Waste Connections (WCN) Stock Overview
Provides non-hazardous waste collection, transfer, and disposal services in the United States and Canada. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 1/6 |
| Past Performance | 5/6 |
| Financial Health | 2/6 |
| Dividends | 4/6 |
WCN Community Fair Values
Create NarrativeSee what 31 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Waste Connections, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$155.22 |
| 52 Week High | US$192.72 |
| 52 Week Low | US$146.89 |
| Beta | 0.50 |
| 1 Month Change | 2.24% |
| 3 Month Change | -6.23% |
| 1 Year Change | -17.87% |
| 3 Year Change | 14.36% |
| 5 Year Change | 27.59% |
| Change since IPO | 246.58% |
Recent News & Updates
Narrative Update • Jun 01
WCN: Future Returns Will Depend On Premium P/E And Quality EBITDA Profile
The analyst price target for Waste Connections has moved from $199.16 to $204.32 as analysts cite updated assumptions around slightly higher revenue growth, a modestly lower discount rate, and a slightly higher future P/E multiple, supported by a series of recent target increases across the Street. Analyst Commentary Bullish Takeaways Bullish analysts are lifting targets by increments of US$2 to US$15, which signals higher assumed value on the company’s ability to execute on its current business model.
New Narrative • May 13
RNG Projects And AI Adoption Will Transform Waste Services Earnings Profile
Catalysts About Waste Connections Waste Connections provides nonhazardous solid waste collection, transfer, disposal and recycling services, along with energy oriented waste handling and renewable natural gas from landfill gas. What are the underlying business or industry changes driving this perspective?Recent updates
Narrative Update • Jun 01
WCN: Future Returns Will Depend On Premium P/E And Quality EBITDA Profile
The analyst price target for Waste Connections has moved from $199.16 to $204.32 as analysts cite updated assumptions around slightly higher revenue growth, a modestly lower discount rate, and a slightly higher future P/E multiple, supported by a series of recent target increases across the Street. Analyst Commentary Bullish Takeaways Bullish analysts are lifting targets by increments of US$2 to US$15, which signals higher assumed value on the company’s ability to execute on its current business model.New Narrative • May 13
RNG Projects And AI Adoption Will Transform Waste Services Earnings Profile
Catalysts About Waste Connections Waste Connections provides nonhazardous solid waste collection, transfer, disposal and recycling services, along with energy oriented waste handling and renewable natural gas from landfill gas. What are the underlying business or industry changes driving this perspective?
New Narrative • Apr 25
AI And Landfill Gas Projects Will Shape A Steady But Limited Future Outlook
Catalysts About Waste Connections Waste Connections provides nonhazardous solid waste collection, transfer, disposal and related services across North America. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 19
WCN: Future Returns Will Rely On Premium P/E And Quality EBITDA Execution
Analysts have made a small upward adjustment to the fair value estimate for Waste Connections, with the updated price target moving from about $198.84 to roughly $199.16. This reflects recent research that highlights quality-driven EBITDA growth potential and a premium valuation stance within the waste group.Seeking Alpha • Apr 12
Waste Connections: Waiting For A Better Entry Point Amid Iran Inflation Risks
Summary Waste Connections remains a hold, trading near intrinsic value given the current macro pressure. WCN projects double-digit adj. FCF growth in 2026, driven by core price increases, cost moderation, and accretive acquisitions. Leverage is at 2.75x EBITDA, within the target range, with well-laddered debt maturities and recent $600M notes issued at 4.8%. Macro risks, including economic slowdown and inflation from geopolitical tensions, could pressure WCN's business and stock price. Read the full article on Seeking AlphaNarrative Update • Apr 04
WCN: Future Returns Will Rely On Premium P/E Despite Chiquita Closure Costs
Analysts made a marginal trim to the Waste Connections fair value estimate, with the target easing by about $0.10 to roughly $198.80. A slightly higher discount rate and refreshed earnings models, including several reduced Street price targets and a new $199 Outperform initiation, fed into the updated view.Narrative Update • Mar 21
WCN: Future Returns Will Be Driven By Premium P/E Despite Higher Chiquita Outlays
Narrative Update on Waste Connections The analyst fair value estimate for Waste Connections has inched up from $198.75 to $198.92, as analysts weigh a mix of reduced price targets following Q4 results and 2026 guidance updates against fresh bullish coverage that highlights the company as a higher quality operator that may warrant a premium P/E multiple. Analyst Commentary Recent research on Waste Connections reflects a mix of optimism around business quality and caution around longer term guidance and project related cash needs.Narrative Update • Mar 07
WCN: Future Returns Will Be Driven By M&A Despite Higher Chiquita Outlays
Analysts have lowered their average price target for Waste Connections in line with recent Street reductions, while our fair value estimate remains at $198.75 as they incorporate updated Q4 results, 2026 guidance, and higher anticipated Chiquita landfill-related outlays. Analyst Commentary Recent research updates cluster around a similar message for Waste Connections: the stock is still generally viewed favorably, but analysts are marking their models to current guidance and higher expected Chiquita landfill spending, which has led to a series of lower price targets across the Street.Narrative Update • Feb 20
WCN: Future Returns Will Be Driven By Compounding M&A Despite Chiquita Cash Outlays
Our updated fair value estimate for Waste Connections moves to $198.75 from $204.25, reflecting analysts' lower price targets after 2026 guidance that points to softer growth assumptions and higher expected cash outlays tied to the Chiquita landfill. Analyst Commentary Street research around the latest quarter and 2026 outlook has become more cautious, with most firms trimming price targets while largely maintaining positive ratings.Narrative Update • Feb 06
WCN: Future Returns Will Be Driven By Compounding M&A And Chiquita Remediation Resolution
Analysts have trimmed their fair value estimate for Waste Connections by about $0.21 to roughly $204.25. This reflects slightly higher discount rate assumptions and more conservative views on revenue growth, profit margins, and future P/E multiples following a series of recent target cuts across the Street.Narrative Update • Jan 22
WCN: Future Returns Will Be Driven By Compounding M&A Despite Chiquita Remediation Uncertainty
Narrative Update on Waste Connections Analysts have trimmed their average price target on Waste Connections by about $1. This reflects slightly higher discount rate assumptions, marginally lower revenue growth and profit margin expectations, and a modestly lower future P/E multiple, in line with recent target reductions from several firms.Narrative Update • Jan 07
WCN: Future Returns Will Be Driven By Compounding M&A And Cash Return Programs
The analyst price target for Waste Connections has edged up by about $1 to roughly $205.71, as analysts point to consistent Q3 execution, solid waste margin potential, ongoing acquisition opportunities, and a generally supportive view of the company as a high quality compounder, despite some timing adjustments around future RNG contributions. Analyst Commentary Recent Street research on Waste Connections centers on the quality of the core solid waste business, the role of acquisitions, and timing questions around renewable natural gas, or RNG, projects and other macro exposed areas like recycling and specialty waste.Narrative Update • Dec 23
WCN: Future Returns Will Be Driven By Accretive M&A And Aggressive Buybacks
The analyst price target for Waste Connections has inched higher to approximately $205 from about $205 previously, as analysts highlight the company’s consistent outperformance, margin expansion potential, and long runway for value accretive M&A, despite near term sector headwinds. Analyst Commentary Bullish analysts generally frame Waste Connections as a high quality compounder, emphasizing its history of value accretive acquisitions and a long runway to continue consolidating fragmented secondary and rural markets.Narrative Update • Dec 09
WCN: Margin Expansion Will Be Driven By M&A And Aggressive Buybacks
Analysts have nudged their blended price target for Waste Connections modestly higher to about $205 per share, citing the company’s consistent outperformance versus quarterly expectations, a robust M&A pipeline, and its positioning as a high quality compounder with solid waste margin expansion and free cash flow inflection potential despite near term sector headwinds. Analyst Commentary Recent Street research on Waste Connections reflects a generally constructive stance, with most firms either initiating at positive ratings or modestly raising price targets while acknowledging pockets of execution and macro risk.Narrative Update • Nov 25
WCN: Long-Term Margin Expansion Will Be Driven By Acquisitions And Buybacks
Analysts have slightly lowered their average price target for Waste Connections to $204.96 from $205.36. They cite near-term margin pressures and moderated growth expectations, despite continued confidence in the company's acquisition strategy and resilient core business.Narrative Update • Nov 05
WCN: Share Repurchases And Dividend Hike Will Drive Long-Term Margin Expansion
Waste Connections saw its average analyst price target edge up modestly by $0.42 to $207.00, as analysts cited continued outperformance versus expectations and optimism around long-term margin expansion and project execution, even though some forecasts for 2026 have been tempered. Analyst Commentary Analysts covering Waste Connections provided a range of perspectives following the latest financial results and guidance updates.Analysis Article • Oct 29
Waste Connections (NYSE:WCN) Is Paying Out A Larger Dividend Than Last Year
The board of Waste Connections, Inc. ( NYSE:WCN ) has announced that the dividend on 20th of November will be increased...Narrative Update • Oct 22
Analysts Update Price Target as Waste Connections Announces Dividend Increase and Share Repurchases
The analyst price target for Waste Connections has been modestly adjusted from $208.59 to $206.77 per share. This change reflects analysts' views on revenue growth, profit margins, and the company's differentiated strategy within a resilient waste management sector.Narrative Update • Oct 08
Acquisitions And New Jersey Facility Integration Will Boost Operational Excellence
Analysts have slightly lowered their price target for Waste Connections, reducing the fair value from $210.95 to $208.59. They cited marginally softer growth and profitability expectations but affirmed confidence in the company’s long-term strategy and market position.Analysis Article • Sep 22
Waste Connections (NYSE:WCN) Seems To Use Debt Quite Sensibly
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Analysis Article • Aug 26
Why We're Not Concerned About Waste Connections, Inc.'s (NYSE:WCN) Share Price
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 19x, you may...Analysis Article • Jul 07
Slowing Rates Of Return At Waste Connections (NYSE:WCN) Leave Little Room For Excitement
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Seeking Alpha • Jan 20
Waste Connections: Hauling Trash And Stacking Cash
Summary Waste Connections (WCN) is a leading waste management provider in the U.S. and Canada, with a market cap of $45B and a CAGR of 18.23% since 2016. The company has grown revenue at 12% annually over the past decade, with recent years showing a rebound in gross profit margins close to 42%. Given its consistent revenue growth, improving gross margins, and reliable business model, WCN is a strong consideration for dividend-focused investors. Read the full article on Seeking AlphaSeeking Alpha • Jan 09
Pricey, But Waste Connections Still A Good Deal
Summary Waste Connections, Inc. is rated a Strong Buy due to its steady price growth, strong fundamentals, and effective management strategy. WCN's competitive advantage lies in targeting less competitive markets and maintaining solid net margins comparable to larger competitors. Q3-2025 earnings beat estimates, showing strong revenue growth and increased EBITDA margins, reinforcing the company's growth trajectory. Read the full article on Seeking AlphaSeeking Alpha • Oct 28
Waste Connections: Great Business, Poor Valuation
Summary Waste Connections, Inc. is not undervalued but has a strong cash-generative history in a favorable market. WCN operates similarly to its main competitor, Waste Management, showcasing significant cash flow growth over the years. The company has tripled its cash flow over the past decade, highlighting its robust financial performance. Valuation is stretched as the FCF yield doesn't offer any downside protection from a re-rating. Read the full article on Seeking AlphaSeeking Alpha • Sep 08
Waste Connections: Waste Margin Improved 80-90bps
Summary I reiterate a 'Buy' rating for Waste Connections, with a fair value of $200 per share, due to strong margin expansion and pricing growth. Waste Connections reported 11.2% revenue growth and 16.4% EBITDA increase, driven by terminating lower-margin contracts and optimizing cost structures. The company has a robust M&A pipeline, expecting $700 million additional revenue in FY24, with $1.5 billion already spent on acquisitions this year. Despite potential cost increases from new EPA rules, Waste Connections maintains a strong balance sheet and prioritizes profitability over volume growth. Read the full article on Seeking AlphaShareholder Returns
| WCN | US Commercial Services | US Market | |
|---|---|---|---|
| 7D | 3.8% | 2.2% | -2.5% |
| 1Y | -17.9% | -14.5% | 22.7% |
Return vs Industry: WCN underperformed the US Commercial Services industry which returned -15% over the past year.
Return vs Market: WCN underperformed the US Market which returned 22.8% over the past year.
Price Volatility
| WCN volatility | |
|---|---|
| WCN Average Weekly Movement | 3.7% |
| Commercial Services Industry Average Movement | 8.1% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.6% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: WCN has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: WCN's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1997 | 24,214 | Ron Mittelstaedt | www.wasteconnections.com |
Waste Connections, Inc. provides non-hazardous waste collection, transfer, and disposal services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals. The company owns and operates transfer stations that receive, compact, and/or load waste to be transported to landfills or treatment facilities through truck, rail, or barge; develops, owns, and operates projects or the beneficial reuse of landfill gas through landfill network; and intermodal services for the movement of cargo and solid waste containers.
Waste Connections, Inc. Fundamentals Summary
| WCN fundamental statistics | |
|---|---|
| Market cap | US$39.44b |
| Earnings (TTM) | US$1.05b |
| Revenue (TTM) | US$9.61b |
37.4x
P/E Ratio4.1x
P/S RatioIs WCN overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| WCN income statement (TTM) | |
|---|---|
| Revenue | US$9.61b |
| Cost of Revenue | US$5.53b |
| Gross Profit | US$4.08b |
| Other Expenses | US$3.03b |
| Earnings | US$1.05b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 4.15 |
| Gross Margin | 42.50% |
| Net Profit Margin | 10.97% |
| Debt/Equity Ratio | 112.9% |
How did WCN perform over the long term?
See historical performance and comparisonDividends
0.9%
Current Dividend Yield32%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/08 10:16 |
| End of Day Share Price | 2026/06/05 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
Waste Connections, Inc. is covered by 36 analysts. 26 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Harriet Li | Accountability Research Corporation |
| Christopher Murray | ATB Cormark |
| William Grippin | Barclays |