...makes absolutely no sense....all three companies will have over 8x debt/free cash flow next year...potential growth differences are a non-event in that all three companies will be leverage constrained....also, all three companies only earn their respective costs of capital (7.5% area) - so how can they be valued at more than their capital base (as WCN is now?)

Therefore to value WCN based on public comparables yields a $15/share value, and to value it based on its capital base is $23/share....that is a good valuation range for this stock