WCN vs. WM
Compare and contrast key facts about Waste Connections, Inc. (WCN) and Waste Management, Inc. (WM).
Performance
WCN vs. WM - Performance Comparison
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WCN vs. WM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCN Waste Connections, Inc. | -7.17% | 2.92% | 15.72% | 13.47% | -2.02% | 33.80% | 13.86% | 23.19% | 5.47% | 36.47% |
WM Waste Management, Inc. | 5.00% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
Fundamentals
WCN:
$6.25
WM:
$6.70
WCN:
25.98
WM:
34.31
WCN:
0.50
WM:
2.81
WCN:
2.95
WM:
3.69
WCN:
$9.47B
WM:
$25.20B
WCN:
$3.00B
WM:
$7.33B
WCN:
$2.67B
WM:
$7.27B
Returns By Period
In the year-to-date period, WCN achieves a -7.17% return, which is significantly lower than WM's 5.00% return. Over the past 10 years, WCN has underperformed WM with an annualized return of 15.04%, while WM has yielded a comparatively higher 16.64% annualized return.
WCN
- 1D
- 0.36%
- 1M
- -5.63%
- YTD
- -7.17%
- 6M
- -7.21%
- 1Y
- -16.15%
- 3Y*
- 6.08%
- 5Y*
- 9.01%
- 10Y*
- 15.04%
WM
- 1D
- -0.07%
- 1M
- -4.21%
- YTD
- 5.00%
- 6M
- 4.88%
- 1Y
- 0.76%
- 3Y*
- 13.82%
- 5Y*
- 13.95%
- 10Y*
- 16.64%
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Return for Risk
WCN vs. WM — Risk / Return Rank
WCN
WM
WCN vs. WM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Connections, Inc. (WCN) and Waste Management, Inc. (WM). 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.
| WCN | WM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.75 | 0.04 | -0.79 |
Sortino ratioReturn per unit of downside risk | -0.90 | 0.18 | -1.08 |
Omega ratioGain probability vs. loss probability | 0.88 | 1.02 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | -0.71 | 0.13 | -0.84 |
Martin ratioReturn relative to average drawdown | -1.31 | 0.31 | -1.62 |
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
| WCN | WM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.75 | 0.04 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.77 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.86 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.37 | +0.19 |
Correlation
The correlation between WCN and WM is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
WCN vs. WM - Dividend Comparison
WCN's dividend yield for the trailing twelve months is around 0.82%, less than WM's 1.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WCN Waste Connections, Inc. | 0.82% | 0.74% | 0.68% | 0.70% | 0.71% | 0.62% | 0.74% | 0.73% | 0.78% | 0.70% | 1.20% | 1.86% |
WM Waste Management, Inc. | 1.49% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Drawdowns
WCN vs. WM - Drawdown Comparison
The maximum WCN drawdown since its inception was -68.85%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for WCN and WM.
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Drawdown Indicators
| WCN | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.85% | -77.85% | +9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -21.39% | -18.14% | -3.25% |
Max Drawdown (5Y)Largest decline over 5 years | -21.39% | -18.14% | -3.25% |
Max Drawdown (10Y)Largest decline over 10 years | -31.59% | -30.07% | -1.52% |
Current DrawdownCurrent decline from peak | -18.15% | -6.41% | -11.74% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -17.74% | +9.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.59% | 7.53% | +4.06% |
Volatility
WCN vs. WM - Volatility Comparison
Waste Connections, Inc. (WCN) has a higher volatility of 6.88% compared to Waste Management, Inc. (WM) at 5.94%. This indicates that WCN's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCN | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.88% | 5.94% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 16.32% | 13.99% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.64% | 19.06% | +2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.83% | 18.30% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.62% | 19.38% | +0.24% |
Financials
WCN vs. WM - Financials Comparison
This section allows you to compare key financial metrics between Waste Connections, Inc. and Waste Management, 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
WCN vs. WM - Profitability Comparison
WCN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Waste Connections, Inc. reported a gross profit of 0.00 and revenue of 2.37B. Therefore, the gross margin over that period was 0.0%.
WM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Waste Management, Inc. reported a gross profit of 1.85B and revenue of 6.31B. Therefore, the gross margin over that period was 29.3%.
WCN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Waste Connections, Inc. reported an operating income of 420.83M and revenue of 2.37B, resulting in an operating margin of 17.7%.
WM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Waste Management, Inc. reported an operating income of 1.18B and revenue of 6.31B, resulting in an operating margin of 18.6%.
WCN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Waste Connections, Inc. reported a net income of 258.50M and revenue of 2.37B, resulting in a net margin of 10.9%.
WM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Waste Management, Inc. reported a net income of 742.00M and revenue of 6.31B, resulting in a net margin of 11.8%.