10x Insights
Loading account…
Companies / Utilities / Waste Connections, Inc.
WCN

Waste Connections, Inc.

UtilitiesElectric, Gas & Water
Ticker WCNWOODBRIDGE, A6Fiscal year ends DecemberBook value per share $31.08Diluted shares 254.9M

Waste Connections, Inc. (NYSE: WCN) operates as the third largest solid waste services company in North America, providing comprehensive waste management solutions across 46 U.S. states and six Canadian provinces. The company's website is www.wasteconnections.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$9.47B
+6.1% year over year
Last 12 mo $9.76B
18.06%
+6.1 percentage points
Last 12 mo 17.02%
$1.08B
+74.6% year over year
Last 12 mo $1.06B
13.06%
+5.2 percentage points
Last 12 mo 13.39%
Cash & financing
$2.41B
+8.3% year over year
Last 12 mo $2.51B
$1.22B
+4.0% year over year
Last 12 mo $1.17B
1.07
Was 1.03× a year earlier
Last 12 mo 1.18
258.0M
−0.3% year over year
Last 12 mo 254.9M

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) operates as the third largest solid waste services company in North America, providing comprehensive waste management solutions across 46 U.S. states and six Canadian provinces. The company's website is www.wasteconnections.com.

The company delivers non-hazardous waste collection, transfer, and disposal services, including rail-based transportation, alongside resource recovery operations focused on recycling and renewable fuels generation. Waste Connections also operates a specialized division providing non-hazardous oil and natural gas exploration and production waste treatment, recovery, and disposal services across multiple U.S. and Canadian basins, plus intermodal services for cargo and solid waste container movement in the Pacific Northwest.

As of December 31, 2025, Waste Connections employed approximately 24,214 active employees, including 11,347 commercial truck drivers and 2,020 mechanics, distributed across 20,471 positions in the United States and 3,743 in Canada. The workforce comprises 44 percent ethnic minorities, 17 percent women, and 7 percent veterans, with approximately 16 percent represented by collective bargaining agreements, primarily with the Teamsters Union.

The company operates 77 municipal solid waste landfills, 20 E&P waste landfills and caverns, and 17 non-MSW landfills accepting construction, demolition, and industrial waste. Waste Connections manages operations through six geographic segments, employing a decentralized structure that places decision-making authority at regional and district levels. The company's landfill network maintains an estimated average remaining operating life of approximately 31 years based on permitted capacity and projected disposal volumes, extending to 34 years when including probable expansion capacity.

Waste Connections pursues growth through both internal expansion and strategic acquisitions, completing 19 acquisitions in 2025 valued at $966.8 million. The company has committed $500 million toward long-term environmental, social, and governance initiatives, including reduced emissions targets, expanded resource recovery, increased landfill gas recovery and beneficial reuse, and improved safety and employee engagement metrics. The company operates under a vertically integrated business model targeting markets where it can establish substantial presence through exclusive contracts, municipal arrangements, and efficient asset positioning.

Company details
Sector
Utilities
Industry
Electric, Gas & Water
Headquarters
WOODBRIDGE, A6
Fiscal year end
December
CIK
1318220
SIC
4953

Financial performance, year by year

Fiscal 2013–2025 · USD
$-1.08B$1.88B$4.83B$7.79B$10.75B2013201420152016201720182019202020212022202320242025Last 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
22.3%
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
0.10%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.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Waste Connections, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Waste Connections, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Waste Connections, Inc.'s last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.