Financials

Republic Services Inc. financials

RSG Commercial Services and Supplies

Republic Services Inc., founded in 1998 and headquartered in Phoenix, Arizona, United States, provides comprehensive solid waste collection, recycling, and disposal services across the nation. The firm generates revenue from municipal and commercial contracts by leveraging advanced logistics and sustainable practices. Led by CEO Donald W. Slagle since 2018, the company holds roughly a 20% market share in the U.S. non-hazardous waste sector and is actively investing in recycling expansion and renewable energy initiatives. Its strategic focus on technology and regulatory compliance positions it well for future growth.

Snapshot

Republic Services Inc. reported $16.59B in revenue in fiscal 2025, up 3.5% year over year, with an operating margin of 19.9%.

Revenue (FY2025): $16.59B
YoY growth: +3.5%
Operating margin: 19.9%
Direction: Expanding

Financial statements

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	16,591,000	16,032,000	14,965,000	13,511,000
Cost of Sales	9,630,000	9,350,000	8,943,000	8,205,000
Gross Profit	6,961,000	6,682,000	6,022,000	5,306,000
Selling, General & Administrative Expenses	1,710,000	1,674,000	1,609,000	1,454,000
Depreciation & Amortization Expenses	1,928,000	1,784,000	1,599,000	1,441,000
Other Operating Expenses	21,000	28,000	34,000	19,000
Operating Profit	3,302,000	3,196,000	2,780,000	2,392,000
Interest and Investment Income	8,000	9,000	6,000	3,000
Interest Expense	(574,000)	(539,000)	(508,000)	(395,000)
Non-Operating Income	(142,000)	(234,000)	(87,000)	(168,000)
Total Non-Operating Income	(708,000)	(764,000)	(589,000)	(560,000)
Income Before Provision for Income Taxes	2,594,000	2,432,000	2,191,000	1,832,000
Provision for Income Taxes	455,000	388,000	460,000	344,000
Consolidated Net Income	2,139,000	2,044,000	1,731,000	1,488,000
Net Income Attributable to Minority Interests and Other	—	(1,000)	—	—
Net Income Attributable to Common Shareholders	2,139,000	2,043,000	1,731,000	1,488,000
Basic EPS	6.86	6.50	5.47	4.70
Diluted EPS	6.85	6.49	5.47	4.69
Basic Weighted Average Shares Outstanding	311,900	314,400	316,182	316,530
Diluted Weighted Average Shares Outstanding	312,200	314,800	316,665	317,080
Shares Outstanding	308,000	312,000	314,400	316,100

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	76,000	74,000	140,000	143,400
Total Cash and Cash Equivalents	76,000	74,000	140,000	143,400
Accounts Receivable	1,897,000	1,821,000	1,768,000	1,677,200
Total Trade Receivables	1,897,000	1,821,000	1,768,000	1,677,200
Other Current Assets	550,000	511,000	473,000	536,500
Total Current Assets	2,523,000	2,406,000	2,381,000	2,357,100
Net Property, Plant & Equipment	12,639,000	11,877,000	11,351,000	10,744,000
Net Intangible Assets	655,000	546,000	496,000	347,200
Goodwill	16,715,000	15,982,000	15,834,000	14,451,500
Long-Term Investments	259,000	208,000	164,000	127,600
Other Long-Term Assets	1,575,000	1,383,000	1,184,000	1,025,500
Total Assets	34,366,000	32,402,000	31,410,000	29,052,900
Accounts Payable	1,374,000	1,345,000	1,412,000	1,221,800
Accrued Expenses	1,462,000	1,436,000	1,417,000	1,269,900
Current Portion of Long-Term Debt	596,000	862,000	932,000	456,000
Unearned Revenue	496,000	485,000	467,000	443,000
Total Current Liabilities	3,928,000	4,128,000	4,228,000	3,390,700
Long-Term Debt	12,985,000	11,851,000	11,887,000	11,329,500
Other Long-Term Liabilities	5,484,000	5,016,000	4,752,000	4,645,900
Total Long-Term Liabilities	18,469,000	16,867,000	16,639,000	15,975,400
Total Liabilities	22,397,000	20,995,000	20,867,000	19,366,100
Common Stock	3,000	3,000	3,000	3,200
Treasury Stock	(1,000,000)	(113,000)	(784,000)	(504,600)
Additional Paid-in Capital	1,833,000	1,767,000	2,901,000	2,843,200
Accumulated Other Comprehensive Income	(29,000)	(26,000)	(12,000)	(12,100)
Retained Earnings	11,161,000	9,774,000	8,434,000	7,356,300
Total Common Shareholders' Equity	11,968,000	11,405,000	10,542,000	9,686,000
Minority Interests and Other	1,000	2,000	1,000	800
Total Shareholders' Equity	11,969,000	11,407,000	10,543,000	9,686,800
Total Liabilities and Shareholders' Equity	34,366,000	32,402,000	31,410,000	29,052,900

In thousands, USD
	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	2,139,000	2,044,000	1,731,000	1,488,000
Depreciation & Amortization	1,928,000	1,784,000	1,599,000	1,441,000
Share-Based Compensation Expense	—	42,000	41,000	39,000
Other Adjustments	588,000	444,000	338,000	454,000
Changes in Trade Receivables	(87,000)	(76,000)	(71,000)	(199,000)
Changes in Accounts Payable	(14,000)	(27,000)	83,000	106,000
Changes in Other Operating Activities	(258,000)	(275,000)	(103,000)	(139,000)
Cash from Operating Activities	4,296,000	3,936,000	3,618,000	3,190,000
Capital Expenditure	(1,887,000)	(1,855,000)	(1,631,000)	(1,454,000)
Proceeds from Sale of Property, Plant & Equipment	13,000	47,000	29,000	33,000
Payments for Business Acquisitions	(1,430,000)	(753,000)	(2,065,000)	(3,039,000)
Proceeds from Business Divestments	11,000	2,000	6,000	51,000
Other Investing Activities	(20,000)	(2,000)	(6,000)	(14,000)
Cash from Investing Activities	(3,313,000)	(2,561,000)	(3,667,000)	(4,423,000)
Issuance of Short-Term Debt	37,715,000	24,020,000	39,221,000	16,446,000
Repayments of Short-Term Debt	(38,206,000)	(25,109,000)	(40,411,000)	(14,282,000)
Net Issuance / (Repayments) of Short-Term Debt	(491,000)	(1,089,000)	(1,190,000)	2,164,000
Issuance of Long-Term Debt	1,183,000	889,000	2,172,000	—
Net Issuance / (Repayments) of Long-Term Debt	1,183,000	889,000	2,172,000	—
Issuance of Common Shares	(5,000)	(14,000)	(1,000)	(13,000)
Repurchases of Common Shares	(870,000)	(482,000)	(262,000)	(203,000)
Net Issuance / (Repurchases) of Common Shares	(875,000)	(496,000)	(263,000)	(216,000)
Common Share Dividends Paid	(738,000)	(687,000)	(638,000)	(593,000)
Other Financing Activities	(17,000)	(15,000)	(19,000)	(11,000)
Cash from Financing Activities	(938,000)	(1,398,000)	62,000	1,344,000
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1,000	(2,000)	1,000	(3,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	46,000	(25,000)	14,000	108,000

Key metrics

$65.27B

Market Cap

30.94x

P/E

3.93x

P/S

15.06x

EV/EBITDA

18.3%

Return on Equity

8.5%

Return on Invested Capital

0.64x

Current Ratio

1.1%

Dividend Yield

14.5%

Free Cash Flow Margin

Quarterly trend

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q1 2026	$4.11B	+2.6%	20.2%	$830M
Q4 2025	$4.14B	+2.2%	19.3%	$800M
Q3 2025	$4.21B	+3.3%	19.8%	$836M
Q2 2025	$4.24B	+4.6%	20.3%	$861M
Q1 2025	$4.01B	—	20.1%	$804M
Q4 2024	$4.05B	—	19.8%	$803M
Q3 2024	$4.08B	—	20.8%	$846M
Q2 2024	$4.05B	—	20.1%	$814M

Margins

42.0%

Gross margin

19.9%

Operating margin

12.9%

Net margin

Snapshot

Financial statements

Key metrics

Quarterly trend

Margins

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