Republic Services Inc.

Refuse Systems

RSGStrained9 of 11 basics passed

$216.88

+0.02%

Market cap $66.4B

$216.88

+0.02%

Market cap $66.4B

Republic Services Group is the second-largest waste management company by revenue and provides integrated waste management services to residential, commercial, and industrial customers.

It is a $66.4B industrial company. Revenue grew 3.2% over the last year, it keeps 13¢ of every dollar of sales as profit, and its net debt equals ~5.1 years of free cash flow. It trades at 30.4× earnings — in the cheapest third of its own history.

Website: republicservices.com
Location: Phoenix, AZ
Employees: 42 000
Sector: Industrials

Share price · 3 years

$146.39 → $216.88+48.2%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $16.9B
Profit: keeps 13¢ of every $1 sold; $2.19B
Free cash flow: cash left after running the business; $2.65B
Net debt: debt minus cash on hand; $13.5B
P/E: years of profit in the price; 30.4
EPS: earnings per share, TTM; $7.00
Dividend: pays out 35% of profit · 29% of FCF; 1.15%
Shares: down 8% since 2017 — buybacks; 312.2M
Volatility: beta vs the market — under 1 swings less; 0.35

Revenue, last 9 years

52-week range

Low $197.73$216.88High $232.27

Today's price is 55% of the way from the year's low to its high.

P/E vs its history5y

30.4×median 32.1×

Higher than 28% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

30.4×

71%

P/S

3.9×

44%

EV/EBITDA

23.9×

65%

P/B

5.5×

41%

FCF yield

4.0%

82%

Share of the last ~5 years that was pricier than today (cheaper than usual). Based on the daily valuation record.

Insider activity · 90 days

+$289Mnet buying

Purchases$289M

Sales$0

Insiders trading, last 14d0 buy · 0 sell

Standing in Industrials

Size$66.4Btop 17%
Revenue growth+7%top 31%
Net margin13%top 30%
Return on equity18%top 49%
P/E30.4×top 60%
Dividend yield1.15%top 50%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Health lags behind.

Valuation64

P/E vs own history28th pct · 20/25
FCF yield4.0% · 12/25
P/S3.9x · 20/25
EV/EBITDA15.4x · 12/25

Growth72

Revenue CAGR10.1% · 20/25
Net income CAGR13.5% · 20/25
EPS CAGR ~5Y17.8% · 20/25
Fwd implied growth11.5% · 12/25

Profitability72

ROIC8.4% · 12/25
ROE18.3% · 20/25
Net margin12.9% · 20/25
Operating margin19.9% · 20/25

Health15

Altman Zn/a · 0/25
Current ratio0.64 · 0/25
Interest coverage4.6x · 10/25
Net cash / debtD/A 39% · 5/25

Quality100

Piotroski F8/9 · 25/25
Beneish M-2.74 · 25/25
FCF conversion121% · 25/25
Margin stabilityσ 1.4% · 25/25

Moat56

ROIC >12% years0/9 yrs · 0/25
Median gross margin39.9% · 13/25
FCF-positive years9/9 yrs · 25/25
Worst-year net marginworst 9.5% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

Q3 2026Insiders
15 open-market insider purchases
~1.3M shares bought by insiders
FY2025Financial
Best year on record
$2.14B net income
FY2017Financial
Profitable every year on record
9 consecutive profitable years in our data
FY2017Financial
Revenue already above $10B
$10.0B in first reported year
FY2017Financial
Positive free cash flow every year since
9-year streak
2017Product
In partnership with the Alabama Coastal Foundation (ACF) Republic Services launched an oyster shell…
2016Product
Republic Services and Mas Energy launched a new renewable energy project to serve the Atlanta…
1998IPO
Republic Industries completed the corporate spin-off of Republic Services via an initial public offering
1995Acquisition
Wayne Huizenga, formerly chairman of Waste Management, invested $64 million of his own money and raised an…

Achievements

Verifiable track record, straight from the reported numbers.

#23 largest of 130 Industrials companies by market cap

$10 000 invested in 2021 would be worth ~$17 357 today — price return only

$16.6B revenue in FY2025

Profitable 9 years in a row

Positive free cash flow 9 years in a row

42 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (42.0%)
Strong cash conversion — FCF is 15.7% of revenue
Piotroski F-Score 8/9 — fundamentally strong checklist

Watch-outs

Net debt equals ~5.1 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+3.2% YoY
Profitable — makes more than it spends$2.19B TTM
Profit growing — earnings are higher than last year+13.5% YoY
Generates cash — cash left after running and investing$2.65B TTM
Debt under control — could handle its obligations~5.1y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$66.4B market cap
Not printing shares — share count not ballooning — you keep your slice-2.4% shares over ~5y
Proven track record — years of profitability behind it9/9 profitable years
Financially stable — balance sheet not near distresshealth score 10/100
Pays a dividend — returns cash to shareholdersyield 1.15%
Valuation not extreme — price not wildly above earningsP/E 30.4

Peer comparisonRepublic Services Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
RSG this company	$66.4B	30.4	+3.2%	12.9%	Strained
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: RSG vs LRCX · RSG vs CAT · RSG vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 7Buy 11Hold 15

Appendix · Financial records

The full statements behind this CV, FY2017–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $16.9B · net income $2.19B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$16.9B

YoY 3.2%

Net income (TTM)

$2.19B

Margin 12.9%

Gross margin

42.0%

Operating margin

19.9%

P/E ratio

30.4

Dividend yield

1.15%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	10.2	11.3	13.5	15.0	16.0	16.6
Gross profit	4.1	4.6	5.3	6.0	6.7	7.0
Operating income (EBIT)	1.7	2.1	2.4	2.8	3.2	3.3
Net income	1.0	1.3	1.5	1.7	2.0	2.1
EPS (diluted)	3.02	4.04	4.69	5.47	6.49	6.85

Cash flowFree cash flow $2.65B · operating cash flow $4.54B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$2.65B

Margin 15.7%

Operating cash flow (TTM)

$4.54B

FCF margin

15.7%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	2.5	2.8	3.2	3.6	3.9	4.3
Capital expenditure	-1.2	-1.3	-1.5	-1.6	-1.9	-1.9
Free cash flow	1.3	1.5	1.7	2.0	2.1	2.4
FCF margin	12.6%	13.0%	12.8%	13.3%	13.0%	14.5%

Balance sheetAssets $34.4B · net debt $13.5B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $34.4B of assets is financed

65%

35%

Liabilities $22.4B — borrowed moneyEquity $12.0B — owners' stake

Cash vs debt

Total debt $13.6B − cash $76.0M = net debt $13.5B

Cash on hand covers 1% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

4.6x

EBIT ÷ interest expense

ROE

18.3%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.0	0.0	0.1	0.1	0.1	0.1
Total assets	23.4	25.0	29.1	31.4	32.4	34.4
Total liabilities	15.0	16.0	19.4	20.9	21.0	22.4
Total debt	8.9	9.6	11.8	12.8	12.7	13.6
Equity	8.5	9.0	9.7	10.5	11.4	12.0
Net debt	8.9	9.5	11.6	12.7	12.6	13.5

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of RSG on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $216.88 · market cap $66.4B.