# Waste Connections, Inc.: overview

WCN · NYSE · CIK 1318220 · [Utilities](/sectors/utilities.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/wcn.md) · [Financials](/companies/wcn/financials.md) · [Filings](/companies/wcn/filings.md) · [Insiders](/companies/wcn/insiders.md)

Latest reported revenue: [$2.64bn](/filings/0001104659-26-117943.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 22, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001104659-26-117943).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,260 d](/filings/0001104659-26-013700.md) | [2,228](/filings/0001104659-26-047074.md) | [2,407](/filings/0001104659-26-086006.md) | [2,458](/filings/0001104659-26-117943.md) | [2,373 d](/filings/0001104659-26-013700.md) | [2,371](/filings/0001104659-26-047074.md) | [2,562](/filings/0001104659-26-086006.md) | [2,638](/filings/0001104659-26-117943.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(8.8%) d](/filings/0001104659-26-013700.md) | [17.5%](/filings/0001104659-26-047074.md) | [19.1%](/filings/0001104659-26-086006.md) | [17.9%](/filings/0001104659-26-117943.md) | [17.7% d](/filings/0001104659-26-013700.md) | [15.4%](/filings/0001104659-26-047074.md) | [17.1%](/filings/0001104659-26-086006.md) | [20.5%](/filings/0001104659-26-117943.md) |
| Net margin | % | [(8.7%) d](/filings/0001104659-26-013700.md) | [10.8%](/filings/0001558370-25-005319.md) | [12.1%](/filings/0001558370-25-009490.md) | [11.6%](/filings/0001104659-25-101349.md) | [10.9% d](/filings/0001104659-26-013700.md) | [9.3%](/filings/0001104659-26-117943.md) | [11.6%](/filings/0001104659-26-117943.md) | [13.6%](/filings/0001104659-26-117943.md) |
| Diluted EPS | $ per share | not reported | [0.93](/filings/0001104659-26-047074.md) | [1.12](/filings/0001104659-26-086006.md) | [1.11](/filings/0001104659-26-117943.md) | not reported | [0.86](/filings/0001104659-26-047074.md) | [1.17](/filings/0001104659-26-086006.md) | [1.43](/filings/0001104659-26-117943.md) |
| Free cash flow | $m | [172 d](/filings/0001104659-26-013700.md) | [329](/filings/0001104659-26-047074.md) | [353 d](/filings/0001104659-26-086006.md) | [380 d](/filings/0001104659-26-117943.md) | [173 d](/filings/0001104659-26-013700.md) | [249](/filings/0001104659-26-047074.md) | [431 d](/filings/0001104659-26-086006.md) | [397 d](/filings/0001104659-26-117943.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Net income: us-gaap:ProfitLoss. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [6,151](/filings/0001558370-24-001109.md) | [7,212](/filings/0001558370-25-000893.md) | [8,022](/filings/0001104659-26-013700.md) | [8,920](/filings/0001104659-26-013700.md) | [9,467](/filings/0001104659-26-013700.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [16.9%](/filings/0001558370-24-001109.md) | [17.2%](/filings/0001558370-25-000893.md) | [15.4%](/filings/0001104659-26-013700.md) | [12.0%](/filings/0001104659-26-013700.md) | [18.1%](/filings/0001104659-26-013700.md) |
| Net margin | % | [10.0%](/filings/0001558370-24-001109.md) | [11.6%](/filings/0001558370-25-000893.md) | [9.5%](/filings/0001104659-26-013700.md) | [6.9%](/filings/0001104659-26-013700.md) | [11.4%](/filings/0001104659-26-013700.md) |
| Diluted EPS | $ per share | [2.36](/filings/0001558370-24-001109.md) | [3.24](/filings/0001558370-25-000893.md) | [2.95](/filings/0001104659-26-013700.md) | [2.39](/filings/0001104659-26-013700.md) | [4.17](/filings/0001104659-26-013700.md) |
| Free cash flow | $m | [954](/filings/0001558370-24-001109.md) | [1,110](/filings/0001558370-25-000893.md) | [1,193](/filings/0001104659-26-013700.md) | [1,173](/filings/0001104659-26-013700.md) | [1,235](/filings/0001104659-26-013700.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/wcn/insiders.md)

| Date | Insider | Role | Transaction | Shares | Reported price | Value | Filing |
| --- | --- | --- | --- | ---: | ---: | ---: | --- |
| 2026-10-27 | [Little James](/insiders/1130416.md) | Executive VP Engineering, Officer | Sale (S) | 2,000 | $185.22 | $370.4k | [Form 4](/filings/0001130416-26-000005.md) |
| 2026-10-26 | [TAN Derek](/insiders/2053089.md) | SR VP Chief Accounting Officer, Officer | Sale (S) | 1,000 | $186.77 | $186.8k | [Form 4](/filings/0002053089-26-000003.md) |

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $2.63bn | 15,797,275 |  | Reduced −57,888 |
| [ROYAL BANK OF CANADA](/funds/1000275.md) | 2026-06-30 | $2.20bn | 13,188,665 |  | Added +978,004 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $1.87bn | 11,232,978 |  | Added +97,720 |
| [BANK OF MONTREAL /CAN/](/funds/927971.md) | 2026-06-30 | $1.44bn | 8,665,651 |  | Added +530,018 |
| [1832 Asset Management L.P.](/funds/944388.md) | 2026-06-30 | $1.24bn | 7,456,684 |  | Added +343,080 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $1.06bn | 6,370,788 |  | Added +179,224 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $890.2m | 5,341,098 |  | Reduced −3,623,552 |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $763.9m | 4,582,617 |  | Reduced −645,433 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $684.0m | 4,111,035 |  | Added +3,002,466 |
| [NORGES BANK](/funds/1374170.md) | 2026-06-30 | $659.5m | 3,957,385 |  | New +3,957,385 |

## Recent filings

[All 1,286 filings](/companies/wcn/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-22 | 06:01 ET | [10-Q](/filings/0001104659-26-117943.md) | Quarterly report, period 2026-09-30 | 0001104659-26-117943 |
| 2026-10-21 | 16:08 ET | [8-K](/filings/0001104659-26-117838.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-117838 |
| 2026-08-07 | 16:05 ET | [8-K](/filings/0001104659-26-092680.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-092680 |
| 2026-08-04 | 16:00 ET | [8-K](/filings/0001104659-26-090339.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001104659-26-090339 |
| 2026-07-28 | 08:40 ET | [8-K](/filings/0001104659-26-087330.md) | 1.01 Entry into a material agreement; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-087330 |
| 2026-07-23 | 06:01 ET | [10-Q](/filings/0001104659-26-086006.md) | Quarterly report, period 2026-06-30 | 0001104659-26-086006 |
| 2026-07-22 | 16:09 ET | [8-K](/filings/0001104659-26-085802.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-085802 |
| 2026-05-15 | 16:06 ET | [8-K](/filings/0001104659-26-062507.md) | 5.07 Shareholder vote results; 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-062507 |
| 2026-04-23 | 06:01 ET | [10-Q](/filings/0001104659-26-047074.md) | Quarterly report, period 2026-03-31 | 0001104659-26-047074 |
| 2026-04-22 | 16:09 ET | [8-K](/filings/0001104659-26-046820.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-046820 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001104659-26-013700.md), filed Feb 12, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1318220
- Tickers: WCN
- Exchange: NYSE
- SIC code: 4953 Refuse Systems
- State of incorporation: A6
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 17:23 ET. No prices; not investment advice.