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Commercial services (waste)

The 20 companies in this industry listed on the NYSE and Nasdaq are worth $242 bn combined; the largest are Waste Management (WM), Republic Services (RSG) and Waste Connections (WCN). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Open contest
20 companies value 242 bn revenue 70 bn margin 12.6% free cash flow 8.9 bn avg. score 2.7
WM holds 37.4% of the group's value, 1.3x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 WM Waste Management
United States · score 6.0
37% 91 bn 26 bn 11.1% 3.6 bn 3.9% 1.6% Largest US waste collection and treatment company · North America's largest waste company; landfills are irreplaceable assets
2 RSG Republic Services
United States · score 5.9
29% 70 bn 19 bn 11.3% 2.6 bn 3.8% 1.1% Waste collection, landfill and recycling · 2nd largest, with pricing above inflation for a decade
3 WCN Waste Connections
Canada/United States · score 5.5
17% 42 bn 9.8 bn 11.0% 1.2 bn 3.0% 0.8% Waste collection, landfill and recycling in North America · 3rd largest in waste; focused on secondary markets with less competition
4 CLH Clean Harbors
United States · score 5.3
7% 17 bn 6.2 bn 7.0% 0.5 bn 2.8% — Hazardous waste treatment and environmental services · Leader in hazardous waste and industrial environmental services
5 GFL GFL Environmental Inc.
United States · score 6.1
7% 16 bn 4.7 bn 57.6% 0.9 bn 5.9% 0.1% Solid waste collection, transfer, recycling and landfill disposal in the US and Canada · Florida — revenue of $4.7bn
6 CWST CASELLA WASTE SYSTEMS INC
United States · score 4.4
2% 5.5 bn 2.0 bn 0.3% 0.1 bn 1.9% — Integrated solid waste services in the US Northeast · Vermont — revenue of $2bn
7 NVRI Enviri Corp
United States · score 3.1
0% 0.5 bn 1.3 bn -19.9% — — — — Industrial waste treatment and environmental services · Pennsylvania — revenue of $1.3bn
8 ONT Onterris, Inc.
United States · score 2.7
0% 0.5 bn 0.8 bn -1.4% 0.1 bn 10.7% 0.3% Environmental services for the public and private sectors · California — revenue of $773m
9 PESI PERMA FIX ENVIRONMENTAL SERVICES INC
United States · score 0.1
0% 0.3 bn 0.1 bn -37.0% -0.0 bn -8.5% — Nuclear waste treatment and decommissioning · Georgia — revenue of $57m
10 YDDL One & one Green Technologies. INC
Philippines · score 2.1
0% 0.1 bn 0.1 bn 17.6% -0.0 bn -27.0% — Scrap metal and e-waste recycling in the Philippines · Philippines — revenue of $71m
11 LODE Comstock Inc.
United States · score 0.0
0% 0.1 bn 0.0 bn -60x -0.0 bn -23.0% — Technologies converting waste into energy and metals · Nevada — revenue of $1m
12 QRHC Quest Resource Holding Corp
United States · score 3.4
0% 0.0 bn 0.3 bn -7.1% 0.0 bn 47.1% — Waste management and recycling for multi-site businesses · Texas — revenue of $248m
13 AWX AVALON HOLDINGS CORP
United States · score 4.3
0% 0.0 bn 0.1 bn 1.4% 0.0 bn 12.5% — Waste management, golf courses and medical spas · Ohio — revenue of $86m
14 ZDAI DirectBooking Technology Co., Ltd.
Hong Kong · score 0.4
0% 0.0 bn 0.0 bn -148.8% 0.0 bn -12.7% — Transport and reuse of construction waste · Hong Kong — revenue of $9m
15 AQMS Aqua Metals, Inc.
United States · score 0.0
0% 0.0 bn 0.0 bn — -0.0 bn -215.7% — Metals recycling with the AquaRefining process, since 2014 · Nevada
16 GWAV Greenwave Technology Solutions, Inc.
United States · score 0.8
— — 0.1 bn -27.7% 0.0 bn — — Car shredding and recycling · Virginia — revenue of $61m
17 DXST Decent Holding Inc.
China · score 1.5
— — 0.0 bn -3.5% -0.0 bn — — Industrial wastewater treatment, ecological river restoration and microbial products in China · China — revenue of $26m
18 CDTG CDT Environmental Technology Investment Holdings Ltd
China · score 1.3
— — 0.0 bn -55.9% 0.0 bn — — Sewage and waste treatment in China · China — revenue of $18m
19 RENX RenX Enterprises Corp.
United States · score 0.1
— — 0.0 bn -169.2% -0.0 bn — — Engineered soils, mulch and organic waste recycling, formerly a real estate developer · Florida — revenue of $15m
20 OIO OIO Group
Singapore · score 1.2
— — 0.0 bn -81.6% 0.0 bn — — Collection, treatment and recycling of hazardous and non-hazardous industrial waste in Singapore · Singapore — revenue of $6m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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