WASTE CONNECTIONS INC (WCN) Fundamental Analysis & Valuation

NYSE:WCN • CA94106B1013

Current stock price

166.07 USD
-2.82 (-1.67%)
At close:
166.07 USD
0 (0%)
After Hours:

This WCN fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. WCN Profitability Analysis

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.
  • Each year in the past 5 years WCN had a positive operating cash flow.
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 2025 500M 1B 1.5B 2B

1.2 Ratios

  • WCN has a better Return On Assets (4.98%) than 76.25% of its industry peers.
  • WCN has a better Return On Equity (13.09%) than 75.00% of its industry peers.
  • WCN has a better Return On Invested Capital (7.69%) than 72.50% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for WCN is below the industry average of 9.48%.
  • The last Return On Invested Capital (7.69%) for WCN is above the 3 year average (7.41%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.98%
ROE 13.09%
ROIC 7.69%
ROA(3y)4.16%
ROA(5y)4.31%
ROE(3y)10.28%
ROE(5y)10.29%
ROIC(3y)7.41%
ROIC(5y)7%
WCN Yearly ROA, ROE, ROICWCN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • WCN's Profit Margin of 10.97% is amongst the best of the industry. WCN outperforms 87.50% of its industry peers.
  • In the last couple of years the Profit Margin of WCN has grown nicely.
  • The Operating Margin of WCN (19.58%) is better than 93.75% of its industry peers.
  • In the last couple of years the Operating Margin of WCN has grown nicely.
  • With a decent Gross Margin value of 42.50%, WCN is doing good in the industry, outperforming 71.25% of the companies in the same industry.
  • WCN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 19.58%
PM (TTM) 10.97%
GM 42.5%
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%
WCN Yearly Profit, Operating, Gross MarginsWCN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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3

2. WCN Health Analysis

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 less shares outstanding
  • Compared to 5 years ago, WCN has less shares outstanding
  • WCN has a worse debt/assets ratio than last year.
WCN Yearly Shares OutstandingWCN Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 3.00 indicates that WCN is not in any danger for bankruptcy at the moment.
  • WCN has a Altman-Z score of 3.00. This is in the better half of the industry: WCN outperforms 71.25% of its industry peers.
  • The Debt to FCF ratio of WCN is 7.99, which is on the high side as it means it would take WCN, 7.99 years of fcf income to pay off all of its debts.
  • WCN has a better Debt to FCF ratio (7.99) than 66.25% of its industry peers.
  • WCN has a Debt/Equity ratio of 1.13. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 1.13, WCN is doing worse than 70.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 7.99
Altman-Z 3
ROIC/WACC0.91
WACC8.46%
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 2025 2B 4B 6B 8B

2.3 Liquidity

  • A Current Ratio of 0.69 indicates that WCN may have some problems paying its short term obligations.
  • WCN has a worse Current ratio (0.69) than 81.25% of its industry peers.
  • A Quick Ratio of 0.69 indicates that WCN may have some problems paying its short term obligations.
  • WCN has a Quick ratio of 0.69. This is in the lower half of the industry: WCN underperforms 77.50% of its industry peers.
Industry RankSector Rank
Current Ratio 0.69
Quick Ratio 0.69
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 2025 500M 1B 1.5B 2B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. WCN Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 7.58% over the past year.
  • The Earnings Per Share has been growing by 14.21% on average over the past years. This is quite good.
  • WCN shows a small growth in Revenue. In the last year, the Revenue has grown by 5.89%.
  • The Revenue has been growing by 11.69% on average over the past years. This is quite good.
EPS 1Y (TTM)7.58%
EPS 3Y10.57%
EPS 5Y14.21%
EPS Q2Q%8.85%
Revenue 1Y (TTM)5.89%
Revenue growth 3Y9.49%
Revenue growth 5Y11.69%
Sales Q2Q%6.39%

3.2 Future

  • The Earnings Per Share is expected to grow by 10.60% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 5.99% on average over the next years.
EPS Next Y6.88%
EPS Next 2Y10.67%
EPS Next 3Y11.45%
EPS Next 5Y10.6%
Revenue Next Year5.17%
Revenue Next 2Y5.67%
Revenue Next 3Y6.04%
Revenue Next 5Y5.99%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
WCN Yearly Revenue VS EstimatesWCN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 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 8

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3

4. WCN Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 31.63, WCN can be considered very expensive at the moment.
  • Based on the Price/Earnings ratio, WCN is valued a bit cheaper than 61.25% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.42, WCN is valued at the same level.
  • WCN is valuated quite expensively with a Price/Forward Earnings ratio of 26.33.
  • 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.
  • WCN's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.29.
Industry RankSector Rank
PE 31.63
Fwd PE 26.33
WCN Price Earnings VS Forward Price EarningsWCN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as WCN.
  • WCN's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 37.14
EV/EBITDA 16.35
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 WCN does not grow enough to justify the current Price/Earnings ratio.
  • WCN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)4.6
PEG (5Y)2.23
EPS Next 2Y10.67%
EPS Next 3Y11.45%

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

5

5. WCN Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.80%, WCN is not a good candidate for dividend investing.
  • WCN's Dividend Yield is a higher than the industry average which is at 0.86.
  • Compared to an average S&P500 Dividend Yield of 1.81, WCN's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.8%

5.2 History

  • The dividend of WCN is nicely growing with an annual growth rate of 11.37%!
  • 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 Years4
Div Non Decr Years4
WCN Yearly Dividends per shareWCN Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 32.35% of the earnings are spent on dividend by WCN. This is a low number and sustainable payout ratio.
  • The dividend of WCN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP32.35%
EPS Next 2Y10.67%
EPS Next 3Y11.45%
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 2025 200M 400M 600M 800M 1B
WCN Dividend Payout.WCN Dividend Payout, showing the Payout Ratio.WCN Dividend Payout.PayoutRetained Earnings

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WCN Fundamentals: All Metrics, Ratios and Statistics

WASTE CONNECTIONS INC

NYSE:WCN (4/24/2026, 8:14:10 PM)

After market: 166.07 0 (0%)

166.07

-2.82 (-1.67%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)04-22
Earnings (Next)07-21
Inst Owners90.16%
Inst Owner Change-0.39%
Ins Owners0.12%
Ins Owner Change4.92%
Market Cap42.32B
Revenue(TTM)9.61B
Net Income(TTM)1.05B
Analysts83
Price Target202.21 (21.76%)
Short Float %0.83%
Short Ratio1.32
Dividend
Industry RankSector Rank
Dividend Yield 0.8%
Yearly Dividend1.3
Dividend Growth(5Y)11.37%
DP32.35%
Div Incr Years4
Div Non Decr Years4
Ex-Date02-25
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.23%
Min EPS beat(2)-0.31%
Max EPS beat(2)2.78%
EPS beat(4)3
Avg EPS beat(4)1.9%
Min EPS beat(4)-0.31%
Max EPS beat(4)3.11%
EPS beat(8)6
Avg EPS beat(8)1.46%
EPS beat(12)9
Avg EPS beat(12)1.39%
EPS beat(16)12
Avg EPS beat(16)1.67%
Revenue beat(2)0
Avg Revenue beat(2)-0.5%
Min Revenue beat(2)-0.82%
Max Revenue beat(2)-0.18%
Revenue beat(4)0
Avg Revenue beat(4)-0.51%
Min Revenue beat(4)-0.82%
Max Revenue beat(4)-0.18%
Revenue beat(8)2
Avg Revenue beat(8)-0.23%
Revenue beat(12)2
Avg Revenue beat(12)-0.33%
Revenue beat(16)4
Avg Revenue beat(16)-0.3%
PT rev (1m)35.32%
PT rev (3m)36.61%
EPS NQ rev (1m)0.28%
EPS NQ rev (3m)-3.54%
EPS NY rev (1m)0.29%
EPS NY rev (3m)-4.24%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.7%
Revenue NY rev (1m)-0.03%
Revenue NY rev (3m)-0.6%
Valuation
Industry RankSector Rank
PE 31.63
Fwd PE 26.33
P/S 4.4
P/FCF 37.14
P/OCF 17.5
P/B 5.25
P/tB N/A
EV/EBITDA 16.35
EPS(TTM)5.25
EY3.16%
EPS(NY)6.31
Fwd EY3.8%
FCF(TTM)4.47
FCFY2.69%
OCF(TTM)9.49
OCFY5.71%
SpS37.71
BVpS31.62
TBVpS-9.09
PEG (NY)4.6
PEG (5Y)2.23
Graham Number61.1128 (-63.2%)
Profitability
Industry RankSector Rank
ROA 4.98%
ROE 13.09%
ROCE 9.81%
ROIC 7.69%
ROICexc 7.73%
ROICexgc 16.96%
OM 19.58%
PM (TTM) 10.97%
GM 42.5%
FCFM 11.86%
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-Score7
Asset Turnover0.45
Health
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 7.99
Debt/EBITDA 2.9
Cap/Depr 101.72%
Cap/Sales 13.3%
Interest Coverage 250
Cash Conversion 77.05%
Profit Quality 108.08%
Current Ratio 0.69
Quick Ratio 0.69
Altman-Z 3
F-Score7
WACC8.46%
ROIC/WACC0.91
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)7.58%
EPS 3Y10.57%
EPS 5Y14.21%
EPS Q2Q%8.85%
EPS Next Y6.88%
EPS Next 2Y10.67%
EPS Next 3Y11.45%
EPS Next 5Y10.6%
Revenue 1Y (TTM)5.89%
Revenue growth 3Y9.49%
Revenue growth 5Y11.69%
Sales Q2Q%6.39%
Revenue Next Year5.17%
Revenue Next 2Y5.67%
Revenue Next 3Y6.04%
Revenue Next 5Y5.99%
EBIT growth 1Y8.23%
EBIT growth 3Y12.78%
EBIT growth 5Y15.71%
EBIT Next Year80.5%
EBIT Next 3Y28.36%
EBIT Next 5Y19.2%
FCF growth 1Y-8.58%
FCF growth 3Y3.2%
FCF growth 5Y10.39%
OCF growth 1Y11.19%
OCF growth 3Y6.08%
OCF growth 5Y11.38%

WASTE CONNECTIONS INC / WCN Fundamental Analysis 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.


How profitable is WASTE CONNECTIONS INC (WCN) stock?

WASTE CONNECTIONS INC (WCN) has a profitability rating of 8 / 10.


How financially healthy is WASTE CONNECTIONS INC?

The financial health rating of WASTE CONNECTIONS INC (WCN) is 3 / 10.


How sustainable is the dividend of WASTE CONNECTIONS INC (WCN) stock?

The dividend rating of WASTE CONNECTIONS INC (WCN) is 5 / 10 and the dividend payout ratio is 32.35%.