GFL.TO vs. WCN.TO
GFL.TO (GFL Environmental Inc.) and WCN.TO (Waste Connections, Inc.) are both stocks. Both operate in the Waste Management industry within the Industrials sector. Over the past 5 years, GFL.TO returned 4.85%/yr vs 8.21%/yr for WCN.TO. At a 0.43 correlation, their price movements are largely independent.
Performance
GFL.TO vs. WCN.TO - Performance Comparison
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Returns By Period
In the year-to-date period, GFL.TO achieves a -18.12% return, which is significantly lower than WCN.TO's -12.54% return.
GFL.TO
- 1D
- 3.25%
- 1M
- -6.18%
- YTD
- -18.12%
- 6M
- -22.94%
- 1Y
- -28.70%
- 3Y*
- -1.31%
- 5Y*
- 4.85%
- 10Y*
- —
WCN.TO
- 1D
- 1.70%
- 1M
- -3.88%
- YTD
- -12.54%
- 6M
- -13.42%
- 1Y
- -20.31%
- 3Y*
- 4.60%
- 5Y*
- 8.21%
- 10Y*
- 14.35%
GFL.TO vs. WCN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GFL.TO GFL Environmental Inc. | -18.12% | -7.87% | 40.40% | 15.78% | -17.18% | 29.09% | 65.94% |
WCN.TO Waste Connections, Inc. | -12.54% | -1.70% | 25.48% | 11.09% | 4.86% | 33.02% | 0.12% |
Correlation
The correlation between GFL.TO and WCN.TO is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2020 | 0.43 |
The correlation between GFL.TO and WCN.TO shifts across timeframes, from 0.43 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
GFL.TO:
CA$17.29B
WCN.TO:
CA$53.64B
GFL.TO:
CA$0.56
WCN.TO:
CA$4.09
GFL.TO:
85.44
WCN.TO:
51.31
GFL.TO:
0.01
WCN.TO:
2.45
GFL.TO:
2.66
WCN.TO:
5.63
GFL.TO:
2.38
WCN.TO:
6.65
GFL.TO:
CA$6.70B
WCN.TO:
CA$9.57B
GFL.TO:
CA$1.38B
WCN.TO:
CA$3.76B
GFL.TO:
CA$2.16B
WCN.TO:
CA$2.97B
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Return for Risk
GFL.TO vs. WCN.TO — Risk / Return Rank
GFL.TO
WCN.TO
GFL.TO vs. WCN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GFL Environmental Inc. (GFL.TO) and Waste Connections, Inc. (WCN.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| GFL.TO | WCN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.84 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | -0.95 | +0.11 |
| Martin ratioReturn relative to average drawdown | -1.88 | -1.83 | -0.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GFL.TO | WCN.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.12 | -0.94 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.45 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.67 | -0.25 |
Drawdowns
GFL.TO vs. WCN.TO - Drawdown Comparison
The maximum GFL.TO drawdown since its inception was -39.28%, smaller than the maximum WCN.TO drawdown of -70.07%. Use the drawdown chart below to compare losses from any high point for GFL.TO and WCN.TO.
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Drawdown Indicators
| GFL.TO | WCN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.28% | -70.07% | +30.79% |
Max Drawdown (1Y)Largest decline over 1 year | -34.50% | -21.51% | -12.99% |
Max Drawdown (3Y)Largest decline over 3 years | -34.94% | -26.21% | -8.73% |
Max Drawdown (5Y)Largest decline over 5 years | -39.28% | -26.21% | -13.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.53% | — |
Current DrawdownCurrent decline from peak | -32.15% | -24.82% | -7.33% |
Average DrawdownAverage peak-to-trough decline | -12.46% | -8.65% | -3.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.29% | 11.41% | +3.88% |
Volatility
GFL.TO vs. WCN.TO - Volatility Comparison
GFL Environmental Inc. (GFL.TO) has a higher volatility of 7.74% compared to Waste Connections, Inc. (WCN.TO) at 5.25%. This indicates that GFL.TO's price experiences larger fluctuations and is considered to be riskier than WCN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GFL.TO | WCN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.74% | 5.25% | +2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 21.49% | 17.96% | +3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.67% | 21.72% | +3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.57% | 18.51% | +10.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.92% | 19.29% | +12.63% |
Dividends
GFL.TO vs. WCN.TO - Dividend Comparison
GFL.TO's dividend yield for the trailing twelve months is around 0.18%, less than WCN.TO's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GFL.TO GFL Environmental Inc. | 0.18% | 0.14% | 0.12% | 0.15% | 0.18% | 0.14% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WCN.TO Waste Connections, Inc. | 0.90% | 0.75% | 0.65% | 0.72% | 0.68% | 0.61% | 0.93% | 0.75% | 2.95% | 0.87% | 0.96% | 2.02% |
Financials
GFL.TO vs. WCN.TO - Financials Comparison
This section allows you to compare key financial metrics between GFL Environmental Inc. and Waste Connections, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
GFL.TO vs. WCN.TO - Profitability Comparison
GFL.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a gross profit of 299.80M and revenue of 1.64B. Therefore, the gross margin over that period was 18.2%.
WCN.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a gross profit of 683.40M and revenue of 2.33B. Therefore, the gross margin over that period was 29.3%.
GFL.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported an operating income of 34.00M and revenue of 1.64B, resulting in an operating margin of 2.1%.
WCN.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported an operating income of 358.11M and revenue of 2.33B, resulting in an operating margin of 15.4%.
GFL.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, GFL Environmental Inc. reported a net income of -215.70M and revenue of 1.64B, resulting in a net margin of -13.1%.
WCN.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a net income of 215.75M and revenue of 2.33B, resulting in a net margin of 9.3%.
Frequently Asked Questions
GFL.TO and WCN.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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