Casella Waste Systems: Trash Is King, But This Valuation Just Stinks

Monty Rakusen/DigitalVision via Getty Images Introduction I'm a big fan of the trash business. Waste management and waste collection is a high margin, recurring revenue business model that's typically been resilient to weaker economic periods while putting up steady top line growth from volume growth year after year. However, I've learned one thing from studying the waste management industry is that not all companies in the space are created equal and there's a wide range in terms of the multiples one can p ...