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WASTE CONNECTIONS, INC.

CIK: 1318220 SIC: 4953
$9.47B
Revenue
$1.08B
Net Income
42.37%
Gross Margin
18.06%
Op. Margin
$2.25B
Free Cash Flow
Financial Statements Quarterly (10-Q)
Showing 14 of 29 quarterly reports available
Breakdown Q4 2025
(Dec 31, 2025)
Q3 2025
(Sep 30, 2025)
Q2 2025
(Jun 30, 2025)
Q1 2025
(Mar 31, 2025)
Q4 2024
(Dec 31, 2024)
Q3 2024
(Sep 30, 2024)
Q2 2024
(Jun 30, 2024)
Q1 2024
(Mar 31, 2024)
Q4 2023
(Dec 31, 2023)
Q3 2023
(Sep 30, 2023)
Q2 2023
(Jun 30, 2023)
Q1 2023
(Mar 31, 2023)
Q4 2022
(Dec 31, 2022)
Q3 2022
(Sep 30, 2022)
+ Total Revenue $2.37B $2.46B $2.41B $2.23B $2.26B $2.34B $2.25B $2.07B $2.04B $2.06B $2.02B $1.90B $1.87B $1.88B
Revenue Growth % (YoY) 5.0% 5.1% 7.1% 7.5% 11.0% 13.3% 11.2% 9.1% 8.9% 9.8% nan% nan% nan% nan%
Cost of Revenue $1.36B $1.41B $1.39B $1.29B $1.32B $1.34B $1.30B $1.22B $1.20B $1.20B $1.20B $1.15B $1.14B $1.12B
+ Gross Profit $1.01B $1.05B $1.01B $936.73M $935.51M $994.41M $947.10M $850.87M $839.99M $860.14M $823.75M $753.56M $731.33M $759.24M
Gross Margin % 42.5% 42.8% 42.1% 42.0% 41.4% 42.5% 42.1% 41.1% 41.3% 41.7% 40.8% 39.7% 39.1% 40.4%
Selling General & Admin $229.97M $236.48M $242.97M $250.13M $211.34M $222.53M $228.85M $220.74M $192.75M $196.32M $216.38M $193.67M $177.76M $186.89M
+ Operating Income $420.83M $439.59M $459.55M $390.21M $-199.19M $475.34M $424.70M $366.80M $224.52M $352.98M $344.13M $314.69M $311.97M $326.77M
Operating Margin % 17.7% 17.9% 19.1% 17.5% -8.8% 20.3% 18.9% 17.7% 11.0% 17.1% 17.0% 16.6% 16.7% 17.4%
Interest Expense $60.24M $84.45M $82.75M $80.88M $54.55M $83.52M $82.38M $78.49M $69.73M $69.02M $67.55M $68.35M $64.77M $51.16M
Other Income/Expense $3.69M $14.54M $10.05M $1.87M $-2.26M $4.90M $9.65M $-1.82M $4.13M $5.37M $-200.00K $3.17M $781.00K $8.49M
Income Before Tax $341.01M $374.77M $389.16M $312.98M $-281.65M $400.06M $355.98M $288.54M $161.39M $292.17M $277.72M $252.22M $251.36M $285.88M
Income Tax Expense $82.51M $88.50M $98.88M $71.47M $-85.64M $92.01M $80.58M $59.41M $34.76M $62.98M $68.55M $54.39M $57.06M $48.75M
+ Net Income $258.50M $286.27M $290.28M $241.51M $-196.00M $308.05M $275.48M $230.05M $126.75M $229.03M $209.21M $197.81M $194.35M $236.91M
Net Margin % 10.9% 11.6% 12.1% 10.8% -8.7% 13.2% 12.3% 11.1% 6.2% 11.1% 10.4% 10.4% 10.4% 12.6%
Basic EPS 1.01 1.11 1.12 0.94 -0.76 1.19 1.07 0.89 0.49 0.89 0.81 0.77 0.76 0.92
Diluted EPS 1.01 1.11 1.12 0.93 -0.76 1.19 1.07 0.89 0.49 0.89 0.81 0.77 0.75 0.92
Basic Shares Outstanding - 256.9M 258.4M 258.2M 26K 258.0M 258.0M 257.8M 16K 257.6M 257.6M 257.4M -55K 257.2M
Diluted Shares Outstanding - 257.6M 259.0M 258.9M 60K 258.8M 258.6M 258.5M 39K 258.2M 258.1M 258.0M -22K 257.9M
Breakdown Q4 2025
(Dec 31, 2025)
Q3 2025
(Sep 30, 2025)
Q2 2025
(Jun 30, 2025)
Q1 2025
(Mar 31, 2025)
Q4 2024
(Dec 31, 2024)
Q3 2024
(Sep 30, 2024)
Q2 2024
(Jun 30, 2024)
Q1 2024
(Mar 31, 2024)
Q4 2023
(Dec 31, 2023)
Q3 2023
(Sep 30, 2023)
Q2 2023
(Jun 30, 2023)
Q1 2023
(Mar 31, 2023)
Q4 2022
(Dec 31, 2022)
Q3 2022
(Sep 30, 2022)
Cash & Cash Equivalents $45.97M $117.60M $110.17M $111.23M $62.37M $115.27M $78.66M $111.98M $78.40M $96.19M $91.71M $133.86M $78.64M $200.18M
Accounts Receivable $1.02B $1.07B $1.03B $952.01M $935.03M $990.90M $961.49M $896.68M $856.95M $868.09M $855.48M $814.68M $833.86M $810.93M
Other Current Assets $240.60M $216.40M $207.66M $217.80M $229.52M $248.97M $195.56M $208.39M $206.43M $187.44M $164.49M $185.72M $205.15M $219.20M
Total Current Assets $1.31B $1.40B $1.35B $1.28B $1.23B $1.36B $1.24B $1.22B $1.14B $1.15B $1.11B $1.13B $1.12B $1.23B
Property Plant & Equipment $8.73B $8.42B $8.38B $8.22B $8.04B $8.23B $7.90B $7.83B $7.23B $7.10B $7.03B $6.96B $6.95B $6.35B
Goodwill $8.39B $8.28B $8.22B $8.06B $7.95B $7.92B $7.70B $7.60B $7.40B $7.31B $6.99B $6.94B $6.90B $6.57B
Intangible Assets $2.01B $2.00B $2.06B $2.07B $1.99B $1.98B $1.89B $1.88B $1.60B $1.62B $1.66B $1.70B $1.67B $1.49B
Other Non-current Assets $109.15M $107.92M $105.23M $103.29M $90.81M $86.09M $84.69M $110.19M $100.05M $108.65M $130.96M $122.44M $126.50M $127.91M
Total Assets $21.13B $20.78B $20.68B $20.25B $19.82B $20.10B $19.30B $19.08B $17.92B $17.73B $17.36B $17.23B $17.13B $16.13B
Accounts Payable $765.23M $759.27M $729.89M $625.58M $637.37M $706.28M $663.16M $589.86M $642.46M $604.54M $539.22M $526.23M $638.73M $507.90M
Accrued Liabilities $810.37M $762.14M $705.55M $690.22M $736.82M $552.74M $569.73M $507.26M $521.43M $446.44M $452.95M $390.19M $431.25M $457.90M
Deferred Revenue $416.02M $411.58M $412.42M $404.38M $382.50M $377.48M $375.63M $370.38M $355.20M $342.73M $341.41M $336.61M $325.00M $306.02M
Total Current Liabilities $2.12B $2.09B $2.00B $1.83B $1.88B $1.75B $1.77B $1.63B $1.69B $1.58B $1.46B $1.38B $1.51B $1.38B
Long-term Debt $8.81B $8.62B $8.34B $8.39B $8.07B $8.16B $7.70B $7.80B $6.72B $6.80B $6.68B $6.92B $6.89B $6.21B
Deferred Tax Liabilities $1.09B $1.07B $1.04B $1.01B $958.34M $1.10B $1.07B $1.05B $1.02B $1.05B $1.05B $1.04B $1.01B $986.25M
Other Non-current Liabilities $576.34M $621.80M $651.78M $716.18M $747.25M $517.30M $491.86M $542.24M $524.44M $451.52M $460.30M $451.57M $417.64M $415.66M
Total Liabilities $12.88B $12.69B $12.32B $12.24B $11.96B $11.83B $11.32B $11.29B $10.22B $10.14B $9.90B $9.99B $10.02B $9.19B
Retained Earnings $5.20B $5.03B $4.83B $4.62B $4.46B $4.73B $4.50B $4.30B $4.14B $4.09B $3.93B $3.78B $3.65B $3.52B
Total Stockholders Equity $8.25B $8.09B $8.35B $8.01B $7.86B $8.26B $7.98B $7.79B $7.69B $7.59B $7.45B $7.23B $7.11B $6.94B
Total Liabilities & Equity $21.13B $20.78B $20.68B $20.25B $19.82B $20.10B $19.30B $19.08B $17.92B $17.73B $17.36B $17.23B $17.13B $16.13B
Breakdown Q4 2025
(Dec 31, 2025)
Q3 2025
(Sep 30, 2025)
Q2 2025
(Jun 30, 2025)
Q1 2025
(Mar 31, 2025)
Q4 2024
(Dec 31, 2024)
Q3 2024
(Sep 30, 2024)
Q2 2024
(Jun 30, 2024)
Q1 2024
(Mar 31, 2024)
Q4 2023
(Dec 31, 2023)
Q3 2023
(Sep 30, 2023)
Q2 2023
(Jun 30, 2023)
Q1 2023
(Mar 31, 2023)
Q4 2022
(Dec 31, 2022)
Q3 2022
(Sep 30, 2022)
Net Income $258.50M $286.27M $290.28M $241.51M $-196.00M $813.58M $505.53M $230.05M $126.75M $636.05M $407.02M $197.81M $194.35M $641.31M
Stock-based Compensation $19.02M $60.43M $41.96M $23.44M $16.66M $61.23M $40.81M $21.95M $14.33M $56.11M $41.47M $18.47M $15.09M $48.40M
Deferred Income Tax $22.82M $93.84M $58.29M $36.16M $-138.56M $81.27M $47.59M $30.39M $-22.73M $29.06M $31.43M $28.23M $2.38M $91.10M
Change in Working Capital - $177.12M $123.73M $72.03M - $149.83M $73.11M $75.76M - $-2.07M $-12.16M $52.60M - $-15.54M
Operating Cash Flow $556.88M $1.86B $1.18B $541.54M $568.93M $1.66B $1.10B $490.31M $555.94M $1.57B $1.02B $442.36M $522.36M $1.50B
Capital Expenditure $384.29M $794.94M $497.76M $212.46M $396.69M $659.30M $387.17M $169.95M $318.45M $615.55M $394.14M $175.79M $294.36M $618.31M
Acquisitions $190.27M $627.31M $510.74M $380.42M $110.60M $2.01B $1.44B $1.16B $103.61M $573.18M $213.15M $144.61M $933.99M $1.27B
Investing Cash Flow $-589.33M $-1.43B $-1.02B $-603.21M $-513.37M $-2.65B $-1.79B $-1.33B $-395.47M $-1.19B $-604.62M $-317.76M $-1.23B $-1.86B
Debt Repayment $321.37M $1.81B $1.49B $541.74M $485.74M $2.76B $2.23B $1.35B $668.74M $1.38B $768.06M $320.03M $1.02B $2.05B
Stock Issued $-1.00K $324.00K $324.00K $324.00K $816.00K $1.20M $286.00K $286.00K $29.00K $765.00K $765.00K $765.00K - $660.00K
Stock Repurchased $63.34M $442.18M $389.00K - - - - - - - - - - $425.00M
Dividends Paid $89.86M $243.95M $162.95M $81.48M $81.00M $221.25M $147.27M $73.57M $73.79M $196.81M $131.14M $65.79M $65.30M $177.71M
Financing Cash Flow $-28.55M $-331.49M $-92.48M $113.38M $-95.41M $1.04B $701.88M $878.48M $-177.87M $-366.54M $-389.27M $-65.42M $578.05M $450.42M
Net Change in Cash $-61.01M $92.41M $69.30M $51.27M $-40.34M $54.47M $8.37M $33.63M $-14.99M $17.67M $22.97M $59.12M $-127.01M $88.76M
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Total Revenue $2.46B - $7.09B -
Cost of Revenue $1.41B - $4.09B -
Selling General & Admin $236.48M - $729.58M -
Operating Income $439.59M - $1.29B -
Interest Expense $84.45M - $248.07M -
Other Income/Expense $14.54M - $26.46M -
Income Before Tax $374.77M - $1.08B -
Income Tax Expense $88.50M - $258.85M -
Net Income $286.27M $275.40M $818.06M -
Basic EPS 1.11 - 3.17 -
Diluted EPS 1.11 - 3.16 -
Basic Shares Outstanding $256.95M - $257.84M -
Diluted Shares Outstanding $257.58M - $258.48M -
Condensed Consolidated Balance Sheets
Description Sep 30, 2025 Dec 31, 2024
Cash & Cash Equivalents $117.60M $62.37M
Accounts Receivable $1.07B $935.03M
Other Current Assets $216.40M $229.52M
Total Current Assets $1.40B $1.23B
Property Plant & Equipment $8.42B $8.04B
Goodwill $8.28B $7.95B
Intangible Assets $2.00B $1.99B
Other Non-current Assets $107.92M $90.81M
Total Assets $20.78B $19.82B
Accounts Payable $759.27M $637.37M
Accrued Liabilities $762.14M $736.82M
Deferred Revenue $411.58M $382.50M
Total Current Liabilities $2.09B $1.88B
Long-term Debt $8.62B $8.07B
Deferred Tax Liabilities $1.07B $958.34M
Other Non-current Liabilities $621.80M $747.25M
Total Liabilities $12.69B $11.96B
Retained Earnings $5.03B $4.46B
Total Stockholders Equity $8.09B $7.86B
Total Liabilities & Equity $20.78B $19.82B
Condensed Consolidated Statements of Cash Flows
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $286.27M $275.40M $818.06M -
Stock-based Compensation - - $60.43M -
Deferred Income Tax - - $93.84M -
Change in Working Capital - - $177.12M -
Operating Cash Flow - - $1.86B -
Capital Expenditure - - $794.94M -
Acquisitions - - $627.31M -
Investing Cash Flow - - $-1.43B -
Debt Repayment - - $1.81B -
Stock Issued - - $324.00K -
Stock Repurchased - - $442.18M -
Dividends Paid - - $243.95M -
Financing Cash Flow - - $-331.49M -
Net Change in Cash - - $92.41M -

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-Q filings.

Quarterly data represents single quarter results (Q1-Q4). Some items may show year-to-date values if quarterly breakdown is unavailable.

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