Subscribe

Waste Connections, Inc. (WCN.TO)

CAD238.08 -4.35 (-1.79%)
CA TSX Industrials Waste Management
Address 6220 Highway 7 L4H 4G3
Woodbridge, ON, CA
CEO Ronald J. Mittelstaedt
IPO 2002-04-25
ISIN CA94106B1013

Explore sections of this company profile

Also trades on New York Stock Exchange · WCN (USD) Toronto Stock Exchange · WCN.TO (CAD)
Description

Waste Connections, Inc. is a prominent provider of comprehensive waste management services across the United States and Canada, specializing in the collection, transfer, disposal, and resource recovery of non-hazardous materials. The company offers collection services to a broad spectrum of clients, including residential households, commercial enterprises, municipalities, industrial facilities, and those within the exploration and production (E&P) sectors. Beyond primary collection, it operates landfill disposal sites and manages recycling programs that process various materials such as compost, cardboard, mixed paper, plastic containers, glass bottles, and both ferrous and aluminum metals. Its infrastructure incorporates numerous transfer stations, designed to compact or load waste for efficient transportation to landfills or dedicated treatment facilities via trucks, rail, or barges. Waste Connections further provides intermodal services, facilitating the rail haulage of cargo and solid waste containers throughout the Pacific Northwest region via its specialized network of intermodal facilities. A significant component of its specialized offerings encompasses E&P waste treatment, recovery, and disposal. This includes handling complex waste streams generated from oil and natural gas exploration and production activities, such as drilling and completion fluids, drill cuttings, flowback and produced water, contaminated soils requiring reclamation treatment, and materials resulting from spill clean-ups, reserve pit remediation, or pipeline ruptures. The company also extends equipment leasing options to its clientele. As of December 31, 2021, Waste Connections' extensive operational footprint included the ownership of 334 solid waste collection operations; 142 transfer stations; 61 municipal solid waste (MSW) landfills; 12 E&P waste landfills; 14 non-MSW landfills; 71 recycling operations; 4 intermodal operations; 23 E&P liquid waste injection wells; and 19 E&P waste treatment and oil recovery facilities. Additionally, the company actively managed an extra 53 transfer stations, 10 MSW landfills, and 2 intermodal operations. Established in 1997, Waste Connections, Inc. maintains its corporate headquarters in Woodbridge, Canada.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
Loading outlook…
Loading forecast...
Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
Loading risk profile…
Price Chart
Averages
Trend
Price
Levels
Draw
CAD238.08 -4.35 (-1.79%)
Loading historical data…
Volume Profile
Loading…
Liquidity & share structure
Average Volume
381.6K
Beta
0.48
Float Shares
253.19M
Free Float %
99.6%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.20% -3.95% -8.05% -12.35% -17.08% -14.53% -23.49% +10.90% +41.97% +258.93% +1,448.08%
Rolling Volatility
Loading…
Drawdown
Loading…
Relative Strength
Loading…
Monthly Returns Heatmap
From To
Loading…
Annual Monthly Returns
Loading…
Daily Returns Distribution
vs.
Loading histogram data…

Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (33 ratings, all time) Buy
Price Targets & DCF
Current price
238.08
DCF (Unlevered) 222.63 -6.5%
DCF (Levered) 194.72 -18.2%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 85% Bullish
Rating 2026-05 Change
Strong Buy 6 0
Buy 17 0
Hold 4 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.79
Grey zone
Piotroski F-Score
6 / 9
Average
MOAT Score
3 / 10
No MOAT
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
4 / 5
High
ROA Score
4 / 5
High
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Waste Management: +4.3%
    +6.1% Q1'26: +4.6% (vs Q1'25)
  • EPS growth Waste Management: +10.8%
    +74.5% Q1'26: -8.6% (vs Q1'25)
  • FCF margin FCF growth · Waste Management: +46.5%
    +9.0% Q1'26: +10.5% (vs Q1'25)
  • EBIT margin Waste Management: +13.2%
    +18.5% Q1'26: +15.4% (vs Q1'25)
  • ROIC Waste Management: +6.2%
    +7.7% Q1'26: +6.4% (vs Q1'25)
  • Share dilution Waste Management: +0.0%
    -0.3% Q1'26: -1.2% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Waste Management: 1.12×
    3.06× Q1'26: 3.54× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.54) × ERP
WACC = 81% × Ke + 19% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 222.63 Current price: 238.08
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
26 Rev. Ana.
25 EPS Ana.
Dec 2027
26 Rev. Ana.
25 EPS Ana.
Dec 2028
12 Rev. Ana.
12 EPS Ana.
Dec 2029
25 Rev. Ana.
11 EPS Ana.
Dec 2030
15 Rev. Ana.
11 EPS Ana.
Revenue
2.12B
est: 2.67B (-20.8%)
3.38B
est: 4.43B (-23.9%)
4.63B
est: 5.82B (-20.4%)
4.92B
est: 6.47B (-23.9%)
5.39B
est: 7.06B (-23.6%)
5.45B
est: 7.00B (-22.2%)
6.15B
est: 7.64B (-19.5%)
7.21B
est: 9.72B (-25.8%)
8.02B
est: 10.88B (-26.3%)
8.92B
est: 8.78B (+1.6%)
9.47B
est: 9.51B (-0.4%)
9.80B
9.71B – 9.95B
+3.0% YoY
10.38B
10.22B – 10.66B
+6.0% YoY
10.95B
10.81B – 11.18B
+5.5% YoY
11.70B
11.55B – 11.94B
+6.8% YoY
12.31B
12.16B – 12.57B
+5.3% YoY
EBITDA
207.38M
est: 713.43M (-70.9%)
917.99M
est: 1.18B (-22.4%)
1.27B
est: 1.55B (-18.4%)
1.52B
est: 1.73B (-11.9%)
1.60B
est: 1.88B (-15.2%)
1.17B
est: 1.87B (-37.4%)
1.75B
est: 2.04B (-14.3%)
2.17B
est: 2.59B (-16.3%)
2.26B
est: 2.90B (-22.1%)
2.25B
est: 2.84B (-20.6%)
2.98B
est: 3.07B (-2.8%)
3.16B
3.14B – 3.21B
+3.0% YoY
3.35B
3.30B – 3.44B
+6.0% YoY
3.54B
3.49B – 3.61B
+5.5% YoY
3.78B
3.73B – 3.86B
+6.8% YoY
3.98B
3.93B – 4.06B
+5.3% YoY
EBIT
-62.05M
est: 364.05M (-117.0%)
454.07M
est: 603.72M (-24.8%)
633.81M
est: 792.21M (-20.0%)
839.24M
est: 880.71M (-4.7%)
853.26M
est: 960.75M (-11.2%)
416.29M
est: 953.25M (-56.3%)
933.54M
est: 1.04B (-10.2%)
1.25B
est: 1.32B (-5.4%)
1.26B
est: 1.48B (-15.1%)
1.09B
est: 1.70B (-35.8%)
1.75B
est: 1.84B (-4.6%)
1.89B
1.88B – 1.92B
+3.0% YoY
2.01B
1.97B – 2.06B
+6.0% YoY
2.12B
2.09B – 2.16B
+5.5% YoY
2.26B
2.23B – 2.31B
+6.8% YoY
2.38B
2.35B – 2.43B
+5.3% YoY
Net Income
-95.76M
est: 428.72M (-122.3%)
246.54M
est: 409.08M (-39.7%)
576.82M
est: 548.33M (+5.2%)
546.87M
est: 679.46M (-19.5%)
566.84M
est: 678.71M (-16.5%)
204.68M
est: 678.02M (-69.8%)
618.05M
est: 817.56M (-24.4%)
835.66M
est: 989.73M (-15.6%)
762.80M
est: 1.10B (-30.6%)
617.57M
est: 1.23B (-49.8%)
1.08B
est: 1.33B (-19.3%)
1.39B
1.35B – 1.42B
+4.3% YoY
1.56B
1.49B – 1.67B
+12.1% YoY
1.73B
1.71B – 1.78B
+11.1% YoY
1.94B
1.91B – 1.99B
+11.7% YoY
2.12B
2.08B – 2.18B
+9.4% YoY
SGA
237.48M
est: 263.93M (-10.0%)
474.26M
est: 437.68M (+8.4%)
509.64M
est: 574.33M (-11.3%)
524.39M
est: 638.49M (-17.9%)
546.28M
est: 696.52M (-21.6%)
537.63M
est: 691.08M (-22.2%)
612.34M
est: 753.82M (-18.8%)
696.47M
est: 959.09M (-27.4%)
799.12M
est: 1.07B (-25.6%)
883.45M
est: 871.53M (+1.4%)
959.54M
est: 943.60M (+1.7%)
972.30M
963.41M – 986.94M
+3.0% YoY
1.03B
1.01B – 1.06B
+6.0% YoY
1.09B
1.07B – 1.11B
+5.5% YoY
1.16B
1.15B – 1.19B
+6.8% YoY
1.22B
1.21B – 1.25B
+5.3% YoY
EPS
-0.52
est: 1.66 (-131.4%)
1.07
est: 1.58 (-32.3%)
2.19
est: 2.12 (+3.3%)
2.07
est: 2.63 (-21.2%)
2.15
est: 2.62 (-18.1%)
0.78
est: 2.62 (-70.2%)
2.37
est: 3.16 (-25.0%)
3.25
est: 3.83 (-15.1%)
2.95
est: 4.25 (-30.6%)
2.39
est: 4.77 (-49.9%)
4.18
est: 5.17 (-19.2%)
5.39
5.25 – 5.51
+4.3% YoY
6.05
5.76 – 6.47
+12.1% YoY
6.72
6.61 – 6.90
+11.1% YoY
7.51
7.38 – 7.71
+11.7% YoY
8.21
8.08 – 8.44
+9.4% YoY
Recent Grade Changes (3M)
Date Firm Previous New Grade Action
2026-04-28 Barclays Equal Weight Equal Weight Maintain
2026-04-24 JP Morgan Overweight Overweight Maintain
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-28 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-27 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-26 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-25 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-22 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-21 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-20 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-19 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-15 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-14 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-13 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-12 B 3/5 4/5 4/5 4/5 1/5 2/5 1/5
2026-05-11 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-05-08 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-05-07 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-05-06 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-05-05 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-05-04 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-05-01 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-04-30 B 3/5 4/5 4/5 4/5 1/5 2/5 2/5
2026-04-29 B 3/5 3/5 4/5 4/5 1/5 2/5 2/5
2026-04-28 B 3/5 3/5 4/5 4/5 1/5 2/5 2/5
2026-04-27 B 3/5 3/5 4/5 4/5 1/5 2/5 2/5
2026-04-24 B 3/5 3/5 4/5 5/5 1/5 2/5 2/5
2026-04-23 B 3/5 3/5 4/5 5/5 1/5 2/5 2/5
2026-04-22 B 3/5 3/5 4/5 5/5 1/5 2/5 1/5
2026-04-21 B 3/5 3/5 4/5 5/5 1/5 2/5 1/5
2026-04-20 B 3/5 3/5 4/5 5/5 1/5 2/5 1/5
2026-04-17 B 3/5 3/5 4/5 5/5 1/5 2/5 1/5
2026-04-16 B 3/5 3/5 4/5 5/5 1/5 2/5 1/5
2026-04-15 B 3/5 3/5 4/5 5/5 1/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
2.41B
OE per share TTM
9.35
Owner's Yield
4.59%
Maintenance CapEx ratio
88.67%
Maint CapEx / Avg PPE
96.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
73.5K
Shares Outstanding
254.08M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Ronald J. Mittelstaedt Founder, Chief Executive Officer, President & Director 6M male
Mary Anne Whitney Executive Vice President & Chief Financial Officer 2M female
Patrick J. Shea Executive Vice President, General Counsel & Secretary 2M male
James Little Executive Vice President of Engineering & Disposal 2M male
Robert A. Nielsen Senior Vice President of Operations 2M male
Domenico D. Pio Senior Vice President of Operations 2M male
Jason J. Craft Chief Operating Officer & Executive Vice President 2M male
Philip J. Rivard Senior Vice President of Business Development male
Aaron J. Bradley Senior Vice President of Performance Optimization male
Susan R. Netherton Senior Vice President of People, Training & Development female
Derek Tan Senior Vice President & Chief Accounting Officer male
Eric O. Hansen Senior Vice President & Chief Information Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

Share your view on this stock and instantly see how the community has voted over the last 6 months.

These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits