What is Casella Waste Systems Inc's earnings per share (EPS)?

Casella Waste Systems Inc (CWST) reported diluted earnings per share of $0.12 for fiscal year 2025. This represents a -47.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Casella Waste Systems Inc (CWST) Financials

CWST

Trailing 12 months to June 30, 2026

Revenue $2.0B +13.6% YoY

Net Income $5.7M -48.4% YoY

EPS (Diluted) $0.09 -50.0% YoY

Free Cash Flow $105.7M +16.1% YoY

Market Cap $5.3B as of Oct 9, 2026

Price / Sales 2.7x on $2.0B revenue, trailing 12 months to June 30, 2026

Price / Earnings 935x on $5.7M net income, trailing 12 months to June 30, 2026

Price / Book 3.4x on $1.6B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 7, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CWST SEC filings page.

Casella Waste Systems Inc (CWST) reported $2.0B in revenue over the twelve months to Jun 30, 2026, up 13.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CWST FY2025 2026-10-03

Casella is expanding through asset-heavy investment, but rising depreciation and interest are allowing little of that growth to reach earnings.

Operating margin fell from 6.4% in FY2023 to 3.5% in FY2025 even as revenue expanded, showing that added scale has not yet translated into better operating efficiency. FY2025 operating cash flow reached $330M while free cash flow was only $85M, indicating that much of the cash produced is being absorbed by reinvestment rather than remaining flexible.

Depreciation rose to $307M in FY2025 while interest expense reached $63M; the combination helps explain why EBITDA growth has not flowed through to bottom-line results. Net profit margin ended at just 0.4%, making earnings particularly sensitive to financing and asset-related costs.

Goodwill increased from $736M in FY2023 to $1.1B in FY2025, making the balance sheet increasingly tied to acquired or premium-valued assets. Debt-to-equity remained lower than in FY2023 at 0.7x, but the current ratio fell to 1.3x, indicating that improved long-term leverage did not translate into equally strong short-term liquidity.

Financial Health Signals

Financial Health Score 47/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Casella Waste Systems Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Casella Waste Systems Inc has an operating margin of 3.5%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 53/100, indicating healthy but not exceptional operating efficiency. This is down from 4.7% the prior year.

Growth

Casella Waste Systems Inc's revenue surged 18.0% year-over-year to $1.8B, reflecting rapid business expansion. This strong growth earns a score of 82/100.

Leverage

Casella Waste Systems Inc has elevated debt relative to equity (D/E of 0.72), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 24/100, reflecting increased financial risk.

Liquidity

Casella Waste Systems Inc's current ratio of 1.26 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Casella Waste Systems Inc has a free cash flow margin of 4.6%, earning a moderate score of 45/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Casella Waste Systems Inc's ROE of 0.5% shows moderate profitability relative to equity, earning a score of 45/100. This is down from 0.9% the prior year.

Altman Z-Score Grey Zone

2.44

Casella Waste Systems Inc scores 2.44, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($5.3B) relative to total liabilities ($1.7B). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

4/8

Casella Waste Systems Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

N/A

Casella Waste Systems Inc reported $7.9M of net income while generating $329.8M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.

Interest Coverage At Risk

1.02x

Casella Waste Systems Inc earns $1.02 in operating income for every $1 of interest expense ($63.7M vs $62.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$543.7M

YoY+16.9%

QoQ+18.9%

5Y CAGR+20.3%

10Y CAGR+14.2%

Casella Waste Systems Inc generated $543.7M in revenue in Q2 2026. This represents an increase of 16.9% from the same quarter a year earlier. Against the prior quarter it is up 18.9%.

EBITDA

$108.5M

YoY+12.7%

QoQ+30.9%

5Y CAGR+18.6%

10Y CAGR+13.2%

Casella Waste Systems Inc's EBITDA was $108.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.7% from the same quarter a year earlier. Against the prior quarter it is up 30.9%.

Net Income

$3.8M

YoY-27.6%

QoQ+168.1%

5Y CAGR-20.4%

10Y CAGR-3.2%

Casella Waste Systems Inc reported $3.8M in net income in Q2 2026. This represents a decrease of 27.6% from the same quarter a year earlier. Against the prior quarter it is up 168.1%.

EPS (Diluted)

$0.06

YoY-25.0%

QoQ+166.7%

5Y CAGR-23.6%

10Y CAGR-6.7%

Casella Waste Systems Inc earned $0.06 per diluted share (EPS) in Q2 2026. This represents a decrease of 25.0% from the same quarter a year earlier. Against the prior quarter it is up 166.7%.

Cash & Balance Sheet

Free Cash Flow

$26.5M

YoY+14.5%

QoQ+115.6%

5Y CAGR+8.5%

10Y CAGR+2.7%

Casella Waste Systems Inc generated $26.5M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 14.5% from the same quarter a year earlier. Against the prior quarter it is up 115.6%.

Cash & Debt

$25.5M

YoY-88.3%

QoQ-79.9%

5Y CAGR-31.3%

10Y CAGR+26.8%

Casella Waste Systems Inc held $25.5M in cash against $1.3B in long-term debt as of Q2 2026.

Shares Outstanding

Diluted avg 64M

Casella Waste Systems Inc had a weighted average of 64M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

32.9%

YoY-0.9pp

QoQ+0.4pp

5Y change-2.9pp

Casella Waste Systems Inc's gross margin was 32.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Operating Margin

3.7%

YoY-0.5pp

QoQ+2.6pp

5Y change-6.5pp

10Y change-7.1pp

Casella Waste Systems Inc's operating margin was 3.7% in Q2 2026, reflecting core business profitability. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Net Margin

0.7%

YoY-0.4pp

QoQ+1.9pp

5Y change-4.8pp

10Y change-2.9pp

Casella Waste Systems Inc's net profit margin was 0.7% in Q2 2026, showing the share of revenue converted to profit. This is down 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.

Return on Equity

0.2%

YoY-0.1pp

QoQ+0.6pp

5Y change-2.8pp

Casella Waste Systems Inc's ROE was 0.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.

Capital Allocation

Capital Expenditures

$72.3M

YoY+8.9%

QoQ+44.7%

5Y CAGR+19.9%

10Y CAGR+18.2%

Casella Waste Systems Inc invested $72.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 8.9% from the same quarter a year earlier. Against the prior quarter it is up 44.7%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

CWST Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CWST quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$2.0B	$1.8B+18.0%	$1.6B+23.1%	$1.3B+16.5%	$1.1B+22.0%	$889.2M+14.8%	$774.6M+4.2%	$743.3M+12.5%	$660.7M+10.2%	$599.3M+6.1%	$565.0M+3.4%	$546.5M	N/A	$497.6M+9.3%	$455.3M-2.7%	$467.9M
Cost of Revenue	$1.3B	$1.2B+18.4%	$1.0B+23.5%	$832.0M+15.1%	$723.1M+24.2%	$582.4M+12.9%	$515.6M+1.4%	$508.7M+12.2%	$453.3M+11.9%	$405.2M+6.1%	$382.0M-0.2%	$382.6M	N/A	$354.6M+9.8%	$323.0M+1.6%	$318.1M
Gross Profit	$653.5M	$620.2M+17.0%	$529.9M+22.5%	$432.5M+19.5%	$362.0M+18.0%	$306.8M+18.5%	$258.9M+10.4%	$234.6M+13.1%	$207.4M+6.8%	$194.1M+6.0%	$183.1M+11.7%	$163.9M	N/A	$143.0M+8.1%	$132.3M-11.7%	$149.9M
SG&A Expenses	$234.5M	$224.2M+17.5%	$190.8M+22.4%	$155.8M+16.8%	$133.4M+12.3%	$118.8M+16.0%	$102.4M+10.4%	$92.8M+9.4%	$84.8M+7.0%	$79.2M+5.2%	$75.4M+3.4%	$72.9M	N/A	$61.9M+6.3%	$58.2M-3.4%	$60.3M
Operating Income	$66.1M	$63.7M-12.5%	$72.8M-9.5%	$80.4M-15.7%	$95.4M+22.8%	$77.7M+31.0%	$59.3M+11.7%	$53.1M+33.6%	$39.7M+415.8%	-$12.6M-128.0%	$44.9M+41.0%	$31.9M	N/A	$11.9M-4.1%	$12.4M+212.6%	-$11.0M
EBITDA	N/A	$370.5M+20.4%	$307.7M+22.5%	$251.1M+13.3%	$221.7M+22.3%	$181.3M+20.8%	$150.1M+13.0%	$132.9M+20.5%	$110.2M+122.6%	$49.5M-53.6%	$106.8M+12.9%	$94.6M	N/A	$72.3M+4.7%	$69.0M+45.6%	$47.4M
Interest Expense	$65.2M	$62.5M+0.2%	$62.4M+31.2%	$47.6M+100.6%	$23.7M+11.7%	$21.2M-5.1%	$22.4M-10.9%	$25.1M-4.5%	$26.3M+4.5%	$25.2M-35.4%	$38.9M-3.7%	$40.4M	N/A	$38.2M-8.2%	$41.6M-7.6%	$45.0M
Income Tax	$3.1M	$5.2M-31.0%	$7.5M-35.5%	$11.6M-46.8%	$21.9M+29.2%	$16.9M+132.1%	-$52.8M-2717.7%	-$1.9M-388.0%	-$384K+97.5%	-$15.3M-3187.7%	$494K-63.4%	$1.4M	N/A	$1.8M+171.2%	-$2.5M-258.6%	$1.6M
Net Income	$5.7M	$7.9M-41.9%	$13.5M-46.7%	$25.4M-52.1%	$53.1M+29.1%	$41.1M-54.9%	$91.1M+187.8%	$31.7M+393.0%	$6.4M+129.5%	-$21.8M-218.3%	-$6.8M+47.2%	-$13.0M+52.7%	-$27.4M	-$23.1M+57.3%	-$54.1M+30.2%	-$77.6M
EPS (Basic)	N/A	$0.12-47.8%	$0.23-50.0%	$0.46-55.3%	$1.03+28.7%	$0.80-57.2%	$1.87+179.1%	$0.67+346.7%	$0.15+128.8%	-$0.52-205.9%	-$0.17	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$0.09	$0.12-47.8%	$0.23-50.0%	$0.46-55.3%	$1.03+28.7%	$0.80-57.0%	$1.86+181.8%	$0.66+340.0%	$0.15+128.8%	-$0.52-205.9%	-$0.17	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	64M+6.5%	60M+8.0%	55M+6.8%	52M+0.5%	52M+5.0%	49M+2.2%	48M+8.6%	44M+5.5%	42M+1.5%	41M	N/A	N/A	N/A	N/A	27M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$543.7M+16.9%	$457.3M+9.6%	$469.1M+9.7%	$485.4M+17.9%	$465.3M+23.4%	$417.1M+22.3%	$427.5M+18.9%	$411.6M+16.7%
Cost of Revenue	$364.9M+18.5%	$308.9M+10.2%	$312.8M+9.5%	$315.3M+18.0%	$308.1M+26.4%	$280.5M+21.5%	$285.6M+19.4%	$267.1M+18.0%
Gross Profit	$178.8M+13.7%	$148.4M+8.6%	$156.2M+10.1%	$170.1M+17.7%	$157.3M+17.9%	$136.6M+24.0%	$141.8M+17.8%	$144.5M+14.3%
SG&A Expenses	$63.2M+15.9%	$58.1M+2.9%	$55.9M+7.1%	$57.3M+21.8%	$54.5M+15.6%	$56.5M+27.4%	$52.2M+21.1%	$47.0M+14.2%
Operating Income	$20.0M+3.6%	$4.9M+54.5%	$11.9M-35.9%	$29.4M+20.5%	$19.3M-16.3%	$3.1M-54.0%	$18.5M+38.7%	$24.4M-28.7%
EBITDA	$108.5M+12.7%	$82.8M+11.0%	$91.4M+7.7%	$108.2M+29.5%	$96.3M+22.9%	$74.6M+22.6%	$84.9M+24.9%	$83.6M+2.0%
Interest Expense	$17.9M+14.5%	$15.3M+2.3%	$16.0M+3.2%	$15.9M+1.3%	$15.7M+2.2%	$15.0M-5.7%	$15.5M-2.6%	$15.7M0.0%
Income Tax	-$405K-124.1%	-$3.3M+1.2%	$921K+10.4%	$5.9M+27.0%	$1.7M-55.7%	-$3.3M-88.3%	$834K-70.7%	$4.7M-22.7%
Net Income	$3.8M-27.6%	-$5.5M-15.2%	-$2.5M-151.5%	$10.0M+73.0%	$5.2M-25.7%	-$4.8M-16.8%	$4.9M+369.2%	$5.8M-68.2%
EPS (Basic)	$0.06-25.0%	-$0.09-12.5%	-$0.04-150.0%	$0.16+60.0%	$0.08-33.3%	-$0.08-14.3%	$0.08+300.0%	$0.10-67.7%
EPS (Diluted)	$0.06-25.0%	-$0.09-12.5%	-$0.04-150.0%	$0.16+60.0%	$0.08-33.3%	-$0.08-14.3%	$0.08+300.0%	$0.10-67.7%
Diluted Shares (Avg)	64M+0.2%	64M+0.2%	N/A	64M+7.9%	64M+9.2%	63M+9.2%	N/A	59M+1.5%

Not reported in any period shown, so not listed: R&D Expenses.

CWST Balance Sheet

CWST quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$3.3B+2.3%	$3.2B+27.4%	$2.5B+75.0%	$1.4B+12.9%	$1.3B+7.5%	$1.2B+28.1%	$932.2M+27.3%	$732.4M+19.1%	$614.9M-2.6%	$631.5M-0.3%	$633.7M-3.7%	$658.2M	$660.4M-0.4%	$663.1M+4.6%	$633.7M
Current Assets	$369.3M-39.8%	$613.3M+43.9%	$426.3M+105.5%	$207.5M+41.6%	$146.5M-40.8%	$247.3M+140.5%	$102.8M+5.9%	$97.1M+15.1%	$84.4M+7.4%	$78.6M+2.5%	$76.7M-2.5%	$78.7M	$70.8M+9.7%	$64.5M-4.2%	$67.4M
Cash & Equivalents	$123.8M-65.5%	$358.3M+62.2%	$220.9M+210.5%	$71.2M+110.5%	$33.8M-78.1%	$154.3M+4346.6%	$3.5M-13.4%	$4.0M+100.9%	$2.0M-21.6%	$2.5M+10.0%	$2.3M+4.9%	$2.2M	$3.0M+68.8%	$1.8M-61.3%	$4.5M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$3.5M-0.3%	$3.5M
Accounts Receivable	$178.1M+7.3%	$165.9M+5.5%	$157.3M+55.9%	$100.9M+16.0%	$87.0M+17.2%	$74.2M-7.5%	$80.2M+7.0%	$74.9M+13.6%	$66.0M+7.8%	$61.2M+1.7%	$60.2M+7.9%	$55.8M	$52.6M+8.0%	$48.7M+2.6%	$47.5M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$1.1B+11.8%	$1.0B+36.2%	$735.7M+168.0%	$274.5M+17.9%	$232.9M+19.5%	$194.9M+4.9%	$185.8M+14.2%	$162.7M+32.7%	$122.6M+2.3%	$119.9M+0.8%	$119.0M-0.2%	$119.2M	$119.1M+2.8%	$115.9M+14.0%	$101.7M
Total Liabilities	$1.7B+3.3%	$1.7B+10.9%	$1.5B+59.1%	$951.3M+10.5%	$861.1M+3.5%	$831.8M+2.8%	$809.4M+8.2%	$748.2M+14.6%	$652.8M-0.5%	$656.0M+0.1%	$655.2M-2.3%	$670.5M	$668.8M+2.6%	$651.8M+5.6%	$617.3M
Current Liabilities	$293.9M-4.4%	$307.3M+10.2%	$278.9M+57.0%	$177.6M+16.7%	$152.2M+16.0%	$131.2M+0.5%	$130.6M+17.1%	$111.5M+25.9%	$88.6M+7.5%	$82.4M-3.4%	$85.3M-1.3%	$86.4M	$89.7M+1.9%	$88.1M+8.4%	$81.2M
Non-Current Liabilities	$1.4B+5.0%	$1.4B+11.1%	$1.2B+59.6%	$773.7M+9.1%	$708.9M+1.2%	$700.5M+3.2%	$678.8M+6.6%	$636.7M+12.8%	$564.2M-1.6%	$573.6M+0.7%	$569.8M-2.4%	$584.0M	$579.1M+2.7%	$563.7M+5.2%	$536.1M
Long-Term Debt	$1.1B+3.5%	$1.1B+8.2%	$1.0B+72.2%	$585.0M+7.8%	$542.5M+2.3%	$530.4M+4.2%	$509.0M-6.1%	$542.0M+13.5%	$477.6M-5.2%	$504.0M-0.4%	$506.0M-5.3%	$534.1M	$507.1M+2.5%	$495.0M+4.6%	$473.4M
Total Equity	$1.6B+1.2%	$1.6B+51.8%	$1.0B+105.2%	$497.9M+17.9%	$422.5M+16.7%	$362.1M+195.0%	$122.8M+875.3%	-$15.8M+58.2%	-$37.9M-54.4%	-$24.5M-14.0%	-$21.5M-75.7%	-$12.3M	-$8.4M-174.5%	$11.3M-31.3%	$16.4M
Retained Earnings	-$125.1M+5.9%	-$133.0M+9.2%	-$146.5M+14.8%	-$171.9M+23.6%	-$225.0M+15.4%	-$266.1M+25.5%	-$357.0M+8.1%	-$388.7M+1.6%	-$395.1M-5.8%	-$373.3M-1.9%	-$366.5M-3.7%	-$353.5M	-$347.5M-7.1%	-$324.4M-20.0%	-$270.2M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$3.6B+9.2%	$3.3B+2.0%	$3.3B+2.3%	$3.3B+5.2%	$3.3B+29.7%	$3.2B+29.4%	$3.2B+27.4%	$3.1B+25.0%
Current Assets	$314.6M-32.3%	$359.7M-26.8%	$369.3M-39.8%	$448.0M-39.7%	$464.5M+9.1%	$491.7M+27.6%	$613.3M+43.9%	$743.1M+79.8%
Cash & Equivalents	$25.5M-88.3%	$126.9M-52.6%	$123.8M-65.5%	$192.7M-62.9%	$217.8M+4.4%	$267.7M+41.3%	$358.3M+62.2%	$519.0M+136.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$220.4M+23.2%	$175.4M+5.9%	$178.1M+7.3%	$192.5M+14.5%	$178.9M+10.9%	$165.6M+12.8%	$165.9M+5.5%	$168.1M+19.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$1.4B+26.1%	$1.2B+13.8%	$1.1B+11.8%	$1.1B+22.9%	$1.1B+47.7%	$1.0B+42.5%	$1.0B+36.2%	$907.9M+23.2%
Total Liabilities	$2.0B+16.1%	$1.7B+2.6%	$1.7B+3.3%	$1.7B+7.9%	$1.7B+15.5%	$1.7B+14.3%	$1.7B+10.9%	$1.6B+8.5%
Current Liabilities	$317.0M+15.9%	$260.0M+3.4%	$293.9M-4.4%	$296.5M+1.8%	$273.4M+1.4%	$251.4M+3.0%	$307.3M+10.2%	$291.3M+15.0%
Non-Current Liabilities	$1.7B+16.2%	$1.4B+2.5%	$1.4B+5.0%	$1.4B+9.3%	$1.4B+18.6%	$1.4B+16.6%	$1.4B+11.1%	$1.3B+7.1%
Long-Term Debt	$1.3B+18.2%	$1.1B+1.0%	$1.1B+3.5%	$1.1B+7.4%	$1.1B+14.8%	$1.1B+13.7%	$1.1B+8.2%	$1.0B+3.3%
Total Equity	$1.6B+1.7%	$1.6B+1.4%	$1.6B+1.2%	$1.6B+2.3%	$1.6B+49.8%	$1.5B+50.8%	$1.6B+51.8%	$1.5B+48.6%
Retained Earnings	-$126.9M+4.3%	-$130.7M+5.2%	-$125.1M+5.9%	-$122.6M+11.1%	-$132.6M+7.7%	-$137.8M+8.5%	-$133.0M+9.2%	-$137.9M+4.7%

Not reported in any period shown, so not listed: Inventory.

CWST Cash Flow Statement

CWST quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$351.2M	$329.8M+17.2%	$281.4M+20.7%	$233.1M+7.3%	$217.3M+18.9%	$182.7M+30.6%	$139.9M+19.8%	$116.8M-3.3%	$120.8M+12.4%	$107.5M+33.7%	$80.4M+14.1%	$70.5M	N/A	$49.6M+13.1%	$43.9M-31.6%	$64.2M
Depreciation & Amortization	N/A	$306.8M+30.6%	$234.9M+37.6%	$170.7M+35.1%	$126.4M+22.0%	$103.6M+14.1%	$90.8M+13.8%	$79.8M+13.2%	$70.5M+13.5%	$62.1M+0.4%	$61.9M-1.4%	$62.7M	N/A	$60.3M+6.7%	$56.6M-3.1%	$58.4M
Stock-Based Compensation	N/A	$14.2M+16.7%	$12.2M+34.1%	$9.1M+11.4%	$8.2M-29.4%	$11.6M+40.5%	$8.2M+13.8%	$7.2M-14.5%	$8.4M+31.3%	$6.4M+89.6%	$3.4M+10.2%	$3.1M	N/A	$2.4M-4.5%	$2.5M+35.6%	$1.9M
Capital Expenditures	$245.5M	$245.1M+20.6%	$203.2M+31.2%	$154.9M+18.3%	$131.0M+6.2%	$123.3M+14.0%	$108.1M+4.8%	$103.2M+40.9%	$73.2M+12.9%	$64.9M+19.6%	$54.2M+8.5%	$50.0M	N/A	$43.3M-18.7%	$53.3M-7.9%	$57.8M
Free Cash Flow	$105.7M	$84.7M+8.4%	$78.1M-0.1%	$78.2M-9.5%	$86.4M+45.3%	$59.4M+86.8%	$31.8M+132.8%	$13.7M-71.3%	$47.6M+11.5%	$42.7M+62.9%	$26.2M+27.7%	$20.5M	N/A	$6.3M+167.4%	-$9.4M-247.9%	$6.3M
Investing Cash Flow	-$695.2M	-$469.1M+30.0%	-$670.6M+33.3%	-$1.0B-386.0%	-$206.9M+29.4%	-$293.2M-109.3%	-$140.0M+21.1%	-$177.5M-8.1%	-$164.2M-114.8%	-$76.4M-21.4%	-$63.0M-29.1%	-$48.8M	N/A	N/A	N/A	N/A
Financing Cash Flow	$151.8M	-$27.1M-104.9%	$551.6M-40.2%	$922.3M+3322.4%	$26.9M+366.4%	-$10.1M-106.7%	$151.0M+151.2%	$60.1M+32.4%	$45.4M+243.4%	-$31.6M-70.2%	-$18.6M+14.0%	-$21.6M	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$98.8M+10.3%	$62.3M+24.2%	$96.6M-12.0%	$93.6M+1.9%	$89.5M+24.2%	$50.1M+552.7%	$109.8M+45.8%	$91.8M+23.0%
Depreciation & Amortization	$88.5M+14.9%	$78.0M+9.1%	$79.5M+19.8%	$78.8M+33.2%	$77.0M+39.2%	$71.5M+32.3%	$66.4M+21.5%	$59.2M+24.0%
Stock-Based Compensation	N/A	$2.9M-41.6%	N/A	N/A	N/A	$4.9M+130.0%	N/A	N/A
Capital Expenditures	$72.3M+8.9%	$50.0M-9.9%	$57.3M-25.5%	$65.9M+28.1%	$66.4M+48.7%	$55.5M+83.4%	$76.9M+19.1%	$51.5M+28.8%
Free Cash Flow	$26.5M+14.5%	$12.3M+329.3%	$39.3M+19.5%	$27.6M-31.5%	$23.1M-15.8%	-$5.4M+76.3%	$32.9M+206.7%	$40.4M+16.4%
Investing Cash Flow	-$378.3M-175.0%	-$144.2M+9.2%	-$64.4M+77.5%	-$108.3M+65.2%	-$137.6M-220.5%	-$158.8M-428.4%	-$286.0M-317.6%	-$311.7M+8.3%
Financing Cash Flow	$178.2M+4468.6%	-$8.0M-70.6%	-$7.9M-119.6%	-$10.4M-102.0%	-$4.1M+55.6%	-$4.7M+48.1%	$40.5M+627.0%	$529.4M+2373.1%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

CWST Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CWST quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	33.8%-0.3pp	34.0%-0.2pp	34.2%+0.8pp	33.4%-1.1pp	34.5%+1.1pp	33.4%+1.9pp	31.6%+0.2pp	31.4%-1.0pp	32.4%0.0pp	32.4%+2.4pp	30.0%	N/A	28.7%-0.3pp	29.1%-3.0pp	32.0%
Operating Margin	3.5%-1.2pp	4.7%-1.7pp	6.4%-2.4pp	8.8%+0.1pp	8.7%+1.1pp	7.7%+0.5pp	7.1%+1.1pp	6.0%+8.1pp	-2.1%-10.1pp	8.0%+2.1pp	5.8%	N/A	2.4%-0.3pp	2.7%+5.1pp	-2.4%
Net Margin	0.4%-0.4pp	0.9%-1.1pp	2.0%-2.9pp	4.9%+0.3pp	4.6%-7.1pp	11.8%+7.5pp	4.3%+3.3pp	1.0%+4.6pp	-3.6%-2.4pp	-1.2%+1.2pp	-2.4%	N/A	-4.6%+7.3pp	-11.9%+4.7pp	-16.6%
Return on Equity	0.5%-0.4pp	0.9%-1.6pp	2.5%-8.2pp	10.7%+0.9pp	9.7%-15.4pp	25.2%-0.6pp	25.8%	N/A	N/A	N/A	N/A	N/A	N/A	-479.8%-7.6pp	-472.2%
Return on Assets	0.2%-0.2pp	0.4%-0.6pp	1.0%-2.7pp	3.7%+0.5pp	3.2%-4.4pp	7.6%+4.2pp	3.4%+2.5pp	0.9%+4.4pp	-3.5%-2.5pp	-1.1%+1.0pp	-2.1%+2.1pp	-4.2%	-3.5%+4.7pp	-8.2%+4.1pp	-12.2%
Current Ratio	1.26-0.7x	2.00+0.5x	1.53+0.4x	1.17+0.2x	0.96-0.9x	1.88+1.1x	0.79-0.1x	0.87-0.1x	0.950.0x	0.95+0.1x	0.900.0x	0.91	0.79+0.1x	0.73-0.1x	0.83
Debt-to-Equity	0.720.0x	0.70-0.3x	0.99-0.2x	1.18-0.1x	1.28-0.2x	1.46-2.7x	4.15	N/A	N/A	N/A	N/A	N/A	N/A	43.86+15.1x	28.81
Asset Turnover	0.56+0.1x	0.480.0x	0.50-0.3x	0.75+0.1x	0.690.0x	0.65-0.1x	0.80-0.1x	0.90-0.1x	0.97+0.1x	0.890.0x	0.86	N/A	0.75+0.1x	0.69-0.1x	0.74
FCF Margin	4.6%-0.4pp	5.0%-1.2pp	6.2%-1.8pp	8.0%+1.3pp	6.7%+2.6pp	4.1%+2.3pp	1.8%-5.4pp	7.2%+0.1pp	7.1%+2.5pp	4.6%+0.9pp	3.8%	N/A	1.3%+3.3pp	-2.1%-3.4pp	1.4%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	32.9%-0.9pp	32.5%-0.3pp	33.3%+0.1pp	35.0%-0.1pp	33.8%-1.6pp	32.8%+0.4pp	33.2%-0.3pp	35.1%-0.7pp
Operating Margin	3.7%-0.5pp	1.1%+0.3pp	2.5%-1.8pp	6.0%+0.1pp	4.1%-2.0pp	0.8%-1.3pp	4.3%+0.6pp	5.9%-3.8pp
Net Margin	0.7%-0.4pp	-1.2%-0.1pp	-0.5%-1.7pp	2.1%+0.7pp	1.1%-0.7pp	-1.1%+0.1pp	1.1%+1.6pp	1.4%-3.8pp
Return on Equity	0.2%-0.1pp	-0.4%0.0pp	-0.2%-0.5pp	0.6%+0.3pp	0.3%-0.3pp	-0.3%+0.1pp	0.3%+0.5pp	0.4%-1.4pp
Return on Assets	0.1%-0.1pp	-0.2%0.0pp	-0.1%-0.2pp	0.3%+0.1pp	0.2%-0.1pp	-0.1%0.0pp	0.1%+0.2pp	0.2%-0.5pp
Current Ratio	0.99-0.7x	1.38-0.6x	1.26-0.7x	1.51-1.0x	1.70+0.1x	1.96+0.4x	2.00+0.5x	2.55+0.9x
Debt-to-Equity	0.84+0.1x	0.720.0x	0.720.0x	0.720.0x	0.72-0.2x	0.72-0.2x	0.70-0.3x	0.68-0.3x
Asset Turnover	0.150.0x	0.140.0x	0.140.0x	0.150.0x	0.140.0x	0.130.0x	0.130.0x	0.130.0x
FCF Margin	4.9%-0.1pp	2.7%+4.0pp	8.4%+0.7pp	5.7%-4.1pp	5.0%-2.3pp	-1.3%+5.3pp	7.7%+4.7pp	9.8%0.0pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Casella Waste Systems Inc CWST	FY2025	$1.8B	$7.9M	0.4%	$5.3B	47/100
Clean Harbors, Inc CLH	FY2025	$6.0B	$391.0M	6.5%	$16.8B	60/100
Enviri Corporation NVRI	FY2025	$2.2B	-$167.6M	-7.5%	$557.9M	25/100
Waste Connections, Inc. WCN	FY2025	$9.5B	$1.1B	11.4%	$38.9B	53/100
Montrose Environmental Group, Inc. MEG	FY2025	$830.5M	-$843K	-0.1%	$800.8M	41/100

Where Casella Waste Systems Inc Ranks

Frequently Asked Questions

What is Casella Waste Systems Inc's annual revenue?

Casella Waste Systems Inc (CWST) reported $1.8B in total revenue for fiscal year 2025. This represents a 18.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Casella Waste Systems Inc's revenue growing?

Casella Waste Systems Inc (CWST) revenue grew by 18.0% year-over-year, from $1.6B to $1.8B in fiscal year 2025.

Is Casella Waste Systems Inc profitable?

Yes, Casella Waste Systems Inc (CWST) reported a net income of $7.9M in fiscal year 2025, with a net profit margin of 0.4%.

What is Casella Waste Systems Inc's EBITDA?

Casella Waste Systems Inc (CWST) had EBITDA of $370.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Casella Waste Systems Inc have?

As of fiscal year 2025, Casella Waste Systems Inc (CWST) had $123.8M in cash and equivalents against $1.1B in long-term debt.

What is Casella Waste Systems Inc's gross margin?

Casella Waste Systems Inc (CWST) had a gross margin of 33.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Casella Waste Systems Inc's operating margin?

Casella Waste Systems Inc (CWST) had an operating margin of 3.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Casella Waste Systems Inc's net profit margin?

Casella Waste Systems Inc (CWST) had a net profit margin of 0.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Casella Waste Systems Inc's return on equity (ROE)?

Casella Waste Systems Inc (CWST) has a return on equity of 0.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Casella Waste Systems Inc's free cash flow?

Casella Waste Systems Inc (CWST) generated $84.7M in free cash flow during fiscal year 2025. This represents a 8.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Casella Waste Systems Inc's operating cash flow?

Casella Waste Systems Inc (CWST) generated $329.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Casella Waste Systems Inc's total assets?

Casella Waste Systems Inc (CWST) had $3.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Casella Waste Systems Inc's capital expenditures?

Casella Waste Systems Inc (CWST) invested $245.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Casella Waste Systems Inc's current ratio?

Casella Waste Systems Inc (CWST) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.

What is Casella Waste Systems Inc's debt-to-equity ratio?

Casella Waste Systems Inc (CWST) had a debt-to-equity ratio of 0.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Casella Waste Systems Inc's return on assets (ROA)?

Casella Waste Systems Inc (CWST) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Casella Waste Systems Inc's P/E ratio?

Casella Waste Systems Inc (CWST) trades at 935x earnings, its market capitalization divided by net income of $5.7M net income, trailing 12 months to June 30, 2026. The market capitalization is $5.3B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Casella Waste Systems Inc's price-to-sales ratio?

Casella Waste Systems Inc (CWST) trades at 2.7x sales, its market capitalization divided by revenue of $2.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $5.3B as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Casella Waste Systems Inc's Altman Z-Score?

Casella Waste Systems Inc (CWST) has an Altman Z-Score of 2.44, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Casella Waste Systems Inc's Piotroski F-Score?

Casella Waste Systems Inc (CWST) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Casella Waste Systems Inc's earnings high quality?

Casella Waste Systems Inc (CWST) reported $7.9M of net income while generating $329.8M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Casella Waste Systems Inc cover its interest payments?

Casella Waste Systems Inc (CWST) has an interest coverage ratio of 1.02x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Casella Waste Systems Inc?

Casella Waste Systems Inc (CWST) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.