COMPARE · Reviewed August 3, 2026
WCN vs WM
Verdict: Side-by-side breakdown using the Bull Rankings model. WCN scored 55.4, WM scored 52.5 — WCN leads.
Compare another set
WCN
Waste Connections, Inc.
55.4
$166.30 · $41.9B
fundamentals as of
Score gap
2.9
WCN leads
WM
Waste Management, Inc.
52.5
$225.30 · $90.1B
fundamentals as of
The model, pillar by pillar (0–100 each)
WCN
stronger →← stronger
WM
64
Qualityreturns · margins · balance sheet
80
76
Growthrevenue & earnings expansion
65
35
Valuevaluation vs sector peers
28
WCN is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
WCN
WM
$1.2bC+
FCF
$3.6bB
+5.7%C+
Rev
+7.2%B
1.22C
D/E
2.35D
40.3xC+
P/E
59.3xC
2.71C
PEG
2.31C
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
WCN
WM
97% above
Price vs fair valuelower is cheaper
39% above
~24%/yr
Growth the price implies10-yr FCF · lower = less priced in
~16%/yr
-54%
1-yr DCF upside
-36%
-49%
5-yr DCF upside
-28%
-42%
10-yr DCF upside
-14%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
WCN
Why this score
- Buying back stock
- Raising its dividend
WM
Why this score
- Raising its dividend
- Durable high returns
The companies
WCNWaste Connections, Inc.
Why now
Waste Management · market cap $41.9b. 13% off the 52-week high of $191.00. 25 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $200.76 (implying +21% upside).
Moat
ROE 13% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. FCF converts 116% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Trailing P/E 40x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates.
WMWaste Management, Inc.
Why now
Waste Management · market cap $90.1b. 9% off the 52-week high of $248.13. 25 sell-side analysts rate this a Buy with a mean 1-yr target of $260.64 (implying +16% upside).
Moat
ROE 29% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 125% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined. $90.1b market cap gives the company enough scale to absorb fixed costs that subscale competitors can't, without yet being so large that growth has to come from acquisition.
Risk
D/E 2.35 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Trailing P/E 59.3x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.