# Waste Management CDR (CAD Hedged) (WAST.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Industrials / Commercial Services. Price C$21.99, market value C$124.8 billion.

## Valuation
- **P/E (trailing): 31.0×** (5-yr avg 44.4×, 3-yr avg 44.4×). Waste Management CDR (CAD Hedged) trades at 31.0× trailing earnings, well below its own five-year average of 44.4×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×.
- **Price / sales: 4.8×**. Each dollar of revenue is priced at 4.8×.
- **Price / book: 10.0×**. The shares trade at 10.0× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 19.0×**. Enterprise value is 19.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 3.0%** (5-yr avg 2.3%). Free cash flow equals 3.0% of the market value, above its five-year average of 2.3%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 3.2%**. The inverse of the P/E: 3.2% of the price is earned each year.

## Profitability
- **Gross margin: 40.8%**. Waste Management CDR (CAD Hedged) keeps 40.8% of revenue after the direct cost of what it sells.
- **Operating margin: 18.6%**. 18.6% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 10.7%**. 10.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 27.1%**. 27.1% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 11.7%**. Return on all capital, debt included, is 11.7%.
- **Return on assets: 6.7%**. Each dollar of assets produces 6.7% of profit.

## Growth
- **Revenue growth (1 yr): 14.2%** (3-yr 8.6%/yr). Revenue grew 14.2% over the last year.
- **EPS growth (1 yr): -1.6%** (3-yr 7.5%/yr). Earnings per share fell 1.6%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 13.1%/yr**. Free cash flow has compounded at 13.1% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 2.29**. Debt is 2.29 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.9×**. It would take 2.9 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 5.3×**. Operating profit covers interest 5.3× over, a safe margin.
- **Current ratio: 0.89** (quick 0.85). 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: 3.25**. A Z-score of 3.25 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. Waste Management CDR (CAD Hedged) does not currently pay a dividend.

## Price and momentum
- **From 52-week high: -6.5%** (16.2% above the low). Trading 7% 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): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): -0.08** (volatility 22%). Beta of -0.08 against the S&P/TSX Composite: the shares move much less than the market.

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

Not investment advice.