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