Waste Connections, Inc.WCNEarnings & Financial Report
Waste Connections, Inc. is a North American integrated waste services company that provides waste collection, transfer, disposal and recycling services, primarily of solid waste. It has operations in both the United States and Canada. Its headquarters is located in The Woodlands, Texas. It is the third largest waste management company in North America.
WCN Q4 2025 Key Financial Metrics
Revenue
$2.4B
Gross Profit
$1.0B
Operating Profit
$420.8M
Net Profit
$258.5M
Gross Margin
42.5%
Operating Margin
17.7%
Net Margin
10.9%
YoY Growth
5.0%
EPS
$1.01
Financial Flow
Waste Connections, Inc. Q4 2025 Financial Summary
Waste Connections, Inc. reported revenue of $2.4B for Q4 2025, with a net profit of $258.5M (10.9% margin). Cost of goods sold was $1.4B, operating expenses totaled $588.3M.
Key Financial Metrics
| Total Revenue | $2.4B |
|---|---|
| Net Profit | $258.5M |
| Gross Margin | 42.5% |
| Operating Margin | 17.7% |
| Report Period | Q4 2025 |
Waste Connections, Inc. Annual Revenue by Year
Waste Connections, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $9.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $9.5B |
| 2024 | $8.9B |
| 2023 | $8.0B |
| 2022 | $7.2B |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.07B | $2.25B | $2.34B | $2.26B | $2.23B | $2.41B | $2.46B | $2.37B |
| YoY Growth | 9.1% | 11.2% | 13.3% | 11.0% | 7.5% | 7.1% | 5.1% | 5.0% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $19.08B | $19.30B | $20.10B | $19.82B | $20.25B | $20.68B | $20.78B | $21.13B |
| Liabilities | $11.29B | $11.32B | $11.83B | $11.96B | $12.24B | $12.32B | $12.69B | $12.88B |
| Equity | $7.79B | $7.98B | $8.26B | $7.86B | $8.01B | $8.35B | $8.09B | $8.25B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $490.3M | $611.4M | $558.3M | $568.9M | $541.5M | $638.2M | $677.4M | $556.9M |
