WASTE CONNECTIONS INC (WCN) Stock Fundamental Analysis

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

170.02 USD
+0.74 (+0.44%)
Last: Feb 5, 2026, 03:31 PM
Fundamental Rating

5

WCN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 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 quite expensive at the moment. It does show a decent growth rate.


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.
  • Each year in the past 5 years WCN has been profitable.
  • 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

  • The Return On Assets of WCN (2.99%) is better than 62.50% of its industry peers.
  • WCN's Return On Equity of 7.69% is fine compared to the rest of the industry. WCN outperforms 65.00% of its industry peers.
  • With a decent Return On Invested Capital value of 7.55%, WCN is doing good in the industry, outperforming 67.50% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for WCN is below the industry average of 10.58%.
  • The last Return On Invested Capital (7.55%) for WCN is above the 3 year average (7.10%), which is a sign of increasing profitability.
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

  • The Profit Margin of WCN (6.65%) is better than 76.25% of its industry peers.
  • In the last couple of years the Profit Margin of WCN has declined.
  • With an excellent Operating Margin value of 19.06%, WCN belongs to the best of the industry, outperforming 91.25% of the companies in the same industry.
  • In the last couple of years the Operating Margin of WCN has grown nicely.
  • Looking at the Gross Margin, with a value of 42.10%, WCN is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • 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.
  • Compared to 1 year ago, WCN has about the same amount of shares outstanding.
  • WCN has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, WCN has a worse debt to assets ratio.
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.
  • WCN's Altman-Z score of 3.08 is fine compared to the rest of the industry. WCN outperforms 68.75% of its industry peers.
  • The Debt to FCF ratio of WCN is 6.99, which is on the high side as it means it would take WCN, 6.99 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 6.99, WCN is in the better half of the industry, outperforming 67.50% of the companies in the same industry.
  • WCN has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external 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/WACC0.93
WACC8.08%
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

  • WCN has a Current 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.
  • The Current ratio of WCN (0.67) is worse than 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%.
  • The Earnings Per Share has been growing by 11.90% on average over the past years. This is quite good.
  • 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.
  • WCN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.76% yearly.
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

  • The Price/Earnings ratio is 33.87, which means the current valuation is very expensive for WCN.
  • WCN's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 28.25. WCN is around the same levels.
  • The Price/Forward Earnings ratio is 29.58, which means the current valuation is very expensive for WCN.
  • WCN's Price/Forward Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.50, WCN is valued at the same level.
Industry RankSector Rank
PE 33.87
Fwd PE 29.58
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 35.26
EV/EBITDA 17.18
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 an expensive valuation of the company.
  • The decent profitability rating of WCN may justify a higher PE ratio.
PEG (NY)4.04
PEG (5Y)2.85
EPS Next 2Y9.54%
EPS Next 3Y10.89%

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

4

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 0.83.
  • Compared to an average S&P500 Dividend Yield of 1.82, WCN's dividend is way lower than the S&P500 average.
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.
  • 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

  • WCN pays out 52.24% of its income as dividend. 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 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 (2/5/2026, 3:31:59 PM)

170.02

+0.74 (+0.44%)

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 Cap43.53B
Revenue(TTM)9.35B
Net Income(TTM)622.05M
Analysts84.21
Price Target148.01 (-12.95%)
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 33.87
Fwd PE 29.58
P/S 4.65
P/FCF 35.26
P/OCF 17.94
P/B 5.38
P/tB N/A
EV/EBITDA 17.18
EPS(TTM)5.02
EY2.95%
EPS(NY)5.75
Fwd EY3.38%
FCF(TTM)4.82
FCFY2.84%
OCF(TTM)9.48
OCFY5.57%
SpS36.54
BVpS31.61
TBVpS-8.54
PEG (NY)4.04
PEG (5Y)2.85
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
WACC8.08%
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)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 33.87 and the Price/Book (PB) ratio is 5.38.


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%.