Stock Analysis
Waste Connections, Inc.WCN
P/E 39.83×· 5Y range 35.82–82.30×· bottom 8% of history
Sector: Industrials · Industry: Refuse Systems
AnalystsStrong Buy20 analystsP/E 39.8× sits at the 8th percentile of its 5.086926762491444-year history.
Cash covers 1% of debt · Q2 2026.
PMP Verdict
Strong business, attractive price
Strengths
- Quality97
- Growth85
Risks
- Financial Health33
High-quality business at an attractive price.
Bull Case
- ✓Piotroski F-Score 7/9 — high earnings quality
- ✓Revenue CAGR 11.4% — durable top-line growth
- ✓P/E 39.8× at bottom 8% of 5-year history
What's happening with WCN
Profile
Strong earnings quality and growth; financial health lags behind.
How is each axis scored?
- Valuation55/100 · Moderate
- P/E vs own history (8th pct)25/25
- FCF yield (2.9%)5/25
- P/S (4.3x)20/25
- EV/EBIT (28.6x)5/25
- Growth85/100 · Strong
- Revenue CAGR (11.4%)20/25
- Net income CAGR (14.9%)20/25
- EPS CAGR 5Y (15.3%)20/25
- Fwd implied growth (55.4%)25/25
- Profitability64/100 · Moderate
- ROIC (8.2%)12/25
- ROE (13.4%)12/25
- Net margin (10.9%)20/25
- Operating margin (18.5%)20/25
- Financial Health33/100 · Weak
- Altman Z (2.58)18/25
- Current ratio (0.66)0/25
- Interest coverage (4.7x)10/25
- Net cash / debt (D/A 45%)5/25
- Quality97/100 · Strong
- Piotroski F (7/9)22/25
- Beneish M (-2.70)25/25
- FCF conversion (116%)25/25
- Margin stability (σ 4.5%)25/25
- Moat50/100 · Moderate
- ROIC >12% years (0/10 yrs)0/25
- Median gross margin (41.2%)13/25
- FCF-positive years (10/10 yrs)25/25
- Worst-year net margin (worst 3.8%)12/25
About Waste Connections, Inc.
Waste Connections is a North American waste management company focused on integrated waste collection services. Show more
The firm primarily focuses on residential, commercial, municipal, and industrial waste collection, with a secondary market focus on rural areas. With 113 landfills and 222 transfer stations as of 2024, it is the third-largest waste management company by revenue. Revenue is split among six operating segments: Western, Southern, Eastern, Central, Canada, and Midsouth.
Headquarters: WOODBRIDGE, A6 · Employees: 24,214 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
55CP/E (TTM)39.8xD
Grade D: ExpensivePrice / TTM EPS (own statements) — vs own 5Y history: 35.8x–82.3x · 8th pct
P/FCF33.4xC
Grade C: ExpensivePrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative · Elevated investment — CapEx = 51% of operating cash flow, weighing on reported FCF
FCF Yield2.9%C
Grade C: LowTTM (OCF − CapEx) / Market Cap — vs own 5Y history: 2.3%–3.6% · 64th pct · Elevated investment — CapEx = 51% of operating cash flow, weighing on reported FCF
P/S (TTM)4.33xB
Grade B: FairPrice / TTM Revenue (own statements) — vs own 5Y history: 3.9x–6.2x · 9th pct
EV/EBIT28.6xD
Grade D: ExpensiveEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 26.3x–55.0x · 5th pct
EV/Sales4.9xB
Grade B: FairEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E25.6xC
Grade C: ExpensivePrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio5.33xC
Grade C: ExpensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio3.55D
Grade D: ExpensiveFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield0.89%A
Grade A: PaysTTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio32.8%A
Grade A: SafeDividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Elevated investment: Elevated investment — CapEx = 51% of operating cash flow, weighing on reported FCF
Profitability
64BROIC8.2%C
Grade C: AverageNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE13.4%C
Grade C: AverageReturn on Equity. Neg. equity = heavy buybacks
ROA5.0%C
Grade C: AverageReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin10.9%A
Grade A: HighNet Income / Revenue
Operating Margin18.5%C
Grade C: AverageTTM EBIT / TTM Revenue
Gross Margin42.5%C
Grade C: AverageGross Profit / Revenue
FCF Margin12.6%C
Grade C: AverageFCF / Revenue · Elevated investment — CapEx = 51% of operating cash flow, weighing on reported FCF
True FCF Margin11.8%C
Grade C: AverageTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost · Elevated investment — CapEx = 51% of operating cash flow, weighing on reported FCF
Growth
85ARevenue CAGR11.4%C
Grade C: OkCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR14.9%C
Grade C: OkCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)15.3%A
Grade A: HighCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth55.4%A
Grade A: HighAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)-4.1%A
Grade A: BuybacksShare count change over 5Y
SBC / Net Income7.5%A
Grade A: LowStock-based comp/Net income. >30% = dilution risk
SBC / Revenue0.8%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
33DAltman Z-Score2.58C
Grade C: Gray zoneBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio0.66xD
Grade D: LowCurrent Assets/Liabilities
Quick Ratio0.55xC
Grade C: Ok(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage4.7xC
Grade C: OkEBIT/Interest. >10 Strong
Debt Repayment7.7yC
Grade C: AverageYears to repay net debt via FCF · Elevated investment — CapEx = 51% of operating cash flow, weighing on reported FCF
Net Debt/EBIT5.3xD
Grade D: HighLeverage. <2x Low, >4x High
Debt/Equity1.22xC
Grade C: MedDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt0.01xD
Grade D: ThinCash covers how much of total debt. >1 = could repay all debt from cash
Quality
97A+Piotroski F-Score7/9A
Grade A: StrongFinancial strength 0–9. >7 Strong
Beneish M-Score-2.70A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion116.2%A
Grade A: StrongFCF / Net Income · Elevated investment — CapEx = 51% of operating cash flow, weighing on reported FCF
Margin Stability4.5%A
Grade A: StableEBIT margin std deviation. Lower = stable
Capex / Revenue13.1%C
Grade C: AverageTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.46xD
Grade D: LowRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
NIELSEN III ROBERT Filed | NIELSEN III ROBERT | SellOpen market sale | -700 | |
RIVARD PHILIP Filed | RIVARD PHILIP | SellOpen market sale | -2500 | |
Netherton Susan Filed | Netherton Susan | SellOpen market sale | -1750 | |
NIELSEN III ROBERT Filed | NIELSEN III ROBERT | SellOpen market sale | -300 | |
Cloninger Robert Michael Filed | Cloninger Robert Michael | SellOpen market sale | -238 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Cloninger Robert Michael Filed | Cloninger Robert Michael | SellOpen market sale | -2573 | |
BRADLEY AARON Filed | BRADLEY AARON | BuyJ | +42 | |
CRAFT JASON Filed | CRAFT JASON | BuyJ | +54 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
50CROIC >12% Years0/10 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)41.2%C
Grade C: ModerateMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years10/10 yrsA
Grade A: DurableShare of completed fiscal years with positive free cash flow
Net Margin Floor3.8%C
Grade C: ModerateWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$4.22
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$0.39
Cash & short-term investments per share (Finnhub)
Book Value / Share$31.41
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$9.64B
Total debt obligations (short + long term)
Cash & Equiv.$100.52M
Cash and short-term investments
Net Debt$9.54B
Total Debt minus Cash. Negative = Net Cash position
Total Equity$7.92B
Shareholders' equity (book value)
Asset / Liability1.59xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$42.24B
Current Market Capitalization
Beta0.23B
Grade B: DefensivePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 17, 2026
Key Insights: Waste Connections, Inc. (WCN)
WCN is up 1.44% at the last close. Waste Connections, Inc. meets 7 of 9 Piotroski F-Score criteria, placing its fundamental strength in the top tier of US-listed stocks. Altman Z-Score of 2.58 falls in the grey zone (1.81–2.99) — financial distress is unlikely but not ruled out.
- Beneish M-Score of -2.70 suggests a low likelihood of earnings manipulation.
- Takes ~7.7 years to repay net debt from free cash flow.
See how WCN ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all WCN moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 15 | Regular | 165.00 | +5.22% | 5.35 |
| Oct 15 | After-hours | 165.51 | +5.54% | 5.68 |
| Oct 14 | Regular | 156.12 | +1.59% | 2.01 |
| Oct 14 | After-hours | 156.82 | +2.05% | 2.55 |
| Oct 2 | Regular | 154.43 | +2.50% | 3.85 |
Frequently Asked Questions about WCN
What is the current Waste Connections, Inc. (WCN) stock price?
WCN is trading at $167.90 at the last market close, up 1.44% on the session. PreMarketPrice tracks WCN pre-market, intraday and after-hours prices.
Is WCN stock a buy right now?
PreMarketPrice's quantitative model rates Waste Connections, Inc.'s financial health at 33/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is WCN stock overvalued?
Waste Connections, Inc. trades at a trailing P/E of 39.8 and our valuation score rates it 55/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Waste Connections, Inc. report earnings?
No confirmed earnings date is currently scheduled for WCN. The Earnings section lists recent reports and updates as dates are announced.
What sector does Waste Connections, Inc. operate in?
Waste Connections, Inc. operates in the Industrials sector, within the Refuse Systems industry. The Related Stocks section lists sector peers for comparison.
What does Waste Connections, Inc. do?
Waste Connections is a North American waste management company focused on integrated waste collection services.
About Waste Connections, Inc. (WCN) Stock
Waste Connections, Inc. (WCN) is a US-listed stock operating in the Industrials sector, specifically the Refuse Systems industry. As of the latest update, Waste Connections, Inc. is trading at $167.90, up 1.44% on the day with a market capitalization of $42.2 billion. The financial health score for WCN is 33/100, which indicates weak financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for WCN stock.
WCN Stock Analysis & Key Metrics
On PreMarketPrice, you can track Waste Connections, Inc. (WCN) across multiple dimensions:
- Pre-market price & movement: Real-time WCN stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for WCN with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Waste Connections, Inc. across multiple reporting periods.
- Financial health score: A composite score of 33/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for WCN.
- Sector peers: Compare WCN against 5 other industrials stocks on key financial metrics.
Is WCN a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Waste Connections, Inc. (WCN) as an investment. The financial health score of 33/100 suggests weak financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Waste Connections, Inc. (WCN) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.