Republic Services, Inc. (RSG)
NEUTRALFundamental
67
Price
$221.94
Market Cap
$67.57B
Part 1 · What the company is worth
Overview
Republic Services collects, transfers, recycles and disposes of household and business trash across the United States. It runs collection trucks that pick up waste under long-term municipal and commercial contracts, transfer stations that consolidate it, and its own landfills where most of it ultimately goes, plus a separate business handling hazardous and industrial waste for manufacturers. Owning the landfills its own trucks feed into, rather than paying another company to take the waste, is central to how the business is structured.
How it makes money
Most revenue comes from recurring collection fees charged to residents, businesses and municipalities under multi-year contracts, many with automatic price increases tied to inflation. A second layer comes from landfill tipping fees charged to any hauler, including competitors, that dumps waste at a Republic-owned site, and a smaller slice from processing and selling recyclable materials, where revenue swings with scrap commodity prices rather than with waste volume.
Revenue by segment
Residential, small-container commercial and large-container industrial waste pickup under recurring contracts.
Tipping fees charged to third-party haulers, including competitors, to dispose of waste at Republic-owned landfills.
Collection, treatment and disposal of hazardous and industrial waste for manufacturers, plus related field and logistics services.
Transfer station fees, sale of processed recyclable materials, and other smaller service lines not broken out separately.
What drives demand
DefensiveHouseholds and businesses generate waste regardless of the economic cycle, and most collection revenue sits inside multi-year contracts with built-in price escalators, which makes the core business steady. The main sources of variability are weather disruptions, labor cost inflation the company can only partly pass through, and swings in recycled-commodity prices, which the company estimates can move revenue and operating income by about $13 million for every $10-per-ton change.
Key risks
- Recycled-commodity price volatility — Fluctuations in prices for recovered materials such as cardboard, paper and metals directly affect the profitability of the recycling business; the company estimates a $10-per-ton price change moves annual revenue and operating income by roughly $13 million.
- Severe weather and climate events — Hurricanes, storms and floods can disrupt collection and landfill operations and increase costs, particularly in regions prone to such events.
- Environmental regulation and PFAS liability — Federal, state and local rules govern landfill operations, emissions, waste handling and recycling; changes such as new PFAS regulation could increase compliance costs and liabilities.
- Labor cost inflation and disruption — The company experienced labor disruptions in certain isolated markets during 2025, and ongoing inflation in labor, fuel and equipment costs is only partly recoverable through contract price escalators, with timing mismatches and competitive pressure limiting full recovery.
Written by the editors, published on August 18, 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$16.89B
Trailing 12 months (through 6/30/2026)
Net Income
$2.19B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$2.41B
Total Equity
$11.97B
Total Liabilities
$22.40B
Current Ratio
0.64
Interest Coverage
5.70
Debt/EBITDA
2.79
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$249.25
Current Price
$221.94
Margin of Safety
+11.0%
Fair Value Range
$178.83 - $319.66
Estimation Methods
Valuation Metrics
P/E Ratio
31.60
ROE
17.9%
P/B Ratio
5.68
P/FCF
25.75
Gross Margin
42.0%
ROIC
8.5%
Profitability Radar
Value Creation (Economic Moat)
ROIC
8.5%
WACC
7.1%
ROIC − WACC
+1.4 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (20)
- EPS shows upward trend
- EPS CAGR 8.76%
- Price CAGR 14.49%
- ROIC 8.5%
- Gross Margin 42.0%
- P/FCF 25.75
- Debt/Equity ratio
- Operating Margin 19.9%
- Positive Free Cash Flow
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 18.3%
- Revenue Growth 5Y 10.3%
- Analyst Consensus 58% Buy
- Earnings Surprise avg 4.2%
- PEG Ratio 1.70
- Earnings Quality (OCF/NI) 2.08
- Share Dilution -0.8%
- Piotroski F-Score 6/9
Failed (7)
- P/B Ratio 5.68
- CapEx intensity
- Current Ratio
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- Net Margin Trend 12.9% vs 13.0%
Unavailable (1)
- Dividend Payout NaN%
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Jon Vander Ark | President, CEO & Director | 50 |
| Mr. Brian M. DelGhiaccio | Executive VP & CFO | 51 |
| Mr. Gregg K. Brummer | Executive VP & COO | 58 |
| Ms. Catharine D. Ellingsen J.D. | Executive VP, Chief Legal Officer, Chief Ethics & Compliance Officer and Corporate Secretary | 61 |
| Mr. Brian A. Bales CPA | Executive VP & Chief Development Officer | 62 |
| Ms. Elyse Carlsen | VP & Chief Accounting Officer | 38 |
| Mr. John Weeks | Vice President of Investor Relations | - |
| Ms. Jeni Bell | Executive VP & Chief Marketing Officer | 48 |
| Ms. Courtney Rodriguez | Executive VP & Chief Human Resources Officer | 50 |
| Ms. Nicole Giandinoto CFA, CTP | Senior Vice President of Business Transformation | - |
Audit Risk
6
Board Risk
1
Compensation Risk
6
Shareholder Rights Risk
2
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Latest News
Recent headlines for RSG, sourced from Markets Gazette.
- 5/8/2026POSITIVEWaste Industry Is Recession-Resilient: Republic Services
Republic Services CEO Jon Vander Ark highlighted the waste management sector's resilience during economic downturns, characterizing it as 'recession-resilient' with robust profit margins. The company is investing $500 million in advanced recycling technologies aimed at converting plastic waste into new bottles. Furthermore, Vander Ark anticipates artificial intelligence (AI) will be a transformative force in optimizing future waste management operations. This strategic focus on innovation and sustainability, coupled with the industry's inherent stability, positions Republic Services favorably for long-term investor value.
- 3/5/2026NEUTRALRepublic Services Stock: A Deep Dive Into Analyst Perspectives (10 Ratings)
Recent analyst ratings for Republic Services (RSG) present a mixed picture, with a focus on sustained 'Overweight' recommendations from Morgan Stanley (March 2022, February 2022) and a 'Hold' rating from Deutsche Bank (February 2022). While there are no recent downgrades or upgrades indicating a drastic shift in sentiment, the prevalence of positive ratings suggests a generally favorable outlook on the stock by some key analysts. However, the absence of new initiatives or recent financial data makes this news primarily informational, without a clear immediate impact on the stock price.
via Markets Gazette