.6%
SpS36.54
BVpS31.61
TBVpS-8.54
PEG (NY)4.02
PEG (5Y)2.83
Graham Number59.75
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 3.08
F-Score6
WACC8.02%
ROIC/WACC0.94
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)5.91%
EPS 3Y14.04%
EPS 5Y11.9%
EPS Q2Q%6.67%
EPS Next Y8.39%
EPS Next 2Y9.54%
EPS Next 3Y10.89%
EPS Next 5Y9.98%
Revenue 1Y (TTM)7.58%
Revenue growth 3Y13.19%
Revenue growth 5Y10.6%
Sales Q2Q%5.13%
Revenue Next Year6.33%
Revenue Next 2Y6.05%
Revenue Next 3Y6.2%
Revenue Next 5Y6.76%
EBIT growth 1Y4.81%
EBIT growth 3Y16.36%
EBIT growth 5Y13.35%
EBIT Next Year77.97%
EBIT Next 3Y27.4%
EBIT Next 5Y19.22%
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 FAQ

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

ChartMill assigns a fundamental rating of 5 / 10 to WCN.


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

ChartMill assigns a valuation rating of 2 / 10 to WASTE CONNECTIONS INC (WCN). This can be considered as Overvalued.


What is the profitability of WCN stock?

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


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

The Price/Earnings (PE) ratio for WASTE CONNECTIONS INC (WCN) is 33.71 and the Price/Book (PB) ratio is 5.35.


Can you provide the dividend sustainability for WCN stock?

The dividend rating of WASTE CONNECTIONS INC (WCN) is 4 / 10 and the dividend payout ratio is 52.24%.