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GFL Environmental Inc. (GFL)

NYSE: GFL · Refuse Systems · Miami, FL · filing with the SEC since 2019
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Grade6.0
◀ Past 6.3● Present 5.8▶ Future 6.0
1 est.
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The grade of GFL Environmental Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.0/10
◀ Past6.330% of the headline
● Present5.840% of the headline
▶ Future6.030% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.3/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
7.7/10

Has it survived what it has been through?

No warning events in its filings since 2019.

weight 33% of this tense · 77th percentile among 11 sector filers · read for itself

From the record

GFL Environmental Inc.'s filings since 2019 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
4.7/10

What has it actually done, year after year?

+12% a year over 7 filed years; profitable in 2 of 7.

weight 45% of this tense · 47th percentile among 9 sector filers · read for its customers

From the record

GFL Environmental Inc.'s 7 filed years say what it did: revenue went from CAD 3.3 billion in fiscal 2019 to CAD 6.6 billion in fiscal 2025, up 12% a year; it rose in 5 of 6 years; the deepest fall was 18% from fiscal 2023 to fiscal 2024; net income was positive in 2 of 7 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span12.0%top 39% of its family
  • the share of years revenue rosetop 39% of its family
  • the share of filed years with a profitbottom 39% of its family
  • the deepest fall from a revenue peak18.3%bottom 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
7.4/10

How has it treated the people who own it?

Share count grew 0.2% a year. 80% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 74th percentile among 8 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, GFL Environmental Inc.'s diluted share count grew about 0.2% a year, and dividends and buybacks returned about 80% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 45% of its family
  • cash returned against operating cash flowtop 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.8/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
6.5/10

Is it financially healthy right now?

ROE 52%: 52¢ of profit per shareholder dollar. Leverage 62%: owes 62¢ per asset dollar.

weight 33% of this tense · 65th percentile among 10 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, GFL Environmental Inc. earned about 52 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 7 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 62 cents per dollar of assets, and net share issuance: its share count shrank 3.0% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 45% of its family
  • return on equitytop 5% of its family
  • gross profit against assetsbottom 17% of its family
  • the share count against the year beforetop 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.5/10

How strong is its position in its industry?

top 45% of 10 in its family; net margin 57.6%.

weight 45% of this tense · 55th percentile among 10 sector filers · read for its customers

From the record

GFL Environmental Inc.'s standing among 10 graded names in its industry family: revenue of CAD 6.6 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of 57.6% ranks in the top 5%; revenue growth of -0.7% a year over the last 3 filed years ranks in the bottom 15% (its annual reports).

What it rests on

  • net margin57.6%top 5% of its family
  • three-year revenue growth-0.7%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.5/10

What are the people in charge doing?

SI estimate 5.5/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 7 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 7 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned
family median, 7 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: GFL Environmental Inc.'s leadership is put at 5.5 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 7 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.0/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.3/10

How much room does it have to grow?

top 47% of 10 in its family for room to expand.

weight 22% of this tense · 53rd percentile among 10 sector filers · read for itself

From the record

GFL Environmental Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of CAD 86 million against debt of CAD 7.4 billion leaves -38% of its assets as net cash, bottom 35% of its family; cash from operations less capital spending is 19.9% of revenue (top 5%); a gross margin of 20.7% (bottom 28%) (its annual report).

What it rests on

  • cash less debt against assets-38.0%bottom 35% of its family
  • cash from operations less capital spending against revenue19.9%top 5% of its family
  • gross margin20.7%bottom 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
3.9/10

What could actually drive growth from here?

bottom 39% of 9 in its family for growth drivers.

weight 45% of this tense · 39th percentile among 9 sector filers · read for its customers

From the record

GFL Environmental Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -0.7% a year over the last three filed years against 12% over all 7, slowing (bottom 17% of its family); the newest year grew 7.8% (top 39%) (its annual reports). GFL Environmental Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-12.7 points a yearbottom 17% of its family
  • the newest year's revenue growth7.8%top 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
9.4/10

Did its newest year beat what its own record pointed to?

top 6% of 8 in its family for expectations against reality.

weight 33% of this tense · 94th percentile among 8 sector filers · read for its shareholders

From the record

GFL Environmental Inc.'s newest year against its own record: revenue of CAD 6.6 billion in fiscal 2025 came in 13.1% above the CAD 5.8 billion its prior three years' pace pointed to (top 6% of its family); net income of CAD 3.8 billion against a prior three-year average of CAD 339 million (top 6%); a net margin of 57.6% against -5.4% before (top 6%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace13.1%top 6% of its family
  • net income against the prior three years' averagefive times its prior average or moretop 6% of its family
  • net margin against its prior average+63.0 pointstop 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GFL · research, not advice