CASELLA WASTE SYSTEMS INC (CWST) FY2025 10-K Annual Report

Filed: Feb 20, 2026
Utilities
Refuse SystemsSEC EDGAR

CASELLA WASTE SYSTEMS INC (CWST) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 20, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

CASELLA WASTE SYSTEMS INC FY2025 10-K Analysis

Business Overview

  • Core business model: Integrated solid waste management and recycling services across U.S. regions
  • Emphasis on equity incentive programs with 2.4 million shares available for future issuance under compensation plans
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Management Discussion & Analysis

  • Acquisitions cash paid $224.2M in 2025 vs $468.6M in 2024, acquiring nine businesses in 2025 vs eight in 2024
  • Capital expenditures $245.0M in 2025, up $41.8M YoY due to fleet, facilities investment, partially offset by lower landfill spend
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Risk Factors

  • Regulatory risk from changing federal and state public policies impacting waste industry operations and compliance
  • Geopolitical risk from ongoing global conflicts reducing waste volumes and construction activity across eastern U.S. footprint
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CASELLA WASTE SYSTEMS INC FY2025 Key Financial Metrics
XBRL

Revenue

$1.8B

+18.0% YoY

Net Income

$8M

-41.9% YoY

Operating Margin

3.5%

-121bp YoY

Net Margin

0.4%

-44bp YoY

ROE

0.5%

-37bp YoY

Total Assets

$3.3B

+2.3% YoY

EPS (Diluted)

$0.12

-47.8% YoY

Operating Cash Flow

$330M

+17.2% YoY

Source: XBRL data from CASELLA WASTE SYSTEMS INC FY2025 10-K filing on SEC EDGAR. All figures in USD.

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