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Waste Connections WCN Net debt / EBITDA

Net debt / EBITDA at other companies

Waste Management logo
Waste ManagementWM
0.2×0.0×
Republic Services logo
Republic ServicesRSG
-0×0.0×
EMCOR Group logo
EMCOR GroupEME
-0.2×+0.4×
Williams Companies logo
Williams CompaniesWMB
4.8×+1.1×
Texas Pacific Land logo
Texas Pacific LandTPL
-0.3×
Enterprise Products Partners logo
Enterprise Products PartnersEPD
4.5×+0.2×

Other financials

Income statement

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Revenue$2.4B+6.4%
Gross profit$1.0B+7.8%
Operating income$364.1M-6.7%
Net income$219.3M-9.2%
EPS (diluted)$0.86-7.5%

Balance sheet

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Cash & equivalents$112.4M+1.1%
Total debt$9.4B+8.4%
Total assets$21.2B+4.6%

Cash flow

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Operating cash flow$545.6M+0.8%
CapEx$296.6M+39.6%
Free cash flow$249.0M-24.3%

Valuation

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Market cap$39.41B-17.6%
Enterprise value$48.74B-13.8%
P/E37.4×
P/S4.1×-1.2×

Profitability

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Gross margin42.5%+0.5pp
Operating margin17.5%
Net margin11%

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.

Based on the most recent quarter.

The official record: Waste Connections’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Waste Connections's net debt / EBITDA?
Waste Connections (WCN) reported net debt / EBITDA of 3.2× in Q1 2026.
What is the long-term trend for Waste Connections's net debt / EBITDA?
Over 2 years (2021 to 2023), Waste Connections's net debt / EBITDA has grown at a 4.2% compound annual growth rate (CAGR), from 11.3× to 12.3×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.