stockrowWaste Connections, Inc.
WCN Industrials Waste Management
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
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Waste Connections, Inc. (WCN) Free cash flow margin
Waste Connections, Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 11.9%, down 1.1 percentage points from fiscal 2025 (13.0%). Over the past ten years it has ranged from 13.0% (fiscal 2025) to 17.7% (fiscal 2018) — the current reading is the lowest in ten years. That is above the Waste Management industry median of 0.00% and above the Industrials sector median of 2.06%.
Free cash flow margin, annual
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Annual newest first
| Period | Free cash flow margin | Change (points) |
|---|---|---|
| FY2025 | 13.0% | (0.25) |
| FY2024 | 13.2% | (2.02) |
| FY2023 | 15.3% | (0.55) |
| FY2022 | 15.8% | (0.39) |
| FY2021 | 16.2% | 2.19 |
| FY2020 | 14.0% | (2.28) |
| FY2019 | 16.3% | (1.39) |
| FY2018 | 17.7% | 1.78 |
| FY2017 | 15.9% | 2.42 |
| FY2016 | 13.5% | (2.63) |
Against its own ten years
Free cash flow margin against peers
| Company | Free cash flow margin |
|---|---|
| RSG Republic Services, Inc. compare | 14.9% |
| WM Waste Management, Inc. compare | 14.4% |
| WCN Waste Connections, Inc. | 11.9% |
| ONT Onterris, Inc. compare | 11.6% |
| CLH Clean Harbors, Inc. compare | 7.78% |
| CWST Casella Waste Systems, Inc. compare | 5.45% |
| GFL GFL Environmental Inc. compare | 4.15% |
| OIO ESGL Holdings Limited compare | 0.00% |
| NVRI Enviri Corporation compare | −16.2% |
| Waste Management industry median | 0.00% |
| Industrials sector median | 2.06% |
| Market median | 0.00% |
What Free cash flow margin is
Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.
(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue
More on WCN
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement