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RSG

Republic Services, Inc.

RSG

Republic Services, Inc. • NYSE
$217.06 ▼ -0.14% (-0.31)
Market Cap $67.89 B
52w High $258.75
52w Low $199.43
Dividend Yield 2.50%
P/E 32.25
Volume 517.85K
Outstanding Shares 312.79M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.212B ▼ $422M ▼ $550M 13.058% ▲ $1.76 $1.276B ▼
Q2-2025 $4.235B ▲ $425M ▼ $550M ▲ 12.987% ▲ $1.76 ▲ $1.356B ▲
Q1-2025 $4.009B ▼ $427M ▼ $495M ▼ 12.347% ▼ $1.58 ▼ $1.267B ▲
Q4-2024 $4.046B ▼ $447M ▲ $512M ▼ 12.654% ▼ $1.63 ▼ $1.136B ▼
Q3-2024 $4.076B $406M $565.7M 13.878% $1.8 $1.232B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $84M ▼ $33.789B ▲ $21.918B ▲ $11.871B ▼
Q2-2025 $122M ▲ $33.397B ▲ $21.345B ▼ $12.05B ▲
Q1-2025 $83M ▲ $33.103B ▲ $21.438B ▲ $11.663B ▲
Q4-2024 $74M ▼ $32.402B ▲ $20.995B ▲ $11.405B ▲
Q3-2024 $83.4M $31.814B $20.584B $11.229B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $550M $1.181B ▲ $-756M ▼ $-463M ▲ $-38M ▼ $737M ▲
Q2-2025 $550M ▲ $1.109B ▲ $-527M ▲ $-544M ▼ $39M ▲ $702M ▲
Q1-2025 $495M ▼ $1.025B ▲ $-1.288B ▼ $284M ▲ $21M ▲ $566M ▲
Q4-2024 $512.5M ▼ $1.022B ▲ $-812.5M ▼ $-209.9M ▲ $-9.4M ▲ $524.4M ▼
Q3-2024 $565.669M $1.003B $-635.8M $-753.5M $-385.8M $563.6M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Collection Service Line
Collection Service Line
 $0 ▲$0 ▲$0 ▲$2.83Bn ▲
Collection Service Line Largecontainer
Collection Service Line Largecontainer
 $750.00M ▲$740.00M ▼$790.00M ▲$800.00M ▲
Collection Service Line Other
Collection Service Line Other
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Collection Service Line Residential
Collection Service Line Residential
 $740.00M ▲$740.00M ▲$750.00M ▲$750.00M ▲
Collection Service Line Smallcontainer
Collection Service Line Smallcontainer
 $1.22Bn ▲$1.24Bn ▲$1.26Bn ▲$1.27Bn ▲
Environmental Solutions Service Line
Environmental Solutions Service Line
 $500.00M ▲$470.00M ▼$480.00M ▲$450.00M ▼
Other Service Line Other Noncore
Other Service Line Other Noncore
 $90.00M ▲$100.00M ▲$100.00M ▲$100.00M ▲
Other Service Line Sale Of Recycled Commodities
Other Service Line Sale Of Recycled Commodities
 $100.00M ▲$110.00M ▲$110.00M ▲$110.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Republic Services shows a well-established, steadily growing business. Revenue has climbed each year over the past five years, and profits have grown faster than sales, suggesting better pricing, scale, and cost control. Earnings per share have increased meaningfully, helped by margin expansion and disciplined operations. The business looks durable and relatively resilient, consistent with essential waste services, but it does remain exposed to general economic activity and recycling commodity prices, which can introduce some volatility beneath the smooth headline growth.

Balance Sheet

Balance Sheet The balance sheet reflects a large, asset-heavy infrastructure business with significant investments in landfills, transfer stations, and related facilities. Total assets and shareholders’ equity have risen over time, which signals ongoing investment and retained profits. Debt levels are sizeable and have also trended up, which is typical for this type of capital-intensive, contract-stable industry but still a point to watch. Cash on hand is quite low relative to the size of the company, implying reliance on steady cash generation and access to financing rather than large cash reserves. Overall, the financial structure looks geared but broadly consistent with peers, with leverage being the main risk area to monitor if conditions tighten.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has increased steadily, tracking the growth in profits, and comfortably funds both capital spending and rising free cash flow. The company is consistently investing heavily back into the business, with capital expenditures growing over time as it modernizes its fleet, expands recycling capabilities, and upgrades infrastructure. Even after these investments, there is a solid cushion of free cash flow, which provides flexibility for debt service, dividends, and other capital allocation choices. The main sensitivity is that this model depends on continued stable operating performance to support both investment needs and financial obligations.

Competitive Edge

Competitive Edge Republic Services operates from a position of considerable strength in U.S. waste management. Its nationwide network of landfills, transfer stations, recycling centers, and environmental services facilities is difficult and costly for new entrants to replicate, given permitting and land constraints. Vertical integration across collection, transfer, disposal, recycling, and hazardous waste services gives it cost advantages and service breadth that many smaller rivals lack. Long-term contracts with municipalities and businesses, along with the hassle of switching providers, create a sticky customer base and recurring revenue. Key competitive risks include regulatory changes, rising environmental standards, and ongoing competition from its largest peer and strong regional players, which can pressure pricing and require continual investment to maintain its edge.

Innovation and R&D

Innovation and R&D The company is leaning heavily into technology and sustainability as differentiators rather than treating them as mere compliance. It is rolling out AI and robotic sorting in recycling, building specialized polymer centers to create high-quality recycled plastics, and expanding landfill gas-to-energy projects, all of which can deepen its moat if executed well. Fleet modernization and electrification aim to cut emissions and long-term operating costs, although they require substantial upfront investment and carry technology and execution risk. The expanded hazardous waste and emergency response offerings, along with unique services like comprehensive aerosol can recycling, broaden its role from traditional waste hauler to integrated environmental solutions provider. The big watch points are whether these innovations scale profitably, how policy and subsidies evolve, and whether returns on these green investments match the capital going in.

Summary

Put together, Republic Services looks like a mature, steadily expanding infrastructure-style business with a strong competitive position and a clear push into higher-value, sustainability-focused services. The income statement shows consistent growth and improving profitability; the balance sheet reflects substantial but manageable leverage; and the cash flow profile is robust enough to support both heavy investment and shareholder returns. Its entrenched network, vertical integration, and sticky contracts create a meaningful moat, which it is trying to reinforce through technology, circular-economy initiatives, and renewable projects. Key uncertainties revolve around debt levels in a changing interest rate environment, the regulatory and political backdrop for waste and recycling, and the financial payoff from its newer ventures in plastics circularity, electrification, and renewable energy. For observers, the core waste operations provide stability, while the innovation program introduces both upside potential and added execution risk.

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October 30, 2025 · 4:10 PM UTC

Republic Services, Inc. Reports Third Quarter 2025 Results

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September 30, 2025 · 4:05 PM UTC

Republic Services, Inc. Sets Date for Third Quarter 2025 Earnings Release and Conference Call

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September 30, 2025 · 9:04 AM UTC

Republic Services' Recycled Plastic Flake Provides 54% Lower Carbon Footprint for Sustainable Packaging

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