Saturday 17 October 2026 Export CWST’s income statement to Excel — free account

Casella Waste Systems, Inc.

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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Market cap: $5.5B
P/E: 978×
Fwd P/E: 559×
Dividend yield: —
F-score: 5/9
Altman Z: 2.74
Beneish M: −2.82
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 5.53

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	1	—	5	6	—	2	—	—	2	—	—

Insider Ownership 2.17%

Capital & Financial Ratios $m

Market Cap 5,500.00

Revenue 1,955.48

Net Income 5.70

Free Cash Flow 106.62

Net Debt 1,325.17

Current Ratio 0.99

Debt/Equity 0.85

P/E ratio 977.78

Fwd P/E 559.00

P/S ratio 2.86

P/B ratio 3.54

Past 5Y EPS Growth (42.20%)

This Y EPS Growth 6.44%

Next Y EPS Growth 17.06%

Next Y revenue growth 14.54%

Next 5Y EPS Growth 16.15%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 95.62%

10-year low 10-year high

P/S against its own 10 years 37.19%

10-year low 10-year high

P/B against its own 10 years 4.74%

10-year low 10-year high

EV/Sales against its own 10 years 38.15%

10-year low 10-year high

EV/FCF against its own 10 years 46.85%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	221	383	124	26
Receivables	160	166	178	220
Inventory	18	22	—	—
Other	10	41	38	34
	426	613	369	315

	2023	2024	2025	Q'26
Payables	117	111	102	127
ST’ Debt	36	43	26	26
Other	42	54	53	50
	279	307	294	317

Compound Annual Growth %

	10y	5y	3y
Sales	12.89%	18.85%	19.18%
Cash Flow	16.68%	18.70%	14.92%
Earnings	0.00%	(38.72%)	(47.07%)
Book Value	0.00%	34.07%	46.60%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	457	544	—	—	—
’25	417	465	485	469	1,837
’24	341	377	412	427	1,557
’23	263	290	353	360	1,265
’22	234	284	295	272	1,085
’21	190	216	242	242	889
’20	183	189	203	200	775

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	62	99	—	—	—
’25	50	90	94	97	330
’24	8	72	92	110	281
’23	16	67	75	75	233
’22	25	68	60	65	217
’21	32	47	55	49	183
’20	15	48	49	28	140

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	13	27	—	—	—
’25	(5)	23	28	39	85
’24	(22)	28	41	33	79
’23	(1)	35	35	11	79
’22	12	26	27	22	87
’21	5	18	30	7	60
’20	(5)	16	24	(3)	32

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.09)	0.06	—	—	—
’25	(0.08)	0.08	0.16	(0.04)	0.12
’24	(0.07)	0.12	0.10	0.08	0.23
’23	0.07	0.10	0.31	(0.03)	0.46
’22	0.08	0.34	0.44	0.16	1.03
’21	0.08	0.23	0.31	0.18	0.80
’20	0.02	0.25	0.31	1.24	1.86

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	4.97	11.15	22.15	26.75	34.35	53.43	63.90	72.33	80.04	82.22	Analyst estimates 2026–2028 Powerpack
	High	13.41	23.20	34.48	47.72	63.58	89.84	92.75	95.78	114.88	121.24
People
People	Employees	2,000	2,000	2,300	2,500	2,500	2,900	3,200	4,200	5,100	5,600
	Revenue/emp, $m	0.28	0.30	0.29	0.30	0.31	0.31	0.34	0.30	0.31	0.33
Income, $m
Income, $m	Revenue	565	599	661	743	775	889	1,085	1,265	1,557	1,837
	Gross margin, %	32.40	32.39	31.39	31.57	33.43	34.50	33.36	34.20	34.03	33.77
	EBT	(6)	(37)	6	30	38	58	75	37	21	13
	EBT margin, %	(1.13)	(6.18)	0.91	4.01	4.94	6.53	6.91	2.93	1.35	0.71
	Net income	(7)	(22)	6	32	91	41	53	25	14	8
	Depreciation	75	74	83	82	93	106	128	174	238	310
Per share, $
Per share, $	Revenue	13.70	14.32	15.48	15.74	15.87	17.33	21.02	22.92	26.14	28.94
	Earnings	(0.17)	(0.52)	0.15	0.67	1.87	0.80	1.03	0.46	0.23	0.12
	Cash flow	1.95	2.57	2.83	2.47	2.87	3.56	4.21	4.22	4.72	5.20
	Capex	(1.28)	(1.53)	(1.70)	(2.17)	(2.20)	(2.39)	(2.53)	(2.79)	(3.39)	(3.86)
	Free cash flow	0.67	1.04	1.14	0.31	0.66	1.17	1.68	1.44	1.33	1.34
	Book value	(0.60)	(0.90)	(0.37)	2.60	7.42	8.23	9.64	18.52	26.03	24.72
	Shares, m	41	42	43	47	49	51	52	55	60	63
Valuation, ×
Valuation, ×	P/E	0.00	0.00	189.93	69.74	33.85	106.78	77.29	188.18	460.04	816.17
	P/S	0.93	1.62	1.84	2.92	3.90	4.93	3.75	3.69	4.05	3.38
	P/B	0.00	0.00	0.00	17.71	8.35	10.38	8.17	4.57	4.06	3.96
	EV/Sales	1.82	2.42	2.66	3.61	4.40	5.51	4.23	4.35	4.53	3.95
	EV/FCF	37.37	33.41	36.24	186.18	105.36	81.38	52.82	69.29	88.72	85.49
Cash, $m
Cash, $m	Operating cash flow	80	108	121	117	140	183	217	233	281	330
	Capex	(53)	(64)	(72)	(102)	(108)	(123)	(130)	(154)	(202)	(245)
	Free cash flow	28	43	48	14	32	60	87	79	79	85
Balance, $m
Balance, $m	Working capital	(4)	(4)	(14)	(28)	116	(6)	30	147	306	75
	Total debt	509	483	544	513	540	552	594	1,043	1,133	1,155
	Net debt	506	481	540	510	385	519	523	823	750	1,031
	Shareholders’ equity	(25)	(38)	(16)	123	362	422	498	1,022	1,551	1,569
Returns, %
Returns, %	ROA	(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
	ROE	29.68	69.86	(23.91)	59.21	37.58	10.48	11.53	3.34	1.05	0.50

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WM Waste Management, Inc.	$89.6B	32.0×	27.0×	+3.95% (above 0%: growing)	+8.89% (above 0%: growing)	+34.81% (above 0%: growing)	40.83%	18.75%	Compare
RSG Republic Services, Inc.	$70.3B	32.8×	28.9×	+4.60% (above 0%: growing)	+4.55% (above 0%: growing)	+8.20% (above 0%: growing)	42.14%	20.34%	Compare
WCN Waste Connections, Inc.	$41.7B	40.3×	33.5×	+6.42% (above 0%: growing)	+4.46% (above 0%: growing)	+6.63% (above 0%: growing)	42.25%	17.08%	Compare
GFL GFL Environmental Inc.	$19.0B	— (loss-making)	— (loss-making)	+16.16% (above 0%: growing)	n/m	+557.08% (above 0%: growing)	19.81%	5.58%	Compare
CLH Clean Harbors, Inc.	$16.9B	38.7×	33.3×	+11.95% (above 0%: growing)	+36.29% (above 0%: growing)	−4.89% (below 0%: shrinking)	35.09%	15.50%	Compare
CWST Casella Waste Systems, Inc.	$5.5B	978×	559×	+16.85% (above 0%: growing)	−25.00% (below 0%: shrinking)	+14.24% (above 0%: growing)	32.88%	3.67%
ONT Onterris, Inc.	$494.1M	— (loss-making)	123×	−20.42% (below 0%: shrinking)	−91.67% (below 0%: shrinking)	−96.15% (below 0%: shrinking)	44.07%	3.46%	Compare
PESI Perma-Fix Environmental Services, Inc.	$282.0M	— (loss-making)	— (loss-making)	−11.66% (below 0%: shrinking)	n/m	−156.46% (below 0%: shrinking)	(19.43%)	(50.50%)	Compare
ABAT American Battery Technology Company	$225.5M	— (loss-making)	— (loss-making)	+196.60% (above 0%: growing)	n/m	−32.23% (below 0%: shrinking)	15.66%	(246.50%)	Compare
Median of peers	$17.9B	35.7×	33.3×	+5.51%	+4.55%	+0.87%	37.96%	10.54%

All 20 Waste Management stocks →

Casella Waste Systems, Inc. (CWST) key facts

Strength: Casella Waste Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 18.0% from fiscal 2024.
Casella Waste Systems, Inc. (CWST) is a Waste Management company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, CWST traded at $88.00, a market capitalization of $5.5 billion.
Return on equity was 0.50% and debt-to-equity 0.85.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.74 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.