Waste Connections Inc

Waste Connections Inc

WCN

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Market Cap$42.19B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Waste Connections IncWaste Connections Inc40.40.82%13%3.91.3

Earnings Call Q2 2026

July 23, 2026 - AI Summary

Q2 performance stronger than expected; margins expanded despite headwinds - Revenue $2.562B, +6.4% YoY; adjusted EBITDA $840.1M (+6.8% YoY). - Adjusted EBITDA margin 32.8%, expanding +70 bps underlying, but partially offset by ~40 bps drag from fuel and ~20 bps drag from lower commodity values. - Organic solid waste pricing strong: total price +6.7% = core price +5.6% plus fuel/material surcharges +1.1% (~$25M). - Volumes down ~1.9% YoY; yield 4.6% steady (AI pricing optimization helped).
Macro + fuel created pressure, but company sees normalization improving - Main challenge: fuel spiked rapidly ($60 to $120+ in weeks), causing margin pressure and contributing to volume churn and slower construction-driven activity. - Management said churn impacts from fuel were broadly consistent with history, but the *speed* of increase likely added ~10–15 bps volume churn in the quarter. - Growth slowdown appeared temporary: they’re seeing improvement in July with MSW and C&D up nominally across several weeks, and signs equipment rental demand is accelerating (waste generation may lag).
Updated full-year 2026 outlook increased (but cash flow range unchanged) - Revenue outlook: $10.02B–$10.05B (up ~$100M–$120M vs. February guidance). - Adjusted EBITDA outlook: $3.33B–$3.34B, with full-year margin 33.2%–33.3%. - Adjusted free cash flow outlook unchanged: $1.4B–$1.45B (includes expected Chiquita Canyon closure outflows $100M–$150M and CapEx $1.25B). - 2H margin cadence: average ~33.7%, with Q3 potentially exceeding 34% depending on fuel/commodities.

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$200.50

Target Price by Analysts

21.1% upsideWaste Connections Target Price DetailsTarget Price
$100.28

Current Fair Value

39.4% downside

Overvalued by 39.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$42.19 Billion
Enterprise Value$52.13 Billion
Dividend Yield$1.36 (0.82%)
Earnings per Share$4.19
Beta0.48
Outstanding Shares255,347,786

Return

Return on Equity13.39%ROE
Return on Assets4.96%
Return on Invested Capital8.42%

Valuation & Multiples

P/E Ratio40.43P/E Ratio
PEG1916.68PEG
Price to Sales3.85Price to Sales
Price to Book Ratio5.34Price to Book Ratio
Enterprise Value to Revenue4.73
Enterprise Value to EBIT32.07
Enterprise Value to Net Income49
Total Debt to Enterprise0.19
Debt to Equity1.27Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 22, 2026
EPS Estimate
$1.35
Average shareholder expectation
Revenue Estimate
$2.51 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 20, 2026
EPS Estimate
$1.51
Average shareholder expectation
Revenue Estimate
$2.61 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 40.22%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %3.88%▼ 79.84%
Total Invested$1.68B▼ 95.17%
Investors Holding272▼ 543.00%

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.