WCN Waste Connections, Inc. Common Shares
NYSE · Commercial Services & Supplies · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 23, 2026
$153.82
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$146.8952w low
$179.7452w high
Market Cap (MRQ)
$38.79B
P/E (TTM)
37.1
EPS (TTM)
$4.15
Revenue (TTM)
$9.76B
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52W Range
$147–$180
Analyst Rating
BUY
Price Target
$202
P/E
37.1
ROE
13.0%
Net Profit Margin
10.9%
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WCN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$153.82
Market Cap (MRQ)
$38.79B
P/E (TTM)
37.1
EPS (TTM)
$4.15
Revenue (TTM)
$9.76B
Div Yield
0.85%
ROE (TTM)
13.0%
52W Range
$147–$180
WCN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| June 19, 2017 | 3-for-2 | Forward |
| Nov. 15, 2010 | 3-for-2 | Forward |
| March 14, 2007 | 3-for-2 | Forward |
| June 25, 2004 | 3-for-2 | Forward |
About Waste Connections, Inc. Common Shares Company overview from Wikipedia
Waste Connections, Inc. is a North American integrated waste services company that provides waste collection, transfer, disposal and recycling services, primarily of solid waste. It has operations in both the United States and Canada. Its headquarters is located in The Woodlands, Texas. It is the third largest waste management company in North America.
History
The company was founded in 1997 by a group of professionals in Washington and Idaho with industry-related experience: James Cutler, Brad Bishop, Frank Cutler and Ron Mittelstaedt. Waste Connections, Inc. expanded very quickly. Within about a year of its founding the company decided to go public, launching its IPO in May 1998. The company then slowly expanded into California and the western United States. As of 2011, It had operations in 32 of the 50 U.S states. In December 2011, the company announced that it was moving its headquarters from Folsom, CA to The Woodlands, Texas, a suburb of Houston. Chief Executive Officer, Ron Mittelstaedt, cited California's high taxes and dysfunctional legislature as key reasons for the move.
In September 2012, it acquired R360 Environmental Solutions, a Texas waste company specializing in the oil industry. In January 2016, Waste Connections bought Progressive Waste Services of Canada for $2.67 billion. Under the deal, Waste Connections shareholders received 70% of the new company, which moved its tax headquarters to Canada. It later re-branded its Canadian division Waste Connections of Canada.
The company completed 24 acquisitions in 2024 and 13 in 2023. This was part of a broader industry trend of large companies like Waste Management and Republic Services acquiring smaller firms. The 2024 acquisitions added $750 million in annualized revenues to Waste Connections. Notable acquisitions include Royal Waste Services and Waste-Away. The Royal Waste Services entrenches Waste Connections as one of the largest commercial waste companies in New York City. As part of the 2024 acquisitions, Waste Connections added 30 facilities to its Canadian portfolio.
Operations
Waste Connections's primary business is to provide solid waste collection and disposal services. It most often does this through contracts with municipalities to collect the waste in that municipality, for an agreed-upon rate. It also provides services directly to residential, commercial, or industrial customers. In addition, Waste Connections runs landfills for waste disposal (82 solid waste landfills as of September 2019).
In Q3 2017, 67% of revenue was from solid waste collection, 21% from solid waste disposal and transfer, 4% from recycling, 5% from its oil industry waste operations, and 3% from other sources. 16% of revenue was from Canada, with the rest from the United States.
As of 2024, three states in the U.S. passed Extended producer responsibility laws. These laws attempt to decrease externalities by making waste producers have additional responsibility for their products once they enter the waste system. These laws have not been fully implemented in the U.S. but Oregon's law is scheduled to take effect in 2025 and Colorado's is scheduled to take effect in 2026. Waste Connections expects to see additional revenues for their Materials recovery facilities (MRF) as these laws take effect.
Waste Connections is partnered with AMP to use AMP's AI powered robots which facilitate recycling. Waste Connections recycled 2.21 million tons in 2023, and is planning to expand capacity by contracting AMP to build an operate an entirely new MRF in Commerce City, Colorado. It is scheduled to open in 2026.
Incidents
In September 2019, the investigative journalism program CBC Marketplace installed trackers into bales of plastic and commissioned three plastic recycling companies to process them: GFL Environmental, Merlin Plastics, and Waste Connections Canada. Merlin Plastics shredded and recycled the bales and GFL Environmental incinerated the bales in a waste-to-energy facility. Trackers indicated that Waste Connections dumped the plastic bales into a landfill in Richmond and a junkyard in Surrey, British Columbia instead of recycling them. The company responded "There was some miscommunication and the driver took this load to a waste facility".
In March 2024, Waste Connections opened a relief fund to Val Verde, Live Oak, Hasley Hills, Hillcrest Parkway, Hasley Canyon and Stevenson Ranch residents pay to mitigate noxious fumes that leaked from their Chiquita Canyon Landfill in California. The company states that at least $25 million will be available through the fund, and that they distributed air purifiers to the residents. In June, the EPA announced there was an on-going investigation to the landfill and that Waste Connection could face $59,000 per day in civil penalties if they do not comply with regulations.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorIndustrials
industryCommercial Services & Supplies
employees24,214
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$9.47B2021-12-31 → 2025-12-31
EPS$4.172021-12-31 → 2025-12-31
Free Cash Flow$1.23B2021-12-31 → 2025-12-31
Net margin10.9%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | WCN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 37.1 | · | 31.6 | Overvalued | |
| P/S (TTM) | 4.0 | · | 3.5 | Overvalued | |
| P/B (MRQ) | 4.9 | · | 5.4 | Fair value | |
| Price / FCF (TTM) | 31.5 | · | · | · | |
| Price / Cash Flow (TTM) | 15.4 | · | 16.0 | Overvalued | |
| Price / Tangible Book (MRQ) | 6.5 | · | · | · | |
| PEG Ratio | ≈0.9 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | WCN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 17.0% | · | 16.3% | In line | |
| EBITDA Margin (TTM) | 30.1% | · | 19.4% | Top tier | |
| Pretax Margin (TTM) | 14.2% | · | 13.6% | In line | |
| Net Profit Margin (TTM) | 10.9% | · | 10.5% | In line | |
| ROA (TTM) | 5.0% | · | 5.5% | Weak | |
| ROE (TTM) | 13.0% | · | 14.0% | Weak | |
| ROIC | 15.8% | · | 13.2% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | WCN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 0.7 | · | 1.1 | Low liquidity | |
| Quick Ratio | 0.5 | · | 0.7 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | WCN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 6.1% | · | · | · | |
| Revenue CAGR 3Y | 9.5% | · | · | · | |
| Revenue CAGR 5Y | 11.7% | · | · | · | |
| EPS YoY | 74.5% | · | · | · | |
| Net Income YoY | 74.3% | · | · | · | |
| EPS CAGR 3Y | 8.8% | · | · | · | |
| EPS CAGR 5Y | 39.8% | · | · | · | |
| Net Income CAGR 3Y | 8.8% | · | · | · | |
| Net Income CAGR 5Y | 39.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | WCN | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.5 | · | 0.8 | Weak | |
| Receivables Turnover | 9.7 | · | 7.5 | Top tier | |
| Revenue / Employee | ≈$391.0K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield0.85%
Payout Ratio31.0%
Annualized Payout≈$1.40
5Y Div CAGR≈11.2%
Growth Streak≈14
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 6, 2026 | $0.35 | USD | ≈0.63% |
| May 6, 2026 | $0.35 | USD | ≈0.87% |
| Feb 25, 2026 | $0.35 | USD | ≈0.78% |
| Aug 6, 2025 | $0.32 | USD | ≈0.67% |
| May 7, 2025 | $0.32 | USD | ≈0.62% |
| Feb 27, 2025 | $0.32 | USD | ≈0.64% |
| Nov 7, 2024 | $0.32 | USD | ≈0.64% |
| Aug 7, 2024 | $0.29 | USD | ≈0.64% |
| May 7, 2024 | $0.29 | USD | ≈0.67% |
| Feb 27, 2024 | $0.29 | USD | ≈0.64% |
| Nov 7, 2023 | $0.29 | USD | ≈0.80% |
| Aug 15, 2023 | $0.26 | USD | ≈0.74% |
| May 9, 2023 | $0.26 | USD | ≈0.70% |
| Feb 28, 2023 | $0.26 | USD | ≈0.72% |
| Nov 15, 2022 | $0.26 | USD | ≈0.69% |
| Aug 17, 2022 | $0.23 | USD | ≈0.64% |
| May 17, 2022 | $0.23 | USD | ≈0.70% |
| Mar 1, 2022 | $0.23 | USD | ≈0.69% |
| Nov 8, 2021 | $0.23 | USD | ≈0.63% |
| Aug 17, 2021 | $0.21 | USD | ≈0.65% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
3.2%
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $1.50 | $1.37 | 9.5% | |
| March 31, 2026 | $1.23 | $1.20 | 2.9% | |
| Dec. 31, 2025 | $1.29 | $1.29 | -0.31% | |
| Sept. 30, 2025 | $1.44 | $1.40 | 3.1% | |
| June 30, 2025 | $1.29 | $1.26 | 2.0% | |
| March 31, 2025 | $1.13 | $1.11 | 1.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.47B | $8.92B | $8.02B | $7.21B | $6.15B | $5.45B | $5.39B | $4.92B | $4.63B | $3.38B | $2.12B | $2.08B | |
| Cost of Revenue | $5.46B | $5.19B | $4.74B | $4.34B | $3.65B | $3.28B | $3.20B | $2.87B | $2.70B | $1.96B | $1.18B | $1.14B | |
| SG&A Expense | $960M | $883M | $799M | $696M | $612M | $538M | $546M | $524M | $510M | $474M | $237M | $229M | |
| Operating Income | $1.71B | $1.07B | $1.24B | $1.24B | $1.04B | $412M | $838M | $832M | $627M | $452M | $-62M | $449M | |
| Interest Expense | · | · | $275M | $202M | $163M | $162M | $147M | $132M | $125M | $93M | $64M | $65M | |
| Other Non-op | $30M | $10M | $12M | $3M | $6M | $-1M | $6M | $-170.0K | $2M | $53.0K | $-1M | $1M | |
| Pretax Income | $1.42B | $763M | $984M | $1.05B | $771M | $254M | $706M | $707M | $509M | $361M | $-126M | $386M | |
| Income Tax | $341M | $146M | $221M | $213M | $152M | $50M | $139M | $160M | $-69M | $114M | $-32M | $152M | |
| Net Income | $1.08B | $618M | $763M | $836M | $618M | $205M | $567M | $547M | $577M | $247M | $-96M | $233M | |
| EPS (Basic) | $4.18 | $2.39 | $2.96 | $3.25 | $2.37 | $0.78 | $2.15 | $2.07 | $2.19 | $1.07 | $-0.52 | $1.87 | |
| EPS (Diluted) | $4.17 | $2.39 | $2.95 | $3.24 | $2.36 | $0.78 | $2.14 | $2.07 | $2.18 | $1.07 | $-0.52 | $1.86 | |
| Shares (Basic) | 257,323,595 | 257,965,871 | 257,551,129 | 257,383,578 | 261,166,723 | 263,189,699 | 263,792,693 | 263,650,155 | 263,682,608 | 230,325,012 | 185,237,896 | 124,215,346 | |
| Shares (Diluted) | 257,976,741 | 258,662,190 | 258,149,244 | 258,038,801 | 261,728,470 | 263,687,539 | 264,526,561 | 264,395,618 | 264,302,411 | 231,081,496 | 185,237,896 | 124,787,421 | |
| EBITDA | $2.94B | $2.23B | $2.24B | $2.16B | $1.85B | $1.16B | $1.58B | $1.51B | $1.26B | $916M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $46M | $62M | $78M | $79M | $147M | $617M | $327M | $319M | $434M | $154M | $11M | $14M | |
| Receivables | $1.02B | $935M | $857M | $834M | $710M | $630M | $663M | $610M | $554M | $485M | $255M | · | |
| Prepaid Expense | $241M | $230M | $206M | $205M | $176M | $161M | $141M | $164M | $187M | $98M | $47M | · | |
| Current Assets | $1.31B | $1.23B | $1.14B | $1.12B | $1.03B | $1.41B | $1.13B | $1.09B | $1.18B | $743M | $362M | · | |
| PP&E (Net) | $8.73B | $8.04B | $7.23B | $6.95B | $5.72B | $5.28B | $5.52B | $5.17B | $4.82B | $4.74B | $2.74B | · | |
| PP&E (Gross) | $16.22B | $14.63B | $13.07B | $12.07B | $10.28B | $9.29B | $8.96B | $8.05B | $7.19B | $6.63B | $4.28B | · | |
| Accum. Depreciation | $7.48B | $6.60B | $5.84B | $5.12B | $4.55B | $4.00B | $3.45B | $2.88B | $2.37B | $1.90B | $1.54B | · | |
| Goodwill | $8.39B | $7.95B | $7.40B | $6.90B | $6.19B | $5.73B | $5.51B | $5.03B | $4.68B | $4.39B | $1.42B | $1.69B | |
| Intangibles | $2.01B | $1.99B | $1.60B | $1.67B | $1.35B | $1.16B | $1.16B | $1.13B | $1.09B | $1.07B | $511M | · | |
| Other Non-current Assets | $109M | $91M | $100M | $126M | $115M | $92M | $86M | $73M | $68M | $68M | $41M | · | |
| Total Assets | $21.13B | $19.82B | $17.92B | $17.13B | $14.70B | $13.99B | $13.74B | $12.63B | $12.01B | $11.10B | $5.07B | $5.25B | |
| Accounts Payable | $765M | $637M | $642M | $639M | $393M | $291M | $437M | $360M | $331M | $251M | $115M | · | |
| Accrued Liabilities | $810M | $737M | $521M | $431M | $443M | $405M | $281M | $316M | $278M | $269M | $136M | · | |
| Current Liabilities | $2.12B | $1.88B | $1.69B | $1.51B | $1.23B | $1.03B | $1.01B | $887M | $803M | $692M | $378M | · | |
| Capital Leases | $267M | $272M | $238M | $165M | $130M | $147M | $160M | · | · | · | · | · | |
| Deferred Tax | $1.09B | $958M | $1.02B | $1.01B | $851M | $760M | $819M | $760M | $691M | $779M | $452M | · | |
| Other Non-current Liabilities | $576M | $747M | $524M | $418M | $421M | $456M | $417M | $324M | $316M | $331M | $125M | · | |
| Total Liabilities | $12.88B | $11.96B | $10.22B | $10.02B | $7.71B | $7.13B | $6.80B | $6.17B | $5.74B | $5.45B | $3.13B | · | |
| Long-term Debt | · | · | · | $6.90B | $5.05B | $4.74B | $4.38B | $4.17B | $3.93B | $3.63B | $2.16B | · | |
| Total Debt | · | · | · | $6.90B | $5.05B | $4.72B | $4.35B | $4.16B | $3.91B | $3.62B | · | · | |
| Retained Earnings | $5.20B | $4.46B | $4.14B | $3.65B | $3.06B | $2.66B | $2.65B | $2.26B | $1.86B | $1.41B | $1.26B | · | |
| Treasury Stock | $0 | $0 | $0 | $0 | · | · | · | · | · | · | · | · | |
| AOCI | $-111M | $-206M | $-10M | $-57M | $40M | $-651.0K | $-11M | $-75M | $108M | $-43M | $-12M | · | |
| Stockholders' Equity | $8.25B | $7.86B | $7.69B | $7.11B | $6.99B | $6.86B | $6.93B | $6.45B | $6.27B | $5.65B | $1.99B | · | |
| Liabilities + Equity | $21.13B | $19.82B | $17.92B | $17.13B | $14.70B | $13.99B | $13.74B | $12.63B | $12.01B | $11.10B | $5.12B | · | |
| Shares Outstanding | 255,614,663 | 258,019,389 | 257,600,479 | 257,145,716 | 260,212,496 | 262,824,990 | 263,618,161 | 263,141,413 | 263,494,670 | 262,803,271 | 183,564,362 | 185,977,220 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1.23B | $1.16B | $1.00B | $919M | $813M | $752M | $744M | $680M | $632M | $464M | $269M | $258M | |
| Stock-based Comp | $79M | $78M | $70M | $63M | $58M | $46M | $43M | $44M | $39M | $45M | $20M | $18M | |
| Deferred Tax | $117M | $-57M | $6M | $93M | $15M | $-50M | $55M | $78M | $-152M | $42M | $-132M | $31M | |
| Amort. of Intangibles | $202M | $190M | $158M | $156M | $139M | $131M | $126M | $108M | $102M | · | · | · | |
| Other Non-cash | $-91M | $427M | $284M | $111M | $194M | $456M | $132M | $62M | $91M | $-2M | · | · | |
| Operating Cash Flow | $2.41B | $2.23B | $2.13B | $2.02B | $1.70B | $1.41B | $1.54B | $1.41B | $1.19B | $795M | $577M | $545M | |
| CapEx | $1.18B | $1.06B | $934M | $913M | $744M | $597M | $634M | $546M | $479M | $345M | $239M | $241M | |
| Investing Cash Flow | $-2.02B | $-3.16B | $-1.58B | $-3.09B | $-1.69B | $-1.05B | $-1.43B | $-1.37B | $-861M | $-293M | $-471M | · | |
| Debt Issued | $2.67B | $4.56B | $1.82B | $4.82B | $2.11B | $1.82B | $1.58B | $1.02B | $974M | $3.47B | $1.49B | $432M | |
| Net Debt Issued | $544M | $1.32B | $-233M | $1.74B | $219M | $273M | $105M | $52M | $204M | $-245M | · | · | |
| Stock Issued | $323.0K | $2M | $794.0K | $660.0K | $430.0K | $679.0K | $4M | $3M | $11M | $20M | · | · | |
| Stock Repurchased | $506M | $0 | $0 | $425M | $339M | $106M | · | $59M | · | · | $91M | $7M | |
| Net Stock Activity | $-505M | $2M | $794.0K | $-424M | $-339M | $-105M | $4M | $-56M | $11M | $20M | · | · | |
| Dividends Paid | $334M | $302M | $271M | $243M | $220M | $200M | $175M | $153M | $132M | $93M | $66M | $59M | |
| Financing Cash Flow | $-360M | $945M | $-544M | $1.03B | $-499M | $-78M | $-96M | $-188M | $57M | $-355M | $-110M | · | |
| Net Change in Cash | $31M | $14M | $3M | $-38M | $-495M | $291M | $19M | $-149M | $385M | $147M | $-3M | $762.0K | |
| Taxes Paid | $221M | $216M | $207M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $1.23B | $1.17B | $1.19B | $1.11B | $954M | $811M | $906M | $865M | $708M | $451M | · | · | |
| Levered FCF | · | · | $980M | $949M | $823M | $681M | $788M | $763M | $566M | $387M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 18.1% | 12.0% | 15.4% | 17.2% | 16.9% | 7.6% | 15.6% | 16.9% | 13.5% | 13.4% | · | · | |
| Net Margin | 11.4% | 6.9% | 9.5% | 11.6% | 10.1% | 3.8% | 10.5% | 11.1% | 12.5% | 7.3% | · | · | |
| Pretax Margin | 15.0% | 8.6% | 12.3% | 14.5% | 12.5% | 4.7% | 13.1% | 14.4% | 11.0% | 10.7% | · | · | |
| EBITDA Margin | 31.1% | 25.0% | 27.9% | 30.0% | 30.1% | 21.4% | 29.3% | 30.7% | 27.2% | 27.1% | · | · | |
| ROA | 5.2% | 3.1% | 4.3% | 5.2% | 4.3% | 1.5% | 4.3% | 4.4% | 5.0% | 3.0% | · | · | |
| ROE | 13.2% | 7.9% | 10.3% | 11.9% | 8.9% | 3.0% | 8.5% | 8.6% | 9.7% | 6.5% | · | · | |
| ROIC | 15.8% | 11.0% | 12.5% | 7.1% | 6.9% | 2.9% | 6.0% | 6.1% | 7.0% | 3.3% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 0.7 | 0.7 | 0.7 | 0.8 | 1.4 | 1.1 | 1.3 | 1.5 | 1.2 | · | · | |
| Quick Ratio | 0.5 | 0.5 | 0.6 | 0.6 | 0.7 | 1.2 | 1.0 | 1.1 | 1.2 | 0.9 | · | · | |
| Debt / Equity | · | · | · | 1.0 | 0.7 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | · | · | |
| LT Debt / Equity | · | · | · | 1.0 | 0.7 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | · | · | |
| Interest Coverage | · | · | 4.5 | 6.1 | 6.4 | 2.5 | 5.7 | 6.3 | 5.0 | 4.9 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.4 | 0.5 | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | · | · | |
| Receivables Turnover | 9.7 | 10.0 | 9.5 | 9.3 | 9.2 | 8.4 | 8.5 | 8.5 | 8.9 | 9.1 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $32.26 | $30.46 | $29.86 | $27.64 | $26.86 | $26.10 | $26.30 | $24.53 | $23.79 | $32.23 | · | · | |
| Revenue / Share | $36.70 | $34.48 | $31.07 | $27.95 | $23.50 | $20.65 | $20.37 | $18.62 | $17.52 | $21.91 | · | · | |
| Cash Flow / Share | $9.36 | $8.62 | $8.24 | $7.84 | $6.49 | $5.34 | $5.82 | $5.34 | $4.49 | $5.16 | · | · | |
| Cash / Share | $0.18 | $0.24 | $0.30 | $0.31 | $0.57 | $2.35 | $1.24 | $1.21 | $1.65 | $0.88 | · | · | |
| Dividend Paid / Share | $1.29 | $1.17 | $1.05 | $0.94 | $0.84 | $0.76 | $0.67 | $0.58 | $0.50 | $0.41 | $0.36 | $0.47 | |
| EPS (TTM) | $4.17 | $2.39 | $2.95 | $3.24 | $2.36 | $0.78 | $2.14 | $2.07 | $2.18 | $1.07 | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 6.1% | 11.2% | 11.2% | 17.2% | 13.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 9.5% | 13.2% | 13.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 11.7% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 74.5% | -19.0% | -8.9% | 37.3% | 202.6% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 8.8% | 0.42% | 55.8% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 39.8% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 74.3% | -19.0% | -8.7% | 35.2% | 202.0% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 8.8% | -0.03% | 55.0% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 39.4% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 10.8% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.47B | $8.92B | $8.02B | $7.21B | $6.15B | $5.45B | $5.39B | $4.92B | $4.63B | $3.38B | · | · | |
| Net Income TTM | $1.08B | $618M | $763M | $836M | $618M | $205M | $567M | $547M | $577M | $247M | · | · | |
| Market Cap | $44.82B | $44.27B | $38.45B | $34.09B | $35.46B | $26.96B | $23.93B | $19.54B | $18.69B | $9.18B | · | · | |
| Enterprise Value | · | · | · | $40.91B | $40.36B | $31.06B | $27.96B | $23.37B | $22.17B | $12.64B | · | · | |
| P/E | 42.1 | 71.8 | 50.6 | 40.9 | 57.7 | 131.5 | 42.4 | 35.9 | 32.5 | 49.0 | · | · | |
| P/S | 4.7 | 5.0 | 4.8 | 4.7 | 5.8 | 5.0 | 4.4 | 4.0 | 4.0 | 2.7 | · | · | |
| P/B | 5.4 | 5.6 | 5.0 | 4.8 | 5.1 | 3.9 | 3.5 | 3.0 | 3.0 | 1.6 | · | · | |
| P / Cash Flow | 18.6 | 19.9 | 18.1 | 16.9 | 20.9 | 19.1 | 15.5 | 13.8 | 15.7 | 11.5 | · | · | |
| P / FCF | 36.3 | 37.7 | 32.2 | 30.7 | 37.2 | 33.2 | 26.4 | 22.6 | 26.4 | 20.4 | · | · | |
| EV / EBITDA | · | · | · | 18.9 | 21.8 | 26.7 | 17.7 | 15.5 | 17.6 | 13.8 | · | · | |
| EV / FCF | · | · | · | 36.9 | 42.3 | 38.3 | 30.9 | 27.0 | 31.3 | 28.1 | · | · | |
| EV / Revenue | · | · | · | 5.7 | 6.6 | 5.7 | 5.2 | 4.7 | 4.8 | 3.7 | · | · | |
| Dividend Yield | 0.74% | 0.68% | 0.70% | 0.71% | 0.62% | 0.74% | 0.73% | 0.78% | 0.71% | 1.0% | · | · | |
| Earnings Yield | 2.4% | 1.4% | 2.0% | 2.4% | 1.7% | 0.76% | 2.4% | 2.8% | 3.1% | 2.0% | · | · | |
| Payout Ratio | 31.0% | 48.9% | 35.5% | 29.1% | 35.6% | 97.7% | 30.9% | 27.9% | 22.9% | 37.5% | · | · | |
| Annual Payout | $334M | $302M | $271M | $243M | $220M | $200M | $175M | $153M | $132M | $93M | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.56B | $2.37B | $2.37B | $2.46B | $2.41B | $2.23B | $2.26B | $2.34B | $2.25B | $2.07B | $2.04B | $2.06B | $2.02B | $1.90B | $1.87B | $1.88B | |
| Cost of Revenue | $1.48B | $1.36B | $1.36B | $1.41B | $1.39B | $1.29B | $1.32B | $1.34B | $1.30B | $1.22B | $1.20B | $1.20B | $1.20B | $1.15B | $1.14B | $1.12B | |
| SG&A Expense | $260M | $251M | $230M | $236M | $243M | $250M | $211M | $223M | $229M | $221M | $193M | $196M | $216M | $194M | $178M | $187M | |
| Operating Income | $438M | $364M | $421M | $440M | $460M | $390M | $-199M | $475M | $425M | $367M | $225M | $353M | $344M | $315M | $312M | $327M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $78M | · | $69M | $68M | $68M | · | $51M | |
| Other Non-op | $33M | $4M | $4M | $15M | $10M | $2M | $-2M | $5M | $10M | $-2M | $4M | $5M | $-200.0K | $3M | $782.0K | $8M | |
| Pretax Income | $384M | $284M | $341M | $375M | $389M | $313M | $-282M | $400M | $356M | $289M | $161M | $292M | $278M | $252M | $251M | $286M | |
| Income Tax | $87M | $64M | $83M | $89M | $99M | $71M | $-86M | $92M | $81M | $59M | $35M | $63M | $69M | $54M | $57M | $49M | |
| Net Income | $296M | $219M | $258M | $286M | $290M | $242M | $-196M | $308M | $275M | $230M | $127M | $229M | $209M | $198M | $194M | $237M | |
| EPS (Basic) | $1.17 | $0.86 | $1.01 | $1.11 | $1.12 | $0.94 | $-0.76 | $1.19 | $1.07 | $0.89 | $0.49 | $0.89 | $0.81 | $0.77 | $0.76 | $0.92 | |
| EPS (Diluted) | $1.17 | $0.86 | $1.01 | $1.11 | $1.12 | $0.93 | $-0.76 | $1.19 | $1.07 | $0.89 | $0.48 | $0.89 | $0.81 | $0.77 | $0.76 | $0.92 | |
| Shares (Basic) | 253,457,489 | 255,347,786 | · | 256,948,902 | 258,377,345 | 258,193,975 | · | 258,023,661 | 257,994,105 | 257,801,116 | · | 257,633,703 | 257,596,993 | 257,372,942 | · | 257,197,010 | |
| Shares (Diluted) | 253,856,582 | 255,873,686 | · | 257,580,321 | 258,982,647 | 258,904,806 | · | 258,756,528 | 258,565,246 | 258,482,473 | · | 258,229,404 | 258,110,491 | 257,988,971 | · | 257,891,635 | |
| EBITDA | $763M | $679M | · | $755M | $767M | $680M | · | $475M | $425M | $367M | · | $353M | $344M | $315M | · | $327M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $98M | $112M | $46M | $118M | $110M | $111M | $62M | $115M | $79M | $112M | · | $96M | $92M | $134M | · | $200M | |
| Receivables | $1.07B | $1.03B | $1.02B | $1.07B | $1.03B | $952M | $935M | $991M | $961M | $897M | $857M | $868M | $855M | $815M | · | $811M | |
| Prepaid Expense | $231M | $231M | $241M | $216M | $208M | $218M | $230M | $249M | $196M | $208M | · | $187M | $164M | $186M | · | $219M | |
| Current Assets | $1.40B | $1.38B | $1.31B | $1.40B | $1.35B | $1.28B | $1.23B | $1.36B | $1.24B | $1.22B | · | $1.15B | $1.11B | $1.13B | · | $1.23B | |
| PP&E (Net) | $8.97B | $8.71B | $8.73B | $8.42B | $8.38B | $8.22B | $8.04B | $8.23B | $7.90B | $7.83B | · | $7.10B | $7.03B | $6.96B | · | $6.35B | |
| PP&E (Gross) | · | · | $16.22B | · | · | · | $14.63B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $7.48B | · | · | · | $6.60B | · | · | · | · | · | · | · | · | · | |
| Goodwill | $8.39B | $8.41B | $8.39B | $8.28B | $8.22B | $8.06B | $7.95B | $7.92B | $7.70B | $7.60B | $7.40B | $7.31B | $6.99B | $6.94B | $6.90B | $6.57B | |
| Intangibles | $1.97B | $1.96B | $2.01B | $2.00B | $2.06B | $2.07B | $1.99B | $1.98B | $1.89B | $1.88B | · | $1.62B | $1.66B | $1.70B | · | $1.49B | |
| Other Non-current Assets | $122M | $107M | $109M | $108M | $105M | $103M | $91M | $86M | $85M | $110M | · | $109M | $131M | $122M | · | $128M | |
| Total Assets | $21.40B | $21.19B | $21.13B | $20.78B | $20.68B | $20.25B | $19.82B | $20.10B | $19.30B | $19.08B | $17.92B | $17.73B | $17.36B | $17.23B | $17.13B | $16.13B | |
| Accounts Payable | $772M | $712M | $765M | $759M | $730M | $626M | $637M | $706M | $663M | $590M | · | $605M | $539M | $526M | · | $508M | |
| Accrued Liabilities | $781M | $745M | $810M | $762M | $706M | $690M | $737M | $553M | $570M | $507M | · | $446M | $453M | $390M | · | $458M | |
| Current Liabilities | $2.13B | $2.01B | $2.12B | $2.09B | $2.00B | $1.83B | $1.88B | $1.75B | $1.77B | $1.63B | · | $1.58B | $1.46B | $1.38B | · | $1.38B | |
| Capital Leases | $271M | $278M | $267M | $270M | $279M | $267M | $272M | $276M | $270M | $249M | · | $240M | $225M | $169M | · | $164M | |
| Deferred Tax | $1.12B | $1.11B | $1.09B | $1.07B | $1.04B | $1.01B | $958M | $1.10B | $1.07B | $1.05B | · | $1.05B | $1.05B | $1.04B | · | $986M | |
| Other Non-current Liabilities | $654M | $617M | $576M | $622M | $652M | $716M | $747M | $517M | $492M | $542M | · | $452M | $460M | $452M | · | $416M | |
| Total Liabilities | $13.48B | $13.13B | $12.88B | $12.69B | $12.32B | $12.24B | $11.96B | $11.83B | $11.32B | $11.29B | · | $10.14B | $9.90B | $9.99B | · | $9.19B | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | $6.93B | · | $6.22B | |
| Total Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | $6.93B | · | $6.22B | |
| Retained Earnings | $5.54B | $5.33B | $5.20B | $5.03B | $4.83B | $4.62B | $4.46B | $4.73B | $4.50B | $4.30B | · | $4.09B | $3.93B | $3.78B | · | $3.52B | |
| Treasury Stock | $0 | $0 | $0 | $0 | $0 | · | $0 | · | · | · | · | · | · | · | · | · | |
| AOCI | $-179M | $-142M | $-111M | $-139M | $-94M | $-207M | $-206M | $-65M | $-87M | $-63M | · | $-49M | $-1M | $-61M | · | $-83M | |
| Stockholders' Equity | $7.92B | $8.06B | $8.25B | $8.09B | $8.35B | $8.01B | $7.86B | $8.26B | $7.98B | $7.79B | · | $7.59B | $7.45B | $7.23B | · | $6.94B | |
| Liabilities + Equity | $21.40B | $21.19B | $21.13B | $20.78B | $20.68B | $20.25B | $19.82B | $20.10B | $19.30B | $19.08B | · | $17.73B | $17.36B | $17.23B | · | $16.13B | |
| Shares Outstanding | 252,154,695 | 254,213,909 | 255,614,663 | 255,976,094 | 258,346,757 | 258,318,013 | 258,019,389 | 258,009,392 | 257,965,548 | 257,961,725 | 257,600,479 | 257,581,304 | 257,555,015 | 257,487,434 | 257,145,716 | 257,118,204 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $326M | $315M | $319M | $315M | $308M | $290M | $322M | $294M | $285M | $263M | · | · | · | · | · | · | |
| Stock-based Comp | $24M | $18M | $19M | $18M | $19M | $23M | $17M | $20M | $19M | $22M | $14M | $15M | $23M | $18M | $15M | $21M | |
| Deferred Tax | $9M | $29M | $23M | $36M | $22M | $36M | $-139M | $34M | $17M | $30M | $-23M | $-2M | $3M | $28M | $2M | $6M | |
| Amort. of Intangibles | $48M | $47M | $52M | $51M | $50M | $48M | $60M | $45M | $44M | $40M | $40M | $39M | $39M | $39M | $42M | $39M | |
| Other Non-cash | · | $-174M | · | · | · | $-122M | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $733M | $546M | $557M | $677M | $638M | $542M | $569M | $558M | $611M | $490M | $556M | $554M | $574M | $442M | $522M | $526M | |
| CapEx | $302M | $297M | $384M | $297M | $285M | $212M | $397M | $272M | $217M | $170M | $318M | $221M | $218M | $176M | $294M | $247M | |
| Investing Cash Flow | $-606M | $-356M | $-589M | $-414M | $-417M | $-603M | $-513M | $-852M | $-460M | $-1.33B | $-395M | $-581M | $-287M | $-318M | $-1.23B | $-967M | |
| Debt Issued | $547M | $1.16B | $452M | $609M | $831M | $783M | $472M | $952M | $788M | $2.35B | $576M | $704M | $202M | $337M | $1.67B | $1.63B | |
| Net Debt Issued | · | $312M | · | · | · | $241M | · | · | · | $1.00B | · | · | · | $17M | · | · | |
| Stock Issued | $0 | $0 | $-1.0K | $0 | $0 | $324.0K | $816.0K | $912.0K | $0 | $286.0K | $29.0K | $0 | $0 | $765.0K | $0 | $0 | |
| Stock Repurchased | $331M | $284M | $63M | $442M | $389.0K | $0 | $0 | $0 | · | · | · | · | · | · | $0 | $0 | |
| Net Stock Activity | · | $-284M | · | · | · | $324.0K | · | · | · | $286.0K | · | · | · | $765.0K | · | · | |
| Dividends Paid | $88M | $89M | $90M | $81M | $81M | $81M | $81M | $74M | $74M | $74M | $74M | $66M | $65M | $66M | $65M | $59M | |
| Financing Cash Flow | $-186M | $-96M | $-29M | $-239M | $-206M | $113M | $-95M | $338M | $-177M | $878M | $-178M | $23M | $-324M | $-65M | $578M | $425M | |
| Net Change in Cash | $-61M | $93M | $-61M | $23M | $18M | $51M | $-40M | $46M | $-25M | $34M | $-15M | $-5M | $-36M | $59M | $-127M | $-16M | |
| Free Cash Flow | · | $249M | · | · | · | $329M | · | · | · | $320M | · | · | · | $267M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $258M | · | · | · | $213M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 17.1% | 15.4% | · | 17.9% | 19.1% | 17.5% | · | 20.3% | 18.9% | 17.7% | · | 17.1% | 17.0% | 16.6% | · | 17.4% | |
| Net Margin | 11.6% | 9.2% | · | 11.6% | 12.1% | 10.8% | · | 13.2% | 12.2% | 11.1% | · | 11.1% | 10.3% | 10.4% | · | 12.6% | |
| Pretax Margin | 15.0% | 12.0% | · | 15.2% | 16.2% | 14.1% | · | 17.1% | 15.8% | 13.9% | · | 14.1% | 13.7% | 13.3% | · | 15.2% | |
| EBITDA Margin | 29.8% | 28.6% | · | 30.7% | 31.9% | 30.5% | · | 20.3% | 18.9% | 17.7% | · | 17.1% | 17.0% | 16.6% | · | 17.4% | |
| ROA | 1.4% | 1.1% | · | 1.4% | 1.5% | 1.2% | · | 1.6% | 1.5% | 1.3% | · | 1.4% | 1.3% | 1.2% | · | 1.6% | |
| ROE | 3.6% | 2.7% | · | 3.5% | 3.5% | 3.1% | · | 3.9% | 3.6% | 3.1% | · | 3.1% | 2.9% | 2.8% | · | 3.4% | |
| ROIC | 4.3% | 3.5% | · | 4.2% | 4.1% | 3.8% | · | 4.4% | 4.1% | 3.7% | · | 3.6% | 3.5% | 1.7% | · | 2.1% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.7 | · | 0.7 | 0.7 | 0.7 | · | 0.8 | 0.7 | 0.7 | · | 0.7 | 0.8 | 0.8 | · | 0.9 | |
| Quick Ratio | 0.5 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.7 | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.0 | · | 0.9 | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.0 | · | 0.9 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 4.7 | · | 5.1 | 5.1 | 4.6 | · | 6.4 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 2.4 | 2.4 | · | 2.4 | 2.4 | 2.4 | · | 2.5 | 2.5 | 2.4 | · | 2.5 | 2.4 | 2.5 | · | 2.5 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $31.41 | $31.70 | · | $31.62 | $32.34 | $31.02 | · | $32.02 | $30.95 | $30.19 | · | $29.45 | $28.94 | $28.09 | · | $26.99 | |
| Revenue / Share | $10.09 | $9.26 | · | $9.54 | $9.29 | $8.61 | · | $9.04 | $8.69 | $8.02 | · | $8.00 | $7.83 | $7.37 | · | $7.29 | |
| Cash Flow / Share | · | $2.13 | · | · | · | $2.09 | · | · | · | $1.90 | · | · | · | $1.71 | · | · | |
| Cash / Share | $0.39 | $0.44 | · | $0.46 | $0.43 | $0.43 | · | $0.45 | $0.30 | $0.43 | · | $0.37 | $0.36 | $0.52 | · | $0.78 | |
| Dividend / Share | · | · | · | · | · | · | · | · | · | · | · | $0.26 | · | · | · | $0.23 | |
| Dividend Paid / Share | $0.35 | $0.35 | $0.35 | $0.32 | $0.32 | $0.32 | $0.32 | $0.28 | $0.28 | $0.28 | $0.28 | $0.26 | $0.26 | $0.26 | $0.26 | $0.23 | |
| EPS (TTM) | $4.15 | $4.10 | · | $2.40 | $2.48 | $2.43 | · | $3.63 | $3.33 | $3.07 | · | $3.23 | $3.26 | $3.32 | · | $3.11 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.76B | $9.61B | · | $9.35B | $9.23B | $9.08B | · | $8.69B | $8.42B | $8.19B | · | $7.86B | $7.67B | $7.47B | · | $6.97B | |
| Net Income TTM | $1.06B | $1.05B | · | $622M | $644M | $629M | · | $940M | $861M | $795M | · | $830M | $838M | $853M | · | $808M | |
| Market Cap | $42.03B | $41.29B | · | $45.00B | $48.24B | $50.42B | · | $46.14B | $45.24B | $44.37B | · | $34.59B | $36.81B | $35.81B | · | $34.74B | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | · | · | · | $42.61B | · | $40.76B | |
| P/E | 40.2 | 39.6 | · | 73.2 | 75.3 | 80.3 | · | 49.3 | 52.7 | 56.0 | · | 41.6 | 43.8 | 41.9 | · | 43.5 | |
| P/S | 4.3 | 4.3 | · | 4.8 | 5.2 | 5.6 | · | 5.3 | 5.4 | 5.4 | · | 4.4 | 4.8 | 4.8 | · | 5.0 | |
| P/B | 5.3 | 5.1 | · | 5.6 | 5.8 | 6.3 | · | 5.6 | 5.7 | 5.7 | · | 4.6 | 4.9 | 5.0 | · | 5.0 | |
| P / Cash Flow | · | 75.7 | · | · | · | 93.1 | · | · | · | 90.5 | · | · | · | 80.9 | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | · | · | · | 5.7 | · | 5.9 | |
| Dividend Yield | 0.83% | 0.83% | · | 0.72% | 0.66% | 0.62% | · | 0.64% | 0.63% | 0.63% | · | 0.76% | 0.69% | 0.70% | · | 0.68% | |
| Earnings Yield | 2.5% | 2.5% | · | 1.4% | 1.3% | 1.2% | · | 2.0% | 1.9% | 1.8% | · | 2.4% | 2.3% | 2.4% | · | 2.3% | |
| Payout Ratio | · | 40.5% | · | · | · | 33.7% | · | · | · | 32.0% | · | · | · | 33.3% | · | · | |
| Annual Payout | $348M | $341M | · | $325M | $318M | $310M | · | $295M | $287M | $278M | · | $262M | $255M | $249M | · | $237M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenue | $9.47B | · | · | $8.92B | · |
| Operating Margin % | 18.1% | · | · | 12.0% | · |
| Net Income | $1.08B | · | · | $618M | · |
| Diluted EPS | $4.17 | · | · | $2.39 | · |
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Current Ratio | 0.6 | · | · | 0.7 | · |
| Quick Ratio | 0.5 | · | · | 0.5 | · |
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Free Cash Flow | $1.23B | · | · | $1.17B | · |
Institutional owners (13F) 906 filers · $39.9B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
906
Value held
$39.9B
New positions
137
Exited positions
73
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 137 (+23 vs prior Q) | 73 (-28 vs prior Q) | 281 (+19 vs prior Q) | 309 (+14 vs prior Q) | +1.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $5,464,957,048 | 31,162,831 | 13.69% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,633,151,151 | 15,797,275 | 6.60% | Shares |
| ROYAL BANK OF CANADA | $2,198,419,000 | 13,188,665 | 5.51% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,872,425,103 | 11,232,978 | 4.69% | Shares |
| BANK OF MONTREAL /CAN/ | $1,442,920,005 | 8,665,651 | 3.61% | Shares |
| 1832 Asset Management L.P. | $1,242,954,656 | 7,456,684 | 3.11% | Shares |
| BlackRock, Inc. | $1,061,946,650 | 6,370,788 | 2.66% | Shares |
| FMR LLC | $890,243,177 | 5,341,098 | 2.23% | Shares |
| Capital International Investors | $763,907,187 | 4,582,617 | 1.91% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $683,994,015 | 4,111,035 | 1.71% | Shares |
| NORGES BANK | $659,456,929 | 3,957,385 | 1.65% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $634,134,340 | 3,794,258 | 1.59% | Shares |
| TD Asset Management Inc | $633,923,099 | 3,804,528 | 1.59% | Shares |
| Invesco Ltd. | $598,047,884 | 3,587,785 | 1.50% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $589,670,948 | 3,544,278 | 1.48% | Shares |
| TWO SIGMA INVESTMENTS, LP | $541,057,904 | 3,245,893 | 1.36% | Shares |
| BANK OF AMERICA CORP /DE/ | $510,526,463 | 3,062,730 | 1.28% | Shares |
| CITADEL ADVISORS LLC | $481,863,952 | 2,890,779 | 1.21% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $477,944,216 | 2,867,268 | 1.20% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $414,480,670 | 2,488,903 | 1.04% | Shares |
| Fiera Capital Corp | $413,423,624 | 2,484,844 | 1.04% | Shares |
| JPMORGAN CHASE & CO | $408,920,283 | 2,446,717 | 1.02% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $405,331,748 | 2,431,824 | 1.02% | Shares |
| GOLDMAN SACHS GROUP INC | $403,741,439 | 2,422,109 | 1.01% | Shares |
| MORGAN STANLEY | $368,706,785 | 2,211,929 | 0.92% | Shares |
| STATE STREET CORP | $362,974,309 | 2,177,541 | 0.91% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $351,274,809 | 2,114,692 | 0.88% | Shares |
| GATES FOUNDATION TRUST | $339,910,081 | 2,039,175 | 0.85% | Shares |
| Impax Asset Management Group plc | $329,883,893 | 1,979,027 | 0.83% | Shares |
| Pictet Asset Management Holding SA | $319,818,443 | 1,918,656 | 0.80% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $284,439,709 | 1,708,241 | 0.71% | Shares |
| CIBC WORLD MARKET INC. | $278,742,528 | 1,673,823 | 0.70% | Shares |
| TWO SIGMA ADVISERS, LP | $266,924,224 | 1,522,150 | 0.67% | Shares |
| BROWN ADVISORY INC | $253,998,548 | 1,523,777 | 0.64% | Shares |
| Atlas FRM LLC | $251,701,900 | 1,510,000 | 0.63% | Shares |
| DEUTSCHE BANK AG\ | $235,075,072 | 1,410,253 | 0.59% | Shares |
| MILLENNIUM MANAGEMENT LLC | $220,610,781 | 1,323,486 | 0.55% | Shares |
| Findlay Park Partners LLP | $214,331,502 | 1,285,809 | 0.54% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $205,768,109 | 1,266,733 | 0.52% | Shares |
| UBS Group AG | $201,719,903 | 1,210,150 | 0.51% | Shares |
| Stockbridge Partners LLC | $193,563,262 | 1,161,217 | 0.48% | Shares |
| Skye Global Management LP | $191,360,120 | 1,148,000 | 0.48% | Shares |
| Legal & General Group Plc | $191,056,536 | 1,146,384 | 0.48% | Shares |
| NEUBERGER BERMAN GROUP LLC | $187,847,587 | 1,126,933 | 0.47% | Shares |
| FIL Ltd | $185,818,727 | 1,114,828 | 0.47% | Shares |
| Vanguard Global Advisers, LLC | $178,722,747 | 1,072,270 | 0.45% | Shares |
| Consulta Ltd | $175,024,500 | 1,050,000 | 0.44% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $166,263,940 | 997,444 | 0.42% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $162,697,729 | 976,473 | 0.41% | Shares |
| MONTRUSCO BOLTON INVESTMENTS INC. | $162,494,412 | 974,830 | 0.41% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Blue Harbour Group, LP, Blue Harbour Holdings, LLC, Clifton S. Robbins ×2 filings | Feb. 26, 2016 | · | Initial filing | · | SEC |
| Westbury (Bermuda) Ltd., Westbury Trust ×3 filings | Nov. 29, 2011 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 30 insiders · 19 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ronald J Mittelstaedt | President & CEO | May 12, 2026 P | 301,017 | 1 | 0 | $7,612,000 |
| Worthing Jackman | President and CEO | Feb. 19, 2023 M | 149,156 | 0 | 0 | $0 |
| Mary Anne Whitney | Executive Vice President & CFO | Feb. 18, 2026 M | 62,435 | 0 | 0 | $0 |
| Steven F Bouck | President | May 23, 2018 S | 293,439 | 0 | 0 | $0 |
| Jason Craft | Executive Vice President & COO | June 30, 2026 J | 32,915 | 0 | 1 | $-234,885 |
| Darrell W Chambliss | EVP & COO | June 6, 2025 G | 92,000 | 0 | 0 | $0 |
| Iii Robert Nielsen | SR VP Operations | Aug. 19, 2026 S | 3,250 | 0 | 6 | $-679,241 |
| Philip Rivard | SR VP Business Development | Aug. 18, 2026 S | 734 | 0 | 1 | $-416,425 |
| Susan Netherton | SR VP People, Training & Dev | Aug. 13, 2026 S | 12,980 | 0 | 1 | $-290,500 |
| Robert Michael Cloninger | SR VP, Deputy General Counsel | July 28, 2026 S | 11,666 | 0 | 2 | $-480,760 |
| Aaron Bradley | SR VP PERFORMANCE OPTIMIZATION | June 30, 2026 J | 8,624 | 0 | 0 | $0 |
| Matthew Stephen Black | Sr VP Chief Tax Officer | June 30, 2026 J | 43,530 | 0 | 0 | $0 |
| Domenic Pio | SR VP Operations | June 30, 2026 J | 9,188 | 0 | 0 | $0 |
| Patrick James Shea | Exec VP, General Counsel & Sec | June 9, 2026 G | 19,622 | 0 | 1 | $-1,171,950 |
| Eric Hansen | Senior Vice President and CIO | April 30, 2026 S | 13,350 | 0 | 1 | $-988,920 |
| James Little | Executive VP Engineering | April 27, 2026 S | 34,395 | 0 | 1 | $-427,168 |
| Derek Tan | SR VP Chief Accounting Officer | March 4, 2026 S | 1,404 | 0 | 1 | $-200,618 |
| David Eddie | Sr VP Performance Optimization | Feb. 19, 2024 M | 30,647 | 0 | 0 | $0 |
| David M Hall | Sr. Vice President - Sales | Feb. 20, 2022 M | 5,099 | 0 | 0 | $0 |
| Daniel L Florness | Director | April 1, 2026 M | 154 | 0 | 0 | $0 |
| Cherylyn Harley Lebon | Director | Feb. 14, 2026 M | 698 | 0 | 0 | $0 |
| Elise Lipman Jordan | Director | Feb. 14, 2026 M | 3,224 | 0 | 0 | $0 |
| Andrea E. Bertone | Director | Feb. 14, 2026 M | 288 | 0 | 0 | $0 |
| Susan Lee | Director | Feb. 14, 2026 M | 12,204 | 0 | 0 | $0 |
| Carl Sparks | Director | Feb. 14, 2026 M | 728 | 0 | 0 | $0 |
| Edward E Guillet | Director | Feb. 14, 2026 M | 15,171 | 0 | 1 | $-1,569,960 |
| Michael W Harlan | Director | Feb. 14, 2026 M | 8,575 | 0 | 0 | $0 |
| Larry Sanford Hughes | Director | Feb. 17, 2024 M | 11,384 | 0 | 0 | $0 |
| William J Razzouk | Director | Feb. 17, 2024 M | 3,273 | 0 | 0 | $0 |
| Robert Davis | Director | Feb. 20, 2019 M | 14,189 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 50 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| NFRA · FlexShares Trust | 2.02% | 361,953 NS | July 31, 2026 | N-PORT |
| CZA · Invesco Exchange-Traded Fund Trust | 1.91% | 20,908 SH | Oct. 1, 2026 | Daily |
| HGRO · ETF Opportunities Trust | 1.46% | 11,027 NS | July 31, 2026 | N-PORT |
| BBCA · J.P. Morgan Exchange-Traded Fund Tr… | 1.39% | 901,712 NS | July 31, 2026 | N-PORT |
| USMV · iShares Trust | 1.19% | 1,772,537 SH | Sept. 11, 2026 | Daily |
| VOT · VANGUARD INDEX FUNDS | 0.93% | 1,955,403 SH | Aug. 19, 2026 | Daily |
| VIGI · VANGUARD WHITEHALL FUNDS | 0.76% | 416,810 SH | Aug. 19, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.61% | 83,859 NS | July 31, 2026 | N-PORT |
| QLV · FlexShares Trust | 0.58% | 5,628 NS | July 31, 2026 | N-PORT |
| PIEL · Pacer Funds Trust | 0.57% | 39 NS | July 31, 2026 | N-PORT |
| VIS · VANGUARD WORLD FUND | 0.52% | 280,462 SH | Aug. 19, 2026 | Daily |
| SOVF · Elevation Series Trust | 0.48% | 2,491 NS | July 31, 2026 | N-PORT |
| PID · Invesco Exchange-Traded Fund Trust | 0.47% | 25,951 SH | Oct. 1, 2026 | Daily |
| IDLV · Invesco Exchange-Traded Fund Trust … | 0.43% | 8,851 SH | Oct. 1, 2026 | Daily |
| EXI · iShares Trust | 0.41% | 36,686 SH | Sept. 11, 2026 | Daily |
| VO · VANGUARD INDEX FUNDS | 0.41% | 5,531,130 SH | Aug. 19, 2026 | Daily |
| ACWV · iShares, Inc. | 0.33% | 68,769 SH | Sept. 11, 2026 | Daily |
| FTLS · First Trust Exchange-Traded Fund III | 0.29% | 42,930 NS | July 31, 2026 | N-PORT |
| DIHP · Dimensional ETF Trust | 0.24% | 90,322 NS | July 31, 2026 | N-PORT |
| ESLV · Strategy Shares | 0.23% | 193 NS | July 31, 2026 | N-PORT |
| SPWO · SP Funds Trust | 0.21% | 2,554 NS | July 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.19% | 23,124 SH | Sept. 11, 2026 | Daily |
| SIZE · iShares Trust | 0.19% | 5,107 SH | Sept. 11, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.18% | 12,455 SH | Oct. 1, 2026 | Daily |
| PTIN · Pacer Funds Trust | 0.18% | 1,966 NS | July 31, 2026 | N-PORT |
| BKIE · BNY Mellon ETF Trust | 0.17% | 13,033 NS | July 31, 2026 | N-PORT |
| IGRO · iShares Trust | 0.15% | 11,861 SH | Sept. 11, 2026 | Daily |
| VUG · VANGUARD INDEX FUNDS | 0.14% | 3,080,395 SH | Aug. 19, 2026 | Daily |
| DFAI · Dimensional ETF Trust | 0.14% | 144,559 NS | July 31, 2026 | N-PORT |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.13% | 2,459,852 SH | Aug. 19, 2026 | Daily |
| VSGX · VANGUARD WORLD FUND | 0.12% | 50,627 SH | Aug. 19, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.10% | 589,004 SH | Aug. 19, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.09% | 3,701,815 SH | Aug. 19, 2026 | Daily |
| DFIC · Dimensional ETF Trust | 0.08% | 74,589 NS | July 31, 2026 | N-PORT |
| VV · VANGUARD INDEX FUNDS | 0.07% | 298,091 SH | Aug. 19, 2026 | Daily |
| TLTD · FlexShares Trust | 0.07% | 2,772 NS | July 31, 2026 | N-PORT |
| ESGG · FlexShares Trust | 0.07% | 456 NS | July 31, 2026 | N-PORT |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.07% | 4,173 SH | Oct. 1, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.06% | 12,354 SH | Oct. 1, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.06% | 8,104,425 SH | Aug. 19, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 0.06% | 43,927 SH | Oct. 1, 2026 | Daily |
| ESMV · iShares Trust | 0.05% | 24 SH | Sept. 11, 2026 | Daily |
| TOK · iShares Trust | 0.05% | 697 SH | Sept. 11, 2026 | Daily |
| URTH · iShares, Inc. | 0.04% | 22,871 SH | Sept. 11, 2026 | Daily |
| VOXP · Advisors Series Trust | 0.04% | 15 NS | July 31, 2026 | N-PORT |
| DXIV · Dimensional ETF Trust | 0.04% | 503 NS | July 31, 2026 | N-PORT |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.04% | 213,572 SH | Aug. 19, 2026 | Daily |
| ACWI · iShares Trust | 0.04% | 78,159 SH | Sept. 11, 2026 | Daily |
| USCL · iShares Trust | 0.04% | 6,691 SH | Sept. 11, 2026 | Daily |
| DFAX · Dimensional ETF Trust | 0.03% | 23,539 NS | July 31, 2026 | N-PORT |
WCN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 20 analysts
BUY
Median target
$204.00
+32.6%
6 30.0%
Strong Buy
11 55.0%
Buy
3 15.0%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
25 analysts · 2026-09-30Mean target $202.04 +31.3%
← Below all targets
Current price $153.82
Low$162.00
Mean$202.04
High$220.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| WCN | $44.82B | 42.1 | 6.1% | 11.4% | 13.2% | · |
| WM | $88.52B | 32.8 | 14.2% | 10.7% | 29.7% | · |
| RSG | · | 30.9 | 3.3% | 11.2% | 18.3% | · |
| VLTO | $24.79B | 26.5 | 6.0% | 17.1% | 36.5% | 60.0% |
| CLH | $12.40B | 32.2 | 2.4% | 6.5% | 14.3% | · |
| ROL | $28.88B | 55.1 | 11.0% | 14.0% | 37.4% | · |
| TTEK | $8.71B | 35.8 | 4.7% | 4.6% | 13.7% | 17.7% |
| CWST | · | 816.2 | 17.9% | 0.43% | 0.50% | · |
| ABM | · | 17.3 | 4.6% | · | · | · |
| BV | $1.27B | 103.1 | -3.4% | 2.1% | 4.4% | 23.3% |
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
No open signal right now — no card is filled, and that's honest.
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 10-Q filed Jul 23, 2026