Casella Waste Systems Inc (CWST) Financial Statements
Industry: Refuse Systems
In fiscal 2025, Casella Waste Systems reported revenue of $1.84B, up 18.0% from $1.56B the year before. Net income was $7.9M (a 0.4% net margin), or $0.12 per diluted share. Gross margin was 33.8% and operating margin was 3.5%. Operating activities generated $329.8M of cash, leaving $84.7M of free cash flow. At fiscal year end, Casella Waste Systems held $3.30B in total assets against $1.73B in total liabilities, including $123.8M of cash and equivalents.
Open the full interactive Casella Waste Systems financials → Quarterly statements, key ratios, valuation history and price charts.
Casella Waste Systems Key Stats
| Share Price | $85.27 |
|---|---|
| Market Cap | $5.43B |
| P/E Ratio | 710.6 |
| Revenue YoY Growth | +17.9% |
| 52-Week Range | $74.97 – $107.34 |
| Shares Outstanding | 63.6 million (basic, 2026 Q2) |
Casella Waste Systems Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $774.6M | $889.2M | $1.09B | $1.26B | $1.56B | $1.84B |
| Cost of Goods Sold | $515.6M | $582.4M | $723.1M | $832.0M | $1.03B | $1.22B |
| Gross Profit | $258.9M | $306.8M | $362.0M | $432.5M | $529.9M | $620.2M |
| Operating Income | $59.3M | $77.7M | $95.4M | $80.4M | $72.8M | $63.7M |
| Pre-Tax Income | $38.3M | $58.0M | $75.0M | $37.0M | $21.0M | $13.1M |
| Income Tax | -$52.8M | $16.9M | $21.9M | $11.6M | $7.5M | $5.2M |
| Net Income | $91.1M | $41.1M | $53.1M | $25.4M | $13.5M | $7.9M |
| Diluted EPS | $1.86 | $0.80 | $1.03 | $0.46 | $0.23 | $0.12 |
Casella Waste Systems Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $485.4M | $469.1M | $457.3M | $543.7M |
| Net Income | $10.0M | -$2.5M | -$5.5M | $3.8M |
| Diluted EPS | $0.16 | -$0.04 | -$0.09 | $0.06 |
Casella Waste Systems Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $154.3M | $33.8M | $71.2M | $220.9M | $358.3M | $123.8M |
| Current Assets | $247.3M | $146.5M | $207.5M | $426.3M | $613.3M | $369.3M |
| Total Assets | $1.19B | $1.28B | $1.45B | $2.54B | $3.23B | $3.30B |
| Current Liabilities | $131.2M | $152.2M | $177.6M | $278.9M | $307.3M | $293.9M |
| Total Long-Term Debt | $539.7M | $552.4M | $594.0M | $1.04B | $1.13B | $1.15B |
| Total Liabilities | $831.8M | $861.1M | $951.3M | $1.51B | $1.68B | $1.73B |
| Shareholders' Equity | $362.1M | $422.5M | $497.9M | $1.02B | $1.55B | $1.57B |
Casella Waste Systems Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $139.9M | $182.7M | $217.3M | $233.1M | $281.4M | $329.8M |
| Cash From Investing | -$140.0M | -$293.2M | -$206.9M | -$1.01B | -$670.6M | -$469.1M |
| Cash From Financing | $151.0M | -$10.1M | $26.9M | $922.3M | $551.6M | -$27.1M |
| Free Cash Flow | $31.8M | $59.4M | $86.4M | $78.2M | $78.1M | $84.7M |
Figures from Casella Waste Systems' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Casella Waste Systems financials page for every line item.
Casella Waste Systems Company Profile
| Ticker | CWST |
|---|---|
| Exchange | Nasdaq |
| Industry | Refuse Systems |
| Headquarters | Rutland, Vermont |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000911177 |
Frequently Asked Questions
What was Casella Waste Systems' revenue in fiscal 2025?
Casella Waste Systems (CWST) reported revenue of $1.84B for fiscal 2025.
What is Casella Waste Systems' annual revenue history?
Casella Waste Systems' annual revenue by fiscal year: 2020: $774.6M; 2021: $889.2M; 2022: $1.09B; 2023: $1.26B; 2024: $1.56B; 2025: $1.84B.
What was Casella Waste Systems' net income in fiscal 2025?
Casella Waste Systems reported net income of $7.9M for fiscal 2025.
What was Casella Waste Systems' earnings per share (EPS) in fiscal 2025?
Casella Waste Systems' diluted EPS was $0.12 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Casella Waste Systems generate in fiscal 2025?
Casella Waste Systems generated $84.7M of free cash flow in fiscal 2025.
What was Casella Waste Systems' revenue last quarter?
In its most recent reported quarter (2026 Q2), Casella Waste Systems reported revenue of $543.7M.
How much debt does Casella Waste Systems have?
Casella Waste Systems reported $1.15B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Casella Waste Systems are outstanding?
Casella Waste Systems reported a weighted average of 63.6 million basic shares outstanding in 2026 Q2.
What is Casella Waste Systems' market cap?
Based on its latest closing price, Casella Waste Systems (CWST) has a market capitalization of about $5.43B.
When does Casella Waste Systems' fiscal year end?
Casella Waste Systems' fiscal year end, as registered with the SEC, is December 31.
Where is Casella Waste Systems headquartered?
Casella Waste Systems lists its business address in Rutland, Vermont in its SEC filings.