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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 Annual (10-K)
Showing 10 of 10 annual reports available (2016 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
+ Total Revenue $9.47B $9.47B $8.92B $8.02B $7.21B $6.15B $5.45B $5.39B $4.92B $4.63B $3.38B
Revenue Growth % 0.0% 6.1% 11.2% 11.2% 17.2% 13.0% 1.1% 9.5% 6.3% 37.2% nan%
Cost of Revenue $5.46B $5.46B $5.19B $4.74B $4.34B $3.65B $3.28B $3.20B $2.87B $2.70B $1.96B
+ Gross Profit $4.01B $4.01B $3.73B $3.28B $2.88B $2.50B $2.17B $2.19B $2.06B $1.93B $1.42B
Gross Margin % 42.4% 42.4% 41.8% 40.9% 39.9% 40.6% 39.8% 40.6% 41.8% 41.6% 42.0%
Selling General & Admin $959.54M $959.54M $883.45M $799.12M $696.47M $612.34M $537.63M $546.28M $524.39M $509.64M $474.26M
+ Operating Income $1.71B $1.71B $1.07B $1.24B $1.24B $1.04B $412.43M $837.78M $832.24M $627.10M $452.30M
Operating Margin % 18.1% 18.1% 12.0% 15.4% 17.2% 16.9% 7.6% 15.5% 16.9% 13.5% 13.4%
Interest Expense $308.32M $308.32M $298.93M $274.64M $202.33M $162.80M $162.38M $147.37M $132.10M $125.30M $92.71M
Other Income/Expense $30.16M $30.15M $10.47M $12.48M $3.15M $6.29M $-1.39M $5.70M $1.26M $3.74M $655.00K
Income Before Tax $1.42B $1.42B $762.93M $983.50M $1.05B $770.74M $253.91M $705.89M $707.14M $508.51M $361.37M
Income Tax Expense $341.36M $341.36M $146.36M $220.68M $212.96M $152.25M $49.92M $139.21M $159.99M $-68.91M $114.04M
+ Net Income $1.08B $1.08B $617.57M $762.80M $835.66M $618.05M $204.68M $566.84M $546.87M $576.82M $246.54M
Net Margin % 11.4% 11.4% 6.9% 9.5% 11.6% 10.0% 3.8% 10.5% 11.1% 12.5% 7.3%
Basic EPS 4.18 4.18 2.39 2.96 3.25 2.37 0.78 2.15 2.07 2.19 1.61
Diluted EPS 4.17 4.17 2.39 2.95 3.24 2.36 0.78 2.14 2.07 2.18 1.60
Basic Shares Outstanding - 257.3M 258.0M 257.6M 257.4M 261.2M 263.2M 263.8M 263.7M 263.7M 153.6M
Diluted Shares Outstanding - 258.0M 258.7M 258.1M 258.0M 261.7M 263.7M 264.5M 264.4M 264.3M 154.1M
Breakdown FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Cash & Cash Equivalents $45.97M $62.37M $78.40M $78.64M $147.44M $617.29M $326.74M $319.31M $433.81M $154.38M
Accounts Receivable $1.02B $935.03M $856.95M $833.86M $709.61M $630.26M $662.81M $609.54M $554.46M $485.14M
Other Current Assets $240.60M $229.52M $206.43M $205.15M $175.72M $160.71M $141.05M $164.05M $187.00M $97.53M
Total Current Assets $1.31B $1.23B $1.14B $1.12B $1.03B $1.41B $1.13B $1.09B $1.18B $832.57M
Property Plant & Equipment $8.73B $8.04B $7.23B $6.95B $5.72B $5.28B $5.52B $5.17B $4.82B $4.74B
Goodwill $8.39B $7.95B $7.40B $6.90B $6.19B $5.73B $5.51B $5.03B $4.68B $4.39B
Intangible Assets $2.01B $1.99B $1.60B $1.67B $1.35B $1.16B $1.16B $1.13B $1.09B $1.07B
Other Non-current Assets $109.15M $90.81M $100.05M $126.50M $115.20M $92.32M $85.95M $72.97M $68.03M $67.66M
Total Assets $21.13B $19.82B $17.92B $17.13B $14.70B $13.99B $13.74B $12.63B $12.01B $11.19B
Accounts Payable $765.23M $637.37M $642.46M $638.73M $392.87M $290.82M $436.97M $359.97M $330.52M $251.25M
Accrued Liabilities $810.37M $736.82M $521.43M $431.25M $442.60M $404.92M $281.31M $289.54M $278.04M $269.40M
Deferred Revenue $416.02M $382.50M $355.20M $325.00M $273.72M $233.60M $216.44M $179.28M - -
Total Current Liabilities $2.12B $1.88B $1.69B $1.51B $1.23B $1.03B $1.01B $860.71M $802.60M $692.18M
Long-term Debt $8.81B $8.07B $6.72B $6.89B $5.04B $4.71B $4.35B $4.15B $3.90B $3.62B
Deferred Tax Liabilities $1.09B $958.34M $1.02B $1.01B $850.92M $760.04M $818.62M $760.03M - -
Other Non-current Liabilities $576.34M $747.25M $524.44M $417.64M $421.08M $455.89M $416.85M $349.93M $316.19M $331.07M
Total Liabilities $12.88B $11.96B $10.22B $10.02B $7.71B $7.13B $6.80B $6.17B $5.74B $5.54B
Retained Earnings $5.20B $4.46B $4.14B $3.65B $3.06B $2.66B $2.65B $2.26B $1.86B $1.41B
Total Stockholders Equity $8.25B $7.86B $7.69B $7.11B $6.99B $6.86B $6.93B $6.45B $6.27B $5.65B
Total Liabilities & Equity $21.13B $19.82B $17.92B $17.13B $14.70B $13.99B $13.74B $12.63B $12.01B $11.19B
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Net Income $1.08B $1.08B $617.57M $762.80M $835.66M $618.05M $204.68M $566.84M $546.87M $576.82M $246.54M
Depreciation & Amortization - $1.23B $1.16B $1.00B - - - - - - -
Stock-based Compensation $144.84M $79.45M $77.89M $70.44M $63.48M $58.22M $45.75M $42.67M $43.80M $39.36M $44.77M
Deferred Income Tax $211.11M $116.65M $-57.28M $6.33M $93.48M $14.56M $-50.49M - - - -
Change in Receivables - $68.06M $10.65M $20.63M $100.55M $54.69M $-46.84M $22.93M $37.72M $38.93M $5.25M
Change in Payables - $57.08M $-33.32M $32.33M $192.85M $66.75M $-148.36M $71.15M $16.14M $50.01M $54.22M
Operating Cash Flow $4.14B $2.41B $2.23B $2.13B $2.02B $1.70B $1.41B $1.54B $1.41B $1.19B $795.31M
Capital Expenditure $1.89B $1.18B $1.06B $934.00M $912.68M $744.32M $597.05M $634.41M $546.14M $479.29M $344.72M
Acquisitions $1.71B $817.58M $2.12B $676.79M $2.21B $960.45M $388.79M $736.61M $830.09M $410.69M $17.13M
Investing Cash Flow $-3.65B $-2.02B $-3.16B $-1.58B $-3.09B $-1.69B $-1.05B $-1.43B $-1.37B $-966.23M $-296.39M
Debt Repayment $4.16B $2.13B $3.25B $2.05B $3.07B $1.89B $1.54B $1.47B $970.77M $770.11M $3.71B
Stock Issued $971.00K $323.00K $2.01M $794.00K $660.00K $430.00K $679.00K $4.04M $2.67M $10.81M $19.87M
Stock Repurchased - $505.52M - - $425.00M $338.99M $105.65M - $58.93M - -
Dividends Paid $578.23M $333.81M $302.26M $270.60M $243.01M $220.20M $199.88M $175.07M $152.55M $131.97M $92.55M
Financing Cash Flow $-339.14M $-360.04M $944.95M $-544.40M $1.03B $-499.50M $-78.22M $-95.89M $-187.58M $56.76M $-354.87M
Net Change in Cash $151.98M $31.41M $14.13M $2.67M $-38.25M $-494.77M $291.17M $19.25M $-149.45M $384.90M $147.26M
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-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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