FirmAtlas
Company handbook · RSG · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
RSG · CIK 1060391 · LATEST FILING: 10-Q JUN '26 · FILED AUG 7, 2026
REPUBLIC SERVICES, INC.
$231.54
+1.89 (+0.82%)
Close, Oct 16, 2026 · 52-week $196–233
Republic Services collects trash and recycling and runs transfer stations, landfills and recycling centers in the U.S. and Canada. It also handles hazardous and industrial waste and turns landfill gas into energy.
Business
- SegmentsSegment Geographical Region One 45% · Group2Segment 44% · Group3Segment 11% (FY25)
- CustomersHomes (often under city contracts), businesses and industrial plants; sold by its own sales force and through contracts with cities
- Cash useFY24–FY25: capex $3.7B · acquisitions $2.2B · dividends $1.4B · buybacks $1.4B
Reinvested 72% of operating cash flow · returned 62% of free cash flow
Last fiscal year
REPUBLIC SERVICES, INC. reported revenue of $16.6B for the year ended Dec 31, 2025 (FY25), up 3.5% from FY24. Net income was $2.1B, operating cash flow $4.3B and free cash flow $2.4B. Source: 10-K filed Feb 18, 2026.
Market cap
$72.3B
P/E
33.1
EV/EBITDA
16.6x
P/B
6.0
Div yield
1.10%
ROIC
11.4%
Revenue 1Y
3.5%/yr
EPS 1Y
5.5%/yr
Shares 1Y
−0.8%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJon Vander Ark
HQPhoenix, AZ
AuditorErnst & Young LLP
Employees42,000
Year endsDecember
Revenue by segment · FY25
Segment Geographical Region One45%
Group2Segment44%
Group3Segment11%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
16.6%
12.6%
16.0%
6.1%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$8.7B deployed
Capex
$3.7B
43.0%
Acquisitions
$2.2B
25.1%
Dividends
$1.4B
16.4%
Buybacks
$1.4B
15.5%
Operating cash flow over the period: $8.2B. Total debt changed by +$1.1B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
16,032
16,591+3.5%
16,890
YoY
+3.5%
Gross profit
6,682
6,961+4.2%
7,094
Gross margin
41.7%
42.0%+0.3 pp
—
Operating income
3,196
3,302+3.3%
3,368
Operating margin
19.9%
19.9%−0.0 pp
—
EBITDA
4,873
5,116+5.0%
—
EBITDA margin
30.4%
30.8%+0.4 pp
—
Interest expense
539
574+6.5%
—
Interest coverage
9.04x
8.91x−0.13x
—
Net income
2,043
2,139+4.7%
2,186
YoY
+4.7%
Net margin
12.7%
12.9%+0.1 pp
—
EPS (diluted, $)
6.49
6.85+5.5%
7.04
YoY
+5.5%
Balance sheet
Total assets
32,402
34,366+6.1%
35,159
Cash & short-term investments
203
249+22.7%
—
Accounts receivable
1,821
1,897+4.2%
—
Inventory
98
106+8.2%
—
Net PP&E
11,877
12,639+6.4%
—
Other assets
18,403
19,475+5.8%
—
Total liabilities
20,997
22,398+6.7%
23,127
Accounts payable
1,345
1,374+2.2%
—
Total debt
11,851
12,985+9.6%
13,521
Other liabilities
7,801
8,039+3.1%
—
Shareholders’ equity
11,405
11,968+4.9%
12,032
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
3,936
4,296+9.1%
4,542
Net income
2,044
2,139+4.6%
—
Depreciation & amortization
1,677
1,814+8.2%
—
Stock-based compensation
42
—
—
Working capital & other
173
343+98.3%
—
Cash from investing
(2,561)
(3,313)n/m
—
Capex
(1,855)
(1,887)n/m
—
PP&E sold
47
13−72.3%
—
Acquisitions
(753)
(1,430)n/m
—
Other investing
0
(9)n/m
—
Cash from financing
(1,398)
(938)n/m
—
Debt raised
889
1,183+33.1%
—
Debt repaid
(25,109)
(38,206)n/m
—
Dividends
(687)
(738)n/m
—
Buybacks
(482)
(870)n/m
—
Other financing
23,991
37,693+57.1%
—
Net change in cash
(25)
46n/m
—
Free cash flow (OCF − capex)
2,081
2,409+15.8%
2,653
Where the cash went
Operating cash flow
3,936
4,296+9.1%
4,542
Reinvested in the business
2,608
3,317+27.2%
—
% of operating cash flow
66.3%
77.2%
Capex
1,855
1,887+1.7%
1,889
Acquisitions
753
1,430+89.9%
—
Free cash flow
2,081
2,409+15.8%
2,653
YoY
+15.8%
Returned to shareholders
1,169
1,608+37.6%
—
% of free cash flow
56.2%
66.7%
Dividends
687
738+7.4%
—
Buybacks
482
870+80.5%
—
Change in total debt
—
1,134
—
Cash left over
—
505
—
FCF conversion (FCF ÷ net income)
101.9%
112.6%+10.8 pp
—
Owner earnings
—
2,011
—
Owner earnings margin
—
12.1%
—
Buyback yield
0.8%
1.3%+0.6 pp
—
Returns & ratios
ROIC (all capital)
11.7%
11.4%−0.2 pp
—
ROIC (operating)
21.6%
21.2%−0.4 pp
—
Net debt / EBITDA
2.39x
2.49x+0.10x
—
Debt / equity
1.04x
1.08x+0.05x
—
ROE
17.9%
17.9%−0.0 pp
—
ROA
6.3%
6.2%−0.1 pp
—
ROCE
11.3%
10.8%−0.5 pp
—
NOPAT
2,686
2,723+1.4%
—
Invested capital (operating)
12,451
13,268+6.6%
—
Invested capital (all)
23,053
24,704+7.2%
—
Reinvestment rate
—
30.0%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
4,212
4,135
4,113
4,430
vs year-ago quarter
Gross profit
1,749
1,731
1,747
1,867
Gross margin
41.5%
41.9%
42.5%
42.1%
Operating income
836
801
830
901
Net income
550
545
525
566
vs year-ago quarter
Net margin
13.1%
13.2%
12.8%
12.8%
EPS (diluted, $)
1.76
1.74
1.70
1.84
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
33,789
34,366
34,600
35,159
Cash & equivalents
225
249
327
306
Total debt
12,353
12,985
13,317
13,521
Shareholders’ equity
11,871
11,968
11,980
12,032
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,181
981
1,227
1,153
Capex
444
577
476
392
Free cash flow
737
404
751
761
vs year-ago quarter