Waste Connections (WCN) Gross Margin (2015 - 2026)
Waste Connections' Gross Margin came in at 42.25% for Q2 2026, up 0.12 percentage points from 42.13% a year earlier but down 0.33 percentage points from the prior quarter.
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Analysis
Waste Connections (WCN) Gross Margin (2015 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Waste Connections reported Gross Margin of 42.53%, up 0.50 percentage points year-over-year; for FY2025, it came in at 42.37%, up 0.58 percentage points from FY2024.
- Gross Margin has increased in each of the last three years, with a five-year change of +2.54 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 41.79% in FY2024 (+0.94 pp), 40.86% in FY2023 (+0.98 pp), 39.88% in FY2022 (-0.72 pp) and 40.60% in FY2021 (+0.77 pp).
- The five-year range for quarterly Gross Margin is 39.12% (Q4 2022) to 42.77% (Q3 2025).
- Year-over-year, Gross Margin has increased for 13 consecutive quarters, with an average year-over-year change of +0.50 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q4 2023 (a gain of 2.14 percentage points), and the weakest in Q2 2022 (a drop of 1.14 percentage points).
- Business Quant data shows WCN's Gross Margin at 42.58% (Q1 2026), 42.52% (Q4 2025) and 42.77% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Waste Management | 94.52 Bn | 93.36 Bn | 2.75 Bn | 40.21% |
| 2 | Republic Services | 75.60 Bn | 75.21 Bn | 1.90 Bn | 41.59% |
| 3 | Waste Connections | 47.74 Bn | 47.38 Bn | 1.14 Bn | 43.10% |
| 4 | GFL Environmental | 16.98 Bn | 14.99 Bn | - | - |
| 5 | Clean Harbors | 15.14 Bn | 12.48 Bn | 661.44 Mn | 35.38% |
| 6 | Casella Waste Systems | 6.31 Bn | 5.43 Bn | 178.80 Mn | 32.88% |
| 7 | Onterris | 829.12 Mn | 775.01 Mn | 88.27 Mn | 43.47% |
| 8 | Perma Fix Environmental Services | 330.79 Mn | 223.53 Mn | 552,000.00 | 3.08% |
| 9 | Comstock | 147.04 Mn | 6.26 Mn | -606,061.00 | -165.03% |
| 10 | Deep Isolation Nuclear | 109.56 Mn | 109.56 Mn | 707,000.00 | 53.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 43.10% |
| Jun 30, 2026 | 42.25% |
| Mar 31, 2026 | 42.58% |
| Dec 31, 2025 | 42.52% |
| Sep 30, 2025 | 42.77% |
| Jun 30, 2025 | 42.13% |
| Mar 31, 2025 | 42.04% |
| Dec 31, 2024 | 41.39% |
| Sep 30, 2024 | 42.52% |
| Jun 30, 2024 | 42.13% |
| Mar 31, 2024 | 41.05% |
| Dec 31, 2023 | 41.26% |
| Sep 30, 2023 | 41.66% |
| Jun 30, 2023 | 40.76% |
| Mar 31, 2023 | 39.65% |
| Dec 31, 2022 | 39.12% |
| Sep 30, 2022 | 40.39% |
| Jun 30, 2022 | 40.11% |
| Mar 31, 2022 | 39.89% |
| Dec 31, 2021 | 39.61% |
API Access
Waste Connections Gross 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=gross-margin&ticker=WCN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=WCN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();