Skip to content
OpenCapital
Get started
Income StatementBalance SheetCash FlowSegments
Waste Connections logo

Waste Connections Cash Flow Statement

Operating, investing, and financing cash movements

Waste Connections generated $2.4B in operating cash flow over the trailing twelve months. After $1.3B in capital expenditures, free cash flow was $1.2B. Free cash flow decreased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.4BNet Cash From Investing (TTM)-$1.8BNet Cash From Financing (TTM)-$569.6MCapital Expenditures (TTM)$1.3BDepreciation And Amortization Cf (TTM)$1.1BNet Change In Cash (TTM)-$385.9M
Latest FilingQ1 2026
Report Date2026-04-23
Market Cap$39.5B
P/E Ratio37.46
ROE13.37%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accretion of asset retirement obligations$8.3M$12.7M$12.8M$12.9M$13.1M$11.2M
Amortization of debt issuance costs$2M$2M$2.1M$2.2M$2.1M$2.2M
Amortization of intangible assets$60.2M$47.6M$50.2M$51.3M$52.3M$47.3M
Change in accounts payable-$8.3M$14.3M$14.3M$14.3M$14.3M—
Change in accounts receivable$2.7M$17M$17M$17M$17M—
Change in accrued liabilities$22.5M$13.6M$13.6M$13.6M$13.6M—
Change in deferred revenue$4.6M$6.8M$6.8M$6.8M$6.8M—
Change in other assets$3.6M$3.3M$3.3M$3.3M$3.3M—
Change in other liabilities-$2.8M-$4M-$4M-$4M-$4M—
Other working capital changes-$4.2M$1M$1.6M$4.4M$799K-$127K
Change in fair value of contingent consideration-$3K-$1.5M$32.1M$290K-$37.1M$0
Deferred income taxes-$138.6M$36.2M$22.1M$35.5M$22.8M$28.5M
Depreciation and amortization$261.6M$242.3M$257.4M$264M$266.8M$267.5M
Gain (loss) on sale of assets-$121.7M-$7.8M-$3.7M-$60.1M-$41.9M-$2.5M
Net cash from operating activities$568.9M$541.5M$638.2M$677.4M$556.9M$545.6M
Net income—$241.5M$290.3M$286.3M$258.5M$219.3M
Accretion Expense Including Asset Retirement Obligations$8.3M$12.7M$12.8M$12.9M$13.1M$11.2M
Adjustment To Closure Post Closure Liabilities$120.2M$0———$76.8M
Amortization expense related to capitalized debt issuance costs$2M$2M$2.1M$2.2M$2.1M$2.2M
Amortization of capitalized software and acquired intangible assets$60.2M$47.6M$50.2M$51.3M$52.3M$47.3M
Contingent consideration fair value adjustments-$3K-$1.5M$32.1M$290K-$37.1M$0
Depreciation$261.6M$242.3M$257.4M$264M$266.8M$267.5M
Gain (Loss) on Disposition of Assets-$121.7M-$7.8M-$3.7M-$60.1M-$41.9M-$2.5M
Increase Decrease In Asset Retirement Obligations-$62M-$76.4M-$76.4M-$76.4M-$76.4M—
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital—$72M$51.7M$53.4M—$139.6M
Increase (Decrease) in Prepaid Expense and Other Assets$3.6M$3.3M$3.3M$3.3M$3.3M—
Other Noncash Income (Expense)-$4.2M$1M$1.6M$4.4M$799K-$127K
Accounts Receivable, Credit Loss Expense (Reversal)$7.6M$2.5M$2.7M$4.2M$5.2M$12.1M
Provision for credit losses$7.6M$2.5M$2.7M$4.2M$5.2M$12.1M
Stock-based compensation$16.7M$23.4M$18.5M$18.5M$19M$17.6M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$110.6M$380.4M$130.3M$116.6M$190.3M$63.1M
Capital expenditures$396.7M$212.5M$285.3M$297.2M$384.3M$296.6M
Payment for (Proceeds from) Other Investing Activity$8.3M$11.3M$5.6M$3.9M$606K-$2.2M
Payments To Acquire Undeveloped Landfill Property$0$3.8M$3.8M$3.8M$3.8M—
Proceeds from disposals of property, plant and equipment$2.3M$969K$4.4M$3.7M$972K$1.8M
Net cash from investing activities-$513.4M-$603.2M-$416.8M-$413.9M-$589.3M-$355.7M
Other investing activities$8.3M$11.3M$5.6M$3.9M$606K-$2.2M
Proceeds from sale of property, plant and equipment$2.3M$969K$4.4M$3.7M$972K$1.8M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$472.3M$782.9M$830.7M$608.6M$452.1M$1.2B
Repayments of debt$485.7M$541.7M$947M$319.8M$321.4M$843.9M
Dividends paid$81M$81.5M$81.5M$81M$89.9M$88.7M
Payments Of Debt Issuance Costs$0$0$3.4M$1.4M$39K$4M
Proceeds from exercises of stock options and other stock issuances—$2.6M—$2.9M—$3M
Proceeds From Repayments Of Bank Overdrafts—-$110K$507K-$733K$382K-$6.1M
Net cash from financing activities—$113.4M-$205.9M-$239M-$28.5M-$96.1M
Other financing activities$1.1M$20.1M$2.8M$5.4M$5.9M$4.1M
Payment of debt issuance costs$0$0$3.4M$1.4M$39K$4M
Proceeds from issuance of common stock$816K$324K———$0
Taxes paid for net share settlement$725K$29M$2M$372K$503K$24.5M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$172.2M$329.1M$352.9M$380.3M$172.6M$249M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$486K-$434K$2.4M——-$690K
Net increase (decrease) in cash—$51.3M$18M$23.1M—$93.1M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$74.7M$77.1M$77.1M$77.1M$77.1M—