Friday 6 November 2026 Export WCN’s income statement to Excel — free account

Waste Connections, Inc.

Waste Connections, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.5 billion, up 6.14% from fiscal 2024.

Revenue: +7.31%
EPS: +28.8%
Free cash flow: +2.74%
Total debt: +8.87%

Quarter to September 2026, against a year earlier

190.96 0.85 −0.44%

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Market cap: $48.0B
P/E: 42.7×
Fwd P/E: 39.5×
Dividend yield: 0.75%
F-score: 6/9
Altman Z: 3.11
Beneish M: −2.72
Dividend safety: 79/100

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Waste Connections, Inc. (WCN) Debt to equity

Alert me on Debt to equity

Waste Connections, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 1.2×, up 0.1× from fiscal 2025 (1.1×). Over the past ten years it has ranged from 0.6× (fiscal 2017) to 1.1× (fiscal 2015); the current reading is higher than 91% of that period. That is above the Waste Management industry median of 0.4× and above the Industrials sector median of 0.3×.

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<iframe src="https://stockrow.com/embed/WCN/debt-to-equity" width="100%" height="360" style="border:0" loading="lazy" title="Waste Connections, Inc. debt to equity, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/WCN/metrics/debt-to-equity">Waste Connections, Inc. (WCN) debt to equity — stockrow.com</a></p>

Period	Debt to equity	Change
FY2025	1.1×	3.93%
FY2024	1.0×	16.49%
FY2023	0.9×	(9.07%)
FY2022	1.0×	33.45%
FY2021	0.7×	5.36%
FY2020	0.7×	9.43%
FY2019	0.6×	(2.16%)
FY2018	0.7×	3.30%
FY2017	0.6×	(2.79%)
FY2016	0.6×	(41.21%)

Period	Debt to equity	Change
Sep 2026	1.2×	1.99%
Jun 2026	1.2×	3.83%
Mar 2026	1.1×	5.54%
Dec 2025	1.1×	0.01%
43 more quarters	Free account

Against its own ten years

Low 0.6× High 1.1×

Ten-year median 0.7×

Current reading's percentile 91

Company	Debt to equity
ONT Onterris, Inc. compare	0.0×
OIO ESGL Holdings Limited compare	0.3×
NVRI Enviri Corporation compare	0.6×
CWST Casella Waste Systems, Inc. compare	0.9×
CLH Clean Harbors, Inc. compare	0.9×
GFL GFL Environmental Inc. compare	1.0×
RSG Republic Services, Inc. compare	1.1×
WCN Waste Connections, Inc.	1.2×
WM Waste Management, Inc. compare	2.4×
Waste Management industry median	0.4×
Industrials sector median	0.3×
Market median	0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

Waste Connections, Inc. (WCN) Debt to equity

Debt to equity, annual

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Against its own ten years

Debt to equity against peers

What Debt to equity is

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Debt to equity, annual

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Against its own ten years

Debt to equity against peers

What Debt to equity is

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