Waste Connections Inc
NYSE: WCN · INDUSTRIALS · WASTE MANAGEMENT
Updated 2026-04-29
Waste Connections Inc (WCN) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for WCN.
Current price exceeds what fundamentals support. Risk/reward skewed unfavorably.
WCN historical valuation range
Where current P/E sits in WCN's own 5Y range.
WCN intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
WCN valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 40.04x
P/S Ratio — History
Current: 4.33x
Is WCN overvalued in 2026?
Waste Connections Inc (WCN) currently trades at $163.75 per share with a market capitalization of $41,605,751,000.00. Based on our multi-factor framework, the stock appears richly valued with a Smart Value Score of 49/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 40.0x, below its 5-year median of 47.0x. The PEG ratio of 1.77 points to a price that reasonably reflects expected earnings growth.
Looking at its own history, WCN is currently trading cheaper than 80% of the last 5Y on P/E. This places it in the 20th percentile of its historical range, a level that has historically coincided with attractive entry points.
Our discounted cash flow model estimates WCN's intrinsic value at $169.53 per share, against the current market price of $163.75. This implies a premium to fair value of -1.28%. The stock is priced close to its estimated fair value, offering limited upside without further operational improvement.
Financial quality is a concern. The Piotroski F-Score of 2/9 flags weakening fundamentals that deserve closer scrutiny before the valuation case can be fully trusted.
Bottom line: WCN appears richly valued on our framework, with a Smart Value Score of 49/100. At current levels the risk/reward is skewed against the buyer. A materially lower price or significant operational improvement would be needed to change the picture.
Frequently asked questions
Is WCN overvalued in 2026?
Based on a Smart Value Score of 49/100, WCN appears overvalued. Current price exceeds what fundamentals currently justify.
What is WCN's fair value?
Our DCF model estimates WCN's intrinsic value at $169.53 per share, versus the current price of $163.75. This produces a margin of safety of -1.28%.
What P/E ratio does WCN trade at?
WCN trades at a P/E of 40.0x on trailing twelve-month earnings, compared to its 5-year median of 47.0x.
Is WCN a buy based on valuation?
WallStSmart does not issue buy or sell recommendations. Our Smart Value Score of 49/100 reflects the combined read on growth, quality, and price. The profile skews cautious. Consider waiting for a better price or clearer operational improvement.
How does WCN's valuation compare to its history?
On P/E, WCN currently sits in the 20th percentile of its own 5Y range. That is historically cheap relative to where it has traded over the period.
What is WCN's Smart Value Score?
WCN's Smart Value Score is 49/100. The Smart Value Score is a proprietary WallStSmart metric blending growth quality, financial health, and valuation attractiveness into a single 0-100 read. Scores above 75 are rare and indicate strong multi-factor alignment.