Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Waste ConnectionsFRA:UI51 -0.08%82 Debt-to-EBITDA is 3.00 as of Jun. 2026, which is 3% below its 10-year median of 3.10. GuruFocus rates FRA:UI51 with a GF Score™ of 82/100 and a GF Value™ of €173.56 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 170 Waste Management companies, Waste Connections ranks worse than 52.94% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Waste Connections's Debt-to-EBITDA or its related term are showing as below:
FRA:UI51'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.73 Med: 3.1 Max: 4.19
Current: 3.2
During the past 13 years, the highest Debt-to-EBITDA Ratio of Waste Connections was 4.19. The lowest was 2.73. And the median was 3.10.
FRA:UI51's Debt-to-EBITDA is ranked worse than 52.94% of 170
companies
in the Waste Management industry
Industry Median: 3.03
vs FRA:UI51: 3.20
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Waste Connections Debt-to-EBITDA Related Terms
Waste Connections Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Waste Connections's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:UI51 vs RSG, CLH, GFL: Debt-to-EBITDA Comparison
For the Waste Management subindustry, Waste Connections's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Waste Connections Debt-to-EBITDA vs Waste Management Industry
For the Waste Management industry and Industrials sector, Waste Connections's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Waste Connections's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Jun. 2026) EBITDA data.
Waste Connections (FRA:UI51) has a Debt-to-EBITDA of 3.00 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Waste Connections. This is near median its historical median of 3.10. Over the past decade, Waste Connections' Debt-to-EBITDA has ranged from 2.73 to 4.19. According to the industry distribution chart, Waste Connections ranks #90 out of 170 companies in the Waste Management industry, placing it in the top 52.9%.
Is Waste Connections' Debt-to-EBITDA too high?
Waste Connections' current Debt-to-EBITDA of 3.00 is near median its 10-year median of 3.10. Over the past 10 years, this metric has ranged from a low of 2.73 to a high of 4.19. The Waste Management industry median Debt-to-EBITDA is 3.03. Waste Connections' value of 3.00 is 1% below this industry median. Based on the distribution chart, Waste Connections ranks #90 out of 170 companies in the Waste Management industry, which is below the industry midpoint. Overall, Waste Connections has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Waste Connections' Debt-to-EBITDA compare to RSG and CLH?
According to the Waste Management industry distribution chart, Waste Connections ranks #90 out of 170 companies for Debt-to-EBITDA. This places Waste Connections in the lower half of its industry. The industry median Debt-to-EBITDA is 3.03. Waste Connections' value of 3.00 is 1% below this benchmark. Historically, Waste Connections' own Debt-to-EBITDA has ranged from 2.73 to 4.19 over the past decade. While the company's 10-year median is 3.10 vs. the industry median of 3.03, Waste Connections has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Waste Management company?
The median Debt-to-EBITDA among Waste Management companies is 3.03, based on 170 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Waste Connections's current Debt-to-EBITDA of 3.00 is 1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Waste Connections. For the Waste Management industry, the median Debt-to-EBITDA is 3.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Waste Connections's current Debt-to-EBITDA is 3.00, which is near median its own 10-year median of 3.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Waste Connections stock overvalued right now?
Based on GuruFocus' analysis, Waste Connections (FRA:UI51) is currently considered Modestly Undervalued. The stock's GF Value™ is €173.56, compared to a current price of €147.46 — trading 15% below its estimated fair value. The current Debt-to-EBITDA is 3.00, which is near median its 10-year median of 3.10 and 1% below the Waste Management industry median of 3.03. Waste Connections' overall GF Score™ is 82/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Waste Connections (FRA:UI51), the current Debt-to-EBITDA is 3.00 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Waste Connections (FRA:UI51) Overvalued in 2026?
Based on GuruFocus' analysis, Waste Connections stock appears to be undervalued.
The current stock price of €147.46 is trading 15% below its estimated GF Value™ of €173.56.
GuruFocus considers Waste Connections to be Modestly Undervalued.
Key valuation signals for FRA:UI51:
Debt-to-EBITDA: 3.00 (near median its 10-year median of 3.10)
GF Value™: €173.56 vs. price of €147.46 (15% below fair value)
Industry Position: 1% below the Waste Management median (#90 of 170)
No single metric tells the full story. See the FRA:UI51 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Waste Connections is a North American waste management company focused on integrated waste collection services. The firm primarily focuses on residential, commercial, municipal, and industrial waste collection, with a secondary market focus on rural areas. With 113 landfills and 222 transfer stations as of 2024, it is the third-largest waste management company by revenue. Revenue is split among six operating segments: Western, Southern, Eastern, Central, Canada, and Midsouth.
82GF Score
Get the complete analysis for FRA:UI51
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:UI51 has been successfully added to your 
