Waste Connections Inc

Waste Connections Inc

WCN

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Market Cap$37.86B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Waste Connections IncWaste Connections Inc360.92%13%3.61.2

Earnings Call Q1 2026

April 23, 2026 - AI Summary

Q1 performance strong; 2026 outlook reaffirmed (margin durability) - Revenue $2.371B, up 6.4% YoY (+$143M), with acquisitions net of divestitures adding $55M. - Adjusted EBITDA $769.5M up 8% YoY; EBITDA margin 32.5%, up 90 bps YoY *excluding commodity impacts*. - Management said results exceeded expectations and “nothing today” undermines the full-year outlook given in February.
Price, volumes, and “special waste” momentum—core pricing visibility improved - Core price = 6% in Q1; company reiterated full-year 2026 core pricing outlook at the high end ~5.5% (range 5.0%–5.5%). - Yield 4.7%; volumes slightly weak due to weather but improving churn dynamics. - Landfill tons up ~4% YoY: MSW +5%, special waste +8% (6th consecutive quarter of improvement), C&D -5%. - Weather impact was meaningful in some markets (notably Northeast) but company still achieved volume expectations.
Fuel/oil shock managed with hedges + surcharges (timing creates near-term margin pressure) - US spot diesel +12% YoY, with +35% in March; Q1 fuel costs about $5M above expectations. - Exposure limited: hedged ~50% of expected diesel requirements for 2026. - Fuel surcharges in many markets should recover costs over time, but lag is real—management emphasized Q2 is likely the toughest quarter for margin because recovery is delayed by billing mechanics (advance billing + surcharge rules). - Example sizing discussed: if ~50M gallons aren’t hedged, incremental surcharge dynamics could produce something like $60M–$70M of P&L margin impact over quarters as recovery flows through (timing key).

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$203.00

Target Price by Analysts

34.5% upsideWaste Connections Target Price DetailsTarget Price
$105.07

Current Fair Value

30.4% downside

Overvalued by 30.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$37.86 Billion
Enterprise Value$47.60 Billion
Dividend Yield$1.40 (0.92%)
Earnings per Share$4.19
Beta0.54
Outstanding Shares255,347,786

Return

Return on Equity13.09%ROE
Return on Assets4.98%
Return on Invested Capital8.40%

Valuation & Multiples

P/E Ratio35.95P/E Ratio
PEG-391.73PEG
Price to Sales3.59Price to Sales
Price to Book Ratio4.87Price to Book Ratio
Enterprise Value to Revenue4.38
Enterprise Value to EBIT29.56
Enterprise Value to Net Income45
Total Debt to Enterprise0.21
Debt to Equity1.22Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
April 29, 2026
EPS Estimate
$1.19
Average shareholder expectation
Revenue Estimate
$2.34 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 22, 2026
EPS Estimate
$1.36
Average shareholder expectation
Revenue Estimate
$2.51 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.4022▼ 1.48%
Total Calls392,700▲ 34.12%
Total Puts157,943▲ 29.36%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %83.68%▼ 1.46%
Total Invested$34.80B▼ 9.48%
Investors Holding811▼ 11.00%

ESG Score

No data

About Waste Connections Inc

Relevant Senate Committees

Joint Committee on Taxation

This committee provides critical analysis and revenue estimates for all tax legislation, directly influencing the final shape of tax policies that impact corporate structures, investment credits, and the overall tax burden for Waste Connections.

Finance

This powerful committee controls taxation, which directly impacts Waste Connections' profitability, capital investments, and overall financial health through corporate tax policy changes.

Judiciary

This committee oversees antitrust laws and the DOJ, which is highly relevant to the waste management industry's history of consolidation. Its decisions on mergers and monopolistic practices directly impact Waste Connections' growth strategy and market structure.

Environment and Public Works

This committee directly regulates the EPA, which has extensive jurisdiction over waste management, landfills, recycling, and environmental compliance. Its decisions on environmental regulations and infrastructure directly impact Waste Connections' operational costs and licensing.