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Waste Connections WCN Return on invested capital

Return on invested capital at other companies

Clean Harbors logo
Clean HarborsCLH
10.2%+0.4pp
Waste Management logo
Waste ManagementWM
15.6%-23.1pp
Casella Waste Systems logo
Casella Waste SystemsCWST
2.4%+0.4pp
Republic Services logo
Republic ServicesRSG
23.7%-0.6pp
Select Water Solutions logo
Select Water SolutionsWTTR
2.8%-2.0pp
Enviri logo
EnviriNVRI
-1.8%-3.2pp

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.

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 return on invested capital?
Waste Connections (WCN) reported return on invested capital of 7.7% in Q4 2025.
What is the long-term trend for Waste Connections's return on invested capital?
Over 4 years (2020 to 2025), Waste Connections's return on invested capital has grown at a 27.0% compound annual growth rate (CAGR), from 3% to 7.7%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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