📊 CWST Key Takeaways
Investment Thesis
Casella Waste demonstrates solid operational cash generation with $329.8M operating cash flow supporting modest free cash flow of $84.7M, but profitability deterioration is concerning with net income declining 41.9% YoY and net margins contracting to 0.4%. The company maintains adequate leverage ratios and liquidity, but weak earnings quality and flat revenue growth signal operational headwinds that require resolution.
CWST Strengths
- Strong operating cash flow generation of $329.8M provides financial flexibility despite low net margins
- Reasonable leverage profile with 0.72x debt-to-equity and 4.0x interest coverage ratio indicates manageable debt servicing capability
- Adequate liquidity with 1.26x current ratio and $123.8M cash balance supports operational needs and capital allocation
- Meaningful free cash flow of $84.7M after $245.1M capex demonstrates underlying business cash generation capability
CWST Risks
- Significant profitability deterioration with net income down 41.9% YoY and diluted EPS down 47.8% YoY indicates serious operational challenges
- Extremely low net margin of 0.4% combined with stagnant revenue growth (flat YoY) suggests pricing pressure or cost inflation in refuse systems market
- Weak returns on equity (0.5%) and assets (0.2%) indicate poor capital efficiency despite substantial $3.3B asset base and $1.6B equity
- Heavy capital intensity requiring $245.1M annual capex to maintain operations leaves limited margin for error in cash flow generation
Key Metrics to Watch
- Net income recovery trajectory and operating margin expansion in subsequent quarters
- Revenue growth acceleration from current 0.0% YoY to demonstrate market demand strength
- Operating cash flow sustainability and free cash flow conversion rate above 4.6% FCF margin
- Return on assets improvement from current 0.2% to demonstrate capital efficiency gains
CWST Financial Metrics
💡 AI Analyst Insight
The relatively thin 4.6% FCF margin may limit capital allocation flexibility.
CWST Profitability Ratios
CWST vs Default Sector
How CASELLA WASTE SYSTEMS INC compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
CWST Balance Sheet & Liquidity
CWST 5-Year Financial Trend
5-Year Trend Summary: CASELLA WASTE SYSTEMS INC's revenue has grown significantly by 107% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.46 reflects profitable operations.
CWST Growth Metrics (YoY)
CWST Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $411.6M | -$4.1M | $0.10 |
| Q2 2025 | $377.2M | $398.0K | $0.01 |
| Q1 2025 | $341.0M | -$4.1M | $-0.07 |
| Q3 2024 | $352.7M | $3.5M | $0.10 |
| Q2 2024 | $289.6M | $2.9M | $0.05 |
| Q1 2024 | $262.6M | $3.5M | $0.07 |
| Q3 2023 | $295.3M | $3.5M | $0.31 |
| Q2 2023 | $283.7M | $3.5M | $0.10 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
CWST Capital Allocation
CWST SEC Filings
Access official SEC EDGAR filings for CASELLA WASTE SYSTEMS INC (CIK: 0000911177)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Mar 17, 2026 | 4 | xslF345X05/wk-form4_1773778811.xml | View → |
| Mar 16, 2026 | 4 | xslF345X05/wk-form4_1773694490.xml | View → |
| Mar 16, 2026 | 4 | xslF345X05/wk-form4_1773694461.xml | View → |
| Mar 16, 2026 | 4 | xslF345X05/wk-form4_1773694432.xml | View → |
| Mar 16, 2026 | 4 | xslF345X05/wk-form4_1773694409.xml | View → |
❓ Frequently Asked Questions about CWST
What is the AI rating for CWST?
CASELLA WASTE SYSTEMS INC (CWST) has an AI rating of HOLD with 62% confidence, based on fundamental analysis of SEC EDGAR filings.
What are CWST's key strengths?
Strong operating cash flow generation of $329.8M provides financial flexibility despite low net margins. Reasonable leverage profile with 0.72x debt-to-equity and 4.0x interest coverage ratio indicates manageable debt servicing capability.
What are the risks of investing in CWST?
Significant profitability deterioration with net income down 41.9% YoY and diluted EPS down 47.8% YoY indicates serious operational challenges. Extremely low net margin of 0.4% combined with stagnant revenue growth (flat YoY) suggests pricing pressure or cost inflation in refuse systems market.
What is CWST's revenue and growth?
CASELLA WASTE SYSTEMS INC reported revenue of $1.8B.
Does CWST pay dividends?
CASELLA WASTE SYSTEMS INC does not currently pay dividends.
Where can I find CWST SEC filings?
Official SEC filings for CASELLA WASTE SYSTEMS INC (CIK: 0000911177) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is CWST's EPS?
CASELLA WASTE SYSTEMS INC has a diluted EPS of $0.12.
How is the AI analysis conducted?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.