Waste Connections Inc
Waste Connections, Inc. provides non-hazardous waste collection, transfer, and disposal services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic cont… Read more
Waste Connections Inc (WCN) - Net Assets
Latest net assets as of December 2025: $8.23 Billion USD
Based on the latest financial reports, Waste Connections Inc (WCN) has net assets worth $8.23 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($21.23 Billion) and total liabilities ($13.00 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $8.23 Billion |
| % of Total Assets | 38.77% |
| Annual Growth Rate | 28.79% |
| 5-Year Change | 17.69% |
| 10-Year Change | 47.88% |
| Growth Volatility | 217.66 |
Waste Connections Inc - Net Assets Trend (1997–2025)
This chart illustrates how Waste Connections Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Waste Connections Inc (1997–2025)
The table below shows the annual net assets of Waste Connections Inc from 1997 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $8.23 Billion | +4.71% |
| 2024-12-31 | $7.86 Billion | +2.11% |
| 2023-12-31 | $7.70 Billion | +8.21% |
| 2022-12-31 | $7.11 Billion | +1.72% |
| 2021-12-31 | $6.99 Billion | +1.90% |
| 2020-12-31 | $6.86 Billion | -1.08% |
| 2019-12-31 | $6.94 Billion | +7.40% |
| 2018-12-31 | $6.46 Billion | +2.97% |
| 2017-12-31 | $6.27 Billion | +12.73% |
| 2016-12-31 | $5.57 Billion | +179.43% |
| 2015-12-31 | $1.99 Billion | -10.64% |
| 2014-12-31 | $2.23 Billion | +8.83% |
| 2013-12-31 | $2.05 Billion | +8.77% |
| 2012-12-31 | $1.88 Billion | +34.54% |
| 2011-12-31 | $1.40 Billion | +2.14% |
| 2010-12-31 | $1.37 Billion | +0.99% |
| 2009-12-31 | $1.36 Billion | +8.12% |
| 2008-12-31 | $1.26 Billion | +55.84% |
| 2007-12-31 | $805.37 Million | +5.35% |
| 2006-12-31 | $764.47 Million | +2.68% |
| 2005-12-31 | $744.56 Million | +1.72% |
| 2004-12-31 | $731.94 Million | +30.37% |
| 2003-12-31 | $561.42 Million | +18.25% |
| 2002-12-31 | $474.79 Million | +18.76% |
| 2001-12-31 | $399.79 Million | +19.62% |
| 2000-12-31 | $334.21 Million | +52.50% |
| 1999-12-31 | $219.16 Million | +149.33% |
| 1998-12-31 | $87.90 Million | +1173.91% |
| 1997-12-31 | $6.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Waste Connections Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 519589222500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $5.19 Billion | 63.06% |
| Common Stock | $2.78 Billion | 33.76% |
| Other Comprehensive Income | $-110.84 Million | -1.35% |
| Other Components | $372.56 Million | 4.53% |
| Total Equity | $8.23 Billion | 100.00% |
Waste Connections Inc Competitors by Market Cap
The table below lists competitors of Waste Connections Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Orsted A/S
PINK:DOGEF
|
$42.08 Billion |
|
APOLLO GL.M.NEW DL-00001
F:N7I
|
$42.09 Billion |
|
Alnylam Pharmaceuticals Inc
NASDAQ:ALNY
|
$42.14 Billion |
|
Nordea Bank Abp
PINK:NBNKF
|
$42.31 Billion |
|
Entergy Corporation
NYSE:ETR
|
$41.77 Billion |
|
Lonza Group Ltd
PINK:LZAGF
|
$41.73 Billion |
|
Public Service Enterprise Group Inc
NYSE:PEG
|
$41.56 Billion |
|
Baidu Inc
NASDAQ:BIDU
|
$41.50 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Waste Connections Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,860,354,000 to 8,230,375,643, a change of 370,021,643 (4.7%).
- Net income of 1,080,529,458 contributed positively to equity growth.
- Dividend payments of 339,650,469 reduced retained earnings.
- Share repurchases of 514,366,344 reduced equity.
- New share issuances of 323,000 increased equity.
- Other comprehensive income increased equity by 94,898,084.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.08 Billion | +13.13% |
| Dividends Paid | $339.65 Million | -4.13% |
| Share Repurchases | $514.37 Million | -6.25% |
| Share Issuances | $323.00K | +0.0% |
| Other Comprehensive Income | $94.90 Million | +1.15% |
| Other Changes | $48.29 Million | +0.59% |
| Total Change | $- | 4.71% |
Book Value vs Market Value Analysis
This analysis compares Waste Connections Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.21x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 1044.75x to 5.21x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | $0.16 | $167.24 | x |
| 1998-12-31 | $0.98 | $167.24 | x |
| 1999-12-31 | $2.17 | $167.24 | x |
| 2000-12-31 | $2.75 | $167.24 | x |
| 2001-12-31 | $2.71 | $167.24 | x |
| 2002-12-31 | $2.76 | $167.24 | x |
| 2003-12-31 | $3.23 | $167.24 | x |
| 2004-12-31 | $4.24 | $167.24 | x |
| 2005-12-31 | $4.41 | $167.24 | x |
| 2006-12-31 | $4.65 | $167.24 | x |
| 2007-12-31 | $4.92 | $167.24 | x |
| 2008-12-31 | $7.81 | $167.24 | x |
| 2009-12-31 | $7.49 | $167.24 | x |
| 2010-12-31 | $7.79 | $167.24 | x |
| 2011-12-31 | $8.19 | $167.24 | x |
| 2012-12-31 | $10.28 | $167.24 | x |
| 2013-12-31 | $10.97 | $167.24 | x |
| 2014-12-31 | $11.90 | $167.24 | x |
| 2015-12-31 | $10.72 | $167.24 | x |
| 2016-12-31 | $24.44 | $167.24 | x |
| 2017-12-31 | $23.72 | $167.24 | x |
| 2018-12-31 | $24.41 | $167.24 | x |
| 2019-12-31 | $26.21 | $167.24 | x |
| 2020-12-31 | $26.01 | $167.24 | x |
| 2021-12-31 | $26.70 | $167.24 | x |
| 2022-12-31 | $27.55 | $167.24 | x |
| 2023-12-31 | $29.80 | $167.24 | x |
| 2024-12-31 | $30.39 | $167.24 | x |
| 2025-12-31 | $32.09 | $167.24 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Waste Connections Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.13%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.37%
- • Asset Turnover: 0.45x
- • Equity Multiplier: 2.58x
- Recent ROE (13.13%) is above the historical average (5.48%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | -73.91% | -82.26% | 0.33x | 2.74x | $-5.79 Million |
| 1998 | 2.95% | 3.33% | 0.31x | 2.88x | $-4.31 Million |
| 1999 | 4.21% | 5.04% | 0.30x | 2.83x | $-12.65 Million |
| 2000 | 8.43% | 9.26% | 0.38x | 2.42x | $-5.23 Million |
| 2001 | 8.03% | 8.09% | 0.39x | 2.58x | $-7.47 Million |
| 2002 | 12.28% | 11.12% | 0.40x | 2.79x | $10.29 Million |
| 2003 | 12.20% | 11.64% | 0.40x | 2.60x | $11.85 Million |
| 2004 | 2.35% | 10.32% | 0.11x | 2.11x | $-54.09 Million |
| 2005 | 12.12% | 11.63% | 0.45x | 2.33x | $15.25 Million |
| 2006 | 10.25% | 9.39% | 0.45x | 2.41x | $1.81 Million |
| 2007 | 13.90% | 10.34% | 0.53x | 2.56x | $30.24 Million |
| 2008 | 7.09% | 9.80% | 0.35x | 2.07x | $-36.52 Million |
| 2009 | 8.83% | 9.22% | 0.46x | 2.08x | $-15.90 Million |
| 2010 | 10.25% | 10.24% | 0.47x | 2.13x | $3.43 Million |
| 2011 | 11.51% | 10.98% | 0.44x | 2.39x | $21.06 Million |
| 2012 | 8.47% | 9.57% | 0.33x | 2.70x | $-28.72 Million |
| 2013 | 9.58% | 10.14% | 0.38x | 2.48x | $-8.65 Million |
| 2014 | 10.44% | 11.18% | 0.40x | 2.35x | $9.71 Million |
| 2015 | -4.82% | -4.52% | 0.41x | 2.58x | $-294.28 Million |
| 2016 | 4.37% | 7.30% | 0.30x | 1.97x | $-318.21 Million |
| 2017 | 9.20% | 12.46% | 0.39x | 1.92x | $-50.05 Million |
| 2018 | 8.47% | 11.11% | 0.39x | 1.96x | $-98.59 Million |
| 2019 | 8.18% | 10.52% | 0.39x | 1.98x | $-126.51 Million |
| 2020 | 2.98% | 3.76% | 0.39x | 2.04x | $-481.25 Million |
| 2021 | 8.84% | 10.05% | 0.42x | 2.10x | $-80.85 Million |
| 2022 | 11.76% | 11.59% | 0.42x | 2.41x | $124.79 Million |
| 2023 | 9.92% | 9.51% | 0.45x | 2.33x | $-6.48 Million |
| 2024 | 7.86% | 6.92% | 0.45x | 2.52x | $-168.46 Million |
| 2025 | 13.13% | 11.37% | 0.45x | 2.58x | $257.49 Million |
Industry Comparison
This section compares Waste Connections Inc's net assets metrics with peer companies in the Waste Management industry.
Industry Context
- Industry: Waste Management
- Average net assets among peers: $106,965,087
- Average return on equity (ROE) among peers: -26.01%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Waste Connections Inc (WCN) | $8.23 Billion | -73.91% | 1.58x | $41.83 Billion |
| American Battery Technology Company Common Stock (ABAT) | $-518.99K | 0.00% | 0.00x | $409.20 Million |
| Agilyx AS (AGXXF) | $7.06 Million | -311.75% | 2.48x | $152.59 Million |
| Ambipar Emergency Response (AMBI) | $65.12 Million | 0.00% | 2.26x | $5.74 Million |
| Anaergia Inc (ANRGF) | $7.17 Million | 121.67% | 44.10x | $20.51 Million |
| Aqua Metals Inc (AQMS) | $49.59 Million | -90.33% | 0.40x | $12.07 Million |
| Avalon Holdings Corporation (AWX) | $54.20 Million | 2.21% | 0.23x | $4.90 Million |
| BacTech Environmental Corporation (BCCEF) | $-2.80 Million | 0.00% | 0.00x | $7.36 Million |
| Befesa S.A (BFSAF) | $877.36 Million | 6.61% | 1.22x | $1.39 Billion |
| BluMetric Environmental Inc. (BLMWF) | $6.08 Million | 7.76% | 1.55x | $27.18 Million |
| BQE Water Inc (BTQNF) | $6.41 Million | 3.77% | 0.31x | $25.45 Million |