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Discontinued — last reported Q2 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

Other financials

Income statement

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Revenue$2.6B+6.4%
Gross profit$1.1B+6.7%
Operating income$437.6M-4.8%
Net income$296.4M+2.1%
EPS (diluted)$1.17+4.5%

Balance sheet

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Cash & equivalents$98.2M-10.9%
Total debt$9.6B+10.8%
Total equity$8.2B+4.9%
Total assets$21.4B+3.5%

Cash flow

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Operating cash flow$733.3M+14.9%
CapEx$302.4M+6.0%
Free cash flow$430.9M+22.1%

Valuation

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Market cap$42.19B-12.5%
Enterprise value$51.71B-9.0%
P/E39.8×
P/S4.3×-0.9×

Profitability

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Gross margin42.5%+0.5pp
Operating margin17%
Net margin10.9%
FCF margin12.6%+0.3pp

Returns & leverage

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Return on equity13.4%
Debt / equity1.1×0.0×
Current ratio0.7×0.0×

Where this comes from

Calculated from Waste Connections’s reported figures.

The source filing: Waste Connections’s 10-Q, filed July 23, 2026. Open the filing →

Filed
Jul 23, 2026, 6:01 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-086006

FAQ

What is Waste Connections's net debt?
Waste Connections (WCN) reported net debt of $9.53B in Q2 2026.
How has Waste Connections's net debt changed year-over-year?
Waste Connections's net debt increased by 11.1% year-over-year, from $8.57B to $9.53B.
What is the long-term trend for Waste Connections's net debt?
Over 5 years (2020 to 2025), Waste Connections's net debt has grown at a 16.3% compound annual growth rate (CAGR), from $4.28B to $9.1B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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