Utilities • Environmental Services
$181.97 ▲ +2.21
(+1.23%)
MKT CAP: $45.52B • VOL: 1.71M
52W L $147 52W H $188
WCN // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>)
SOURCE: SEC FORM 10-K ITEM 1 & 1A
01 // UPSTREAM SUPPLIERS & FOUNDRIES
TSM <GO>
CRITICAL
Upstream Foundry & Infrastructure Partners
FOUNDRY / INFRA • Core Fabrication & Cloud Compute
EST. COGS / CAPEX SHARE 24%
EVIDENCE: Form 10-K Item 1A Supply Concentration
ASML <GO>
HIGH
Precision Equipment & Subsystem Vendors
SUPPLIER • Capital Equipment & Tooling
EST. COGS / CAPEX SHARE 14%
EVIDENCE: Form 10-K Note 12 Purchase Commitments
CORE VALUE-CHAIN HUB NYSE
WCN // Waste Connections Inc.
GROSS MARGIN
42.4%
OP MARGIN
18.1%
ROIC %
9.9%
MKT CAP
$45.52B
UPSTREAM INPUTS ──► WCN OPERATING ENGINE ──► CUSTOMER REVENUE
03 // DOWNSTREAM REVENUE CUSTOMERS
MSFT <GO>
REV SHARE: ~19%
Hyperscale & Enterprise Cloud Accounts
CUSTOMER • Enterprise Infrastructure
EVIDENCE: Form 10-K Segment & Major Customer Footnote
AMZN <GO>
REV SHARE: ~13%
Global Commercial & Distribution Channels
CUSTOMER • Commercial Distribution
EVIDENCE: Form 10-K Geographic & Channel Breakdown
DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX
LIVE DB CROSS-COMPARISON
| TICKER | COMPANY | LAST | MKT CAP | GROSS MGN | OP MGN | ROIC % | EV/EBITDA | REV YOY | HEAD-TO-HEAD |
|---|---|---|---|---|---|---|---|---|---|
| WCN ★ | Waste Connections Inc. | $181.97 | $45.52B | 42.4% | 18.1% | 9.9% | 18.8x | +6.1% | SUBJECT ISSUER |
| NEE | NextEra Energy, Inc. | $83.71 | $175.57B | — | 31.8% | 4.3% | 26.6x | +7.5% | WCN VS NEE <GO> |
| SO | Southern Company (The) | $93.71 | $106.97B | 41.0% | 24.7% | 6.9% | 8.5x | +10.6% | WCN VS SO <GO> |
| DUK | Duke Energy Corporation (Holding Company) | $127.39 | $98.16B | 41.0% | 31.4% | 5.2% | 8.7x | +3.3% | WCN VS DUK <GO> |
| CEG | Constellation Energy Corporation Common Stock | $262.38 | $93.74B | 41.0% | 13.6% | 13.4% | 17.4x | +19.5% | WCN VS CEG <GO> |
| WM | Waste Management Inc. | $233.45 | $91.81B | 40.4% | 17.1% | 13.7% | 20.2x | +14.2% | WCN VS WM <GO> |