Every figure is the balance as filed. Each filing badge opens the SEC index page for that fiscal year.
Structure
Capital structure
Assets plotted against the liabilities and equity stack, so you can see how the balance sheet is financed.
Liabilities and equity stack to the capital base; assets are the dashed reference line.
Composition
Capital mix
The same split read as a share of total capital rather than in absolute dollars.
Percentages are measured against total capital for each fiscal year.
Trend
Multi-year momentum
How assets, liabilities and equity have moved across the annual balance sheet window.
Switching between bar and line keeps the selected year order.
Doing some research...
Commentary
Commentary on CASELLA WASTE SYSTEMS, INC. Balance Sheet
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Earlier AI snapshot · Generated Feb 22, 2026. The filing-backed figures above are the current source of truth.
Over the five-year period CASELLA WASTE SYSTEMS’ balance sheet expanded substantially: total assets rose from $1,283.6m in 2021 to $3,303.3m in 2025 (≈+157%), with the largest single-year jump in 2023 (+75% vs. 2022). Liabilities also increased, from $861.1m to $1,734.6m (+101%), but at a slower overall pace than assets. Stockholders’ equity grew most sharply, from $422.5m to $1,568.7m (+271%), including a more than 100% increase in 2023 and another large step in 2024; equity then stabilized in 2025. As a result the equity-to-assets ratio improved from ~33% in 2021 to ~48% in 2024 (≈47.5% in 2025), and the liabilities/equity multiple fell from ~2.04x to ~1.11x, indicating meaningful deleveraging and a stronger capital base.
The pattern — modest growth in 2021–22, a big expansion in 2023, continued growth in 2024 and stabilization in 2025 — is consistent with acquisitive, capital‑intensive expansion typical of the waste-management sector (where growth is often achieved via M&A, higher PP&E and related financing). The rising equity share and lower leverage suggest an improved credit profile and greater room to invest or absorb integration risks, but liabilities remain material (liabilities ≈52.5% of assets in 2025). Key items to watch going forward are the drivers of the 2023–24 jumps (acquisition goodwill, increased financing or retained earnings), the sustainability of equity growth, and how capital expenditures and debt service affect cash generation in this capital‑heavy industry.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.
