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GFL Environmental (GFL) Financials

GFL Environmental logo
$36.66 +0.02 (+0.04%)
As of 02:53 PM Eastern
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Annual Income Statements for GFL Environmental

Annual Income Statements for GFL Environmental

This table shows GFL Environmental's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
-348 -1,728 -475 -366 51 -502 2,796
Consolidated Net Income / (Loss)
-351 -1,728 -475 -230 24 -512 2,781
Net Income / (Loss) Continuing Operations
-351 -1,728 -473 -271 41 -642 175
Total Pre-Tax Income
-469 -1,927 -576 -266 146 -799 165
Total Operating Income
-506 -624 -223 242 612 217 396
Total Gross Profit
211 149 371 584 979 817 1,101
Total Revenue
2,579 3,289 4,020 4,991 5,710 4,296 4,929
Operating Revenue
2,579 3,289 4,020 4,997 5,693 4,296 4,929
Total Cost of Revenue
2,368 3,140 3,649 4,407 4,731 3,479 3,828
Operating Cost of Revenue
2,368 3,140 3,649 4,407 4,731 3,479 3,828
Total Operating Expenses
717 773 594 342 367 600 706
Selling, General & Admin Expense
306 399 440 540 738 600 706
Total Other Income / (Expense), net
38 -1,303 -353 -507 -449 -1,016 -231
Interest Expense
- 468 338 362 475 462 434
Other Income / (Expense), net
38 -835 -14 -161 72 -553 203
Income Tax Expense
-119 -199 -103 -130 121 -157 -10
Other Adjustments to Consolidated Net Income / (Loss)
- - 16 - - 111 2,605
Net Income / (Loss) Attributable to Noncontrolling Interest
- - 0.00 0.52 -10.00 -10 -15
Weighted Average Basic Shares Outstanding
0.00 354.93M 375.06M 380.21M 407.93M 411.98M 370.99M
Weighted Average Diluted Shares Outstanding
0.00 354.93M 375.06M 380.21M 407.93M 411.98M 370.99M
Weighted Average Basic & Diluted Shares Outstanding
1.54M 354.93M 375.06M 380.21M 407.93M 411.98M 370.99M

Quarterly Income Statements for GFL Environmental

No quarterly income statements for GFL Environmental are available.


Annual Cash Flow Statements for GFL Environmental

This table details how cash moves in and out of GFL Environmental's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
1,267 2,452 137 1,240 2,871 1,289 3,583
Net Cash From Operating Activities
1,251 2,473 703 1,267 2,836 1,247 5,704
Net Cash From Continuing Operating Activities
1,251 2,473 664 1,267 2,836 1,247 5,704
Net Income / (Loss) Continuing Operations
0.00 0.00 -475 -230 24 -512 2,781
Consolidated Net Income / (Loss)
- - -475 -230 24 -512 2,781
Depreciation Expense
359 635 729 745 761 782 769
Amortization Expense
257 335 - 382 368 306 191
Non-Cash Adjustments To Reconcile Net Income
759 1,703 681 499 1,832 832 1,395
Changes in Operating Assets and Liabilities, net
-124 -200 -271 -130 -149 -161 568
Net Cash From Investing Activities
16 13 -2,103 17 47 43 43
Net Cash From Continuing Investing Activities
16 13 -2,103 17 47 43 43
Sale of Property, Plant & Equipment
16 13 203 17 47 43 43
Net Cash From Financing Activities
0.00 -34 1,538 -43 -12 0.00 -2,164
Net Cash From Continuing Financing Activities
0.00 -34 1,598 -43 -12 0.00 -2,164
Repurchase of Preferred Equity
- - - - - 0.00 -2,164

Quarterly Cash Flow Statements for GFL Environmental

No quarterly cash flow statements for GFL Environmental are available.


Annual Balance Sheets for GFL Environmental

This table presents GFL Environmental's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets
9,498 12,331 14,398 14,608 15,058 14,727 14,072
Total Current Assets
1,095 806 1,171 1,022 1,125 1,178 849
Cash & Equivalents
443 21 149 61 103 93 62
Accounts Receivable
550 680 888 826 818 816 585
Current Deferred & Refundable Income Taxes
- - - 0.00 36 60 70
Plant, Property, & Equipment, net
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets
6,207 7,547 8,523 8,753 8,645 8,097 7,881
Long-Term Investments
- - 0.00 241 242 239 1,384
Goodwill
3,987 5,096 5,871 6,047 5,977 5,601 5,028
Intangible Assets
2,195 2,425 2,606 2,398 2,315 1,968 1,281
Noncurrent Deferred & Refundable Income Taxes
- - - 0.00 49 145 0.00
Other Noncurrent Operating Assets
24 26 46 67 63 144 187
Total Liabilities & Shareholders' Equity
9,498 12,331 14,398 14,608 15,058 14,727 14,072
Total Liabilities
7,364 7,963 9,877 10,142 9,463 9,712 8,613
Total Current Liabilities
667 935 1,192 1,989 1,371 2,188 1,457
Short-Term Debt
50 3.61 13 13 7.35 796 0.00
Accounts Payable
564 796 1,033 1,151 1,272 1,306 1,377
Other Current Liabilities
26 29 40 38 45 48 48
Total Noncurrent Liabilities
6,698 5,429 7,049 8,152 8,092 7,524 7,156
Long-Term Debt
5,827 4,830 6,249 6,835 6,686 6,148 5,413
Capital Lease Obligations
122 120 201 242 290 331 329
Noncurrent Deferred & Payable Income Tax Liabilities
566 450 567 431 404 323 567
Other Noncurrent Operating Liabilities
9.56 29 32 35 30 29 25
Total Equity & Noncontrolling Interests
2,133 4,368 4,521 4,467 5,595 5,015 5,459
Total Preferred & Common Equity
2,133 4,368 4,521 4,461 5,436 4,846 5,326
Total Common Equity
2,133 4,368 4,521 4,461 5,436 4,846 5,326
Common Stock
2,729 6,035 6,684 6,466 7,563 7,006 5,261
Retained Earnings
-594 -1,478 -1,965 -2,101 -2,138 -2,482 167
Accumulated Other Comprehensive Income / (Loss)
-2.08 -189 -199 96 11 321 -103
Noncontrolling Interest
- - 0.00 5.10 158 169 133

Quarterly Balance Sheets for GFL Environmental

No quarterly balance sheets for GFL Environmental are available.


Annual Metrics And Ratios for GFL Environmental

This table displays calculated financial ratios and metrics derived from GFL Environmental's official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics
- - - - - - -
Revenue Growth
0.00% 27.53% 22.22% 24.15% 14.41% -3.84% 14.73%
EBITDA Growth
0.00% -429.71% 200.66% 145.76% 50.04% -51.29% 107.22%
EBIT Growth
0.00% -211.68% 83.70% 133.98% 747.19% -130.08% 277.98%
NOPAT Growth
0.00% -23.33% 64.19% 208.22% -39.35% -90.57% 177.17%
Net Income Growth
0.00% -393.11% 72.52% 51.59% 110.61% -2,200.40% 642.87%
EPS Growth
0.00% 0.00% 0.00% 0.00% 71.86% 0.00% 0.00%
Operating Cash Flow Growth
0.00% 97.66% -71.59% 80.27% 123.85% -56.04% 357.57%
Free Cash Flow Firm Growth
0.00% 0.00% 45.53% 121.47% 35.19% 75.07% 267.41%
Invested Capital Growth
0.00% 23.73% 11.63% -0.48% -2.29% -6.37% -26.95%
Revenue Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profitability Metrics
- - - - - - -
Gross Margin
8.18% 4.53% 9.22% 11.70% 17.15% 19.36% 22.34%
EBITDA Margin
5.74% -14.85% 12.23% 24.20% 31.74% 16.08% 31.62%
Operating Margin
-19.60% -18.96% -5.55% 4.84% 10.72% 0.25% 8.03%
EBIT Margin
-18.14% -44.34% -5.91% 1.62% 11.98% -3.75% 12.15%
Profit (Net Income) Margin
-13.59% -52.54% -11.81% -4.61% 0.43% -9.33% 56.42%
Tax Burden Percent
74.66% 89.69% 82.42% 86.59% 16.76% 78.08% 1,686.60%
Interest Burden Percent
100.33% 132.12% 242.41% -328.73% 21.26% 318.76% 27.53%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 83.24% 0.00% -6.28%
Return on Invested Capital (ROIC)
-6.33% -6.98% -2.14% 2.20% 1.35% 0.13% 6.92%
ROIC Less NNEP Spread (ROIC-NNEP)
-6.23% -50.01% -13.22% -10.24% -1.70% -26.46% 286.41%
Return on Net Nonoperating Assets (RNNOA)
-10.10% -46.19% -8.55% -7.31% -0.87% -9.79% 46.19%
Return on Equity (ROE)
-16.43% -53.17% -10.69% -5.12% 0.48% -9.66% 53.10%
Cash Return on Invested Capital (CROIC)
0.00% -28.20% -13.12% 2.68% 3.67% 6.71% 38.06%
Operating Return on Assets (OROA)
-4.93% -13.36% -1.78% 0.56% 4.61% -1.38% 4.16%
Return on Assets (ROA)
-3.69% -15.84% -3.55% -1.59% 0.16% -3.44% 19.31%
Return on Common Equity (ROCE)
-16.43% -53.17% -10.69% -5.11% 0.48% -9.36% 51.57%
Return on Equity Simple (ROE_SIMPLE)
-16.43% -39.57% -10.51% -5.15% 0.45% -10.57% 0.00%
Net Operating Profit after Tax (NOPAT)
-354 -437 -156 169 103 9.67 421
NOPAT Margin
-13.72% -13.27% -3.89% 3.39% 1.80% 0.18% 8.53%
Net Nonoperating Expense Percent (NNEP)
-0.10% 43.03% 11.09% 12.44% 3.05% 26.59% -279.49%
Return On Investment Capital (ROIC_SIMPLE)
- - - - 0.82% 0.08% 3.76%
Cost of Revenue to Revenue
91.82% 95.47% 90.78% 88.30% 82.85% 80.64% 77.66%
SG&A Expenses to Revenue
11.85% 12.12% 10.95% 10.81% 12.92% 13.02% 14.31%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
27.78% 23.49% 14.78% 6.86% 6.43% 19.11% 14.31%
Earnings before Interest and Taxes (EBIT)
-468 -1,459 -238 81 684 -206 599
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
148 -488 492 1,208 1,813 883 1,559
Valuation Ratios
- - - - - - -
Price to Book Value (P/BV)
0.67 0.50 2.96 2.45 2.41 3.75 3.32
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
0.55 0.66 3.33 2.19 2.29 3.31 3.59
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 254.65 0.00 6.33
Dividend Yield
0.00% 0.10% 0.11% 0.16% 0.15% 0.12% 0.14%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.39% 0.00% 15.81%
Enterprise Value to Invested Capital (EV/IC)
1.25 1.03 2.55 2.31 2.65 3.60 4.31
Enterprise Value to Revenue (EV/Rev)
2.71 2.16 4.90 3.55 3.48 4.60 4.49
Enterprise Value to EBITDA (EV/EBITDA)
47.13 0.00 40.06 14.67 10.98 28.63 14.19
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 219.46 29.07 0.00 36.92
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 104.79 193.93 2,612.87 52.58
Enterprise Value to Operating Cash Flow (EV/OCF)
5.58 2.87 28.02 13.99 7.02 20.28 3.88
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 85.99 71.39 51.81 9.56
Leverage & Solvency
- - - - - - -
Debt to Equity
2.81 1.13 1.43 1.59 1.25 1.45 1.05
Long-Term Debt to Equity
2.79 1.13 1.43 1.58 1.25 1.29 1.05
Financial Leverage
1.62 0.92 0.65 0.71 0.51 0.37 0.16
Leverage Ratio
4.45 3.36 3.01 3.23 2.95 2.81 2.75
Compound Leverage Factor
4.47 4.44 7.29 -10.61 0.63 8.95 0.76
Debt to Total Capital
73.77% 53.15% 58.85% 61.35% 55.52% 59.20% 51.26%
Short-Term Debt to Total Capital
0.61% 0.04% 0.12% 0.11% 0.06% 6.48% 0.00%
Long-Term Debt to Total Capital
73.16% 53.11% 58.72% 61.24% 55.46% 52.72% 51.26%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.04% 1.26% 1.37% 1.19%
Common Equity to Total Capital
26.23% 46.85% 41.15% 38.61% 43.22% 39.43% 47.55%
Debt to EBITDA
40.50 -10.14 13.15 5.87 3.85 8.24 3.68
Net Debt to EBITDA
37.51 -10.10 12.85 5.62 3.66 7.86 2.76
Long-Term Debt to EBITDA
40.16 -10.14 13.12 5.86 3.85 7.34 3.68
Debt to NOPAT
-16.95 -11.35 -41.36 41.91 68.08 752.10 13.65
Net Debt to NOPAT
-15.70 -11.30 -40.40 40.13 64.72 717.77 10.21
Long-Term Debt to NOPAT
-16.81 -11.34 -41.27 41.84 68.01 669.79 13.65
Altman Z-Score
0.19 -0.14 0.84 0.73 1.14 1.13 1.69
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.06% 1.62% 3.09% 2.88%
Liquidity Ratios
- - - - - - -
Current Ratio
1.64 0.86 0.98 0.51 0.82 0.54 0.58
Quick Ratio
1.49 0.75 0.87 0.45 0.67 0.42 0.44
Cash Flow Metrics
- - - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -1,763 -960 206 279 488 2,315
Operating Cash Flow to CapEx
0.00% 0.00% 231.72% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
0.00 -3.76 -2.84 0.57 0.59 1.04 5.33
Operating Cash Flow to Interest Expense
0.00 5.28 2.08 3.50 5.97 2.66 13.14
Operating Cash Flow Less CapEx to Interest Expense
0.00 5.31 1.18 3.55 6.07 2.75 13.24
Efficiency Ratios
- - - - - - -
Asset Turnover
0.27 0.30 0.30 0.34 0.39 0.37 0.34
Accounts Receivable Turnover
4.69 5.35 5.13 5.82 6.95 6.72 7.04
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover
4.20 4.62 3.99 4.04 3.91 3.44 2.85
Days Sales Outstanding (DSO)
77.80 68.22 71.18 62.68 52.55 54.31 51.87
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
86.94 79.01 91.43 90.44 93.46 106.23 127.91
Cash Conversion Cycle (CCC)
-9.14 -10.79 -20.25 -27.76 -40.91 -51.92 -76.04
Capital & Investment Metrics
- - - - - - -
Invested Capital
5,589 6,916 7,720 7,683 7,507 7,029 5,135
Invested Capital Turnover
0.46 0.53 0.55 0.65 0.75 0.76 0.81
Increase / (Decrease) in Invested Capital
0.00 1,326 804 -37 -176 -478 -1,894
Enterprise Value (EV)
6,981 7,109 19,691 17,726 19,895 25,276 22,117
Market Capitalization
1,425 2,176 13,376 10,933 13,097 18,163 17,688
Book Value per Share
$1,383.95 $12.31 $12.74 $11.90 $14.30 $11.88 $12.93
Tangible Book Value per Share
($2,626.95) ($8.88) ($11.15) ($10.62) ($7.51) ($6.67) ($2.39)
Total Capital
8,132 9,322 10,985 11,556 12,579 12,291 11,201
Total Debt
5,999 4,954 6,464 7,090 6,984 7,275 5,742
Total Long-Term Debt
5,949 4,951 6,451 7,077 6,977 6,479 5,742
Net Debt
5,556 4,933 6,315 6,788 6,640 6,943 4,295
Capital Expenditures (CapEx)
-16 -13 303 -17 -47 -43 -43
Debt-free, Cash-free Net Working Capital (DFCFNWC)
35 -147 -156 -1,015 -342 -307 -670
Debt-free Net Working Capital (DFNWC)
478 -126 -7.44 -954 -239 -214 -608
Net Working Capital (NWC)
428 -129 -21 -967 -246 -1,010 -608
Net Nonoperating Expense (NNE)
-3.44 1,292 319 399 78 522 -2,360
Net Nonoperating Obligations (NNO)
3,456 2,548 3,199 3,216 1,912 2,013 -324
Total Depreciation and Amortization (D&A)
616 970 729 1,127 1,128 1,089 960
Debt-free, Cash-free Net Working Capital to Revenue
1.34% -4.47% -3.89% -20.33% -5.99% -5.59% -13.60%
Debt-free Net Working Capital to Revenue
18.51% -3.82% -0.18% -19.12% -4.19% -3.90% -12.34%
Net Working Capital to Revenue
16.59% -3.93% -0.52% -19.38% -4.32% -18.40% -12.34%
Earnings Adjustments
- - - - - - -
Adjusted Basic Earnings per Share
$0.00 ($2.80) ($1.83) $0.00 $34,388,729.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding
0.00 354.93M 375.06M 380.21M 407.93M 411.98M 370.99M
Adjusted Diluted Earnings per Share
$0.00 ($2.80) ($1.83) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
0.00 354.93M 375.06M 380.21M 407.93M 411.98M 370.99M
Adjusted Basic & Diluted Earnings per Share
$0.00 ($2.80) $0.00 $0.00 ($0.13) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 354.93M 375.06M 380.21M 407.93M 411.98M 370.99M
Normalized Net Operating Profit after Tax (NOPAT)
-353 -422 -156 172 421 9.67 277
Normalized NOPAT Margin
-13.70% -12.84% -3.89% 3.44% 7.38% 0.18% 5.62%
Pre Tax Income Margin
-18.20% -58.58% -14.33% -5.32% 2.55% -11.95% 3.35%
Debt Service Ratios
- - - - - - -
EBIT to Interest Expense
0.00 -3.11 -0.70 0.22 1.44 -0.44 1.38
NOPAT to Interest Expense
0.00 -0.93 -0.46 0.47 0.22 0.02 0.97
EBIT Less CapEx to Interest Expense
0.00 -3.09 -1.60 0.27 1.54 -0.35 1.48
NOPAT Less CapEx to Interest Expense
0.00 -0.91 -1.36 0.51 0.31 0.11 1.07
Payout Ratios
- - - - - - -
Dividend Payout Ratio
0.00% 0.00% -2.95% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% -2.95% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for GFL Environmental

No quarterly metrics and ratios for GFL Environmental are available.



Financials Breakdown Chart

GFL Environmental Financials - Frequently Asked Questions

According to the most recent income statement we have on file, GFL Environmental's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

GFL Environmental's net income appears to be on a downward trend, with a most recent value of $2.78 billion in 2025, falling from -$350.50 million in 2019. The previous period was -$512.29 million in 2024. Find out what analysts predict for GFL Environmental in the coming months.

GFL Environmental's total operating income in 2025 was $395.78 million, based on the following breakdown:
  • Total Gross Profit: $1.10 billion
  • Total Operating Expenses: $705.51 million

Over the last 6 years, GFL Environmental's total revenue changed from $2.58 billion in 2019 to $4.93 billion in 2025, a change of 91.1%.

GFL Environmental's total liabilities were at $8.61 billion at the end of 2025, a 11.3% decrease from 2024, and a 16.9% increase since 2019.

In the past 6 years, GFL Environmental's cash and equivalents has ranged from $21.32 million in 2020 to $442.98 million in 2019, and is currently $62.43 million as of their latest financial filing in 2025.

Over the last 6 years, GFL Environmental's book value per share changed from 1,383.95 in 2019 to 12.93 in 2025, a change of -99.1%.



Financial statements for NYSE:GFL last updated on 2/21/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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