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Waste Connections Inc (WCN)



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Upturn Advisory Summary
08/14/2025: WCN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $210.95
1 Year Target Price $210.95
11 | Strong Buy |
6 | Buy |
6 | Hold |
0 | Sell |
2 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 4.95% | Avg. Invested days 41 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 47.50B USD | Price to earnings Ratio 74.49 | 1Y Target Price 210.95 |
Price to earnings Ratio 74.49 | 1Y Target Price 210.95 | ||
Volume (30-day avg) 25 | Beta 0.57 | 52 Weeks Range 168.52 - 201.00 | Updated Date 08/15/2025 |
52 Weeks Range 168.52 - 201.00 | Updated Date 08/15/2025 | ||
Dividends yield (FY) 0.66% | Basic EPS (TTM) 2.48 |
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 2025-07-22 | When Before Market | Estimate 1.25 | Actual 1.29 |
Profitability
Profit Margin 6.97% | Operating Margin (TTM) 19.37% |
Management Effectiveness
Return on Assets (TTM) 4.01% | Return on Equity (TTM) 7.88% |
Valuation
Trailing PE 74.49 | Forward PE 26.11 | Enterprise Value 56053285815 | Price to Sales(TTM) 5.14 |
Enterprise Value 56053285815 | Price to Sales(TTM) 5.14 | ||
Enterprise Value to Revenue 6.07 | Enterprise Value to EBITDA 23.72 | Shares Outstanding 257114000 | Shares Floating 256577743 |
Shares Outstanding 257114000 | Shares Floating 256577743 | ||
Percent Insiders 0.22 | Percent Institutions 92.41 |
Upturn AI SWOT
Waste Connections Inc

Company Overview
History and Background
Waste Connections Inc. was founded in 1997. It quickly grew through strategic acquisitions and organic growth, becoming a leading integrated solid waste services company. The company focuses on secondary and underserved markets, emphasizing operational efficiency and customer service.
Core Business Areas
- Solid Waste Collection: Collection of residential, commercial, and industrial solid waste. This includes curbside pickup, container services, and specialized waste management.
- Landfill Disposal: Operation of landfills for the disposal of collected waste. This segment also involves managing landfill gas and environmental compliance.
- Recycling: Processing and sale of recyclable materials collected from various sources. The company operates recycling facilities and markets recovered commodities.
- Resource Recovery: Includes various resource recovery activities. It encompasses the conversion of solid waste into alternative fuels. Waste Connections also engages in energy production from landfill gas, reducing greenhouse gas emissions and generating electricity.
Leadership and Structure
Ronald J. Mittelstaedt is the Executive Chairman. Worthing F. Jackman is the President and CEO. The company has a board of directors overseeing strategic direction and corporate governance.
Top Products and Market Share
Key Offerings
- Solid Waste Collection Services: Residential, commercial, and industrial waste collection. Market share data is embedded within the company's overall market share in the solid waste services industry. Competitors: Republic Services, Waste Management.
- Landfill Disposal Services: Operation and management of landfills for waste disposal. Generates revenue through tipping fees. Competitors: Republic Services, Waste Management.
- Recycling Services: Processing and marketing of recyclable materials. Revenue depends on commodity prices and recycling volumes. Competitors: WM, Republic Services
Market Dynamics
Industry Overview
The solid waste services industry is characterized by stable demand, consolidation, and increasing focus on sustainability and environmental regulations.
Positioning
Waste Connections Inc. is a leading integrated solid waste services company, with a strong focus on secondary markets and operational efficiency. Its competitive advantages include a decentralized management structure and a strong acquisition track record.
Total Addressable Market (TAM)
The North American waste management market is estimated to be over $75 billion annually. Waste Connections is well-positioned to capture a significant portion of this TAM through organic growth and strategic acquisitions.
Upturn SWOT Analysis
Strengths
- Strong financial performance
- Decentralized operating model
- Strategic acquisitions
- High customer retention
- Focus on secondary markets
Weaknesses
- Exposure to commodity price fluctuations in recycling segment
- Dependence on acquisitions for growth
- Capital intensive nature of landfill operations
Opportunities
- Increasing demand for sustainable waste management solutions
- Expansion into new geographic markets
- Technological advancements in waste processing
- Growing population and urbanization
Threats
- Stricter environmental regulations
- Economic downturns impacting waste generation
- Increased competition from larger players
- Rising fuel and labor costs
Competitors and Market Share
Key Competitors
- WM
- RSG
Competitive Landscape
Waste Connections Inc. competes effectively through its focus on secondary markets, operational efficiency, and decentralized management. It faces competition from larger players like Waste Management and Republic Services.
Major Acquisitions
Secure Energy Services' Waste Treatment and Disposal Assets
- Year: 2021
- Acquisition Price (USD millions): 775
- Strategic Rationale: Expanded Waste Connections' presence in the oilfield waste disposal market in Canada.
Growth Trajectory and Initiatives
Historical Growth: Waste Connections Inc. has demonstrated consistent growth through acquisitions and organic expansion.
Future Projections: Analyst estimates generally project continued growth in revenue and earnings, driven by population growth, economic activity, and acquisitions.
Recent Initiatives: Recent initiatives include investments in renewable natural gas (RNG) projects and expansion of recycling capabilities.
Summary
Waste Connections Inc. is a strong player in the solid waste industry, known for its strategic acquisitions and efficient operations, particularly in secondary markets. Its decentralized structure promotes agility and responsiveness. However, it faces challenges from environmental regulations and reliance on acquisitions, and commodity pricing. Overall, the company is well-positioned for continued growth in the expanding waste management market.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC Filings (e.g., 10-K, 10-Q)
- Industry Reports
- Analyst Reports
- Company Press Releases
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor.
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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