(WCN) Waste Connections - Ratings and Ratios
Exchange: NYSE •
Country: Canada •
Currency: USD •
Type: Common Stock •
ISIN: CA94106B1013
Collection, Disposal, Recycling, Transfer, Treatment
Dividends
| Dividend Yield | 0.75% |
| Yield on Cost 5y | 1.33% |
| Yield CAGR 5y | 11.39% |
| Payout Consistency | 91.3% |
| Payout Ratio | 25.8% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 17.2% |
| Value at Risk 5%th | 26.4% |
| Relative Tail Risk | -6.81% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.45 |
| Alpha | -13.18 |
| CAGR/Max DD | 0.52 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.317 |
| Beta | 0.249 |
| Beta Downside | 0.262 |
| Drawdowns 3y | |
|---|---|
| Max DD | 16.88% |
| Mean DD | 4.44% |
| Median DD | 3.47% |
Description: WCN Waste Connections December 03, 2025
Waste Connections, Inc. (WCN) is a North-American provider of non-hazardous waste collection, transfer, disposal, and resource-recovery services. It serves residential, commercial, municipal, industrial, and oil-and-gas (E&P) customers with landfill disposal, recycling (compost, cardboard, mixed paper, plastics, glass, ferrous and aluminum), and intermodal transport solutions, and also offers waste-treatment leasing services.
Key operating metrics that analysts watch include FY 2023 revenue of roughly $5.5 billion and an adjusted EBITDA margin near 20%, reflecting strong pricing power in a market constrained by limited landfill capacity. The company’s growth is tied to macro drivers such as U.S. population growth, stricter state recycling mandates, and steady demand for E&P waste services driven by continued upstream oil-and-gas activity. Additionally, WCN’s intermodal rail network in the Pacific Northwest provides a cost-advantageous alternative to truck haulage, enhancing its margin resilience.
For a deeper, data-driven look at WCN’s valuation and risk profile, you might explore the analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (626.8m TTM) > 0 and > 6% of Revenue (6% = 638.6m TTM) |
| FCFTA 0.10 (>2.0%) and ΔFCFTA 3.60pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -6.43% (prev -4.59%; Δ -1.84pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.12 (>3.0%) and CFO 2.43b > Net Income 626.8m (YES >=105%, WARN >=100%) |
| Net Debt (8.83b) to EBITDA (2.68b) ratio: 3.29 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.67 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (257.6m) change vs 12m ago -0.45% (target <= -2.0% for YES) |
| Gross Margin 30.80% (prev 41.78%; Δ -10.97pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 52.07% (prev 43.27%; Δ 8.81pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.50 (EBITDA TTM 2.68b / Interest Expense TTM 640.0m) >= 6 (WARN >= 3) |
Altman Z'' 1.74
| (A) -0.03 = (Total Current Assets 1.40b - Total Current Liabilities 2.09b) / Total Assets 20.78b |
| (B) 0.24 = Retained Earnings (Balance) 5.03b / Total Assets 20.78b |
| (C) 0.08 = EBIT TTM 1.60b / Avg Total Assets 20.44b |
| (D) 0.61 = Book Value of Equity 7.74b / Total Liabilities 12.69b |
| Total Rating: 1.74 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 69.24
| 1. Piotroski 5.0pt |
| 2. FCF Yield 3.74% |
| 3. FCF Margin 19.07% |
| 4. Debt/Equity 1.10 |
| 5. Debt/Ebitda 3.29 |
| 6. ROIC - WACC (= 1.06)% |
| 7. RoE 7.76% |
| 8. Rev. Trend 87.68% |
| 9. EPS Trend 85.16% |
What is the price of WCN shares?
As of December 14, 2025, the stock is trading at USD 172.63 with a total of 635,958 shares traded.
Over the past week, the price has changed by -0.28%, over one month by +2.28%, over three months by -1.75% and over the past year by -5.64%.
Over the past week, the price has changed by -0.28%, over one month by +2.28%, over three months by -1.75% and over the past year by -5.64%.
Is WCN a buy, sell or hold?
Waste Connections has received a consensus analysts rating of 3.96.
Therefore, it is recommended to buy WCN.
- Strong Buy: 11
- Buy: 6
- Hold: 6
- Sell: 0
- Strong Sell: 2
What are the forecasts/targets for the WCN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 205 | 18.7% |
| Analysts Target Price | 205 | 18.7% |
| ValueRay Target Price | 184.4 | 6.8% |
WCN Fundamental Data Overview December 02, 2025
Market Cap USD = 45.39b (45.39b USD * 1.0 USD.USD)
P/E Trailing = 73.5625
P/E Forward = 21.978
P/S = 4.8529
P/B = 5.5849
P/EG = 1.2379
Beta = 0.617
Revenue TTM = 10.64b USD
EBIT TTM = 1.60b USD
EBITDA TTM = 2.68b USD
Long Term Debt = 8.62b USD (from longTermDebt, last quarter)
Short Term Debt = 8.82m USD (from shortTermDebt, last quarter)
Debt = 8.94b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 8.83b USD (from netDebt column, last quarter)
Enterprise Value = 54.22b USD (45.39b + Debt 8.94b - CCE 117.6m)
Interest Coverage Ratio = 2.50 (Ebit TTM 1.60b / Interest Expense TTM 640.0m)
FCF Yield = 3.74% (FCF TTM 2.03b / Enterprise Value 54.22b)
FCF Margin = 19.07% (FCF TTM 2.03b / Revenue TTM 10.64b)
Net Margin = 5.89% (Net Income TTM 626.8m / Revenue TTM 10.64b)
Gross Margin = 30.80% ((Revenue TTM 10.64b - Cost of Revenue TTM 7.36b) / Revenue TTM)
Gross Margin QoQ = 18.56% (prev 29.35%)
Tobins Q-Ratio = 2.61 (Enterprise Value 54.22b / Total Assets 20.78b)
Interest Expense / Debt = 4.54% (Interest Expense 406.0m / Debt 8.94b)
Taxrate = 23.62% (88.5m / 374.8m)
NOPAT = 1.22b (EBIT 1.60b * (1 - 23.62%))
Current Ratio = 0.67 (Total Current Assets 1.40b / Total Current Liabilities 2.09b)
Debt / Equity = 1.10 (Debt 8.94b / totalStockholderEquity, last quarter 8.09b)
Debt / EBITDA = 3.29 (Net Debt 8.83b / EBITDA 2.68b)
Debt / FCF = 4.35 (Net Debt 8.83b / FCF TTM 2.03b)
Total Stockholder Equity = 8.08b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.02% (Net Income 626.8m / Total Assets 20.78b)
RoE = 7.76% (Net Income TTM 626.8m / Total Stockholder Equity 8.08b)
RoCE = 9.56% (EBIT 1.60b / Capital Employed (Equity 8.08b + L.T.Debt 8.62b))
RoIC = 7.42% (NOPAT 1.22b / Invested Capital 16.44b)
WACC = 6.36% (E(45.39b)/V(54.34b) * Re(6.93%) + D(8.94b)/V(54.34b) * Rd(4.54%) * (1-Tc(0.24)))
Discount Rate = 6.93% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -0.14%
[DCF Debug] Terminal Value 79.81% ; FCFE base≈1.71b ; Y1≈1.91b ; Y5≈2.53b
Fair Price DCF = 171.4 (DCF Value 43.87b / Shares Outstanding 256.0m; 5y FCF grow 13.45% → 3.0% )
EPS Correlation: 85.16 | EPS CAGR: 15.83% | SUE: 2.00 | # QB: 3
Revenue Correlation: 87.68 | Revenue CAGR: 24.62% | SUE: 4.0 | # QB: 2
EPS next Quarter (2026-03-31): EPS=1.25 | Chg30d=+0.007 | Revisions Net=-1 | Analysts=14
EPS next Year (2026-12-31): EPS=5.67 | Chg30d=-0.012 | Revisions Net=-14 | Growth EPS=+10.4% | Growth Revenue=+5.6%
P/E Trailing = 73.5625
P/E Forward = 21.978
P/S = 4.8529
P/B = 5.5849
P/EG = 1.2379
Beta = 0.617
Revenue TTM = 10.64b USD
EBIT TTM = 1.60b USD
EBITDA TTM = 2.68b USD
Long Term Debt = 8.62b USD (from longTermDebt, last quarter)
Short Term Debt = 8.82m USD (from shortTermDebt, last quarter)
Debt = 8.94b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 8.83b USD (from netDebt column, last quarter)
Enterprise Value = 54.22b USD (45.39b + Debt 8.94b - CCE 117.6m)
Interest Coverage Ratio = 2.50 (Ebit TTM 1.60b / Interest Expense TTM 640.0m)
FCF Yield = 3.74% (FCF TTM 2.03b / Enterprise Value 54.22b)
FCF Margin = 19.07% (FCF TTM 2.03b / Revenue TTM 10.64b)
Net Margin = 5.89% (Net Income TTM 626.8m / Revenue TTM 10.64b)
Gross Margin = 30.80% ((Revenue TTM 10.64b - Cost of Revenue TTM 7.36b) / Revenue TTM)
Gross Margin QoQ = 18.56% (prev 29.35%)
Tobins Q-Ratio = 2.61 (Enterprise Value 54.22b / Total Assets 20.78b)
Interest Expense / Debt = 4.54% (Interest Expense 406.0m / Debt 8.94b)
Taxrate = 23.62% (88.5m / 374.8m)
NOPAT = 1.22b (EBIT 1.60b * (1 - 23.62%))
Current Ratio = 0.67 (Total Current Assets 1.40b / Total Current Liabilities 2.09b)
Debt / Equity = 1.10 (Debt 8.94b / totalStockholderEquity, last quarter 8.09b)
Debt / EBITDA = 3.29 (Net Debt 8.83b / EBITDA 2.68b)
Debt / FCF = 4.35 (Net Debt 8.83b / FCF TTM 2.03b)
Total Stockholder Equity = 8.08b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.02% (Net Income 626.8m / Total Assets 20.78b)
RoE = 7.76% (Net Income TTM 626.8m / Total Stockholder Equity 8.08b)
RoCE = 9.56% (EBIT 1.60b / Capital Employed (Equity 8.08b + L.T.Debt 8.62b))
RoIC = 7.42% (NOPAT 1.22b / Invested Capital 16.44b)
WACC = 6.36% (E(45.39b)/V(54.34b) * Re(6.93%) + D(8.94b)/V(54.34b) * Rd(4.54%) * (1-Tc(0.24)))
Discount Rate = 6.93% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -0.14%
[DCF Debug] Terminal Value 79.81% ; FCFE base≈1.71b ; Y1≈1.91b ; Y5≈2.53b
Fair Price DCF = 171.4 (DCF Value 43.87b / Shares Outstanding 256.0m; 5y FCF grow 13.45% → 3.0% )
EPS Correlation: 85.16 | EPS CAGR: 15.83% | SUE: 2.00 | # QB: 3
Revenue Correlation: 87.68 | Revenue CAGR: 24.62% | SUE: 4.0 | # QB: 2
EPS next Quarter (2026-03-31): EPS=1.25 | Chg30d=+0.007 | Revisions Net=-1 | Analysts=14
EPS next Year (2026-12-31): EPS=5.67 | Chg30d=-0.012 | Revisions Net=-14 | Growth EPS=+10.4% | Growth Revenue=+5.6%
Additional Sources for WCN Stock
News:
Wall Street Journal |
Benzinga |
Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle