NYSE: RSG
Republic Services
Industrials · Refuse Systems
52-week range
$196.41$249.37
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$63.9B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $19.3B |
| FY2017, ended Dec 31, 2017 | $22.4B |
| FY2018, ended Dec 31, 2018 | $23.2B |
| FY2019, ended Dec 31, 2019 | $28.6B |
| FY2020, ended Dec 31, 2020 | $30.7B |
| FY2021, ended Dec 31, 2021 | $44.1B |
| FY2022, ended Dec 31, 2022 | $40.8B |
| FY2023, ended Dec 31, 2023 | $51.9B |
| FY2024, ended Dec 31, 2024 | $62.8B |
| FY2025, ended Dec 31, 2025 | $65.4B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $63.9B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$19.7B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $11.4B |
| FY2017, ended Dec 31, 2017 | $12.1B |
| FY2018, ended Dec 31, 2018 | $11.9B |
| FY2019, ended Dec 31, 2019 | $12.2B |
| FY2020, ended Dec 31, 2020 | $12.0B |
| FY2021, ended Dec 31, 2021 | $13.3B |
| FY2022, ended Dec 31, 2022 | $15.6B |
| FY2023, ended Dec 31, 2023 | $17.3B |
| FY2024, ended Dec 31, 2024 | $18.4B |
| FY2025, ended Dec 31, 2025 | $19.0B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $19.7B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $613M | $920M |
| FY2017, ended Dec 31, 2017 | $1.28B | $921M |
| FY2018, ended Dec 31, 2018 | $1.04B | $1.17B |
| FY2019, ended Dec 31, 2019 | $1.07B | $1.15B |
| FY2020, ended Dec 31, 2020 | $967M | $1.28B |
| FY2021, ended Dec 31, 2021 | $1.29B | $1.47B |
| FY2022, ended Dec 31, 2022 | $1.49B | $1.74B |
| FY2023, ended Dec 31, 2023 | $1.73B | $1.99B |
| FY2024, ended Dec 31, 2024 | $2.04B | $2.08B |
| FY2025, ended Dec 31, 2025 | $2.14B | $2.41B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $2.23B | $2.56B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$92.0M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $67.8M |
| FY2017, ended Dec 31, 2017 | $83.3M |
| FY2018, ended Dec 31, 2018 | $70.5M |
| FY2019, ended Dec 31, 2019 | $47.1M |
| FY2020, ended Dec 31, 2020 | $38.2M |
| FY2021, ended Dec 31, 2021 | $29.0M |
| FY2022, ended Dec 31, 2022 | $143M |
| FY2023, ended Dec 31, 2023 | $140M |
| FY2024, ended Dec 31, 2024 | $74.0M |
| FY2025, ended Dec 31, 2025 | $76.0M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $92.0M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$14.1B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $7.66B |
| FY2017, ended Dec 31, 2017 | $8.19B |
| FY2018, ended Dec 31, 2018 | $8.45B |
| FY2019, ended Dec 31, 2019 | $8.79B |
| FY2020, ended Dec 31, 2020 | $9.05B |
| FY2021, ended Dec 31, 2021 | $9.68B |
| FY2022, ended Dec 31, 2022 | $11.9B |
| FY2023, ended Dec 31, 2023 | $12.8B |
| FY2024, ended Dec 31, 2024 | $12.8B |
| FY2025, ended Dec 31, 2025 | $13.7B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $14.1B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 10.2% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.305M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 339M |
| FY2017, ended Dec 31, 2017 | 331M |
| FY2018, ended Dec 31, 2018 | 322M |
| FY2019, ended Dec 31, 2019 | 319M |
| FY2020, ended Dec 31, 2020 | 319M |
| FY2021, ended Dec 31, 2021 | 316M |
| FY2022, ended Dec 31, 2022 | 316M |
| FY2023, ended Dec 31, 2023 | 315M |
| FY2024, ended Dec 31, 2024 | 312M |
| FY2025, ended Dec 31, 2025 | 309M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 305M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $1.13B more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $404M | $23.2M | $49.7M |
| FY2017, ended Dec 31, 2017 | $611M | $34.6M | $36.9M |
| FY2018, ended Dec 31, 2018 | $737M | $39.0M | $23.2M |
| FY2019, ended Dec 31, 2019 | $399M | $39.5M | $9.30M |
| FY2020, ended Dec 31, 2020 | $98.8M | $37.3M | $3.90M |
| FY2021, ended Dec 31, 2021 | $252M | $57.0M | −$12.0M |
| FY2022, ended Dec 31, 2022 | $203M | $39.0M | −$13.6M |
| FY2023, ended Dec 31, 2023 | $262M | $41.0M | — |
| FY2024, ended Dec 31, 2024 | $482M | $42.0M | — |
| FY2025, ended Dec 31, 2025 | $870M | — | — |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.13B | — | — |
Revenue (TTM)
$19.7B
+4.1% YoY
Net income (TTM)
$2.23B
+5.7% YoY
Cash
$92.0M
+9.5% YoY
Total debt
$14.1B
+5.9% YoY
Valuation
At current price- Market Cap
- $74.3B
- P/E
- 33.4×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 3.8×
- Price / Book
- 6.1×
- EV / EBITDA
- 16.5×
Growth
Trailing 12 months- Revenue (TTM)
- $19.7B
- Revenue Growth YoY
- 4.1%
- Revenue CAGR 3Y
- 6.7%
- Revenue CAGR 5Y
- 9.6%
- EPS Growth YoY
- 7.3%
- Net Income Growth YoY
- 5.7%
Profitability
Trailing 12 months- Gross Margin
- 49.3%
- Operating Margin
- 17.5%
- Net Margin
- 11.3%
- FCF Margin
- 13.0%
- Return on Equity
- 18.5%
Earnings
Trailing 12 months- Net Income
- $2.23B
- EPS (diluted)
- $7.22
- EBITDA
- $5.35B
- Operating Income
- $3.45B
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $92.0M
- Total Debt
- $14.1B
- Net Debt
- $14.0B
- Total Assets
- $35.5B
- Total Liabilities
- $23.3B
- Shareholders' Equity
- $12.2B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $4.50B
- Capital Expenditure
- $1.94B
- Free Cash Flow
- $2.56B
Dividends and risk
Last 12 months- Dividend Yield
- 1.0%
- Dividend / Share
- $2.55
- Beta (5Y)
- 0.39
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $19.7B.
Note
Net margin of 11.3% over the last 12 months.
Note
Net debt of $14.0B is 2.6× EBITDA.
Note
Free cash flow of $2.56B, 13.0% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 30, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K66Mildly positive
66Mildly positive
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 18, 2026 · Read the filing on EDGAR
- Revenue rose 3.5% to $16.6 billion and operating income rose 3.3% to $3.30 billion, helped mostly by price increases and acquisitions.
- Earnings per share rose to $6.85 from $6.49; adjusted EPS of $7.02 was above the 2025 guidance of $6.82–$6.90.
- Strikes in some local markets cost $56 million, and the environmental solutions segment's profit fell from $433 million to $372 million.
- 2026 guidance: revenue of $17.05–$17.15 billion, adjusted EPS of $7.20–$7.28, and about $1 billion of acquisitions.
Business momentum
Improving
“Revenue for the year ended December 31, 2025 increased by 3.5% to $16.6 billion compared to $16.0 billion in 2024.”
Outlook
Positive
“We expect revenue to be in the range of $17.050 billion to $17.150 billion.”
Financial stress
Low
“As of December 31, 2025, our total debt to EBITDA ratio was approximately 2.6 compared to the 3.75 maximum allowed.”
Tone against the previous report
About the same
Red flags
- Minor
Other
“During 2025, we experienced labor disruptions in certain isolated markets. The impact of these labor disruptions was $56 million, including $16 million of customer credits and $40 million of cost of operations.”
Positives
Price increases continued to drive growth
“Average yield increased revenue by 4.1% due to positive pricing changes in all lines of business.”
Operating cash flow grew
“Net cash provided by operating activities $ 4,296 $ 3,936”
Adjusted EPS beat the company's own guidance
“Adjusted diluted earnings per share $7.20 - $7.28 $ 7.02”
Concerns
Customer volumes still falling
“Volume decreased revenue by 0.6% during 2025 as compared to 2024 due to a decrease in volume in our collection lines of business”
Environmental solutions profit dropped
“Adjusted EBITDA in Group 3 decreased from $433 million for the year ended December 31, 2024 to $372 million for the year ended December 31, 2025.”
Debt and interest costs keep rising
“Total interest expense for 2025 increased primarily due to a higher overall debt balance as well as higher interest rates on our debt compared to 2024.”
New risks since the previous report
Strikes and work stoppages actually happened in 2025
“We have experienced interrupted service when our union-represented employees have engaged in strikes and work stoppages in the past, including in 2025”
Industrial and emergency-response business is shrinking
“environmental solutions revenue decreased by 1.0% primarily due to a decline in manufacturing and emergency response activity as well as a decrease in event-based volumes into our landfills.”
New Canadian landfill methane rules
“the Canadian federal government finalized new Landfill Methane Regulations in December 2025, which are intended to reduce waste sector methane emissions by 42% below 2019 levels by 2030.”
Clean-energy tax credits being phased out
“included phase-outs and restrictions on several clean energy tax incentives.”
Growing reliance on AI and technology
“AI models and tools can produce inaccurate, biased, or inconsistent outputs and may rely on third-party content or training data for which we do not have sufficient rights.”
Biggest risks named
- About $14 billion of debt and rising interest costs
- Falling volumes and a weaker economy
- Strikes, union activity and labor cost inflation
- Landfill closure and environmental clean-up liabilities
- PFAS and greenhouse gas regulation
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −0.9 | |
| New risks | −2 | |
| Score | 66 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 30, 2026 | Pro | |||
| 10-K | Feb 18, 2026 | 66 | Improving | 1 minor | |
| 10-K | Feb 14, 2025 | 67 | Improving | None | |
| 10-K | Feb 29, 2024 | 68 | Improving | None | |
| 10-K | Feb 23, 2023 | 73 | Strong improvement | None | |
| 10-K | Feb 11, 2022 | 75 | Strong improvement | None | |
| 10-K | Feb 23, 2021 | 51 | Weakening | 2 minor | |
| 10-K | Feb 14, 2020 | 61 | Stable | None | |
| 10-K | Feb 8, 2019 | 67 | Improving | None | |
| 10-K | Feb 9, 2018 | 73 | Strong improvement | 1 medium |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 30, 2026. View filings on SEC EDGAR