Saturday 17 October 2026
Export GFL’s income statement to Excel — free account
GFL Environmental Inc.
GFL Industrials Waste Management
GFL Environmental Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, down 17.5% from fiscal 2024. In the quarter to June 2026, revenue grew 16.2%, EPS fell 165.4%, free cash flow grew 557.1% and total debt rose 41.7%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
43.85
0.30
+0.69%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | 11.92 | 26.79 | 23.10 | 26.87 | 30.57 | 41.29 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | 29.24 | 43.71 | 38.05 | 39.06 | 48.87 | 52.00 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | 15,475 | 18,000 | 19,500 | 20,000 | 20,000 | 14,850 | ||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.20 | 0.24 | 0.27 | 0.28 | 0.29 | 0.32 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 692 | 1,066 | 1,363 | 2,575 | 3,132 | 4,409 | 5,201 | 5,567 | 5,738 | 4,735 | ||||
| Gross margin, % | 11.99 | 14.10 | 8.04 | 8.19 | 4.53 | 9.55 | 11.80 | 16.89 | 18.90 | 20.67 | |||||
| EBT | (150) | (112) | (459) | (468) | (1,012) | (569) | (276) | 142 | (690) | 162 | |||||
| EBT margin, % | (21.63) | (10.50) | (33.68) | (18.20) | (32.31) | (12.90) | (5.31) | 2.56 | (12.02) | 3.43 | |||||
| Net income | (113) | 0 | (355) | (348) | (743) | (484) | (239) | 24 | (538) | 2,729 | |||||
| Depreciation | 132 | 124 | 225 | 615 | 924 | 1,111 | 1,173 | 1,104 | 1,144 | 942 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 2.20 | 3.40 | 4.34 | 8.20 | 8.69 | 12.19 | 14.16 | 15.06 | 15.07 | 12.81 | ||||
| Earnings | (0.36) | (0.26) | (1.13) | (1.11) | (2.15) | (1.46) | (0.80) | (0.10) | (1.51) | 7.33 | |||||
| Cash flow | 0.19 | 0.28 | (0.08) | 0.56 | 1.04 | 1.98 | 2.30 | 1.96 | 2.95 | 2.55 | |||||
| Capex | 0.00 | 0.00 | 0.00 | 0.00 | (0.85) | (0.86) | (0.87) | (1.99) | (2.17) | (2.10) | |||||
| Free cash flow | 0.19 | 0.28 | (0.08) | 0.56 | 0.19 | 1.13 | 1.43 | (0.03) | 0.78 | 0.45 | |||||
| Book value | 0.00 | 0.00 | 7.48 | 6.78 | 11.76 | 12.75 | 12.66 | 14.80 | 13.84 | 14.50 | |||||
| Shares, m | 314 | 314 | 314 | 314 | 360 | 362 | 367 | 370 | 381 | 370 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6.31 | ||||
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 3.36 | 3.10 | 2.07 | 2.25 | 2.96 | 3.35 | |||||
| P/B | 0.00 | 0.00 | 0.00 | 0.00 | 2.48 | 2.97 | 2.32 | 2.29 | 3.22 | 2.96 | |||||
| EV/Sales | 0.00 | 0.00 | 0.00 | 0.00 | 4.86 | 4.56 | 3.48 | 3.45 | 4.27 | 4.54 | |||||
| EV/FCF | 0.00 | 0.00 | 0.00 | 0.00 | 226.69 | 49.37 | 34.58 | (2,012.82) | 82.22 | 128.96 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 60 | 89 | (25) | 177 | 375 | 716 | 843 | 726 | 1,124 | 942 | ||||
| Capex | (92) | (163) | (118) | (352) | (308) | (309) | (320) | (736) | (826) | (775) | |||||
| Free cash flow | 60 | 89 | (25) | 177 | 67 | 407 | 523 | (10) | 298 | 167 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | 0 | 427 | (123) | (21) | (1,007) | (241) | (1,062) | (597) | ||||
| Total debt | — | — | 4,624 | 6,014 | 4,718 | 6,572 | 7,380 | 6,830 | 7,646 | 5,635 | |||||
| Net debt | — | — | 4,619 | 5,572 | 4,697 | 6,420 | 7,317 | 6,730 | 7,548 | 5,574 | |||||
| Shareholders’ equity | — | — | 2,348 | 2,129 | 4,240 | 4,609 | 4,649 | 5,472 | 5,270 | 5,357 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 0.00 | 0.00 | (8.57) | (3.86) | (6.92) | (3.67) | (1.61) | (0.23) | (3.88) | 18.74 | ||||
| ROIC | — | — | 0.00 | 0.00 | (1.66) | (0.29) | 0.27 | 1.12 | 1.62 | 2.38 | |||||
| ROE | 0.00 | 0.00 | (15.87) | (15.53) | (23.32) | (10.94) | (5.18) | (0.69) | (10.91) | 51.64 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
GFL Environmental Inc. vs peers in Waste Management (Q) = latest quarter vs a year earlier
| 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% | |
| 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% | Compare |
| 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 | $11.2B | 38.7× | 33.4× | +5.51% | +4.51% | +0.87% | 37.96% | 9.59% |
GFL Environmental Inc. (GFL) key facts
- Concern: GFL Environmental Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, down 17.5% from fiscal 2024.
- GFL Environmental Inc. (GFL) is a Waste Management company in the Industrials sector, listed on the New York Stock Exchange.
- As of October 16, 2026, GFL traded at $43.85, a market capitalization of $19.0 billion.
- GFL Environmental Inc. pays an annual dividend of $0.07 per share, a yield of 0.15%.
- Return on equity was 51.6% and debt-to-equity 1.34.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.53 (distress zone) for fiscal 2025.