WCN vs WM
Waste Connections, Inc. and Waste Management, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | WCN | WM |
|---|---|---|
| Revenue | $9.5B | $25.2B |
| Net income | $1.1B | $2.7B |
| Gross margin | 42.4% | 40.4% |
| Net margin | 11.4% | 10.7% |
| Return on equity | 13.4% | 29.7% |
| Diluted EPS | $4.17 | $6.70 |
| Dividend / share | $1.29 | $3.30 |
| Payout ratio | 31.0% | 49.3% |
| Free cash flow | $1.2B | $2.8B |
| Equity | $8.2B | $10.0B |
| Net debt / equity | 1.06× | 2.27× |
| Current ratio | 0.62× | 0.89× |
| Revenue CAGR 5y | 11.7% | 10.6% |
| Profit CAGR 5y | 39.4% | 12.6% |
WM bills 2.7× the revenue of WCN, and WCN keeps more of each dollar of revenue as profit (11.4% against 10.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | WCN | WM |
|---|---|---|
| FY2025 | $9.5B | $25.2B |
| FY2024 | $8.9B | $22.1B |
| FY2023 | $8.0B | $20.4B |
| FY2022 | $7.2B | $19.7B |
| FY2021 | $6.2B | $17.9B |
| FY2020 | $5.4B | $15.2B |
| FY2019 | $5.4B | $15.5B |
| FY2018 | $4.9B | $14.9B |
| FY2017 | $4.6B | $14.5B |
| FY2016 | $3.4B | $13.6B |
Net income by year
Bottom line
| Fiscal year | WCN | WM |
|---|---|---|
| FY2025 | $1.1B | $2.7B |
| FY2024 | $617.6M | $2.7B |
| FY2023 | $762.8M | $2.3B |
| FY2022 | $835.7M | $2.2B |
| FY2021 | $618.0M | $1.8B |
| FY2020 | $204.7M | $1.5B |
| FY2019 | $566.8M | $1.7B |
| FY2018 | $546.9M | $1.9B |
| FY2017 | $576.8M | $1.9B |
| FY2016 | $246.5M | $1.2B |
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