Company / Operating Margin
Waste Connections, Inc. Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
18.1%
FY2025
5-year range
12.0% / 18.1%
FY2021-FY2025
Trend
+50.9%
vs FY2024
Sector context
#58 of 304
Industrials
What the data says
Waste Connections, Inc.'s operating margin of 18.1% is higher than 81% of companies in the Industrials sector (FY2025). Operating Margin returned to growth in FY2025 after 2 years of decline, reaching 18.1%.
Based on SEC 10-K filings.
18.1% in FY2025 with a 5-year CAGR of +10.5%. Top quartile in the Industrials sector.
Improved from 16.9% to 18.1% over the past 2 years.
Industrials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +0.8pp
- 5-Year Change
- +10.5pp
- 10-Year Change
- -
Sector benchmark
Top 19% in IndustrialsTop 19% of 304This company 18.1% Sector average -843.0%
▼
+102.1% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 50.9% year-over-year.
- Currently 861.0pp above the Industrials sector average.
- Peak operating margin was recorded in FY2016.
- Lowest operating margin in the period was in FY2017.
Company context
Key Data Points
- Altman Z-Score 1.15 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 18.1% | +50.9% |
| FY2024 | 12.0% | -29.2% |
| FY2023 | 16.9% | -1.9% |
| FY2022 | 17.2% | +1.9% |
| FY2021 | 16.9% | +123.2% |
| FY2020 | 7.6% | -44.1% |
| FY2019 | 13.5% | +1.0% |
| FY2018 | 13.4% | +560.5% |
| FY2017 | -2.9% | -113.5% |
| FY2016 | 21.6% | +843.6% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026