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Waste Connections, Inc. WCN.TO

CA · Toronto Stock Exchange · XTSE · stock · Industrials · website

Waste Connections, Inc. statistics & valuation

Market cap$58.1B
P / E53.9×
P / S6.1×
P / B7.0×
P / FCF47.6×
Dividend yield0.57%
Net margin11.4%
Return on equity13.1%
FCF margin12.9%
Net debt$9.1B
Enterprise value$50.8B
Earnings yield EBIT/EV2.7%
Return on capital9.6%
Graham number -76%$55.45

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($55.45); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
11.60% 9.50% 6.90% 11.40% 2022202320242025
Gross margin (%)
39.90% 40.90% 41.80% 42.40% 2022202320242025
Operating margin (%)
17.50% 18.40% 18.80% 19.20% 2022202320242025
Return on equity (%)
11.80% 9.90% 7.90% 13.10% 2022202320242025
Shares outstanding
251.6M 251.6M 251.6M 251.6M 2022202320242025
Net debt ($)
$7.02B $6.94B $8.33B $9.09B 2022202320242025
Share buybacks ($)
$425.0M $0 $0 $505.5M 2022202320242025
Return on assets (%)
4.90% 4.30% 3.10% 5.10% 2022202320242025
Free cash flow margin (%)
15.40% 14.90% 13.20% 12.90% 2022202320242025
Debt / equity (×)
1.00× 0.91× 1.07× 1.11× 2022202320242025
EPS ($)
$3.24 $2.95 $2.39 $4.17 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Waste Connections, Inc. trades at about 55.4× earnings — below its 10-year norm (10-year range 54.5×–111.7×, median 70.7×).

54.5× 111.7×

Shaded band = 10-year range (54.5×–111.7×); dot = today's 55.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin42.4%41.8%40.9%39.9%
Operating margin19.2%18.8%18.4%17.5%
Net margin11.4%6.9%9.5%11.6%
FCF margin12.9%13.2%14.9%15.4%
Return on assets5.1%3.1%4.3%4.9%
Return on equity13.1%7.9%9.9%11.8%
Debt / equity1.07×1.03×0.87×0.97×
Current ratio0.620.650.680.74

Computed from company filings · CA · as of 2025-12-31. Figures in USD. Facts plus Stocktoria's own computed scores — not investment advice.