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Republic Services, Inc. (RSG) 10-Year Financial Performance & Capital Metrics

RSG • • Industrial / General
IndustrialsWaste ManagementSolid Waste ManagementIntegrated Solid Waste Services
AboutRepublic Services, Inc., together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors. In addition, the company engages in the processing and sale of old corrugated containers, old newsprint, aluminum, glass, and other materials; and provision of landfill and transfer services. Further, it offers disposal of non-hazardous solid and liquid material and in-plant services, such as transportation and logistics. It serves small-container, large-container, and residential customers. As of December 31, 2021, the company operated through 356 collection operations, 239 transfer stations, 198 active landfills, 71 recycling processing centers, 6 saltwater disposal wells, and 7 deep injection wells, as well as 3 treatment, recovery, and disposal facilities in 41 states. It also operated 77 landfill gas-to-energy and renewable energy projects and had 124 closed landfills. The company was incorporated in 1996 and is based in Phoenix, Arizona.Show more
  • Revenue $16.03B +7.1%
  • EBITDA $5.01B +12.7%
  • Net Income $2.04B +18.0%
  • EPS (Diluted) 6.49 +18.6%
  • Gross Margin 30.55% +3.4%
  • EBITDA Margin 31.24% +5.2%
  • Operating Margin 20.11% +5.8%
  • Net Margin 12.74% +10.2%
  • ROE 18.62% +8.8%
  • ROIC 10.13% +7.1%
  • Debt/Equity 1.14 -8.4%
  • Interest Coverage 5.86 +9.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 9/9
  • ✓22 consecutive years of dividend growth
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Good 3Y average ROE of 17.2%
  • ✓Healthy 5Y average net margin of 11.3%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.2%
5Y9.25%
3Y12.38%
TTM4.33%

Profit (Net Income) CAGR

10Y14.07%
5Y13.74%
3Y16.55%
TTM6.92%

EPS CAGR

10Y15.55%
5Y14.28%
3Y17.12%
TTM7.52%

ROCE

10Y Avg9.54%
5Y Avg10.07%
3Y Avg10.8%
Latest11.63%

Peer Comparison

Integrated Solid Waste Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
WCNWaste Connections, Inc.42.92B167.6370.1411.19%5.89%7.75%2.73%1.07
RSGRepublic Services, Inc.65.25B210.7932.487.13%12.77%17.75%3.19%1.14
WMWaste Management, Inc.88.57B219.8632.288.01%10.35%26.93%2.44%2.90
GFLGFL Environmental Inc.14.86B42.72-20.254.61%52.22%64.43%2.34%1.46

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+9.12B9.39B10.04B10.04B10.3B10.15B11.29B13.51B14.96B16.03B
Revenue Growth %0.04%0.03%0.07%-0%0.03%-0.01%0.11%0.2%0.11%0.07%
Cost of Goods Sold+6.54B6.8B7.33B7.23B7.39B6.1B8.01B9.65B10.54B11.13B
COGS % of Revenue0.72%0.72%0.73%0.72%0.72%0.6%0.71%0.71%0.7%0.69%
Gross Profit+2.57B2.59B2.72B2.81B2.91B4.05B3.29B3.87B4.42B4.9B
Gross Margin %0.28%0.28%0.27%0.28%0.28%0.4%0.29%0.29%0.3%0.31%
Gross Profit Growth %0.19%0%0.05%0.03%0.04%0.39%-0.19%0.18%0.14%0.11%
Operating Expenses+987.6M2.09B1.06B1.05B1.08B2.34B1.2B1.45B1.58B1.67B
OpEx % of Revenue0.11%0.22%0.11%0.1%0.1%0.23%0.11%0.11%0.11%0.1%
Selling, General & Admin983.1M969.8M1.06B1.05B1.08B1.03B1.2B1.45B1.52B1.65B
SG&A % of Revenue0.11%0.1%0.11%0.1%0.1%0.1%0.11%0.11%0.1%0.1%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses4.5M1.12B1.2M001.32B0-1.6M57.7M27M
Operating Income+1.59B1.61B1.66B1.76B1.83B1.71B2.09B2.41B2.84B3.22B
Operating Margin %0.17%0.17%0.17%0.18%0.18%0.17%0.19%0.18%0.19%0.2%
Operating Income Growth %0.28%0.02%0.03%0.06%0.04%-0.07%0.22%0.15%0.18%0.13%
EBITDA+2.64B2.68B2.77B2.88B2.96B2.87B3.36B3.85B4.44B5.01B
EBITDA Margin %0.29%0.29%0.28%0.29%0.29%0.28%0.3%0.29%0.3%0.31%
EBITDA Growth %0.18%0.02%0.03%0.04%0.03%-0.03%0.17%0.15%0.15%0.13%
D&A (Non-Cash Add-back)1.05B1.07B1.12B1.11B1.12B1.16B1.27B1.44B1.6B1.78B
EBIT1.57B1.35B1.65B1.71B1.69B1.49B1.88B2.22B2.72B2.98B
Net Interest Income+-369.1M-386.5M-363M-383.8M-384.2M-346.4M-301.1M-383.5M-523.2M-541M
Interest Income800K900K1M1.6M6.4M5.2M2.5M3.3M6.5M9M
Interest Expense369.9M387.4M364M385.4M390.6M351.6M303.6M386.8M529.7M550M
Other Income/Expense-391.4M-646.3M-376.2M-443M-538.4M-566.4M-518.2M-580.9M-651.8M-792M
Pretax Income+1.2B965.9M1.28B1.32B1.3B1.14B1.58B1.83B2.19B2.43B
Pretax Margin %0.13%0.1%0.13%0.13%0.13%0.11%0.14%0.14%0.15%0.15%
Income Tax+445.5M352.7M3.1M283.3M222M173.1M282.8M343.9M460.1M388M
Effective Tax Rate %0.63%0.63%1%0.78%0.83%0.85%0.82%0.81%0.79%0.84%
Net Income+749.9M612.6M1.28B1.04B1.07B967.2M1.29B1.49B1.73B2.04B
Net Margin %0.08%0.07%0.13%0.1%0.1%0.1%0.11%0.11%0.12%0.13%
Net Income Growth %0.37%-0.18%1.09%-0.19%0.04%-0.1%0.33%0.15%0.16%0.18%
Net Income (Continuing)750.4M613.2M1.28B1.04B1.07B969.6M1.29B1.49B1.73B2.04B
Discontinued Operations0000000000
Minority Interest2.5M2.4M2.3M2.4M2.7M4.9M800K800K1M2M
EPS (Diluted)+2.131.783.773.163.333.024.044.695.476.49
EPS Growth %0.39%-0.16%1.12%-0.16%0.05%-0.09%0.34%0.16%0.17%0.19%
EPS (Basic)2.141.793.793.173.343.034.054.705.476.50
Diluted Shares Outstanding351.4M344.4M339M328.4M322M319.84M319.43M317.08M316.67M314.8M
Basic Shares Outstanding350M343M337.1M326.9M321.1M319.28M318.81M316.53M316.45M314.4M
Dividend Payout Ratio0.53%0.68%0.34%0.45%0.46%0.54%0.43%0.4%0.37%0.34%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.23B1.28B1.44B1.56B1.61B1.52B1.71B2.36B2.38B2.41B
Cash & Short-Term Investments32.4M67.8M83.3M70.5M47.1M38.2M29M143.4M140M74M
Cash Only32.4M67.8M83.3M70.5M47.1M38.2M29M143.4M140M74M
Short-Term Investments0000000000
Accounts Receivable1.09B1.09B1.22B1.35B1.4B1.33B1.51B1.98B1.99B2.07B
Days Sales Outstanding43.5942.4844.2449.149.7147.7548.7453.5748.5947.15
Inventory38.8M44M51.2M53.1M56.8M59.1M72.2M96.6M98M98M
Days Inventory Outstanding2.172.362.552.682.813.543.293.663.393.21
Other Current Assets4.5M5.5M6.4M4.5M11.6M6.7M3M5.5M11M9M
Total Non-Current Assets+19.31B19.35B19.71B20.05B21.08B21.91B23.24B26.7B29.03B30B
Property, Plant & Equipment7.55B7.59B7.78B8.02B8.63B8.95B9.49B11.02B11.59B12.11B
Fixed Asset Turnover1.21x1.24x1.29x1.25x1.19x1.14x1.19x1.23x1.29x1.32x
Goodwill11.15B11.16B11.32B11.4B11.63B12.05B12.83B14.45B15.83B15.98B
Intangible Assets246.4M182.3M141.1M106.5M133.9M173.1M259.5M347.2M496M546M
Long-Term Investments10.1M24.8M27.2M73M87.8M145.4M127.6M281.4M469M637M
Other Non-Current Assets350.8M386.2M449.1M452.9M595.6M602.3M543.7M596.6M641M722M
Total Assets+20.54B20.63B21.15B21.62B22.68B23.43B24.95B29.05B31.41B32.4B
Asset Turnover0.44x0.46x0.47x0.46x0.45x0.43x0.45x0.47x0.48x0.49x
Asset Growth %0.02%0%0.03%0.02%0.05%0.03%0.06%0.16%0.08%0.03%
Total Current Liabilities+1.83B1.81B2.63B2.72B3.04B2.28B2.42B3.39B4.23B4.13B
Accounts Payable577.4M553.8M598.1M761.5M777.9M779M910M1.22B1.41B1.34B
Days Payables Outstanding32.2229.7329.7938.4538.4346.6141.4946.2348.8944.09
Short-Term Debt5.5M5.8M706.7M690.7M929.9M168.1M8.2M456M932M862M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities331M307.5M303.1M309.2M341.1M316.1M349M353.3M393M409M
Current Ratio0.67x0.71x0.55x0.58x0.53x0.67x0.71x0.70x0.56x0.58x
Quick Ratio0.65x0.68x0.53x0.56x0.51x0.64x0.68x0.67x0.54x0.56x
Cash Conversion Cycle13.5315.1216.9913.3314.094.6810.5510.993.096.27
Total Non-Current Liabilities+10.92B11.12B10.55B10.97B11.5B12.66B13.56B15.98B16.64B16.87B
Long-Term Debt7.53B7.65B7.48B7.65B7.76B8.77B9.55B11.33B11.89B11.85B
Capital Lease Obligations0000212.5M206.6M239M238M195M189M
Deferred Tax Liabilities1.13B1.21B796.4M1.03B1.18B1.24B1.23B1.53B1.53B1.59B
Other Non-Current Liabilities2.27B2.26B2.27B2.29B2.35B2.45B2.54B2.88B3.03B3.23B
Total Liabilities12.76B12.94B13.19B13.69B14.56B14.95B15.98B19.37B20.87B21B
Total Debt+7.53B7.66B8.19B8.34B8.95B9.17B9.83B12.08B13.07B12.96B
Net Debt7.5B7.59B8.1B8.27B8.91B9.14B9.8B11.94B12.93B12.88B
Debt / Equity0.97x1.00x1.03x1.05x1.10x1.08x1.09x1.25x1.24x1.14x
Debt / EBITDA2.86x2.86x2.95x2.90x3.03x3.20x2.92x3.14x2.94x2.59x
Net Debt / EBITDA2.84x2.83x2.92x2.87x3.01x3.19x2.92x3.10x2.91x2.57x
Interest Coverage4.29x4.16x4.56x4.58x4.70x4.86x6.89x6.24x5.37x5.86x
Total Equity+7.78B7.69B7.96B7.93B8.12B8.49B8.98B9.69B10.54B11.41B
Equity Growth %0%-0.01%0.03%-0%0.02%0.05%0.06%0.08%0.09%0.08%
Book Value per Share22.1322.3423.4824.1525.2226.5428.1130.5533.2936.24
Total Shareholders' Equity7.77B7.69B7.96B7.93B8.12B8.48B8.98B9.69B10.54B11.4B
Common Stock3.5M3.5M3.5M3.5M3.5M3.2M3.2M3.2M3M3M
Retained Earnings3.14B3.32B4.15B4.75B5.32B5.75B6.48B7.36B8.43B9.77B
Treasury Stock-14.9M-414.9M-1.06B-1.78B-2.2B-100K-274.8M-504.6M-784M-113M
Accumulated OCI-30.5M14.2M22.6M30.8M2.2M-12.4M-14.6M-12.1M-12M-26M
Minority Interest2.5M2.4M2.3M2.4M2.7M4.9M800K800K1M2M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+1.68B1.85B1.91B2.24B2.35B2.47B2.79B3.19B3.62B3.94B
Operating CF Margin %0.18%0.2%0.19%0.22%0.23%0.24%0.25%0.24%0.24%0.25%
Operating CF Growth %0.09%0.1%0.03%0.17%0.05%0.05%0.13%0.14%0.13%0.09%
Net Income750.4M613.2M1.28B1.04B1.07B969.6M1.29B1.49B1.73B2.04B
Depreciation & Amortization1.05B1.07B1.12B1.11B1.12B1.16B1.27B1.44B1.6B1.78B
Stock-Based Compensation18.9M23.2M34.6M39M39.5M37.3M57M38.8M40.9M42M
Deferred Taxes116.7M47.2M-379M152.1M166.1M60.8M-15.5M181.1M101.7M87M
Other Non-Cash Items-261.5M122.5M-45.2M-29.1M40M252.9M162M153M119.4M239M
Working Capital Changes5.2M-28.5M-94.8M-70.9M-89.7M-7.8M22.7M-111.7M25.1M-260M
Change in Receivables-15.7M-52.3M-118.9M-29.6M-38.3M13.8M-135.4M-198.8M-71.3M-76M
Change in Inventory-8.7M-1.1M-36.4M-152.5M-109.7M6.5M0000
Change in Payables35.6M-9.8M21.7M85.9M6.4M-46.7M113.8M106.4M82.8M-27M
Cash from Investing+-1.48B-961.2M-1.38B-1.23B-1.72B-1.92B-2.47B-4.42B-3.67B-2.56B
Capital Expenditures-945.6M-927.8M-989.8M-1.07B-1.21B-1.19B-1.32B-1.45B-1.63B-1.85B
CapEx % of Revenue0.1%0.1%0.1%0.11%0.12%0.12%0.12%0.11%0.11%0.12%
Acquisitions----------
Investments----------
Other Investing35.5M14M-43.6M31.3M21.6M30.1M18.5M18.8M52.1M47M
Cash from Financing+-239.7M-851.2M-511.8M-1.06B-589M-612M-329.2M1.34B61.9M-1.4B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-399.3M-418.9M-440.5M-461.8M-491.2M-522.5M-552.6M-592.9M-638.1M-687M
Share Repurchases----------
Other Financing63.7M-122.2M29.6M10.5M-8.1M-110.9M-54.5M-24M-20.8M-15M
Net Change in Cash----------
Free Cash Flow+734.1M920M920.9M1.17B1.15B1.28B1.47B1.74B1.99B2.08B
FCF Margin %0.08%0.1%0.09%0.12%0.11%0.13%0.13%0.13%0.13%0.13%
FCF Growth %0.09%0.25%0%0.27%-0.02%0.12%0.15%0.18%0.14%0.05%
FCF per Share2.092.672.723.573.563.994.605.476.276.61
FCF Conversion (FCF/Net Income)2.24x3.02x1.49x2.16x2.19x2.56x2.16x2.14x2.09x1.93x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)9.66%7.92%16.33%13.05%13.37%11.65%14.77%15.94%17.11%18.62%
Return on Invested Capital (ROIC)7.93%7.91%7.93%8.2%8.28%7.4%8.62%8.96%9.46%10.13%
Gross Margin28.25%27.56%27.05%28%28.26%39.92%29.12%28.61%29.56%30.55%
Net Margin8.23%6.53%12.73%10.33%10.42%9.53%11.42%11.01%11.57%12.74%
Debt / Equity0.97x1.00x1.03x1.05x1.10x1.08x1.09x1.25x1.24x1.14x
Interest Coverage4.29x4.16x4.56x4.58x4.70x4.86x6.89x6.24x5.37x5.86x
FCF Conversion2.24x3.02x1.49x2.16x2.19x2.56x2.16x2.14x2.09x1.93x
Revenue Growth3.72%2.99%6.99%-0.04%2.59%-1.42%11.24%19.62%10.76%7.13%

Revenue by Segment

2015201620172018201920202021202220232024
Collection Service Line - Small-container---3.06B3.17B3.11B3.42B3.95B4.44B4.82B
Collection Service Line - Small-container Growth----3.68%-1.99%10.01%15.45%12.49%8.60%
Collection Service Line - Large-container---2.18B2.25B2.15B2.38B2.7B2.92B3.02B
Collection Service Line - Large-container Growth----3.14%-4.48%10.68%13.57%8.19%3.48%
Collection Service Line - Residential---2.24B2.27B2.31B2.45B2.64B2.82B2.94B
Collection Service Line - Residential Growth----1.65%1.63%6.23%7.74%6.82%4.12%
Environmental Solutions Service Line----191.8M127.7M202.5M1.26B1.7B1.91B
Environmental Solutions Service Line Growth------33.42%58.57%523.26%34.81%12.08%
Other Service Line - Sale Of Recycled Commodities--------312.3M409M
Other Service Line - Sale Of Recycled Commodities Growth---------30.96%
Other Service Line - Other Non-core--------329.6M379M
Other Service Line - Other Non-core Growth---------14.99%
Collection Service Line - Other---43.8M46.1M51.5M59.6M53.9M69.4M72M
Collection Service Line - Other Growth----5.25%11.71%15.73%-9.56%28.76%3.75%
Collection Service Line---7.52B7.74B7.62B8.31B9.34B--
Collection Service Line Growth----2.93%-1.57%9.09%12.45%--
Service Line Two2.8B2.88B3B-------
Service Line Two Growth-2.77%4.10%-------
Service Line One2.24B2.24B2.29B-------
Service Line One Growth--0.12%2.05%-------
Service Line Three1.89B1.98B2.09B-------
Service Line Three Growth-4.53%5.67%-------
Service Line Other39.8M38.2M44.2M-------
Service Line Other Growth--4.02%15.71%-------

Revenue by Geography

2015201620172018201920202021202220232024
CANADA--------169.9M182M
CANADA Growth---------7.12%

Frequently Asked Questions

Valuation & Price

Republic Services, Inc. (RSG) has a price-to-earnings (P/E) ratio of 32.5x. This suggests investors expect higher future growth.

Growth & Financials

Republic Services, Inc. (RSG) reported $16.50B in revenue for fiscal year 2024. This represents a 101% increase from $8.20B in 2011.

Republic Services, Inc. (RSG) grew revenue by 7.1% over the past year. This is steady growth.

Yes, Republic Services, Inc. (RSG) is profitable, generating $2.11B in net income for fiscal year 2024 (12.7% net margin).

Dividend & Returns

Yes, Republic Services, Inc. (RSG) pays a dividend with a yield of 1.04%. This makes it attractive for income-focused investors.

Republic Services, Inc. (RSG) has a return on equity (ROE) of 18.6%. This is reasonable for most industries.

Republic Services, Inc. (RSG) generated $2.53B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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