Waste Connections (WCN) FCF Margin (2015 - 2026)
Waste Connections' FCF Margin was 16.82% in Q2 2026, up 2.16 percentage points from 14.66% a year earlier and up 6.32 percentage points from the prior quarter.
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Analysis
Waste Connections (WCN) FCF Margin (2015 - 2026) Analysis & Trends
On a trailing twelve-month basis, Waste Connections' FCF Margin was 12.63% through Jun 30, 2026, up 0.28 percentage points year-over-year; for FY2025, it came in at 13.04%, down 0.11 percentage points from FY2024.
- FCF Margin has now declined for four consecutive years, with a five-year change of -1.86 percentage points (FY2020 to FY2025).
- In earlier years, FCF Margin was 13.15% in FY2024 (-1.72 pp), 14.87% in FY2023 (-0.52 pp), 15.39% in FY2022 (-0.12 pp) and 15.51% in FY2021 (+0.61 pp).
- The Q2 2026 figure marks the highest quarterly FCF Margin since Q2 2024.
- Compared with a year earlier, FCF Margin was higher in two of the last eight quarters, with an average year-over-year change of -1.34 percentage points.
- The best year-over-year quarter for FCF Margin over five years was Q4 2021 (a gain of 6.73 percentage points); the worst was Q3 2021 (a drop of 6.82 percentage points).
- Per Business Quant data, WCN's FCF Margin in the three quarters before Q2 2026 was 10.50% (Q1 2026), 7.27% (Q4 2025) and 15.47% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Waste Management | 82.84 Bn | 81.75 Bn | 2.73 Bn | 16.40% |
| 2 | Republic Services | 64.88 Bn | 64.50 Bn | 1.87 Bn | 17.18% |
| 3 | Waste Connections | 39.22 Bn | 38.85 Bn | 1.08 Bn | 16.82% |
| 4 | Clean Harbors | 16.45 Bn | 13.46 Bn | 608.78 Mn | 6.51% |
| 5 | GFL Environmental | 15.66 Bn | 13.34 Bn | 385.80 Mn | 36.19% |
| 6 | Casella Waste Systems | 5.02 Bn | 4.14 Bn | 178.80 Mn | 4.87% |
| 7 | Onterris | 495.05 Mn | 454.32 Mn | 82.26 Mn | 0.27% |
| 8 | Perma Fix Environmental Services | 326.81 Mn | 218.37 Mn | -2.50 Mn | -54.27% |
| 9 | Deep Isolation Nuclear | 204.72 Mn | 204.72 Mn | 707,000.00 | -216.76% |
| 10 | Comstock | 179.25 Mn | 182.57 Mn | -896,073.00 | -5,527.91% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 16.82% |
| Mar 31, 2026 | 10.50% |
| Dec 31, 2025 | 7.27% |
| Sep 30, 2025 | 15.47% |
| Jun 30, 2025 | 14.66% |
| Mar 31, 2025 | 14.77% |
| Dec 31, 2024 | 7.62% |
| Sep 30, 2024 | 12.24% |
| Jun 30, 2024 | 17.53% |
| Mar 31, 2024 | 15.46% |
| Dec 31, 2023 | 11.67% |
| Sep 30, 2023 | 16.12% |
| Jun 30, 2023 | 17.61% |
| Mar 31, 2023 | 14.03% |
| Dec 31, 2022 | 12.20% |
| Sep 30, 2022 | 14.87% |
| Jun 30, 2022 | 17.27% |
| Mar 31, 2022 | 17.53% |
| Dec 31, 2021 | 10.06% |
| Sep 30, 2021 | 13.36% |
API Access
Waste Connections FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=WCN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "WCN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=WCN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();