WASTE CONNECTIONS INC (WCN) Stock Fundamental Analysis
NYSE:WCN • CA94106B1013
165.48 USD
+2.48 (+1.52%)
At close: Feb 24, 2026
165.48 USD
0 (0%)
After Hours: 2/24/2026, 8:04:00 PM
We assign a fundamental rating of 5 out of 10 to WCN. WCN was compared to 80 industry peers in the Commercial Services & Supplies industry. WCN has an excellent profitability rating, but there are concerns on its financial health. WCN is valied quite expensively at the moment, while it does show a decent growth rate.
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.
1.2 Ratios
- The Return On Assets of WCN (5.10%) is better than 72.50% of its industry peers.
- The Return On Equity of WCN (13.06%) is better than 71.25% of its industry peers.
- With a decent Return On Invested Capital value of 7.60%, WCN is doing good in the industry, outperforming 68.75% of the companies in the same industry.
- WCN had an Average Return On Invested Capital over the past 3 years of 7.41%. This is below the industry average of 10.62%.
- The 3 year average ROIC (7.41%) for WCN is below the current ROIC(7.60%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.1% | ||
| ROE | 13.06% | ||
| ROIC | 7.6% |
ROA(3y)4.16%
ROA(5y)4.31%
ROE(3y)10.28%
ROE(5y)10.29%
ROIC(3y)7.41%
ROIC(5y)7%
1.3 Margins
- Looking at the Profit Margin, with a value of 11.37%, WCN belongs to the top of the industry, outperforming 88.75% of the companies in the same industry.
- WCN's Profit Margin has improved in the last couple of years.
- The Operating Margin of WCN (19.48%) is better than 92.50% of its industry peers.
- In the last couple of years the Operating Margin of WCN has grown nicely.
- WCN has a Gross Margin of 42.37%. This is in the better half of the industry: WCN outperforms 76.25% of its industry peers.
- WCN's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.48% | ||
| PM (TTM) | 11.37% | ||
| GM | 42.37% |
OM growth 3Y3.01%
OM growth 5Y3.6%
PM growth 3Y-0.62%
PM growth 5Y24.78%
GM growth 3Y2.05%
GM growth 5Y1.25%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so WCN is destroying value.
- Compared to 1 year ago, WCN has less shares outstanding
- Compared to 5 years ago, WCN has less shares outstanding
- The debt/assets ratio for WCN is higher compared to a year ago.
2.2 Solvency
- An Altman-Z score of 3.01 indicates that WCN is not in any danger for bankruptcy at the moment.
- WCN has a Altman-Z score of 3.01. This is in the better half of the industry: WCN outperforms 66.25% of its industry peers.
- The Debt to FCF ratio of WCN is 7.23, which is on the high side as it means it would take WCN, 7.23 years of fcf income to pay off all of its debts.
- With a decent Debt to FCF ratio value of 7.23, WCN is doing good in the industry, outperforming 66.25% 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.
- Looking at the Debt to Equity ratio, with a value of 1.07, WCN is doing worse than 68.75% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | 7.23 | ||
| Altman-Z | 3.01 |
ROIC/WACC0.97
WACC7.83%
2.3 Liquidity
- WCN has a Current Ratio of 0.62. 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 Current ratio value of 0.62, WCN is not doing good in the industry: 88.75% of the companies in the same industry are doing better.
- A Quick Ratio of 0.58 indicates that WCN may have some problems paying its short term obligations.
- WCN has a worse Quick ratio (0.58) than 86.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.62 | ||
| Quick Ratio | 0.58 |
3. Growth
3.1 Past
- The Earnings Per Share has been growing slightly by 7.52% over the past year.
- Measured over the past years, WCN shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.21% on average per year.
- The Revenue has been growing slightly by 6.14% in the past year.
- The Revenue has been growing by 11.69% 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)6.14%
Revenue growth 3Y9.49%
Revenue growth 5Y11.69%
Sales Q2Q%5%
3.2 Future
- The Earnings Per Share is expected to grow by 8.51% on average over the next years. This is quite good.
- Based on estimates for the next years, WCN will show a small growth in Revenue. The Revenue will grow by 6.27% on average per year.
EPS Next Y11.61%
EPS Next 2Y12.62%
EPS Next 3Y13.89%
EPS Next 5Y8.51%
Revenue Next Year5.38%
Revenue Next 2Y5.87%
Revenue Next 3Y6.21%
Revenue Next 5Y6.27%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 32.13, the valuation of WCN can be described as expensive.
- WCN's Price/Earnings is on the same level as the industry average.
- Compared to an average S&P500 Price/Earnings ratio of 26.98, WCN is valued at the same level.
- WCN is valuated quite expensively with a Price/Forward Earnings ratio of 28.79.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of WCN indicates a somewhat cheap valuation: WCN is cheaper than 62.50% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 28.01, WCN is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.13 | ||
| Fwd PE | 28.79 |
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 is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 34.73 | ||
| EV/EBITDA | 16.62 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- WCN has an outstanding profitability rating, which 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)2.77
PEG (5Y)2.26
EPS Next 2Y12.62%
EPS Next 3Y13.89%
5. Dividend
5.1 Amount
- WCN has a yearly dividend return of 0.81%, which is pretty low.
- Compared to an average industry Dividend Yield of 0.80, WCN pays a bit more dividend than its industry peers.
- With a Dividend Yield of 0.81, WCN pays less dividend than the S&P500 average, which is at 1.81.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.81% |
5.2 History
- On average, the dividend of WCN grows each year by 11.37%, 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)11.37%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
- WCN pays out 31.01% of its income as dividend. This is a sustainable payout ratio.
- The dividend of WCN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP31.01%
EPS Next 2Y12.62%
EPS Next 3Y13.89%
165.48
+2.48 (+1.52%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)02-11 2026-02-11/amc
Earnings (Next)04-21 2026-04-21/amc
Inst Owners89.12%
Inst Owner Change2.35%
Ins Owners0.11%
Ins Owner Change5.01%
Market Cap42.37B
Revenue(TTM)9.47B
Net Income(TTM)1.08B
Analysts83
Price Target152.34 (-7.94%)
Short Float %0.9%
Short Ratio1.54
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.81% |
Yearly Dividend1.3
Dividend Growth(5Y)11.37%
DP31.01%
Div Incr Years3
Div Non Decr Years3
Ex-Date02-25 2026-02-25 (0.35)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.4%
Min EPS beat(2)-0.31%
Max EPS beat(2)3.11%
EPS beat(4)3
Avg EPS beat(4)1.65%
Min EPS beat(4)-0.31%
Max EPS beat(4)3.11%
EPS beat(8)6
Avg EPS beat(8)1.47%
EPS beat(12)9
Avg EPS beat(12)1.17%
EPS beat(16)11
Avg EPS beat(16)1.38%
Revenue beat(2)0
Avg Revenue beat(2)-0.71%
Min Revenue beat(2)-0.82%
Max Revenue beat(2)-0.59%
Revenue beat(4)0
Avg Revenue beat(4)-0.65%
Min Revenue beat(4)-0.82%
Max Revenue beat(4)-0.45%
Revenue beat(8)2
Avg Revenue beat(8)-0.2%
Revenue beat(12)2
Avg Revenue beat(12)-0.36%
Revenue beat(16)5
Avg Revenue beat(16)-0.21%
PT rev (1m)2.93%
PT rev (3m)-25.72%
EPS NQ rev (1m)-3.67%
EPS NQ rev (3m)-3.71%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.16%
Revenue NQ rev (1m)-0.71%
Revenue NQ rev (3m)-0.79%
Revenue NY rev (1m)-0.41%
Revenue NY rev (3m)-0.44%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.13 | ||
| Fwd PE | 28.79 | ||
| P/S | 4.48 | ||
| P/FCF | 34.73 | ||
| P/OCF | 17.55 | ||
| P/B | 5.14 | ||
| P/tB | N/A | ||
| EV/EBITDA | 16.62 |
EPS(TTM)5.15
EY3.11%
EPS(NY)5.75
Fwd EY3.47%
FCF(TTM)4.76
FCFY2.88%
OCF(TTM)9.43
OCFY5.7%
SpS36.98
BVpS32.21
TBVpS-8.41
PEG (NY)2.77
PEG (5Y)2.26
Graham Number61.09
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.1% | ||
| ROE | 13.06% | ||
| ROCE | 9.7% | ||
| ROIC | 7.6% | ||
| ROICexc | 7.62% | ||
| ROICexgc | 16.88% | ||
| OM | 19.48% | ||
| PM (TTM) | 11.37% | ||
| GM | 42.37% | ||
| FCFM | 12.88% |
ROA(3y)4.16%
ROA(5y)4.31%
ROE(3y)10.28%
ROE(5y)10.29%
ROIC(3y)7.41%
ROIC(5y)7%
ROICexc(3y)7.44%
ROICexc(5y)7.03%
ROICexgc(3y)16.68%
ROICexgc(5y)15.84%
ROCE(3y)9.46%
ROCE(5y)8.93%
ROICexgc growth 3Y5.3%
ROICexgc growth 5Y5.84%
ROICexc growth 3Y5.56%
ROICexc growth 5Y6.23%
OM growth 3Y3.01%
OM growth 5Y3.6%
PM growth 3Y-0.62%
PM growth 5Y24.78%
GM growth 3Y2.05%
GM growth 5Y1.25%
F-Score6
Asset Turnover0.45
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | 7.23 | ||
| Debt/EBITDA | 2.86 | ||
| Cap/Depr | 96.94% | ||
| Cap/Sales | 12.62% | ||
| Interest Coverage | 5.98 | ||
| Cash Conversion | 78.48% | ||
| Profit Quality | 113.3% | ||
| Current Ratio | 0.62 | ||
| Quick Ratio | 0.58 | ||
| Altman-Z | 3.01 |
F-Score6
WACC7.83%
ROIC/WACC0.97
Cap/Depr(3y)93.59%
Cap/Depr(5y)94.33%
Cap/Sales(3y)12.03%
Cap/Sales(5y)12.17%
Profit Quality(3y)153.2%
Profit Quality(5y)149.35%
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)6.14%
Revenue growth 3Y9.49%
Revenue growth 5Y11.69%
Sales Q2Q%5%
Revenue Next Year5.38%
Revenue Next 2Y5.87%
Revenue Next 3Y6.21%
Revenue Next 5Y6.27%
EBIT growth 1Y8.05%
EBIT growth 3Y12.78%
EBIT growth 5Y15.71%
EBIT Next Year81.87%
EBIT Next 3Y29.59%
EBIT Next 5Y19.58%
FCF growth 1Y3.99%
FCF growth 3Y3.2%
FCF growth 5Y10.39%
OCF growth 1Y8.31%
OCF growth 3Y6.08%
OCF growth 5Y11.38%
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 3 / 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 8 / 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 32.13 and the Price/Book (PB) ratio is 5.14.
Can you provide the dividend sustainability for WCN stock?
The dividend rating of WASTE CONNECTIONS INC (WCN) is 5 / 10 and the dividend payout ratio is 31.01%.