Waste Connections (WCN) Return on Invested Capital [ROIC] (2009 - 2025)
Waste Connections (WCN) reported Return on Invested Capital [ROIC] of 7.41% for Q2 2026, up 2.08 percentage points from 5.33% a year earlier but down 0.06 percentage points from the prior quarter.
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Analysis
Waste Connections (WCN) Return on Invested Capital [ROIC] (2009 - 2025) Analysis & Trends
For FY2025, Waste Connections posted Return on Invested Capital [ROIC] of 7.86%, up 2.19 percentage points from FY2024.
- Return on Invested Capital [ROIC] has a five-year change of +4.97 percentage points (FY2020 to FY2025).
- By year, Return on Invested Capital [ROIC] came in at 5.67% in FY2024 (-1.06 pp), 6.73% in FY2023 (-0.86 pp), 7.59% in FY2022 (+0.54 pp) and 7.05% in FY2021 (+4.16 pp).
- Five-year quarterly Return on Invested Capital [ROIC] spans a low of 5.10% in Q3 2025 and a high of 7.68% in Q4 2025.
- Year over year, Return on Invested Capital [ROIC] has now increased in each of the last three quarters, with an average year-over-year change of +0.04 percentage points over the last eight quarters.
- The high point for year-over-year Return on Invested Capital [ROIC] in five years was Q4 2021 (a gain of 4.12 percentage points); the low point was Q3 2025 (a drop of 2.13 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 7.47% (Q1 2026), 7.68% (Q4 2025) and 5.10% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Yr) |
|---|---|---|---|---|---|
| 1 | Waste Management | 94.39 Bn | 93.32 Bn | 2.75 Bn | 10.47% |
| 2 | Republic Services | 75.41 Bn | 75.02 Bn | 1.90 Bn | 10.96% |
| 3 | Waste Connections | 47.83 Bn | 47.48 Bn | 1.14 Bn | 7.86% |
| 4 | GFL Environmental | 15.73 Bn | 15.73 Bn | 304.74 Mn | 13.37% |
| 5 | Clean Harbors | 15.30 Bn | 12.64 Bn | 661.44 Mn | 9.17% |
| 6 | Casella Waste Systems | 5.92 Bn | 5.24 Bn | 184.65 Mn | 1.41% |
| 7 | Onterris | 832.01 Mn | 777.91 Mn | 88.27 Mn | 0.00% |
| 8 | Enviri | 710.17 Mn | 67.28 Mn | -162.22 Mn | - |
| 9 | Oio | 619.48 Mn | 617.91 Mn | - | -24.73% |
| 10 | Perma Fix Environmental Services | 328.26 Mn | 221.00 Mn | 552,000.00 | -20.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 7.86% |
| Dec 31, 2024 | 5.67% |
| Dec 31, 2023 | 6.73% |
| Dec 31, 2022 | 7.59% |
| Dec 31, 2021 | 7.05% |
| Dec 31, 2020 | 2.89% |
| Dec 31, 2019 | 6.13% |
| Dec 31, 2018 | 6.18% |
| Dec 31, 2017 | 6.44% |
| Dec 31, 2016 | 4.61% |
| Dec 31, 2015 | -1.16% |
| Dec 31, 2014 | 7.36% |
| Dec 31, 2013 | 6.06% |
| Dec 31, 2012 | 4.99% |
| Dec 31, 2011 | -3.21% |
| Dec 31, 2010 | 4.81% |
| Dec 31, 2009 | 7.60% |
API Access
Waste Connections Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D-annual&ticker=WCN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]-annual", "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=return-on-invested-capital-%5Broic%5D-annual&ticker=WCN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();