Casella Waste Systems (CWST)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $5.4B, Casella Waste Systems's free cash flow of $85M (fiscal 2025) would need to grow about 20% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Casella Waste Systems's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from CWST's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Casella Waste Systems's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $889M | $1.1B | $1.3B | $1.6B | $1.8B |
| Net income | $41M | $53M | $25M | $14M | $8M |
| Free cash flow | $59M | $86M | $78M | $78M | $85M |
| EPS (diluted) | $0.80 | $1.03 | $0.46 | $0.23 | $0.12 |
| Operating margin | 8.7% | 8.8% | 6.4% | 4.7% | 3.5% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own CWST
From each investor's latest 13F filing (what a 13F shows). 4 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Hersh Cohen ClearBridge Investments |
Added | $118M | 0.10% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
Added | $94M | 0.14% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Held | $10M | 0.09% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $3M | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Casella Waste Systems's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
Get an alert at your buy price
Pick the price you'd be interested at. We'll email you when CWST trades at or below it.
Free accounts get 3 price alerts. No card needed.
In the full deep dive
Questions
What growth does Casella Waste Systems's stock price imply?
At a market value of $5.4B, Casella Waste Systems would need its free cash flow to grow about 20% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 14% a year.
Are Casella Waste Systems insiders buying the stock?
No open-market insider purchases of CWST in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Casella Waste Systems?
4 of the superinvestors Investingly tracks hold CWST in their latest 13F, including Hersh Cohen, Ron Baron, Mario Gabelli.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.