Waste Connections revenue and financials
Secondary listing. The primary listing is Waste Connections · TSX (CAD)
$154.62Change from previous close: +0.21%Absolute change: +$0.32
In the fiscal year ended December 2025, Waste Connections reported revenue of $9.47B (+6.14% year over year). Net income was $1.08B, a net margin of 11.4%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +6.14%
- 2025 vs 2024
- Net income growth
- +74.32%
- 2025 vs 2024
- Net margin
- 11.4%
- 2024: 6.9%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 733 | 546 | 557 | 677 | 638 | 542 | 569 | 558 | 611 | 490 | 556 | 554 |
| Depreciation and amortization | 326 | 315 | 319 | 315 | 308 | 290 | 322 | 294 | 285 | 263 | 253 | 254 |
| Capital expenditure | -302 | -297 | -399 | -297 | -285 | -212 | -397 | -272 | -217 | -170 | -318 | -221 |
| Investing cash flow | -606 | -356 | -589 | -414 | -417 | -603 | -513 | -852 | -460 | -1,335 | -395 | -581 |
| Financing cash flow | -186 | -96.1 | -28.5 | -239 | -206 | 113 | -95.4 | 338 | -177 | 878 | -178 | 22.7 |
| Dividends paid | -88.4 | -88.7 | -89.9 | -81.0 | -81.5 | -81.5 | -81.0 | -74.0 | -73.7 | -73.6 | -73.8 | -65.7 |
| Share repurchases | -331 | -308 | -63.8 | -442 | -2.3 | -29.0 | -0.7 | -0.9 | -0.4 | -30.9 | -1.6 | -0.7 |
| Debt issued | 562 | 1,156 | 452 | 608 | 831 | 783 | 472 | 950 | 789 | 2,353 | 576 | 704 |
| Debt repaid | -326 | -850 | -321 | -320 | -947 | -542 | -486 | -525 | -884 | -1,351 | -670 | -615 |
| Effect of exchange rates | -1.7 | -0.7 | -0.0 | -1.4 | 2.4 | -0.4 | -0.5 | 1.0 | -0.5 | -0.6 | 2.4 | -1.2 |
| Net change in cash | -61.1 | 93.1 | -61.0 | 23.1 | 18.0 | 51.3 | -40.3 | 46.1 | -25.3 | 33.6 | -15.0 | -5.3 |
| Free cash flow | 431 | 249 | 157 | 380 | 353 | 329 | 172 | 286 | 394 | 320 | 237 | 333 |
| Levered free cash flow | 348 | 152 | 207 | 300 | 360 | 261 | 32.5 | 169 | 383 | 217 | 219 | 306 |