MEDIUMBuilt-inGeographic
New England and Mid-Atlantic states
“10-K Item 1A: 'Our operations and customers are concentrated principally in New England, New York, Pennsylvania and other Mid-Atlantic states'”
CWST · Concentration risk · 10-K extracted
Casella Waste Systems (CWST) concentration risks
Updated
The most significant concentration Casella Waste Systems discloses is New England and Mid-Atlantic states, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Casella Waste Systems’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 1 disclosed concentration
HIGH0
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's only disclosed concentration is geographic: operations and customers are concentrated principally in New England, New York, Pennsylvania, and other Mid-Atlantic states. By disclosed size this is a medium share exposure, and its character is structural — the company's service footprint and permitted landfill capacity are physically anchored in this region, so the concentration reflects where the business was built and where its infrastructure sits, not a relationship that could be easily switched or withdrawn. Because waste collection and disposal are highly local businesses driven by municipal contracts, franchise agreements, and permit geography, a regional tilt of this kind is expected and inherent. The practical implication is that the company's results are meaningfully exposed to weather patterns, population trends, state-level environmental regulation, and regional economic activity in the northeastern United States rather than to national or global macro swings in the same way a coast-to-coast operator might be. On balance, this is a well-understood, single-axis exposure with no customer, supplier, or product concentration layered on top. The filing discloses no individual customer or counterparty that accounts for a material share of revenue. For investors, the key variable to monitor is the regulatory and permitting environment in the Northeast rather than any idiosyncratic counterparty risk, and the structural nature of the exposure limits the likelihood that it would shift abruptly.
For the engine’s reasoning on CWST’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Waste Management
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CWST● | Casella Waste Systems, Inc. | 0 | 1 | 0 | 1 |
| CLH | Clean Harbors, Inc. | 0 | 0 | 0 | 0 |
| RSG | Republic Services, Inc. | 0 | 0 | 0 | 0 |
| WCN | Waste Connections, Inc. | 0 | 0 | 0 | 0 |
| WM | Waste Management, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.