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Companies / Industrials / Waste Connections, Inc.
WCN

Waste Connections, Inc.

IndustrialsElectric, Gas & Water
Ticker WCNTHE WOODLANDS, TXFiscal year ends DecemberBook value per share $31.06Diluted shares 253.9M

Waste Connections, Inc. (NYSE: WCN) provides non-hazardous waste collection, transfer and disposal services, including rail transport, and resource recovery through recycling and renewable-fuel generation. It also treats, recovers and disposes of non-hazardous oil and natural gas exploration and production waste, and… From the company’s description.

Over the twelve months to Sep 30, 2026, Waste Connections, Inc. reported revenue of $9.94B, up 6.3% from a year earlier, and net income of $1.13B. Its operating margin was 17.7%, and operations generated $2.53B in cash. In fiscal 2025, it reported revenue of $9.47B, up 6.1% from fiscal 2024, and net income of $1.08B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$9.47BFY2025
+6.1% year over year
Last 12 mo $9.94B
18.06%FY2025
+6.1 percentage points
Last 12 mo 17.74%
$1.08BFY2025
+74.6% year over year
Last 12 mo $1.13B
13.06%FY2025
+5.2 percentage points
Last 12 mo 14.38%
Cash & financing
$2.41BFY2025
+8.3% year over year
Last 12 mo $2.53B
$1.22BFY2025
+4.0% year over year
Last 12 mo $1.18B
1.07FY2025
Was 1.03× a year earlier
Last 12 mo 1.20
258.0MFY2025
−0.3% year over year
Last 12 mo 253.9M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Waste Connections, Inc. does

In the company’s own words

Waste Connections, Inc. (NYSE: WCN) provides non-hazardous waste collection, transfer and disposal services, including rail transport, and resource recovery through recycling and renewable-fuel generation. It also treats, recovers and disposes of non-hazardous oil and natural gas exploration and production waste, and provides intermodal cargo and container transportation in the Pacific Northwest. Its customers include residential, commercial, municipal, industrial and oil and gas exploration and production customers. The company operates in 46 U.S. states and six Canadian provinces and manages its business through six geographic operating segments. Its services include landfill and transfer station operations, recycling, landfill-gas recovery, and oilfield waste treatment and disposal. As of December 31, 2025, Waste Connections owned or operated 77 municipal solid waste landfills, 20 oilfield waste landfills and caverns, and 17 landfills for construction, demolition, industrial and other non-putrescible waste. It employed approximately 24,214 people at year-end 2025.

Company details
Sector
Industrials
Industry (SIC)
Electric, Gas & Water
Headquarters
THE WOODLANDS, TX
Fiscal year end
December
CIK
1318220
SIC
4953

Financial performance, year by year

Fiscal 2011–2025 · USD
$-1.10B$1.91B$4.92B$7.94B$10.95B201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Waste Connections, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

359
funds hold it
0 of 35
superinvestors hold it
$9.26B
held by funds, at market
22.4%
of shares held by funds

Largest fund holders · Waste Connections, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.06%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.41%of fund net assets
—of fund net assets
VANGUARD GROWTH INDEX FUND
VUG · VANGUARD INDEX FUNDS
0.14%of fund net assets
VANGUARD DEVELOPED MARKETS INDEX FUND
VEA · VANGUARD TAX-MANAGED FUNDS
0.13%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Waste Connections, Inc. and its peers compare on margins and cash generation over ten years?”
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