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Casella Waste Systems Inc (CWST) stock

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NASDAQ: CWST Nasdaq Environmental & Facilities Services Next results ~November 9, 2026

C+ Fundamentals grade

Casella Waste Systems Inc is a US-listed company in the environmental & facilities services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 60% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 60% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Casella Waste Systems Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 28 sales by directors and officers, last 12 monthsInsider trades
  • Funds225 adding, 177 cuttingOf 57 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Casella Waste Systems files

Where Casella Waste Systems stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.96bn, up 13.6% on a year earlier, slower than the 14.9% growth a quarter earlier. That growth ranks 1 of 8 among the environmental & facilities services companies we cover. Free-cash-flow margin held at 5.4%. The diluted share count is up 2.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 6 financial-health checks.

Our model value for Casella Waste Systems is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Casella Waste Systems Inc's trailing-twelve-month revenue grew 13.6% year on year, with a free-cash-flow margin of 5.4%. Where it stands out: revenue growth of 13.6% ranks 2 of 17 environmental & facilities services companies we cover.

Our discounted-cash-flow model values the business at ~$55 per share in the base case (~$37–$79 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 16.1% while net income fell 48.4%: a 64pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Share dilution. Diluted shares rose 2.0% in a year.
  • High earnings multiple. The shares trade at 1092 times the last 12 months' earnings, so expectations are demanding.
  • Heavily shorted. 10.9% of the shares available to trade are sold short (8.0 days of average volume to cover).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 5.2% over 90 days.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.40 against an average estimate of $0.29: beat by 36.1%
Revenue
$544m, up 16.9% on a year earlier
Share reaction
-0.7% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
revenues $2.09bn to $2.11bn (fiscal year ending December 31, 2026 ("fiscal year 2026")); net income $0m to $6m (fiscal year ending December 31, 2026 ("fiscal year 2026"))
Next report
November 9, 2026; average EPS estimate $0.38

Casella Waste Systems' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week+3.5%
  • 1 month+17.2%
  • This year-0.1%
  • 1 year+9.3%
  • 5 years+11.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2B
Operating margin
3.4%
Net margin
0.3%
EPS (TTM, diluted)
$0.09

Growth

Revenue growth
+13.6%
Change in growth rate
−1.3 pts
Share count change
+2.0%

Cash

Free cash flow (TTM)
$106M
FCF margin
5.4%
Stock pay % of revenue
0.7%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Insider trade
  4. Results
  5. Guidance
  6. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Casella Waste Systems Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 60% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Casella Waste Systems Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.78 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$33 ~$33–$42 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$11 ~$6.8–$19 Left out: out of range vs price (0.12x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$4.3 ~$3.6–$5.2 Left out: out of range vs price (0.04x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Casella Waste Systems Inc with Environmental & Facilities Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$5.98$12.41$23.02$28.49$46.03$61.95$85.42$79.31$85.46$105.81$97.94$97.89
Market value$243m$512m$963m$1.3bn$2.2bn$3.0bn$4.4bn$4.1bn$4.7bn$6.3bn$6.2bn$6.2bn
+ Net debt (− = net cash)$523m$523m$496m$551m$519m$394m$529m$532m$834m$790m$1.0bn$1.3bn
Enterprise value$766m$1.0bn$1.5bn$1.8bn$2.7bn$3.4bn$4.9bn$4.6bn$5.6bn$7.1bn$7.3bn$7.6bn
Multiples
Price / sales 0.4x0.9x1.6x1.9x3.0x3.9x4.9x3.8x3.7x4.1x3.4x3.2x
Price / earnings ———196.0x69.8x33.3x107.1x77.3x186.0xn/mn/mn/m
Price / free cash flow 11.8x19.5x22.6x26.4x161.6x95.5x74.0x47.5x60.4x80.8x73.5x58.9x
EV / EBITDA 8.1x9.7x29.5x16.4x20.5x22.9x27.2x20.9x22.1x23.1x19.6x19.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

35 /100

Weak moat

How hard Casella Waste Systems's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.9% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 33.5%, moving by 1.1 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 6.7%; its worst year was -2.3%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 10 of 10 years, at a median 5.3% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 25.8% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $563m and EPS of $0.38 (range $0.19 to $0.49) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.25 −2% $2.1bn +15%
Next $1.43 +14% $2.3bn +7%

Next year's EPS estimate has moved −5.2% in 90 days, across 11 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +7.5% on 90 days ago. In the last 30 days, 2 analysts raised Casella Waste Systems Inc's forecast and 3 cut it.

Consensus EPS forecast Casella Waste Systems Inc, last 90 days
$1.10 $1.20 $1.30 $1.40 $1.50 $1.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.16 Current fiscal year, 60 days ago: $1.26 Current fiscal year, 30 days ago: $1.26 Current fiscal year, 7 days ago: $1.24 Current fiscal year, Now: $1.25 $1.25 Next fiscal year, 90 days ago: $1.50 Next fiscal year, 60 days ago: $1.47 Next fiscal year, 30 days ago: $1.47 Next fiscal year, 7 days ago: $1.44 Next fiscal year, Now: $1.43 $1.43

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.16$1.50
60 days ago $1.26$1.47
30 days ago $1.26$1.47
7 days ago $1.24$1.44
Now $1.25$1.43

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.29 $0.40 +36.1%
Mar 2026 $0.12 $0.20 +69.7%
Dec 2025 $0.22 $0.30 +33.6%
Sept 2025 $0.32 $0.42 +29.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Revenues fiscal year ending December 31, 2026 ("fiscal year 2026") $2.09bn to $2.11bn Raised
    “Revenues between $2.090 billion and $2.110 billion (raised from a range of $2.060 billion to $2.080 billion); and” source
  • Net income fiscal year ending December 31, 2026 ("fiscal year 2026") $0m to $6m GAAP Lowered
    “Net income between $0 and $6 million (lowered from a range of $4 million to $10 million).” source
  • Adjusted EBITDA fiscal year 2026 $473m to $483m Non-GAAP Maintained
    “Adjusted EBITDA between $473 million and $483 million;” source
  • Net cash provided by operating activities fiscal year 2026 $370m to $380m GAAP Maintained
    “Net cash provided by operating activities between $370 million and $380 million; and” source
  • Adjusted Free Cash Flow fiscal year 2026 $200m to $210m Non-GAAP Maintained
    “Adjusted Free Cash Flow between $200 million and $210 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

11 analysts, Nov 2026
Buy764%
Hold327%
Sell19%

Monthly trend

  1. Nov 2026163111
  2. Oct 2026172111
  3. Sep 2026172111

Counts of recommendations published by analysts covering Casella Waste Systems Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.9%
of tradable shares
Days to cover
8.02
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.6%
of shares
Employees
5,600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +10.5%

$88.57 on October 31, 2025 to $97.89

ThenNowEffect
Revenue (last 12 months) $1.7bn $2.0bn +13.6%
Net margin 0.6% 0.3% −54.5%
P/E multiple n/m n/m +118.4%
Share count 62m 64m −2.0%

Biggest factor: net margin.

Last 3 years +23.7%

$79.13 on November 3, 2023 to $97.89

ThenNowEffect
Revenue (last 12 months) $1.1bn $2.0bn +74.7%
Net margin 3.6% 0.3% −91.9%
P/E multiple 102.8x n/m +962.6%
Share count 52m 64m −18.1%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CWST+38%−7%+8%+24%−7%−0%
Industry peers (median)+31%−6%+21%+15%−9%+1%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CWST75%50%58%50%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CWST−13%−28%−23%−10%−31%−30%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 38% from May 6, 2025 to March 27, 2026. Getting back needed a 61% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$74.97 – $107.34
From 52-week high
−8.8%
vs 50-day average
+10.2%
vs 200-day average
+8.7%
Volatility (1 year)
37%
Beta vs S&P 500
-0.02

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±3.8%
After a week
9 up, 3 down
typical move ±4.5%
After a month
8 up, 4 down
typical move ±8.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −0.7% +0.5% +1.1% +3.9%
April 30, 2026 +11.2% +1.3% +9.4% +8.9%
February 19, 2026 −6.7% +0.5% −10.0% −24.1%
October 30, 2025 +5.2% −0.8% +4.9% +14.2%
July 31, 2025 −5.0% −2.0% −8.3% −9.1%
May 1, 2025 −0.6% +2.2% +0.9% −0.4%
February 12, 2025 −0.7% +0.7% +7.7% 0.0%
October 30, 2024 −4.4% −2.3% +4.4% +10.5%
August 1, 2024 +1.8% −3.3% +0.3% +4.2%
April 25, 2024 −5.2% +0.6% −3.6% +5.0%
February 15, 2024 −0.1% +0.2% +0.4% +4.9%
November 1, 2023 +4.1% +3.0% +2.8% +10.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Casella Waste Systems Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Casella Waste Systems Inc
$1B $1.2B $1.4B $1.6B $1.8B $2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.2B Revenue (TTM), FY23 Q4: $1.3B Revenue (TTM), FY24 Q1: $1.3B Revenue (TTM), FY24 Q2: $1.4B Revenue (TTM), FY24 Q3: $1.5B Revenue (TTM), FY24 Q4: $1.6B Revenue (TTM), FY25 Q1: $1.6B Revenue (TTM), FY25 Q2: $1.7B Revenue (TTM), FY25 Q3: $1.8B Revenue (TTM), FY25 Q4: $1.8B Revenue (TTM), FY26 Q1: $1.9B Revenue (TTM), FY26 Q2: $2B $2B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.2B
FY23 Q4 $1.3B
FY24 Q1 $1.3B
FY24 Q2 $1.4B
FY24 Q3 $1.5B
FY24 Q4 $1.6B
FY25 Q1 $1.6B
FY25 Q2 $1.7B
FY25 Q3 $1.8B
FY25 Q4 $1.8B
FY26 Q1 $1.9B
FY26 Q2 $2B
Revenue growth, TTM YoY Casella Waste Systems Inc
10% 15% 20% 25% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 11.6% Revenue growth, TTM YoY, FY23 Q4: 16.5% Revenue growth, TTM YoY, FY24 Q1: 20.6% Revenue growth, TTM YoY, FY24 Q2: 27.8% Revenue growth, TTM YoY, FY24 Q3: 26.5% Revenue growth, TTM YoY, FY24 Q4: 23.1% Revenue growth, TTM YoY, FY25 Q1: 21.6% Revenue growth, TTM YoY, FY25 Q2: 20.3% Revenue growth, TTM YoY, FY25 Q3: 20.5% Revenue growth, TTM YoY, FY25 Q4: 18.0% Revenue growth, TTM YoY, FY26 Q1: 14.9% Revenue growth, TTM YoY, FY26 Q2: 13.6% 13.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 11.6%
FY23 Q4 16.5%
FY24 Q1 20.6%
FY24 Q2 27.8%
FY24 Q3 26.5%
FY24 Q4 23.1%
FY25 Q1 21.6%
FY25 Q2 20.3%
FY25 Q3 20.5%
FY25 Q4 18.0%
FY26 Q1 14.9%
FY26 Q2 13.6%
Operating margin (TTM) Casella Waste Systems Inc
3% 4% 5% 6% 7% 8% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 7.2% Operating margin (TTM), FY23 Q4: 6.4% Operating margin (TTM), FY24 Q1: 5.7% Operating margin (TTM), FY24 Q2: 5.4% Operating margin (TTM), FY24 Q3: 4.5% Operating margin (TTM), FY24 Q4: 4.7% Operating margin (TTM), FY25 Q1: 4.2% Operating margin (TTM), FY25 Q2: 3.8% Operating margin (TTM), FY25 Q3: 3.9% Operating margin (TTM), FY25 Q4: 3.5% Operating margin (TTM), FY26 Q1: 3.5% Operating margin (TTM), FY26 Q2: 3.4% 3.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 7.2%
FY23 Q4 6.4%
FY24 Q1 5.7%
FY24 Q2 5.4%
FY24 Q3 4.5%
FY24 Q4 4.7%
FY25 Q1 4.2%
FY25 Q2 3.8%
FY25 Q3 3.9%
FY25 Q4 3.5%
FY26 Q1 3.5%
FY26 Q2 3.4%
FCF margin (TTM) Casella Waste Systems Inc
2% 4% 6% 8% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 7.6% FCF margin (TTM), FY23 Q4: 6.2% FCF margin (TTM), FY24 Q1: 4.3% FCF margin (TTM), FY24 Q2: 3.5% FCF margin (TTM), FY24 Q3: 3.8% FCF margin (TTM), FY24 Q4: 5.0% FCF margin (TTM), FY25 Q1: 5.8% FCF margin (TTM), FY25 Q2: 5.3% FCF margin (TTM), FY25 Q3: 4.4% FCF margin (TTM), FY25 Q4: 4.6% FCF margin (TTM), FY26 Q1: 5.5% FCF margin (TTM), FY26 Q2: 5.4% 5.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 7.6%
FY23 Q4 6.2%
FY24 Q1 4.3%
FY24 Q2 3.5%
FY24 Q3 3.8%
FY24 Q4 5.0%
FY25 Q1 5.8%
FY25 Q2 5.3%
FY25 Q3 4.4%
FY25 Q4 4.6%
FY26 Q1 5.5%
FY26 Q2 5.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-KT, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Apr 2010 2011 Apr 2011 2012 Apr 2012 2013 Apr 2013 2014 Apr 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 458 455 468 455 498 547 565 599 661 743 775 889 1,085 1,265 1,557 1,837 1,955
Gross profit 154 149 150 132 143 164 183 194 207 235 259 307 362 433 530 620 654
EBITDA 96 88 47 69 72 95 107 50 110 133 150 181 222 251 308 371 391
Operating income 33 29 −11 12 12 32 45 −13 40 53 59 78 95 80 73 64 66
Net income −14 38 −78 −54 −23 −13 −7 −22 6 32 91 41 53 25 14 8 6
Diluted EPS −$0.54 $1.47 −$2.90 −$1.59 −$0.58 −$0.32 −$0.17 −$0.52 $0.15 $0.66 $1.86 $0.80 $1.03 $0.46 $0.23 $0.12 $0.09
Growth (year on year)
Revenue — −0.6% +2.9% −2.7% +9.3% +9.8% +3.4% +6.1% +10.2% +12.5% +4.2% +14.8% +22.0% +16.5% +23.1% +18.0% +13.6%
EBITDA — −9.2% −45.9% +45.6% +4.7% +30.9% +12.9% −53.6% +122.6% +20.5% +13.0% +20.8% +22.3% +13.3% +22.5% +20.4% +15.2%
Operating income — −10.3% −137.5% — −4.1% +167.4% +41.0% −128.0% — +33.6% +11.7% +31.0% +22.8% −15.7% −9.5% −12.5% +1.1%
Net income — — −301.9% — — — — — — — +187.8% −54.9% +29.1% −52.1% −46.7% — —
Diluted EPS — — −297.3% — — — — — — — +181.8% −57.0% +28.8% −55.3% −50.0% — —
Margins
Gross margin 33.7% 32.7% 32.0% 29.1% 28.7% 30.0% 32.4% 32.4% 31.4% 31.6% 33.4% 34.5% 33.4% 34.2% 34.0% 33.8% 33.4%
EBITDA margin 21.1% 19.3% 10.1% 15.2% 14.5% 17.3% 18.9% 8.3% 16.7% 17.9% 19.4% 20.4% 20.4% 19.9% 19.8% 20.2% 20.0%
Operating margin 7.2% 6.5% −2.4% 2.7% 2.4% 5.8% 8.0% −2.1% 6.0% 7.1% 7.7% 8.7% 8.8% 6.4% 4.7% 3.5% 3.4%
Net margin −3.0% 8.5% −16.6% −11.9% −4.6% −2.4% −1.2% −3.6% 1.0% 4.3% 11.8% 4.6% 4.9% 2.0% 0.9% 0.4% 0.3%
Free-cash-flow margin — −1.4% 1.4% −2.1% 1.3% 3.8% 4.6% 7.1% 7.2% 1.8% 4.1% 6.7% 8.0% 6.2% 5.0% 4.6% 5.4%
Cash flow
Cash from operations 64 48 64 44 50 71 80 108 121 117 140 183 217 233 281 330 351
Capital spending — 55 58 53 43 50 54 65 73 103 108 123 131 155 203 245 245
Free cash flow — −7 6 −9 6 21 26 43 48 14 32 59 86 78 78 85 106
Stock-based pay 2 2 2 3 2 3 3 6 8 7 8 12 8 9 12 14 13
Free cash flow after stock pay — −8 4 −12 4 17 23 36 39 6 24 48 78 69 66 70 92
Balance sheet
Cash — — — — — 2 3 2 4 3 154 34 71 221 358 124 26
Total debt 0 463 475 — 508 525 526 498 555 523 548 563 603 1,055 1,148 1,169 1,364
Net debt (negative = net cash) — — — — — 523 523 496 551 519 394 529 532 834 790 1,045 1,338
Diluted shares 26m 26m 27m 34m 40m 41m 41m 42m 44m 48m 49m 52m 52m 55m 60m 64m 64m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · June 30, 2026
What it owns · $3.6bn
Short-term assets $315mLonger-term assets $3.2bn
What it owes, and who funded it · $1.9bn
Short-term liabilities $317mShareholders' equity $1.6bn
  • Short-term assets cover short-term liabilities $315m of assets due within a year against $317m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $26m of cash against $1.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 84% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 128% to 84% over five years.
  • A year's operating cash flow covers at least 20% of debt $351m of operating cash flow against $1.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $66m against $65m of interest.

From Casella Waste Systems Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+2.0%
year over year
Days sales outstanding
41 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in environmental & facilities services
Last 12 months unless stated CWST BV ROL VLTO CLH ABM Median
Revenue, last 12 months $2.0bn $2.7bn $4.0bn $5.8bn $6.6bn $9.1bn $2.0bn
Revenue growth, last 12 months 13.6% 1.5% 8.3% 6.4% 10.1% 6.0% 6.0%
Revenue growth, 3-year average 20.4% −0.7% 10.2% 5.2% 7.1% 4.5% 4.8%
Revenue growth, latest quarter 16.9% 1.3% 6.2% 7.5% 20.7% 4.2% 7.4%
Gross margin 33.4% 21.2% 52.1% 60.2% 33.1% 12.0% 33.4%
Operating margin 3.4% 3.5% 18.3% 21.8% 13.2% 3.5% 3.5%
Operating margin, 3-year average 4.2% 4.7% 19.1% 22.7% 11.9% 3.4% 4.4%
Net margin 0.3% 0.7% 13.2% 17.3% 8.0% 1.8% 0.7%
Cash from operations / revenue 18.0% 7.8% 17.5% 19.9% 15.5% 4.5% 5.4%
Free-cash-flow margin 5.4% −0.9% 16.8% 18.8% 7.6% 3.4% 3.4%
Free-cash-flow margin, 3-year average 4.7% 1.7% 17.1% 17.5% 6.5% 2.5% 3.6%
Stock pay / revenue 0.7% 0.6% 1.0% 1.3% 0.7% 0.4% 0.7%
Change in share count 2.0% −1.8% −0.7% −1.0% −1.6% −4.5% −0.3%

Median of all 17 companies we cover in environmental & facilities services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

17 environmental & facilities services companies
Measure Company Peer median Rank
Revenue growth Growth 13.6% 6.0% 2 of 17
Change in growth rate Growth -1.3pp +0.6pp 12 of 17
Gross margin Profitability 33.4% 33.1% 7 of 15
Operating margin Profitability 3.4% 3.5% 10 of 16
Net margin Profitability 0.3% 0.7% 10 of 17
Free-cash-flow margin Cash generation 5.4% 3.4% 7 of 17
Stock pay as % of revenue Cash generation 0.7% 0.7% 8 of 17
Long-term debt as % of assets Balance sheet 37.2% 32.5% 10 of 15
Change in share count Balance sheet 2.0% -0.3% 12 of 16
Days sales outstanding Balance sheet 41 days 64 days 4 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Solid Waste Operations $1.5B 80.4% ▲ 20.3%
Western Region $663M 44.9% ▲ 18.1%
Eastern Region $473M 32.0% ▲ 6.5%
Mid Atlantic Region $341M 23.1% ▲ 53.5%
Resource Solutions Region $360M 19.6% ▲ 9.1%
Products and services
Line of business Revenue Share YoY
Collection $1.2B 65.1% ▲ 24.4%
National Accounts $226M 12.3% ▲ 13.5%
Processing Services $144M 7.8% ▲ 1.7%
Transfer $143M 7.8% ▲ 8.5%
Landfill Revenue $97.7M 5.3% ▲ 3.1%
Transportation $22.8M 1.2% ▲ 10.9%
Landfill Gas To Energy $7.6M 0.4% ▼ 4.5%

From Casella Waste Systems Inc's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.5B
Institutions reporting
414
Shares held vs prior quarter
▲ 3.6%
Positions opened / closed
56 / 51

Top buyers and sellers, Q2 2026: 225 institutions bought and 177 sold ; the biggest buyer was Wasatch Advisors LP (+949K shares) and the biggest seller William Blair Investment Management, LLC (−989K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $911M 9.4M 12.2% ▲ 3.8%
Wasatch Advisors LP $342M 3.5M 4.6% ▲ 36.8%
Vanguard Portfolio Management LLC $334M 3.4M 4.5% ▲ 2.8%
Vanguard Capital Management LLC $274M 2.8M 3.7% ▲ 0.9%
State Street Corp $244M 2.5M 3.3% ▲ 5.5%
Conestoga Capital Advisors, LLC $227M 2.3M 3.0% ▼ 16.7%
T. Rowe Price Investment Management, Inc. $202M 2.1M 2.7% ▲ 22.3%
Capital International Investors $199M 2.1M 2.7% ▲ 5.2%
Capital Research Global Investors $197M 2.0M 2.6% ▼ 12.9%
Geode Capital Management, LLC $160M 1.6M 2.1% ▲ 6.1%
Jpmorgan Chase & Co $146M 1.5M 1.9% ▲ 13.6%
Invesco Ltd. $141M 1.5M 1.9% ▼ 11.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Casella Waste Systems Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $5.6M 28 trades by 9 insiders · 9% under pre-set plans
Net ▼ $5.6M net selling
Insider Date Trade Shares Price Value
Burke Michael K Director September 3, 2026 Sell 1,100 $95.26 $104,786
Burke Michael K Director August 26, 2026 Sell 1,100 $92.99 $102,289
Casella Douglas R VICE CHAIRMAN, BD OF DIRECTORS August 14, 2026 Sell 1,343 $91.12 $122,374
Casella Douglas R VICE CHAIRMAN, BD OF DIRECTORS August 13, 2026 Sell 13,319 $91.07 $1.2M
Casella Douglas R VICE CHAIRMAN, BD OF DIRECTORS August 13, 2026 Sell 1,838 $90.89 $167,056
Burke Michael K Director May 26, 2026 Sell 2,305 $87.56 $201,826
Coletta Edmond PRESIDENT & CEO May 19, 2026 Sell 6,000 $89.03 $534,180
Coletta Edmond PRESIDENT & CEO May 19, 2026 Sell 1,593 $90.00 $143,370
Coletta Edmond PRESIDENT & CEO May 19, 2026 Sell 4,907 $90.07 $441,973
Helgeson Bradford John Executive VP and CFO March 16, 2026 Sell pre-set plan 405 $87.73 $35,531
Sayward Shelley E. SENIOR VP & GENERAL COUNSEL March 16, 2026 Sell pre-set plan 362 $87.73 $31,758
Steves Sean Sr VP & COO of SW Ops March 16, 2026 Sell pre-set plan 197 $87.80 $17,297

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Casella Waste Systems Inc disclosed in the last 12 months; 3 earlier trades on record.

  • Jefferson Shreve(R-IN 6):Sale (full), $50,001 - $100,000, traded May 12, 2025, filed June 22, 2025
  • Susie Lee(D-NV 3):Sale (full), $1,001 - $15,000, traded December 10, 2019, filed January 16, 2020
  • Susie Lee(D-NV 3):Purchase, $1,001 - $15,000, traded September 12, 2019, filed October 21, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 29, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • April 30, 2026
  • February 19, 2026
  • October 30, 2025
  • July 31, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Casella Waste Systems Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Casella Waste Systems Inc in brief

What does Casella Waste Systems Inc do?
Casella Waste Systems Inc is a US-listed company in the environmental & facilities services industry. Its financial year ends in December.
What is Casella Waste Systems Inc's stock ticker?
Casella Waste Systems Inc trades under the ticker CWST on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Casella Waste Systems Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Casella Waste Systems Inc reported revenue of $2B, 13.6% higher than a year earlier, according to its SEC filings.
What is Casella Waste Systems Inc's free cash flow?
Casella Waste Systems Inc's free-cash-flow margin is 5.4% of revenue over the trailing twelve months, ranking 7 of the 17 environmental & facilities services companies we cover.
Who are Casella Waste Systems Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Wasatch Advisors LP and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Casella Waste Systems Inc's market cap?
On November 2, 2026, Casella Waste Systems Inc's market capitalisation was about $6.2B, with a price-to-earnings ratio of 1092.1 and net debt of $1.3B. Market figures come from third-party market data and may be delayed.
How much debt does Casella Waste Systems Inc have?
Casella Waste Systems Inc's debt-to-equity ratio is 83.9%, from its latest balance sheet (128.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Casella Waste Systems Inc's competitors?
In our Environmental & Facilities Services peer group, the companies closest to Casella Waste Systems Inc are Brightview Holdings, Inc., Rollins, Inc., Veralto, Clean Harbors Inc and ABM Industries Inc. The side-by-side comparison below sets their revenue, margins and growth against Casella Waste Systems Inc's.
Are insiders buying or selling Casella Waste Systems Inc stock?
Over the last 12 months, Casella Waste Systems Inc's directors and officers reported 0 open-market purchases and 28 sales on Form 4. The insider trading page charts every trade.
When is Casella Waste Systems Inc's next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Casella Waste Systems Inc announces its own schedule.