Waste Connections Cash Flow Statement
NYSE: WCNUtilitiesEnvironmental ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Waste Connections free cash flow
In fiscal 2025, Waste Connections generated $2.41 billion of operating cash flow and spent $1.18 billion on capital expenditures. That left free cash flow of $1.23 billion, a free-cash-flow margin of 13.0% of revenue. Free cash flow was up 5.3% from the prior year's $1.17 billion.
Waste Connections returned $839.3 million to shareholders: $333.8 million in dividends and $505.5 million in share repurchases, equal to 68% of free cash flow. Free cash flow covered dividend payments 3.7 times.
Summary generated from market data by MetaCap's automated system. Methodology
Waste Connections cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 1.08B | 616.57M | 762.83M | 836.00M | 618.49M | 203.99M | 566.68M | 547.15M | 577.42M | 247.32M |
| Net Income growth (YoY) | +74.60% | -19.17% | -8.75% | +35.17% | +203.19% | -64.00% | +3.57% | -5.24% | +133.47% | — |
| Depreciation & Amortization | 1.23B | 1.16B | 1.00B | 918.96M | 813.01M | 752.40M | 743.92M | 680.49M | 632.48M | 463.91M |
| Stock-Based Compensation | 79.45M | 77.89M | 70.44M | 63.48M | 58.22M | 45.75M | 42.67M | 43.80M | 39.36M | 44.77M |
| Change in Working Capital | -12.98M | -51.41M | 30.21M | 119.76M | 36.20M | -121.61M | 67.39M | 32.83M | -46.88M | 39.48M |
| Operating Cash Flow | 2.41B | 2.23B | 2.13B | 2.02B | 1.70B | 1.41B | 1.54B | 1.41B | 1.19B | 795.31M |
| Capital Expenditures | -1.18B | -1.06B | -934.00M | -912.68M | -744.32M | -597.05M | -634.41M | -546.14M | -479.29M | -344.72M |
| Investing Cash Flow | -2.02B | -3.16B | -1.58B | -3.09B | -1.69B | -1.05B | -1.43B | -1.37B | -860.91M | -292.58M |
| Dividends Paid | -333.81M | -302.26M | -270.60M | -243.01M | -220.20M | -199.88M | -175.07M | -152.55M | -131.97M | -92.55M |
| Share Repurchases | -505.52M | 0 | 0 | -425.00M | -338.99M | -105.65M | — | -58.93M | — | — |
| Debt Issued | 2.67B | 4.56B | 1.82B | 4.82B | 2.11B | 1.82B | 1.58B | 1.02B | 973.75M | 3.47B |
| Debt Repaid | -2.13B | -3.25B | -2.05B | -3.07B | -1.89B | -1.54B | -1.47B | -970.77M | -770.11M | -3.71B |
| Financing Cash Flow | -360.04M | 944.95M | -544.40M | 1.03B | -499.50M | -78.22M | -95.89M | -187.58M | 56.76M | -354.87M |
| Net Change in Cash | 31.41M | 14.13M | 2.67M | -38.25M | -494.77M | 291.17M | 19.25M | -149.45M | 384.90M | 147.26M |
| Free Cash Flow | 1.23B | 1.17B | 1.19B | 1.11B | 953.91M | 811.47M | 906.14M | 865.09M | 707.97M | 450.59M |
This table shows 10 annual periods of Waste Connections's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow WCN's reporting calendar. What is a cash flow statement?