# Waste Connections share price today (Waste Connections, Inc., WCN)

> Waste Connections, Inc.'s earnings have grown faster than its share price. Earnings per share grew +74.5% in a year while the price moved +11.3%. WCN · Industrials · Waste Management · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/wcn

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## Key numbers

- Business trend: Getting better, from the last 12 quarters
- Price: $186.66 (+11.3% in a year)
- P/E: 41.9× (lower than 72% of the last 4.6 years)
- Revenue (Sep 2026): $2.6 B (+7.3% on a year ago)
- Profit (Sep 2026): $359 M (+25.5% on a year ago)
- Operating margin: 20.8% (+1.6 points on a year ago)
- ROE: 13%, FY25
- ROIC: 8.5%, against a 6.2% cost of capital: +2.3 points

The main question: yearly earnings per share moved +74.5% while the share price moved +11.3%. ## What is the Waste Connections share price today? Waste Connections, Inc.'s share price was $186.66 at the close on 3 November 2026. It has been stalling near its high for 4 weeks. That is 14.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between $149 and $187, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 3 weeks in a row. Over the last 10 years the share price moved +282% while the S&P 500 moved +255%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Waste Connections pay? Waste Connections, Inc. paid $1.40 per share over the last four reported quarters. The most recent declaration was $0.35 for Sep 2026. At today's price of $186.66 that is a yield of 0.75%, based on dividends already paid, not a forecast. ## Which stock lists is Waste Connections on? Waste Connections is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Waste Connections profitable? Waste Connections, Inc. earned $359 M of net profit in the Sep 2026 quarter, +25.5% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY25 profit was $1.1 B. Over 4 years profit has grown 14.9% a year on average. That is 13.6% of the quarter's revenue. The same quarter a year earlier earned $286 M. 1 of the last 12 reported quarters were loss-making. For the full year, FY25 profit was $1.1 B (+74.3% on the year before). Why profit moved: revenue changed +7.3% on a year earlier and the margin moved +1.6 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +6.1% and revenue +6.3%. Profit and revenue are moving at about the same pace. ## How much revenue does Waste Connections make, and is it growing? Waste Connections, Inc. reported $2.6 B of revenue in the Sep 2026 quarter, +7.3% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 4 years it has grown 11.4% a year on average. The last full year, FY25, came in at $9.5 B. The last four reported quarters add to $9.9 B. FY25 revenue was $9.5 B, +6.1% on the year before. Recent pace: the last four quarters grew +6.3% on average, against 11.4% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +6.3%, against +6.9% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +82.2%, against +9.8% a year (accelerating). ## How much of every $100 of sales does Waste Connections keep? Waste Connections, Inc.'s operating margin was 20.8% in the Sep 2026 quarter, 1.6 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 5 years it has been between 13.7% and 18.8%. The latest quarter is above every full year in that period. Across 5 years it has been between 13.7% and 18.8%, and FY25's 18.8% is the highest of them. Why the margin moved: operating margin changed +1.6 percentage points on the year while gross margin changed +0.3 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Waste Connections' profit turning into cash? Over the last 3 years, 276% of Waste Connections, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $2.4 B of operating cash against $1.1 B of profit. After $1.2 B of spending on assets, $1.2 B was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Waste Connections' cash go? Waste Connections, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $3.2 B on assets over the last 3 years. Averaged over those years that is 11.2% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $3.2 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Waste Connections' P/E ratio, and how does it compare with its own history? Waste Connections, Inc.'s P/E is 41.9×, near the low end of its own history: it has been lower only 28% of the time. Its usual P/E (the middle reading) is 48.6×, over 4.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +74.5% while the price moved +11.3%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +11.9% a year; about +11.6% a year came from earnings growth and about +0.3 percentage points from the multiple (roughly no change). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Waste Connections business getting better or worse? Waste Connections, Inc.'s business is getting better. Profit growth hit its low 4 quarters ago at −25.3% and has recovered to +82.2%, with ROCE steady at 10.1%. This is based on 12 quarters of 4 measures. Why it matters: a lasting rise from a low is what this page is built to show. ## How much does Waste Connections earn on its capital? Waste Connections, Inc. earned a ROE of 13% in FY25. That is up from a low of 8% in FY24. Its return on capital used (ROIC) is 2.3 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 11.4% net margin and 0.45× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 11.4% net margin × 0.45× asset turnover × 2.56× leverage (assets divided by equity) ≈ 13.1% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 8.5% − 6.2% = +2.3 percentage points. The 6.2% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Waste Connections have too much debt? Waste Connections, Inc. has total debt of $9.8 B against shareholder equity of $7.9 B as of Sep 2026, so its debt is 1.24× its equity. Year by year, that ratio went from 0.76 in FY21 to 1.11 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Waste Connections shareholding pattern? 2.1% of Waste Connections, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 3.1 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Waste Connections from balance-sheet trouble? For Waste Connections, Inc., the Z-score is 2.95. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the grey area between the two. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 2.95 is in the grey area, neither clearly safe nor clearly in trouble. ## How does Waste Connections rank in its industry? 68.4 out of 100, rank 1 of 12 in Waste Management, with 85% of the evidence available. Waste Connections, Inc. scores 68.4 out of 100 against the 12 companies it is compared with in Waste Management, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 27.5 + 14.3 + 6.6 + 20 = 68.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Waste Connections compared with? Waste Connections ranks 1 of 12 Waste Management companies on the 4-Factor Sector Score, with 68.4 out of 100. 1. Waste Connections, Inc. this page WCN · turning · Most evidence points up · 85% evidence 68.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.5/35 · Revenue 6.3% · Profit 82.2% · Operating margin change 1.6 points · 95% evidence Capital efficiency 14.3/25 · ROCE 9.9% · Operating margin 20.8% · 76% evidence Valuation 6.6/20 · P/E 34.2× · PEG 3.76 · 65% evidence Relative strength 20.0/20 · Lead over its industry 20.5% · Lead over S&P 500 7% · 1 year 12.3% · 100% evidence · 5 of 12 weeks ahead Exact sum: 27.5 + 14.3 + 6.6 + 20 = 68.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Clean Harbors, Inc.](https://www.sectoralpha.in/us/stocks/clh) CLH · quiet · Evidence leans up · 81% evidence 56.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.6/35 · Revenue 5.1% · Profit 14% · Operating margin change 1.9 points · 83% evidence Capital efficiency 15.5/25 · ROCE 11.1% · Operating margin 15.5% · 76% evidence Valuation 9.7/20 · P/E 36× · PEG 2.29 · 65% evidence Relative strength 9.1/20 · Lead over its industry 10.1% · Lead over S&P 500 -1.7% · 1 year 41.8% · 100% evidence · 6 of 12 weeks ahead Exact sum: 22.6 + 15.5 + 9.7 + 9.1 = 56.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Waste Management, Inc.](https://www.sectoralpha.in/us/stocks/wm) WM · turning · Evidence leans up · 81% evidence 55.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.1/35 · Revenue 7.2% · Profit 4.8% · Operating margin change 0.5 points · 83% evidence Capital efficiency 17.0/25 · ROCE 12% · Operating margin 19% · 76% evidence Valuation 6.0/20 · P/E 31.4× · PEG 4.73 · 65% evidence Relative strength 12.8/20 · Lead over its industry 12.3% · Lead over S&P 500 -0.4% · 1 year 16.2% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20.1 + 17 + 6 + 12.8 = 55.9 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 4. [Republic Services, Inc.](https://www.sectoralpha.in/us/stocks/rsg) RSG · turning · Evidence leans up · 81% evidence 54.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.4/35 · Revenue 3.2% · Profit 2.9% · Operating margin change -0.1 points · 83% evidence Capital efficiency 15.6/25 · ROCE 10.8% · Operating margin 20.4% · 76% evidence Valuation 5.4/20 · P/E 30× · PEG 5.69 · 65% evidence Relative strength 18.6/20 · Lead over its industry 19.8% · Lead over S&P 500 6.4% · 1 year 18.1% · 100% evidence · 4 of 12 weeks ahead Exact sum: 14.4 + 15.6 + 5.4 + 18.6 = 54 · What this means: Relative strength against the index is 6.4%, and revenue and profit growth are weak. 5. [GFL Environmental Inc.](https://www.sectoralpha.in/us/stocks/gfl) GFL · breaking out · Evidence leans down · 71% evidence 49.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 9.6% · Profit -107% · Operating margin change -2.7 points · 83% evidence Capital efficiency 8.1/25 · ROCE 2.4% · Operating margin 6.9% · 76% evidence Valuation 11.1/20 · P/E 5.6× · PEG n/a · 15% evidence Relative strength 17.0/20 · Lead over its industry 18% · Lead over S&P 500 4.6% · 1 year 6.4% · 100% evidence · 11 of 12 weeks ahead Exact sum: 12.9 + 8.1 + 11.1 + 17 = 49.1 · What this means: Relative strength against the index is 4.6%, and revenue and profit growth are weak. 6. [Casella Waste Systems, Inc.](https://www.sectoralpha.in/us/stocks/cwst) CWST · turning · Evidence leans down · 81% evidence 45.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.2/35 · Revenue 13.6% · Profit -54.5% · Operating margin change -0.5 points · 83% evidence Capital efficiency 9.2/25 · ROCE 2.9% · Operating margin 5% · 76% evidence Valuation 6.5/20 · P/E 1081.4× · PEG 3.1 · 65% evidence Relative strength 14.8/20 · Lead over its industry 12.6% · Lead over S&P 500 -0.2% · 1 year 9.3% · 100% evidence · 3 of 12 weeks ahead Exact sum: 15.2 + 9.2 + 6.5 + 14.8 = 45.7 · What this means: Relative strength against the index is -0.2%, and revenue and profit growth are weak. 7. [Onterris, Inc.](https://www.sectoralpha.in/us/stocks/ont) ONT · basing · Evidence leans down · 64% evidence 38.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.2/35 · Revenue -0.9% · Profit n/a · Operating margin change -3.1 points · 62% evidence Capital efficiency 6.5/25 · ROCE 1% · Operating margin 3.6% · 76% evidence Valuation 11.5/20 · P/E -65.4× · PEG n/a · 15% evidence Relative strength 5.3/20 · Lead over its industry -17% · Lead over S&P 500 -27.5% · 1 year -39.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 15.2 + 6.5 + 11.5 + 5.3 = 38.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [American Battery Technology Company](https://www.sectoralpha.in/us/stocks/abat) ABAT · quiet · Evidence leans down · 61% evidence 35.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 100% · Profit n/a · Operating margin change 33.6 points · 62% evidence Capital efficiency 3.0/25 · ROCE -59.1% · Operating margin -246.5% · 76% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 0.4/20 · Lead over its industry -55.8% · Lead over S&P 500 -61.5% · 1 year -71.8% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.8 + 3 + 10 + 0.4 = 35.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Enviri Corporation](https://www.sectoralpha.in/us/stocks/nvri) NVRI · quiet · Most evidence points down · 61% evidence 29.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.4/35 · Revenue -16.8% · Profit n/a · Operating margin change -88.9 points · 62% evidence Capital efficiency 5.0/25 · ROCE -14% · Operating margin -89.4% · 76% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 6.7/20 · Lead over its industry 3.8% · Lead over S&P 500 -7.5% · 1 year 56.1% · 100% evidence · 2 of 12 weeks ahead Exact sum: 7.4 + 5 + 10 + 6.7 = 29.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Perma-Fix Environmental Services, Inc.](https://www.sectoralpha.in/us/stocks/pesi) PESI · quiet · Most evidence points down · 64% evidence 26.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.6/35 · Revenue -6.6% · Profit n/a · Operating margin change -30.7 points · 62% evidence Capital efficiency 4.5/25 · ROCE -25.6% · Operating margin -50.5% · 76% evidence Valuation 8.9/20 · P/E 220.6× · PEG n/a · 15% evidence Relative strength 4.4/20 · Lead over its industry 2.4% · Lead over S&P 500 -8.9% · 1 year 1.4% · 100% evidence · 7 of 12 weeks ahead Exact sum: 8.6 + 4.5 + 8.9 + 4.4 = 26.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. Seahawk Recycling Holdings, Inc. SEAH · Too little evidence to rank firmly · 11% evidence 57.2 out of 100 Growth Capital Valuation Relative
12. One and one Green Technologies. Inc YDDL · Too little evidence to rank firmly · 31% evidence 53.3 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Waste Management](https://www.sectoralpha.in/us/sectors/waste-management), all 12 compared on one page. ## Which companies are close to Waste Connections in size? Waste Connections is the 3rd largest of 10 Waste Management companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Waste Management, Inc. and Republic Services, Inc. Just below it: GFL Environmental Inc., Clean Harbors, Inc., Casella Waste Systems, Inc. and Onterris, Inc. ### Waste Management companies close in size

1. [Waste Management, Inc.](https://www.sectoralpha.in/us/stocks/wm) $93.3 billion
2. [Republic Services, Inc.](https://www.sectoralpha.in/us/stocks/rsg) $74 billion
3. Waste Connections, Inc. $46.7 billion
4. [GFL Environmental Inc.](https://www.sectoralpha.in/us/stocks/gfl) $20 billion
5. [Clean Harbors, Inc.](https://www.sectoralpha.in/us/stocks/clh) $15.5 billion
6. [Casella Waste Systems, Inc.](https://www.sectoralpha.in/us/stocks/cwst) $6.1 billion
7. [Onterris, Inc.](https://www.sectoralpha.in/us/stocks/ont) $551 million

[All 10 Waste Management companies, largest first](https://www.sectoralpha.in/us/sectors/waste-management#all-companies)

### Companies close in size in other industries

1. [Atlassian Corporation](https://www.sectoralpha.in/us/stocks/team) $47.4 billion · Software - Application
2. [HEICO Corporation](https://www.sectoralpha.in/us/stocks/hei) $47.2 billion · Aerospace & Defense
3. Waste Connections, Inc. $47.1 billion
4. [Westinghouse Air Brake Technologies Corporation](https://www.sectoralpha.in/us/stocks/wab) $46.9 billion · Railroads
5. [ArcelorMittal S.A.](https://www.sectoralpha.in/us/stocks/mt) $46.9 billion · Steel

## What else do people ask about Waste Connections? ### What were Waste Connections's latest quarterly results? Waste Connections, Inc. reported revenue of $2.6 B and net profit of $359 M for the Sep 2026 quarter. Revenue rose 7.3% and profit rose 25.5% compared with a year earlier. Earnings per share were $1.43. The operating margin was 20.8%, 1.6 percentage points higher than a year earlier (as of 3 November 2026). ### What is Waste Connections's market cap? Waste Connections, Inc.'s market capitalisation is $46.7 B at a stock price of $186.66. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Waste Connections performing? Waste Connections, Inc.'s share price has been stalling near its high for 4 weeks. In its latest quarter, revenue rose 7.3% and profit rose 25.5% compared with a year earlier. Over the past 13 weeks it has done better than the S&P 500, for 3 weeks running (as of 3 November 2026). ### Will Waste Connections's stock price go up? This page does not forecast Waste Connections, Inc.'s stock price. What it shows instead: the stock price is $186.66, and it has been stalling near its high for 4 weeks. Its P/E of 41.9× is higher than 28% of its own last 5 years (as of 3 November 2026). ### Is Waste Connections's profit real cash? Yes, over the last 3 years, 276% of Waste Connections, Inc.'s reported profit came in as cash from operations. The latest year was lower at 224%, so the trend is worth watching. In FY25, operating cash was $2.4 B against reported profit of $1.1 B. Most of that cash then goes into building new capacity. These are yearly figures (as of 3 November 2026). ### Where is Waste Connections in its business cycle? Waste Connections, Inc.'s FY25 operating margin was 18.8%, against a 5-year range of 13.7% to 18.8%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 20.8%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Waste Connections story? The main question: yearly earnings per share moved +74.5% while the share price moved +11.3%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Waste Connections a stock worth studying right now? What the numbers show: Waste Connections, Inc.'s earnings have grown faster than its share price. Earnings per share grew +74.5% in a year while the price moved +11.3%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.