Casella Waste Systems, Inc. (CWST) Stock Price & Analysis
Casella Waste Systems, Inc. (CWST) closed at USD 96.89 on Thursday, October 22, 2026, up 7.39% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 96.89; the Oct 22, 2026 session ranged USD 90.86–97.27 on volume of 927,195 shares. Market capitalization is —, with a 52-week range of USD 74.05–107.96 (NMS). Source: Nexqual, retrieved October 23, 2026 at 10:01 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CWST.md
Key facts (CWST)
- Last four reported quarters (through Jun 30, 2026): revenue $1.96B, net income $5.7M (0.3% margin), free cash flow $106M (SEC filings).
- Valuation: P/E 1081.0x (avg 481.1x at the last 3 fiscal year-ends), EV/EBITDA 19.2x, net debt $1.33B.
- Earnings quality: non-operating income -$57.2M vs operating income $66.1M over the last four quarters; P/E excluding non-operating income ≈143.7x (estimate: non-operating income taxed at the company's 35% effective rate).
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $3.0M; 5 not under a Rule 10b5-1 plan ($3.0M); 0 by opportunistic insiders, 2 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.45 on a 1–5 scale) (11 analysts), mean target USD 106.5 (range 91–130).
- Total return with dividends: 1Y +6.7% vs S&P 500 +14.9%; 5Y +15.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-09, EPS estimate USD 0.38, revenue estimate $563M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CWST)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $889M | $1.09B | $1.26B | $1.56B | $1.84B | $1.96B |
| Gross profit | $307M | $362M | $433M | $530M | $620M | — |
| Operating income | $77.7M | $95.4M | $80.4M | $72.8M | $63.7M | $66.1M |
| Net income | $41.1M | $53.1M | $25.4M | $13.5M | $7.9M | $5.7M |
| EPS (diluted) | $0.80 | $1.03 | $0.46 | $0.23 | $0.12 | — |
| Free cash flow | $59.4M | $86.4M | $78.2M | $78.1M | $84.7M | $106M |
| Gross margin | 34.5% | 33.4% | 34.2% | 34.0% | 33.8% | — |
| Operating margin | 8.7% | 8.8% | 6.4% | 4.7% | 3.5% | 3.4% |
| Net margin | 4.6% | 4.9% | 2.0% | 0.9% | 0.4% | 0.3% |
| Revenue growth | +14.8% | +22.0% | +16.5% | +23.1% | +18.0% | — |
| Cash + short-term investments | $33.8M | $71.2M | $221M | $383M | $124M | — |
| Total debt | $552M | $594M | $1.04B | $1.13B | $1.15B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CWST)
P/E 1081.0x · P/E ex non-operating (est.) ≈143.7x · P/S 3.1x · EV/EBITDA 19.2x · EV/Sales 3.8x · P/FCF 58.4x · P/B 3.9x · FCF yield 1.71% · Earnings yield 0.09% · Net debt $1.33B · EV $7.49B
P/E at fiscal year-ends: Dec 2025 790.9x, Dec 2024 466.5x, Dec 2023 186.0x.
Insider sales (SEC Form 4, open-market, last ~7 months) (CWST)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-03 | Burke Michael K | Director | 1,100 | $105K | 7.5% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-26 | Burke Michael K | Director | 1,100 | $102K | 6.9% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-08-13…2026-08-14 | Casella Douglas R | VICE CHAIRMAN, BD OF DIRECTORS | 16,500 | $1.5M | 3.5% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-05-26 | Burke Michael K | Director | 2,305 | $202K | 14.1% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-19 | Coletta Edmond | PRESIDENT & CEO | 12,500 | $1.1M | 8.2% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CWST)
Consensus Buy (mean 2.45 on a 1–5 scale), 11 analysts; mean target USD 106.5 (low 91, high 130).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | JP Morgan | Target raised | Neutral | $91 → $99 |
| 2026-10-21 | UBS | Downgrade | Buy → Neutral | $122 → $95 |
| 2026-10-08 | JP Morgan | Target lowered | Neutral | $105 → $91 |
| 2026-08-10 | JP Morgan | Target lowered | Neutral | $110 → $105 |
| 2026-08-10 | Barclays | Target raised | Overweight | $102 → $104 |
| 2026-06-26 | UBS | Target lowered | Buy | $130 → $122 |
Total return (dividends reinvested) (CWST)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +6.7% | +15.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +6.7% | +3.0% |
| Volatility (annualized) | 36.9% | 26.6% |
| Max drawdown | -30.2% (Feb 2026→Mar 2026) | -36.7% (May 2025→Mar 2026) |
CWST revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Solid waste | $442.2M | 81.3% | +18.4% |
| — Western Region (part of Solid waste) | $185.7M | 34.2% | +9.2% |
| — Eastern Region (part of Solid waste) | $154.2M | 28.4% | +27.5% |
| — Mid Atlantic Region (part of Solid waste) | $102.2M | 18.8% | +23.8% |
| Resource Solutions | $101.6M | 18.7% | +10.7% |
| Total revenue | $543.7M | 100% | — |
CWST revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Solid waste | $442.2M | 81.3% | +18.4% |
| — Collection (part of Solid waste) | $355.0M | 65.3% | +19.2% |
| — Disposal (part of Solid waste) | $77.1M | 14.2% | +17.9% |
| — Landfill Revenue (part of Solid waste) | $9.2M | 1.7% | +16.4% |
| Collection | $114.7M | 21.1% | +28.4% |
| — Resource Solutions (part of Collection) | $101.6M | 18.7% | +10.7% |
| — Transportation (part of Collection) | $5.9M | 1.1% | -3.4% |
| — Processing (part of Collection) | $2.6M | 0.5% | +2.4% |
| — Processing Services (part of Collection) | $2.3M | 0.4% | +8.2% |
| — Transportation (part of Collection) | $1.9M | 0.4% | +9.4% |
| — Landfill Gas To Energy (part of Collection) | $349,000 | 0.1% | +19.5% |
| Processing | $52.9M | 9.7% | +5.5% |
| Transfer Station | $25.7M | 4.7% | +31.9% |
| Landfill gas-to-energy | $1.4M | 0.3% | -8.3% |
| Total revenue | $543.7M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CWST suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | UPS (UPS) | “This competition comes from other waste management companies as well as other employers who hire drivers and maintain fleets, such as companies that provide courier delivery services, including United Parcel Service, Inc., FedEx Corporation and Amazon, as well as from a tightening labor market.” |
| Competitor | FedEx (FDX) | “This competition comes from other waste management companies as well as other employers who hire drivers and maintain fleets, such as companies that provide courier delivery services, including United Parcel Service, Inc., FedEx Corporation and Amazon, as well as from a tightening labor market.” |
| Competitor | Amazon (AMZN) | “This competition comes from other waste management companies as well as other employers who hire drivers and maintain fleets, such as companies that provide courier delivery services, including United Parcel Service, Inc., FedEx Corporation and Amazon, as well as from a tightening labor market.” |
Quoted from the company's 10-K filed Feb 20, 2026.
CWST company outlook (results filed Aug 6, 2026)
- “The Company reaffirmed guidance for fiscal year 2026 by estimating results in the following ranges: • Adjusted EBITDA between $473 million and $483 million; • Net cash provided by operating activities between $370 million and $380 million; and • Adjusted Free Cash Flow between $200 million and $210 million.”
- “Adjusted EBITDA and Adjusted Free Cash Flow related to fiscal year 2026 are described in the Unaudited Reconciliation of Fiscal Year 2026 Outlook Non-GAAP Measures section of this press release.”
Quoted word-for-word from the SEC 8-K results press release.
CWST analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.38 | $0.40 | -4.3% | $562.9M | 11 |
| Next quarter (ends Dec 2026) | $0.26 | $0.27 | -0.5% | $539.1M | 11 |
| Current fiscal year (ends Dec 2026) | $1.25 | $1.16 | +7.5% | $2.10B | 11 |
| Next fiscal year (ends Dec 2027) | $1.43 | $1.50 | -5.2% | $2.26B | 11 |
Key Statistics (as of October 23, 2026 at 10:01 UTC)
| Price | USD 96.89 |
|---|---|
| Change | ▲ 7.39% (up) |
| Previous Close | USD 96.89 |
| Open | USD 96.89 |
| Day Range | USD 90.86 – 97.27 |
| 52-Week Range | USD 74.05 – 107.96 |
| Volume | 927,195 shares |
| Market Cap | — |
| Exchange | NMS |
Technical Analysis (CWST)
Nexqual's technical model rates CWST "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 10:01 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 64.98 (neutral) |
| vs SMA50 | Above (USD 88.5) |
| MACD | 1.18 (positive) |
Analyst Ratings (CWST)
Wall Street analysts rate CWST "Buy" based on 11 analysts, with a mean price target of USD 106.5 (range USD 91–130), per Nexqual as of October 23, 2026 at 10:01 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 11 |
| Mean Target | USD 106.5 |
| High Target | USD 130 |
| Low Target | USD 91 |
| Buy / Hold / Sell | 7 / 3 / 1 |
Earnings (CWST)
| Next Earnings Date | 2026-11-09 |
|---|---|
| EPS Estimate | USD 0.38 |
| Revenue Estimate | $562.89M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.4 vs est 0.29 ▲ beat |
| 2026-03-31 | USD 0.2 vs est 0.12 ▲ beat |
| 2025-12-31 | USD 0.3 vs est 0.22 ▲ beat |
| 2025-09-30 | USD 0.42 vs est 0.32 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:01 UTC.
Financials & Fundamentals (CWST)
| Total Revenue | $1.96B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +16.90% |
| Gross Margin | +33.42% |
| Operating Margin | +4.99% |
| Profit Margin | +0.29% |
| ROE | +0.36% |
| Debt / Equity | 0.92 |
| Current Ratio | 0.99 |
| Total Cash | $27.77M |
| Total Debt | $1.45B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $105.67M (5.4% of revenue) |
Source: Nexqual, October 23, 2026 at 10:01 UTC.
Financial Health Score (CWST)
Nexqual rates Casella Waste Systems, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:01 UTC.
| Growth | Strong — Revenue +18% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 33%, operating 5% (last 12 months) |
| Balance Sheet | Weak — $26M cash and investments vs $1.35B debt (Jun 2026, SEC) |
| Cash Flow | Solid — FCF $106M (last 4 quarters to Jun 2026, SEC), 5% margin |
| Efficiency | Weak — ROE 0%, ROA 1.7% |
Ownership (CWST)
| Insider Ownership | +0.56% |
|---|---|
| Institutional Ownership | +125.76% |
| Shares Outstanding | 62.65M |
| Float | 62.26M |
| Short % of Float | +10.83% |
Source: Nexqual, October 23, 2026 at 10:01 UTC.
From Casella Waste Systems, Inc.'s Latest SEC 10-K Filing (filed 2026-02-20)
Key Strengths & Strategy (as disclosed to the SEC)
- We have acquired 76 solid waste collection, transfer and recycling businesses since the beginning of 2018 through fiscal year 2025 with over $925 million of total annualized revenues.
- In fiscal year 2025, we processed and/or marketed over 1.4 million tons of recyclable materials, including tons marketed through our National Accounts business commodity brokerage division and our baling facilities located throughout our footprint.
- Casella Waste Systems, Inc. is a regional, vertically integrated solid waste services company.
- We manage our solid waste operations, which are vertically integrated and include a full range of solid waste services, on a geographic basis through three regional operating segments, which we designate as the Eastern, Western and Mid-Atlantic regions.
Partnerships
- Wastes classified as hazardous waste are subject to more extensive regulation than wastes classified as non-hazardous, and businesses that deal with hazardous waste are subject to regulatory obligations in addition to those imposed on businesses that deal with non-hazardous waste.
- From a technology perspective, we continue to advance business intelligence tools that provide our teams with actionable data, as well as investment in and deployment of on-board-computers and cameras designed to enhance safety and service and modernize our fleet.
Legal & Regulatory Risks (Item 1A, quoted)
- The increasing focus on PFAS and other emerging contaminants may lead to increased compliance and remediation costs and litigation risks, which could adversely impact our financial condition and results of operations.
- We may be adversely affected by market responses to our sustainability practices and may not be effective in mitigating the risks associated with sustainability expectations and related emerging regulations, or in reducing the potential for losses in connection with such risks.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| GFL | GFL Environmental Inc. Subordin | USD 44.14 | ▲ 1.52% |
| CLH | Clean Harbors, Inc. | USD 320.96 | ▲ 0.53% |
| WCN | Waste Connections, Inc. | USD 184.88 | ▲ 9.86% |
| OIO | OIO Group | USD 1.87 | ▲ 1.08% |
| NVRI | Enviri Corporation | USD 19.15 | ▼ 4.25% |
| ONT | Onterris, Inc. | USD 14.64 | ▲ 4.95% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:01 UTC. This page is informational and not investment advice.
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