Waste Connections, Inc. Overview
Pro stress-test →Waste Connections is a North American waste management company focused on integrated waste collection services, with primary focus on residential, commercial, municipal, and industrial waste collection in rural areas. As the third-largest waste management company by revenue, it operates 113 landfills and 222 transfer stations as of 2024.
Strategic Profile
Pro stress-test →The company expects 2026 organic solid waste growth of 3.5-4.0% and EBITDA margins expanding 30-40 basis points, with double-digit free cash flow growth underpinned by pricing and efficiency gains, positioning it for continued long-term growth through AI-driven initiatives and a sizable M&A pipeline. Waste Connections is well-positioned in its industry, leveraging its extensive infrastructure and diversified revenue streams.
Competitive Landscape
Pro stress-test →Waste Connections ranks as the third-largest waste management company by revenue in North America. The competitive landscape includes Waste Management Inc. and Republic Services as larger competitors, with GFL Environmental and smaller regional operators. WCN trades at 15.1x EV/EBITDA and 28.8x P/E, below peers despite faster historical EPS growth and lower leverage.
Industry Context
Waste Connections, Inc. operates in Waste Management & Environmental Services.
Key facts
Founded: 1997 · Headquarters: Woodbridge, Canada · Employees: ~9,000 (approx. based on operational scale) · Revenue: $9.47B · Market cap: $43.89B