Waste ConnectionsFRA:UI51 -0.24%81 PB Ratio is 5.09 as of Jun. 25, 2026, which is 12% above its 10-year median of 4.54. GuruFocus rates FRA:UI51 with a GF Score™ of 81/100 and a GF Value™ of €164.60 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 230 Waste Management companies, Waste Connections ranks worse than 88.7% on this metric.
The historical rank and industry rank for Waste Connections's PB Ratio or its related term are showing as below:
FRA:UI51'
s PB Ratio Range Over the Past 10 Years
Min: 2.25 Med: 4.54 Max: 6.38
Current: 5.25
During the past 13 years, Waste Connections's highest PB Ratio was 6.38. The lowest was 2.25. And the median was 4.54.
FRA:UI51's PB Ratio is ranked worse than 88.7% of 230
companies
in the Waste Management industry
Industry Median: 1.61
vs FRA:UI51: 5.25
During the past 12 months, Waste Connections's average Book Value Per Share Growth Rate was 2.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 5.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 4.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 7.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Waste Connections was 31.40% per year. The lowest was 1.70% per year. And the median was 11.30% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Waste Connections PB Ratio Related Terms
Waste Connections PB Ratio Historical Data
* Premium members only.
The historical data trend for Waste Connections's PB Ratio 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.
For the Waste Management subindustry, Waste Connections's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Waste Management Industry
For the Waste Management industry and Industrials sector, Waste Connections's PB Ratio distribution charts can be found below:
* The bar in red indicates where Waste Connections's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Waste Connections (FRA:UI51) has a PB Ratio of 5.09 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Waste Connections and its competitors. This is 12% above median its historical median of 4.54. Over the past decade, Waste Connections' PB Ratio has ranged from 2.25 to 6.38. According to the industry distribution chart, Waste Connections ranks #204 out of 230 companies in the Waste Management industry, placing it in the top 88.7%.
Is Waste Connections' PB Ratio too high?
Waste Connections' current PB Ratio of 5.09 is 12% above median its 10-year median of 4.54. Over the past 10 years, this metric has ranged from a low of 2.25 to a high of 6.38. The Waste Management industry median PB Ratio is 1.61. Waste Connections' value of 5.09 is 216.1% above this industry median. Based on the distribution chart, Waste Connections ranks #204 out of 230 companies in the Waste Management industry, which is in the bottom quartile relative to peers. 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' PB Ratio compare to CLH and RSG?
According to the Waste Management industry distribution chart, Waste Connections ranks #204 out of 230 companies for PB Ratio. This places Waste Connections in the lower half of its industry. The industry median PB Ratio is 1.61. Waste Connections' value of 5.09 is 216.1% above this benchmark. Historically, Waste Connections' own PB Ratio has ranged from 2.25 to 6.38 over the past decade. While the company's 10-year median is 4.54 vs. the industry median of 1.61, Waste Connections has consistently been above 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 PB Ratio for a Waste Management company?
The median PB Ratio among Waste Management companies is 1.61, based on 230 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Waste Connections's current PB Ratio of 5.09 is 216.1% above 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Waste Connections and its competitors. For the Waste Management industry, the median PB Ratio is 1.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Waste Connections's current PB Ratio is 5.09, which is 12% above median its own 10-year median of 4.54. 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 €164.60, compared to a current price of €139.66 — trading 15.2% below its estimated fair value. The current PB Ratio is 5.09, which is 12% above median its 10-year median of 4.54 and 216.1% above the Waste Management industry median of 1.61. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Waste Connections (FRA:UI51), the current PB Ratio is 5.09 as of Jun. 25, 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 €139.66 is trading 15.2% below its estimated GF Value™ of €164.60.
GuruFocus considers Waste Connections to be Modestly Undervalued.
Key valuation signals for FRA:UI51:
PB Ratio: 5.09 (12% above median its 10-year median of 4.54)
GF Value™: €164.60 vs. price of €139.66 (15.2% below fair value)
Industry Position: 216.1% above the Waste Management median (#204 of 230)
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.
81GF Score
Get the complete analysis for FRA:UI51
PB Ratio 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 
