Waste Connections, Inc. (WCN): price, analyst ratings, earnings and fundamentals
Updated 30 October 2026, 21:45 ET
Waste Connections, Inc. (WCN) closed at $184.08 on 30 October 2026, up 1.2%. The stock is up 22.2% over one month and up 9.3% over one year. It trades 2.2% below its 52-week high of $188.20. Analysts recorded 17 actions in the last 90 days; the median price target of $202 is 10.0% above the last close. The company last reported on 21 October 2026 for Q3 2026: EPS of $1.58 against an estimate of $1.52, a beat of 4.0%, on revenue of $2.6 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open WCN in FundSpec.
Analyst ratings
Over the last 90 days FundSpec recorded 17 analyst actions on WCN from 12 firms: 15 maintained or reiterated a view, 1 upgrade and 1 initiation. Price targets were 12 raised and 4 lowered. The most recent targets from 12 firms range from $180 to $221, with a median of $202, 10.0% above the last close.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 27 Oct 2026 | UBS | Maintains Buy | $200.00 to $215.00 |
| 23 Oct 2026 | CIBC | Maintains Outperformer | $184.00 to $207.00 |
| 23 Oct 2026 | Citigroup | Maintains Neutral | $175.00 to $192.00 |
| 23 Oct 2026 | Morgan Stanley | Maintains Overweight | $195.00 to $200.00 |
| 23 Oct 2026 | Oppenheimer | Maintains Outperform | $193.00 to $200.00 |
| 23 Oct 2026 | RBC Capital | Maintains Outperform | $218.00 to $221.00 |
| 23 Oct 2026 | Wells Fargo | Maintains Overweight | $187.00 to $211.00 |
| 23 Oct 2026 | Barclays | Maintains Equal-Weight | $187.00 to $189.00 |
| 23 Oct 2026 | TD Cowen | Maintains Buy | $210.00 to $215.00 |
| 23 Oct 2026 | Scotiabank | Maintains Sector Outperform | $193.00 to $201.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 10 February 2027 after the close for Q4 2026, with EPS expected at $1.39 on revenue of $2.5 billion. Waste Connections, Inc. beat the EPS estimate in 6 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q3 2026 | 21 Oct 2026 | $1.52 | $1.58 | +3.95% | $2.6B |
| Q2 2026 | 22 Jul 2026 | $1.36 | $1.50 | +10.29% | $2.6B |
| Q1 2026 | 22 Apr 2026 | $1.19 | $1.23 | +3.36% | $2.4B |
| Q4 2025 | 11 Feb 2026 | $1.27 | $1.29 | +1.57% | $2.4B |
| Q3 2025 | 21 Oct 2025 | $1.38 | $1.44 | +4.35% | $2.5B |
| Q2 2025 | 23 Jul 2025 | $1.25 | $1.24 | -0.80% | $2.4B |
| Q1 2025 | 23 Apr 2025 | $1.10 | $1.13 | +2.73% | $2.2B |
| Q4 2024 | 12 Feb 2025 | $1.19 | $1.16 | -2.52% | $2.3B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
For the period ended 30 September 2026, Waste Connections, Inc. reported revenue of $2.6 billion and net income of $359.2 million. On a trailing twelve month basis the company shows revenue growth of 6.30%, a gross margin of 42.62%, an operating margin of 17.74% and a return on equity of 14.19%.
Income statement
| Line | Amount |
|---|---|
| Revenue | $2,638,081,000 |
| Cost of Revenue | $1,501,143,000 |
| Gross Profit | $1,136,938,000 |
| Selling, General & Administrative Expenses | $253,934,000 |
| Depreciation & Amortization | $339,408,000 |
| Total Operating Expenses | $2,096,336,000 |
| Operating Profit | $541,745,000 |
| Interest Expense | $96,376,000 |
| Pre-tax Income | $451,125,000 |
| Income Tax Expense | $91,901,000 |
| Net Income | $359,224,000 |
Cash flow
| Line | Amount |
|---|---|
| Cash from Operating Activities | $691,925,000 |
| Stock-based Compensation | $20,285,000 |
| Cash from Investing Activities | -$349,321,000 |
| Capital Expenditures | $294,783,000 |
| Cash from Financing Activities | -$325,107,000 |
| Dividends Paid | $88,391,000 |
| Share Repurchases | $329,925,000 |
| Free Cash Flow | $397,142,000 |
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $95,694,000 |
| Accounts & Notes Receivable, Net | $1,106,208,000 |
| Prepaid Expenses | $235,136,000 |
| Total Current Assets | $1,437,038,000 |
| Plant, Property & Equipment, Net | $9,005,291,000 |
| Operating Lease Right-of-Use Assets | $320,279,000 |
| Goodwill Intangible Assets, Net | $10,381,580,000 |
| Deferred Tax Asset | $139,446,000 |
| Other Long-term Assets | $109,059,000 |
| Total Assets | $21,510,268,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Accounts Payable & Accrued Expenses | $811,498,000 |
| Total Short-term Debt | $12,383,000 |
| Operating Lease Liabilities, Current | $48,043,000 |
| Deferred Liability Charges | $436,145,000 |
| Total Current Liabilities | $2,154,818,000 |
| Long-term Debt | $9,434,870,000 |
| Operating Lease Liabilities, Long-term | $275,113,000 |
| Finance Lease Liabilities | $18,299,000 |
| Deferred Income Taxes | $1,146,675,000 |
| Other Liabilities | $603,087,000 |
| Total Liabilities | $13,626,226,000 |
| Retained Earnings | $5,809,230,000 |
| Other Accumulated Comprehensive Income | -$176,879,000 |
| Total Stockholders Equity | $7,884,042,000 |
| Total Liability & Stockholders Equity | $21,510,268,000 |
Figures as filed with the SEC for the period ended 30 September 2026, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Liquidity
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Cash Ratio | 0.04 | 25th | Calculated as the ratio of Cash and cash equivalents / Current liabilities. This metric calculates the company's ability to repay its short-term debt |
| Current Ratio | 0.67 | 35th | Calculated as the ratio of Current Assets / Current Liabilities. The higher the current ratio, the more capable the company is of paying its obligations |
| Quick Ratio | 0.56 | 36th | Calculated as the ratio of (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities. The quick ratio is a measure of how well a company can meet its short-term financial liabilities. |
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.44 | 83rd | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 1.20 | 80th | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Combined Leverage | 12.34 | 90th | This ratio summarizes the combined effect that the degree of operating leverage (DOL) and the degree of financial leverage have on earnings per share (EPS), given a particular change in sales |
| Degree of Financial Leverage | 1.26 | 77th | Calculated as the ratio of Percentage change in EPS / Percentage change in EBIT. A higher degree of financial leverage means that the company has more volatile EPS. |
| Degree of Operational Leverage | 9.81 | 90th | Calculated as the ratio of Percentage change in EBIT / Percentage change in revenue. It is a measure of how earnings for the company is impacted by its sales activity. |
| Long Term Debt/Long Term Capital | 0.54 | 67th | Calculated as Long-Term Debt / (Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
Earnings Growth (EBIT)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| EBIT Pct Growth 3 year CAGR | 10.0% | 18th | The EBIT compound annual growth rate (CAGR) over the past 3 years |
| EBIT Pct Growth 5 year CAGR | 12.3% | 82nd | The Adjusted EBIT compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (EBITDA)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| EBITDA Pct Growth | 31.8% | 85th | The EBITDA growth rate over the trailing twelve months (TTM) |
| EBITDA Pct Growth 3 year CAGR | 32.2% | 29th | The EBITDA compound annual growth rate (CAGR) over the past 3 years |
| EBITDA Pct Growth 5 year CAGR | 71.8% | 47th | The EBITDA compound annual growth rate (CAGR) over the past 5 years |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Free Cashflow Margin Pct | 12.6% | 71st | Calculated as the ratio of Free Cashflow from Operating Activities / Net Sales. It measures how much per dollar of revenue the company is able to convert into free cash flow. |
| Gross Margin Pct | 42.6% | 54th | Calculated as the ratio of Revenue - Cost of Goods Sold (COGS) / Revenue. The gross margin represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold by a company. |
| Operating Margin Pct | 17.7% | 77th | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| Operating Profit Pct Growth | 61.8% | 78th | The Operating Profit growth rate over the trailing twelve months (TTM) |
| Operating Profit Pct Growth 3 year CAGR (FY) | 10.0% | 60th | The Operating Profit compound annual growth rate (CAGR) over the past 3 years |
| Operating Profit Pct Growth 5 year CAGR (FY) | 12.3% | 70th | The Operating Profit compound annual growth rate (CAGR) over the past 5 years |
| PreTax Margin Pct | 14.7% | 71st | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | 5.4% | 81st | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 14.2% | 77th | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 7.9% | 66th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| FCF Pct Growth | 1.2% | 44th | The Free Cash Flow growth rate over the trailing twelve months (TTM) |
| FCF Pct Growth 3 year CAGR | 5.6% | 45th | The Free Cash Flow compound annual growth rate (CAGR) over the past 3 years |
| FCF Pct Growth 5 year CAGR | 49.3% | 56th | The Free Cash Flow compound annual growth rate (CAGR) over the past 5 years |
| FCF Return on Assets Pct | 5.9% | 72nd | Calculated as the ratio of Cashflow from Operations / Total Assets. A high cash return on assets means a company is generating more cash flow from every asset dollar |
| Operating Cashflow Pct Growth | 4.2% | 48th | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | 6.5% | 53rd | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | 11.1% | 69th | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 82.2% | 79th | The Net Income growth rate over the trailing twelve months (TTM) |
| Net Income Pct Growth 3 year CAGR | 10.9% | 63rd | The Net Income compound annual growth rate (CAGR) over the past 3 years |
| Net Income Pct Growth 5 year CAGR | 14.2% | 73rd | The Net Income compound annual growth rate (CAGR) over the past 5 years |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 6.3% | 51st | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | 8.2% | 60th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | 10.9% | 63rd | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | 22.3% | 74th | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open WCN in FundSpec.
Insider activity
In the last 90 days insiders filed 3 transactions. Acquisitions include awards and option exercises as well as open market purchases. The largest by value was a disposal of 2,500 shares by Philip Rivard, SR VP Business Development on 18 August 2026, worth about $416,425 at the transaction price.
| Date | Insider | Title | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 19 Aug 2026 | Iii Robert Nielsen | SR VP Operations | S | 700 | $170.00 | $119K |
| 18 Aug 2026 | Philip Rivard | SR VP Business Development | S | 2,500 | $166.57 | $416K |
| 13 Aug 2026 | Susan Netherton | SR VP People, Training & Dev | S | 1,750 | $166.00 | $290K |
| 29 Jul 2026 | Iii Robert Nielsen | SR VP Operations | S | 300 | $173.10 | $52K |
| 28 Jul 2026 | Robert Michael Cloninger | SR VP, Deputy General Counsel | S | 2,573 | $171.00 | $440K |
| 28 Jul 2026 | Robert Michael Cloninger | SR VP, Deputy General Counsel | S | 238 | $171.33 | $41K |
| 30 Jun 2026 | Domenic Pio | SR VP Operations | J | 95 | $158.36 | $15K |
| 30 Jun 2026 | Jason Craft | Executive Vice President & COO | J | 54 | $158.36 | $9K |
| 30 Jun 2026 | Aaron Bradley | SR VP PERFORMANCE OPTIMIZATION | J | 42 | $158.36 | $7K |
| 30 Jun 2026 | Matthew Stephen Black | Sr VP Chief Tax Officer | J | 16 | $158.36 | $3K |
| 9 Jun 2026 | Patrick James Shea | Exec VP, General Counsel & Sec | G | 100 | ||
| 8 Jun 2026 | Patrick James Shea | Exec VP, General Counsel & Sec | G | 15 | ||
| 5 Jun 2026 | Patrick James Shea | Exec VP, General Counsel & Sec | S | 7,500 | $156.26 | $1.2M |
| 5 Jun 2026 | Jason Craft | Executive Vice President & COO | S | 1,500 | $156.59 | $235K |
| 14 May 2026 | Iii Robert Nielsen | SR VP Operations | S | 500 | $155.56 | $78K |
Insider filings record what officers and directors did with their own shares. Disposals are often planned sales or tax related, so a pattern across several insiders says more than one filing.
SEC filings
The latest filing is a 10-Q from 22 October 2026.
| Filed | Form | Document |
|---|---|---|
| 22 Oct 2026 | 10-Q | View on sec.gov |
| 23 Jul 2026 | 10-Q | View on sec.gov |
| 23 Apr 2026 | 10-Q | View on sec.gov |
| 12 Feb 2026 | 10-K | View on sec.gov |
| 22 Oct 2025 | 10-Q | View on sec.gov |
| 24 Jul 2025 | 10-Q | View on sec.gov |
| 24 Apr 2025 | 10-Q | View on sec.gov |
| 13 Feb 2025 | 10-K | View on sec.gov |
| 24 Oct 2024 | 10-Q | View on sec.gov |
| 25 Jul 2024 | 10-Q | View on sec.gov |
Company profile
- Exchange
- NYSE
- Sector
- Utilities
- Industry
- Business Services
- Headquarters
- The Woodlands, Ontario, Canada
- Chief executive
- Worthing F. Jackman
- Employees
- 22,100
- Website
- wasteconnections.com
- SEC CIK
- 0001318220
Waste Connections, Inc. provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. 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. As of December 31, 2021, it owned 334 solid waste collection operations.
Sector and peers
Waste Connections, Inc. is part of the Utilities sector, which FundSpec tracks across 125 companies.
Companies in the same industry by market capitalization:
WM Waste Management Inc.RSG Republic Services, Inc.
Put two of them side by side in Compare.
In FundSpec: the fair value estimate, the momentum reading, relative valuation against sector and industry peers, unusual options activity and AI model signals for WCN are available to subscribers, with the same screen in the iOS and Android apps.
Open WCN in FundSpec