Waste Connections, Inc. income statement & cash flow
In the fiscal year ended Dec 31, 2025, Waste Connections, Inc. reported net income of $1.08B on revenue of $9.47B. Operating cash flow was $2.41B and capital expenditures were $1.18B, leaving $1.23B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.38B | $4.63B | $4.92B | $5.39B | $5.45B | $6.15B | $7.21B | $8.02B | $8.92B | $9.47B |
| Operating income | $452.30M | $627.10M | $832.24M | $837.78M | $412.43M | $1.04B | $1.24B | $1.24B | $1.07B | $1.71B |
| Net income | $246.54M | $576.82M | $546.87M | $566.84M | $204.68M | $618.05M | $835.66M | $762.80M | $617.57M | $1.08B |
| Diluted EPS | $1.07 | $2.18 | $2.07 | $2.14 | $0.78 | $2.36 | $3.24 | $2.95 | $2.39 | $4.17 |
| Operating cash flow | $795.31M | $1.19B | $1.41B | $1.54B | $1.41B | $1.70B | $2.02B | $2.13B | $2.23B | $2.41B |
| Capital expenditures | — | $479.29M | $546.14M | $634.41M | $597.05M | $744.32M | $912.68M | $934.00M | $1.06B | $1.18B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | 18.1% | 11.4% |
| Dec 2024 | — | 12.0% | 6.9% |
| Dec 2023 | — | 15.4% | 9.5% |
| Dec 2022 | — | 17.2% | 11.6% |
| Dec 2021 | — | 16.9% | 10.0% |
Source: SEC EDGAR XBRL company facts for CIK 1318220 (raw data). Most recent filing in this dataset: 10-Q filed Oct 22, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.