Republic Services (RSG)
Industrials · $65.5B market cap · SEC CIK 0001060391
fundamentals score out of 100
Next reports on Oct 22, 2026, after the close, with analysts expecting $1.95 in earnings per share.
The case for RSG
- Has compounded revenue at 10.3% a year over five years.
- Return on equity of 18%.
- Moves less than the market (beta 0.35).
- Pays a modest 1.3% dividend.
The case against
- A PEG of 7.2: a P/E of 30.0× is a lot to pay for EPS growing 4%.
- Current liabilities exceed current assets (ratio 0.64).
- Long-term debt of $13.7B against $76.0M of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 46 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 52 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 55 |
| Momentumhow the price has behaved lately | 48 |
| Stabilityhow violently it moves, what it owes and what it pays you | 84 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 30.0× |
|---|---|
| Price / book | 5.45× |
| Price / sales | 3.9× |
| Revenue growth (YoY) | +3.2% |
| EPS growth (YoY) | +4.2% |
| Gross margin | 42% |
| Operating margin | 20% |
| Net margin | 13% |
| Return on equity | 18% |
| Debt / equity | 1.17× |
| Current ratio | 0.64 |
| Dividend yield | 1.33% |
| Beta | 0.35 |
| 52-week range | $196.41 – $233.42 |
| Position in that range | 47% of the way up |
| 3-month return | +4.4% |
| 1-year return | -5.7% |
Five years of financials, as filed
Pulled from Republic Services's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $16.6B | $16.0B | $15.0B | $13.5B | $11.3B |
| Operating income | $3.3B | $3.2B | $2.8B | $2.4B | $2.1B |
| Net income | $2.1B | $2.0B | $1.7B | $1.5B | $1.3B |
| Operating cash flow | $4.3B | $3.9B | $3.6B | $3.2B | $2.8B |
| Capital expenditure | $1.9B | $1.9B | $1.6B | $1.5B | $1.3B |
| Total assets | $34.4B | $32.4B | $31.4B | $29.1B | $25.0B |
| Shareholder equity | $12.0B | $11.4B | $10.5B | $9.7B | $9.0B |
| Cash | $76.0M | $74.0M | $140M | $143M | $29.0M |
| Long-term debt | $13.7B | $12.8B | $12.8B | $11.9B | $9.7B |
| Free cash flow | $2.4B | $2.1B | $2.0B | $1.7B | $1.5B |
| Operating margin | 19.9% | 19.9% | 18.6% | 17.7% | 18.4% |
| Net margin | 12.9% | 12.7% | 11.6% | 11.0% | 11.4% |
| Diluted shares | 312M | 315M | 317M | 317M | 319M |
Share count is essentially flat over 4 years.
What Republic Services says it does
Overview Republic Services is one of the largest providers of environmental services in North America, as measured by revenue. We operate across the United States and Canada through 377 collection operations, 255 transfer stations, 79 recycling centers, 207 active landfills, 2 treatment, recovery and disposal facilities, 24 treatment, storage and disposal facilities (TSDF), 5 salt water disposal wells, 15 deep injection wells, 9 industrial wastewater treatment facilities, and 2 polymer centers. We are engaged in 84 landfill gas-to-energy and other renewable energy projects and had post-closure responsibility for 124 closed landfills. We believe the total addressable United States and Canada environmental services market in which we operate generates approximately $163 billion of annual revenue, which includes the $110 billion recycling and waste industry, $37 billion of the broader environmental solutions industry, and $16 billion in…
Risk factors RSG lists in its 10-K
- Management's Discussion and Analysis of Financial Condition and Results of Operations
- Gain on extinguishment of debt and other related costs, net
- Gain on certain divestitures and impairments, net
- Settlements and withdrawals on pension plans
- Depreciation, Amortization and Depletion of Property and Equipment
- Amortization of Other Intangible Assets
- Selling, General and Administrative Expenses
- Gain on Business Divestitures and Impairments, Net
- Adjustment to Withdrawal Liability for Multiemployer Pension Funds
- Business Acquisitions, Investments and Restructuring Charges
- Summary of Significant Accounting Policies,
- Critical Accounting Judgments and Estimates
- Final Capping, Closure and Post-Closure Costs
- Remediation and Other Charges for Landfill Matters