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RSGRepublic Services

Industrials · Waste Management · NYSE
RSG quote by TradingView
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FY2025 at a glance

Sales up 3.3%, free cash flow up to $2.4B

XBRL, from each 10-K
RevenueStatements ↓
$19.0B
from $18.4B in FY2024
FY2015FY2025
Net incomeStatements ↓
$2.1B
from $2.0B in FY2024
FY2015FY2025
Free cash flowStatements ↓
$2.4B
from $2.1B in FY2024
FY2015FY2025
EPS (diluted)Statements ↓
$6.85
from $6.49 in FY2024
FY2015FY2025
Operating marginStatements ↓
17.4%
from 17.4% in FY2024
FY2015FY2025
Total debtStatements ↓
$13.7B
from $12.8B in FY2024
FY2015FY2025
Price and key numbers

The latest figures

All key numbers (39, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)7.22Sales (ttm)19.7BNet income (ttm)2.2BSales growth+3.3%EPS growth+5.5%Sales Q/Q+7.8%
Free cash flow2.6BGross margin36.7%Oper. margin17.5%Net margin11.3%FCF margin13.0%ROE18.2%
ROA6.3%R&D / sales-Dividend2.41Debt/Eq1.15Curr. ratio0.75Cash92.0M
Op. cash flow (ttm)4.5BEBITDA5.1BEBITDA margin26.9%Net debt14.0BQuick ratio0.72Interest cover5.75
ROIC10.4%Payout ratio35.2%Tax rate17.5%Shares out.304.6MShares Y/Y-0.8%Book / share40.17
Cash / share0.30Sales / share64.70Asset turnover0.56Inventory turns90.85Days sales out.36Sales 3Y CAGR+6.7%
Sales 5Y CAGR+9.6%EPS 3Y CAGR+13.5%EPS 5Y CAGR+17.8%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

RSG against Industrials peers

Ten years, side by side → · All 83 →
GrowthProfitBalanceCleanInsiders
RSGPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 83 companies, the better end on the right. Hover a dot for the company.

Sales growth
+3.3%51st of 82 · median +4.8%
Net margin
11.3%47th of 82 · median 13.0%
Return on equity
18.2%46th of 77 · median 24.9%
Free cash flow margin
13.0%40th of 79 · median 13.0%
Debt / equity (less is better)
1.1553rd of 72 · median 0.72
RSG and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
RSG Republic Services$19.7B +3.3%36.7%11.3%18.2%13.0%1.15
EME Emcor$19.8B +16.6%19.6%7.8%36.1%7.5%-
GWW W. W. Grainger$19.4B +4.5%39.4%11.2%49.8%8.9%0.67
EMR Emerson Electric$19.0B +5.4%53.4%14.2%13.0%18.6%0.59
CHRW C.H. Robinson$18.2B -8.4%-3.7%42.3%2.9%1.18
LDOS Leidos$17.8B +3.1%17.3%8.0%27.4%11.0%1.17
Where each dollar goes

From $13.3B of sales to $1.3B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $6.6BRevenue to Cost of revenue: $6.7BGross profit to Operating profit: $2.1BGross profit to Operating expenses: $4.5BOperating profit to Net profit: $1.3BOperating profit to Tax & other: $785.8M Revenue: $13.3B Revenue$13.3B +11% Y/Y Gross profit: $6.6B · 49% margin Gross profit$6.6B49% margin Cost of revenue: $6.7B · 51% of revenue Cost of revenue$6.7B51% of revenue Operating profit: $2.1B · 16% margin Operating profit$2.1B16% margin +21% Y/Y Operating expenses: $4.5B · 34% of revenue Operating expenses$4.5B34% of revenue Net profit: $1.3B · 10% margin Net profit$1.3B10% margin +33% Y/Y Tax & other: $785.8M · 6% of revenue Tax & other$785.8M6% of revenue

Swipe sideways for the whole flow →

From $15.6B of sales to $1.5B of profit

FY2022, from the 10-K income statement and revenue by segment
Group1 to Revenue: $7.1BGroup2 to Revenue: $7.0BGroup3 to Revenue: $1.3BRevenue to Gross profit: $7.4BRevenue to Cost of revenue: $8.2BGross profit to Operating profit: $2.4BGross profit to Operating expenses: $5.0BOperating profit to Net profit: $1.5BOperating profit to Tax & other: $904.4M Group1: $7.1B · 46% Group1$7.1B46% Group2: $7.0B · 46% Group2$7.0B46% Group3: $1.3B · 8% Group3$1.3B8% Revenue: $15.6B Revenue$15.6B +17% Y/Y Gross profit: $7.4B · 48% margin Gross profit$7.4B48% margin Cost of revenue: $8.2B · 52% of revenue Cost of revenue$8.2B52% of revenue Operating profit: $2.4B · 15% margin Operating profit$2.4B15% margin +15% Y/Y Operating expenses: $5.0B · 32% of revenue Operating expenses$5.0B32% of revenue Net profit: $1.5B · 10% margin Net profit$1.5B10% margin +15% Y/Y Tax & other: $904.4M · 6% of revenue Tax & other$904.4M6% of revenue

Swipe sideways for the whole flow →

From $17.3B of sales to $1.7B of profit

FY2023, from the 10-K income statement and revenue by segment
Group1 to Revenue: $7.6BGroup2 to Revenue: $7.8BGroup3 to Revenue: $1.7BRevenue to Gross profit: $8.3BRevenue to Cost of revenue: $8.9BGross profit to Operating profit: $2.8BGross profit to Operating expenses: $5.6BOperating profit to Net profit: $1.7BOperating profit to Tax & other: $1.0B Group1: $7.6B · 44% Group1$7.6B44% Group2: $7.8B · 46% Group2$7.8B46% Group3: $1.7B · 10% Group3$1.7B10% Revenue: $17.3B Revenue$17.3B +10% Y/Y Gross profit: $8.3B · 48% margin Gross profit$8.3B48% margin Cost of revenue: $8.9B · 52% of revenue Cost of revenue$8.9B52% of revenue Operating profit: $2.8B · 16% margin Operating profit$2.8B16% margin +16% Y/Y Operating expenses: $5.6B · 32% of revenue Operating expenses$5.6B32% of revenue Net profit: $1.7B · 10% margin Net profit$1.7B10% margin +16% Y/Y Tax & other: $1.0B · 6% of revenue Tax & other$1.0B6% of revenue

Swipe sideways for the whole flow →

From $18.4B of sales to $2.0B of profit

FY2024, from the 10-K income statement and revenue by segment
Group1 to Revenue: $8.1BGroup2 to Revenue: $8.1BGroup3 to Revenue: $1.9BRevenue to Gross profit: $9.1BRevenue to Cost of revenue: $9.3BGross profit to Operating profit: $3.2BGross profit to Operating expenses: $5.9BOperating profit to Net profit: $2.0BOperating profit to Tax & other: $1.2B Group1: $8.1B · 45% Group1$8.1B45% Group2: $8.1B · 45% Group2$8.1B45% Group3: $1.9B · 10% Group3$1.9B10% Revenue: $18.4B Revenue$18.4B +7% Y/Y Gross profit: $9.1B · 49% margin Gross profit$9.1B49% margin Cost of revenue: $9.3B · 51% of revenue Cost of revenue$9.3B51% of revenue Operating profit: $3.2B · 17% margin Operating profit$3.2B17% margin +15% Y/Y Operating expenses: $5.9B · 32% of revenue Operating expenses$5.9B32% of revenue Net profit: $2.0B · 11% margin Net profit$2.0B11% margin +18% Y/Y Tax & other: $1.2B · 6% of revenue Tax & other$1.2B6% of revenue

Swipe sideways for the whole flow →

From $19.0B of sales to $2.1B of profit

FY2025, from the 10-K income statement and revenue by segment
Group1 to Revenue: $8.6BGroup2 to Revenue: $8.2BGroup3 to Revenue: $1.8BRevenue to Gross profit: $9.4BRevenue to Cost of revenue: $9.6BGross profit to Operating profit: $3.3BGross profit to Operating expenses: $6.1BOperating profit to Net profit: $2.1BOperating profit to Tax & other: $1.2B Group1: $8.6B · 46% Group1$8.6B46% Group2: $8.2B · 44% Group2$8.2B44% Group3: $1.8B · 10% Group3$1.8B10% Revenue: $19.0B Revenue$19.0B +3% Y/Y Gross profit: $9.4B · 49% margin Gross profit$9.4B49% margin Cost of revenue: $9.6B · 51% of revenue Cost of revenue$9.6B51% of revenue Operating profit: $3.3B · 17% margin Operating profit$3.3B17% margin +3% Y/Y Operating expenses: $6.1B · 32% of revenue Operating expenses$6.1B32% of revenue Net profit: $2.1B · 11% margin Net profit$2.1B11% margin +5% Y/Y Tax & other: $1.2B · 6% of revenue Tax & other$1.2B6% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

2 of 3
  • !
    Net margin below the peer median11.3% vs 13.0%
  • ✓
    Return on equity above 15%18.2%
  • ✓
    A profit in every one of 10 years
Net margin, FY2015 to FY2025: 5.4% → 11.2%

Balance sheet

1 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 5.8× interest expense
  • !
    Debt larger than equityDebt / equity 1.15 on the latest balance sheet (peer median 0.72)
  • !
    Current ratio below 1Current ratio 0.75
  • !
    Net debt over 3 years of free cash flow$14.0B net debt, 5.5 years
Debt / equity at each year end, FY2015 to FY2025: 1.00 → 1.15
What the debt is made of ↓

Cash and shareholders

4 of 4
  • ✓
    Free cash flow positive in every one of 10 years$2.4B last year
  • ✓
    Share count down over 5 years−2.4%
  • ✓
    Dividend per share up over 5 years$1.66 → $2.41
  • ✓
    Cash from operations above net income$4.3B vs $2.1B
Free cash flow, FY2015 to FY2025: 920.0M → 2.4B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$13.7B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2015 to FY2025

Revenue 19.0B Net income 2.1B
FY2015 revenue 11.4B · Revenues, 0001060391-19-000008 FY2015 net income 612.6M · NetIncomeLoss, 0001060391-19-000008 11.4B FY2015 FY2017 revenue 12.1B · Revenues, 0001060391-20-000016 FY2017 net income 1.3B · NetIncomeLoss, 0001060391-20-000016 12.1B FY2017 FY2018 revenue 11.9B · Revenues, 0001060391-21-000014 FY2018 net income 1.0B · NetIncomeLoss, 0001060391-21-000014 11.9B FY2018 FY2019 revenue 12.2B · Revenues, 0001060391-22-000007 FY2019 net income 1.1B · NetIncomeLoss, 0001060391-22-000007 12.2B FY2019 FY2020 revenue 12.0B · Revenues, 0001060391-23-000008 FY2020 net income 967.2M · NetIncomeLoss, 0001060391-23-000008 12.0B FY2020 FY2021 revenue 13.3B · Revenues, 0001060391-24-000142 FY2021 net income 1.3B · NetIncomeLoss, 0001060391-24-000142 13.3B FY2021 FY2022 revenue 15.6B · Revenues, 0001060391-25-000091 FY2022 net income 1.5B · NetIncomeLoss, 0001060391-25-000091 15.6B FY2022 FY2023 revenue 17.3B · Revenues, 0001060391-26-000094 FY2023 net income 1.7B · NetIncomeLoss, 0001060391-26-000094 17.3B FY2023 FY2024 revenue 18.4B · Revenues, 0001060391-26-000094 FY2024 net income 2.0B · NetIncomeLoss, 0001060391-26-000094 18.4B FY2024 FY2025 revenue 19.0B · Revenues, 0001060391-26-000094 FY2025 net income 2.1B · NetIncomeLoss, 0001060391-26-000094 19.0B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

RSG's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue19.0B
FY2015: 11.4BFY2017: 12.1BFY2018: 11.9BFY2019: 12.2BFY2020: 12.0BFY2021: 13.3BFY2022: 15.6BFY2023: 17.3BFY2024: 18.4BFY2025: 19.0B FY2017FY2019FY2021FY2023FY2025
Net income2.1B
FY2015: 612.6MFY2017: 1.3BFY2018: 1.0BFY2019: 1.1BFY2020: 967.2MFY2021: 1.3BFY2022: 1.5BFY2023: 1.7BFY2024: 2.0BFY2025: 2.1B FY2017FY2019FY2021FY2023FY2025
Free cash flow2.4B
FY2015: 920.0MFY2017: 920.9MFY2018: 1.2BFY2019: 1.1BFY2020: 1.3BFY2021: 1.5BFY2022: 1.7BFY2023: 2.0BFY2024: 2.1BFY2025: 2.4B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)6.85
FY2015: 1.78FY2017: 3.77FY2018: 3.16FY2019: 3.33FY2020: 3.02FY2021: 4.04FY2022: 4.69FY2023: 5.47FY2024: 6.49FY2025: 6.85 FY2017FY2019FY2021FY2023FY2025
Dividend per share2.41
FY2015: 1.24FY2017: 1.33FY2018: 1.44FY2019: 1.56FY2020: 1.66FY2021: 1.77FY2022: 1.91FY2023: 2.06FY2024: 2.23FY2025: 2.41 FY2017FY2019FY2021FY2023FY2025
Diluted shares312.2M
FY2015: 344.4MFY2017: 339.0MFY2018: 328.4MFY2019: 322.0MFY2020: 319.8MFY2021: 319.4MFY2022: 317.1MFY2023: 316.7MFY2024: 314.8MFY2025: 312.2M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Recycling And Solid Waste Segments 16.9B88.7% +4.1%
Group1 8.6B45.4% +6.2%
Group2 8.2B43.3% +2.0%
Group3 1.8B9.4% -4.1%

10-K 0001060391-26-000094, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Collection Service Line 11.2B59.0% +3.5%
Collection Service Line Smallcontainer 5.1B26.6% +4.9%
Landfill Service Line 3.2B16.8% +7.4%
Collection Service Line Largecontainer 3.1B16.3% +2.4%
Collection Service Line Residential 3.0B15.8% +2.4%
Transfer Service Line 1.8B9.6% +3.0%
Environmental Solutions Service Line 1.8B9.6% -4.1%
Other 824.0M4.3% +4.6%
Recycling processing and commodity sales 433.0M2.3% +5.9%
Other non-core 391.0M2.1% +3.2%
Collection Service Line Other 70.0M0.4% -2.8%

10-K 0001060391-26-000094, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2015FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue11.4B12.1B11.9B12.2B12.0B13.3B15.6B17.3B18.4B19.0B
Cost of revenue5.8B6.2B6.2B6.3B6.1B6.7B8.2B8.9B9.3B9.6B
SG&A969.8M1.1B1.1B1.1B1.1B1.2B1.5B1.6B1.7B1.7B
Operating income1.5B1.7B1.7B1.8B1.7B2.1B2.4B2.8B3.2B3.3B
Interest expense371.3M361.9M383.8M392.0M355.6M314.6M395.6M508.2M539.0M574.0M
Pretax income965.9M1.3B1.3B1.3B1.1B1.6B1.8B2.2B2.4B2.6B
Income tax352.7M3.1M283.3M222.0M173.1M282.8M344.0M460.0M388.0M455.0M
Net income612.6M1.3B1.0B1.1B967.2M1.3B1.5B1.7B2.0B2.1B
EPS (diluted)1.783.773.163.333.024.044.695.476.496.85
Diluted shares344.4M339.0M328.4M322.0M319.8M319.4M317.1M316.7M314.8M312.2M
Depreciation & amortization991.1M1.0B1.0B1.0B1.1B1.2B1.4B1.5B1.7B1.8B
EBITDA2.5B2.7B2.8B2.8B2.8B3.3B3.7B4.3B4.9B5.1B
Operating margin13.5%13.8%14.6%14.7%14.2%15.6%15.3%16.1%17.4%17.4%
Net margin5.4%10.6%8.7%8.8%8.0%9.7%9.5%10.0%11.1%11.2%
Revenue growth-+6.3%-1.4%+2.5%-1.3%+10.7%+17.4%+10.4%+6.6%+3.3%
EPS growth-+112%-16.2%+5.4%-9.3%+33.8%+16.1%+16.6%+18.6%+5.5%

Balance sheet

From EDGAR
FY2015FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash67.8M83.3M70.5M47.1M38.2M29.0M143.0M140.0M74.0M76.0M
Receivables994.8M1.1B1.1B1.1B1.1B1.3B1.7B1.8B1.8B1.9B
Inventory44.0M51.2M53.1M56.8M59.1M72.2M96.6M98.0M98.0M106.0M
Current assets1.3B1.4B1.6B1.6B1.5B1.7B2.4B2.4B2.4B2.5B
Property & equipment7.6B7.8B8.0B8.4B------
Goodwill11.2B11.3B11.4B11.6B12.0B12.8B14.5B15.8B16.0B16.7B
Total assets20.6B21.1B21.6B22.7B23.4B25.0B29.1B31.4B32.4B34.4B
Accounts payable553.8M598.1M761.5M777.9M779.0M910.0M1.2B1.4B1.3B1.4B
Current liabilities1.8B2.6B2.7B3.1B2.3B2.4B3.4B4.2B4.1B3.9B
Total debt7.7B8.2B8.4B8.8B9.1B9.7B11.9B12.8B12.8B13.7B
Shareholders' equity7.7B8.0B7.9B8.1B8.5B9.0B9.7B10.5B11.4B12.0B
Retained earnings3.3B4.2B4.8B5.3B5.8B6.5B7.4B8.4B9.8B11.2B

Cash flow

From EDGAR
FY2015FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow1.8B1.9B2.2B2.4B2.5B2.8B3.2B3.6B3.9B4.3B
Capital spending927.8M989.8M1.1B1.2B1.2B1.3B1.5B1.6B1.9B1.9B
Free cash flow920.0M920.9M1.2B1.1B1.3B1.5B1.7B2.0B2.1B2.4B
Stock-based pay (added back)23.2M34.6M39.0M39.5M37.3M57.0M39.0M41.0M42.0M-
Dividends paid418.9M440.5M461.8M491.2M522.5M552.6M593.0M638.0M687.0M738.0M
Buybacks403.8M610.7M736.9M399.4M98.8M252.2M203.0M262.0M482.0M870.0M
Acquisitions62.4M351.8M277.3M575.1M769.5M1.2B3.0B2.1B753.0M1.4B
Debt raised489.4M641.5M781.8M891.1M2.7B692.3M02.2B889.0M1.2B
Investing cash flow-964.5M-1.3B-1.2B-1.7B-1.9B-2.5B-4.4B-3.7B-2.6B-3.3B
Financing cash flow-856.8M-514.4M-1.1B-589.0M-612.0M-329.2M1.3B62.0M-1.4B-938.0M
Dividend per share1.241.331.441.561.661.771.912.062.232.41

Stock-based pay and leases

From EDGAR
FY2015FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)23.2M34.6M39.0M39.5M37.3M57.0M39.0M41.0M42.0M-
Stock-based pay / revenue0.2%0.3%0.3%0.3%0.3%0.4%0.2%0.2%0.2%-
Operating lease cash paid---97.3M86.9M91.4M151.6M177.0M181.0M174.0M
Finance lease principal paid---6.3M8.1M7.4M33.6M12.0M10.0M12.0M
Right-of-use assets--0243.6M218.8M255.3M275.1M238.0M232.0M208.0M
Operating lease liabilities--0264.0M240.1M277.2M295.9M249.7M244.0M225.0M
Finance lease liabilities---119.3M206.5M249.4M247.5M251.3M262.0M293.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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