GFL Environmental Inc.

NYSE:GFL Stock Report

Market Cap: US$14.5b

GFL Environmental Past Earnings Performance

Past criteria checks 2/6

GFL Environmental has been growing earnings at an average annual rate of 27.4%, while the Commercial Services industry saw earnings growing at 9.1% annually. Revenues have been growing at an average rate of 5.7% per year. GFL Environmental's return on equity is 3.2%, and it has net margins of 3.1%.

Key information

27.42%

Earnings growth rate

28.60%

EPS growth rate

Commercial Services Industry Growth8.53%
Revenue growth rate5.71%
Return on equity3.16%
Net Margin3.14%
Next Earnings Update29 Jul 2026

Recent past performance updates

Recent updates

Seeking Alpha • May 13

GFL Environmental: Valuation Has Turned Cheap While Fundamentals Remain Strong

Summary I upgrade GFL Environmental to buy, driven by robust pricing power and margin expansion, independent of macro recovery. GFL posted Q1 2026 organic revenue growth of 4.6%, with pricing up 7% and consolidated adj. EBITDA margin expanded 180 bps to 29.1%. SECURE Waste Infrastructure acquisition offers potential upside to FY2026 guidance, with identified CAD25–75 million in synergies and strong volume visibility. GFL trades at 11.5x NTM EBITDA, a discount to peers, while sustaining low-to-mid-teens adj. EBITDA growth and offering attractive risk-reward. Read the full article on Seeking Alpha
Seeking Alpha • Nov 15

GFL Environmental: EBITDA Growth Should Accelerate From Here

Summary I recommend a buy rating for GFL Environmental due to expected accelerated EBITDA growth and positive valuation revisions as leverage decreases. The sale of the Environmental Services business is a positive catalyst, expected to provide CAD6 billion post-tax, aiding in debt reduction and share buybacks. Risks include potential headwinds from commodity cost fluctuations, but overall, GFL's EBITDA growth and deleveraging efforts should align its valuation with peers. Read the full article on Seeking Alpha
Seeking Alpha • Aug 15

GFL Environmental: Buyout Premium Fully Priced In

Summary GFL is evaluating two significant buyout offers; one for the entire company, and another only for their environmental services segment. GFL Environmental is navigating increased labor and CapEx costs. However, I believe management's decision to shed low-margin contracts is the right move. The share price jumped by 30% following reports of the buyout scenarios. I believe the current share price is likely factoring in the potential buyout premium, therefore my Hold rating. Read the full article on Seeking Alpha
Seeking Alpha • Mar 07

GFL Environmental: Multiple Drivers That Could Lead To FY24 EBITDA Guidance Beat

Summary GFL Environmental's stock price remains pressured despite a strong earnings report, providing an opportunity for investors to buy. The company is expected to easily beat its FY24 EBITDA guidance due to various factors, including improved repair and maintenance, higher commodity prices, and upcoming projects. GFL's ability to generate cash and deleverage its balance sheet is not fully appreciated by the market, presenting valuation upside potential. Read the full article on Seeking Alpha
Seeking Alpha • Feb 27

GFL Environmental: Poised For Improvement Amid Strong M&A Activity And Expanding Margins

Summary GFL Environmental is a Canadian waste management company positioned to take advantage of industry consolidation and establish local monopolies. The market is underestimating GFL's potential due to high leverage and lack of free cash flow, but the next few years will be pivotal for the company. While the debt balance is high relative to industry peers, it is manageable and should become less of an issue as management de-risks the company and underlying fundamentals improve. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How GFL Environmental makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:GFL Revenue, expenses and earnings (CAD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 266,7002119580
31 Dec 256,6162119670
30 Sep 256,501-749250
30 Jun 256,361-1569220
31 Mar 256,267-9738980
31 Dec 246,139-9638650
30 Sep 246,450-8248900
30 Jun 246,786-8469100
31 Mar 247,148-209240
31 Dec 237,516-478960
30 Sep 237,454-1308030
30 Jun 237,395-3337650
31 Mar 237,159-5437270
31 Dec 226,761-1846750
30 Sep 226,380-1206320
30 Jun 225,930-2465860
31 Mar 225,438-2665350
31 Dec 215,137-6814990
30 Sep 214,933-1,1934790
30 Jun 214,587-9784390
31 Mar 214,365-1,1354190
31 Dec 204,196-1,1164480
30 Sep 203,857-6894400
30 Jun 203,719-6844260
31 Mar 203,557-6364010
31 Dec 193,347-4523310
30 Sep 193,068-4502770
30 Jun 192,621-3922450
31 Mar 192,242-5202350
31 Dec 181,853-4831980
31 Dec 171,333-1011360
31 Dec 16934-1521050

Quality Earnings: GFL has a large one-off gain of CA$255.7M impacting its last 12 months of financial results to 31st March, 2026.

Growing Profit Margin: GFL became profitable in the past.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: GFL has become profitable over the past 5 years, growing earnings by 27.4% per year.

Accelerating Growth: GFL has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GFL has become profitable in the last year, making it difficult to compare its past year earnings growth to the Commercial Services industry (8.8%).

Return on Equity

High ROE: GFL's Return on Equity (3.2%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 06:36
End of Day Share Price 2026/07/06 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

GFL Environmental Inc. is covered by 25 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christopher MurrayATB Cormark
Moses SuttonBarclays
William GrippinBarclays