WCN
$153.93-1.05%
as of close, Sep 30, 2026
☾ AH $153.93 -1.05%
WCN financial statements
The full income statement, balance sheet, and cash-flow statement for Waste Connections Inc. (WCN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 258.0M2024-09 258.1M2024-12 258.1M2025-03 258.4M2025-06 257.5M2025-09 256.0M2025-12 255.7M2026-03 254.1M2026-06 252.0M-2.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 9.47B+6.1% | 8.92B+11.2% | 8.02B+11.2% | 7.21B+17.2% | 6.15B+13.0% | |
| Cost of revenue | 5.46B+5.1% | 5.19B+9.4% | 4.74B+9.4% | 4.34B+18.7% | 3.65B+11.5% | |
| Selling, general & administrative | 960M+8.6% | 883M+10.6% | 799M+14.7% | 696M+13.7% | 612M+13.9% | |
| Amortization of intangibles | 202M+6.2% | 190M+20.4% | 158M+1.2% | 156M+11.8% | 139M+6.1% | |
| Provision for credit losses | 14.5M-28.4% | 20.2M+16.1% | 17.4M+0.4% | 17.4M+78.5% | 9.72M-37.3% | |
| Operating income | 1.71B+60.2% | 1.07B-13.6% | 1.24B-0.5% | 1.24B+19.5% | 1.04B+152.1% | |
| Interest expense | 335M+2.4% | 327M+19.0% | 275M+35.7% | 202M+24.3% | 163M+0.3% | |
| Other non-operating income | 30.2M+188.0% | 10.5M-16.1% | 12.5M+295.7% | 3.15M-49.8% | 6.29M+551.5% | |
| Pre-tax income | 1.42B+85.9% | 763M-22.4% | 984M-6.2% | 1.05B+36.1% | 771M+203.5% | |
| Income tax | 341M+133.2% | 146M-33.7% | 221M+3.6% | 213M+39.9% | 152M+205.0% | |
| 1.08B+74.3% | 618M-19.0% | 763M-8.7% | 836M+35.2% | 618M+202.0% | ||
| Net income to non-controlling interest | 0.00+100.0% | -1.00M-3957.7% | 26.0K-92.3% | 339K-23.3% | 442K+164.5% | |
| $4.17+74.5% | $2.39-19.0% | $2.95-9.0% | $3.24+37.3% | $2.36+202.6% | ||
| EPS (basic) | $4.18+74.9% | $2.39-19.3% | $2.96-8.9% | $3.25+37.1% | $2.37+203.8% | |
| Weighted-avg shares (basic) | 257M-0.2% | 258M+0.2% | 258M+0.1% | 257M-1.4% | 261M-0.8% | |
| Weighted-avg shares (diluted) | 258M-0.3% | 259M+0.2% | 258M+0.0% | 258M-1.4% | 262M-0.7% | |
| Dividends per share | $1.29+10.7% | $1.17+11.4% | $1.05+11.1% | $0.94+11.8% | $0.84+11.2% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.31B+6.9% | 1.23B+7.5% | 1.14B+2.2% | 1.12B+8.2% | 1.03B-26.7% | ||
| Cash & equivalents | 46.0M-26.3% | 62.4M-20.5% | 78.4M-0.3% | 78.6M-46.7% | 147M-76.1% | |
| Accounts receivable | 1.02B+9.6% | 935M+9.1% | 857M+2.8% | 834M+17.5% | 710M+12.6% | |
| Prepaid expenses | 241M+4.8% | 230M+11.2% | 206M+0.6% | 205M+16.7% | 176M+9.3% | |
| 21.1B+6.6% | 19.8B+10.6% | 17.9B+4.6% | 17.1B+16.6% | 14.7B+5.1% | ||
| Property, plant & equipment | 8.73B+8.7% | 8.04B+11.2% | 7.23B+4.0% | 6.95B+21.5% | 5.72B+8.3% | |
| Operating lease right-of-use | 313M+1.4% | 308M+17.7% | 262M+36.0% | 193M+19.9% | 161M-6.1% | |
| Goodwill | 8.39B+5.6% | 7.95B+7.4% | 7.40B+7.3% | 6.90B+11.5% | 6.19B+8.0% | |
| Intangible assets | 2.01B+0.7% | 1.99B+24.2% | 1.60B-4.2% | 1.67B+23.9% | 1.35B+16.9% | |
| Other non-current assets | 109M+20.2% | 90.8M-9.2% | 100M-20.9% | 126M+9.8% | 115M+24.8% | |
| 2.12B+13.1% | 1.88B+11.3% | 1.69B+11.6% | 1.51B+22.7% | 1.23B+19.8% | ||
| Accounts payable | 765M+20.1% | 637M-0.8% | 642M+0.6% | 639M+62.6% | 393M+35.1% | |
| Accrued liabilities | 810M+10.0% | 737M+41.3% | 521M+20.9% | 431M-2.6% | 443M+9.3% | |
| Deferred revenue | 416M+8.8% | 383M+7.7% | 355M+9.3% | 325M+18.7% | 274M+17.2% | |
| Short-term & current debt | 8.67M+10.4% | 7.85M-70.3% | 26.5M+291.5% | 6.76M+12.3% | 6.02M-27.2% | |
| Current lease liability | 44.3M+9.3% | 40.5M+24.5% | 32.5M-7.5% | 35.2M-7.5% | 38.0M+24.0% | |
| Finance lease liability (current) | 4.58M+26.2% | 3.63M+21.9% | 2.98M+10.5% | 2.69M+30.8% | 2.06M+215.1% | |
| 12.9B+7.7% | 12.0B+17.0% | 10.2B+2.0% | 10.0B+30.0% | 7.71B+8.1% | ||
| Long-term debt | 8.81B+9.1% | 8.07B+20.0% | 6.72B-2.4% | 6.89B+36.7% | 5.04B+7.0% | |
| Non-current lease liability | 267M-1.9% | 272M+14.1% | 238M+44.1% | 165M+27.6% | 130M-12.0% | |
| Operating lease liability (total) | 311M-0.4% | 313M+15.4% | 271M+35.1% | 201M+19.7% | 168M-5.8% | |
| Finance lease liability (total) | 16.0M+72.7% | 9.25M-7.8% | 10.0M-12.5% | 11.5M+9.0% | 10.5M+180.2% | |
| Finance lease liability | 11.4M+102.8% | 5.62M-20.4% | 7.06M-19.5% | 8.77M+3.7% | 8.46M+172.8% | |
| Deferred tax liabilities | 1.09B+13.3% | 958M-6.3% | 1.02B+0.9% | 1.01B+19.1% | 851M+12.0% | |
| Other non-current liabilities | 576M-22.9% | 747M+42.5% | 524M+25.6% | 418M-0.8% | 421M-7.6% | |
| 8.25B+4.9% | 7.86B+2.2% | 7.69B+8.2% | 7.11B+1.7% | 6.99B+1.9% | ||
| Additional paid-in capital | 373M+14.5% | 326M+14.6% | 284M+16.5% | 244M+22.4% | 199M+17.0% | |
| Retained earnings | 5.20B+16.7% | 4.46B+7.6% | 4.14B+13.5% | 3.65B+19.4% | 3.06B+15.0% | |
| Treasury stock | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Accumulated other comprehensive income | -111M+46.0% | -206M-1993.8% | -9.83M+82.7% | -56.8M-243.6% | 39.6M+6180.5% | |
| Non-controlling interest | 0.00 | 0.00-100.0% | 4.97M+0.5% | 4.95M+7.4% | 4.61M+10.6% | |
| Total equity incl. non-controlling | 8.25B+4.9% | 7.86B+2.1% | 7.70B+8.2% | 7.11B+1.7% | 6.99B+1.9% | |
| Total liabilities & equity | 21.1B+6.6% | 19.8B+10.6% | 17.9B+4.6% | 17.1B+16.6% | 14.7B+5.1% | |
| Common shares issued | 256M-0.9% | 258M+0.2% | 258M+0.2% | 257M-1.2% | 260M-1.0% | |
| Common shares outstanding | 256M-0.9% | 258M+0.2% | 258M+0.2% | 257M-1.2% | 260M-1.0% | |
| Shares outstanding (cover) | 256M-0.9% | 258M+0.2% | 258M+0.2% | 257M-0.0% | 257M-1.9% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.41B+8.3% | 2.23B+4.8% | 2.13B+5.2% | 2.02B+19.1% | 1.70B+20.6% | ||
| Depreciation & amortization | 1.23B+5.9% | 1.16B+16.0% | 1.00B+9.2% | 919M+13.0% | 813M+8.1% | |
| Intangible amortization | 202M+6.2% | 190M+20.4% | 158M+1.2% | 156M+11.8% | 139M+6.1% | |
| Share-based compensation | 79.4M+2.0% | 77.9M+10.6% | 70.4M+10.9% | 63.5M+9.0% | 58.2M+27.3% | |
| Deferred income taxes | 117M+303.6% | -57.3M-1005.1% | 6.33M-93.2% | 93.5M+541.9% | 14.6M+128.8% | |
| Change in receivables | 68.1M+539.3% | 10.6M-48.4% | 20.6M-79.5% | 101M+83.9% | 54.7M+274.5% | |
| Change in payables | 57.1M+271.3% | -33.3M-203.1% | 32.3M-83.2% | 193M+188.9% | 66.8M+145.0% | |
| -2.02B+36.0% | -3.16B-99.8% | -1.58B+48.8% | -3.09B-82.3% | -1.69B-61.9% | ||
| Capital expenditure | 1.18B+11.7% | 1.06B+13.1% | 934M+2.3% | 913M+22.6% | 744M+24.7% | |
| Free cash flow | 1.23B+5.3% | 1.17B-1.7% | 1.19B+7.5% | 1.11B+16.3% | 954M+17.6% | |
| Acquisitions | 818M-61.5% | 2.12B+213.4% | 677M-69.3% | 2.21B+129.8% | 960M+147.0% | |
| Proceeds from sale of PP&E | 10.1M+28.1% | 7.90M-75.0% | 31.6M+3.0% | 30.7M-28.3% | 42.8M+124.1% | |
| Other investing activities | 21.4M-21.3% | 27.2M+1357.6% | 1.87M+207.9% | -1.73M-126.7% | 6.49M-44.9% | |
| -360M-138.1% | 945M+273.6% | -544M-152.9% | 1.03B+305.9% | -499M-538.5% | ||
| Long-term debt issued | 2.67B-41.4% | 4.56B+151.0% | 1.82B-62.2% | 4.82B+128.0% | 2.11B+16.3% | |
| Long-term debt repaid | 2.13B-34.4% | 3.25B+58.1% | 2.05B-33.2% | 3.07B+62.4% | 1.89B+22.7% | |
| Common stock issued | 323K-84.0% | 2.01M+153.7% | 794K+20.3% | 660K+53.5% | 430K-36.7% | |
| Common stock repurchased | 506M | 0.00 | 0.00-100.0% | 425M+25.4% | 339M+220.9% | |
| Dividends paid | 334M+10.4% | 302M+11.7% | 271M+11.4% | 243M+10.4% | 220M+10.2% | |
| Other financing activities | 0.00+100.0% | -4.00M | 0.00 | — | — | |
| FX effect on cash | 622K+210.9% | -561K-141.8% | 1.34M+165.9% | -2.04M-8040.0% | -25.0K-100.4% | |
| Net change in cash | 31.4M+122.2% | 14.1M+428.6% | 2.67M+107.0% | -38.3M+92.3% | -495M-269.9% | |
| Interest paid | 308M+3.1% | 299M+14.6% | 261M+47.1% | 177M+12.7% | 157M+10.7% | |
| Income taxes paid | 221M+2.3% | 216M+4.3% | 207M+106.7% | 100M-31.5% | 146M+39.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 44.8B+1.3% | 44.3B+15.1% | 38.5B+12.8% | 34.1B-2.8% | 35.1B+30.4% | |
| P/E | 41.6×-41.9% | 71.7×+54.8% | 46.3×+9.7% | 42.2×-25.6% | 56.7×-56.8% | |
| P/S | 4.7×-4.6% | 5.0×+1.4% | 4.9×+0.0% | 4.9×-14.2% | 5.7×+15.4% | |
| P/B | 5.4×-3.5% | 5.6×+11.1% | 5.1×+3.2% | 4.9×-2.1% | 5.0×+28.0% | |
| P/FCF | 36.3×-3.8% | 37.8×+16.2% | 32.5×-0.4% | 32.6×-11.3% | 36.8×+10.9% | |
| Earnings yield | 2.4%+72.2% | 1.4%-35.4% | 2.2%-8.8% | 2.4%+34.4% | 1.8%+131.6% | |
| FCF yield | 2.8%+4.0% | 2.6%-13.9% | 3.1%+0.4% | 3.1%+12.7% | 2.7%-9.8% | |
| Dividend yield | 0.74%+8.3% | 0.68%-3.1% | 0.70%-1.3% | 0.71%+15.0% | 0.62%-16.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: WCN’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all WCN filings on SEC EDGAR → Not investment advice.