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) Operating margin
Waste Connections, Inc.'s operating margin over the twelve months to 30 September 2026 was 17.7%, down 0.3 percentage points from fiscal 2025 (18.1%). Over the past ten years it has ranged from −2.91% (fiscal 2015) to 18.1% (fiscal 2025) — the current reading is the highest in ten years. That is above the Waste Management industry median of 0.00% and above the Industrials sector median of 5.21%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 18.1% | 6.09 |
| FY2024 | 12.0% | (3.44) |
| FY2023 | 15.4% | (1.81) |
| FY2022 | 17.2% | 0.32 |
| FY2021 | 16.9% | 9.33 |
| FY2020 | 7.57% | (7.98) |
| FY2019 | 15.6% | (1.36) |
| FY2018 | 16.9% | 3.37 |
| FY2017 | 13.5% | 0.14 |
| FY2016 | 13.4% | 16.31 |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 20.5% | 3.46 |
| Jun 2026 | 17.1% | 1.72 |
| Mar 2026 | 15.4% | (2.37) |
| Dec 2025 | 17.7% | (0.15) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| RSG Republic Services, Inc. compare | 20.0% |
| WM Waste Management, Inc. compare | 18.4% |
| WCN Waste Connections, Inc. | 17.7% |
| CLH Clean Harbors, Inc. compare | 13.2% |
| GFL GFL Environmental Inc. compare | 7.39% |
| CWST Casella Waste Systems, Inc. compare | 3.38% |
| ONT Onterris, Inc. compare | 1.34% |
| OIO ESGL Holdings Limited compare | 0.00% |
| NVRI Enviri Corporation compare | −11.2% |
| Waste Management industry median | 0.00% |
| Industrials sector median | 5.21% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on WCN
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow 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