Waste Connections, Inc. (WCN)
Waste Connections, Inc. brought in $9.8B of revenue over the twelve months to June 30, 2026, up 5.7% from a year earlier. Net income was $1.1B, a net margin of 10.9%. Operating cash flow minus capital spending left $1.2B of free cash flow in fiscal 2025. At June 30, 2026 it held $98.2M in cash against $9.4B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on July 23, 2026.
Key facts about Waste Connections, Inc.
- Net worth
- Waste Connections, Inc. has a market value (market cap) of $39.4B at the latest share price, and shareholders' equity of $7.9B on its balance sheet at June 30, 2026. 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 $9.5B (+6.1% year on year), with net income of $1.1B. Over the 12 months to June 30, 2026: revenue $9.8B, net income $1.1B.
- Cash flow
- In fiscal 2025 operations brought in $2.4B of cash; after $1.2B of capital spending, free cash flow was $1.2B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on July 23, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- Waste Connections, Inc.'s next report is expected around October 20, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Waste Connections, Inc. paid dividends of $1.30 per share in fiscal 2025, a yield of 0.84% at the current price.
What Waste Connections, Inc. does
Waste Connections provides non-hazardous solid waste collection, transfer, disposal, and recycling services. It serves residential, commercial, industrial, and municipal customers in secondary and suburban markets across the United States and Canada, operating collection routes, transfer stations, and landfills. Its shares trade on NYSE under the ticker WCN.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $9.5B | $1.1B | $4.17 | $1.2B |
| 2024 | $8.9B | $617.6M | $2.39 | $1.2B |
| 2023 | $8B | $762.8M | $2.95 | $1.2B |
| 2022 | $7.2B | $835.7M | $3.24 | $1.1B |
| 2021 | $6.2B | $618M | $2.36 | $953.9M |
| 2020 | $5.4B | $204.7M | $0.78 | $811.5M |
Full financial statements: income, balance sheet and cash flow
Where WCN ranks in Utilities
Dividends
Waste Connections, Inc. paid $1.30 per share in fiscal 2025. At the current price that is a yield of 0.84%. It paid out $333.8M in cash dividends, 31% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $1.30 | $333.8M | 31% |
| 2024 | $1.17 | $302.3M | 49% |
| 2023 | $1.05 | $270.6M | 35% |
| 2022 | $0.95 | $243M | 29% |
| 2021 | $0.85 | $220.2M | 36% |
| 2020 | $0.76 | $199.9M | 98% |
Latest SEC filings
What Waste Connections, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- August 7, 2026Other event 8-K
- August 4, 2026
- July 29, 2026
- July 28, 2026
- July 28, 2026
- July 27, 2026
- July 23, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 6.4% to $2.6B versus the same quarter last year; diluted EPS $1.17 versus $1.12.
- July 22, 2026
- May 15, 2026
- April 28, 2026Passive stake (5% or more) SCHEDULE 13G
What is WCN worth? A DCF from its reported cash flow
Insider trades
What the people running Waste Connections, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $1.4M worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 19, 2026 | Nielsen III RobertSR VP Operations | Sold | 700 | $119K |
| August 18, 2026 | Rivard PhilipSR VP Business Development | Sold | 2,500 | $416.4K |
| August 13, 2026 | Netherton SusanSR VP People, Training & Dev | Sold | 1,750 | $290.5K |
| July 29, 2026 | Nielsen III RobertSR VP Operations | Sold | 300 | $51.9K |
| July 28, 2026 | Cloninger Robert MichaelSR VP, Deputy General Counsel | Sold | 2,573 | $440K |
| July 28, 2026 | Cloninger Robert MichaelSR VP, Deputy General Counsel | Sold | 238 | $40.8K |
| June 30, 2026 | Pio DomenicSR VP Operations | Other change | 95 | $15K |
| June 30, 2026 | Black Matthew StephenSr VP Chief Tax Officer | Other change | 16 | $2.5K |
Who owns WCN
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 |
|---|---|---|
| Vanguard Capital Management13G, passive | 7.78% | April 28, 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. 835 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Vanguard Capital Management LLC | 15,797,275 | -57,888 |
| Royal Bank of Canada | 13,188,665 | +978,004 |
| Vanguard Portfolio Management LLC | 11,232,978 | +97,720 |
| Bank of Montreal | 8,665,651 | +530,018 |
| 1832 Asset Management L.P. | 7,456,684 | +343,080 |
| BlackRock, Inc. | 6,370,788 | +179,224 |
| Fmr LLC | 5,341,098 | -3,623,552 |
| Capital International Investors | 4,582,617 | -645,433 |
| Aqr Capital Management LLC | 4,111,035 | +3,002,466 |
| Norges Bank | 3,957,385 | new |
| Wcm Investment Management, LLC | 3,794,258 | -81,138 |
| TD Asset Management Inc | 3,804,528 | -225,738 |
| Invesco Ltd. | 3,587,785 | +3,172,521 |
| Manufacturers Life Insurance Company, The | 3,544,278 | -179,926 |
| Two Sigma Investments, LP | 3,245,893 | -198,159 |
| Bank of America Corp | 3,062,730 | +393,622 |
| Citadel Advisors LLC | 2,890,779 | -223,171 |
| Wellington Management Group Llp | 2,867,268 | -2,067,975 |
| Connor, Clark & Lunn Investment Management Ltd. | 2,488,903 | +815,814 |
| Fiera Capital Corp | 2,484,844 | -62,225 |
Insiders
22 insiders reported holding 596,152 shares in total, about $92M at the last price.
| Holder | Shares |
|---|---|
| Mittelstaedt Ronald JPresident & CEO, Director | 301,017 |
| Whitney Mary AnneExecutive Vice President & CFO | 62,435 |
| Black Matthew StephenSr VP Chief Tax Officer | 43,530 |
| Little JamesExecutive VP Engineering | 34,395 |
| Craft JasonExecutive Vice President & COO | 32,915 |
| Shea Patrick JamesExec VP, General Counsel & Sec | 19,622 |
| Guillet Edward EDirector | 15,171 |
| Hansen EricSenior Vice President and CIO | 13,350 |
| Netherton SusanSR VP People, Training & Dev | 12,980 |
| Lee SusanDirector | 12,204 |
Questions about WCN
What does Waste Connections, Inc. do?
Waste Connections provides non-hazardous solid waste collection, transfer, disposal, and recycling services. It serves residential, commercial, industrial, and municipal customers in secondary and suburban markets across the United States and Canada, operating collection routes, transfer stations, and landfills. Its shares trade on NYSE under the ticker WCN.
What is Waste Connections, Inc.'s net worth?
Waste Connections, Inc. has a market value (market cap) of $39.4B at the latest share price, and shareholders' equity of $7.9B on its balance sheet at June 30, 2026. 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 Waste Connections, Inc. profitable?
Yes. Over the twelve months to June 30, 2026 it reported net income of $1.1B on revenue of $9.8B, a net margin of 10.9%.
How much revenue does Waste Connections, Inc. make?
Over the twelve months to June 30, 2026 Waste Connections, Inc. reported revenue of $9.8B. That is 5.7% more than a year earlier.
When did Waste Connections, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on July 23, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from August 21, 2026.
When is Waste Connections, Inc.'s next earnings report?
Waste Connections, Inc.'s next report is expected around October 20, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
Does Waste Connections, Inc. pay a dividend?
Yes. Waste Connections, Inc. paid dividends of $1.30 per share in fiscal 2025, a yield of 0.84% at the current price.
Similar companies
Compare WCN with
Follow WCN
Get an email when Waste Connections, Inc. files with the SEC: results, executive changes, material agreements and annual reports.
Follow WCN: get an email when it filesWhere the numbers come from
Financial figures are the values Waste Connections, 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.