Bullish case
$190 to $205
More likely if organic price and volume hold up, acquisitions add profitable local density, adjusted EBITDA expands near a 10% compound rate, and investors retain a mid-30s earnings multiple.
Waste Connections, Inc. research snapshot
WCN AI stock analysis currently reads Waste Connections, Inc. as a high-quality North American waste-services business with recurring collection, transfer, disposal, recycling, renewable-fuels, and oilfield-waste operations. The positive signal is Q1 2026 revenue of $2.371 billion, adjusted EBITDA of $769.5 million, and adjusted EBITDA margin of 32.5%. The caution is that the July 9, 2026 close of $170.14 equates to about 41.5x trailing EPS and 37.9x trailing free cash flow per share, while debt remains material. This WCN AI stock analysis is informational only and is not investment advice.
Current price
$170.14 close on July 9, 2026
Market cap
$43.23 billion reported and verified
AI score
72 / 100
Rating
High-quality essential-services compounder with local density, pricing power, acquisition capacity, and a demanding valuation
Trend status
Constructive above the 50-day and 200-day moving averages, while short-term technical indicators are mixed
Data cutoff (updated weekly)
July 9, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | WCN provides recurring collection, transfer, disposal, recycling, renewable-fuels, intermodal, and oilfield-waste services that households, businesses, municipalities, and industrial customers require. | High |
| Moat | Dense local routes, permitted landfills and transfer stations, customer relationships, regulatory know-how, and high replacement cost make direct replication slow and expensive. | High |
| Management | Founder and CEO Ronald Mittelstaedt has built through selective acquisitions, local-market operating discipline, and shareholder returns. The test is whether incremental acquisitions continue to earn returns above the cost of capital. | Medium-high |
| Financial trend | FY2025 revenue rose 6.1% to $9.467 billion and Q1 2026 revenue rose 6.4% to $2.371 billion, while Q1 adjusted EBITDA rose 8.0% to $769.5 million. | High |
| Valuation | At $170.14, WCN trades near 41.5x trailing EPS, 37.9x free cash flow per share, 5.4x book value, and a 0.8% dividend yield. | High |
| Technical trend | Price is slightly above the 50-day moving average and above the 200-day average, but daily technical indicators were mixed to weak after the recent pullback. | Medium |
| Risk level | Main risks include valuation compression, acquisition integration, leverage, landfill closure and post-closure costs, labor and fuel inflation, volume softness, recycling commodities, and regulation. | Medium-high |
| AI confidence | Descriptive confidence is high because filings and market data are rich. Forecast confidence is medium because a share-price outcome depends heavily on earnings growth and the terminal multiple. | High data confidence |
| Investment certainty | WCN is a strong business, but the current valuation leaves limited room for acquisition missteps, slower organic growth, or lower investor appetite for premium industrial-service multiples. | Medium |
WCN AI stock forecast
The WCN AI stock forecast uses scenario math around the $170.14 July 9 close, trailing EPS of $4.10, and a three-year earnings multiple framework. The audited model produced a bearish point near $104.40, a base point near $146.50, and a bullish point near $196.50 before dividends.
$190 to $205
More likely if organic price and volume hold up, acquisitions add profitable local density, adjusted EBITDA expands near a 10% compound rate, and investors retain a mid-30s earnings multiple.
$140 to $155
More likely if EPS compounds near 6%, pricing offsets labor and fuel costs, adjusted free cash flow tracks management expectations, and the market values WCN around 30x earnings.
$100 to $110
More likely if waste volumes soften, landfill or environmental costs rise, acquisition returns disappoint, debt costs increase, or investors re-rate WCN toward a mid-20s earnings multiple.
WCN AI technical analysis
WCN AI technical analysis is constructive on longer moving averages but mixed in the short term as of the July 9, 2026 cutoff. The $170.14 close was above the 50-day moving average of $168.95 and 200-day moving average of $159.81. RSI of 47.87 was neutral, while short-term oscillators and trend indicators were mostly weak.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $170.14 | July 9, 2026 closing price used for market-cap and valuation verification. |
| Immediate support | $168 to $169 | Area around the 50-day moving average of $168.95 and the daily low of $168.98. |
| Deeper support | $159 to $163 | Area around the 200-day simple and exponential moving averages, which is a key test of the longer trend. |
| Near resistance | $171 to $172 | Area around the short-term moving-average cluster and the July 9 daily high of $171.68. |
| Higher resistance | $190 to $192 | Area around the reported 52-week high of $191.91, where supply may reappear. |
| Moving averages | 50-day $168.95, 200-day $159.81 | Investing.com daily technical data showed price above both simple moving averages as of the cutoff. |
| Momentum | RSI 47.87, MACD 0.41 | RSI was neutral and MACD was positive, but the broader daily indicator summary was mixed to weak. |
| Volume | 1.25 million shares | StockAnalysis reported 1,247,685 shares for the July 9 session. Follow-through volume matters on a move through resistance. |
| Volatility | ATR 1.125, beta 0.48 | The low beta and ATR describe recent price movement, not a limit on potential loss. |
| Invalidation | Sustained close below $159 | A durable break below the 200-day area would weaken the constructive longer-term setup and increase valuation-reset risk. |
WCN AI trading strategy
The WCN AI trading strategy below is a rules-based research framework, not personalized advice. It connects price action to revenue growth, adjusted EBITDA, free cash flow, acquisition activity, leverage, landfill liabilities, and commodity-sensitive inputs.
Look for WCN to hold $168 to $169 and then clear $171 to $172 while Q2 results confirm organic growth, pricing retention, adjusted EBITDA progress, and disciplined acquisition activity.
A failed reclaim above resistance or a close below the 50-day area lowers setup confidence, especially if paired with weaker free cash flow or rising closure and post-closure costs.
If WCN pulls back toward $159 to $163 while revenue, margins, cash conversion, and acquisition returns remain intact, compare the lower price with updated EPS, debt, and free cash flow assumptions.
Do not treat every decline as attractive if it reflects lower volumes, a costly landfill revision, integration problems, higher debt costs, or a broad reset in premium-quality valuations.
Track core price, volume, adjusted EBITDA margin, acquisition contribution, adjusted free cash flow, capex, debt-to-EBITDA, buybacks, dividend growth, fuel and recycling commodity effects, and landfill obligations.
Position sizing should reflect that a recurring essential-services business can still produce poor stock returns when the entry valuation is too high.
Investment research summary
Customers pay WCN to collect, transfer, dispose of, recycle, treat, and recover value from waste streams they cannot manage alone. The model works when local route density, disposal access, operating discipline, and price-cost spread reinforce one another.
WCN benefits from permitted landfills and transfer stations, local route density, customer contracts, regulatory complexity, operating know-how, and the capital needed to replicate disposal infrastructure. The moat is strongest in markets where disposal capacity is scarce.
The thesis fails if acquisition returns fall, closure and post-closure liabilities rise, debt grows faster than cash flow, volumes contract, commodity tailwinds reverse, or investors stop paying a premium multiple for waste-services earnings.
Ronald Mittelstaedt has led WCN through a decentralized operating model, selective acquisitions, and capital returns. The key question is whether the next dollar spent on acquisitions, capex, buybacks, or debt reduction earns the best long-run return.
Waste services are an essential, locally regulated industry with modest volume growth and consolidation opportunities. Recycling, renewable-fuels generation, technology-enabled routing, and compliant industrial disposal can add value, but none eliminates capital and environmental risk.
The current price assumes that WCN can sustain high-quality growth and capital allocation. The base scenario points below the current share price if EPS grows near 6% and the market normalizes the multiple toward 30x earnings.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| Current price reference | $170.14 close on July 9, 2026 | StockAnalysis overview | July 9, 2026 |
| Shares outstanding | 254.08 million shares | StockAnalysis statistics | July 9, 2026 |
| Market cap verification | $43.23 billion calculated vs $43.23 billion reported | Pineify financial_rigor.py and StockAnalysis | July 9, 2026 |
| FY2025 revenue | $9.467 billion | WCN 2025 Form 10-K and Macrotrends | July 9, 2026 |
| FY2025 net income | $1.077 billion | WCN 2025 Form 10-K and Macrotrends | July 9, 2026 |
| Q1 2026 revenue and adjusted EBITDA | $2.371 billion revenue and $769.5 million adjusted EBITDA | WCN Q1 2026 earnings release | July 9, 2026 |
| Cash and debt at March 31, 2026 | $112.4 million cash, $8.4 million current debt, and $9.094 billion long-term debt | WCN Q1 2026 earnings release | July 9, 2026 |
| Q1 2026 cash flow and adjusted free cash flow | $545.6 million operating cash flow and $245.9 million adjusted free cash flow | WCN Q1 2026 earnings release | July 9, 2026 |
| Valuation check | 41.50x PE, 5.37x PB, 37.89x P/FCF, 2.64% FCF yield, and 0.82% dividend yield | Pineify financial_rigor.py | July 9, 2026 |
| Technical moving averages | 50-day $168.95, 200-day $159.81, RSI 47.87, ATR 1.125 | Investing.com technical analysis | July 9, 2026 |
This WCN AI stock analysis is an informational research tool only. It is not investment advice, a recommendation, or a guarantee of future returns. Forecast scenarios are based on available public data as of the stated cutoff date and can be wrong if earnings, acquisition returns, valuation multiples, rates, debt costs, regulation, environmental liabilities, or market conditions change.
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