Republic Services, Inc. (RSG) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$1.82	$1.85	+1.6%	—	—	—
Q2 26	$1.64	$1.7	+3.7%	—	—	—
Q1 26	$1.63	$1.76	+8.0%	—	—	—
Q4 25	$1.78	$1.9	+6.7%	—	—	—
Q3 25	$1.76	$1.77	+0.6%	—	—	—
Q2 25	$1.53	$1.58	+3.3%	—	—	—
Q1 25	$1.39	$1.58	+13.7%	—	—	—
Q4 24	$1.61	$1.81	+12.4%	—	—	—
Q3 24	$1.53	$1.61	+5.2%	—	—	—
Q2 24	$1.35	$1.45	+7.4%	—	—	—
Q1 24	$1.29	$1.41	+9.3%	—	—	—
Q4 23	$1.42	$1.54	+8.5%	—	—	—
Q3 23	$1.32	$1.41	+6.8%	—	—	—
Q2 23	$1.13	$1.24	+9.7%	—	—	—
Q1 23	$1.02	$1.13	+10.8%	—	—	—
Q4 22	$1.22	$1.34	+9.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6.86	—	—	$16.6B	—
FY24	—	$6.5	—	—	$16B	—
FY23	—	$5.47	—	—	$15B	—
FY22	—	$4.7	—	—	$13.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.4B	$10B	$10B	$10.3B	$10.2B	$11.3B	$13.5B	$15B	$16B	$16.6B
YoY change	+2.99%	+6.96%	-0.01%	+2.57%	-1.42%	+11.2%	+19.6%	+10.8%	+7.13%	+3.49%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.4B	10B	10B	10.3B	10.2B	11.3B	13.5B	15B	16B	16.6B
Cost of revenue	5.8B	6.2B	6.2B	6.3B	6.1B	6.7B	8.2B	8.9B	9.3B	9.6B
Gross profit	3.6B	3.8B	3.9B	4B	4.1B	4.6B	5.3B	6B	6.7B	7B
Gross margin	38.6%	38.1%	38.8%	38.8%	39.9%	40.3%	39.3%	40.2%	41.7%	42%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	949.4M	1.1B	1.1B	1.1B	1B	1.2B	1.3B	1.5B	1.6B	1.7B
Operating expenses	1B	1.1B	1.1B	1.2B	1.1B	1.3B	1.4B	1.6B	1.8B	1.8B
Operating income	1.6B	1.7B	1.7B	1.8B	1.8B	2.1B	2.5B	2.8B	3.2B	3.3B
Operating margin	16.9%	16.5%	17.1%	17.3%	18.1%	18.5%	18.4%	19%	20.1%	20%
Non-operating income, net	-247.4M	-10.4M	-14.2M	-105.3M	-348.2M	-206.1M	-264M	-154.6M	-262M	-162M
Pretax income	965.9M	1.3B	1.3B	1.3B	1.1B	1.6B	1.8B	2.2B	2.4B	2.6B
Income tax	352.7M	3.1M	283.3M	222M	173.1M	282.8M	343.9M	460.1M	388M	455M
Net income	613.2M	1.3B	1B	1.1B	969.6M	1.3B	1.5B	1.7B	2B	2.1B
Net margin	6.53%	12.7%	10.3%	10.4%	9.55%	11.4%	11%	11.6%	12.7%	12.9%
EBITDA	2.6B	2.7B	2.8B	2.8B	2.9B	3.2B	3.8B	4.4B	4.8B	5.1B
EPS	1.79	3.79	3.17	3.34	3.03	4.05	4.7	5.47	6.5	6.86
Diluted EPS	1.78	3.77	3.16	3.33	3.02	4.04	4.69	5.47	6.49	6.85

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.8B	3.8B	3.9B	4B	4.1B	4B	4B	4.2B	4.2B	4.1B	4.1B	4.4B
Cost of revenue	2.3B	2.3B	2.3B	2.4B	2.4B	2.3B	2.3B	2.4B	2.5B	2.4B	2.4B	2.6B
Gross profit	1.5B	1.6B	1.6B	1.7B	1.7B	1.7B	1.7B	1.8B	1.7B	1.7B	1.7B	1.9B
Gross margin	40.3%	40.9%	40.9%	41.1%	41.9%	42.7%	42.3%	42.2%	41.5%	41.9%	42.5%	42.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	377M	407.6M	406.7M	395.1M	406M	439.3M	417M	417M	413M	423M	413M	429M
Operating expenses	401.6M	432.3M	433.3M	421.8M	432.7M	466.2M	445M	445M	442M	453M	443M	459M
Operating income	738.8M	718.5M	738.7M	818.1M	854.6M	812.6M	807M	870M	839M	807M	831M	905M
Operating margin	19.3%	18.8%	19.1%	20.2%	21%	20.1%	20.1%	20.5%	19.9%	19.5%	20.2%	20.4%
Non-operating income, net	-6.9M	-107.7M	-2M	-37.4M	-74.2M	-148.3M	-3M	-7M	-53M	-99M	-26M	-57M
Pretax income	606.3M	482.9M	598.9M	654M	646.5M	532.7M	665M	720M	645M	564M	656M	699M
Income tax	126M	43.2M	145.2M	142.1M	80.6M	20.2M	170M	170M	95M	20M	131M	133M
Net income	480.3M	439.7M	453.7M	511.9M	565.9M	512.5M	495M	550M	550M	544M	525M	566M
Net margin	12.6%	11.5%	11.7%	12.6%	13.9%	12.7%	12.3%	13%	13.1%	13.2%	12.8%	12.8%
EBITDA	1.2B	1.1B	1.2B	1.2B	1.2B	1.1B	1.3B	1.4B	1.3B	1.2B	1.3B	1.4B
EPS	1.52	1.4	1.44	1.62	1.8	1.63	1.58	1.76	1.76	1.76	1.7	1.84
Diluted EPS	1.52	1.39	1.44	1.62	1.8	1.63	1.58	1.75	1.76	1.76	1.7	1.84

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	19.6B	22.8B	23.6B	28.8B	30.7B	44.5B	40.8B	52.1B	63.3B	66.1B	65.2B
Enterprise value	27.2B	30.9B	31.8B	37.7B	39.9B	54.3B	52.8B	65.1B	76.1B	79.8B	79.1B
Shares outstanding	343M	337.1M	326.9M	321.1M	319.3M	318.8M	316.5M	316.2M	314.4M	311.9M	311.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	31.9	17.8	22.7	26.8	31.7	34.4	27.4	30.1	30.9	30.9	30.2
P/S	2.08	2.27	2.35	2.79	3.03	3.94	3.02	3.48	3.95	3.98	3.87
P/B	2.54	2.86	2.97	3.54	3.62	4.95	4.21	4.95	5.54	5.52	5.43
EV/EBITDA	10.2	11.3	11.4	13.4	13.8	17.1	14	14.9	15.9	15.6	15.1
EV/Sales	2.89	3.08	3.17	3.66	3.93	4.8	3.91	4.35	4.75	4.81	4.68
Earnings yield	3.13%	5.61%	4.4%	3.73%	3.15%	2.91%	3.64%	3.32%	3.23%	3.24%	3.31%
FCF yield	4.7%	4.04%	4.97%	3.98%	4.15%	3.31%	4.25%	3.81%	3.29%	3.64%	2.98%
PEG	—	—	—	—	—	—	—	—	—	—	6.65

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	38.6%	38.1%	38.8%	38.8%	39.9%	40.3%	39.3%	40.2%	41.7%	42%	42.1%
Operating margin	16.9%	16.5%	17.1%	17.3%	18.1%	18.5%	18.4%	19%	20.1%	20%	20.4%
Net margin	6.53%	12.7%	10.3%	10.4%	9.55%	11.4%	11%	11.6%	12.7%	12.9%	12.9%
ROE	7.97%	16.1%	13.1%	13.2%	11.4%	14.4%	15.4%	16.4%	17.9%	17.9%	18.2%
ROA	2.97%	6.05%	4.8%	4.73%	4.14%	5.18%	5.12%	5.51%	6.31%	6.22%	6.17%
ROIC	6.58%	10.3%	8.33%	8.7%	8.86%	9.14%	9.34%	9.59%	11.2%	10.7%	11%
Return on tangible assets	-29.7%	-72.4%	-74.3%	-126.2%	-96.5%	-106.3%	-273.2%	-138.4%	-312.5%	-571.9%	-348.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.71	0.55	0.58	0.52	0.67	0.71	0.7	0.56	0.58	0.64	0.64
Quick ratio	0.68	0.53	0.56	0.51	0.64	0.68	0.67	0.54	0.56	0.62	0.62
Debt / equity	1	1.03	1.05	1.1	1.08	1.09	1.25	1.24	1.14	1.15	1.19
Debt / assets	0.37	0.39	0.39	0.39	0.39	0.39	0.42	0.42	0.4	0.4	0.41
Net debt / EBITDA	2.86	2.95	2.95	3.17	3.16	3.09	3.17	2.96	2.69	2.68	2.75
Interest coverage	3.6	4.54	4.44	4.31	4.21	6.01	5.63	5.31	5.51	5.52	5.34
Effective tax rate	36.5%	0.24%	21.4%	17.1%	15.1%	18%	18.8%	21%	16%	17.5%	14.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	27.4	29.8	30.7	32.1	31.8	35.4	42.7	47.3	51	53.2	54.6
EPS (basic)	1.79	3.79	3.17	3.34	3.03	4.05	4.7	5.47	6.5	6.86	6.86
EPS (diluted)	1.78	3.77	3.16	3.33	3.02	4.04	4.69	5.47	6.49	6.85	7.06
Book value per share	22.4	23.6	24.3	25.3	26.6	28.2	30.6	33.3	36.3	38.4	39.3
FCF per share	2.68	2.73	3.58	3.57	4	4.61	5.48	6.28	6.62	7.72	8.62
Cash per share	0.2	0.25	0.22	0.15	0.12	0.09	0.45	0.44	0.24	0.24	0.35
Capex per share	2.68	2.92	3.18	3.69	3.65	4.07	4.49	5.07	5.75	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	9.78%	9.8%	10.4%	11.5%	11.5%	11.5%	10.5%	10.7%	11.3%	—	—
Capex / operating cash flow	55.5%	50.3%	43.2%	49.7%	53.9%	49.2%	46.2%	45.8%	47.1%	—	—
Payout ratio	68.3%	34.4%	44.5%	45.7%	53.9%	42.8%	39.9%	36.9%	33.6%	34.5%	35.4%
Dividend yield	2.14%	1.93%	1.96%	1.71%	1.7%	1.24%	1.45%	1.22%	1.09%	1.12%	1.17%

Yield

1.17%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.625

ex-dividend Jul 2, 2026

Payout ratio

35%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 2, 2026	$0.625
Apr 2, 2026	$0.625
Jan 2, 2026	$0.625

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.8B	$3.8B	$3.9B	$4B	$4.1B	$4B	$4B	$4.2B	$4.2B	$4.1B	$4.1B	$4.4B
YoY change	+6.34%	+8.55%	+7.85%	+8.64%	+6.54%	+5.6%	+3.81%	+4.62%	+3.33%	+2.2%	+2.59%	+4.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	67.8M	83.3M	70.5M	47.1M	38.2M	29M	143.4M	140M	74M	76M
Receivables	994.8M	1.1B	1.1B	1.1B	1.1B	1.3B	1.7B	1.8B	1.8B	1.9B
Inventory	44M	51.2M	53.1M	56.8M	59.1M	72.2M	96.6M	97.3M	98M	106M
Total current assets	1.3B	1.4B	1.6B	1.6B	1.5B	1.7B	2.4B	2.4B	2.4B	2.5B
Property, plant & equipment	6.4B	6.6B	6.7B	7.3B	7.5B	8B	9.3B	9.7B	10B	10.3B
Goodwill & intangibles	22.7B	22.9B	23B	23.5B	24.4B	26.2B	29.6B	32.7B	33.1B	34.7B
Total assets	20.6B	21.1B	21.6B	22.7B	23.4B	25B	29.1B	31.4B	32.4B	34.4B
Accounts payable	553.8M	598.1M	761.5M	777.9M	779M	910M	1.2B	1.4B	1.3B	1.4B
Short-term debt	5.8M	706.7M	690.7M	981.4M	201.6M	46.4M	513.9M	987.1M	917M	644M
Total current liabilities	1.8B	2.6B	2.7B	3.1B	2.3B	2.4B	3.4B	4.2B	4.1B	3.9B
Long-term debt	7.7B	7.5B	7.6B	8B	9B	9.8B	11.6B	12.1B	12B	13.2B
Total liabilities	12.9B	13.2B	13.7B	14.6B	14.9B	16B	19.4B	20.9B	21B	22.4B
Shareholders' equity	7.7B	8B	7.9B	8.1B	8.5B	9B	9.7B	10.5B	11.4B	12B
Total debt	7.7B	8.2B	8.3B	9B	9.2B	9.8B	12.1B	13.1B	13B	13.8B
Net debt	7.6B	8.1B	8.3B	8.9B	9.1B	9.8B	11.9B	12.9B	12.9B	13.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	84M	76M	118M	107M
Receivables	—	—	—	—	—	—	—	—	1.9B	1.9B	1.9B	2B
Inventory	—	—	—	—	—	—	—	—	103M	106M	114M	115M
Total current assets	—	—	—	—	—	—	—	—	2.5B	2.5B	2.5B	2.6B
Property, plant & equipment	—	—	—	—	—	—	—	—	10B	10.3B	10.2B	10.4B
Goodwill & intangibles	—	—	—	—	—	—	—	—	34.6B	34.7B	35.1B	35.8B
Total assets	—	—	—	—	—	—	—	—	33.8B	34.4B	34.6B	35.2B
Accounts payable	—	—	—	—	—	—	—	—	1.2B	1.4B	1.2B	1.4B
Short-term debt	984.8M	987M	1.5B	1.5B	567M	917M	477M	476M	975M	644M	596M	597M
Total current liabilities	—	—	—	—	—	—	—	—	4.3B	3.9B	3.7B	4B
Long-term debt	—	—	—	—	—	—	—	—	12.5B	13.2B	13.5B	13.7B
Total liabilities	—	—	—	—	—	—	—	—	21.9B	22.4B	22.6B	23.1B
Shareholders' equity	—	—	—	—	—	—	—	—	11.9B	12B	12B	12B
Total debt	984.8M	987M	1.5B	1.5B	567M	917M	477M	476M	13.5B	13.8B	14.1B	14.3B
Net debt	—	—	—	—	—	—	—	—	13.4B	13.7B	14B	14.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	613.2M	1.3B	1B	1.1B	969.6M	1.3B	1.5B	1.7B	2B	2.1B
Depreciation & amortization	1.1B	1.1B	1.1B	1.1B	1.2B	1.3B	1.4B	1.6B	1.8B	1.9B
Stock-based compensation	23.2M	34.6M	39M	39.5M	37.3M	57M	38.8M	40.9M	42M	—
Change in working capital	7.3M	-19.6M	110.3M	79.1M	4.3M	79.7M	-27.9M	54.9M	-89M	-61M
Operating cash flow	1.7B	2B	2.4B	2.4B	2.2B	2.6B	3.1B	3.5B	3.8B	4.3B
Capital expenditure	-918M	-983.7M	-1B	-1.2B	-1.2B	-1.3B	-1.4B	-1.6B	-1.8B	—
Investing cash flow	-964.5M	-1.3B	-1.2B	-1.7B	-1.9B	-2.5B	-4.4B	-3.7B	-2.6B	-1.4B
Dividends paid	-418.9M	-440.5M	-461.8M	-491.2M	-522.5M	-552.6M	-592.9M	-638.1M	-687M	-738M
Share repurchases	-403.8M	-610.7M	-736.9M	-399.4M	-98.8M	-264.2M	-217.1M	-263M	-496M	-875M
Financing cash flow	-856.8M	-514.4M	-1.1B	-589M	-612M	-5.6B	-12.9B	-40.3B	-1.4B	-938M
Net change in cash	-166.3M	110.8M	121.7M	76.9M	-374.5M	-5.5B	-14.3B	-40.5B	-117M	1.9B
Free cash flow	920M	920.9M	1.2B	1.1B	1.3B	1.5B	1.7B	2B	2.1B	2.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	480.3M	439.7M	453.7M	511.6M	565.5M	512.5M	495M	550M	550M	544M	525M	567M
Depreciation & amortization	407M	426.7M	425.8M	439.6M	449.3M	469.7M	462M	492M	488M	486M	491M	518M
Stock-based compensation	10.3M	9.2M	11.2M	10.8M	9M	11M	13M	10M	10M	—	—	—
Change in working capital	41.7M	35.5M	-163.9M	66.8M	-7.3M	15.3M	-54M	128M	53M	-188M	54M	-25M
Operating cash flow	953.2M	938.1M	777.5M	1B	1B	1B	916M	1.1B	1.2B	981M	1.2B	1.2B
Capital expenditure	-361M	-543.7M	-512.1M	-399.6M	-435.8M	-459.2M	-456M	—	—	—	—	—
Investing cash flow	-426.5M	-1.6B	-678.9M	-433.2M	-635.5M	-812.5M	-1.3B	-125M	-314M	-168M	-437M	-429M
Dividends paid	-156.5M	-168.6M	-168.3M	-168.8M	-167.8M	-182.2M	-181M	-181M	-182M	-194M	-193M	-192M
Share repurchases	-187.7M	-68.3M	-25.3M	-163.6M	-149.5M	-157.5M	-74M	1M	-536M	-266M	-306M	-361M
Financing cash flow	-545.5M	-10.7B	-201.2M	-233.6M	-753.1M	-209.9M	284M	-9.2B	-7.3B	-11B	-15.5B	-357M
Net change in cash	-18.8M	-11.4B	-102.6M	368.8M	-372.3M	-9.7M	-88M	-8.2B	-6.5B	-10.2B	-14.8B	367M
Free cash flow	584.2M	350.6M	297M	697M	563.6M	524.4M	566M	702M	737M	404M	751M	761M

Republic Services, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history