Waste Connections, Inc. (WCN) is a publicly traded company in the Industrials — Waste Management industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Waste Connections, Inc. is a leading environmental services provider that delivers a full spectrum of non-hazardous waste management solutions, including collection, transfer, disposal, and resource recovery, across both the United States and Canada. The company offers essential waste collection services to a diverse customer base, spanning residential, commercial, municipal, industrial, and exploration and production (E&P) sectors.
Is Waste Connections, Inc. stock overvalued or undervalued in 2026?
Waste Connections, Inc. (WCN) trades at 40.3× earnings (P/E), against a median of 25.8× across the 297 industrials companies above $2bn in Kaplio's universe. No valuation verdict: we are reviewing its P/E because two ways of calculating it do not match.
Kaplio overview: Waste Connections, Inc.
Market cap $45B · 52 weeks $149 – $187 (3 % below the high) · P/E 40.3× · 2027 expected P/E 29.1× · Dividend 0.78 % · 11 years rising · Next earnings February 10, 2027 · expected EPS $1.41 · Closing price, Oct 28 · accounts published Oct 21.
- Valuation: P/E 40.3× (no verdict).
- Business: ROIC 7 % (weak).
- Balance sheet: Net debt/EBITDA 3.1× (watch).
- Earnings: 7 of 8 (on track).
What would it be worth at its usual multiples?
No valuation verdict: we are reviewing its P/E because two ways of calculating it do not match.
What matters in industrials: 6 of 10 pass
- ROIC 7.1 %, fails.
- Capex / Revenue 12.6 %, fails.
- P/E vs own 10y history 40.3×, fails.
- Net debt / EBITDA 3.1×, borderline.
- 5y revenue growth 12.4 %, passes.
- Operating margin 18.1 %, passes.
- FCF conversion 112.9 %, passes.
- Altman Z-Score 3.1, passes.
- Piotroski F-Score 6 de 9, passes.
- Cycle-adjusted EV/EBITDA 17.6×, passes.
Against its peers (reference peers) — Waste Connections, Inc.: P/E 40.3×; EV/EBITDA 17.6×; ROIC 7.1 %; $45.0B. Republic Services, Inc. (P/E 33.1×; EV/EBITDA 15.7×; ROIC 9.1 %; $71.5B), Waste Management, Inc. (P/E 31.9×; EV/EBITDA 12.8×; ROIC 9.1 %; $90.0B), Clean Harbors, Inc. (P/E 38.0×; EV/EBITDA 16.0×; ROIC 8.0 %; $16.5B).
Expensive or cheap against its last ten years?
P/E at each close: today 40.3× · median 35.7× · minimum 27.4× · maximum 46.9× · cheap below 34.0× · expensive above 39.5×. Earnings over the last 12 months are distorted: today's P/E compared with its history is not representative.
Dividend
solid · Yield 0.78 % ($1.30 per share in 2025) · Years raising it ≥ 11 · 5-year growth +11 % a year · Free cash flow coverage 4.0× · With $1,000 invested today you'd collect $7.80 a year ($0.65 a month).
Profitability
| Return on Equity | 14.18% |
| Return on Invested Capital | 7.11% |
| Return on Assets | 5.29% |
| Gross Margin | 39.37% |
| Operating Margin | 17.80% |
| Net Margin | 11.40% |
Financial Health
| Debt / Equity | 1.24 |
| Current Ratio | 0.67 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 3.08 |
Price Performance
| 1 month | +16.98% |
| 3 months | +8.72% |
| Year-to-date | +3.77% |
| 1 year | +8.04% |
| 3 years | +40.12% |
| 5 years | +33.79% |
| 10 years | +262.92% |
Dividend History
Paid in the last 12 months: $1.4000 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-11-05 | $0.3850 |
| 2026-08-06 | $0.3500 |
| 2026-05-06 | $0.3500 |
| 2026-02-25 | $0.3500 |
| 2025-11-05 | $0.3500 |
| 2025-08-06 | $0.3150 |
| 2025-05-07 | $0.3150 |
| 2025-02-27 | $0.3150 |
| 2024-11-07 | $0.3150 |
| 2024-08-07 | $0.2850 |
Amounts adjusted for stock splits.
Related companies: CWST · WM · RSG · CLH · GFL
Explore sector: Industrials · Waste Management
More sections of WCN: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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