CASELLA WASTE SYSTEMS INC CWST
Casella Waste Systems, Inc. is a regional, vertically integrated solid waste services company. We provide resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services.
We provide integrated solid waste services with operating locations in eleven states: Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine, Pennsylvania, Delaware, New Jersey, Maryland and West Virginia, with our headquarters located in Rutland, Vermont. We manage our solid waste operations on a geographic basis through three regional operating segments, the Eastern, Western and Mid-Atlantic regions, each of which provides a comprehensive range of non-hazardous solid waste services. We manage our resource renewal operations through the Resource Solutions operating segment, which leverages our core competencies in materials processing, industrial recycling, organics and resource management service offerings to deliver a comprehensive solution for our larger commercial, municipal, institutional and industrial customers that have more diverse waste and recycling needs. Legal, tax, information technology, human resources, certain finance and accounting and other administrative functions are included in our Corporate Entities segment.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.84B | $1.56B | $1.26B | $1.09B | $889.2M | $774.6M | $743.3M | $660.7M | $599.3M | $565.0M |
| Cost of revenue | $1.22B | $1.03B | $832.0M | $723.1M | $582.4M | $515.6M | $508.7M | $453.3M | $405.2M | $382.0M |
| Gross profit | $620.2M | $529.9M | $432.5M | $362.0M | $306.8M | $258.9M | $234.6M | $207.4M | $194.1M | $183.1M |
| SG&A | $224.2M | $190.8M | $155.8M | $133.4M | $118.8M | $102.4M | $92.8M | $84.8M | $79.2M | $75.4M |
| Total operating expenses | $1.77B | $1.48B | $1.18B | $989.7M | $811.6M | $715.3M | $690.2M | $620.9M | $611.9M | $520.1M |
| Operating income | $63.7M | $72.8M | $80.4M | $95.4M | $77.7M | $59.3M | $53.1M | $39.7M | -$12.6M | $44.9M |
| Interest expense | $62.5M | $62.4M | $47.6M | $23.7M | $21.2M | $22.4M | $25.1M | $26.3M | $25.2M | $38.9M |
| Pre-tax income | $13.1M | $21.0M | $37.0M | $75.0M | $58.0M | $38.3M | $29.8M | $6.0M | -$37.1M | -$6.4M |
| Income tax | $5.2M | $7.5M | $11.6M | $21.9M | $16.9M | $52.8M | $1.9M | $384.0K | $15.3M | $494.0K |
| Net income | $7.9M | $13.5M | $25.4M | $53.1M | $41.1M | $91.1M | $31.7M | $6.4M | -$21.8M | -$6.8M |
| EPS, basic | 0.12 | 0.23 | 0.46 | 1.03 | 0.80 | 1.87 | 0.67 | 0.15 | -0.52 | -0.17 |
| EPS, diluted | 0.12 | 0.23 | 0.46 | 1.03 | 0.80 | 1.86 | 0.66 | 0.15 | -0.52 | -0.17 |
| Shares, diluted (wtd. avg.) | $63.6M | $59.7M | $55.3M | $51.8M | $51.5M | $49.0M | $48.0M | $44.2M | $41.8M | $41.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $123.8M | $358.3M | $220.9M | $71.2M | $33.8M | $154.3M | $3.5M | $4.0M | $2.0M | $2.5M |
| Receivables | $178.1M | $165.9M | $157.3M | $100.9M | $87.0M | $74.2M | $80.2M | $74.9M | $66.0M | $61.2M |
| Total current assets | $369.3M | $613.3M | $426.3M | $207.5M | $146.5M | $247.3M | $102.8M | $97.1M | $84.4M | $78.6M |
| Property, plant and equipment | — | — | — | — | — | — | — | $404.6M | $361.5M | $398.5M |
| Goodwill | $1.12B | $1.00B | $735.7M | $274.5M | $232.9M | $194.9M | $185.8M | $162.7M | $122.6M | $119.9M |
| Other intangibles | $290.9M | $313.5M | $241.4M | $91.8M | $93.7M | $58.3M | $58.7M | $34.8M | $8.1M | $7.7M |
| Total assets | $3.30B | $3.23B | $2.54B | $1.45B | $1.28B | $1.19B | $932.2M | $732.4M | $614.9M | $631.5M |
| Accounts payable | $102.5M | $111.1M | $116.8M | $74.2M | $63.1M | $49.2M | $64.4M | $57.3M | $47.1M | $45.0M |
| Total current liabilities | $293.9M | $307.3M | $278.9M | $177.6M | $152.2M | $131.2M | $130.6M | $111.5M | $88.6M | $82.4M |
| Retained earnings | -$125.1M | -$133.0M | -$146.5M | -$171.9M | -$225.0M | -$266.1M | -$357.0M | -$388.7M | -$395.1M | -$373.3M |
| Total equity | $1.57B | $1.55B | $1.02B | $497.9M | $422.5M | $362.1M | $122.8M | -$15.8M | -$37.9M | -$24.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $329.8M | $281.4M | $233.1M | $217.3M | $182.7M | $139.9M | $116.8M | $120.8M | $107.5M | $80.4M |
| Depreciation and amortisation | $306.8M | $234.9M | $170.7M | $126.4M | $103.6M | $90.8M | $79.8M | $70.5M | $62.1M | $61.9M |
| Stock-based compensation | $14.2M | $12.2M | $9.1M | $8.2M | $11.6M | $8.2M | $7.2M | $8.4M | $6.4M | $3.4M |
| Capital expenditure | $245.1M | $203.2M | $154.9M | $131.0M | $123.3M | $108.1M | $103.2M | $73.2M | $64.9M | $54.2M |
| Investing cash flow | -$469.1M | -$670.6M | -$1.01B | -$206.9M | -$293.2M | -$140.0M | -$177.5M | -$164.2M | -$76.4M | -$63.0M |
| Financing cash flow | -$27.1M | $551.6M | $922.3M | $26.9M | -$10.1M | $151.0M | $60.1M | $45.4M | -$31.6M | -$18.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-161565.
Others in SIC 4953
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|---|---|---|---|---|
| WM | WASTE MANAGEMENT INC | $87.53B | 32.7x | 14.2% |
| RSG | REPUBLIC SERVICES, INC. | $68.20B | 32.5x | 3.5% |
| WCN | Waste Connections, Inc. | $41.56B | 39.5x | 6.1% |
| QRHC | Quest Resource Holding Corp | $29.1M | — | -13.3% |
| AWX | AVALON HOLDINGS CORP | $8.6M | — | -0.3% |
| VIVK | Vivakor, Inc. | $6.7M | — | 16.3% |
| RENX | RenX Enterprises Corp. | $5.2M | — | 3,860.7% |
| OIO | OIO Group | — | — | — |