Waste Connections, Inc. provides non-hazardous waste collection and disposal services across the U.S. and Canada. Key strengths include a solid gross margin of 43.1% and a strong EBITDA margin of 33.5%, indicating effective cost management. However, concerns arise from a low current ratio of 0.67, suggesting potential liquidity issues, and a relatively low return on equity of 4.6%. Despite high margins, the overall financial health score of 38/100 reflects challenges in profitability and leverage, warranting cautious consideration for investors.
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Debt of $9.8B is 102.0x the company's cash position of $95.7M.
Both gross margin (+0.5pp) and operating margin (+0.7pp) are expanding simultaneously, indicating the company is scaling profitably.
Excellent operating cash flow margin of 25.4% indicates high-quality earnings.
Operating cash flow of $2527.7M exceeds net income by 123%, indicating high-quality earnings with strong cash conversion.
Strong free cash flow margin of 11.9% provides substantial resources for dividends, buybacks, or reinvestment.
Valuation, risk assessment, competitive positioning, and key insights — all in one report.
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Based on 2026-Q3 (September 30, 2026)