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Second-largest US waste-collection and disposal company, operating landfills, recycling and environmental services.
Second-largest US waste-collection and disposal company, operating landfills, recycling and environmental services.
Is paid by households and businesses under municipal and private collection contracts, and per ton to dump at its landfills, where owning disposal capacity lets it route its own collected waste there. It reached its present scale in the 2008 merger with Allied Waste and added hazardous-waste treatment by buying US Ecology in 2022.
Moat: wide (regulatory licence, scale, installed base). Landfill permits are extremely scarce, giving incumbents durable local pricing power.
Headquarters: Phoenix, Arizona, US · Founded: 1998 · Employees: 42,000
Size Republic Services (RSG) is a United States Industrials company (Environmental Services) with a market value of $75.2B, the 179th largest of 3,117 United States companies the cockpit tracks. Shares closed at $246.85 on 6 Nov 2026.
Performance Over six months the shares gained 23.8%, against -5.9% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 4.5% over the last twelve months (peer median +5.4%); the operating margin is 20.1% (peer median 17.4%).
Valuation It trades at 31.9× forward earnings against a peer median of 18.1× (3rd most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.0 points above its cost of capital (6.3% WACC).
Credit Republic Services has 18 bonds outstanding ($10.6B), rated A- by the agencies and trading like A+ at a weighted spread of 56 bp.
Short interest Short interest is 1.6% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $17.2B | $16.6B | $16.0B | $15.0B | $13.5B |
| Revenue growth | — | +3% | +7% | +11% | — |
| Gross profit | $5.22B | $5.03B | $4.90B | $4.42B | $3.87B |
| EBITDA | $5.49B | $5.25B | $5.01B | $4.44B | $3.85B |
| Net income | $2.23B | $2.14B | $2.04B | $1.73B | $1.49B |
| Free cash flow | $2.56B | $2.41B | $2.08B | $1.99B | $1.74B |
| Capital expenditure | $1.94B | $1.89B | $1.85B | $1.63B | $1.45B |
| Total debt | $14.3B | $13.8B | $13.0B | $13.1B | $12.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Republic Services RSG | $75.2B | +24% | +4% | 20% | 31.9× | 6.6% |
| Waste Management WM | $93.9B | +10% | +5% | 19% | 27.4× | 5.8% |
| Waste Connections WCN.TO | $47.6B | +27% | +6% | 18% | 31.6× | 10.7% |
| GFL Environmental GFL | $20.2B | +26% | +5% | 5% | 58.8× | 42.5% |
| Casella Waste Systems CWST | $6.25B | +15% | +14% | 5% | 72.1× | 36.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RSG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.8% | +3.4% | 4th highest of 21 |
| 6-month return | +23.8% | -5.9% | 4th highest of 21 |
| Distance from 52-week high | -3.0% | -20.1% | 4th highest of 21 |
| Revenue growth (TTM) | +4.5% | +5.4% | 8th lowest of 21 |
| Operating margin | 20.1% | 17.4% | 7th highest of 19 |
| Forward P/E | 31.9× | 18.1× | 3rd most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 6.6% | 3.7% | 6th most demanding of 15 |
| Growth delivered (Del g) | +10.3% | +12.6% | 6th lowest of 15 |
| Hurdle (Req g minus delivered) | -3.7 pp | -5.7 pp | 7th most demanding of 15 |
| ROIC minus cost of capital | +4.0 pp | +0.5 pp | 4th highest of 19 |
| EV / EBITDA | 16.3× | 13.5× | 4th most expensive of 10 |
| Net debt / EBITDA | 2.6× | 2.9× | 5th least indebted of 10 |
| Bond spread | 56 bp | 97 bp | 2nd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Republic Services RSG | United States | $75.2B | +24% | +4% | 20% | 31.9× | 6.6% | +10.3% |
| Waste Management WM | United States | $93.9B | +10% | +5% | 19% | 27.4× | 5.8% | +10.6% |
| Waste Connections WCN.TO | Canada | $47.6B | +27% | +6% | 18% | 31.6× | 10.7% | +12.6% |
| GFL Environmental GFL | United States | $20.2B | +26% | +5% | 5% | 58.8× | 42.5% | +7.9% |
| Clean Harbors CLH | United States | $15.0B | -2% | +10% | 13% | 29.2× | 11.7% | +13.9% |
| Casella Waste Systems CWST | United States | $6.25B | +15% | +14% | 5% | 72.1× | 36.3% | +18.8% |
| Fomento de Construcciones y Contratas FCC.MC | Spain | $5.53B | -10% | +10% | 7% | 15.1× | 2.9% | +9.5% |
| Cleanaway Waste Management CWY.AX | Australia | $4.68B | +35% | +13% | 8% | 28.2× | 20.5% | +12.6% |
| Grandblue Environment 600323.SS | China | $3.78B | -3% | +24% | 24% | 11.0× | -4.7% | +13.3% |
| Daiei Kankyo 9336.T | Japan | $2.57B | +8% | +14% | 26% | 24.2× | 4.2% | +7.4% |
| Beijing GeoEnviron Engineering & Technology 603588.SS | China | $2.55B | -23% | +50% | 12% | 10.5× | 2.7% | +16.6% |
| Hunan Junxin Environmental Protection 301109.SZ | China | $1.73B | -9% | +1% | n/a | 14.2× | n/a | n/a |
| Befesa BFSA.DE | Germany | $1.67B | +6% | -2% | n/a | 13.0× | 3.1% | +14.4% |
| China Tianying 000035.SZ | China | $1.64B | -30% | -1% | 16% | 21.9× | n/a | n/a |
| Shanghai Environment 601200.SS | China | $1.40B | -16% | -10% | 18% | 14.7× | -2.6% | +6.8% |
| Wuhan Tianyuan 301127.SZ | China | $1.31B | -5% | +5% | 17% | 31.1× | n/a | n/a |
| Wangneng Environment 002034.SZ | China | $1.12B | -15% | 0% | 30% | 9.6× | -13.6% | +14.1% |
| Zhongyuan Environmental Protection 000544.SZ | China | $1.05B | -15% | 0% | 32% | 5.1× | n/a | n/a |
| Daiseki 9793.T | Japan | $1.02B | -20% | +4% | 21% | 14.0× | -7.6% | +6.9% |
| China Sciences Ecorizon Tech 301175.SZ | China | $1.01B | -7% | +42% | 25% | 18.1× | n/a | n/a |
| Huaxin Resources Technology 301265.SZ | China | $1,000M | -14% | +13% | 7% | n/a | n/a | n/a |
Republic Services has 18 bonds outstanding with $10.6B face value. The agencies rate it A-; its bonds trade like A+. Weighted yield 5.21%, a spread of 56 bp over government bonds.