VRT
Vertiv Holdings Co
VRT has the edge over WCN overall, supported by stronger modeled upside and stronger valuation.
WCN
Waste Connections, Inc.
WCN has lower modeled downside risk, despite its lower overall score.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
WCN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Under pressure |
WCN's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is under pressure.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over WCN in the historical PE scenario, which offers more potential upside but is not a forecast.
WCN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 33x | $194 | — |
| Cheap | 42x | $186 | -4.2% |
| Current | 43x | $194 | — |
| Fair | 53x | $236 | +22% |
| Expensive | 79x | $354 | +82% |
Historical ranges are pointers, not guarantees.
WCN's PE is in its cheap range at 43x. If earnings grow as analysts expect, today's price would be 33x next year's earnings.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for VRT, with profitability improving.
WCN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for WCN, with profitability improving. However, they disagree widely on these estimates.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over WCN on earnings, with more consistent year-over-year improvement.
WCN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.95 | +33% |
| Q3 2026 | $4.47 | +86% |
| Q2 2026 | $4.15 | +67% |
| Q1 2026 | $4.10 | +69% |
| Q4 2025 | $4.17 | +74% |
| Q3 2025 | $2.40 | -34% |
| Q2 2025 | $2.48 | -26% |
| Q1 2025 | $2.43 | -21% |
| Q4 2024 | $2.39 | -19% |
WCN earned $4.47 per share over the past year, up 86% from the year before.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over WCN on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over WCN on profitability, with a higher operating margin.
WCN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +7.3% |
| Q2 2026 | $2.6B | +6.4% |
| Q1 2026 | $2.4B | +6.4% |
| Q4 2025 | $2.4B | +5% |
| Q3 2025 | $2.5B | +5.1% |
| Q2 2025 | $2.4B | +7.1% |
| Q1 2025 | $2.2B | +7.5% |
| Q4 2024 | $2.3B | +11% |
WCN's revenue has grown year over year every quarter since late 2020: $2.6B last quarter, up 7.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +2.7 points |
| Q2 2026 | 17% | -2 points |
| Q1 2026 | 15% | -2.2 points |
| Q4 2025 | 18% | +27 points |
| Q3 2025 | 18% | -2.4 points |
| Q2 2025 | 19% | +0.2 points |
| Q1 2025 | 18% | -0.2 points |
| Q4 2024 | -8.8% | -20 points |
WCN's operating margin was 21% last quarter, up 2.7 points from the same quarter a year ago, near the top of its range since 2019.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over WCN on cash flow, with more consistent year-over-year improvement.
WCN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $397.1M | +4.4% |
| Q2 2026 | $430.9M | +22% |
| Q1 2026 | $249M | -24% |
| Q4 2025 | $172.6M | +0.2% |
| Q3 2025 | $380.3M | +33% |
| Q2 2025 | $352.9M | -10% |
| Q1 2025 | $329.1M | +2.7% |
| Q4 2024 | $172.2M | -27% |
WCN's free cash flow has been positive every quarter for seven years: $1.2B over the past year, up 1.2% from the year before.
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has 393M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
WCN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -2M shares |
| 1 year | -2.2% | -5.7M shares |
| 3 years | -2.5% | -6.4M shares |
| 5 years | -3.6% | -9.3M shares |
| Available history | -4.8% | -12.7M shares |
WCN has the edge over VRT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $329.9M |
| Q2 2026 | $330.5M |
| Q1 2026 | $284M |
| Q4 2025 | $63.3M |
| Q3 2025 | $441.8M |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
WCN spent $1B buying back its own shares over the past year.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has the edge over WCN on leverage, with a lower net debt burden relative to earnings.
WCN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.1x | Elevated |
| Q2 2026 | 3.1x | Elevated |
| Q1 2026 | 3.1x | Elevated |
| Q4 2025 | 3.0x | Moderate |
| Q3 2025 | 3.7x | Elevated |
| Q2 2025 | 3.5x | Elevated |
| Q1 2025 | 3.6x | Elevated |
| Q4 2024 | 3.6x | Elevated |
WCN's net debt is about 3.0 years of its operating earnings (EBITDA), down from 3.7 years a year ago.
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
WCN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.8 | Neutral |
| Stochastic | 90.8 | Overbought |
WCN's weekly RSI is 70 (neutral) and its Stochastic is 91 (overbought).
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT has the edge over WCN on valuation relative to its sector.
WCN PE vs Industrials Sector
| Metric | WCN | Sector median | Relative |
|---|---|---|---|
| PE | 43x | 24x | 80% above |
| PE % | 30 | 58 | 28 pts below |
WCN is trading at 43x earnings, a 80% premium to the Industrials sector's median of 24x.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
WCN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $173.0 | 12% above |
| 20 week MA | $169.0 | 15% above |
| 50 week MA | $166.1 | 17% above |
| 100 week MA | $174.7 | 11% above |
| 200 week MA | $165.1 | 17% above |
WCN has the edge over VRT on trend strength, trading above more of its moving averages.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over WCN on returns for 2026, with the stronger performance.
WCN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $90.9 | $101.5 | +12% |
| 2021 | $101.5 | $132.2 | +30% |
| 2022 | $132.2 | $133.4 | +0.9% |
| 2023 | $133.4 | $149.3 | +12% |
| 2024 | $149.3 | $171.3 | +15% |
| 2025 | $171.3 | $178.1 | +4% |
| 2026 YTD | $178.1 | $193.9 | +8.9% |
WCN has finished every year since 2020 higher, and it's up 8.9% so far in 2026.