Casella Waste Systems, Inc. (CWST) Financial Ratios
29 years of historical data (1997–2025) · Industrials · Waste Management
EV/EBITDA
↓
15.98
↓-20% vs avg
5yr avg: 19.88
30Y Low5.1·High23.8
P/FCF
↓
64.30
-4% vs avg
5yr avg: 67.23
30Y Low6.1·High161.6
P/B Ratio
↓
3.52
↓-44% vs avg
5yr avg: 6.26
30Y Low0.4·High18.0
ROE
↓
0.5%
↑-91% vs avg
5yr avg: 5.4%
30Y Low-461%·High68%
Debt/EBITDA
↑
3.02
↓-4% vs avg
5yr avg: 3.15
30Y Low2.2·High8.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CWST Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Casella Waste Systems, Inc. trades at 724.8x earnings, 120% above its 5-year average of 329.2x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 2734%. On a free-cash-flow basis, the stock trades at 64.3x P/FCF, roughly in line with the 5-year average of 67.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.4B | $6.2B | $6.3B | $4.7B | $4.1B | $4.4B | $3.0B | $2.2B | $1.3B | $963M | $512M |
| Enterprise Value | $6.6B | $7.3B | $7.1B | $5.6B | $4.7B | $5.0B | $3.5B | $2.8B | $1.8B | $1.4B | $1.0B |
| P/E Ratio → | 724.83 | 816.17 | 460.04 | 185.78 | 77.00 | 106.77 | 33.31 | 69.74 | 189.93 | — | — |
| P/S Ratio | 2.97 | 3.39 | 4.05 | 3.74 | 3.78 | 4.95 | 3.92 | 2.97 | 1.90 | 1.61 | 0.91 |
| P/B Ratio | 3.52 | 3.97 | 4.06 | 4.62 | 8.25 | 10.42 | 8.39 | 17.99 | — | — | — |
| P/FCF | 64.30 | 73.50 | 80.68 | 60.42 | 47.54 | 74.03 | 95.50 | 161.58 | 31.31 | 27.18 | 27.01 |
| P/OCF | 16.52 | 18.88 | 22.40 | 20.27 | 18.89 | 24.08 | 21.71 | 18.90 | 10.41 | 8.96 | 6.36 |
P/E links to full P/E history page with 30-year chart
CWST EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Casella Waste Systems, Inc.'s enterprise value stands at 16.0x EBITDA, 20% below its 5-year average of 19.9x. The Industrials sector median is 13.8x, placing the stock at a 15% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.00 | 4.58 | 4.45 | 4.33 | 5.60 | 4.52 | 3.76 | 2.72 | 2.41 | 1.80 |
| EV / EBITDA | 15.98 | 17.87 | 20.32 | 18.62 | 18.77 | 23.83 | 21.40 | 18.07 | 13.03 | 11.19 | 8.38 |
| EV / EBIT | 73.58 | 101.89 | 95.02 | 71.83 | 46.94 | 59.29 | 61.44 | 51.50 | 55.02 | — | 30.40 |
| EV / FCF | — | 86.66 | 91.24 | 71.90 | 54.43 | 83.82 | 110.07 | 204.76 | 44.76 | 40.74 | 53.72 |
CWST Profitability
Margins and return-on-capital ratios measuring operating efficiency
Casella Waste Systems, Inc. earns an operating margin of 4.9%, roughly in line with the Industrials sector average. Operating margins have compressed from 8.4% to 4.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 0.5% is modest, trailing the sector median of 8.2%. ROIC of 2.6% represents below-average returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.1% | 17.1% | 18.9% | 20.7% | 21.7% | 22.9% | 21.7% | 20.8% | 20.7% | 22.0% | 21.5% |
| Operating Margin | 4.9% | 4.9% | 6.7% | 8.4% | 9.4% | 9.5% | 8.5% | 7.9% | 7.9% | 8.8% | 8.1% |
| Net Profit Margin | 0.4% | 0.4% | 0.9% | 2.0% | 4.9% | 4.6% | 11.8% | 4.3% | 1.0% | -3.6% | -1.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.5% | 0.5% | 1.1% | 3.3% | 11.5% | 10.5% | 37.6% | 59.2% | — | — | — |
| ROA | 0.2% | 0.2% | 0.5% | 1.3% | 3.9% | 3.3% | 8.6% | 3.8% | 1.0% | -3.5% | -1.1% |
| ROIC | 2.6% | 2.6% | 3.6% | 5.3% | 7.3% | 6.9% | 6.4% | 7.1% | 8.1% | 8.6% | 7.1% |
| ROCE | 2.9% | 2.9% | 4.0% | 6.0% | 8.5% | 7.7% | 7.1% | 8.2% | 9.1% | 9.8% | 8.4% |
CWST Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Casella Waste Systems, Inc. carries a Debt/EBITDA ratio of 3.0x, which is moderately leveraged (7% below the sector average of 3.2x). Net debt stands at $1.1B ($1.2B total debt minus $124M cash). Interest coverage of just 1.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.79 | 0.79 | 0.78 | 1.09 | 1.34 | 1.46 | 1.71 | 4.83 | — | — | — |
| Debt / EBITDA | 3.02 | 3.02 | 3.44 | 3.71 | 2.66 | 2.95 | 3.78 | 3.83 | 3.94 | 3.74 | 4.19 |
| Net Debt / Equity | — | 0.71 | 0.53 | 0.88 | 1.19 | 1.38 | 1.28 | 4.81 | — | — | — |
| Net Debt / EBITDA | 2.72 | 2.72 | 2.35 | 2.97 | 2.37 | 2.78 | 2.83 | 3.81 | 3.91 | 3.72 | 4.17 |
| Debt / FCF | — | 13.17 | 10.56 | 11.48 | 6.88 | 9.80 | 14.57 | 43.17 | 13.44 | 13.56 | 26.71 |
| Interest Coverage | 1.22 | 1.22 | 1.39 | 1.90 | 3.98 | 3.23 | 3.05 | 2.21 | 1.23 | -0.45 | 0.86 |
CWST Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.26x means Casella Waste Systems, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.53x to 1.26x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 2.00 | 1.53 | 1.17 | 0.96 | 1.88 | 0.79 | 0.87 | 0.95 | 0.95 |
| Quick Ratio | 1.17 | 1.17 | 1.93 | 1.46 | 1.09 | 0.90 | 1.82 | 0.73 | 0.81 | 0.88 | 0.89 |
| Cash Ratio | 0.42 | 0.42 | 1.25 | 0.79 | 0.40 | 0.22 | 1.18 | 0.03 | 0.04 | 0.02 | 0.03 |
| Asset Turnover | — | 0.54 | 0.47 | 0.50 | 0.75 | 0.69 | 0.65 | 0.80 | 0.90 | 0.97 | 0.89 |
| Inventory Turnover | 62.55 | 62.55 | 58.60 | 56.15 | 63.05 | 70.51 | 77.08 | 76.63 | 80.07 | 71.52 | 90.30 |
| Days Sales Outstanding | — | 35.38 | 41.06 | 46.30 | 33.94 | 35.70 | 35.07 | 40.00 | 42.65 | 40.49 | 39.95 |
CWST Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Casella Waste Systems, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.1% | 0.1% | 0.2% | 0.5% | 1.3% | 0.9% | 3.0% | 1.4% | 0.5% | — | — |
| FCF Yield | 1.6% | 1.4% | 1.2% | 1.7% | 2.1% | 1.4% | 1.0% | 0.6% | 3.2% | 3.7% | 3.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $64M | $60M | $55M | $52M | $52M | $49M | $48M | $44M | $42M | $41M |
Peer Comparison
Compare CWST with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CWSTYou | $5B | 724.8 | 16.0 | 64.3 | 17.1% | 4.9% | 0.5% | 2.6% | 3.0 |
 WM | $87B | 32.0 | 14.6 | 30.7 | 29.1% | 18.3% | 29.7% | 10.7% | 3.1 |
 RSG | $63B | 29.9 | 12.1 | 26.2 | 42.0% | 20.0% | 18.3% | 13.5% | 0.1 |
 WCN | $39B | 36.8 | 16.4 | 31.6 | 39.0% | 18.1% | 13.4% | 7.7% | 3.2 |
 USPH | $964M | 44.6 | 13.2 | 15.8 | 20.1% | 10.3% | 2.0% | 5.6% | 4.1 |
 CLH | $15B | 39.6 | 16.0 | 34.8 | 29.5% | 11.2% | 14.7% | 9.8% | 3.1 |
 CAT | $459B | 52.4 | 36.5 | 44.6 | 32.3% | 16.6% | 43.5% | 15.9% | 3.2 |
 PCAR | $63B | 26.4 | 14.1 | 20.7 | 16.2% | 10.4% | 12.9% | 12.2% | — |
 CMI | $99B | 35.0 | 21.0 | 41.5 | 25.3% | 11.5% | 23.0% | 16.1% | 1.6 |
 NFBK | $602M | 727.8 | 63.2 | 11.5 | 35.3% | 9.3% | 0.1% | 0.8% | 39.6 |
 IIPR | $2B | 15.2 | 10.3 | 9.7 | 88.7% | 46.7% | 6.0% | 4.3% | 2.0 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 29 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
CWST — Frequently Asked Questions
Quick answers to the most common questions about buying CWST stock.
What is Casella Waste Systems, Inc.'s P/E ratio?
Casella Waste Systems, Inc.'s current P/E ratio is 724.8x. The historical average is 71.1x. This places it at the 100th percentile of its historical range.
What is Casella Waste Systems, Inc.'s EV/EBITDA?
Casella Waste Systems, Inc.'s current EV/EBITDA is 16.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
What is Casella Waste Systems, Inc.'s ROE?
Casella Waste Systems, Inc.'s return on equity (ROE) is 0.5%. The historical average is -34.3%.
Is CWST stock overvalued?
Based on historical data, Casella Waste Systems, Inc. is trading at a P/E of 724.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Casella Waste Systems, Inc.'s profit margins?
Casella Waste Systems, Inc. has 17.1% gross margin and 4.9% operating margin.
How much debt does Casella Waste Systems, Inc. have?
Casella Waste Systems, Inc.'s Debt/EBITDA ratio is 3.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.