GFL (GFL)
Connects local waste collection routes to transfer, recovery, and landfill infrastructure.
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Provides residential and commercial waste collection, transfer, material recovery, and landfill disposal across Canada and the United States. Recurring local routes feed owned infrastructure, while geographic segments, decentralized regional oversight, and acquisition integration shape the operating model.
Collects residential and commercial waste and moves it through a vertically integrated network of transfer stations, material-recovery facilities, and landfills. Canada and the USA are the reportable segments, while most revenue comes from U.S. operations.
Recurring local routes feed owned infrastructure, linking customer collection volumes to transfer, recovery, and disposal assets. A decentralized operating structure gives regional leaders oversight in fragmented local markets, and acquisition integration remains central to the platform assembled since its founding.
Municipal work is often awarded through competitive bids, and performance depends on permits, labor, fuel, waste volumes, regulation, and access to acquisition candidates. The Environmental Services business was divested, leaving solid waste as the operating core; the announced SECURE transaction remains subject to closing approvals.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 2, 2026 | Barclays | Target | Target: $63 | Target: $58 |
| Apr 14, 2026 | JP Morgan | Downgrade | ||
| Feb 12, 2026 | Barclays | Reiterate | Rating: —Target: — | Target: $63 |
| Jan 21, 2026 | Scotiabank | Reiterate | Rating: —Target: $58 | Target: $57 |
| Nov 24, 2025 | Goldman Sachs | Target | Target: — | Target: $50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $136.7M · Total debt $7.21B · Total assets $15.31B · Shareholders' equity $5.23B
- Revenue
- $1.39B
- Operating income
- $77.9M
- Net income
- −$113.7M
Reported in CAD, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | 155.10% | 555.14M ADS | |
|---|---|---|---|
| 338 holders · as of Jun 30, 2026 | |||
| Insiders | 7.18% | 25.69M ADS | |
| 1 holder · as of Nov 7, 2025 | |||
| Strategic holders | 6.65% | 23.81M ADS | |
| 1 holder · as of Oct 13, 2020 | |||
| Adds to | 168.93% | ||
357.92M ADS as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 168.93%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BCEC-GFL Borrower (Cayman) LPInstitution | 17.34% | 62.06M | filed Feb 13, 2026 |
BC Partners Pe LPInstitution | 16.71% | 29.91M ADS · 29.91M ADS | as of Jun 30, 2026 |
FMR LLCInstitution | 12.65% | 22.64M ADS · 22.64M ADS | as of Jun 30, 2026 |
Ontario Teachers Pension Plan BoardInstitution | 12.55% | 22.45M ADS · 22.45M ADS | as of Jun 30, 2026 |
Capital Research Global InvestorsInstitution | 12.25% | 21.92M ADS · 21.92M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Waste Connections
Broad U.S.-Canada overlap across integrated solid waste services
- WM
Large-scale overlap in collection, transfer, landfill, and recycling
- Republic Services
U.S. route and disposal overlap across core solid-waste services
- Casella Waste Systems
Regional overlap in collection, disposal, transfer, and recycling
- S.E.S. AI
Western Canadian overlap in industrial-waste infrastructure
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| GFL | $42.34 | 0.00% | $14.93B | — | 65.8 | 3.0 | +11.5% |
| Waste Connections | $155.42 | −0.01% | $39.21B | 37.7 | 26.6 | 4.0 | +3.8% |
| WM | $207.84 | +0.10% | $82.76B | 29.3 | 24.3 | 3.2 | +4.0% |
| Republic Services | $213.88 | −0.00% | $65.82B | 30.3 | 28.1 | 3.9 | +4.6% |
| Casella Waste Systems | $85.76 | −0.04% | $5.45B | 934.0 | 65.2 | 2.8 | +16.9% |
| S.E.S. AI | $0.5558 | −0.68% | $207.7M | — | — | 8.9 | +44.6% |
| Median | 34.0 | 27.3 | 3.9 | +4.6% |