RSG Industrials

Republic Services, Inc.

$242.87-1.26%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Waste Management
Country: United States
Market cap: 74.4B USD
Enterprise value: 84.9B USD
Full-time employees: 42,000

Overall health

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.64 vs a peer median of 1.62) and more debt relative to equity (1.17× vs a peer median of 0.40×)higher risk: less liquidity (current ratio 0.64 vs peers 1.62) and more debt vs equity (1.17× vs peers 0.40×)
About average: growth and valuation

Ranks #1,360 of 2,308 industrials companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $12.0B in 2020 to $19.0B in 2025.
Republic Services's fiscal-year revenue rose in each of the five years to 2025, from $12.0B to $19.0B.
Profit is backed by cash. Free cash flow is 121% of reported profit.
Republic Services's free cash flow is 121% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Wide margins. Operating margin 17% (12 months to Jun 2026) vs a peer median of 7.7%.Operating margin 17% vs peers 7.7%.
Republic Services keeps 17% of revenue as operating profit, more than 84% of peers (median 7.7%).

StockQuotient Score

47/ 100

Oct 5 49 → Nov 4 47 (-2)

Valuation

Is the price right?

41/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 42 → 41

Share price +3.1%-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.9%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield5.9%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.24Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield3.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.04Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield16.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

47/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth5.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.08Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth5.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.13Sector median: 0.0421 · MAD: 0.0625

Revenue growth2.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.20Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

77/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Score 76 → 77

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin17.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.91Sector median: 0.0773 · MAD: 0.0507

Return on assets6.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.29Sector median: 0.0311 · MAD: 0.0241

Return on invested capital10.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.55Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin49.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity18.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 24 → 23

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.40

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.89Sector median: 0.6440 · MAD: 0.2745

Current ratio0.64×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -1.77Sector median: 1.6180 · MAD: 0.5360

Debt / equity1.17×

SEC filings · latest balance sheetReported value33% base weight · Z-score -2.27Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Republic Services

Is Republic Services getting weaker?: Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is unchanged at 47/100 since Oct 28, 2026.
How is Republic Services valued vs its peers?: Priced about in line with its peers. Valuation scores 41/100 against 2,459 industrials peers.
Is Republic Services growing?: At about the same pace as its peers. Growth scores 47/100 against 2,459 industrials peers.
How profitable is Republic Services?: More profitable than most of its peers. Profitability scores 77/100 against 2,459 industrials peers. Operating margin 17.4% vs a peer median of 7.7% (stronger than 84% of peers).Operating margin 17.4% vs peers 7.7% (stronger than 84% of peers).
How risky is Republic Services?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 0.40 vs a peer median of 0.64 (stronger than 77% of peers).Beta 0.40 vs peers 0.64 (stronger than 77% of peers). Current ratio 0.64× vs a peer median of 1.62× (weaker than 100% of peers).Current ratio 0.64× vs peers 1.62× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	19.1B USD	19.3B USD	+1.0%
Net income (12 months)	2.2B USD	2.2B USD	+0.8%
Operating margin	17.4%	17.4%	+0.0 pts
Free cash flow (12 months)	2.6B USD	2.7B USD	+2.3%
Debt	13.9B USD	14.1B USD	+1.5%
Cash	118.0M USD	107.0M USD	−9.3%
Shares outstanding	307.7M	306.2M	−0.5%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Waste Management companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	49.4%	47.6%	48.2%	49.2%	49.4%	▲ 0.2 pts
Operating margin	15.6%	15.3%	16.1%	17.4%	17.4%	▲ 0.0 pts
Net margin	9.7%	9.5%	10.0%	11.1%	11.2%	▲ 0.1 pts
Return on assets (ROA)	5.2%	5.1%	5.5%	6.3%	6.2%	▼ 0.1 pts
Return on equity (ROE)	14.4%	15.4%	16.4%	17.9%	17.9%	▼ 0.0 pts
Free cash flow margin	11.0%	11.1%	11.5%	11.3%	12.7%	▲ 1.4 pts
Current ratio	0.71×	0.70×	0.56×	0.58×	0.64×	▲ 10%
Quick ratio	0.68×	0.67×	0.54×	0.56×	0.62×	▲ 10%
Debt to equity	1.08×	1.23×	1.22×	1.13×	1.15×	▲ 1.8%
Interest coverage	6.60×	6.05×	5.47×	5.93×	5.75×	▼ 3.0%

RSG price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.64 vs a peer median of 1.62) and more debt relative to equity (1.17× vs a peer median of 0.40×)higher risk: less liquidity (current ratio 0.64 vs peers 1.62) and more debt vs equity (1.17× vs peers 0.40×)

About average: growth and valuation

Ranks #1,360 of 2,308 industrials companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $12.0B in 2020 to $19.0B in 2025.

Republic Services's fiscal-year revenue rose in each of the five years to 2025, from $12.0B to $19.0B.

Profit is backed by cash. Free cash flow is 121% of reported profit.

Republic Services's free cash flow is 121% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Wide margins. Operating margin 17% (12 months to Jun 2026) vs a peer median of 7.7%.Operating margin 17% vs peers 7.7%.

Republic Services keeps 17% of revenue as operating profit, more than 84% of peers (median 7.7%).

Questions investors ask about Republic Services

Is Republic Services getting weaker?

Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is unchanged at 47/100 since Oct 28, 2026.

How is Republic Services valued vs its peers?

Priced about in line with its peers. Valuation scores 41/100 against 2,459 industrials peers.

Is Republic Services growing?

At about the same pace as its peers. Growth scores 47/100 against 2,459 industrials peers.

How profitable is Republic Services?

More profitable than most of its peers. Profitability scores 77/100 against 2,459 industrials peers. Operating margin 17.4% vs a peer median of 7.7% (stronger than 84% of peers).Operating margin 17.4% vs peers 7.7% (stronger than 84% of peers).

How risky is Republic Services?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 0.40 vs a peer median of 0.64 (stronger than 77% of peers).Beta 0.40 vs peers 0.64 (stronger than 77% of peers). Current ratio 0.64× vs a peer median of 1.62× (weaker than 100% of peers).Current ratio 0.64× vs peers 1.62× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

19.1B USD

19.3B USD

+1.0%

Net income (12 months)

2.2B USD

2.2B USD

+0.8%

Operating margin

17.4%

17.4%

+0.0 pts

Free cash flow (12 months)

2.6B USD

2.7B USD

+2.3%

Debt

13.9B USD

14.1B USD

+1.5%

Cash

118.0M USD

107.0M USD

−9.3%

Shares outstanding

307.7M

306.2M

−0.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

49.4%

47.6%

48.2%

49.2%

49.4%

▲ 0.2 pts

Operating margin

15.6%

15.3%

16.1%

17.4%

▲ 0.0 pts

Net margin

9.7%

9.5%

10.0%

11.1%

11.2%

▲ 0.1 pts

Return on assets (ROA)

5.2%

5.1%

5.5%

6.3%

6.2%

▼ 0.1 pts

Return on equity (ROE)

14.4%

15.4%

16.4%

17.9%

▼ 0.0 pts

Free cash flow margin

11.0%

11.1%

11.5%

11.3%

12.7%

▲ 1.4 pts

Current ratio

0.71×

0.70×

0.56×

0.58×

0.64×

▲ 10%

Quick ratio

0.68×

0.67×

0.54×

0.56×

0.62×

▲ 10%

Debt to equity

1.08×

1.23×

1.22×

1.13×

1.15×

▲ 1.8%

Interest coverage

6.60×

6.05×

5.47×

5.93×

5.75×

▼ 3.0%