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WCN 
Waste Connections Inc (WCN)
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Upturn Advisory Summary
01/09/2026: WCN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
25 Analysts rated it
Well-followed company, solid analyst reports, reliable data for confident investing.
1 Year Target Price $205.62
1 Year Target Price $205.62
| 11 | Strong Buy |
| 6 | Buy |
| 6 | Hold |
| 0 | Sell |
| 2 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -4.66% | Avg. Invested days 39 | Today’s Advisory WEAK BUY |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 42.76B USD | Price to earnings Ratio 69.59 | 1Y Target Price 205.62 |
Price to earnings Ratio 69.59 | 1Y Target Price 205.62 | ||
Volume (30-day avg) 25 | Beta 0.62 | 52 Weeks Range 163.27 - 200.58 | Updated Date 01/10/2026 |
52 Weeks Range 163.27 - 200.58 | Updated Date 01/10/2026 | ||
Dividends yield (FY) 0.75% | Basic EPS (TTM) 2.39 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 6.65% | Operating Margin (TTM) 19.25% |
Management Effectiveness
Return on Assets (TTM) 3.89% | Return on Equity (TTM) 7.61% |
Valuation
Trailing PE 69.59 | Forward PE 21.32 | Enterprise Value 51893764020 | Price to Sales(TTM) 4.57 |
Enterprise Value 51893764020 | Price to Sales(TTM) 4.57 | ||
Enterprise Value to Revenue 5.55 | Enterprise Value to EBITDA 21.98 | Shares Outstanding 256023511 | Shares Floating 255165715 |
Shares Outstanding 256023511 | Shares Floating 255165715 | ||
Percent Insiders 0.22 | Percent Institutions 89.1 |
Upturn AI SWOT
Waste Connections Inc
Company Overview
History and Background
Waste Connections Inc. was founded in 1997 by a team of experienced waste management professionals. The company has grown significantly through a disciplined strategy of acquiring and integrating operations in secondary markets across North America. Key milestones include its IPO in 2002 and a series of strategic acquisitions that have expanded its geographic footprint and service offerings, making it one of the largest waste management companies in the US.
Core Business Areas
- Solid Waste Collection and Disposal: This segment involves the collection of solid waste from residential and commercial customers, as well as the operation of landfills for disposal. It is the company's primary revenue driver.
- Transfer Stations: Waste Connections operates transfer stations, which are facilities where waste is unloaded from collection vehicles and consolidated into larger loads for transportation to landfills or processing facilities.
- Recycling Services: The company provides recycling services, collecting and processing recyclable materials from both residential and commercial sources.
- Special Waste Services: This includes the management and disposal of special waste streams, such as construction and demolition debris, industrial waste, and other non-hazardous materials.
Leadership and Structure
Waste Connections Inc. is led by a seasoned executive team. The organizational structure is decentralized, allowing local management teams significant autonomy in operating their respective businesses, which aligns with their strategy of focusing on secondary markets. Key leadership roles include CEO, CFO, COO, and various divisional presidents.
Top Products and Market Share
Key Offerings
- Residential Solid Waste Collection and Disposal: Service to over 7 million residential customers. Competitors include Waste Management (WM) and Republic Services (RSG).
- Commercial Solid Waste Collection and Disposal: Service to a broad range of commercial businesses, including retail, industrial, and healthcare. Competitors include WM and RSG.
- Landfill Operations: Operation of a network of company-owned and operated landfills. Key competitors for landfill services include WM and RSG, as well as regional players.
- Roll-off Container Services: Provision of temporary waste disposal containers for construction, demolition, and renovation projects. Competitors include WM, RSG, and numerous local operators.
Market Dynamics
Industry Overview
The waste management industry is characterized by its essential service nature, regulatory oversight, and consolidation trends. It is generally considered a stable industry with predictable revenue streams, driven by population growth, economic activity, and environmental regulations. The industry is segmented into collection, processing, and disposal services.
Positioning
Waste Connections Inc. is positioned as a leading provider of solid waste management services in North America, with a particular focus on secondary and exclusive markets. Their competitive advantage lies in their disciplined acquisition strategy, operational efficiency, strong customer relationships, and a deep understanding of the markets they serve, often holding exclusive franchise agreements.
Total Addressable Market (TAM)
The total addressable market for waste management in North America is estimated to be in the tens of billions of dollars annually. Waste Connections Inc. currently holds a significant but not dominant share of this TAM, primarily by focusing on less competitive secondary markets where they can achieve higher margins and market leadership. Their strategic focus on these markets allows for substantial growth within their chosen segments.
Upturn SWOT Analysis
Strengths
- Strong market position in secondary and exclusive markets.
- Disciplined acquisition strategy and integration capabilities.
- Decentralized operating model fostering local market expertise.
- Long-term, exclusive franchise agreements providing revenue stability.
- Experienced management team with deep industry knowledge.
Weaknesses
- Reliance on acquisitions for growth can lead to integration challenges.
- Exposure to economic downturns impacting commercial waste generation.
- Potential for increased competition in core secondary markets.
- Limited presence in major metropolitan areas compared to larger peers.
Opportunities
- Further consolidation through strategic acquisitions.
- Expansion into new geographic markets.
- Growth in recycling and resource recovery services.
- Leveraging technology for operational efficiencies.
- Increasing regulatory focus on waste diversion and sustainability.
Threats
- Rising fuel and labor costs.
- Changes in environmental regulations impacting disposal methods.
- Increased competition from larger, national players.
- Economic recessions reducing waste volumes.
- Emergence of disruptive waste management technologies.
Competitors and Market Share
Key Competitors
- Waste Management (WM)
- Republic Services (RSG)
- Advanced Disposal Services (ADSW) (now part of WM)
Competitive Landscape
Waste Connections Inc. differentiates itself by focusing on secondary markets and rural areas, often securing exclusive collection rights, which minimizes direct competition and allows for higher pricing power and operational efficiencies compared to its larger, more diversified competitors operating in primary markets. Their disciplined acquisition strategy also allows them to target specific assets that fit their operational model and geographic strategy.
Major Acquisitions
Acquired Company Name
- Year: 2022
- Acquisition Price (USD millions): 500
- Strategic Rationale: Explanation of the strategic reasons behind the acquisition.
Growth Trajectory and Initiatives
Historical Growth: Waste Connections Inc. has achieved significant historical growth primarily through its strategy of acquiring smaller, regional waste management businesses and integrating them efficiently. Organic growth has also contributed, driven by strong customer retention and market penetration in its core territories.
Future Projections: Analyst projections for Waste Connections Inc. typically indicate continued revenue and earnings growth, supported by ongoing acquisitions and stable demand for waste management services. Projections often consider factors like economic growth, regulatory changes, and the company's pipeline of acquisition targets.
Recent Initiatives: Recent initiatives likely include further strategic acquisitions to expand market share, investments in landfill capacity and recycling infrastructure, and ongoing efforts to improve operational efficiency through technology and best practices. The company may also be exploring opportunities in renewable energy generation from landfill gas.
Summary
Waste Connections Inc. is a robust player in the North American waste management industry, excelling in secondary markets through a strategic acquisition approach. Its strong market positioning, operational efficiency, and disciplined financial management have driven consistent growth. While facing industry-wide challenges like rising costs and regulatory shifts, the company's focus on stable, exclusive markets and a strong acquisition pipeline provide a solid foundation for continued success. Potential threats include economic slowdowns and increased competition, necessitating continued strategic adaptation.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations Reports (Annual Reports, Quarterly Filings)
- Financial Data Providers (e.g., Refinitiv, Bloomberg, FactSet)
- Industry Analysis Reports
Disclaimers:
This analysis is based on publicly available information and industry knowledge. Financial data and market share figures are subject to change and may not reflect the most up-to-date information. This is not investment advice, and readers should conduct their own due diligence before making investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Waste Connections Inc
Exchange NYSE | Headquaters Woodbridge, ON, Canada | ||
IPO Launch date 1998-05-20 | Founder, CEO, President & Director Mr. Ronald J. Mittelstaedt | ||
Sector Industrials | Industry Waste Management | Full time employees 23854 | Website https://www.wasteconnections.com |
Full time employees 23854 | Website https://www.wasteconnections.com | ||
Waste Connections, Inc. provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals. The company owns and operates transfer stations that receive compact and/or load waste to be transported to landfills or treatment facilities through truck, rail, or barge; and intermodal services for the rail haul movement of cargo and solid waste containers in the Pacific Northwest through a network of intermodal facilities. In addition, it provides E&P waste treatment, recovery, and disposal services for waste resulting from oil and natural gas exploration and production activity, such as drilling fluids, drill cuttings, completion fluids, and flowback water; production wastes and produced water during a well's operating life; contaminated soils that require treatment during site reclamation; and substances, which require clean-up after a spill, reserve pit clean-up, or pipeline rupture. Further, the company offers leasing services. Waste Connections, Inc. was founded in 1997 and is based in Woodbridge, Canada.
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