Waste Connections, Inc.

Refuse Systems·WOODBRIDGE, A6·FY end 12/31·CIK 1318220

Financials

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$9.5B	$8.9B	$8.0B	$7.2B	$6.2B
Gross Profit	—	—	—	—	—	—
Operating Income	$1.7B	$1.1B	$1.2B	$1.2B	$1.0B
Net Income	$1.1B	$617.6M	$762.8M	$835.7M	$618.0M
Operating CF	$2.4B	$2.2B	$2.1B	$2.0B	$1.7B
Capex	$1.2B	$1.1B	$934.0M	$912.7M	$744.3M
Free Cash Flow	$1.2B	$1.2B	$1.2B	$1.1B	$953.9M
Buybacks	$505.5M	$0	$0	$425.0M	$339.0M
Dividends	$333.8M	$302.3M	$270.6M	$243.0M	$220.2M

Gross Margin	—	—	—	—	—	—
Operating Margin	18.1%	12.0%	15.4%	17.2%	16.9%
Net Margin	11.4%	6.9%	9.5%	11.6%	10.0%
FCF Margin	13.0%	13.2%	14.9%	15.4%	15.5%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	24.1%	19.2%	22.4%	20.3%	19.8%
Debt / Equity	—	—	—	0.97	0.72
Buybacks / FCF	40.9%	0.0%	0.0%	38.3%	35.5%

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