Casella Waste Systems Inc. (CWST) intrinsic value & 10-year financials
Casella Waste Systems Inc. (CWST) has a Graham intrinsic value of $0.23 per share. At $88.00 on Oct 17, 2026, the stock trades 38161% above that value. Over the last 10 fiscal years revenue grew 14.0% a year to $1.8B, with an average return on invested capital of 5.5%.
- Graham intrinsic value
- $0.23
- Share price (Oct 17, 2026)
- $88.00
- Price vs Graham value
- 38161% above
- Market cap
- $5.6B
- Revenue (FY2025)
- $1.8B
- Revenue growth (10-yr CAGR)
- 14.0%
- ROIC (10-yr avg)
- 5.5%
- Free cash flow (FY2025)
- $84.7M
CWST 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.8B | $7.9M | $0.12 | $84.7M | 3.5% | 1.6% |
| FY2024 | $1.6B | $13.5M | $0.23 | $78.1M | 4.7% | 2.2% |
| FY2023 | $1.3B | $25.4M | $0.46 | $78.2M | 6.4% | 3.8% |
| FY2022 | $1.1B | $53.1M | $1.03 | $86.4M | 8.8% | 6.9% |
| FY2021 | $889.2M | $41.1M | $0.80 | $59.4M | 8.7% | 6.5% |
| FY2020 | $774.6M | $91.1M | $1.86 | $31.8M | 7.7% | 8.6% |
| FY2019 | $743.3M | $31.7M | $0.66 | $13.7M | 7.1% | 9.2% |
| FY2018 | $660.7M | $6.4M | $0.15 | $47.6M | 6.0% | 8.2% |
| FY2017 | $599.3M | -$21.8M | -$0.52 | $43.1M | -2.1% | -1.6% |
| FY2016 | $565.0M | -$6.8M | -$0.17 | $26.2M | 8.0% | 9.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CASELLA WASTE SYSTEMS INC is a consistent compounder, expanding top-line revenue at 14.0% annually over the past decade.
CASELLA WASTE SYSTEMS INC has historically struggled to out-earn its cost of capital, averaging just 5.5% ROIC.
Over the decade, CASELLA WASTE SYSTEMS INC shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, CASELLA WASTE SYSTEMS INC is modeled at -3.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.23 per share.