CASELLA WASTE SYSTEMS INC · Refuse Systems

CWST

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The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 17% in the latest quarter vs a year ago
Profitable
Sales up 18% last year

Watch out for

Share count growing 7.1% a year

Money moves

No insider buying or selling in the last 30 days
Institutions added 3.6% to their holdings in the quarter ending June 2026 (227 bought, 175 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$96.18-1.4% that day

Company value: $6.1B; Share price times all shares
Price vs sales: 3.1x; No profit over the last year, so this compares value with sales instead
Cash vs value: 0%; Cash as a share of company value
Debt vs value: 18%; Debt as a share of company value

From CWST's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$543.7M+17% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $2.0B, up 14% from the 12 months before. Over 5 years, sales grew about 19% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of CWST. Starting points are the company's recent numbers.

Sales growth+14% a yearRecently: +14% a yearProfit margin1%Last 12 months: 0.3%P/E at the end15xMany steady companies trade at 12x to 25xShare count change+8% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$3.8B

Profit in 5 years$38M

Price these guesses point to$6.04-94% vs $96.18 todayAbout -43% a year, before dividends

What today's price needs: with a 1% margin and a 15x P/E, sales would have to grow about 98% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

1/6Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.0.5%
MissDebt under half of equityNot relying on borrowed money.0.72x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.0.4%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$84.7M
MissShare count not growingNot diluting owners. Falling means buybacks.+22.8% in 3 years

Revenue: $1.8B; +18.0% vs prior year
5-year growth: +18.9%/yr; revenue, per year
Total debt: $1.1B; 0.72x equity
Current ratio: 1.26x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.