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Company Analysis

Waste Connections, Inc. WCN

A comprehensive view of key metrics, scores, and financial health for Waste Connections, Inc.

Overview of Waste Connections, Inc.

WCN NYQ
Industrials Waste Management Framework: General Corporate Large Cap
Waste Connections, Inc. (WCN), is a Large Cap company, in the Waste Management industry, last closed at $188.17, about 65.7% overvalued vs fair value, +13.8% 1Y return, placing in the top 10% of its sector.
Metrics P/E 42.0× Rev Growth 6.1% ROE 13.4% Gross Margin 42.4% Div Yield 0.74%
USD 188.17
2.22%
(Delayed)
• Vol 90d: 26.2%
52-Week Range
Market Cap
$47.08B
Enterprise Value
$56.41B
Overall Score
View breakdown
Overall
Growth
Fair
Profitability
Good
Health
Fair
Efficiency
Good
Valuation
Good
Growth
Fair
Profitability
Good
Health
Fair
Efficiency
Good
Valuation
Good
Completeness: 100%
Confidence: 96%
Updated: Oct 31
Top Beats
No strong beats yet

Quick Facts

Website https://www.wasteconnections.c...
HQ Woodbridge, ON
Employees 24,214
Fiscal year Dec 31

Next Events

Dividend Nov 19

Fair Value Snapshot

Bear Base Bull
$57
$65
$72
Current: $188.17 -66% vs base

Engine Room Money Flow™

Large Cap

Corporate Free Cash Flow - Where revenue goes and how value is created

Flow Steps
Revenue
$9.5B
6.1%%
Gross Profit
$4.0B
7.6%%
Operating Income
$1.7B
60.2%%
Net Income
$1.1B
74.3%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Corporate Free Cash Flow

Quality & Reliability Indicators

Cash Conversion Ratio FY2025
113.3%
Excellent

Operating Cash Flow / Net Income

FCF / Net Income - measures how well earnings convert to cash

Locked Metric
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$839.3M
68.8% of FCF

Where It Leaks

Cash Flow Health some concerns
Moderate efficiency issues detected. Review active leaks below for improvement areas.
4
Active Leaks
0/4
Improving
0
High Impact
0
Critical
Locked Leak
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Locked Leak
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Moat Analysis Corporate Default

Competitive Advantage Assessment

Evaluating Waste Connections, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
79
/100
Strong
Scores based on quantitative metrics and qualitative factors
Full moat analysis

Key strengths

  • ROIC Sustainably Above Peers ROIC at 81.2th percentile exceeds peers and WACC, demonstrating superior capital allocation.
  • Margins Consistently Above Peers Gross margin at 42.4% (top 12%) and operating margin at 18.1% (top 6%) indicate strong pricing power.

Key risks

  • Liquidity Concerns Liquidity is concerning (score 0.25), raising questions about short-term obligations.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

vs Industry Peers 100% Coverage
Trade-Off Triangle Visualization A ternary plot showing WCN's balance between Growth (36.4%), Profitability (43.3%), and Safety (20.2%). Growth 36% Safety 20% Profitability 43%

Click axes to expand details. Marker shows current allocation.

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Growth

65th percentile vs peers
65
Key Signals
Revenue CAGR 3Y 9.5% 70p Rev Growth YoY 6.1% 58p EPS Growth YoY 74.8% 80p EPS CAGR 3Y 8.8% 61p TSR 3.0% 52p
Strengths
  • EPS Growth YoY in top 20% of peers (74.8%, 80th percentile)
  • Superior capital returns - 3 return metrics above peer median
  • Growth above peer median with strong metric coverage (100%)
  • Operating Margin in top 20% of peers (18.1%, 86th percentile)
Risks

No significant risks identified for this axis.

Profitability

77th percentile vs peers
78
Key Signals
Strengths
Risks
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Safety

36th percentile vs peers
36
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for Waste Connections, Inc..

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$64.51
- - -
-65.7% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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