The Filings Report

Waste Connections, Inc.

WCNNYSECIK 1318220Industrials / Waste Managementfiscal year ends December48 quarters since 2014

Revenue, Q3 FY2026
$2.6B
+7.3% on Q3 FY2025
Net income
—
no year-earlier figure
Free cash flow
$397M
+4.4% on Q3 FY2025
Diluted EPS
$1.43
+28.8% on Q3 FY2025
Revenue, TTM
$9.9B
trailing four quarters
Net margin, TTM
—
net income —
Free cash flow, TTM
$1.2B
$2.5B less $1.3B capex
Cash and equivalents
$96M
long-term debt —, Sep 30, 2026
Shares, 12-month change
−2.3%
250M shares, Sep 30, 2026
Buybacks, TTM
$1.0B
2.2% of market value
Dividends, TTM
$355M
0.8% of market value
Market value
$46.1B
at the close, buybacks

Latest quarter Q3 FY2026, filed October 22, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q3 FY2026, the quarter ended September 30, 2026, Waste Connections, Inc. reported revenue of $2.6B, +7.3% on Q3 FY2025. Operating margin was 20.5%. Free cash flow, operating cash flow less capital expenditures, was $397M ($692M less $295M). Diluted earnings per share were $1.43.

The last 16 quarters

Q4 FY2022 to Q3 FY2026, through the filing of October 22, 2026.

Revenue and net incomeRevenueNet income
−$1B$0$1B$2B$3BQ4'22, Revenue: $1.9BQ4'22, Net income: $194MQ4'22Q1'23, Revenue: $1.9BQ1'23, Net income: $198MQ1'23Q2'23, Revenue: $2.0BQ2'23, Net income: $209MQ2'23Q3'23, Revenue: $2.1BQ3'23, Net income: $229MQ3'23Q4'23, Revenue: $2.0BQ4'23, Net income: $127MQ4'23Q1'24, Revenue: $2.1BQ1'24, Net income: $230MQ1'24Q2'24, Revenue: $2.2BQ2'24, Net income: $275MQ2'24Q3'24, Revenue: $2.3BQ3'24, Net income: $308MQ3'24Q4'24, Revenue: $2.3BQ4'24, Net income: −$196MQ4'24Q1'25, Revenue: $2.2BQ1'25, Net income: $242MQ1'25Q2'25, Revenue: $2.4BQ2'25, Net income: $290MQ2'25Q3'25, Revenue: $2.5BQ3'25, Net income: $286MQ3'25Q4'25, Revenue: $2.4BQ4'25, Net income: $259MQ4'25Q1'26, Revenue: $2.4BQ1'26Q2'26, Revenue: $2.6BQ2'26Q3'26, Revenue: $2.6BQ3'26−$1B$0$1B$2B$3BQ4'22, Revenue: $1.9BQ4'22, Net income: $194MQ1'23, Revenue: $1.9BQ1'23, Net income: $198MQ1'23Q2'23, Revenue: $2.0BQ2'23, Net income: $209MQ3'23, Revenue: $2.1BQ3'23, Net income: $229MQ3'23Q4'23, Revenue: $2.0BQ4'23, Net income: $127MQ1'24, Revenue: $2.1BQ1'24, Net income: $230MQ1'24Q2'24, Revenue: $2.2BQ2'24, Net income: $275MQ3'24, Revenue: $2.3BQ3'24, Net income: $308MQ3'24Q4'24, Revenue: $2.3BQ4'24, Net income: −$196MQ1'25, Revenue: $2.2BQ1'25, Net income: $242MQ1'25Q2'25, Revenue: $2.4BQ2'25, Net income: $290MQ3'25, Revenue: $2.5BQ3'25, Net income: $286MQ3'25Q4'25, Revenue: $2.4BQ4'25, Net income: $259MQ1'26, Revenue: $2.4BQ1'26Q2'26, Revenue: $2.6BQ3'26, Revenue: $2.6BQ3'26

Net income losses drawn in red.

Free cash flow
$0$200M$400M$600MQ4'22, Free cash flow: $228MQ4'22Q1'23, Free cash flow: $267MQ1'23Q2'23, Free cash flow: $356MQ2'23Q3'23, Free cash flow: $333MQ3'23Q4'23, Free cash flow: $237MQ4'23Q1'24, Free cash flow: $320MQ1'24Q2'24, Free cash flow: $394MQ2'24Q3'24, Free cash flow: $286MQ3'24Q4'24, Free cash flow: $172MQ4'24Q1'25, Free cash flow: $329MQ1'25Q2'25, Free cash flow: $353MQ2'25Q3'25, Free cash flow: $380MQ3'25Q4'25, Free cash flow: $173MQ4'25Q1'26, Free cash flow: $249MQ1'26Q2'26, Free cash flow: $431MQ2'26Q3'26, Free cash flow: $397MQ3'26$0$200M$400M$600MQ4'22, Free cash flow: $228MQ1'23, Free cash flow: $267MQ1'23Q2'23, Free cash flow: $356MQ3'23, Free cash flow: $333MQ3'23Q4'23, Free cash flow: $237MQ1'24, Free cash flow: $320MQ1'24Q2'24, Free cash flow: $394MQ3'24, Free cash flow: $286MQ3'24Q4'24, Free cash flow: $172MQ1'25, Free cash flow: $329MQ1'25Q2'25, Free cash flow: $353MQ3'25, Free cash flow: $380MQ3'25Q4'25, Free cash flow: $173MQ1'26, Free cash flow: $249MQ1'26Q2'26, Free cash flow: $431MQ3'26, Free cash flow: $397MQ3'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$2B$4B$6B$8BQ4'22, Cash and equivalents: $79MQ4'22, Long-term debt: $6.9BQ4'22Q1'23, Cash and equivalents: $134MQ1'23, Long-term debt: $6.9BQ1'23Q2'23, Cash and equivalents: $92MQ2'23Q3'23, Cash and equivalents: $96MQ3'23Q4'23, Cash and equivalents: $78MQ4'23Q1'24, Cash and equivalents: $112MQ1'24Q2'24, Cash and equivalents: $79MQ2'24Q3'24, Cash and equivalents: $115MQ3'24Q4'24, Cash and equivalents: $62MQ4'24Q1'25, Cash and equivalents: $111MQ1'25Q2'25, Cash and equivalents: $110MQ2'25Q3'25, Cash and equivalents: $118MQ3'25Q4'25, Cash and equivalents: $46MQ4'25Q1'26, Cash and equivalents: $112MQ1'26Q2'26, Cash and equivalents: $98MQ2'26Q3'26, Cash and equivalents: $96MQ3'26$0$2B$4B$6B$8BQ4'22, Cash and equivalents: $79MQ4'22, Long-term debt: $6.9BQ1'23, Cash and equivalents: $134MQ1'23, Long-term debt: $6.9BQ1'23Q2'23, Cash and equivalents: $92MQ3'23, Cash and equivalents: $96MQ3'23Q4'23, Cash and equivalents: $78MQ1'24, Cash and equivalents: $112MQ1'24Q2'24, Cash and equivalents: $79MQ3'24, Cash and equivalents: $115MQ3'24Q4'24, Cash and equivalents: $62MQ1'25, Cash and equivalents: $111MQ1'25Q2'25, Cash and equivalents: $110MQ3'25, Cash and equivalents: $118MQ3'25Q4'25, Cash and equivalents: $46MQ1'26, Cash and equivalents: $112MQ1'26Q2'26, Cash and equivalents: $98MQ3'26, Cash and equivalents: $96MQ3'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q3 FY2026 filed October 22, 2026.

Waste Connections, Inc. income statement, quarterly
Millions of dollarsQ3 FY2026ended Sep 30, 2026filed Oct 22, 2026Q2 FY2026ended Jun 30, 2026filed Jul 23, 2026Q1 FY2026ended Mar 31, 2026filed Apr 23, 2026Q4 FY2025ended Dec 31, 2025filed Feb 12, 2026Q3 FY2025ended Sep 30, 2025filed Oct 22, 2025Q2 FY2025ended Jun 30, 2025filed Jul 24, 2025Q1 FY2025ended Mar 31, 2025filed Apr 24, 2025Q4 FY2024ended Dec 31, 2024filed Feb 13, 2025YoYQ3 FY2026vs Q3 FY2025
Revenue2,6382,5622,3712,3732,4582,4072,2282,260+7.3%
Cost of revenue1,5011,4791,3611,3641,4071,3931,2911,325+6.7%
Gross profit—————————
Research and development—————————
Selling, general and administrative254260251230236243250211+7.4%
Operating income542438364421440460390(199)+23.2%
Other income (expense)3334415102(2)−81.0%
Pretax income451384284341375389313(282)+20.4%
Income tax92876483899971(86)+3.8%
Net income———259286290242(196)—
Diluted EPS ($)1.431.170.86—1.111.120.93—+28.8%
Diluted shares (millions)252254256—258259259——

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q3 FY2026 filed October 22, 2026.

Waste Connections, Inc. balance sheet, quarterly
Millions of dollarsQ3 FY2026ended Sep 30, 2026filed Oct 22, 2026Q2 FY2026ended Jun 30, 2026filed Jul 23, 2026Q1 FY2026ended Mar 31, 2026filed Apr 23, 2026Q4 FY2025ended Dec 31, 2025filed Feb 12, 2026Q3 FY2025ended Sep 30, 2025filed Oct 22, 2025Q2 FY2025ended Jun 30, 2025filed Jul 24, 2025Q1 FY2025ended Mar 31, 2025filed Apr 24, 2025Q4 FY2024ended Dec 31, 2024filed Feb 13, 2025YoYQ3 FY2026vs Q3 FY2025
Cash and equivalents96981124611811011162−18.6%
Short-term investments—————————
Total current assets1,4371,3991,3761,3121,4041,3501,2811,227+2.4%
Total assets21,51021,39921,18621,12920,78220,67920,25419,818+3.5%
Total current liabilities2,1552,1282,0072,1242,0882,0011,8291,879+3.2%
Long-term debt—————————
Total liabilities13,62613,47813,12912,88412,68912,32512,24011,957+7.4%
Stockholders’ equity———8,2458,0938,3548,0147,860—
Shares outstanding (millions)250252254256256257258258—

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q3 FY2026 filed October 22, 2026.

Waste Connections, Inc. cash flow statement, quarterly
Millions of dollarsQ3 FY2026ended Sep 30, 2026filed Oct 22, 2026Q2 FY2026ended Jun 30, 2026filed Jul 23, 2026Q1 FY2026ended Mar 31, 2026filed Apr 23, 2026Q4 FY2025ended Dec 31, 2025filed Feb 12, 2026Q3 FY2025ended Sep 30, 2025filed Oct 22, 2025Q2 FY2025ended Jun 30, 2025filed Jul 24, 2025Q1 FY2025ended Mar 31, 2025filed Apr 24, 2025Q4 FY2024ended Dec 31, 2024filed Feb 13, 2025YoYQ3 FY2026vs Q3 FY2025
Operating cash flow692733546557677638542569+2.1%
Capital expenditures295302297384297285212397−0.8%
Free cash flow (CFO − capex)397431249173380353329172+4.4%
Depreciation and amortization339326315319315308290322+7.6%
Share repurchases33033128463442000−25.3%
Dividends paid8888899081818181+9.1%

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 12, 2026.

Income statement

Waste Connections, Inc. income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 12, 2026FY2024ended Dec 31, 2024filed Feb 13, 2025FY2023ended Dec 31, 2023filed Feb 14, 2024FY2022ended Dec 31, 2022filed Feb 16, 2023FY2021ended Dec 31, 2021filed Feb 17, 2022FY2020ended Dec 31, 2020filed Feb 18, 2021FY2019ended Dec 31, 2019filed Feb 13, 2020FY2018ended Dec 31, 2018filed Feb 14, 2019FY2017ended Dec 31, 2017filed Feb 15, 2018FY2016ended Dec 31, 2016filed Feb 27, 2017FY2015ended Dec 31, 2015filed Aug 5, 2016FY2014ended Dec 31, 2014filed Aug 5, 2016
Revenue9,4678,9208,0227,2126,1515,4465,3894,9234,6303,3762,1172,079
Cost of revenue5,4555,1924,7454,3363,6543,2773,1992,8662,7051,9581,1771,138
Gross profit————————————
Research and development————————————
Selling, general and administrative960883799696612538546524510474237229
Operating income1,7101,0681,2361,2421,040412838832627452(62)449
Other income (expense)30101236(1)6020(1)1
Pretax income1,4187639841,049771254706707509361(126)386
Income tax34114622121315250139160(69)114(32)152
Net income1,077618763836618205567547577247(96)233
Diluted EPS ($)4.172.392.953.242.360.782.142.072.181.07(0.52)1.24*
Diluted shares (millions)258259258258262264265264264231185187*

Balance sheet

Waste Connections, Inc. balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 12, 2026FY2024ended Dec 31, 2024filed Feb 13, 2025FY2023ended Dec 31, 2023filed Feb 14, 2024FY2022ended Dec 31, 2022filed Feb 16, 2023FY2021ended Dec 31, 2021filed Feb 17, 2022FY2020ended Dec 31, 2020filed Feb 18, 2021FY2019ended Dec 31, 2019filed Feb 13, 2020FY2018ended Dec 31, 2018filed Feb 14, 2019FY2017ended Dec 31, 2017filed Feb 15, 2018FY2016ended Dec 31, 2016filed Feb 27, 2017FY2015ended Dec 31, 2015filed Aug 5, 2016FY2014ended Dec 31, 2014filed Aug 5, 2016
Cash and equivalents466278791476173273194341541114
Short-term investments————————————
Total current assets1,3121,2271,1421,1181,0331,4081,1311,0931,177743362—
Total assets21,12919,81817,91617,13514,70013,99213,73812,83412,01511,1045,0725,245
Total current liabilities2,1241,8791,6881,5131,2331,0291,007890803692378—
Long-term debt———6,8905,0414,7094,3544,1533,9003,6172,147—
Total liabilities12,88411,95710,21810,0217,7067,1296,7996,3765,7415,4493,130—
Stockholders’ equity8,2457,8607,6937,1096,9896,8596,9346,4556,2695,6481,985—
Shares outstanding (millions)256258258257257262264263264263*——

Cash flow statement

Waste Connections, Inc. cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 12, 2026FY2024ended Dec 31, 2024filed Feb 13, 2025FY2023ended Dec 31, 2023filed Feb 14, 2024FY2022ended Dec 31, 2022filed Feb 16, 2023FY2021ended Dec 31, 2021filed Feb 17, 2022FY2020ended Dec 31, 2020filed Feb 18, 2021FY2019ended Dec 31, 2019filed Feb 13, 2020FY2018ended Dec 31, 2018filed Feb 14, 2019FY2017ended Dec 31, 2017filed Feb 15, 2018FY2016ended Dec 31, 2016filed Feb 27, 2017FY2015ended Dec 31, 2015filed Aug 5, 2016FY2014ended Dec 31, 2014filed Aug 5, 2016
Operating cash flow2,4142,2292,1272,0221,6981,4091,5411,4111,187795577—
Capital expenditures1,1791,056934913744597634546479345239241
Free cash flow (CFO − capex)1,2351,1731,1931,110954811906865708451338—
Depreciation and amortization1,2321,1641,003919813752744680632464269258
Share repurchases50600425339106—59——917
Dividends paid334302271243220200175153132936659

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$1M
5 sales by 5 insiders; officers and directors $1M
Bought, twelve months
$8M
1 purchases by 1 insider; officers and directors $8M
Sold, twelve months
$5M
17 sales by 9 insiders; officers and directors $5M

The last 25 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 27, 2026Little JamesExecutive VP Engineeringopen-market sale2,000$185.22$370K32,395Oct 29, 2026
Oct 26, 2026Tan DerekSR VP Chief Accounting Officeropen-market sale1,000$186.77$187K404Oct 28, 2026
Aug 19, 2026Nielsen III RobertSR VP Operationsopen-market sale700$170.00$119K3,250Aug 21, 2026
Aug 18, 2026Rivard PhilipSR VP Business Developmentopen-market sale2,500$166.57$416K734Aug 20, 2026
Aug 13, 2026Netherton SusanSR VP People, Training & Devopen-market sale1,750$166.00$291K12,980Aug 17, 2026
Jul 29, 2026Nielsen III RobertSR VP Operationsopen-market sale300$173.10$52K3,950Jul 31, 2026
Jul 28, 2026Cloninger Robert MichaelSR VP, Deputy General Counselopen-market sale2,573$171.00$440K11,904Jul 30, 2026
Jul 28, 2026Cloninger Robert MichaelSR VP, Deputy General Counselopen-market sale238$171.33$41K11,666Jul 30, 2026
Jun 30, 2026Pio DomenicSR VP Operationsother95$158.36$15K9,188Jul 2, 2026
Jun 30, 2026Craft JasonExecutive Vice President & COOother54$158.36$9K32,915Jul 2, 2026
Jun 30, 2026Bradley AaronSR VP PERFORMANCE OPTIMIZATIONother42$158.36$7K8,624Jul 2, 2026
Jun 30, 2026Black Matthew StephenSr VP Chief Tax Officerother16$158.36$3K43,530Jul 2, 2026
Jun 9, 2026Shea Patrick JamesExec VP, General Counsel & Secgift100$0.00—19,622Jun 9, 2026
Jun 8, 2026Shea Patrick JamesExec VP, General Counsel & Secgift15$0.00—19,722Jun 9, 2026
Jun 5, 2026Shea Patrick JamesExec VP, General Counsel & Secopen-market sale7,500$156.26$1M19,737Jun 9, 2026
Jun 5, 2026Craft JasonExecutive Vice President & COOopen-market sale1,500$156.59$235K32,861Jun 9, 2026
May 14, 2026Nielsen III RobertSR VP Operationsopen-market sale500$155.56$78K4,250May 18, 2026
May 13, 2026Nielsen III RobertSR VP Operationsopen-market sale290$151.00$44K4,750May 14, 2026
May 12, 2026Nielsen III RobertSR VP Operationsopen-market sale337$153.00$52K5,040May 14, 2026
May 12, 2026Mittelstaedt Ronald JPresident & CEO, Directoropen-market buy50,000$152.24$8M301,017May 13, 2026
Apr 30, 2026Hansen EricSenior Vice President and CIOopen-market sale6,000$164.82$989K13,350May 4, 2026
Apr 27, 2026Little JamesExecutive VP Engineeringopen-market sale2,605$163.98$427K34,395Apr 29, 2026
Apr 1, 2026Florness Daniel LDirectoroption exercise332$0.00—332Apr 3, 2026
Apr 1, 2026Florness Daniel LDirectortax withholding178$162.98$29K154Apr 3, 2026
Mar 4, 2026Tan DerekSR VP Chief Accounting Officeropen-market sale1,173$171.03$201K1,404Mar 6, 2026

Full insider history for Waste Connections, Inc., or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

2 of the tracked managers held WCN in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded WCN by quarter.

FundManagerQuarterValueSharesWeightMove
Gates Foundation TrustMichael LarsonQ2 2026$340M2M0.99%held
Baron Capital GroupRon BaronQ2 2026$32M193,9200.05%held +0.7%

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
WASTE CONNECTIONS, INC., CIK 1318220 on EDGAR
Extract generated
November 1, 2026
Withheld
none
Repaired
1 quarters where a full-year figure was filed in a quarter slot and the quarter was rebuilt: other income FY2017
XBRL concepts behind each line

Income statement

Revenue: RevenueFromContractWithCustomerExcludingAssessedTax, Revenues, SalesRevenueNet
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: not filed
Research and development: not filed
Selling, general and administrative: SellingGeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): OtherNonoperatingIncomeExpense
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest, IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: not filed
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: LongTermDebtNoncurrent
Total liabilities: Liabilities
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): dei:EntityCommonStockSharesOutstanding

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquireProductiveAssets, PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationDepletionAndAmortization
Share repurchases: PaymentsForRepurchaseOfCommonStock
Dividends paid: PaymentsOfDividendsCommonStock

The data

The statements on this page as files, generated November 1, 2026.

JSON file
/data/financials/WCN.json