NYSE : RSG
Republic Services, Inc. — Financial statements
Industrials · Waste Management · United States
Last price 244.04 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 74.34B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Republic Services, Inc. (RSG) reported revenue of 17.24B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 17.24B | 16.59B | 16.03B | 14.96B | 13.51B | 11.29B |
| Cost of Revenue | 9.82B | 9.46B | 9.17B | 8.94B | 8.21B | 6.74B |
| Gross Profit | 7.42B | 7.13B | 6.86B | 6.02B | 5.31B | 4.56B |
| Selling, General & Admin | 1.93B | 1.88B | 1.85B | 1.61B | 1.45B | 1.17B |
| Other Operating Expenses | 120.00M | 114.00M | 107.00M | 98.00M | 89.00M | 82.70M |
| Operating Expenses | 3.95B | 3.81B | 3.64B | 3.21B | 2.89B | 2.44B |
| Operating Income | 3.47B | 3.32B | 3.22B | 2.81B | 2.41B | 2.12B |
| Interest Expense | -605.00M | -574.00M | -539.00M | -508.00M | -395.00M | -314.60M |
| Interest & Investment Income | 9.00M | 8.00M | 9.00M | 6.00M | 3.00M | 2.50M |
| Earnings From Equity Investments | -249.00M | -163.00M | -255.00M | -94.00M | -166.00M | -188.50M |
| Other Non Operating Income (Expenses) | 29.00M | 20.00M | 23.00M | 2.00M | -1.00M | -1.80M |
| EBT Excluding Unusual Items | 2.65B | 2.61B | 2.46B | 2.22B | 1.85B | 1.61B |
| Merger & Restructuring Charges | -17.00M | -20.00M | -29.00M | -33.00M | -27.00M | -16.60M |
| Gain (Loss) on Sale of Assets | 1.00M | 1.00M | 4.00M | 6.00M | -500.00K | |
| Other Unusual Items | -2.00M | -22.00M | ||||
| Pretax Income | 2.64B | 2.59B | 2.43B | 2.19B | 1.83B | 1.58B |
| Income Tax Expense | 409.00M | 455.00M | 388.00M | 460.00M | 344.00M | 282.80M |
| Earnings From Continuing Operations | 2.23B | 2.14B | 2.04B | 1.73B | 1.49B | 1.29B |
| Minority Interest in Earnings | -1.00M | -1.00M | -1.90M | |||
| Net Income | 2.23B | 2.14B | 2.04B | 1.73B | 1.49B | 1.29B |
| Net Income to Common | 2.23B | 2.14B | 2.04B | 1.73B | 1.49B | 1.29B |
| Shares Outstanding (Basic) | 308.16M | 311.88M | 314.40M | 316.18M | 316.53M | 318.81M |
| Shares Outstanding (Diluted) | 308.35M | 312.17M | 314.81M | 316.67M | 317.08M | 319.43M |
| EPS (Basic) | 7.23 | 6.86 | 6.50 | 5.47 | 4.70 | 4.05 |
| EPS (Diluted) | 7.22 | 6.85 | 6.49 | 5.47 | 4.69 | 4.04 |
| Free Cash Flow | 2.56B | 2.41B | 2.08B | 1.99B | 1.74B | 1.47B |
| Free Cash Flow Per Share | 8.30 | 7.72 | 6.61 | 6.28 | 5.47 | 4.60 |
| Dividend Per Share | 2.54 | 2.41 | 2.23 | 2.06 | 1.91 | 1.77 |
| Gross Margin | 43.02% | 43.00% | 42.81% | 40.24% | 39.27% | 40.35% |
| Operating Margin | 20.12% | 20.03% | 20.11% | 18.80% | 17.85% | 18.74% |
| Profit Margin | 12.92% | 12.89% | 12.74% | 11.57% | 11.01% | 11.43% |
| Free Cash Flow Margin | 14.85% | 14.52% | 12.98% | 13.28% | 12.85% | 13.02% |
| EBITDA | 5.38B | 5.14B | 4.93B | 4.41B | 3.85B | 3.38B |
| EBITDA Margin | 31.20% | 30.99% | 30.73% | 29.49% | 28.52% | 29.97% |
| D&A For EBITDA | 1.91B | 1.82B | 1.70B | 1.60B | 1.44B | 1.27B |
| EBIT | 3.47B | 3.32B | 3.22B | 2.81B | 2.41B | 2.12B |
| EBIT Margin | 20.12% | 20.03% | 20.11% | 18.80% | 17.85% | 18.74% |
| Effective Tax Rate | 15.51% | 17.54% | 15.95% | 21.00% | 18.78% | 17.95% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 92.00M | 76.00M | 74.00M | 140.00M | 143.40M | 29.00M |
| Cash & Short-Term Investments | 92.00M | 76.00M | 74.00M | 140.00M | 143.40M | 29.00M |
| Accounts Receivable | 2.13B | 1.90B | 1.82B | 1.77B | 1.68B | 1.27B |
| Other Receivables | 121.00M | 272.00M | 250.00M | 224.00M | 305.70M | 237.00M |
| Receivables | 2.25B | 2.17B | 2.07B | 1.99B | 1.98B | 1.51B |
| Inventory | 122.00M | 106.00M | 98.00M | 98.00M | 96.60M | 72.20M |
| Prepaid Expenses | 168.00M | 131.00M | 127.00M | 123.00M | 114.30M | 85.30M |
| Other Current Assets | 49.00M | 41.00M | 36.00M | 28.00M | 19.90M | 15.90M |
| Total Current Assets | 2.68B | 2.52B | 2.41B | 2.38B | 2.36B | 1.71B |
| Property, Plant & Equipment | 13.16B | 12.85B | 12.11B | 11.59B | 11.02B | 9.49B |
| Long-Term Investments | 680.00M | 815.00M | 637.00M | 469.00M | 387.20M | 147.30M |
| Goodwill | 17.33B | 16.71B | 15.98B | 15.83B | 14.45B | 12.83B |
| Other Intangible Assets | 779.00M | 655.00M | 546.00M | 496.00M | 347.20M | 259.50M |
| Long-Term Deferred Charges | 266.00M | 240.00M | 205.00M | 151.00M | 136.70M | 128.60M |
| Other Long-Term Assets | 615.00M | 571.00M | 517.00M | 490.00M | 354.10M | 395.40M |
| Total Assets | 35.51B | 34.37B | 32.40B | 31.41B | 29.05B | 24.95B |
| Accounts Payable | 1.45B | 1.37B | 1.34B | 1.41B | 1.22B | 910.00M |
| Accrued Expenses | 1.33B | 1.20B | 1.19B | 1.18B | 1.05B | 932.00M |
| Current Portion of Long-Term Debt | 48.00M | 581.00M | 849.00M | 919.00M | 442.90M | |
| Current Portion of Leases | 48.00M | 63.00M | 68.00M | 68.00M | 72.20M | 46.40M |
| Current Unearned Revenue | 481.00M | 496.00M | 485.00M | 467.00M | 443.00M | 381.30M |
| Other Current Liabilities | 224.00M | 218.00M | 195.00M | 185.00M | 156.40M | 145.90M |
| Total Current Liabilities | 3.58B | 3.93B | 4.13B | 4.23B | 3.39B | 2.42B |
| Long-Term Debt | 13.72B | 12.71B | 11.60B | 11.65B | 11.20B | 9.36B |
| Long-Term Leases | 454.00M | 455.00M | 438.00M | 433.00M | 471.20M | 480.20M |
| Long-Term Deferred Tax Liabilities | 2.03B | 1.88B | 1.59B | 1.53B | 1.53B | 1.23B |
| Other Long-Term Liabilities | 3.49B | 3.42B | 3.23B | 3.03B | 2.78B | 2.49B |
| Total Liabilities | 23.27B | 22.40B | 21.00B | 20.87B | 19.37B | 15.98B |
| Common Stock | 3.00M | 3.00M | 3.00M | 3.00M | 3.20M | 3.20M |
| Additional Paid-In Capital | 1.89B | 1.83B | 1.77B | 2.90B | 2.84B | 2.79B |
| Retained Earnings | 12.25B | 11.16B | 9.77B | 8.43B | 7.36B | 6.48B |
| Treasury Stock | -1.88B | -1.00B | -113.00M | -784.00M | -504.60M | -274.80M |
| Comprehensive Income & Other | -33.00M | -29.00M | -26.00M | -12.00M | -12.10M | -14.60M |
| Total Common Equity | 12.24B | 11.97B | 11.40B | 10.54B | 9.69B | 8.98B |
| Minority Interest | 2.00M | 1.00M | 2.00M | 1.00M | 800.00K | 800.00K |
| Shareholders' Equity | 12.24B | 11.97B | 11.41B | 10.54B | 9.69B | 8.98B |
| Total Liabilities & Equity | 35.51B | 34.37B | 32.40B | 31.41B | 29.05B | 24.95B |
| Total Debt | 14.27B | 13.81B | 12.96B | 13.07B | 12.18B | 9.88B |
| Net Cash (Debt) | -14.18B | -13.73B | -12.88B | -12.93B | -12.04B | -9.85B |
| Net Cash Per Share | -45.99 | -43.98 | -40.92 | -40.83 | -37.97 | -30.85 |
| Filing Date Shares Outstanding | 304.64M | 308.80M | 312.28M | 314.61M | 316.04M | 316.43M |
| Total Common Shares Outstanding | 305.00M | 308.00M | 312.00M | 314.60M | 316.10M | 317.20M |
| Working Capital | -899.00M | -1.41B | -1.72B | -1.85B | -1.03B | -704.80M |
| Book Value Per Share | 40.12 | 38.86 | 36.55 | 33.51 | 30.64 | 28.31 |
| Tangible Book Value | -5.87B | -5.40B | -5.12B | -5.79B | -5.11B | -4.11B |
| Tangible Book Value Per Share | -19.25 | -17.54 | -16.42 | -18.40 | -16.17 | -12.95 |
| Land | 1.04B | 1.02B | 897.00M | 878.00M | 779.70M | 694.90M |
| Buildings | 2.80B | 2.58B | 2.12B | 1.92B | 1.70B | 1.51B |
| Machinery | 12.29B | 11.79B | 11.00B | 10.23B | 9.47B | 8.58B |
| Construction In Progress | 743.00M | 749.00M | 1.01B | 904.00M | 716.90M | 462.20M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.23B | 2.14B | 2.04B | 1.73B | 1.49B | 1.29B |
| Depreciation & Amortization | 1.91B | 1.82B | 1.70B | 1.60B | 1.44B | 1.27B |
| Other Amortization | 110.00M | 110.00M | 81.00M | |||
| Loss (Gain) From Sale of Assets | -9.00M | 400.00K | ||||
| Loss (Gain) on Equity Investments | 249.00M | 163.00M | 255.00M | 94.00M | 166.00M | 188.50M |
| Stock-Based Compensation | 39.00M | 57.00M | ||||
| Provision & Write-off of Bad Debts | 41.00M | 19.90M | ||||
| Other Operating Activities | 441.00M | 425.00M | 208.00M | 282.00M | 256.00M | 56.30M |
| Change in Accounts Receivable | -263.00M | -87.00M | -76.00M | -71.00M | -199.00M | -135.40M |
| Change in Accounts Payable | 139.00M | -14.00M | -27.00M | 83.00M | 106.00M | 113.80M |
| Change in Other Net Operating Assets | -312.00M | -258.00M | -251.00M | -100.00M | -139.00M | -72.40M |
| Operating Cash Flow | 4.50B | 4.30B | 3.94B | 3.62B | 3.19B | 2.79B |
| Capital Expenditures | -1.94B | -1.89B | -1.85B | -1.63B | -1.45B | -1.32B |
| Sale of Property, Plant & Equipment | 12.00M | 13.00M | 47.00M | 29.00M | 33.00M | 19.50M |
| Cash Acquisitions | -1.29B | -1.43B | -753.00M | -2.06B | -3.04B | -1.22B |
| Divestitures | 6.00M | 11.00M | 2.00M | 6.00M | 51.00M | 46.30M |
| Other Investing Activities | -5.00M | -20.00M | -2.00M | -6.00M | -14.00M | 6.10M |
| Investing Cash Flow | -3.21B | -3.31B | -2.56B | -3.67B | -4.42B | -2.47B |
| Long-Term Debt Issued | 38.90B | 24.91B | 41.39B | 16.45B | 5.85B | |
| Long-Term Debt Repaid | -38.21B | -25.11B | -40.41B | -14.28B | -5.30B | |
| Net Debt Issued (Repaid) | 704.00M | 692.00M | -200.00M | 982.00M | 2.16B | 542.10M |
| Repurchase of Common Stock | -1.13B | -870.00M | -482.00M | -262.00M | -203.00M | -252.20M |
| Common Dividends Paid | -771.00M | -738.00M | -687.00M | -638.00M | -593.00M | -552.60M |
| Other Financing Activities | -27.00M | -22.00M | -29.00M | -20.00M | -24.00M | -66.50M |
| Financing Cash Flow | -1.22B | -938.00M | -1.40B | 62.00M | 1.34B | -329.20M |
| Foreign Exchange Rate Adjustments | -1.00M | 1.00M | -2.00M | 1.00M | -3.00M | |
| Net Cash Flow | 63.00M | 46.00M | -25.00M | 14.00M | 108.00M | -8.60M |
| Free Cash Flow | 2.56B | 2.41B | 2.08B | 1.99B | 1.74B | 1.47B |
| Free Cash Flow Margin | 14.85% | 14.52% | 12.98% | 13.28% | 12.85% | 13.02% |
| Free Cash Flow Per Share | 8.30 | 7.72 | 6.61 | 6.28 | 5.47 | 4.60 |
| Levered Free Cash Flow | 1.93B | 1.77B | 1.54B | 1.80B | 1.27B | 1.25B |
| Unlevered Free Cash Flow | 2.31B | 2.13B | 1.88B | 2.12B | 1.51B | 1.44B |
| Cash Interest Paid | 525.00M | 500.00M | 487.00M | 423.00M | 312.00M | 249.40M |
| Cash Income Tax Paid | 162.00M | 206.00M | 313.00M | 343.00M | 185.00M | 300.40M |
| Change in Working Capital | -436.00M | -359.00M | -354.00M | -88.00M | -232.00M | -94.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 74.93B | 65.61B | 63.00B | 51.89B | 40.76B | 44.22B |
| Enterprise Value | 89.11B | 79.03B | 75.78B | 64.00B | 52.73B | 53.77B |
| Last Close Price | 244.04 | 209.41 | 196.73 | 159.91 | 123.35 | 131.45 |
| PE Ratio | 34.07 | 30.67 | 30.84 | 29.98 | 27.39 | 34.27 |
| Forward PE | 31.75 | 29.73 | 30.81 | 28.28 | 27.09 | 30.71 |
| PS Ratio | 4.30 | 3.95 | 3.93 | 3.47 | 3.02 | 3.92 |
| PB Ratio | 6.08 | 5.48 | 5.52 | 4.92 | 4.21 | 4.92 |
| P/FCF Ratio | 28.93 | 27.23 | 30.27 | 26.11 | 23.48 | 30.07 |
| P/OCF Ratio | 16.46 | 15.27 | 16.01 | 14.34 | 12.78 | 15.87 |
| PEG Ratio | 3.76 | 3.52 | 3.04 | 2.83 | 2.45 | 2.78 |
| EV/Sales Ratio | 5.12 | 4.76 | 4.73 | 4.28 | 3.90 | 4.76 |
| EV/EBITDA Ratio | 16.41 | 15.37 | 15.38 | 14.50 | 13.69 | 15.89 |
| EV/EBIT Ratio | 25.44 | 23.78 | 23.50 | 22.74 | 21.86 | 25.41 |
| EV/FCF Ratio | 34.47 | 32.81 | 36.41 | 32.21 | 30.37 | 36.57 |
| Debt / Equity Ratio | 1.17 | 1.15 | 1.14 | 1.24 | 1.26 | 1.10 |
| Debt / EBITDA Ratio | 2.57 | 2.60 | 2.54 | 2.85 | 3.04 | 2.84 |
| Debt / FCF Ratio | 5.58 | 5.73 | 6.23 | 6.58 | 7.02 | 6.72 |
| Net Debt / Equity Ratio | 1.16 | 1.15 | 1.13 | 1.23 | 1.24 | 1.10 |
| Net Debt / EBITDA Ratio | 2.64 | 2.67 | 2.62 | 2.93 | 3.12 | 2.91 |
| Net Debt / FCF Ratio | 5.54 | 5.70 | 6.19 | 6.51 | 6.93 | 6.70 |
| Asset Turnover | 0.50 | 0.50 | 0.50 | 0.49 | 0.50 | 0.47 |
| Inventory Turnover | 87.32 | 92.71 | 93.56 | 91.91 | 97.22 | 102.63 |
| Quick Ratio | 0.65 | 0.57 | 0.52 | 0.50 | 0.63 | 0.64 |
| Current Ratio | 0.75 | 0.64 | 0.58 | 0.56 | 0.69 | 0.71 |
| Return on Equity (ROE) | 18.48% | 18.30% | 18.62% | 17.11% | 15.94% | 14.80% |
| Return on Assets (ROA) | 6.26% | 6.22% | 6.31% | 5.82% | 5.58% | 5.47% |
| Return on Invested Capital (ROIC) | 11.13% | 10.96% | 11.35% | 9.84% | 9.66% | 9.50% |
| Return on Capital Employed (ROCE) | 10.90% | 10.90% | 11.40% | 10.40% | 9.40% | 9.40% |
| Earnings Yield | 2.94% | 3.26% | 3.24% | 3.34% | 3.65% | 2.92% |
| FCF Yield | 3.46% | 3.67% | 3.30% | 3.83% | 4.26% | 3.33% |
| Dividend Yield | 1.09% | 1.13% | 1.10% | 1.25% | 1.48% | 1.27% |
| Payout Ratio | 37.12% | 34.50% | 33.63% | 36.86% | 39.85% | 42.82% |
| Buyback Yield / Dilution | 1.52% | 0.84% | 0.59% | 0.13% | 0.73% | 0.13% |
| Total Shareholder Return | 2.62% | 1.97% | 1.69% | 1.38% | 2.21% | 1.40% |