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MARKETS / NYSE / Utilities / Waste management / GFL
NYSE · REFUSE SYSTEMS · SMALL CAP

GFL Environmental Inc. GFL

7 fiscal years on record · CAD · FY2025 reported · SEC filings only
CAD 6.6B
▲ 7.8% YoY
CAD 3.8B

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

It operates throughout Canada and in 18 U.S. states. As of December 31, 2025, it had approximately 15,000 employees across its operations, 44.1% in Canada and 55.9% in the United States. In fiscal 2025 it generated approximately 68% of its revenue from its U.S. operations and 32% of its revenue from its Canadian operations. Patrick Dovigi, the company's founder, has led its operations since inception in 2007. Since commencing operations in 2007, it has completed over 290 acquisitions.

Written from the business description in GFL Environmental Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.

Growth

CAD 6.6B
Revenue, FY2025 · full 7-year series below
Revenue CAD B Net income CAD B
FY2025 · Revenue 6.6 · Net income 3.8
3.0B6.0B-0.5B-1.0B
201920222025
Compound annual growth
−0.7%
+9.5%
+425.2%
+196.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.5% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

58 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Net 57.6%
20%40%-10%-20%
201920222025
ROE
FY2025 · ROE 53.7%
20%40%-10%-20%
201920222025
Three returns, three denominators.
Return on capital employedNot available: we don't have a clean operating profit figure for this period.
Gross margin20.7%
Operating margin·
Net margin57.6%
EBITDA·

Each CAD of equity produced 54 cents of profit this year.

Cash & shareholders

CAD 3.0B
returned in FY2025 · dividends + net buybacks
Net buybacks CAD B Dividends CAD B
FY2025 · Dividends 0.0 · Net buybacks 3.0
2B3B
2019202020212022202320242025
Dividends paidCAD 31.1M
Net buybacksCAD 3.0B
Share of profit78.2%
Consecutive raises·

CAD 31.1M in dividends and CAD 3.0B in buybacks — 78% of the year's profit went back to shareholders.

Total assetsCAD 19.3B
EquityCAD 7.3B
CashCAD 85.6M
Gross debtCAD 7.4B
Net debtCAD 7.3B
Current ratio0.58×

Net debt stands at 100% of equity.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · CAD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
GFL, 7-year financial record
Metric 2025202420232022202120202019
Revenue CAD B6.66.17.56.85.14.23.3
Operating income CAD B◌◌◌◌◌◌◌
EBITDA CAD B◌◌◌◌◌◌◌
Income tax CAD B−0.0−0.20.2−0.2−0.1−0.3−0.2
Net income CAD B3.8−0.70.0−0.3−0.6−1.1−0.5
EPS, diluted CAD 9.99−2.11−0.13−1.08−1.83−3.10◌
Dividend / sh CAD ◌◌◌◌◌◌◌
Payout %1−455−7−3−1−0
ROE %53.7−10.20.7−5.3−10.7−26.4−15.2
Shares out B0.370.410.410.380.380.350.18

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

ET · EPD · OKE · DUK · NRG · SO
Provenance

Company facts, as filed

How we verify · 1 failure · 2 divergences in 29 reconciliationsAUDITED

Reconciled in 4 of the 7 fiscal years we could check. 2 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 24 checks were skipped: the balance sheet is not tagged before 2019. 12 checks were skipped: EPS is not tagged before 2019. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency1 failure2 divergent
ActivityRefuse Systems
Listed onNYSE
Incorporated inoutside the United States — SEC code A6
Fiscal year endsDecember 31
Data on record since2018

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