WasteCo Share Price: Down 60% to Under a Cent After a Safety and Financial Reset
WasteCo Share Price Today
The WasteCo share price sits at about $0.008 NZD (NZX: WCO) in mid-June 2026, down a steep 60% over the past year. With a market cap near $9 million, WasteCo is New Zealand's only NZX-listed waste-solutions and industrial-services company. It should be a defensive, essential-services business; instead it has become a distressed turnaround following serious safety failures and a financial reset.
This is a situation where the human and governance issues matter as much as the financials, and investors need to weigh both.
What WasteCo Does
WasteCo provides waste-management and industrial services to households, businesses, and local authorities across New Zealand. More than 45% of its revenue is secured through long-term contracts with councils, healthcare, infrastructure, and commercial customers, which in normal circumstances gives the business a stable, recurring base. Waste collection is genuinely essential infrastructure, the kind of steady activity that can support a resilient business.
That stable foundation is what makes the recent troubles so striking: the problems have been largely self-inflicted and operational rather than a collapse in demand.
Recent Performance: Growth Overshadowed by a Reset
WasteCo's FY26 result (year to March 2026) was deeply mixed:
- •Revenue up 24.5% to about $70.2 million, largely driven by acquisitions
- •Operating EBITDA improved to about $5.85 million
- •But the net loss widened to about $12.35 million, hit by high financing costs, fleet expenses, duplicated overheads, and restructuring charges
- •The year was dominated by a safety reset following two employee fatalities and ongoing regulatory investigations, with about $1.75 million committed to overhauling safety management
Two workplace deaths are a profound failure, and the company has, appropriately, made health and safety its top priority over financial performance. For investors, this means the FY26 numbers reflect a business in repair, growing revenue but absorbing heavy costs to rebuild systems, accountability, and trust.
Key Metrics
- •Share price: ~$0.008 NZD
- •Market cap: ~$9 million NZD
- •52-week move: about -60%
- •Revenue: ~$70.2 million (up 24.5%)
- •Operating EBITDA: ~$5.85 million
- •Net result: a loss of about $12.35 million
- •Net tangible assets: slightly negative
- •Gross dividend yield: 0%
The gap between $70 million of revenue and a sub-cent share price reflects the market's deep scepticism: positive EBITDA is being overwhelmed by financing costs, restructuring, and the overhang of regulatory investigations.
What to Watch
- •Safety and regulatory outcomes: The investigations and the success of the safety overhaul are paramount, both ethically and for the company's licence to operate.
- •Profitability: Positive EBITDA must translate into a narrowing net loss. Watch financing costs and whether restructuring charges fade.
- •Debt and balance sheet: High financing costs and acquisition-driven debt are central risks for a company this size. Watch leverage closely.
- •Contract retention: The long-term contract base is the foundation. Any loss of council or commercial contracts would be a serious blow.
The Bottom Line
WasteCo is New Zealand's only listed waste company, an essential-services business that should be defensive but is mid-way through a painful safety and financial reset after two workplace fatalities. The bull case is a recovery story: an essential business with a contracted revenue base, growing revenue and positive EBITDA, at a heavily depressed price. The bear case is severe: a widening net loss, heavy debt and financing costs, unresolved regulatory investigations, and the profound governance failure the fatalities represent. This is a high-risk, distressed turnaround suitable only for investors who fully understand the operational and regulatory risks.
For how we assess distressed turnarounds and governance risk, see our methodology.
*Disclaimer: This article is for educational and informational purposes only. It does not constitute financial advice. Stock data may not be real-time. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.*