Waste ConnectionsMEX:WCNN +6.82%87 ROC (Joel Greenblatt) % is 16.44% as of Mar. 2026, which is 2% above its 10-year median of 16.09. GuruFocus rates MEX:WCNN with a GF Score™ of 87/100 and a GF Value™ of MXN3,445.03 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 249 Waste Management companies, Waste Connections ranks better than 69.48% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Waste Connections's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.44%.
The historical rank and industry rank for Waste Connections's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:WCNN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 7.46 Med: 16.09 Max: 20.15
Current: 19.63
During the past 13 years, Waste Connections's highest ROC (Joel Greenblatt) % was 20.15%. The lowest was 7.46%. And the median was 16.09%.
MEX:WCNN's ROC (Joel Greenblatt) % is ranked better than 69.48% of 249
companies
in the Waste Management industry
Industry Median: 10.91
vs MEX:WCNN: 19.63
Waste Connections's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 13.10% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Waste Connections ROC (Joel Greenblatt) % Related Terms
Waste Connections ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Waste Connections's ROC (Joel Greenblatt) % 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.
MEX:WCNN vs CLH, RSG, GFL: ROC (Joel Greenblatt) % Comparison
For the Waste Management subindustry, Waste Connections's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Waste Management Industry
For the Waste Management industry and Industrials sector, Waste Connections's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Waste Connections's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 16.44% mean?
Waste Connections (MEX:WCNN) has a ROC (Joel Greenblatt) % of 16.44% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Waste Connections and its competitors. This is near median its historical median of 16.09. Over the past decade, Waste Connections' ROC (Joel Greenblatt) % has ranged from 7.46 to 20.15. According to the industry distribution chart, Waste Connections ranks #76 out of 249 companies in the Waste Management industry, placing it in the top 30.5%.
Is Waste Connections' ROC (Joel Greenblatt) % too high?
Waste Connections' current ROC (Joel Greenblatt) % of 16.44% is near median its 10-year median of 16.09. Over the past 10 years, this metric has ranged from a low of 7.46 to a high of 20.15. The Waste Management industry median ROC (Joel Greenblatt) % is 10.91. Waste Connections' value of 16.44% is 50.7% above this industry median. Based on the distribution chart, Waste Connections ranks #76 out of 249 companies in the Waste Management industry, which is above the industry midpoint. Overall, Waste Connections has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Waste Connections' ROC (Joel Greenblatt) % compare to CLH and RSG?
According to the Waste Management industry distribution chart, Waste Connections ranks #76 out of 249 companies for ROC (Joel Greenblatt) %. This puts Waste Connections in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 10.91. Waste Connections' value of 16.44% is 50.7% above this benchmark. Historically, Waste Connections' own ROC (Joel Greenblatt) % has ranged from 7.46 to 20.15 over the past decade. While the company's 10-year median is 16.09 vs. the industry median of 10.91, 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 ROC (Joel Greenblatt) % for a Waste Management company?
The median ROC (Joel Greenblatt) % among Waste Management companies is 10.91, based on 249 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Waste Connections's current ROC (Joel Greenblatt) % of 16.44% is 50.7% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Waste Connections and its competitors. For the Waste Management industry, the median ROC (Joel Greenblatt) % is 10.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Waste Connections's current ROC (Joel Greenblatt) % is 16.44%, which is near median its own 10-year median of 16.09. 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 (MEX:WCNN) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN3,445.03, compared to a current price of MXN2,800.00 — trading 18.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 16.44%, which is near median its 10-year median of 16.09 and 50.7% above the Waste Management industry median of 10.91. Waste Connections' overall GF Score™ is 87/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Waste Connections (MEX:WCNN), the current ROC (Joel Greenblatt) % is 16.44% 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 (MEX:WCNN) Overvalued in 2026?
Based on GuruFocus' analysis, Waste Connections stock appears to be undervalued.
The current stock price of MXN2,800.00 is trading 18.7% below its estimated GF Value™ of MXN3,445.03.
GuruFocus considers Waste Connections to be Modestly Undervalued.
Key valuation signals for MEX:WCNN:
ROC (Joel Greenblatt) %: 16.44% (near median its 10-year median of 16.09)
GF Value™: MXN3,445.03 vs. price of MXN2,800.00 (18.7% below fair value)
Industry Position: 50.7% above the Waste Management median (#76 of 249)
No single metric tells the full story. See the MEX:WCNN 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.
87GF Score
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