# Waste Management — company-by-company sector analysis

> Waste Management: Republic Services, Inc. owns the largest revenue base; American Battery Technology Company has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice.

## Bottom line

Waste Management has underperformed S&P 500 by 4.9% over 52 weeks and 0.2% over 13 weeks. 3 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 10 beat the sector itself. Republic Services, Inc. leads with revenue of $16,696 million, based on 6 of 12 comparable companies through Mar 2026.

## Sector relative strength

Waste Management has underperformed S&P 500 by 4.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 0.2%. 3 of 10 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Enviri Corporation is the strongest against the sector itself at +45.6%.

13-week sector return versus NIFTY 500: 0.2%
52-week sector return versus NIFTY 500: -4.9%
Stocks leading NIFTY: 3/10
Stocks leading sector: 3/10

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 12
Combined market value: ₹2.4 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Clean Harbors, Inc. (CLH): 58/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 20.6/35 | Capital efficiency 14.5/25 | Valuation 10.5/20 | Relative strength 12.7/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 20.6 + 14.5 + 10.5 + 12.7 = 58.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
2. Waste Management, Inc. (WM): 55/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 19.2/35 | Capital efficiency 15.3/25 | Valuation 10.8/20 | Relative strength 10.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 19.2 + 15.3 + 10.8 + 10 = 55.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. Waste Connections, Inc. (WCN): 50/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 15.9/35 | Capital efficiency 12.8/25 | Valuation 10.2/20 | Relative strength 10.6/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 15.9 + 12.8 + 10.2 + 10.6 = 49.5
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4. GFL Environmental Inc. (GFL): 46/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 18.2/35 | Capital efficiency 8.8/25 | Valuation 9.5/20 | Relative strength 9.1/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 18.2 + 8.8 + 9.5 + 9.1 = 45.6
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. Onterris, Inc. (ONT): 43/100 — Mixed-negative evidence; evidence 64%
   - Growth & earnings 20.9/35 | Capital efficiency 5.5/25 | Valuation 8.8/20 | Relative strength 8.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 20.9 + 5.5 + 8.8 + 8 = 43.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Enviri Corporation (NVRI): 42/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 9.4/35 | Capital efficiency 6.5/25 | Valuation 9.8/20 | Relative strength 16.6/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 2 weeks with a reading, within the last 12, ending 2026-05-29 (no longer priced)
   - Exact sum: 9.4 + 6.5 + 9.8 + 16.6 = 42.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. Casella Waste Systems, Inc. (CWST): 41/100 — Mixed-negative evidence; evidence 74%
   - Growth & earnings 20.0/35 | Capital efficiency 8.7/25 | Valuation 3.5/20 | Relative strength 8.9/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks
   - Exact sum: 20 + 8.7 + 3.5 + 8.9 = 41.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. Republic Services, Inc. (RSG): 40/100 — Mixed-negative evidence; evidence 81%
   - Growth & earnings 14.4/35 | Capital efficiency 15.1/25 | Valuation 6.2/20 | Relative strength 4.4/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 14.4 + 15.1 + 6.2 + 4.4 = 40.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9. Perma-Fix Environmental Services, Inc. (PESI): 38/100 — Thin evidence · provisional; evidence 58%
   - Growth & earnings 8.1/35 | Capital efficiency 4.2/25 | Valuation 9.2/20 | Relative strength 16.4/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks
   - Exact sum: 8.1 + 4.2 + 9.2 + 16.4 = 37.9
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10. American Battery Technology Company (ABAT): 34/100 — Thin evidence · provisional; evidence 55%
   - Growth & earnings 18.3/35 | Capital efficiency 3.0/25 | Valuation 10.0/20 | Relative strength 3.0/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 18.3 + 3 + 10 + 3 = 34.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11. Seahawk Recycling Holdings, Inc. (SEAH): 56/100 — Thin evidence · provisional; evidence 11%
   - Growth & earnings 17.5/35 | Capital efficiency 18.2/25 | Valuation 10.0/20 | Relative strength 10.0/20
   - Exact sum: 17.5 + 18.2 + 10 + 10 = 55.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12. One and one Green Technologies. Inc (YDDL): 52/100 — Thin evidence · provisional; evidence 18%
   - Growth & earnings 16.7/35 | Capital efficiency 13.9/25 | Valuation 11.5/20 | Relative strength 10.0/20
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 10 weeks with a reading, within the last 12
   - Exact sum: 16.7 + 13.9 + 11.5 + 10 = 52.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

Enviri Corporation has the strongest one-year price move in Waste Management at +154.6%. Perma-Fix Environmental Services, Inc. leads on Mansfield relative strength against the S&P 500 at +26.3%. 3 of 10 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

### Strongest one-year price performers
1. Enviri Corporation (NVRI): 155%
2. Perma-Fix Environmental Services, Inc. (PESI): 59%
3. Clean Harbors, Inc. (CLH): 31%
4. American Battery Technology Company (ABAT): 7.9%
5. Waste Management, Inc. (WM): -4.2%

### Strongest relative strength versus NIFTY 500
1. Perma-Fix Environmental Services, Inc. (PESI): 26%
2. Enviri Corporation (NVRI): 23%
3. Clean Harbors, Inc. (CLH): 5.0%
4. Waste Management, Inc. (WM): -9.5%
5. Waste Connections, Inc. (WCN): -11%

## Revenue Scale & Growth Durability

What the numbers say: Republic Services, Inc. is the scale leader at $16,696 million, 644.7% ahead of Enviri Corporation. American Battery Technology Company's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 1600% from a $17 million base, with 8 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Republic Services, Inc. is the scale benchmark; American Battery Technology Company is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Republic Services, Inc.'s growth falls below American Battery Technology Company's for two consecutive comparable reports while operating margin also compresses.

Evidence: Republic Services, Inc. · $16,696 million | 644.7% versus #2 · Enviri Corporation | 8/8 recent comparable periods | 6/12 companies · 185 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Republic Services, Inc. (RSG): ₹16.7K Cr
2. Enviri Corporation (NVRI): ₹2.2K Cr
3. Casella Waste Systems, Inc. (CWST): ₹1.9K Cr
4. Onterris, Inc. (ONT): ₹822 Cr
5. Perma-Fix Environmental Services, Inc. (PESI): ₹59 Cr

### Revenue growth — fastest growers
1. American Battery Technology Company (ABAT): 100%
2. Casella Waste Systems, Inc. (CWST): 15%
3. Onterris, Inc. (ONT): 14%
4. Republic Services, Inc. (RSG): 3.2%
5. Perma-Fix Environmental Services, Inc. (PESI): -1.7%

### 20-quarter Revenue history
- WM: Sep 2021 ₹4.7K Cr | Dec 2021 ₹4.7K Cr | Mar 2022 ₹4.7K Cr | Jun 2022 ₹5.0K Cr | Sep 2022 ₹5.1K Cr | Dec 2022 ₹4.9K Cr | Mar 2023 ₹4.9K Cr | Jun 2023 ₹5.1K Cr | Sep 2023 ₹5.2K Cr | Dec 2023 ₹5.2K Cr | Mar 2024 ₹5.2K Cr | Jun 2024 ₹5.4K Cr | Sep 2024 ₹5.6K Cr | Dec 2024 ₹5.9K Cr | Mar 2025 ₹6.0K Cr | Jun 2025 ₹6.4K Cr | Sep 2025 ₹6.4K Cr | Dec 2025 ₹6.3K Cr | Mar 2026 ₹6.2K Cr | Jun 2026 —
- RSG: Sep 2021 ₹2.9K Cr | Dec 2021 ₹3.0K Cr | Mar 2022 ₹3.0K Cr | Jun 2022 ₹3.4K Cr | Sep 2022 ₹3.6K Cr | Dec 2022 ₹3.5K Cr | Mar 2023 ₹3.6K Cr | Jun 2023 ₹3.7K Cr | Sep 2023 ₹3.8K Cr | Dec 2023 ₹3.8K Cr | Mar 2024 ₹3.9K Cr | Jun 2024 ₹4.0K Cr | Sep 2024 ₹4.1K Cr | Dec 2024 ₹4.0K Cr | Mar 2025 ₹4.0K Cr | Jun 2025 ₹4.2K Cr | Sep 2025 ₹4.2K Cr | Dec 2025 ₹4.1K Cr | Mar 2026 ₹4.1K Cr | Jun 2026 —
- WCN: Sep 2021 ₹1.6K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 ₹1.6K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.9K Cr | Jun 2023 ₹2.0K Cr | Sep 2023 ₹2.1K Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹2.2K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹2.2K Cr | Jun 2025 ₹2.4K Cr | Sep 2025 ₹2.5K Cr | Dec 2025 ₹2.4K Cr | Mar 2026 ₹2.4K Cr | Jun 2026 —
- CLH: Sep 2021 ₹951 Cr | Dec 2021 ₹1.1K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.6K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 —
- GFL: Sep 2021 ₹1.4K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.8K Cr | Dec 2022 ₹1.8K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.7K Cr | Sep 2025 ₹1.7K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹1.6K Cr | Jun 2026 —
- CWST: Sep 2021 ₹242 Cr | Dec 2021 ₹242 Cr | Mar 2022 ₹234 Cr | Jun 2022 ₹284 Cr | Sep 2022 ₹295 Cr | Dec 2022 ₹272 Cr | Mar 2023 ₹263 Cr | Jun 2023 ₹290 Cr | Sep 2023 ₹353 Cr | Dec 2023 ₹360 Cr | Mar 2024 ₹341 Cr | Jun 2024 ₹377 Cr | Sep 2024 ₹412 Cr | Dec 2024 ₹427 Cr | Mar 2025 ₹417 Cr | Jun 2025 ₹465 Cr | Sep 2025 ₹485 Cr | Dec 2025 ₹469 Cr | Mar 2026 ₹457 Cr | Jun 2026 —
- ONT: Sep 2021 ₹133 Cr | Dec 2021 ₹144 Cr | Mar 2022 ₹135 Cr | Jun 2022 ₹140 Cr | Sep 2022 ₹130 Cr | Dec 2022 ₹140 Cr | Mar 2023 ₹131 Cr | Jun 2023 ₹159 Cr | Sep 2023 ₹168 Cr | Dec 2023 ₹166 Cr | Mar 2024 ₹155 Cr | Jun 2024 ₹173 Cr | Sep 2024 ₹179 Cr | Dec 2024 ₹189 Cr | Mar 2025 ₹178 Cr | Jun 2025 ₹235 Cr | Sep 2025 ₹225 Cr | Dec 2025 ₹193 Cr | Mar 2026 ₹169 Cr | Jun 2026 —
- NVRI: Sep 2021 ₹470 Cr | Dec 2021 ₹462 Cr | Mar 2022 ₹453 Cr | Jun 2022 ₹481 Cr | Sep 2022 ₹487 Cr | Dec 2022 ₹468 Cr | Mar 2023 ₹561 Cr | Jun 2023 ₹609 Cr | Sep 2023 ₹597 Cr | Dec 2023 ₹599 Cr | Mar 2024 ₹600 Cr | Jun 2024 ₹610 Cr | Sep 2024 ₹574 Cr | Dec 2024 ₹559 Cr | Mar 2025 ₹548 Cr | Jun 2025 ₹562 Cr | Sep 2025 ₹575 Cr | Dec 2025 ₹555 Cr | Mar 2026 ₹550 Cr | Jun 2026 —
- PESI: Sep 2021 ₹16 Cr | Dec 2021 ₹17 Cr | Mar 2022 ₹16 Cr | Jun 2022 ₹19 Cr | Sep 2022 ₹17 Cr | Dec 2022 ₹17 Cr | Mar 2023 ₹20 Cr | Jun 2023 ₹25 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹14 Cr | Jun 2024 ₹14 Cr | Sep 2024 ₹17 Cr | Dec 2024 ₹15 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹15 Cr | Sep 2025 ₹17 Cr | Dec 2025 ₹16 Cr | Mar 2026 ₹11 Cr | Jun 2026 —
- ABAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹8 Cr | Jun 2026 —
- YDDL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹31 Cr | Sep 2023 — | Dec 2023 ₹10 Cr | Mar 2024 — | Jun 2024 ₹19 Cr | Sep 2024 — | Dec 2024 ₹35 Cr | Mar 2025 — | Jun 2025 ₹28 Cr | Sep 2025 — | Dec 2025 ₹38 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Revenue growth history
- WM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 12% | Sep 2022 8.8% | Dec 2022 5.5% | Mar 2023 5.0% | Jun 2023 1.8% | Sep 2023 2.4% | Dec 2023 5.7% | Mar 2024 5.5% | Jun 2024 5.5% | Sep 2024 7.9% | Dec 2024 13% | Mar 2025 17% | Jun 2025 19% | Sep 2025 15% | Dec 2025 7.1% | Mar 2026 3.5% | Jun 2026 —
- RSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 21% | Sep 2022 23% | Dec 2022 20% | Mar 2023 21% | Jun 2023 9.1% | Sep 2023 6.3% | Dec 2023 8.6% | Mar 2024 7.9% | Jun 2024 8.6% | Sep 2024 6.5% | Dec 2024 5.6% | Mar 2025 3.8% | Jun 2025 4.6% | Sep 2025 3.3% | Dec 2025 2.2% | Mar 2026 2.6% | Jun 2026 —
- WCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 18% | Sep 2022 18% | Dec 2022 15% | Mar 2023 15% | Jun 2023 11% | Sep 2023 9.8% | Dec 2023 8.9% | Mar 2024 9.1% | Jun 2024 11% | Sep 2024 13% | Dec 2024 11% | Mar 2025 7.5% | Jun 2025 7.1% | Sep 2025 5.1% | Dec 2025 5.0% | Mar 2026 6.4% | Jun 2026 —
- CLH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 46% | Sep 2022 43% | Dec 2022 14% | Mar 2023 12% | Jun 2023 3.1% | Sep 2023 0.2% | Dec 2023 4.7% | Mar 2024 5.4% | Jun 2024 11% | Sep 2024 12% | Dec 2024 7.0% | Mar 2025 4.0% | Jun 2025 -0.2% | Sep 2025 1.3% | Dec 2025 4.8% | Mar 2026 2.0% | Jun 2026 —
- GFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 40% | Sep 2022 33% | Dec 2022 26% | Mar 2023 28% | Jun 2023 14% | Sep 2023 3.2% | Dec 2023 3.4% | Mar 2024 -20% | Jun 2024 -19% | Sep 2024 -18% | Dec 2024 -17% | Mar 2025 8.9% | Jun 2025 5.9% | Sep 2025 9.0% | Dec 2025 7.3% | Mar 2026 5.4% | Jun 2026 —
- CWST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 31% | Sep 2022 22% | Dec 2022 12% | Mar 2023 12% | Jun 2023 2.1% | Sep 2023 20% | Dec 2023 32% | Mar 2024 30% | Jun 2024 30% | Sep 2024 17% | Dec 2024 19% | Mar 2025 22% | Jun 2025 23% | Sep 2025 18% | Dec 2025 9.8% | Mar 2026 9.6% | Jun 2026 —
- ONT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 2.9% | Sep 2022 -2.3% | Dec 2022 -2.8% | Mar 2023 -3.0% | Jun 2023 14% | Sep 2023 29% | Dec 2023 19% | Mar 2024 18% | Jun 2024 8.8% | Sep 2024 6.6% | Dec 2024 14% | Mar 2025 15% | Jun 2025 36% | Sep 2025 26% | Dec 2025 2.1% | Mar 2026 -5.1% | Jun 2026 —
- NVRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 2.6% | Sep 2022 3.6% | Dec 2022 1.3% | Mar 2023 24% | Jun 2023 27% | Sep 2023 23% | Dec 2023 28% | Mar 2024 7.0% | Jun 2024 0.2% | Sep 2024 -3.9% | Dec 2024 -6.7% | Mar 2025 -8.7% | Jun 2025 -7.9% | Sep 2025 0.2% | Dec 2025 -0.7% | Mar 2026 0.4% | Jun 2026 —
- PESI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 19% | Sep 2022 6.3% | Dec 2022 0.0% | Mar 2023 25% | Jun 2023 32% | Sep 2023 0.0% | Dec 2023 35% | Mar 2024 -30% | Jun 2024 -44% | Sep 2024 0.0% | Dec 2024 -35% | Mar 2025 0.0% | Jun 2025 7.1% | Sep 2025 0.0% | Dec 2025 6.7% | Mar 2026 -21% | Jun 2026 —
- ABAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 700% | Jun 2026 —
- YDDL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -39% | Sep 2024 — | Dec 2024 250% | Mar 2025 — | Jun 2025 47% | Sep 2025 — | Dec 2025 8.6% | Mar 2026 — | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Republic Services, Inc. leads opm at 20.2%; American Battery Technology Company leads margin change at +645.8 percentage points.

Investor read: Republic Services, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Republic Services, Inc. · 20.2% | 12.8% versus #2 · Waste Management, Inc. | 6/8 recent comparable periods | 10/12 companies · 174 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Republic Services, Inc. (RSG): 20%
2. Waste Management, Inc. (WM): 18%
3. Waste Connections, Inc. (WCN): 15%
4. Clean Harbors, Inc. (CLH): 8.1%
5. GFL Environmental Inc. (GFL): 2.3%

### Margin change — fastest expanders
1. American Battery Technology Company (ABAT): +645.8 pp
2. GFL Environmental Inc. (GFL): +2.4 pp
3. Onterris, Inc. (ONT): +2.3 pp
4. Waste Management, Inc. (WM): +1.1 pp
5. Clean Harbors, Inc. (CLH): +0.3 pp

### 20-quarter OPM history
- WM: Sep 2021 17% | Dec 2021 15% | Mar 2022 17% | Jun 2022 18% | Sep 2022 19% | Dec 2022 16% | Mar 2023 17% | Jun 2023 18% | Sep 2023 20% | Dec 2023 15% | Mar 2024 20% | Jun 2024 19% | Sep 2024 20% | Dec 2024 16% | Mar 2025 17% | Jun 2025 18% | Sep 2025 15% | Dec 2025 18% | Mar 2026 18% | Jun 2026 —
- RSG: Sep 2021 19% | Dec 2021 17% | Mar 2022 19% | Jun 2022 17% | Sep 2022 19% | Dec 2022 16% | Mar 2023 18% | Jun 2023 19% | Sep 2023 19% | Dec 2023 18% | Mar 2024 19% | Jun 2024 20% | Sep 2024 21% | Dec 2024 20% | Mar 2025 20% | Jun 2025 20% | Sep 2025 20% | Dec 2025 19% | Mar 2026 20% | Jun 2026 —
- WCN: Sep 2021 18% | Dec 2021 15% | Mar 2022 17% | Jun 2022 18% | Sep 2022 17% | Dec 2022 17% | Mar 2023 17% | Jun 2023 17% | Sep 2023 17% | Dec 2023 11% | Mar 2024 18% | Jun 2024 19% | Sep 2024 20% | Dec 2024 -8.8% | Mar 2025 18% | Jun 2025 19% | Sep 2025 18% | Dec 2025 18% | Mar 2026 15% | Jun 2026 —
- CLH: Sep 2021 11% | Dec 2021 7.3% | Mar 2022 7.4% | Jun 2022 16% | Sep 2022 15% | Dec 2022 10% | Mar 2023 9.3% | Jun 2023 14% | Sep 2023 11% | Dec 2023 11% | Mar 2024 9.1% | Jun 2024 14% | Sep 2024 13% | Dec 2024 9.6% | Mar 2025 7.8% | Jun 2025 14% | Sep 2025 13% | Dec 2025 11% | Mar 2026 8.1% | Jun 2026 —
- GFL: Sep 2021 2.2% | Dec 2021 -4.6% | Mar 2022 -1.8% | Jun 2022 2.9% | Sep 2022 3.1% | Dec 2022 -1.1% | Mar 2023 1.7% | Jun 2023 6.4% | Sep 2023 7.2% | Dec 2023 1.0% | Mar 2024 0.9% | Jun 2024 5.1% | Sep 2024 6.4% | Dec 2024 4.6% | Mar 2025 -0.1% | Jun 2025 9.0% | Sep 2025 9.6% | Dec 2025 11% | Mar 2026 2.3% | Jun 2026 —
- CWST: Sep 2021 11% | Dec 2021 6.7% | Mar 2022 4.3% | Jun 2022 11% | Sep 2022 12% | Dec 2022 6.3% | Mar 2023 3.9% | Jun 2023 7.8% | Sep 2023 9.7% | Dec 2023 3.7% | Mar 2024 2.0% | Jun 2024 6.1% | Sep 2024 5.9% | Dec 2024 4.3% | Mar 2025 0.8% | Jun 2025 4.1% | Sep 2025 6.1% | Dec 2025 2.5% | Mar 2026 1.1% | Jun 2026 —
- ONT: Sep 2021 4.0% | Dec 2021 0.4% | Mar 2022 -5.7% | Jun 2022 -4.1% | Sep 2022 -4.9% | Dec 2022 -5.9% | Mar 2023 -7.6% | Jun 2023 -3.8% | Sep 2023 -2.0% | Dec 2023 -5.4% | Mar 2024 -6.5% | Jun 2024 -1.5% | Sep 2024 -0.6% | Dec 2024 -12% | Mar 2025 -5.9% | Jun 2025 6.4% | Sep 2025 4.4% | Dec 2025 -1.3% | Mar 2026 -3.6% | Jun 2026 —
- NVRI: Sep 2021 5.7% | Dec 2021 3.5% | Mar 2022 1.7% | Jun 2022 -20% | Sep 2022 6.2% | Dec 2022 0.4% | Mar 2023 5.7% | Jun 2023 5.5% | Sep 2023 4.8% | Dec 2023 -1.1% | Mar 2024 4.3% | Jun 2024 5.1% | Sep 2024 6.5% | Dec 2024 -11% | Mar 2025 5.3% | Jun 2025 -1.3% | Sep 2025 2.9% | Dec 2025 -6.4% | Mar 2026 0.1% | Jun 2026 —
- PESI: Sep 2021 -8.7% | Dec 2021 -13% | Mar 2022 -12% | Jun 2022 -4.5% | Sep 2022 -16% | Dec 2022 -10% | Mar 2023 -2.9% | Jun 2023 3.4% | Sep 2023 -11% | Dec 2023 1.1% | Mar 2024 -33% | Jun 2024 -36% | Sep 2024 -16% | Dec 2024 -24% | Mar 2025 -27% | Jun 2025 -20% | Sep 2025 -11% | Dec 2025 -21% | Mar 2026 -67% | Jun 2026 —
- ABAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -280% | Sep 2025 — | Dec 2025 -208% | Mar 2026 -441% | Jun 2026 —

### 20-quarter Margin change history
- WM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.0 pp | Sep 2022 +1.3 pp | Dec 2022 +0.2 pp | Mar 2023 +0.4 pp | Jun 2023 +0.7 pp | Sep 2023 +1.0 pp | Dec 2023 −0.5 pp | Mar 2024 +2.8 pp | Jun 2024 +0.3 pp | Sep 2024 +0.4 pp | Dec 2024 +0.6 pp | Mar 2025 −2.9 pp | Jun 2025 −0.8 pp | Sep 2025 −4.7 pp | Dec 2025 +2.7 pp | Mar 2026 +1.1 pp | Jun 2026 —
- RSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.1 pp | Sep 2022 −0.7 pp | Dec 2022 −0.6 pp | Mar 2023 −0.9 pp | Jun 2023 +1.7 pp | Sep 2023 +0.5 pp | Dec 2023 +1.9 pp | Mar 2024 +1.0 pp | Jun 2024 +1.1 pp | Sep 2024 +1.8 pp | Dec 2024 +1.5 pp | Mar 2025 +1.1 pp | Jun 2025 +0.2 pp | Sep 2025 −1.0 pp | Dec 2025 −0.5 pp | Mar 2026 +0.1 pp | Jun 2026 —
- WCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +0.7 pp | Sep 2022 −0.5 pp | Dec 2022 +1.4 pp | Mar 2023 0.0 pp | Jun 2023 −1.1 pp | Sep 2023 −0.3 pp | Dec 2023 −5.7 pp | Mar 2024 +1.1 pp | Jun 2024 +1.9 pp | Sep 2024 +3.2 pp | Dec 2024 −19.8 pp | Mar 2025 −0.2 pp | Jun 2025 +0.2 pp | Sep 2025 −2.4 pp | Dec 2025 +26.5 pp | Mar 2026 −2.1 pp | Jun 2026 —
- CLH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +3.7 pp | Sep 2022 +4.3 pp | Dec 2022 +2.7 pp | Mar 2023 +1.9 pp | Jun 2023 −2.0 pp | Sep 2023 −4.0 pp | Dec 2023 +1.0 pp | Mar 2024 −0.2 pp | Jun 2024 +0.3 pp | Sep 2024 +1.3 pp | Dec 2024 −1.4 pp | Mar 2025 −1.3 pp | Jun 2025 −0.3 pp | Sep 2025 −0.1 pp | Dec 2025 +1.0 pp | Mar 2026 +0.3 pp | Jun 2026 —
- GFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +4.4 pp | Sep 2022 +0.9 pp | Dec 2022 +3.5 pp | Mar 2023 +3.5 pp | Jun 2023 +3.5 pp | Sep 2023 +4.1 pp | Dec 2023 +2.1 pp | Mar 2024 −0.8 pp | Jun 2024 −1.3 pp | Sep 2024 −0.8 pp | Dec 2024 +3.6 pp | Mar 2025 −1.0 pp | Jun 2025 +3.9 pp | Sep 2025 +3.2 pp | Dec 2025 +6.0 pp | Mar 2026 +2.4 pp | Jun 2026 —
- CWST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1.0 pp | Sep 2022 +1.0 pp | Dec 2022 −0.4 pp | Mar 2023 −0.4 pp | Jun 2023 −3.4 pp | Sep 2023 −2.6 pp | Dec 2023 −2.6 pp | Mar 2024 −1.9 pp | Jun 2024 −1.7 pp | Sep 2024 −3.8 pp | Dec 2024 +0.6 pp | Mar 2025 −1.2 pp | Jun 2025 −2.0 pp | Sep 2025 +0.2 pp | Dec 2025 −1.8 pp | Mar 2026 +0.3 pp | Jun 2026 —
- ONT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +0.4 pp | Sep 2022 −8.9 pp | Dec 2022 −6.3 pp | Mar 2023 −1.9 pp | Jun 2023 +0.3 pp | Sep 2023 +2.9 pp | Dec 2023 +0.5 pp | Mar 2024 +1.1 pp | Jun 2024 +2.3 pp | Sep 2024 +1.4 pp | Dec 2024 −6.7 pp | Mar 2025 +0.6 pp | Jun 2025 +7.9 pp | Sep 2025 +5.0 pp | Dec 2025 +10.8 pp | Mar 2026 +2.3 pp | Jun 2026 —
- NVRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −25.8 pp | Sep 2022 +0.5 pp | Dec 2022 −3.1 pp | Mar 2023 +4.0 pp | Jun 2023 +25.7 pp | Sep 2023 −1.4 pp | Dec 2023 −1.5 pp | Mar 2024 −1.4 pp | Jun 2024 −0.4 pp | Sep 2024 +1.7 pp | Dec 2024 −10.1 pp | Mar 2025 +1.0 pp | Jun 2025 −6.4 pp | Sep 2025 −3.6 pp | Dec 2025 +4.8 pp | Mar 2026 −5.2 pp | Jun 2026 —
- PESI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +9.0 pp | Sep 2022 −6.8 pp | Dec 2022 +3.0 pp | Mar 2023 +8.9 pp | Jun 2023 +7.9 pp | Sep 2023 +4.8 pp | Dec 2023 +11.1 pp | Mar 2024 −29.9 pp | Jun 2024 −39.4 pp | Sep 2024 −4.8 pp | Dec 2024 −25.2 pp | Mar 2025 +6.0 pp | Jun 2025 +16.2 pp | Sep 2025 +4.8 pp | Dec 2025 +3.5 pp | Mar 2026 −40.5 pp | Jun 2026 —
- ABAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 +6,222.3 pp | Sep 2025 +3,773.2 pp | Dec 2025 +3,943.9 pp | Mar 2026 +645.8 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Republic Services, Inc. leads with $2,170 million of TTM profit, 362× the profit of Casella Waste Systems, Inc.. Republic Services, Inc. shows 4% growth from a $2,170 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Republic Services, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Republic Services, Inc. · $2,170 million | 362× versus #2 · Casella Waste Systems, Inc. | 7/8 recent comparable periods | 6/12 companies · 196 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Republic Services, Inc. (RSG): ₹2.2K Cr
2. Casella Waste Systems, Inc. (CWST): ₹6 Cr
3. Onterris, Inc. (ONT): ₹5 Cr
4. Perma-Fix Environmental Services, Inc. (PESI): ₹-15 Cr
5. American Battery Technology Company (ABAT): ₹-62 Cr

### Profit growth — fastest growers
1. Republic Services, Inc. (RSG): 4.0%

### 20-quarter Net profit history
- WM: Sep 2021 ₹539 Cr | Dec 2021 ₹506 Cr | Mar 2022 ₹514 Cr | Jun 2022 ₹587 Cr | Sep 2022 ₹639 Cr | Dec 2022 ₹500 Cr | Mar 2023 ₹532 Cr | Jun 2023 ₹613 Cr | Sep 2023 ₹662 Cr | Dec 2023 ₹469 Cr | Mar 2024 ₹707 Cr | Jun 2024 ₹680 Cr | Sep 2024 ₹760 Cr | Dec 2024 ₹598 Cr | Mar 2025 ₹637 Cr | Jun 2025 ₹727 Cr | Sep 2025 ₹603 Cr | Dec 2025 ₹742 Cr | Mar 2026 ₹723 Cr | Jun 2026 —
- RSG: Sep 2021 ₹351 Cr | Dec 2021 ₹313 Cr | Mar 2022 ₹352 Cr | Jun 2022 ₹372 Cr | Sep 2022 ₹417 Cr | Dec 2022 ₹347 Cr | Mar 2023 ₹384 Cr | Jun 2023 ₹428 Cr | Sep 2023 ₹480 Cr | Dec 2023 ₹439 Cr | Mar 2024 ₹454 Cr | Jun 2024 ₹512 Cr | Sep 2024 ₹566 Cr | Dec 2024 ₹513 Cr | Mar 2025 ₹495 Cr | Jun 2025 ₹550 Cr | Sep 2025 ₹550 Cr | Dec 2025 ₹545 Cr | Mar 2026 ₹525 Cr | Jun 2026 —
- WCN: Sep 2021 ₹115 Cr | Dec 2021 ₹166 Cr | Mar 2022 ₹180 Cr | Jun 2022 ₹224 Cr | Sep 2022 ₹237 Cr | Dec 2022 ₹194 Cr | Mar 2023 ₹198 Cr | Jun 2023 ₹209 Cr | Sep 2023 ₹229 Cr | Dec 2023 ₹127 Cr | Mar 2024 ₹229 Cr | Jun 2024 ₹275 Cr | Sep 2024 ₹308 Cr | Dec 2024 ₹-196 Cr | Mar 2025 ₹242 Cr | Jun 2025 ₹290 Cr | Sep 2025 ₹286 Cr | Dec 2025 ₹259 Cr | Mar 2026 ₹219 Cr | Jun 2026 —
- CLH: Sep 2021 ₹65 Cr | Dec 2021 ₹49 Cr | Mar 2022 ₹45 Cr | Jun 2022 ₹148 Cr | Sep 2022 ₹136 Cr | Dec 2022 ₹82 Cr | Mar 2023 ₹72 Cr | Jun 2023 ₹116 Cr | Sep 2023 ₹91 Cr | Dec 2023 ₹98 Cr | Mar 2024 ₹70 Cr | Jun 2024 ₹133 Cr | Sep 2024 ₹115 Cr | Dec 2024 ₹84 Cr | Mar 2025 ₹59 Cr | Jun 2025 ₹127 Cr | Sep 2025 ₹119 Cr | Dec 2025 ₹87 Cr | Mar 2026 ₹63 Cr | Jun 2026 —
- GFL: Sep 2021 ₹-316 Cr | Dec 2021 ₹-82 Cr | Mar 2022 ₹137 Cr | Jun 2022 ₹83 Cr | Sep 2022 ₹-184 Cr | Dec 2022 ₹-219 Cr | Mar 2023 ₹-176 Cr | Jun 2023 ₹294 Cr | Sep 2023 ₹18 Cr | Dec 2023 ₹-62 Cr | Mar 2024 ₹-196 Cr | Jun 2024 ₹-532 Cr | Sep 2024 ₹42 Cr | Dec 2024 ₹-211 Cr | Mar 2025 ₹-214 Cr | Jun 2025 ₹274 Cr | Sep 2025 ₹108 Cr | Dec 2025 ₹73 Cr | Mar 2026 ₹-219 Cr | Jun 2026 —
- CWST: Sep 2021 ₹16 Cr | Dec 2021 ₹9 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹18 Cr | Sep 2022 ₹23 Cr | Dec 2022 ₹8 Cr | Mar 2023 ₹4 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹18 Cr | Dec 2023 ₹-2 Cr | Mar 2024 ₹-4 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹6 Cr | Dec 2024 ₹5 Cr | Mar 2025 ₹-5 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹10 Cr | Dec 2025 ₹-3 Cr | Mar 2026 ₹-6 Cr | Jun 2026 —
- ONT: Sep 2021 ₹2 Cr | Dec 2021 ₹-1 Cr | Mar 2022 ₹-8 Cr | Jun 2022 ₹-8 Cr | Sep 2022 ₹-6 Cr | Dec 2022 ₹-11 Cr | Mar 2023 ₹-15 Cr | Jun 2023 ₹-7 Cr | Sep 2023 ₹-8 Cr | Dec 2023 ₹-1 Cr | Mar 2024 ₹-13 Cr | Jun 2024 ₹-10 Cr | Sep 2024 ₹-11 Cr | Dec 2024 ₹-28 Cr | Mar 2025 ₹-19 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹8 Cr | Dec 2025 ₹-8 Cr | Mar 2026 ₹-13 Cr | Jun 2026 —
- NVRI: Sep 2021 ₹8 Cr | Dec 2021 ₹11 Cr | Mar 2022 ₹-6 Cr | Jun 2022 ₹-105 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹-23 Cr | Mar 2023 ₹-7 Cr | Jun 2023 ₹-15 Cr | Sep 2023 ₹-9 Cr | Dec 2023 ₹-50 Cr | Mar 2024 ₹-15 Cr | Jun 2024 ₹-10 Cr | Sep 2024 ₹-11 Cr | Dec 2024 ₹-83 Cr | Mar 2025 ₹-7 Cr | Jun 2025 ₹-46 Cr | Sep 2025 ₹-20 Cr | Dec 2025 ₹-83 Cr | Mar 2026 ₹-8 Cr | Jun 2026 —
- PESI: Sep 2021 ₹1 Cr | Dec 2021 ₹-2 Cr | Mar 2022 ₹-1 Cr | Jun 2022 ₹-1 Cr | Sep 2022 ₹-9 Cr | Dec 2022 ₹-1 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹-2 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹-3 Cr | Jun 2024 ₹-4 Cr | Sep 2024 ₹-9 Cr | Dec 2024 ₹-3 Cr | Mar 2025 ₹-4 Cr | Jun 2025 ₹-3 Cr | Sep 2025 ₹-2 Cr | Dec 2025 ₹-3 Cr | Mar 2026 ₹-7 Cr | Jun 2026 —
- ABAT: Sep 2021 ₹-20 Cr | Dec 2021 ₹-4 Cr | Mar 2022 ₹-3 Cr | Jun 2022 ₹-7 Cr | Sep 2022 ₹-2 Cr | Dec 2022 ₹-6 Cr | Mar 2023 ₹-6 Cr | Jun 2023 ₹-7 Cr | Sep 2023 ₹-9 Cr | Dec 2023 ₹-10 Cr | Mar 2024 ₹-10 Cr | Jun 2024 ₹-23 Cr | Sep 2024 ₹-12 Cr | Dec 2024 ₹-13 Cr | Mar 2025 ₹-11 Cr | Jun 2025 ₹-9 Cr | Sep 2025 ₹-10 Cr | Dec 2025 ₹-9 Cr | Mar 2026 ₹-34 Cr | Jun 2026 —
- YDDL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹5 Cr | Sep 2023 — | Dec 2023 ₹0 Cr | Mar 2024 — | Jun 2024 ₹2 Cr | Sep 2024 — | Dec 2024 ₹4 Cr | Mar 2025 — | Jun 2025 ₹4 Cr | Sep 2025 — | Dec 2025 ₹8 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Profit growth history
- WM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 67% | Sep 2022 19% | Dec 2022 -1.2% | Mar 2023 3.5% | Jun 2023 4.4% | Sep 2023 3.6% | Dec 2023 -6.2% | Mar 2024 33% | Jun 2024 11% | Sep 2024 15% | Dec 2024 28% | Mar 2025 -9.9% | Jun 2025 6.9% | Sep 2025 -21% | Dec 2025 24% | Mar 2026 14% | Jun 2026 —
- RSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 12% | Sep 2022 19% | Dec 2022 11% | Mar 2023 9.1% | Jun 2023 15% | Sep 2023 15% | Dec 2023 27% | Mar 2024 18% | Jun 2024 20% | Sep 2024 18% | Dec 2024 17% | Mar 2025 9.0% | Jun 2025 7.4% | Sep 2025 -2.8% | Dec 2025 6.2% | Mar 2026 6.1% | Jun 2026 —
- WCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 27% | Sep 2022 106% | Dec 2022 17% | Mar 2023 10% | Jun 2023 -6.7% | Sep 2023 -3.4% | Dec 2023 -35% | Mar 2024 16% | Jun 2024 32% | Sep 2024 35% | Dec 2024 -254% | Mar 2025 5.7% | Jun 2025 5.5% | Sep 2025 -7.1% | Dec 2025 — | Mar 2026 -9.5% | Jun 2026 —
- CLH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 121% | Sep 2022 109% | Dec 2022 67% | Mar 2023 60% | Jun 2023 -22% | Sep 2023 -33% | Dec 2023 20% | Mar 2024 -2.8% | Jun 2024 15% | Sep 2024 26% | Dec 2024 -14% | Mar 2025 -16% | Jun 2025 -4.5% | Sep 2025 3.5% | Dec 2025 3.6% | Mar 2026 6.8% | Jun 2026 —
- GFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 51% | Sep 2022 — | Dec 2022 — | Mar 2023 -228% | Jun 2023 254% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -281% | Sep 2024 133% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 157% | Dec 2025 — | Mar 2026 — | Jun 2026 —
- CWST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 50% | Sep 2022 44% | Dec 2022 -11% | Mar 2023 0.0% | Jun 2023 -72% | Sep 2023 -22% | Dec 2023 -125% | Mar 2024 -200% | Jun 2024 40% | Sep 2024 -67% | Dec 2024 — | Mar 2025 — | Jun 2025 -29% | Sep 2025 67% | Dec 2025 -160% | Mar 2026 — | Jun 2026 —
- ONT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -400% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- NVRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -1,150% | Sep 2022 -75% | Dec 2022 -309% | Mar 2023 — | Jun 2023 — | Sep 2023 -550% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- PESI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -133% | Sep 2022 -1,000% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -500% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- YDDL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -60% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 100% | Sep 2025 — | Dec 2025 100% | Mar 2026 — | Jun 2026 —

## Return On Capital Employed

What the numbers say: Seahawk Recycling Holdings, Inc. leads ROCE at 29.8%, 20.5 percentage points above One and one Green Technologies. Inc. Seahawk Recycling Holdings, Inc. has the strongest latest improvement at +37 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Seahawk Recycling Holdings, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Seahawk Recycling Holdings, Inc. · 29.8% | 220.4% versus #2 · One and one Green Technologies. Inc | Not enough history | 12/12 companies · 206 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Seahawk Recycling Holdings, Inc. (SEAH): 30%
2. One and one Green Technologies. Inc (YDDL): 9.3% — older report
3. Clean Harbors, Inc. (CLH): 4.1%
4. Waste Management, Inc. (WM): 3.1%
5. Republic Services, Inc. (RSG): 2.7%

### ROCE change — fastest improvers
1. Seahawk Recycling Holdings, Inc. (SEAH): +37.0 pp
2. Clean Harbors, Inc. (CLH): +0.7 pp
3. Onterris, Inc. (ONT): +0.6 pp
4. Casella Waste Systems, Inc. (CWST): +0.1 pp
5. Republic Services, Inc. (RSG): −0.1 pp

### 20-quarter ROCE history
- WM: Sep 2021 3.5% | Dec 2021 2.8% | Mar 2022 3.0% | Jun 2022 3.4% | Sep 2022 3.7% | Dec 2022 2.9% | Mar 2023 3.1% | Jun 2023 3.5% | Sep 2023 3.8% | Dec 2023 2.8% | Mar 2024 3.6% | Jun 2024 3.5% | Sep 2024 3.9% | Dec 2024 2.7% | Mar 2025 3.0% | Jun 2025 3.3% | Sep 2025 2.8% | Dec 2025 2.9% | Mar 2026 2.8% | Jun 2026 3.1%
- RSG: Sep 2021 2.6% | Dec 2021 2.3% | Mar 2022 2.6% | Jun 2022 2.5% | Sep 2022 2.8% | Dec 2022 2.4% | Mar 2023 2.6% | Jun 2023 2.7% | Sep 2023 2.8% | Dec 2023 2.7% | Mar 2024 2.8% | Jun 2024 3.0% | Sep 2024 3.1% | Dec 2024 2.9% | Mar 2025 2.8% | Jun 2025 3.0% | Sep 2025 2.9% | Dec 2025 2.7% | Mar 2026 2.7% | Jun 2026 —
- WCN: Sep 2021 2.2% | Dec 2021 1.9% | Mar 2022 2.0% | Jun 2022 2.4% | Sep 2022 2.3% | Dec 2022 2.1% | Mar 2023 2.1% | Jun 2023 2.3% | Sep 2023 2.3% | Dec 2023 1.4% | Mar 2024 2.2% | Jun 2024 2.5% | Sep 2024 2.8% | Dec 2024 -1.2% | Mar 2025 2.2% | Jun 2025 2.5% | Sep 2025 2.4% | Dec 2025 2.3% | Mar 2026 1.9% | Jun 2026 2.3%
- CLH: Sep 2021 3.0% | Dec 2021 2.0% | Mar 2022 2.1% | Jun 2022 5.0% | Sep 2022 4.8% | Dec 2022 2.6% | Mar 2023 2.4% | Jun 2023 3.8% | Sep 2023 3.0% | Dec 2023 2.8% | Mar 2024 2.3% | Jun 2024 3.8% | Sep 2024 3.4% | Dec 2024 2.4% | Mar 2025 1.8% | Jun 2025 3.4% | Sep 2025 3.0% | Dec 2025 2.5% | Mar 2026 1.9% | Jun 2026 4.1%
- GFL: Sep 2021 0.2% | Dec 2021 -0.4% | Mar 2022 -0.2% | Jun 2022 0.3% | Sep 2022 0.3% | Dec 2022 -0.1% | Mar 2023 0.2% | Jun 2023 0.8% | Sep 2023 0.8% | Dec 2023 0.1% | Mar 2024 0.1% | Jun 2024 0.5% | Sep 2024 0.6% | Dec 2024 0.4% | Mar 2025 0.0% | Jun 2025 0.9% | Sep 2025 0.9% | Dec 2025 1.0% | Mar 2026 0.2% | Jun 2026 0.6%
- CWST: Sep 2021 2.8% | Dec 2021 1.5% | Mar 2022 0.9% | Jun 2022 2.8% | Sep 2022 3.1% | Dec 2022 1.4% | Mar 2023 0.8% | Jun 2023 1.3% | Sep 2023 2.0% | Dec 2023 0.8% | Mar 2024 0.4% | Jun 2024 1.0% | Sep 2024 1.0% | Dec 2024 0.7% | Mar 2025 0.1% | Jun 2025 0.7% | Sep 2025 1.0% | Dec 2025 0.4% | Mar 2026 0.2% | Jun 2026 —
- ONT: Sep 2021 1.0% | Dec 2021 0.1% | Mar 2022 -1.3% | Jun 2022 -0.9% | Sep 2022 -1.0% | Dec 2022 -1.2% | Mar 2023 -1.5% | Jun 2023 -0.9% | Sep 2023 -0.5% | Dec 2023 -1.3% | Mar 2024 -1.4% | Jun 2024 -0.4% | Sep 2024 -0.1% | Dec 2024 -3.0% | Mar 2025 -1.3% | Jun 2025 1.8% | Sep 2025 1.2% | Dec 2025 -0.3% | Mar 2026 -0.7% | Jun 2026 —
- NVRI: Sep 2021 1.1% | Dec 2021 0.7% | Mar 2022 0.3% | Jun 2022 -4.2% | Sep 2022 1.3% | Dec 2022 0.1% | Mar 2023 1.4% | Jun 2023 1.5% | Sep 2023 1.3% | Dec 2023 -0.3% | Mar 2024 1.2% | Jun 2024 1.4% | Sep 2024 1.7% | Dec 2024 -2.9% | Mar 2025 1.4% | Jun 2025 -0.3% | Sep 2025 0.8% | Dec 2025 -1.7% | Mar 2026 0.0% | Jun 2026 —
- PESI: Sep 2021 -2.7% | Dec 2021 -4.6% | Mar 2022 -4.0% | Jun 2022 -1.9% | Sep 2022 -5.1% | Dec 2022 -3.4% | Mar 2023 -1.2% | Jun 2023 1.7% | Sep 2023 -3.7% | Dec 2023 0.3% | Mar 2024 -9.2% | Jun 2024 -8.9% | Sep 2024 -4.8% | Dec 2024 -5.5% | Mar 2025 -6.2% | Jun 2025 -4.3% | Sep 2025 -3.0% | Dec 2025 -4.6% | Mar 2026 -12% | Jun 2026 —
- ABAT: Sep 2021 -73% | Dec 2021 -17% | Mar 2022 -9.2% | Jun 2022 -20% | Sep 2022 -4.9% | Dec 2022 -12% | Mar 2023 -11% | Jun 2023 -13% | Sep 2023 -15% | Dec 2023 -16% | Mar 2024 -14% | Jun 2024 -36% | Sep 2024 -16% | Dec 2024 -20% | Mar 2025 -15% | Jun 2025 -12% | Sep 2025 -13% | Dec 2025 -10% | Mar 2026 -39% | Jun 2026 —
- YDDL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0% | Dec 2022 0.0% | Mar 2023 — | Jun 2023 — | Sep 2023 -0.7% | Dec 2023 -0.7% | Mar 2024 18% | Jun 2024 18% | Sep 2024 14% | Dec 2024 14% | Mar 2025 14% | Jun 2025 14% | Sep 2025 9.3% | Dec 2025 9.3% | Mar 2026 — | Jun 2026 —

### 20-quarter ROCE change history
- WM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.2 pp | Dec 2022 +0.1 pp | Mar 2023 +0.1 pp | Jun 2023 +0.1 pp | Sep 2023 +0.1 pp | Dec 2023 −0.1 pp | Mar 2024 +0.5 pp | Jun 2024 0.0 pp | Sep 2024 +0.1 pp | Dec 2024 −0.1 pp | Mar 2025 −0.6 pp | Jun 2025 −0.2 pp | Sep 2025 −1.1 pp | Dec 2025 +0.2 pp | Mar 2026 −0.2 pp | Jun 2026 −0.2 pp
- RSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.2 pp | Dec 2022 +0.1 pp | Mar 2023 0.0 pp | Jun 2023 +0.2 pp | Sep 2023 0.0 pp | Dec 2023 +0.3 pp | Mar 2024 +0.2 pp | Jun 2024 +0.3 pp | Sep 2024 +0.3 pp | Dec 2024 +0.2 pp | Mar 2025 0.0 pp | Jun 2025 0.0 pp | Sep 2025 −0.2 pp | Dec 2025 −0.2 pp | Mar 2026 −0.1 pp | Jun 2026 —
- WCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.1 pp | Dec 2022 +0.2 pp | Mar 2023 +0.1 pp | Jun 2023 −0.1 pp | Sep 2023 0.0 pp | Dec 2023 −0.7 pp | Mar 2024 +0.1 pp | Jun 2024 +0.2 pp | Sep 2024 +0.5 pp | Dec 2024 −2.6 pp | Mar 2025 0.0 pp | Jun 2025 0.0 pp | Sep 2025 −0.4 pp | Dec 2025 +3.5 pp | Mar 2026 −0.3 pp | Jun 2026 −0.2 pp
- CLH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.8 pp | Dec 2022 +0.6 pp | Mar 2023 +0.3 pp | Jun 2023 −1.2 pp | Sep 2023 −1.8 pp | Dec 2023 +0.2 pp | Mar 2024 −0.1 pp | Jun 2024 0.0 pp | Sep 2024 +0.4 pp | Dec 2024 −0.4 pp | Mar 2025 −0.5 pp | Jun 2025 −0.4 pp | Sep 2025 −0.4 pp | Dec 2025 +0.1 pp | Mar 2026 +0.1 pp | Jun 2026 +0.7 pp
- GFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.1 pp | Dec 2022 +0.3 pp | Mar 2023 +0.4 pp | Jun 2023 +0.5 pp | Sep 2023 +0.5 pp | Dec 2023 +0.2 pp | Mar 2024 −0.1 pp | Jun 2024 −0.3 pp | Sep 2024 −0.2 pp | Dec 2024 +0.3 pp | Mar 2025 −0.1 pp | Jun 2025 +0.4 pp | Sep 2025 +0.3 pp | Dec 2025 +0.6 pp | Mar 2026 +0.2 pp | Jun 2026 −0.3 pp
- CWST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.3 pp | Dec 2022 −0.1 pp | Mar 2023 −0.1 pp | Jun 2023 −1.5 pp | Sep 2023 −1.1 pp | Dec 2023 −0.6 pp | Mar 2024 −0.4 pp | Jun 2024 −0.3 pp | Sep 2024 −1.0 pp | Dec 2024 −0.1 pp | Mar 2025 −0.3 pp | Jun 2025 −0.3 pp | Sep 2025 0.0 pp | Dec 2025 −0.3 pp | Mar 2026 +0.1 pp | Jun 2026 —
- ONT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.0 pp | Dec 2022 −1.3 pp | Mar 2023 −0.2 pp | Jun 2023 0.0 pp | Sep 2023 +0.5 pp | Dec 2023 −0.1 pp | Mar 2024 +0.1 pp | Jun 2024 +0.5 pp | Sep 2024 +0.4 pp | Dec 2024 −1.7 pp | Mar 2025 +0.1 pp | Jun 2025 +2.2 pp | Sep 2025 +1.3 pp | Dec 2025 +2.7 pp | Mar 2026 +0.6 pp | Jun 2026 —
- NVRI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.2 pp | Dec 2022 −0.6 pp | Mar 2023 +1.1 pp | Jun 2023 +5.7 pp | Sep 2023 0.0 pp | Dec 2023 −0.4 pp | Mar 2024 −0.2 pp | Jun 2024 −0.1 pp | Sep 2024 +0.4 pp | Dec 2024 −2.6 pp | Mar 2025 +0.2 pp | Jun 2025 −1.7 pp | Sep 2025 −0.9 pp | Dec 2025 +1.2 pp | Mar 2026 −1.4 pp | Jun 2026 —
- PESI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.4 pp | Dec 2022 +1.2 pp | Mar 2023 +2.8 pp | Jun 2023 +3.6 pp | Sep 2023 +1.4 pp | Dec 2023 +3.7 pp | Mar 2024 −8.0 pp | Jun 2024 −10.6 pp | Sep 2024 −1.1 pp | Dec 2024 −5.8 pp | Mar 2025 +3.0 pp | Jun 2025 +4.6 pp | Sep 2025 +1.8 pp | Dec 2025 +0.9 pp | Mar 2026 −5.3 pp | Jun 2026 —
- ABAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +68.2 pp | Dec 2022 +4.5 pp | Mar 2023 −1.3 pp | Jun 2023 +6.7 pp | Sep 2023 −9.9 pp | Dec 2023 −3.4 pp | Mar 2024 −3.1 pp | Jun 2024 −23.4 pp | Sep 2024 −0.9 pp | Dec 2024 −4.5 pp | Mar 2025 −1.8 pp | Jun 2025 +24.7 pp | Sep 2025 +3.0 pp | Dec 2025 +9.7 pp | Mar 2026 −23.1 pp | Jun 2026 —
- YDDL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 −0.7 pp | Dec 2023 −0.7 pp | Mar 2024 — | Jun 2024 — | Sep 2024 +14.8 pp | Dec 2024 +14.8 pp | Mar 2025 −4.1 pp | Jun 2025 −4.1 pp | Sep 2025 −4.8 pp | Dec 2025 −4.8 pp | Mar 2026 — | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Casella Waste Systems, Inc. has the lowest comparable PEG at 3.12×, 49.1% below Republic Services, Inc.. Only 2 of 12 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Casella Waste Systems, Inc. · 3.12× | 49.1% versus #2 · Republic Services, Inc. | 0/8 recent comparable periods | 2/12 companies · 30 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. Casella Waste Systems, Inc. (CWST): 3.1
2. Republic Services, Inc. (RSG): 6.1

### P/E — lowest P/E
1. One and one Green Technologies. Inc (YDDL): 23.0 — older report
2. Republic Services, Inc. (RSG): 31.4
3. Waste Management, Inc. (WM): 31.6
4. Clean Harbors, Inc. (CLH): 36.3
5. Waste Connections, Inc. (WCN): 40.2

### 20-quarter PEG history
- WM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.5 | Jun 2023 3.6 | Sep 2023 5.4 | Dec 2023 6.3 | Mar 2024 2.9 | Jun 2024 2.6 | Sep 2024 2.0 | Dec 2024 1.5 | Mar 2025 4.1 | Jun 2025 4.8 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 2.1 | Jun 2023 2.2 | Sep 2023 2.1 | Dec 2023 1.8 | Mar 2024 1.8 | Jun 2024 1.6 | Sep 2024 1.5 | Dec 2024 1.7 | Mar 2025 2.2 | Jun 2025 2.8 | Sep 2025 4.5 | Dec 2025 5.6 | Mar 2026 6.1 | Jun 2026 —
- WCN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.2 | Jun 2023 1.9 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 3.8 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- CLH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.7 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 2.1 | Dec 2024 4.6 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- CWST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 3.1 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- WM: Sep 2021 36.2 | Dec 2021 38.9 | Mar 2022 34.9 | Jun 2022 29.9 | Sep 2022 29.8 | Dec 2022 29.1 | Mar 2023 29.9 | Jun 2023 31.2 | Sep 2023 27.0 | Dec 2023 31.6 | Mar 2024 34.9 | Jun 2024 33.9 | Sep 2024 31.7 | Dec 2024 29.6 | Mar 2025 34.9 | Jun 2025 34.0 | Sep 2025 34.8 | Dec 2025 32.8 | Mar 2026 33.3 | Jun 2026 31.6
- RSG: Sep 2021 31.6 | Dec 2021 34.5 | Mar 2022 31.4 | Jun 2022 30.0 | Sep 2022 29.7 | Dec 2022 27.5 | Mar 2023 28.2 | Jun 2023 30.8 | Sep 2023 27.6 | Dec 2023 30.2 | Mar 2024 33.6 | Jun 2024 32.6 | Sep 2024 32.1 | Dec 2024 31.0 | Mar 2025 36.5 | Jun 2025 36.5 | Sep 2025 34.2 | Dec 2025 30.9 | Mar 2026 31.4 | Jun 2026 —
- WCN: Sep 2021 56.5 | Dec 2021 57.7 | Mar 2022 57.0 | Jun 2022 47.0 | Sep 2022 43.3 | Dec 2022 40.9 | Mar 2023 42.0 | Jun 2023 44.0 | Sep 2023 41.7 | Dec 2023 50.6 | Mar 2024 55.9 | Jun 2024 52.5 | Sep 2024 49.1 | Dec 2024 71.8 | Mar 2025 80.3 | Jun 2025 75.3 | Sep 2025 73.3 | Dec 2025 42.1 | Mar 2026 39.6 | Jun 2026 40.2
- CLH: Sep 2021 29.5 | Dec 2021 26.9 | Mar 2022 26.9 | Jun 2022 15.5 | Sep 2022 15.9 | Dec 2022 15.1 | Mar 2023 17.7 | Jun 2023 22.0 | Sep 2023 25.1 | Dec 2023 25.1 | Mar 2024 29.1 | Jun 2024 31.2 | Sep 2024 31.5 | Dec 2024 31.0 | Mar 2025 27.3 | Jun 2025 32.5 | Sep 2025 32.2 | Dec 2025 32.2 | Mar 2026 38.9 | Jun 2026 36.3
- GFL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 192.2 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 9.8 | Jun 2025 7.6 | Sep 2025 7.2 | Dec 2025 4.3 | Mar 2026 141.5 | Jun 2026 —
- CWST: Sep 2021 40.8 | Dec 2021 106.8 | Mar 2022 109.6 | Jun 2022 79.9 | Sep 2022 73.5 | Dec 2022 77.0 | Mar 2023 81.8 | Jun 2023 117.5 | Sep 2023 119.2 | Dec 2023 185.8 | Mar 2024 318.9 | Jun 2024 300.7 | Sep 2024 829.1 | Dec 2024 460.0 | Mar 2025 506.9 | Jun 2025 641.0 | Sep 2025 395.3 | Dec 2025 816.2 | Mar 2026 721.3 | Jun 2026 —
- ONT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 437.8 | Jun 2026 —
- NVRI: Sep 2021 282.5 | Dec 2021 59.7 | Mar 2022 58.3 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- PESI: Sep 2021 25.6 | Dec 2021 90.4 | Mar 2022 92.2 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 196.5 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- YDDL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 23.0 | Mar 2026 — | Jun 2026 —


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Waste Management, Inc. (WM) — market value ₹90.0K Cr; latest fundamentals Jun 2026
- Republic Services, Inc. (RSG) — market value ₹63.9K Cr; latest fundamentals Mar 2026
- Waste Connections, Inc. (WCN) — market value ₹41.7K Cr; latest fundamentals Jun 2026
- Clean Harbors, Inc. (CLH) — market value ₹16.4K Cr; latest fundamentals Jun 2026
- GFL Environmental Inc. (GFL) — market value ₹14.9K Cr; latest fundamentals Jun 2026
- Casella Waste Systems, Inc. (CWST) — market value ₹5.8K Cr; latest fundamentals Mar 2026
- Onterris, Inc. (ONT) — market value ₹826 Cr; latest fundamentals Mar 2026
- Enviri Corporation (NVRI) — market value ₹671 Cr; latest fundamentals Mar 2026
- Perma-Fix Environmental Services, Inc. (PESI) — market value ₹377 Cr; latest fundamentals Mar 2026
- American Battery Technology Company (ABAT) — market value ₹316 Cr; latest fundamentals Mar 2026
- Seahawk Recycling Holdings, Inc. (SEAH) — market value ₹149 Cr; latest fundamentals unavailable
- One and one Green Technologies. Inc (YDDL) — market value ₹98 Cr; latest fundamentals Dec 2025

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-08-04.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Waste Management sector outperforming S&P 500?

Waste Management has underperformed S&P 500 by 4.9% over 52 weeks and 0.2% over 13 weeks. 3 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 10 beat the sector itself.

### Which Waste Management company is largest by revenue?

Republic Services, Inc. leads with revenue of $16,696 million, based on 6 of 12 comparable companies through Mar 2026.

### Which Waste Management company is growing fastest?

American Battery Technology Company has the fastest current revenue growth at 100%, across 6 of 12 comparable companies.

### Which Waste Management company has the strongest 4-Factor Sector Score?

Clean Harbors, Inc. ranks first at 58.3/100 with 57.8% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Waste Management company has the lowest comparable PEG?

Casella Waste Systems, Inc. has the lowest comparable PEG at 3.12, among 2 of 12 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Waste Management comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### Which Waste Management company is the biggest?

Republic Services, Inc. is the largest, with trailing-twelve-month revenue of $16,696 million, ahead of Enviri Corporation at $2,242 million. That covers 6 of 12 companies with comparable reporting through Mar 2026.

### Which Waste Management company has the best profit margins?

Republic Services, Inc. has the highest operating margin at 20.2%, from 10 of 12 comparable companies. American Battery Technology Company shows the biggest recent improvement, at +645.8 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Waste Management company makes the most profit?

Republic Services, Inc. earns the most, at $2,170 million of trailing-twelve-month net profit, from 6 of 12 comparable companies. Republic Services, Inc. has the fastest profit growth at 4%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Waste Management company earns the highest return on capital?

Seahawk Recycling Holdings, Inc. leads on return on capital employed at 29.8%, across 12 of 12 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Waste Management stock is the cheapest?

On PEG — where a LOWER number is cheaper — Casella Waste Systems, Inc. screens cheapest at 3.12×. Only 2 of 12 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Waste Management sector beating the market?

Waste Management has underperformed S&P 500 by 4.9% over the last 52 weeks and 0.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 10 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Waste Management stock has the strongest price momentum?

Perma-Fix Environmental Services, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Waste Management company scores highest for research priority?

Clean Harbors, Inc. scores 58.3 out of 100 with 57.8% evidence confidence, from 20.6 points on growth and earnings, 14.5 on capital efficiency, 10.5 on valuation and 12.7 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Waste Management companies does this comparison cover, and over what period?

It compares 12 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Waste Management sector?

The 12 Waste Management companies on this page carry $235,203 million of combined market value. Waste Management, Inc. is the largest at $90,036 million, about 38% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

### What is the Waste Management sector's P/E ratio?

The median price-to-earnings ratio across the 12 Waste Management companies on this page is 58.3×, measured on the 10 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

### How is the Waste Management sector performing?

3 of the 10 covered Waste Management companies are beating S&P 500 on Mansfield relative strength. The sector itself is 4.9% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

### How many Waste Management stocks are listed in the US?

This comparison covers 12 listed Waste Management companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.