Casella Waste Systems, Inc. (CWST) Stock Analysis
Industrials · Waste Management · NasdaqGS
Casella Waste Systems, Inc. (CWST) posted $1.84B in revenue for fiscal 2025 (up 18.0% year over year), at a 0.4% net margin, and has compounded revenue about 18.9%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Casella Waste Systems, Inc.
Casella Waste Systems, Inc. has grown revenue from $565.03M to $1.84B over the last 10 fiscal years, compounding about 18.9% a year. The most recent year was up 18%, roughly in line with its longer-run pace.
Net margin sits at 0.4%, down 0.5 points year over year on a 33.8% gross margin.
At today's valuation the market is pricing in roughly 24.5% annual free-cash-flow growth — versus the 21.6% it actually delivered over the last five years, broadly in line with what it has delivered. The one thing worth a second look in the filings is net margin shrinking.
Synthesised from Casella Waste Systems, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Casella Waste Systems, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $565.03M | $599.31M | $660.66M | $743.29M | $774.58M | $889.21M | $1.09B | $1.26B | $1.56B | $1.84B |
| Gross profit | $183.06M | $194.12M | $207.37M | $234.63M | $258.94M | $306.81M | $361.97M | $432.50M | $529.95M | $620.24M |
| Net income | $-6.85M | $-21.80M | $6.42M | $31.65M | $91.11M | $41.10M | $53.08M | $25.40M | $13.54M | $7.87M |
| Net margin | -1.2% | -3.6% | 1.0% | 4.3% | 11.8% | 4.6% | 4.9% | 2.0% | 0.9% | 0.4% |
Source: Casella Waste Systems, Inc. SEC filings (10-K). 19 years of history available in the interactive view.
Casella Waste Systems, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Net margin shrinkingNet margin fell from 4.9% to 0.4% over ~3 years — profitability is compressing.
What growth is priced into CWST stock?
At today's market cap of $5.76B, Casella Waste Systems, Inc. is priced for free-cash-flow growth of about 24.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $84.70M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 21.6%/yr over the last five fiscal years and revenue 18.9%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 19 years of Casella Waste Systems, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Casella Waste Systems, Inc. financial history by metric
Compare Casella Waste Systems, Inc. with peers
About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. The company offers resource management expertise and services primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services to residential, commercial, municipal, institutional, and industrial customers. It also provides non-hazardous solid waste services, including collections, transfer stations, recycling, and disposal operations. In addition, the company markets various materials, including fibers, such as corrugated cardboard and newsprint, plastics, glass, ferrous, and aluminum metals. Casella Waste Systems, Inc. was founded in 1975 and is headquartered in Rutland, Vermont.
Casella Waste Systems, Inc. — frequently asked questions
What is Casella Waste Systems, Inc.'s revenue?
Casella Waste Systems, Inc. (CWST) reported revenue of $1.84B for fiscal year 2025, up 18.0% from the prior year, according to its SEC filings.
Is Casella Waste Systems, Inc. profitable?
Yes. CWST earned net income of $7.87M in fiscal 2025, a net margin of 0.4%.
What is CWST's P/E ratio?
Casella Waste Systems, Inc. trades at a price-to-earnings ratio of about 823.5 based on the latest data in our nightly-refreshed cache.
How fast is Casella Waste Systems, Inc. growing?
CWST's revenue grew at roughly 18.9% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Casella Waste Systems, Inc. have?
As of fiscal year 2025, CWST carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Casella Waste Systems, Inc.'s gross margin?
CWST's gross margin was 33.8% in fiscal 2025 — gross profit of $620.24M on revenue of $1.84B.
What is Casella Waste Systems, Inc.'s market cap?
Casella Waste Systems, Inc. (CWST) has a market capitalization of about $5.76B, based on the latest data in our nightly-refreshed cache.
When does Casella Waste Systems, Inc.'s fiscal year end?
CWST's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into CWST stock?
At today's market cap of $5.76B, Casella Waste Systems, Inc. is priced for free-cash-flow growth of about 24.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $84.70M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 21.6%/yr over the last five fiscal years and revenue 18.9%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Casella Waste Systems, Inc.'s official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.