The Prophet (peace be upon him) said,

"A person is on the religion of their close friends, so be careful of whose close company you keep." [Ahmad]

Ibn Ata'illah said:

"Only seek the company of those whose state uplifts you, or whose words guide you to Allah."

This is the core of one's company. Other company is sought to fulfill rights, spreading good, or seeking benefit, worldly or religious--without waste or harm.