Saturday 17 October 2026
Export CWST’s income statement to Excel — free account
Casella Waste Systems, Inc.
CWST Industrials Waste Management
Casella Waste Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 18.0% from fiscal 2024. In the quarter to June 2026, revenue grew 16.9%, EPS fell 25.0%, free cash flow grew 14.2% and total debt rose 18.1%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for five.
88.00
1.50
+1.73%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | 4 | 5 | 6 | 7 | 5 | 7 | 5 | 5 | 5 |
P/E ratio |
0.00 | 0.00 | 189.93 | 69.74 | 33.85 | 106.78 | 77.29 | 188.18 | 460.04 | 816.17 |
P/S ratio |
0.93 | 1.62 | 1.84 | 2.92 | 3.90 | 4.93 | 3.75 | 3.69 | 4.05 | 3.38 |
Altman Z-Score |
0.76 | 0.88 | 1.29 | 2.02 | 2.80 | 3.70 | 3.41 | 2.46 | 2.86 | 2.74 |
P/FCF ratio |
19.00 | 22.34 | 25.09 | 150.81 | 93.45 | 72.77 | 46.81 | 58.92 | 79.28 | 73.33 |
Altman Z″-Score (non-manufacturers) |
(1.53) | (2.34) | (1.52) | (0.90) | 0.70 | 0.32 | 0.74 | 1.12 | 1.61 | 1.11 |
P/Operating CF |
21.49 | 34.08 | 39.34 | 47.95 | 107.93 | 90.10 | 62.73 | 62.07 | 57.43 | 64.37 |
Beneish M-Score |
(3.15) | (3.35) | (2.98) | (2.64) | (2.77) | (2.83) | (2.85) | (2.29) | (2.77) | (2.82) |
P/B ratio |
0.00 | 0.00 | 0.00 | 17.71 | 8.35 | 10.38 | 8.17 | 4.57 | 4.06 | 3.96 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 27.75 | 45.72 | 30.91 | 104.54 | 26.81 | 39.39 |
EV/Sales |
1.82 | 2.42 | 2.66 | 3.61 | 4.40 | 5.51 | 4.23 | 4.35 | 4.53 | 3.95 |
EV/EBITDA |
8.58 | 23.44 | 14.35 | 19.86 | 22.38 | 26.71 | 20.54 | 21.62 | 22.71 | 19.40 |
EV/Operating CF |
12.80 | 13.48 | 14.54 | 22.97 | 24.36 | 26.82 | 21.13 | 23.57 | 25.07 | 21.97 |
EV/FCF |
37.37 | 33.41 | 36.24 | 186.18 | 105.36 | 81.38 | 52.82 | 69.29 | 88.72 | 85.49 |
Quick Ratio |
0.78 | 0.77 | 0.73 | 0.65 | 1.74 | 0.79 | 0.97 | 1.37 | 1.79 | 1.03 |
Current Ratio |
0.95 | 0.95 | 0.87 | 0.79 | 1.88 | 0.96 | 1.17 | 1.53 | 2.00 | 1.26 |
Net Debt/EBITDA |
4.22 | 7.77 | 4.41 | 3.77 | 2.53 | 2.83 | 2.34 | 3.24 | 2.41 | 2.76 |
Debt/Assets |
80.54% | 78.46% | 74.32% | 55.07% | 45.20% | 43.04% | 40.99% | 41.15% | 35.08% | 34.95% |
Debt/Equity |
(20.72) | (12.74) | (34.38) | 4.18 | 1.49 | 1.31 | 1.19 | 1.02 | 0.73 | 0.74 |
Asset Turnover |
0.89 | 0.96 | 0.98 | 0.89 | 0.73 | 0.72 | 0.79 | 0.63 | 0.54 | 0.56 |
Operating CF/Net income |
(11.74) | (4.93) | 18.82 | 3.69 | 1.54 | 4.45 | 4.09 | 9.18 | 20.79 | 41.90 |
Capex/Depreciation |
(0.70) | (0.86) | (0.88) | (1.25) | (1.16) | (1.16) | (1.02) | (0.89) | (0.85) | (0.79) |
Interest Coverage |
1.15 | (0.50) | 1.51 | 2.11 | 2.65 | 3.66 | 4.02 | 1.69 | 1.17 | 1.02 |
| 29.68% | 69.86% | (23.91%) | 59.21% | 37.58% | 10.48% | 11.53% | 3.34% | 1.05% | 0.50% | |
| (1.08%) | (3.50%) | 0.95% | 3.80% | 8.57% | 3.32% | 3.88% | 1.27% | 0.47% | 0.24% | |
ROIC |
5.83% | (1.78%) | 4.73% | 5.24% | 4.96% | 5.16% | 5.84% | 2.73% | 1.98% | 1.53% |
Return on Tangible Assets |
(1.74%) | (6.10%) | 1.65% | 7.61% | 14.54% | 6.43% | 7.07% | 2.25% | 0.92% | 0.58% |
Average Days of Receivables |
39.95 | 40.49 | 42.65 | 40.00 | 35.07 | 35.70 | 33.94 | 46.30 | 38.89 | 35.38 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
13.34% | 13.22% | 12.83% | 12.48% | 13.22% | 13.36% | 12.30% | 12.32% | 12.25% | 12.21% |
Intangible Assets out of Total Assets |
0.20 | 0.21 | 0.27 | 0.26 | 0.21 | 0.25 | 0.25 | 0.39 | 0.41 | 0.43 |
Share Based Compensation of Revenue |
0.60% | 1.07% | 1.28% | 0.97% | 1.06% | 1.30% | 0.75% | 0.72% | 0.78% | 0.77% |
Graham Net Nets |
(1.10) | (0.59) | (0.54) | (0.33) | (0.19) | (0.16) | (0.18) | (0.23) | (0.17) | (0.22) |
Graham Number |
1.51 | 3.24 | 0.00 | 6.21 | 17.48 | 12.17 | 14.88 | 13.69 | 11.61 | 8.17 |
Earnings Yield |
(1.34%) | (2.23%) | 0.53% | 1.43% | 2.95% | 0.94% | 1.29% | 0.53% | 0.22% | 0.12% |
Free Cash Flow Yield |
5.26% | 4.48% | 3.99% | 0.66% | 1.07% | 1.37% | 2.14% | 1.70% | 1.26% | 1.36% |
Revenue per Share |
13.70 | 14.32 | 15.48 | 15.74 | 15.87 | 17.33 | 21.02 | 22.92 | 26.14 | 28.94 |
Operating CF per Share |
1.95 | 2.57 | 2.83 | 2.47 | 2.87 | 3.56 | 4.21 | 4.22 | 4.72 | 5.20 |
Capex per Share |
(1.28) | (1.53) | (1.70) | (2.17) | (2.20) | (2.39) | (2.53) | (2.79) | (3.39) | (3.86) |
Free Cash Flow per Share |
0.67 | 1.04 | 1.14 | 0.31 | 0.66 | 1.17 | 1.68 | 1.44 | 1.33 | 1.34 |
Cash per Share |
0.06 | 0.05 | 0.09 | 0.07 | 3.16 | 0.66 | 1.38 | 4.00 | 6.43 | 1.95 |
Shareholders Equity per Share |
(0.60) | (0.90) | (0.37) | 2.60 | 7.42 | 8.23 | 9.64 | 18.52 | 26.03 | 24.72 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(0.60) | (0.90) | (0.37) | 2.60 | 7.42 | 8.23 | 9.64 | 18.52 | 26.03 | 24.72 |
Free Cash Flow |
27.56 | 43.39 | 48.47 | 14.41 | 32.35 | 60.23 | 86.95 | 79.30 | 79.23 | 84.84 |
Working Capital |
(3.84) | (4.19) | (14.40) | (27.78) | 116.05 | (5.71) | 29.88 | 147.47 | 305.99 | 75.38 |
Capital Expenditures |
(52.88) | (64.15) | (72.36) | (102.41) | (107.57) | (122.51) | (130.36) | (153.80) | (202.13) | (244.93) |
Net Current Asset Value |
(577.47) | (568.43) | (651.15) | (706.62) | (584.50) | (714.64) | (743.84) | (1,087.35) | (1,065.92) | (1,365.34) |
EV/EBIT |
22.91 | 0.00 | 44.21 | 50.56 | 57.47 | 63.12 | 48.15 | 68.32 | 96.94 | 113.81 |
Capex to Sales |
0.09 | 0.11 | 0.11 | 0.14 | 0.14 | 0.14 | 0.12 | 0.12 | 0.13 | 0.13 |
Price to Operating Income |
11.65 | 0.00 | 30.61 | 40.96 | 50.98 | 56.44 | 42.66 | 58.09 | 86.64 | 97.62 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.19 | 0.21 | 0.20 | 0.18 | 0.18 | 0.16 | 0.18 | 0.18 | 0.20 | 0.24 |
Cash ROIC |
5.66% | 9.71% | 9.10% | 2.25% | 3.06% | 5.97% | 7.48% | 3.47% | 2.58% | 2.98% |
Accounts Receivable Turnover |
9.21 | 9.34 | 9.20 | 9.37 | 9.94 | 11.02 | 11.55 | 9.68 | 9.54 | 10.68 |
Accounts Payable Turnover |
8.50 | 8.80 | 8.69 | 8.36 | 9.08 | 10.37 | 10.53 | 8.71 | 9.02 | 11.39 |
Inventory Turnover |
83.06 | 70.78 | 69.33 | 71.54 | 66.33 | 66.19 | 62.34 | 53.11 | 52.15 | 0.00 |
Average Days of Payables |
43.00 | 42.41 | 46.13 | 46.21 | 34.82 | 39.54 | 37.45 | 51.24 | 39.47 | 30.74 |
Days of Inventory on Hand |
4.70 | 5.89 | 5.27 | 5.51 | 5.57 | 6.10 | 6.80 | 7.83 | 7.65 | 0.00 |
Average Receivables |
61.33 | 64.16 | 71.83 | 79.32 | 77.94 | 80.70 | 93.93 | 130.65 | 163.17 | 171.99 |
Average Payables |
44.96 | 46.04 | 52.19 | 60.84 | 56.80 | 56.14 | 68.64 | 95.50 | 113.94 | 106.78 |
Average Inventory |
4.60 | 5.72 | 6.54 | 7.11 | 7.77 | 8.80 | 11.60 | 15.67 | 19.70 | — |
Average Assets |
632.59 | 623.23 | 673.68 | 832.30 | 1,063.04 | 1,238.74 | 1,366.40 | 1,992.34 | 2,882.77 | 3,266.70 |
Average Common Equity |
(23.07) | (31.21) | (26.85) | 53.46 | 242.45 | 392.30 | 460.18 | 759.85 | 1,286.32 | 1,559.77 |
Columns are period end dates