FY2025 · ended Dec 31, 2025 · Revenue $9.47B, +6.1% YoY · Filed Feb 12, 2026
Waste Connections, Inc. (WCN) files with the SEC under industry code 4953, Refuse Systems. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $9.5 billion and net income of $1.1 billion. Free cash flow was $1.2 billion. As of Sep 30, 2026 it held $95.7 million in cash and investments and $9.8 billion in total debt.
Revenue (TTM)
$9.94B
+6.3% vs year-ago TTM
Net income (TTM)
$1.13B
+82.2% vs year-ago TTM
Operating cash flow (TTM)
$2.53B
+4.2% vs year-ago TTM
Free cash flow (TTM)
$1.25B
+1.2% vs year-ago TTM
EPS (TTM)
$4.45
+85.1% vs year-ago TTM
Dividend per share (TTM)
$1.40
+11.1% vs year-ago TTM
Shares outstanding
255.68M
-0.9% vs prior year
Net cash
$-9.74B
as of Sep 30, 2026
Operating margin
17.7%
FY 2026
Company profile
- Industry
- Refuse Systems (SIC 4953)
- Listed as
- WCN (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- Ontario, Canada
- Headquarters
- The Woodlands, TX
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1318220
- Former names
- Progressive Waste Solutions Ltd. (until May 31, 2016); IESI-BFC Ltd (until May 3, 2011); BFI Canada Ltd (until May 14, 2009); BFI Canada Income Fund (until Feb 23, 2005)
Other Refuse Systems companies
- Waste Management Inc WM
- Republic Services, Inc. RSG
- GFL Environmental Inc. GFL
- Casella Waste Systems Inc CWST
- OIO Group OIO
- Enviri Corp NVRI
- Quest Resource Holding Corp QRHC
- Avalon Holdings Corp AWX
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $9.5B | $8.9B | $8.0B | $7.2B | $6.2B |
| Operating income | $1.7B | $1.1B | $1.2B | $1.2B | $1.0B |
| Net income | $1.1B | $617.6M | $762.8M | $835.7M | $618.0M |
| Diluted EPS | $4.17 | $2.39 | $2.95 | $3.24 | $2.36 |
| Operating cash flow | $2.4B | $2.2B | $2.1B | $2.0B | $1.7B |
| Free cash flow | $1.2B | $1.2B | $1.2B | $1.1B | $953.9M |
| Total assets | $21.1B | $19.8B | $17.9B | $17.1B | $14.7B |
| Total liabilities | $12.9B | $12.0B | $10.2B | $10.0B | $7.7B |
| Stockholders' equity | $8.2B | $7.9B | $7.7B | $7.1B | $7.0B |
| Cash and investments | $46.0M | $62.4M | $78.4M | $78.6M | $147.4M |
| Total debt | $9.2B | $8.5B | $7.1B | $7.1B | $5.2B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 22, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations, Regulation FD disclosure
|
Oct 21, 2026 | Oct 21, 2026 |
| 8-K |
Current report
Other events
|
Aug 7, 2026 | Aug 7, 2026 |
| 8-K |
Current report
Material agreement, New debt
|
Aug 4, 2026 | Aug 4, 2026 |
| 8-K |
Current report
Material agreement, Regulation FD disclosure
|
Jul 28, 2026 | Jul 27, 2026 |
| 10-Q | Quarterly report | Jul 23, 2026 | Jun 30, 2026 |
All 1000 Waste Connections, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.