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Vivakor vs Waste Connections: revenue, profit, margins and growth compared

Vivakor brought in $104.4M of revenue in fiscal 2025, Waste Connections $9.5B in fiscal 2025. Revenue changed by +16.3% at Vivakor and +6.1% at Waste Connections on the year before, so Vivakor grew faster. Vivakor kept -105.6% of its revenue as net profit, Waste Connections 11.4%.

Side by side, latest fiscal year

VIVKWCN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$104.4M$9.5B
Revenue growth+16.3%+6.1%
Net income-$110.2M$1.1B
Net margin-105.6%11.4%
Free cash flown/a$1.2B
Free cash flow marginn/a13.0%
Earnings per share (diluted)-$318.01$4.17
Cash$265K$46M
Debtn/a$8.9B
Price to earningsn/a37.3
Market valuen/a$39.7B
Dividend yieldn/a0.83%
Rank by revenue in sector#100 of 116 · Utilities#31 of 116 · Utilities

Over the years

Revenue
VIVK FY2021: $1.5MVIVK FY2021: $1.1MVIVK FY2022: $28.1MVIVK FY2023: $59.3MVIVK FY2024: $89.8MVIVK FY2025: $104.4MWCN FY2018: $4.9BWCN FY2019: $5.4BWCN FY2020: $5.4BWCN FY2021: $6.2BWCN FY2022: $7.2BWCN FY2023: $8BWCN FY2024: $8.9BWCN FY2025: $9.5BFY18FY19FY20FY21FY22FY23FY24FY25
VIVK $104.4MWCN $9.5B
Net income
VIVK FY2021: -$2.9MVIVK FY2021: -$7.3MVIVK FY2022: -$20.2MVIVK FY2023: -$10.8MVIVK FY2024: -$26.4MVIVK FY2025: -$110.2MWCN FY2018: $546.9MWCN FY2019: $566.8MWCN FY2020: $204.7MWCN FY2021: $618MWCN FY2022: $835.7MWCN FY2023: $762.8MWCN FY2024: $617.6MWCN FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
VIVK -$110.2MWCN $1.1B
Net margin
VIVK FY2021: -197.0%VIVK FY2021: -666.6%VIVK FY2022: -72.0%VIVK FY2023: -18.3%VIVK FY2024: -29.3%VIVK FY2025: -105.6%WCN FY2018: 11.1%WCN FY2019: 10.5%WCN FY2020: 3.8%WCN FY2021: 10.0%WCN FY2022: 11.6%WCN FY2023: 9.5%WCN FY2024: 6.9%WCN FY2025: 11.4%FY18FY19FY20FY21FY22FY23FY24FY25
VIVK -105.6%WCN 11.4%
Revenue growth
VIVK FY2021: -25.3%VIVK FY2022: +2,482.4%VIVK FY2023: +111.1%VIVK FY2024: +51.4%VIVK FY2025: +16.3%WCN FY2019: +9.5%WCN FY2020: +1.1%WCN FY2021: +13.0%WCN FY2022: +17.2%WCN FY2023: +11.2%WCN FY2024: +11.2%WCN FY2025: +6.1%FY19FY20FY21FY22FY23FY24FY25
VIVK +16.3%WCN +6.1%
Free cash flow
VIVK FY2021: -$3MVIVK FY2021: -$7.1MVIVK FY2022: -$6.6MVIVK FY2023: -$4.1MWCN FY2018: $865.1MWCN FY2019: $906.1MWCN FY2020: $811.5MWCN FY2021: $953.9MWCN FY2022: $1.1BWCN FY2023: $1.2BWCN FY2024: $1.2BWCN FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25
VIVK -$4.1MWCN $1.2B

Fiscal years as each company reports them; the two may end in different months.

Questions about Vivakor and Waste Connections

Which is bigger by revenue, Vivakor or Waste Connections?

Waste Connections is bigger by revenue: $9.5B in fiscal 2025, against $104.4M for Vivakor in fiscal 2025.

Which keeps more of its revenue as profit, Vivakor or Waste Connections?

Vivakor had a net margin of -105.6% in fiscal 2025; Waste Connections had 11.4% in fiscal 2025.

Which grew revenue faster, Vivakor or Waste Connections?

In their latest fiscal years revenue changed by +16.3% at Vivakor and +6.1% at Waste Connections.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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