# GFL Environmental Inc. (GFL.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Industrials / Transportation Infrastructure. Price C$60.45, market value C$21.8 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). GFL Environmental Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **PEG: 0.08**. A PEG of 0.08 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 3.1×**. Each dollar of revenue is priced at 3.1×.
- **Price / book: 3.0×**. The shares trade at 3.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 18.1×**. Enterprise value is 18.1× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 0.9%** (5-yr avg 1.3%). Free cash flow equals 0.9% of the market value, below its five-year average of 1.3%, so the shares are pricier on cash than usual.

## Profitability
- **Gross margin: 20.0%**. GFL Environmental Inc. keeps 20.0% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 5.5%**. 5.5% of revenue is left after running the business.
- **Net margin: 58.0%**. 58.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 52.5%**. A 52.5% return on equity is extremely high; check whether buybacks or debt have shrunk the equity base, which flatters the ratio.
- **Return on invested capital: 1.9%**. Return on all capital, debt included, is 1.9%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -1.2%**. Each dollar of assets produces -1.2% of profit.

## Growth
- **Revenue growth (1 yr): -15.8%** (3-yr -0.7%/yr, 5-yr 9.5%/yr). Revenue fell 15.8% over the last year, against 9.5% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 579.6%**. Earnings per share rose 579.6%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 4.8%/yr**. Free cash flow has compounded at 4.8% a year over three years.

## Financial health
- **Debt to equity: 1.15**. Debt is 1.15 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 5.0×**. It would take 5.0 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 0.7×**. Operating profit covers interest only 0.7×: fragile.
- **Current ratio: 0.58** (quick 0.58). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 2.00**. A Z-score of 2.00 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 0.16%** (C$0.08 per share, trailing). GFL Environmental Inc. yields 0.16%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 1%** (15% of free cash flow). 1% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 3**. 3 straight years of increases.
- **Dividend growth (5 yr): 15.4%/yr** (1-yr 13.5%). The dividend has compounded at 15.4% a year over five years, doubling roughly every 5 years at that pace.
- **Shareholder yield: 3.0%**. Dividends plus net buybacks return 3.0% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (12 analysts). 12 analysts cover GFL Environmental Inc.; the consensus is buy, with an average price target of C$72.50 (+20% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -9.2%** (YTD 2.6%, 3-mo 22.1%). The shares are down 9.2% over twelve months including dividends.
- **From 52-week high: -9.9%** (31.1% above the low). Trading 10% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 62**. An RSI of 62 is neutral.
- **Beta (1 yr): 0.27** (volatility 28%). Beta of 0.27 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=GFL.TO · Page: https://foliofundamentals.com/stocks/gfl.to

Not investment advice.