GFL Environmental Inc. (GFL)
GFL Environmental Inc. reported revenue of CA$6.6B in fiscal 2025, up 7.8% from a year earlier. Net income was CA$3.8B, a net margin of 58.0%. At December 31, 2025 it held CA$85.6M in cash against CA$7.4B of debt. Its latest periodic report to the SEC is the annual report (Canadian issuer) (40-F) filed on February 18, 2026.
Key facts about GFL Environmental Inc.
- Net worth
- GFL Environmental Inc. has a market value (market cap) of $17.2B at the latest share price, and shareholders' equity of CA$7.3B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was CA$6.6B (+7.8% year on year), with net income of CA$3.8B.
- Cash flow
- In fiscal 2025 operations brought in CA$1.3B of cash.
- Latest report
- The latest periodic report (annual report (Canadian issuer), 40-F) was filed with the SEC on February 18, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What GFL Environmental Inc. does
GFL Environmental Inc. is registered with the SEC under industry code SIC 4953 (Refuse Systems). Its shares trade on NYSE under the ticker GFL.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | CA$6.6B | CA$3.8B | CA$9.99 | n/a |
| 2024 | CA$6.1B | -CA$722.7M | -CA$2.11 | n/a |
| 2023 | CA$7.5B | CA$45.4M | -CA$0.13 | n/a |
| 2022 | CA$6.8B | -CA$311.8M | -CA$1.08 | n/a |
| 2021 | CA$5.1B | -CA$606.8M | -CA$1.83 | n/a |
| 2020 | CA$4.2B | -CA$1.1B | -CA$3.10 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where GFL ranks in Utilities
Dividends
It paid out CA$31.1M in cash dividends, 1% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | n/a | CA$31.1M | 1% |
| 2024 | n/a | CA$28.2M | n/a |
| 2023 | n/a | CA$25M | 55% |
| 2022 | n/a | CA$20.7M | n/a |
| 2021 | n/a | CA$17.9M | n/a |
| 2020 | n/a | CA$13.1M | n/a |
Latest SEC filings
What GFL Environmental Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026Passive stake changed SCHEDULE 13G/A
- October 30, 2026
- October 28, 2026
- October 8, 2026
- October 1, 2026
- September 29, 2026
- September 24, 2026
- September 1, 2026
- August 6, 2026Passive stake changed SCHEDULE 13G/A
- July 31, 2026
Insider trades
What the people running GFL Environmental Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns GFL
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| GFL Borrower Luxembourg S.a r.l.13G, passive with 6 related filers | 22.1% | February 13, 2026 |
| Patrick Dovigi13G, passive | 6.8% | November 7, 2025 |
| Capital Research Global Investors13G, passive | 6.7% | May 14, 2026 |
| Fmr LLC13G, passive with 1 related filers | 6.5% | August 6, 2026 |
| Ontario Teachers Pension Plan Board13G, passive | 6.5% | February 13, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 325 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BC Partners PE LP | 29,912,724 | 0 |
| Fmr LLC | 22,638,505 | -2,824,366 |
| Ontario Teachers Pension Plan Board | 22,450,784 | 0 |
| Capital Research Global Investors | 21,919,416 | -1,232,564 |
| Massachusetts Financial Services Co | 10,865,869 | -80,261 |
| Nordea Investment Management AB | 10,483,301 | +2,218,333 |
| Maverick Capital Ltd | 10,202,931 | +6,353,275 |
| Royal Bank of Canada | 9,112,951 | +751,100 |
| BlackRock, Inc. | 8,102,045 | +5,511,143 |
| FIL Ltd | 7,740,731 | +7,641,177 |
| CIBC Asset Management Inc | 7,494,244 | +1,360,128 |
| Vanguard Capital Management LLC | 7,261,873 | -80,160 |
| Pictet Asset Management Holding SA | 6,672,900 | +519,256 |
| Fred Alger Management, LLC | 5,430,363 | -587,164 |
| Deutsche Bank AG\ | 4,471,291 | +745,434 |
| Mackenzie Financial Corp | 2,927,135 | +1,514,200 |
| Geode Capital Management, LLC | 3,932,615 | +1,647,842 |
| Norges Bank | 3,363,782 | new |
| Mitsubishi UFJ Trust & Banking Corp | 3,063,707 | new |
| Wellington Management Group Llp | 2,583,995 | -77,102 |
Insiders
Questions about GFL
What does GFL Environmental Inc. do?
GFL Environmental Inc. is a company in the Utilities sector, listed on NYSE as GFL. Its shares trade on NYSE under the ticker GFL.
What is GFL Environmental Inc.'s net worth?
GFL Environmental Inc. has a market value (market cap) of $17.2B at the latest share price, and shareholders' equity of CA$7.3B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is GFL Environmental Inc. profitable?
Yes. In fiscal 2025 it reported net income of CA$3.8B on revenue of CA$6.6B, a net margin of 58.0%.
How much revenue does GFL Environmental Inc. make?
In fiscal 2025 GFL Environmental Inc. reported revenue of CA$6.6B. That is 7.8% more than a year earlier.
When did GFL Environmental Inc. last report?
Its most recent periodic report is the annual report (Canadian issuer) (40-F) filed on February 18, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the passive stake changed from November 5, 2026.
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Where the numbers come from
Financial figures are the values GFL Environmental Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.