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Waste Connections Inc (WCN)



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Upturn Advisory Summary
04/01/2025: WCN (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit 7.77% | Avg. Invested days 43 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 50.72B USD | Price to earnings Ratio 82.57 | 1Y Target Price 199.61 |
Price to earnings Ratio 82.57 | 1Y Target Price 199.61 | ||
Volume (30-day avg) 976720 | Beta 0.8 | 52 Weeks Range 159.53 - 197.74 | Updated Date 04/1/2025 |
52 Weeks Range 159.53 - 197.74 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 0.65% | Basic EPS (TTM) 2.38 |
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 6.92% | Operating Margin (TTM) -2.99% |
Management Effectiveness
Return on Assets (TTM) 4.06% | Return on Equity (TTM) 7.93% |
Valuation
Trailing PE 82.57 | Forward PE 25.91 | Enterprise Value 59047332652 | Price to Sales(TTM) 5.69 |
Enterprise Value 59047332652 | Price to Sales(TTM) 5.69 | ||
Enterprise Value to Revenue 6.62 | Enterprise Value to EBITDA 26.2 | Shares Outstanding 258084992 | Shares Floating 257205129 |
Shares Outstanding 258084992 | Shares Floating 257205129 | ||
Percent Insiders 0.21 | Percent Institutions 89.12 |
Analyst Ratings
Rating 3.87 | Target Price 198.05 | Buy 5 | Strong Buy 9 |
Buy 5 | Strong Buy 9 | ||
Hold 7 | Sell 1 | Strong Sell 1 | |
Strong Sell 1 |
Upturn AI SWOT
Waste Connections Inc

Company Overview
History and Background
Waste Connections Inc. was founded in 1997. It has grown through strategic acquisitions and organic growth to become a leading integrated solid waste services company. Key milestones include numerous acquisitions expanding its geographic footprint and service offerings.
Core Business Areas
- Solid Waste Collection: Residential, commercial, and industrial solid waste collection services, including the provision of containers and collection vehicles.
- Landfill Disposal: Operation of landfills for the disposal of solid waste. This includes landfill airspace management and environmental monitoring.
- Recycling: Processing and marketing of recyclable materials collected from residential, commercial, and industrial sources.
- Resource Recovery: Development and operation of facilities that convert waste into energy or other valuable products.
Leadership and Structure
Ronald J. Mittelstaedt is the Executive Chairman. Worthing F. Jackman is the President and CEO. The company has a typical corporate structure with executive leadership, regional vice presidents, and functional department heads (e.g., finance, operations, legal).
Top Products and Market Share
Key Offerings
- Competitors: Republic Services, Waste Management
- Solid Waste Collection: Collection services account for a significant portion of Waste Connections' revenue. Competitors include Republic Services and Waste Management. Market share information is difficult to pinpoint exactly without proprietary data, but industry analysis suggests it to be substantial across the markets it services.
- Competitors: Republic Services, Waste Management
- Landfill Disposal: Landfill disposal is another major revenue stream, with gate fees providing consistent income. Waste Management is a primary competitor in this segment.
- Competitors: Sims Metal Management, Schnitzer Steel
- Recycling Services: Revenue is generated by the sale of processed recyclables, albeit more volatile compared to landfill revenue. Competitors include Sims Metal Management and other regional recycling companies.
Market Dynamics
Industry Overview
The solid waste industry is relatively stable, driven by consistent demand for waste management services. It is subject to regulatory oversight and increasingly focused on sustainability and resource recovery.
Positioning
Waste Connections is positioned as a leading integrated solid waste services company, known for its operational efficiency, decentralized management, and focus on secondary and rural markets. This focus differentiates it from larger competitors like Waste Management.
Total Addressable Market (TAM)
The TAM for the waste management industry is estimated to be in the hundreds of billions of dollars globally. Waste Connections is well-positioned to capture a significant portion of this market, particularly through continued organic growth and strategic acquisitions.
Upturn SWOT Analysis
Strengths
- Strong financial performance
- Experienced management team
- Decentralized operating model
- Strategic focus on secondary and rural markets
- Proven acquisition strategy
Weaknesses
- Exposure to commodity price fluctuations in recycling operations
- Potential environmental liabilities
- Dependence on regulatory approvals
- Geographic concentration risk (though mitigated through diversification)
Opportunities
- Further expansion through acquisitions
- Increased focus on resource recovery and waste-to-energy technologies
- Growing demand for sustainable waste management solutions
- Expansion into new geographic markets
Threats
- Economic downturns impacting waste volumes
- Increased competition from larger players
- Changes in environmental regulations
- Rising fuel and labor costs
Competitors and Market Share
Key Competitors
- WM
- RSG
Competitive Landscape
Waste Connections differentiates itself by focusing on secondary markets and maintaining a decentralized operating model. WM and RSG have a larger overall market share but less concentration in specific areas.
Major Acquisitions
Secure Energy Services' Waste Treatment and Disposal Assets in Canada
- Year: 2021
- Acquisition Price (USD millions): 775
- Strategic Rationale: Enhanced Waste Connections' disposal capacity and solidified its position in the Canadian market.
Growth Trajectory and Initiatives
Historical Growth: Waste Connections Inc. has demonstrated a consistent history of growth through both organic expansion and strategic acquisitions.
Future Projections: Analyst estimates often project continued revenue and earnings growth for Waste Connections Inc., driven by industry trends and the company's strategic initiatives.
Recent Initiatives: Recent initiatives may include acquisitions of smaller waste management companies, investments in new technologies for resource recovery, and expansions into new geographic markets.
Summary
Waste Connections is a robust player in the solid waste management industry with a decentralized approach which it uses to efficiently service many locations. Its acquisition strategy contributes significantly to its growth. While regulatory changes and economic downturns pose potential risks, Waste Connections' strong financial performance and strategic focus positions it favorably for future success. Continued focus on resource recovery and sustainable practices will be beneficial going forward.
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WM

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WM

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Sources and Disclaimers
Data Sources:
- Company SEC Filings
- Industry Reports
- Financial News Outlets
- Analyst Estimates
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Market data and analyst estimates are subject to change.
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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