Waste Connections (WCN) FCF Margin (2015 - 2026)
Waste Connections (WCN) posted FCF Margin of 16.82% for Q2 2026, up 60.16% sequentially from 10.5% in Q1 2026, and up 216.0% YoY from 5.32% in Q2 2025.
Waste Connections (WCN) FCF Margin (2015 - 2026) Analysis & Trends
Waste Connections has reported FCF Margin for 12 years, with the latest figure at 16.82% in Q2 2026.
- Quarterly FCF Margin rose 216.0% year-over-year to 16.82% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 12.63% (up 28.0% YoY) and the FY2025 annual result came in at 13.04%, down 11.0% from the prior year.
- FCF Margin grew to 16.82% in Q2 2026 per WCN's latest filing, from 10.5% in the prior quarter.
- Over five years, FCF Margin peaked at 17.61% in Q2 2023 and troughed at 7.27% in Q4 2025.
- A 5-year average of 14.09% and a median of 14.82% in 2025 frame the typical range for FCF Margin.
- The sharpest annual moves came in 2025 and 2026: FCF Margin surged 323 bps in 2025, then tumbled 427 bps in 2026.
- Over 5 years, FCF Margin stood at 12.2% in 2022, then dropped by 4 bps to 11.67% in 2023, then plunged by 35 bps to 7.62% in 2024, then fell by 5 bps to 7.27% in 2025, then surged by 131 bps to 16.82% in 2026.
- According to Business Quant data, FCF Margin over the past three periods registered 16.82%, 10.5%, and 7.27% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Waste Management | 90.39 Bn | 89.83 Bn | 2.73 Bn | 16.40% |
| 2 | Republic Services | 67.62 Bn | 67.51 Bn | 1.87 Bn | 17.18% |
| 3 | Waste Connections | 42.71 Bn | 42.61 Bn | 1.08 Bn | 16.82% |
| 4 | Clean Harbors | 17.07 Bn | 16.56 Bn | 608.78 Mn | 6.51% |
| 5 | GFL Environmental | 14.89 Bn | 14.70 Bn | 278.90 Mn | 39.66% |
| 6 | Casella Waste Systems | 5.91 Bn | 5.89 Bn | 178.80 Mn | 4.87% |
| 7 | Sino Green Land | 646.75 Mn | 646.67 Mn | -78,936.00 | -272.32% |
| 8 | Onterris | 529.21 Mn | 515.52 Mn | 82.26 Mn | 0.27% |
| 9 | Perma Fix Environmental Services | 334.90 Mn | 300.95 Mn | -2.50 Mn | -54.27% |
| 10 | American Battery Technology | 307.22 Mn | 267.94 Mn | 737,749.00 | -120.60% |
Historic Data
Download 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% |