CASELLA WASTE SYSTEMS INC CWST

Utilities SIC 4953 - Refuse Systems NAICS Administrative and Support and Waste Management and Remediation Services › Waste Management and Remediation Services › Waste Treatment and Disposal derived Nasdaq

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.

Last close 97.61 2026-10-23
Market cap $6.21B estimated share count
52-week range 74.05 - 107.96

Valuation FY2025 figures against the last close

P/S3.4x
P/E813.4x
P/FCF73.3x
EV/EBITDA16.8x
Dividend yield—
Diluted EPS0.12

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Solid Waste Operations
  • Resource Solutions
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Solid Waste Operations, FY2025: 1.5B (80.4%) 80% Solid Waste Operations Resource Solutions, FY2025: 360M (19.6%) 20% Resource Solutions FY2024 Solid Waste Operations, FY2024: 1.2B (78.8%) 79% Resource Solutions, FY2024: 329.9M (21.2%) 21% FY2023 Solid Waste Operations, FY2023: 971.7M (76.8%) 77% Resource Solutions, FY2023: 292.8M (23.2%) 23%
Segment FY2025FY2024FY2023
Solid Waste Operations $1.48B $1.23B $971.7M
Resource Solutions $360.0M $329.9M $292.8M

As the company reported it, from the “SEGMENT REPORTING - Summary of Revenue Attributable to Services Provided by Company (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 0.120.230.461.030.801.870.670.15-0.52-0.17
EPS, diluted 0.120.230.461.030.801.860.660.15-0.52-0.17
Shares, diluted (wtd. avg.) 63.6M59.7M55.3M51.8M51.5M49.0M48.0M44.2M41.8M41.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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 FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
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.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B 2B Revenue, FY2016: 565M Gross profit, FY2016: 183.1M Net income, FY2016: -6.8M Revenue, FY2017: 599.3M Gross profit, FY2017: 194.1M Net income, FY2017: -21.8M Revenue, FY2018: 660.7M Gross profit, FY2018: 207.4M Net income, FY2018: 6.4M Revenue, FY2019: 743.3M Gross profit, FY2019: 234.6M Net income, FY2019: 31.7M Revenue, FY2020: 774.6M Gross profit, FY2020: 258.9M Net income, FY2020: 91.1M Revenue, FY2021: 889.2M Gross profit, FY2021: 306.8M Net income, FY2021: 41.1M Revenue, FY2022: 1.1B Gross profit, FY2022: 362M Net income, FY2022: 53.1M Revenue, FY2023: 1.3B Gross profit, FY2023: 432.5M Net income, FY2023: 25.4M Revenue, FY2024: 1.6B Gross profit, FY2024: 529.9M Net income, FY2024: 13.5M Revenue, FY2025: 1.8B Gross profit, FY2025: 620.2M Net income, FY2025: 7.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $565.0M $599.3M $660.7M $743.3M $774.6M $889.2M $1.09B $1.26B $1.56B $1.84B
Gross profit $183.1M $194.1M $207.4M $234.6M $258.9M $306.8M $362.0M $432.5M $529.9M $620.2M
Net income -$6.8M -$21.8M $6.4M $31.7M $91.1M $41.1M $53.1M $25.4M $13.5M $7.9M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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OIO OIO Group — — —