Waste Connections Inc (WCN)
UndervaluedFundamental
69
Price
$186.60
Market Cap
$42.33B
Part 1 · What the company is worth
Overview
Waste Connections, Inc. provides non-hazardous waste collection, transfer, and disposal services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals. The company owns and operates transfer stations that receive, compact, and/or load waste to be transported to landfills or treatment facilities through truck, rail, or barge; develops, owns, and operates projects or the beneficial reuse of landfill gas through landfill network; and intermodal services for the movement of cargo and solid waste containers. In addition, it provides E&P waste treatment, recovery, and disposal services for waste created through the initial drilling and completion of an oil or natural gas well, such as drilling fluids, drill cuttings, completion fluids, and flowback water; production wastes and produced water during a well's operating life; contaminated soils that require treatment during site reclamation; and substances, which require clean-up after a spill, reserve pit clean-up, or pipeline rupture. Waste Connections, Inc. was founded in 1997 and is based in Woodbridge, Canada.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$9.76B
Trailing 12 months (through 6/30/2026)
Net Income
$1.06B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$1.23B
Total Equity
$8.25B
Total Liabilities
$12.88B
Current Ratio
0.66
Interest Coverage
4.75
Debt/EBITDA
3.27
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$298.29
Current Price
$186.60
Margin of Safety
+37.4%
Fair Value Range
$193.89 - $402.70
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
44.96
ROE
13.1%
P/B Ratio
5.94
P/FCF
38.15
Gross Margin
42.5%
ROIC
6.8%
Profitability Radar
Value Creation (Economic Moat)
ROIC
6.8%
WACC
7.3%
ROIC − WACC
-0.4 pp
ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.
Fundamental Analysis Criteria
Passed (19)
- EPS shows upward trend
- EPS CAGR 12.02%
- Price CAGR 11.59%
- ROIC 6.8%
- Gross margin 42.5%
- Debt/equity ratio
- Operating margin 17.0%
- Positive free cash flow
- Interest coverage
- Debt/EBITDA
- Return on tangible assets
- ROE 13.1%
- Revenue growth 5Y 11.7%
- Earnings surprise, average 3.7%
- PEG ratio 0.98
- Earnings quality (operating cash flow / net income) 2.37
- Share dilution -0.1%
- Net margin trend 10.9% vs 7.0%
- Piotroski F-Score 6/9
Failed (7)
- P/FCF 38.15
- P/B ratio 5.94
- CapEx intensity
- Current ratio
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (1)
- Dividend payout –
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Ronald J. Mittelstaedt | Founder, CEO, President & Director | 62 |
| Ms. Mary Anne Whitney | Executive VP & CFO | 61 |
| Mr. Patrick J. Shea J.D. | Executive VP, General Counsel & Secretary | 54 |
| Mr. James M. Little | Executive Vice President of Engineering & Disposal | 63 |
| Mr. Domenico D. Pio | Senior Vice President of Operations | 61 |
| Mr. Jason Jon Craft | Executive VP & COO | 49 |
| Mr. Derek Tan | Senior VP & Chief Accounting Officer | 40 |
| Mr. Eric O. Hansen | Senior VP & Chief Information Officer | 60 |
| Mr. Joe Gregory Box Jr. | Vice President of Investor Relations | - |
| Mr. John M. Perkey | VP & Deputy General Counsel of Compliance and Government Affairs | 43 |
Audit Risk
4
Board Risk
1
Compensation Risk
2
Shareholder Rights Risk
2
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-12
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-10-22
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-10-21
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much WCN moves, measured on its daily prices.
More volatile than 26% of the tracked stocks (90-day volatility).
- Volatility 30d
- 35.2%
- Volatility 90d
- 27.1%
- Beta vs S&P 500 (1y)
- -0.20Correlation -0.10
- Max drawdown (12m)
- -16.5%
- ATR (14d, % of price)
- 2.37%
Earnings reactions
How WCN moved around its past quarterly results.
Next earnings release
No upcoming release on the calendar.
What usually happens
- Over the last 12 releases the stock moved a median of 2.2% the next day, up or down.
- Next-day moves: up 7, down 5 (out of 12).
- Of the 4 releases that beat estimates, the stock fell the next day after 0.
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Oct 21, 2026 | After the close | 1.52 | 1.58 | +3.9% | -1.1% | +9.9% | n/a |
| Jul 22, 2026 | After the close | 1.37 | 1.50 | +9.5% | +1.6% | +0.1% | +2.9% |
| Apr 22, 2026 | After the close | 1.20 | 1.23 | +2.9% | +3.8% | +7.9% | +4.6% |
| Feb 11, 2026 | After the close | 1.29 | 1.29 | -0.3% | -0.9% | -8.2% | -3.3% |
| Oct 21, 2025 | After the close | 1.40 | 1.44 | +3.1% | +1.3% | +2.7% | +0.2% |
| Jul 23, 2025 | After the close | n/a | n/a | n/a | -1.8% | +2.1% | +2.6% |
| Apr 23, 2025 | After the close | n/a | n/a | n/a | +2.0% | +0.5% | +1.0% |
| Feb 12, 2025 | After the close | n/a | n/a | n/a | -2.9% | -0.6% | -1.1% |
| Oct 23, 2024 | After the close | n/a | n/a | n/a | -0.5% | -1.0% | -1.5% |
| Jul 24, 2024 | After the close | n/a | n/a | n/a | +0.5% | -2.4% | -1.1% |
| Apr 24, 2024 | After the close | n/a | n/a | n/a | -1.8% | -0.6% | -2.5% |
| Feb 13, 2024 | After the close | n/a | n/a | n/a | +3.4% | +4.8% | +6.9% |
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on WCN and what the price did next.
- 5/25/2026PositiveHere's How Much You Would Have Made Owning Waste Connections Stock In The Last 15 Years
- +1 day
- -2.0%
- +3 days
- -4.2%
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for WCN.
- 5/25/2026POSITIVEHere's How Much You Would Have Made Owning Waste Connections Stock In The Last 15 Years
Waste Connections Inc. has delivered substantial returns for shareholders over the past 15 years, with an investment of $1,000 in May 2011 growing to approximately $11,000 by May 2026. This represents a cumulative gain of over 1,000% and an annualized return of roughly 17.5%. The company's consistent performance is attributed to its strong market position in the waste management sector, strategic acquisitions, and operational efficiency, demonstrating its resilience and growth potential even through economic cycles. Investors have benefited from this steady appreciation.