Republic Services, Inc.RSG
NYSE•Industrials•Waste Management
Republic Services, Inc., together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions. Its residential collection services include curbside collection of material for transport to transfer stations, landfills, recycling centers, and organics processing facilities; supply of recycling and waste containers; and renting of compactors. The company also engages in the processing and sale of old corrugated containers, old newsprint, aluminum, glass, and other materials; and provision of landfill services. It serves small-container, large-container, and residential customers. The company was incorporated in 1996 and is based in Phoenix, Arizona.
Republic Services, Inc. (RSG) reported trailing twelve months revenue of $19.13B as of March 2026, a 3.0% increase year-over-year. Quarterly revenue reached $4.70B, reflecting continued top-line momentum.
Republic Services, Inc. generated $2.17B in TTM net income, with quarterly EBITDA of $1.29B. The operating margin expanded from 17.5% to 17.7%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (17.7%) and net margin (11.2%) indicates moderate non-operating costs. Net margin has improved from 10.8% a year ago, signaling stronger bottom-line efficiency.
RSG trades at a P/E of 31.6x (a premium multiple) and a P/S of 3.6x. The price-to-book ratio of 5.7x indicates a significant premium over book value.
The company generated $751.00M in free cash flow over the trailing twelve months, a 32.7% increase year-over-year, indicating cash generation ability. The balance sheet shows $34.60B in total assets with $13.32B in long-term debt against $11.98B in stockholders equity for a debt-to-equity ratio of 1.1. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~17.5%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 17.7% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~6.8% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~17.4% — no sign of cost or pricing stress.
FCF covers net income by 1.2x on average — earnings are well-supported by cash generation.
D/E ratio is 1.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation