Waste Connections (FRA:UI51) E10: €2.35 (As of Mar. 2026)


FRA:UI51 Waste Connections Inc FRA:UI51
81 GF Score
Price €146.68
GF Value €173.23
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Waste Connections E10?

Waste Connections FRA:UI51 +5.03% 81 E10 is €2.35 as of Mar. 2026. GuruFocus rates FRA:UI51 with a GF Score™ of 81/100 and a GF Value™ of €173.23 (Modestly Undervalued). The stock has 2 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Waste Connections's adjusted earnings per share data for the three months ended in Mar. 2026 was €0.744. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €2.35 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Waste Connections's average E10 Growth Rate was 24.90% per year. During the past 3 years, the average E10 Growth Rate was 14.40% per year. During the past 5 years, the average E10 Growth Rate was 15.10% per year. During the past 10 years, the average E10 Growth Rate was 13.20% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Waste Connections was 17.30% per year. The lowest was 1.80% per year. And the median was 11.55% per year.

As of today (2026-06-26), Waste Connections's current stock price is €146.68. Waste Connections's E10 for the quarter that ended in Mar. 2026 was €2.35. Waste Connections's Shiller PE Ratio of today is 62.42.

During the past 13 years, the highest Shiller PE Ratio of Waste Connections was 98.94. The lowest was 54.99. And the median was 78.58.


Waste Connections  (FRA:UI51) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Waste Connections's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=146.68/2.35
=62.42

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Waste Connections was 98.94. The lowest was 54.99. And the median was 78.58.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Waste Connections E10 Related Terms


Waste Connections E10 Historical Data

* Premium members only.

The historical data trend for Waste Connections's E10 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.

Waste Connections E10 Chart

Waste Connections Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.27 1.65 1.76 1.99 2.26

Waste Connections Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
E10 Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.99 1.94 2.19 2.26 2.35

FRA:UI51 vs CLH, RSG, GFL: E10 Comparison

For the Waste Management subindustry, Waste Connections's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio vs Waste Management Industry

For the Waste Management industry and Industrials sector, Waste Connections's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Waste Connections's Shiller PE Ratio falls into.


FRA:UI51
81GF Score
Waste Connections Inc FRA:UI51
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Waste Connections E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Waste Connections's adjusted earnings per share data for the three months ended in Mar. 2026 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.744/132.2623*132.2623
=0.744

Current CPI (Mar. 2026) = 132.2623.

Waste Connections Quarterly Data

per share eps CPI Adj_EPS
201606 0.116 102.002 0.150
201609 0.303 101.765 0.394
201612 0.310 101.449 0.404
201703 0.056 102.634 0.072
201706 0.418 103.029 0.537
201709 0.394 103.345 0.504
201712 1.006 103.345 1.287
201803 0.381 105.004 0.480
201806 0.445 105.557 0.558
201809 0.488 105.636 0.611
201812 0.439 105.399 0.551
201903 0.425 106.979 0.525
201906 0.496 107.690 0.609
201909 0.545 107.611 0.670
201912 0.450 107.769 0.552
202003 0.489 107.927 0.599
202006 -0.764 108.401 -0.932
202009 0.509 108.164 0.622
202012 0.411 108.559 0.501
202103 0.512 110.298 0.614
202106 0.564 111.720 0.668
202109 0.374 112.905 0.438
202112 0.566 113.774 0.658
202203 0.627 117.646 0.705
202206 0.823 120.806 0.901
202209 0.929 120.648 1.018
202212 0.708 120.964 0.774
202303 0.719 122.702 0.775
202306 0.748 124.203 0.797
202309 0.834 125.230 0.881
202312 0.449 125.072 0.475
202403 0.819 126.258 0.858
202406 0.994 127.522 1.031
202409 1.072 127.285 1.114
202412 -0.726 127.364 -0.754
202503 0.860 129.181 0.881
202506 0.971 129.892 0.989
202509 0.946 130.287 0.960
202512 0.863 130.366 0.876
202603 0.744 132.262 0.744

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of €2.35 mean?
Waste Connections (FRA:UI51) has a E10 of €2.35 as of Mar. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Waste Connections and its competitors.
Is Waste Connections' E10 too high?
Waste Connections' current E10 is €2.35. Overall, Waste Connections has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Waste Connections' E10 compare to CLH and RSG?
Waste Connections' E10 of €2.35 can be compared against companies in the Waste Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Waste Management company?
A good E10 depends on the Waste Management industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on Waste Connections and its competitors. Waste Connections's current E10 is €2.35. 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 €173.23, compared to a current price of €146.68 — trading 15.3% below its estimated fair value. The current E10 is €2.35. Waste Connections' overall GF Score™ is 81/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For Waste Connections (FRA:UI51), the current E10 is €2.35 as of Mar. 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 €146.68 is trading 15.3% below its estimated GF Value™ of €173.23. GuruFocus considers Waste Connections to be Modestly Undervalued.

Key valuation signals for FRA:UI51:

  • E10: €2.35
  • GF Value™: €173.23 vs. price of €146.68 (15.3% below fair value)
  • GF Score™: 81/100 with 2 warning signs

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 Business Description

Address 6220 Highway 7, Suite 600, Woodbridge, Vaughan, ON, CAN, L4H 4G3
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.
81GF Score

Get the complete analysis for FRA:UI51

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€146.68
Price
€173.23
GF Value