Maria
GFL is trading at 16.6x EV/EBITDA, net debt/EBITDA is currently around 5.7x; The company reinvested all the borrowed money to grow through acquisitions, while paying minimal dividends.
On the other hand, WCN is trading at 18.8x EV/EBITDA, and net debt/EBITDA is currently approximately 3.0x
WCN follows a more conservative approach between doing acquisitions and capital returns (dividends, share repurchases) while employing less leverage.
Although GFL could do very well if its acquisition strategy works. We would side with WCN today due to its conservative approach to financing and capital allocation. WCN is also significantly larger and less risky overall.