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Waste Connections

WCN · NYSE · Refuse Systems
Insider buys (12 months)
$7.6M
Insider sales (12 months)
$5.4M
8-K reports (12 months)
11
Tracked investors holding
4

At a glance

Waste Connections reported 2025 revenue of $9.47B, up 6.1% from $8.92B in 2024. Over 4 years since 2021 ($6.15B), that is growth of about 11.4% a year. Operating margin was 18.1%, up from 16.9% in 2021. 2025 was the highest revenue year in this period.

In the last 12 months 10 insiders reported 1 open-market purchase ($7.6M) and 15 sales ($5.4M). None of the sales were flagged as 10b5-1 plan trades. The largest was a purchase of $7.6M by President & CEO Ronald J Mittelstaedt on May 13, 2026. Net, insiders were buyers of $2.2M.

Waste Connections filed 11 current reports (Form 8-K) in the last 12 months, most often for results of operations (4), material agreement (4), new financial obligation (2) and other events (1). The latest officer or director change was reported on Mar 18, 2026. It reported a material agreement or a completed acquisition or disposal 4 times.

4 of the 20 investors tracked here held Waste Connections at the last quarter end, worth $429.7M combined. It is the largest weight for Gates Foundation Trust (1% of its portfolio), followed by National Pension Service (Korea) (0%). Added: National Pension Service (Korea). Reduced: Renaissance Technologies.

Annual results

2021
Revenue $6.15B
Op. $1.04B
2022
Revenue $7.21B
Op. $1.24B
2023
Revenue $8.02B
Op. $1.24B
2024
Revenue $8.92B
Op. $1.07B
2025
Revenue $9.47B
Op. $1.71B
RevenueOperating income (or net income)SEC XBRL annual filings, fiscal years mapped to calendar years
Year20212022202320242025
Net income$618M$835.7M$762.8M$617.6M$1.08B
Diluted EPS$2.36$3.24$2.95$2.39$4.17
Dividend per share$0.84$0.94$1.05$1.17$1.29

Fiscal year ends Dec 31 · incorporated in A6

Tracked investors holding (13F)

Gates Foundation TrustUnchanged$339.9M · 1.0% · held 8 quarters
National Pension Service (Korea)Added$68.4M · 0.0% · held 7 quarters
Renaissance TechnologiesReduced$20M · 0.0% · held 7 quarters
Bridgewater AssociatesUnchanged$1.3M · 0.0% · held 8 quarters

Weight is the share of each investor's portfolio, as of the quarter end.

Current reports (8-K, last 12 months)

Insider open-market trades (last 12 months)

Source: SEC EDGAR. How figures are combined