Waste Connections (WCN) FCF Margin (2015 - 2026)

Waste Connections has disclosed FCF Margin across 12 years of filings, most recently posting 10.5% for Q1 2026.

• FCF Margin for Q1 2026 came in at 10.5%, down 427.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 12.02% (down 100.0% YoY), and the FY2025 annual result was 13.04%, down 11.0% from the prior year.
• FCF Margin came in at 10.5% for Q1 2026 at Waste Connections, up from 7.27% in the prior quarter.
• In the past five years, FCF Margin ranged from a high of 53.05% in Q4 2023 to a low of 7.27% in Q4 2025.
• The 5-year median for FCF Margin is 14.87% (2022), against an average of 16.36%.
• Across the five-year window, FCF Margin jumped 4085 bps in 2023 and sank 4543 bps in 2024, its largest moves.
• Waste Connections' FCF Margin stood at 12.2% in 2022, then jumped by 335 bps to 53.05% in 2023, then plunged by 86 bps to 7.62% in 2024, then dropped by 5 bps to 7.27% in 2025, then surged by 44 bps to 10.5% in 2026.
• The last three FCF Margin figures came in at 10.5% (Q1 2026), 7.27% (Q4 2025), and 15.47% (Q3 2025), per Business Quant data.