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Waste Connections WCN Operating margin

Operating margin at other companies

Clean Harbors logo
Clean HarborsCLH
11.8%+0.9pp
Waste Management logo
Waste ManagementWM
17.6%0.0pp
Casella Waste Systems logo
Casella Waste SystemsCWST
3.5%-0.7pp
Republic Services logo
Republic ServicesRSG
19.9%-0.3pp
Select Water Solutions logo
Select Water SolutionsWTTR
2.3%-2.1pp
Enviri logo
EnviriNVRI
4%+1.8pp

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
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.

Based on trailing twelve months.

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 operating margin?
Waste Connections (WCN) reported operating margin of 17% in Q2 2026.
What is the long-term trend for Waste Connections's operating margin?
Over 4 years (2020 to 2025), Waste Connections's operating margin has grown at a 24.3% compound annual growth rate (CAGR), from 7.6% to 18.1%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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