Republic Services (RSG) Financials

$245.79 +1.87 (+0.77%)

As of 03:59 PM Eastern

Annual Income Statements for Republic Services

This table shows Republic Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	750	613	1,278	1,037	1,073	967	1,290	1,488	1,731	2,043
Consolidated Net Income / (Loss)	750	613	1,279	1,038	1,074	970	1,292	1,488	1,731	2,044
Net Income / (Loss) Continuing Operations	750	613	1,279	1,038	1,074	970	1,292	1,488	1,731	2,044
Total Pre-Tax Income	1,196	966	1,282	1,321	1,296	1,143	1,575	1,832	2,191	2,432
Total Operating Income	1,559	1,538	1,669	1,736	1,787	1,709	2,076	2,392	2,780	3,196
Total Gross Profit	3,596	3,624	3,827	3,891	4,001	4,053	4,557	5,306	6,022	6,682
Total Revenue	9,115	9,388	10,042	10,041	10,299	10,154	11,295	13,511	14,965	16,032
Operating Revenue	9,115	9,388	10,042	10,041	10,299	10,154	11,295	13,511	14,965	16,032
Total Cost of Revenue	5,519	5,764	6,215	6,150	6,298	6,101	6,738	8,205	8,943	9,350
Operating Cost of Revenue	5,519	5,764	6,215	6,150	6,298	6,101	6,738	8,205	8,943	9,350
Total Operating Expenses	2,038	2,086	2,158	2,155	2,214	2,344	2,481	2,914	3,242	3,486
Selling, General & Admin Expense	983	970	1,057	1,060	1,092	1,053	1,196	1,454	1,609	1,674
Depreciation Expense	971	991	1,036	1,033	1,041	1,076	1,186	1,352	1,501	1,677
Other Operating Expenses / (Income)	79	79	80	81	82	83	83	89	98	107
Impairment Charge	0.00	-0.10	-34	-45	-15	78	0.50	-6.00	-4.00	-1.00
Restructuring Charge	0.00	41	18	26	14	20	17	27	33	29
Other Special Charges / (Income)	4.50	5.60	1.20	0.00	0.00	35	0.00	-2.00	5.00	0.00
Total Other Income / (Expense), net	-363	-572	-386	-415	-491	-566	-501	-560	-589	-764
Interest Expense	365	568	363	384	392	458	315	395	508	541
Interest & Investment Income	0.80	-5.20	-26	-34	-106	-113	-186	-163	-88	-246
Other Income / (Expense), net	1.20	1.10	2.70	3.40	6.40	4.10	-0.50	-2.00	7.00	23
Income Tax Expense	446	353	3.10	283	222	173	283	344	460	388
Net Income / (Loss) Attributable to Noncontrolling Interest	0.50	0.60	0.60	0.70	0.50	2.40	1.90	0.00	0.00	1.00
Basic Earnings per Share	$2.14	$1.79	$3.79	$3.17	$3.34	$3.03	$4.05	$4.70	$5.47	$6.50
Weighted Average Basic Shares Outstanding	349.98M	343.02M	337.10M	326.90M	321.06M	319.28M	318.81M	316.53M	316.18M	314.40M
Diluted Earnings per Share	$2.13	$1.78	$3.77	$3.16	$3.33	$3.02	$4.04	$4.69	$5.47	$6.49
Weighted Average Diluted Shares Outstanding	351.39M	344.39M	339M	328.38M	321.99M	319.84M	319.43M	317.08M	316.67M	314.81M
Weighted Average Basic & Diluted Shares Outstanding	339.13M	342.20M	337.30M	327.10M	319.06M	318.90M	316.43M	316.04M	314.61M	312.28M
Cash Dividends to Common per Share	$1.16	$1.24	$1.33	$1.44	$1.56	$1.66	$1.77	$1.91	$2.06	$2.23

This table shows Republic Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	417	347	384	427	480	440	454	512	566	512
Consolidated Net Income / (Loss)	417	347	384	428	480	439	454	512	566	513
Net Income / (Loss) Continuing Operations	417	347	384	428	480	439	454	512	566	513
Total Pre-Tax Income	508	374	522	580	606	482	599	654	647	533
Total Operating Income	664	578	644	707	728	701	733	814	846	804
Total Gross Profit	1,404	1,348	1,412	1,502	1,542	1,567	1,579	1,665	1,709	1,729
Total Revenue	3,598	3,530	3,581	3,726	3,826	3,832	3,862	4,048	4,076	4,046
Operating Revenue	3,598	3,530	3,581	3,726	3,826	3,832	3,862	4,048	4,076	4,046
Total Cost of Revenue	2,194	2,182	2,170	2,224	2,284	2,265	2,283	2,383	2,367	2,317
Operating Cost of Revenue	2,194	2,182	2,170	2,224	2,284	2,265	2,283	2,383	2,367	2,317
Total Operating Expenses	739	771	768	794	814	866	846	852	863	925
Selling, General & Admin Expense	361	395	379	396	402	432	414	408	406	446
Depreciation Expense	354	350	359	358	382	402	399	413	422	443
Other Operating Expenses / (Income)	23	22	24	25	25	25	27	27	27	27
Restructuring Charge	6.80	8.30	5.50	16	6.30	5.70	5.90	5.70	8.20	9.20
Total Other Income / (Expense), net	-157	-204	-122	-127	-122	-219	-134	-160	-199	-271
Interest Expense	105	112	127	124	128	129	139	128	141	133
Interest & Investment Income	-51	-96	2.40	-2.00	4.80	-93	-7.20	-32	-69	-138
Other Income / (Expense), net	-0.30	4.50	2.50	-0.60	1.30	3.80	13	0.70	10	-0.60
Income Tax Expense	91	27	138	153	126	43	145	142	81	20
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.20	0.00	0.20	0.10	-0.30	-0.10	0.40	0.20	0.50
Basic Earnings per Share	$1.32	$1.09	$1.21	$1.35	$1.52	$1.39	$1.44	$1.62	$1.80	$1.64
Weighted Average Basic Shares Outstanding	316.51M	316.53M	316.71M	316.85M	316.06M	316.18M	315.29M	314.91M	314.00M	314.40M
Diluted Earnings per Share	$1.32	$1.09	$1.21	$1.35	$1.52	$1.39	$1.44	$1.62	$1.80	$1.63
Weighted Average Diluted Shares Outstanding	317.05M	317.08M	317.14M	317.31M	316.56M	316.67M	315.69M	315.24M	314.37M	314.81M
Weighted Average Basic & Diluted Shares Outstanding	316.00M	316.04M	316.28M	316.33M	314.64M	314.61M	314.93M	314.07M	313.15M	312.28M
Cash Dividends to Common per Share	$0.50	$0.50	$0.50	$0.50	$0.54	$0.53	$0.54	$0.54	$0.58	$0.58

This table details how cash moves in and out of Republic Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-43	27	66	-46	44	-63	-8.60	108	14	-25
Net Cash From Operating Activities	1,680	1,848	1,911	2,243	2,352	2,472	2,787	3,190	3,618	3,936
Net Cash From Continuing Operating Activities	1,680	1,848	1,911	2,243	2,352	2,472	2,787	3,190	3,618	3,912
Net Income / (Loss) Continuing Operations	750	613	1,279	1,038	1,074	970	1,292	1,488	1,731	2,044
Consolidated Net Income / (Loss)	750	613	1,279	1,038	1,074	970	1,292	1,488	1,731	2,044
Depreciation Expense	1,050	1,070	1,116	1,114	1,122	1,159	1,268	1,441	1,599	1,784
Non-Cash Adjustments To Reconcile Net Income	-0.70	256	70	80	166	344	278	254	220	306
Changes in Operating Assets and Liabilities, net	-120	-91	-555	11	-10	-0.50	-52	7.00	68	-222
Net Cash From Investing Activities	-1,483	-965	-1,330	-1,229	-1,719	-1,923	-2,466	-4,423	-3,667	-2,561
Net Cash From Continuing Investing Activities	-1,483	-965	-1,330	-1,229	-1,719	-1,923	-2,466	-4,423	-3,667	-2,561
Purchase of Property, Plant & Equipment	-946	-928	-990	-1,072	-1,207	-1,195	-1,316	-1,454	-1,631	-1,855
Acquisitions	-573	-62	-352	-277	-575	-770	-1,222	-3,039	-2,065	-753
Purchase of Investments	-	-30	-19	-38	-15	-33	-31	-20	-29	-26
Sale of Property, Plant & Equipment	21	9.80	6.10	32	22	30	20	33	29	47
Divestitures	0.00	15	4.70	89	43	33	46	51	6.00	2.00
Sale and/or Maturity of Investments	-	32	18	38	14	11	38	20	13	24
Other Investing Activities, net	14	-1.30	1.00	-0.30	-0.10	0.00	-1.00	-14	10	0.00
Net Cash From Financing Activities	-240	-857	-514	-1,060	-589	-612	-329	1,344	62	-1,398
Net Cash From Continuing Financing Activities	-240	-857	-514	-1,060	-589	-612	-329	1,344	62	-1,398
Repayment of Debt	-914	-4,484	-4,923	-5,001	-5,328	-5,321	-5,305	-14,282	-40,411	-25,109
Repurchase of Common Equity	-405	-404	-611	-737	-399	-99	-264	-216	-263	-496
Payment of Dividends	-400	-420	-441	-462	-491	-523	-586	-594	-638	-687
Issuance of Debt	1,416	4,401	5,433	5,129	5,638	5,342	5,847	16,446	41,393	24,909
Other Financing Activities, net	-3.20	-	-9.20	-12	-17	-16	-21	-10	-19	-15
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	-2.00

This table details how cash moves in and out of Republic Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-36	66	-7.60	66	-19	-26	-69	433	-386	-3.50
Net Cash From Operating Activities	817	810	688	1,079	953	899	812	1,099	1,003	1,022
Net Cash From Continuing Operating Activities	817	810	688	1,079	953	899	812	1,099	1,003	998
Net Income / (Loss) Continuing Operations	417	347	384	428	480	439	454	512	566	513
Consolidated Net Income / (Loss)	417	347	384	428	480	439	454	512	566	513
Depreciation Expense	377	372	383	383	407	426	426	440	449	470
Non-Cash Adjustments To Reconcile Net Income	70	108	29	35	38	118	39	76	82	109
Changes in Operating Assets and Liabilities, net	-47	-18	-108	233	27	-85	-107	72	-93	-93
Net Cash From Investing Activities	-417	-722	-653	-1,021	-427	-1,566	-679	-434	-636	-813
Net Cash From Continuing Investing Activities	-417	-722	-653	-1,021	-427	-1,566	-679	-434	-636	-813
Purchase of Property, Plant & Equipment	-278	-529	-379	-336	-369	-548	-515	-403	-440	-498
Acquisitions	-193	-191	-291	-697	-63	-1,014	-166	-35	-199	-353
Purchase of Investments	-6.60	-4.30	-4.50	-5.20	-4.10	-15	-12	-5.00	-0.90	-8.10
Sale of Property, Plant & Equipment	4.00	9.00	6.00	11	7.90	4.00	2.40	2.90	3.30	38
Divestitures	50	0.90	-0.70	0.40	2.00	4.30	0.00	1.70	0.80	-0.50
Sale and/or Maturity of Investments	6.90	4.60	4.40	4.70	4.00	-0.10	12	4.90	-	7.60
Other Investing Activities, net	-1.30	-12	11	0.50	-4.00	2.50	0.00	-0.20	-0.10	0.30
Net Cash From Financing Activities	-433	-22	-42	8.30	-546	641	-201	-233	-754	-210
Net Cash From Continuing Financing Activities	-433	-22	-42	8.30	-546	641	-201	-233	-754	-210
Repayment of Debt	-5,445	-5,810	-7,730	-8,557	-11,554	-12,570	-6,441	-4,833	-4,672	-9,163
Repurchase of Common Equity	2.60	0.40	-11	4.00	-188	-68	-25	-163	-150	-158
Payment of Dividends	-146	-157	-156	-157	-157	-169	-169	-169	-168	-182
Issuance of Debt	5,158	5,950	7,859	8,726	11,355	13,453	6,437	4,936	4,243	9,293
Other Financing Activities, net	-1.60	-5.50	-4.20	-7.40	-2.50	-4.90	-3.30	-4.70	-6.20	-0.80

This table presents Republic Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	20,536	20,630	21,147	21,617	22,684	23,434	24,955	29,053	31,410	32,402
Total Current Assets	1,230	1,285	1,437	1,564	1,606	1,522	1,711	2,357	2,381	2,406
Cash & Equivalents	32	68	83	71	47	38	29	143	140	74
Accounts Receivable	963	995	1,106	1,103	1,126	1,091	1,271	1,677	1,768	1,821
Other Current Assets	235	222	248	391	433	392	410	537	473	511
Plant, Property, & Equipment, net	7,553	7,589	7,777	8,020	0.00	0.00	9,232	10,744	11,351	11,877
Total Noncurrent Assets	11,753	11,757	11,933	12,033	21,078	21,912	14,012	15,952	17,678	18,119
Long-Term Investments	100	91	141	108	179	149	139	128	164	208
Goodwill	11,146	11,163	11,315	11,400	11,633	12,046	12,826	14,452	15,834	15,982
Intangible Assets	246	182	141	107	134	173	260	347	496	546
Other Noncurrent Operating Assets	261	321	335	418	9,131	9,544	788	1,026	1,184	1,383
Total Liabilities & Shareholders' Equity	20,536	20,630	21,147	21,617	22,684	23,434	24,955	29,053	31,410	32,402
Total Liabilities	12,759	12,936	13,186	13,688	14,563	14,945	15,975	19,366	20,867	20,995
Total Current Liabilities	1,835	1,812	2,635	2,719	3,065	2,282	2,416	3,391	4,228	4,128
Short-Term Debt	5.50	5.80	707	691	930	168	8.20	456	932	862
Accounts Payable	577	554	598	762	778	779	910	1,222	1,412	1,345
Accrued Expenses	866	868	943	729	947	935	1,054	1,191	1,313	1,335
Current Deferred Revenue	314	313	312	339	336	346	381	443	467	485
Other Current Nonoperating Liabilities	72	72	75	69	74	55	62	79	104	101
Total Noncurrent Liabilities	10,925	11,124	10,551	10,969	11,498	12,663	13,560	15,975	16,639	16,867
Long-Term Debt	7,527	7,653	7,481	7,647	7,759	8,766	9,546	11,330	11,887	11,851
Asset Retirement Reserve & Litigation Obligation	1,956	1,959	1,962	1,972	1,980	1,977	2,142	2,456	2,630	2,834
Noncurrent Deferred & Payable Income Tax Liabilities	1,132	1,210	796	1,028	1,181	1,239	1,230	1,529	1,527	1,594
Other Noncurrent Operating Liabilities	309	301	312	321	579	682	642	661	595	588
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,777	7,694	7,961	7,930	8,121	8,489	8,980	9,687	10,543	11,407
Total Preferred & Common Equity	7,774	7,691	7,959	7,927	8,118	8,484	8,979	9,686	10,542	11,405
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	7,774	7,691	7,959	7,927	8,118	8,484	8,979	9,686	10,542	11,405
Common Stock	4,681	4,768	4,843	4,928	4,998	2,745	2,793	2,846	2,904	1,770
Retained Earnings	3,138	3,324	4,153	4,751	5,317	5,752	6,476	7,356	8,434	9,774
Treasury Stock	-15	-415	-1,059	-1,783	-2,200	-0.10	-275	-505	-784	-113
Accumulated Other Comprehensive Income / (Loss)	-31	14	23	31	2.20	-12	-15	-12	-12	-26
Noncontrolling Interest	2.50	2.40	2.30	2.40	2.70	4.90	0.80	0.80	1.00	2.00

This table presents Republic Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	28,401	29,053	29,081	29,823	30,043	31,410	31,382	31,934	31,814	32,402
Total Current Assets	2,199	2,357	2,241	2,262	2,348	2,381	2,274	2,660	2,348	2,406
Cash & Equivalents	81	143	132	182	158	140	92	491	83	74
Accounts Receivable	1,699	1,677	1,686	1,740	1,830	1,768	1,763	1,818	1,848	1,821
Other Current Assets	419	537	423	340	361	473	419	351	418	511
Plant, Property, & Equipment, net	0.00	10,744	10,659	10,562	10,701	11,351	11,311	11,447	11,526	11,877
Total Noncurrent Assets	26,202	15,952	16,181	17,000	16,993	17,678	17,798	17,828	17,940	18,119
Long-Term Investments	122	128	133	150	153	164	143	178	203	208
Goodwill	14,194	14,452	14,622	15,354	15,291	15,834	15,852	15,865	15,883	15,982
Intangible Assets	399	347	356	432	447	496	483	463	455	546
Other Noncurrent Operating Assets	11,486	1,026	1,071	1,065	1,102	1,184	1,319	1,322	1,399	1,383
Total Liabilities & Shareholders' Equity	28,401	29,053	29,081	29,823	30,043	31,410	31,382	31,934	31,814	32,402
Total Liabilities	18,911	19,366	19,164	19,619	19,710	20,867	20,561	20,928	20,584	20,995
Total Current Liabilities	3,164	3,391	3,029	2,988	4,069	4,228	4,326	4,534	3,642	4,128
Short-Term Debt	456	456	457	153	932	932	1,432	1,433	513	862
Accounts Payable	1,024	1,222	984	1,098	1,198	1,412	1,179	1,286	1,225	1,345
Accrued Expenses	1,163	1,191	1,058	1,177	1,366	1,313	1,136	1,240	1,303	1,335
Current Deferred Revenue	463	443	467	467	485	467	472	473	486	485
Other Current Nonoperating Liabilities	58	79	63	93	88	104	106	103	114	101
Total Noncurrent Liabilities	15,747	15,975	16,135	16,631	15,642	16,639	16,235	16,394	16,943	16,867
Long-Term Debt	11,180	11,330	11,468	11,960	10,993	11,887	11,400	11,527	12,047	11,851
Asset Retirement Reserve & Litigation Obligation	2,401	2,456	2,482	2,544	2,578	2,630	2,655	2,698	2,729	2,834
Noncurrent Deferred & Payable Income Tax Liabilities	1,482	1,529	1,557	1,517	1,475	1,527	1,578	1,569	1,591	1,594
Other Noncurrent Operating Liabilities	684	661	629	610	596	595	603	600	575	588
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,491	9,687	9,917	10,205	10,332	10,543	10,821	11,006	11,230	11,407
Total Preferred & Common Equity	9,490	9,686	9,917	10,204	10,331	10,542	10,820	11,005	11,229	11,405
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	9,490	9,686	9,917	10,204	10,331	10,542	10,820	11,005	11,229	11,405
Common Stock	2,834	2,846	2,862	2,877	2,891	2,904	2,919	2,935	2,949	1,770
Retained Earnings	7,167	7,356	7,583	7,853	8,164	8,434	8,718	9,061	9,444	9,774
Treasury Stock	-501	-505	-519	-519	-721	-784	-812	-982	-1,146	-113
Accumulated Other Comprehensive Income / (Loss)	-11	-12	-9.30	-6.70	-2.50	-12	-5.30	-9.10	-19	-26
Noncontrolling Interest	0.60	0.80	0.80	1.00	1.10	1.00	0.80	1.20	1.40	2.00

This table displays calculated financial ratios and metrics derived from Republic Services' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.54%	2.99%	6.96%	-0.01%	2.57%	-1.42%	11.24%	19.62%	10.76%	7.13%
EBITDA Growth	17.58%	-0.05%	6.84%	2.37%	2.20%	-1.51%	16.43%	14.57%	14.49%	14.07%
EBIT Growth	26.34%	-1.37%	8.62%	4.07%	3.13%	-4.48%	21.16%	15.14%	16.61%	15.50%
NOPAT Growth	28.17%	-0.21%	70.53%	-18.08%	8.62%	-2.08%	17.46%	14.06%	13.05%	22.30%
Net Income Growth	36.96%	-18.28%	108.58%	-18.87%	3.49%	-9.70%	33.28%	15.14%	16.33%	18.08%
EPS Growth	39.22%	-16.43%	111.80%	-16.18%	5.38%	-9.31%	33.77%	16.09%	16.63%	18.65%
Operating Cash Flow Growth	9.80%	10.01%	3.40%	17.38%	4.87%	5.08%	12.75%	14.47%	13.42%	8.79%
Free Cash Flow Firm Growth	-42.21%	145.73%	-4.52%	29.32%	-18.60%	-16.74%	-30.76%	-260.78%	134.60%	506.76%
Invested Capital Growth	3.96%	0.00%	4.80%	0.99%	3.09%	3.80%	6.58%	15.48%	8.84%	3.35%
Revenue Q/Q Growth	0.68%	0.96%	1.83%	-0.30%	0.46%	-0.03%	3.48%	4.46%	2.06%	1.36%
EBITDA Q/Q Growth	8.52%	1.44%	1.45%	2.14%	-0.47%	-0.72%	3.06%	3.62%	4.21%	2.89%
EBIT Q/Q Growth	13.69%	2.42%	1.08%	4.48%	-1.06%	-1.77%	3.36%	3.53%	4.63%	3.12%
NOPAT Q/Q Growth	14.97%	1.92%	60.35%	-26.15%	3.14%	0.13%	4.69%	0.11%	5.05%	4.94%
Net Income Q/Q Growth	19.40%	2.89%	59.06%	-25.94%	-1.02%	-5.25%	6.32%	2.36%	5.63%	3.70%
EPS Q/Q Growth	19.66%	4.09%	59.07%	-24.76%	-0.60%	-5.33%	6.60%	2.40%	5.80%	3.84%
Operating Cash Flow Q/Q Growth	-4.17%	7.76%	2.16%	-1.44%	3.04%	-0.11%	3.20%	5.32%	2.51%	3.24%
Free Cash Flow Firm Q/Q Growth	-3.51%	12.66%	2.23%	-1.06%	-2.37%	-36.27%	92.79%	12.59%	-69.67%	95.68%
Invested Capital Q/Q Growth	0.28%	-0.31%	3.61%	0.55%	0.95%	3.74%	2.38%	1.43%	5.12%	1.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.46%	38.60%	38.11%	38.75%	38.85%	39.92%	40.35%	39.27%	40.24%	41.68%
EBITDA Margin	28.63%	27.79%	27.76%	28.42%	28.31%	28.29%	29.61%	28.35%	29.31%	31.21%
Operating Margin	17.10%	16.38%	16.62%	17.29%	17.35%	16.83%	18.38%	17.70%	18.58%	19.94%
EBIT Margin	17.11%	16.39%	16.64%	17.32%	17.41%	16.87%	18.38%	17.69%	18.62%	20.08%
Profit (Net Income) Margin	8.23%	6.53%	12.74%	10.33%	10.43%	9.55%	11.44%	11.01%	11.57%	12.75%
Tax Burden Percent	62.75%	63.48%	99.76%	78.55%	82.87%	84.85%	82.05%	81.22%	79.01%	84.05%
Interest Burden Percent	76.66%	62.78%	76.72%	75.95%	72.25%	66.70%	75.88%	76.65%	78.62%	75.55%
Effective Tax Rate	37.25%	36.52%	0.24%	21.45%	17.13%	15.15%	17.95%	18.78%	21.00%	15.95%
Return on Invested Capital (ROIC)	6.53%	6.39%	10.65%	8.48%	9.03%	8.54%	9.54%	9.79%	9.88%	11.41%
ROIC Less NNEP Spread (ROIC-NNEP)	3.39%	1.60%	5.71%	4.47%	4.17%	3.00%	5.03%	5.46%	6.04%	6.30%
Return on Net Nonoperating Assets (RNNOA)	3.19%	1.58%	5.69%	4.58%	4.35%	3.13%	5.26%	6.16%	7.23%	7.22%
Return on Equity (ROE)	9.72%	7.97%	16.34%	13.06%	13.38%	11.68%	14.80%	15.94%	17.11%	18.62%
Cash Return on Invested Capital (CROIC)	2.65%	6.39%	5.96%	7.50%	5.98%	4.81%	3.17%	-4.58%	1.42%	8.11%
Operating Return on Assets (OROA)	7.66%	7.46%	8.00%	8.13%	8.10%	7.43%	8.58%	8.85%	9.22%	10.09%
Return on Assets (ROA)	3.69%	2.97%	6.12%	4.85%	4.85%	4.20%	5.34%	5.51%	5.73%	6.41%
Return on Common Equity (ROCE)	9.72%	7.97%	16.34%	13.06%	13.38%	11.67%	14.79%	15.94%	17.11%	18.62%
Return on Equity Simple (ROE_SIMPLE)	9.76%	7.97%	16.07%	13.09%	13.23%	11.43%	14.39%	15.36%	16.42%	17.92%
Net Operating Profit after Tax (NOPAT)	978	976	1,664	1,364	1,481	1,450	1,703	1,943	2,196	2,686
NOPAT Margin	10.73%	10.40%	16.58%	13.58%	14.38%	14.28%	15.08%	14.38%	14.68%	16.75%
Net Nonoperating Expense Percent (NNEP)	3.14%	4.79%	4.94%	4.01%	4.86%	5.54%	4.51%	4.32%	3.84%	5.11%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.05%	9.40%	11.14%
Cost of Revenue to Revenue	60.54%	61.40%	61.89%	61.25%	61.15%	60.08%	59.65%	60.73%	59.76%	58.32%
SG&A Expenses to Revenue	10.79%	10.33%	10.53%	10.55%	10.60%	10.37%	10.59%	10.76%	10.75%	10.44%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.35%	22.22%	21.49%	21.46%	21.49%	23.09%	21.97%	21.57%	21.66%	21.74%
Earnings before Interest and Taxes (EBIT)	1,560	1,539	1,671	1,739	1,794	1,713	2,076	2,390	2,787	3,219
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,610	2,609	2,787	2,853	2,916	2,872	3,344	3,831	4,386	5,003
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.71	2.22	2.55	2.71	3.29	3.44	4.76	4.10	4.87	5.51
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.44	1.82	2.02	2.14	2.59	2.88	3.78	2.94	3.43	3.92
Price to Earnings (P/E)	17.50	27.86	15.88	20.69	24.89	30.21	33.13	26.72	29.64	30.75
Dividend Yield	3.86%	2.47%	2.19%	2.18%	1.86%	1.81%	1.31%	1.52%	1.26%	1.09%
Earnings Yield	5.71%	3.59%	6.30%	4.83%	4.02%	3.31%	3.02%	3.74%	3.37%	3.25%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.61	1.77	1.83	2.11	2.20	2.83	2.41	2.76	3.14
Enterprise Value to Revenue (EV/Rev)	2.26	2.62	2.81	2.95	3.42	3.74	4.62	3.79	4.26	4.69
Enterprise Value to EBITDA (EV/EBITDA)	7.90	9.42	10.14	10.38	12.06	13.22	15.59	13.38	14.55	15.04
Enterprise Value to EBIT (EV/EBIT)	13.22	15.97	16.91	17.03	19.61	22.17	25.12	21.45	22.90	23.38
Enterprise Value to NOPAT (EV/NOPAT)	21.09	25.17	16.98	21.72	23.75	26.19	30.61	26.38	29.06	28.02
Enterprise Value to Operating Cash Flow (EV/OCF)	12.28	13.30	14.79	13.21	14.96	15.36	18.71	16.07	17.64	19.12
Enterprise Value to Free Cash Flow (EV/FCFF)	51.93	25.17	30.33	24.58	35.86	46.49	92.19	0.00	202.83	39.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.00	1.00	1.03	1.05	1.07	1.05	1.06	1.22	1.22	1.11
Long-Term Debt to Equity	0.99	0.99	0.94	0.96	0.96	1.03	1.06	1.17	1.13	1.04
Financial Leverage	0.94	0.98	1.00	1.02	1.04	1.04	1.04	1.13	1.20	1.15
Leverage Ratio	2.64	2.68	2.67	2.69	2.76	2.78	2.77	2.89	2.99	2.91
Compound Leverage Factor	2.02	1.68	2.05	2.04	1.99	1.85	2.10	2.22	2.35	2.20
Debt to Total Capital	49.89%	49.89%	50.70%	51.25%	51.69%	51.28%	51.55%	54.89%	54.87%	52.71%
Short-Term Debt to Total Capital	0.04%	0.04%	4.38%	4.25%	5.53%	0.96%	0.04%	2.12%	3.99%	3.57%
Long-Term Debt to Total Capital	49.85%	49.85%	46.32%	47.01%	46.16%	50.31%	51.51%	52.76%	50.88%	49.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.02%	0.02%	0.01%	0.01%	0.02%	0.03%	0.00%	0.00%	0.00%	0.01%
Common Equity to Total Capital	50.10%	50.10%	49.29%	48.73%	48.30%	48.69%	48.45%	45.11%	45.12%	47.28%
Debt to EBITDA	2.93	2.94	2.94	2.92	2.98	3.11	2.86	3.08	2.92	2.54
Net Debt to EBITDA	2.87	2.88	2.86	2.86	2.90	3.05	2.81	3.01	2.85	2.48
Long-Term Debt to EBITDA	2.93	2.93	2.68	2.68	2.66	3.05	2.85	2.96	2.71	2.37
Debt to NOPAT	7.83	7.85	4.92	6.11	5.87	6.16	5.61	6.07	5.84	4.73
Net Debt to NOPAT	7.67	7.68	4.78	5.98	5.71	6.03	5.51	5.93	5.70	4.63
Long-Term Debt to NOPAT	7.82	7.84	4.49	5.61	5.24	6.04	5.60	5.83	5.41	4.41
Altman Z-Score	1.49	1.69	1.87	1.91	2.07	2.15	2.66	2.28	2.55	2.98
Noncontrolling Interest Sharing Ratio	0.03%	0.03%	0.03%	0.03%	0.03%	0.05%	0.03%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.71	0.71	0.55	0.58	0.52	0.67	0.71	0.70	0.56	0.58
Quick Ratio	0.59	0.59	0.45	0.43	0.38	0.50	0.54	0.54	0.45	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	397	976	932	1,205	981	817	566	-909	315	1,909
Operating Cash Flow to CapEx	181.71%	201.29%	194.24%	215.61%	198.42%	212.25%	214.89%	224.49%	225.84%	217.70%
Free Cash Flow to Firm to Interest Expense	1.09	1.72	2.57	3.14	2.50	1.79	1.80	-2.30	0.62	3.53
Operating Cash Flow to Interest Expense	4.60	3.26	5.27	5.84	6.00	5.40	8.86	8.08	7.12	7.28
Operating Cash Flow Less CapEx to Interest Expense	2.07	1.64	2.56	3.13	2.98	2.86	4.74	4.48	3.97	3.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.45	0.46	0.48	0.47	0.47	0.44	0.47	0.50	0.50	0.50
Accounts Receivable Turnover	9.47	9.44	9.56	9.09	9.24	9.16	9.56	9.16	8.69	8.93
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.24	1.24	1.31	1.27	0.00	0.00	0.00	1.35	1.35	1.38
Accounts Payable Turnover	10.21	10.41	10.79	9.05	8.18	7.84	7.98	7.70	6.79	6.78
Days Sales Outstanding (DSO)	38.55	38.68	38.18	40.14	39.49	39.85	38.18	39.83	42.01	40.86
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	35.75	35.07	33.83	40.35	44.61	46.58	45.75	47.42	53.75	53.81
Cash Conversion Cycle (CCC)	2.79	3.61	4.35	-0.20	-5.12	-6.72	-7.57	-7.59	-11.73	-12.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	15,266	15,266	15,999	16,157	16,657	17,290	18,428	21,280	23,162	23,939
Invested Capital Turnover	0.61	0.61	0.64	0.62	0.63	0.60	0.63	0.68	0.67	0.68
Increase / (Decrease) in Invested Capital	581	0.00	733	158	500	633	1,138	2,852	1,882	777
Enterprise Value (EV)	20,625	24,572	28,264	29,619	35,180	37,976	52,134	51,260	63,817	75,251
Market Capitalization	13,122	17,069	20,299	21,458	26,715	29,224	42,747	39,744	51,301	62,818
Book Value per Share	$22.15	$22.62	$23.81	$24.42	$25.44	$26.62	$28.32	$30.65	$33.51	$36.42
Tangible Book Value per Share	($10.52)	($10.75)	($10.47)	($11.03)	($11.43)	($11.72)	($12.95)	($16.18)	($18.40)	($16.36)
Total Capital	15,353	15,353	16,149	16,267	16,809	17,423	18,534	21,472	23,362	24,120
Total Debt	7,659	7,659	8,187	8,338	8,689	8,934	9,554	11,786	12,819	12,713
Total Long-Term Debt	7,653	7,653	7,481	7,647	7,759	8,766	9,546	11,330	11,887	11,851
Net Debt	7,501	7,501	7,963	8,159	8,462	8,747	9,386	11,515	12,515	12,431
Capital Expenditures (CapEx)	924	918	984	1,040	1,185	1,165	1,297	1,421	1,602	1,808
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-590	-590	-575	-534	-576	-630	-726	-721	-1,055	-934
Debt-free Net Working Capital (DFNWC)	-522	-522	-491	-464	-529	-592	-697	-578	-915	-860
Net Working Capital (NWC)	-528	-528	-1,198	-1,154	-1,459	-760	-705	-1,034	-1,847	-1,722
Net Nonoperating Expense (NNE)	228	363	385	326	407	481	411	455	465	642
Net Nonoperating Obligations (NNO)	7,572	7,572	8,038	8,227	8,536	8,802	9,449	11,594	12,619	12,532
Total Depreciation and Amortization (D&A)	1,050	1,070	1,116	1,114	1,122	1,159	1,268	1,441	1,599	1,784
Debt-free, Cash-free Net Working Capital to Revenue	-6.47%	-6.28%	-5.72%	-5.32%	-5.59%	-6.21%	-6.42%	-5.34%	-7.05%	-5.83%
Debt-free Net Working Capital to Revenue	-5.72%	-5.56%	-4.89%	-4.62%	-5.13%	-5.83%	-6.17%	-4.28%	-6.11%	-5.36%
Net Working Capital to Revenue	-5.79%	-5.62%	-11.93%	-11.50%	-14.16%	-7.49%	-6.24%	-7.65%	-12.34%	-10.74%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$3.79	$3.17	$3.34	$3.03	$4.05	$4.70	$5.47	$6.50
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	337.05M	326.90M	321.10M	319.28M	318.81M	316.53M	316.18M	314.40M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$3.77	$3.16	$3.33	$3.02	$4.04	$4.69	$5.47	$6.49
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	338.98M	328.38M	322M	319.84M	319.43M	317.08M	316.67M	314.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	331.21M	321.62M	319.06M	318.90M	316.43M	316.04M	314.61M	312.28M
Normalized Net Operating Profit after Tax (NOPAT)	981	1,005	1,649	1,349	1,481	1,562	1,717	1,958	2,223	2,710
Normalized NOPAT Margin	10.76%	10.71%	16.43%	13.43%	14.38%	15.39%	15.21%	14.49%	14.86%	16.90%
Pre Tax Income Margin	13.12%	10.29%	12.77%	13.16%	12.58%	11.25%	13.95%	13.56%	14.64%	15.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.28	2.71	4.61	4.53	4.58	3.74	6.60	6.05	5.49	5.95
NOPAT to Interest Expense	2.68	1.72	4.59	3.55	3.78	3.17	5.41	4.92	4.32	4.97
EBIT Less CapEx to Interest Expense	1.74	1.09	1.90	1.82	1.55	1.20	2.48	2.45	2.33	2.61
NOPAT Less CapEx to Interest Expense	0.15	0.10	1.88	0.84	0.75	0.62	1.29	1.32	1.17	1.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	53.28%	68.43%	34.50%	44.56%	45.74%	53.91%	45.33%	39.92%	36.86%	33.61%
Augmented Payout Ratio	107.21%	134.28%	82.24%	115.58%	82.94%	64.10%	65.77%	54.44%	52.05%	57.88%

This table displays calculated financial ratios and metrics derived from Republic Services' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.63%	19.53%	20.57%	9.15%	6.34%	8.57%	7.84%	8.64%	6.54%	5.58%
EBITDA Growth	17.54%	16.32%	15.52%	15.29%	9.17%	18.53%	13.78%	15.14%	14.86%	12.51%
EBIT Growth	17.88%	16.26%	15.67%	20.79%	9.80%	21.08%	15.28%	15.27%	17.43%	13.94%
NOPAT Growth	29.70%	-5.42%	13.36%	13.67%	5.71%	18.93%	17.21%	22.21%	28.43%	21.16%
Net Income Growth	18.84%	10.96%	9.09%	15.01%	15.21%	26.42%	18.18%	19.71%	17.82%	16.69%
EPS Growth	20.00%	11.22%	9.01%	15.38%	15.15%	27.52%	19.01%	20.00%	18.42%	17.27%
Operating Cash Flow Growth	24.70%	24.83%	-2.54%	25.76%	16.69%	10.95%	18.00%	1.94%	5.25%	13.72%
Free Cash Flow Firm Growth	-166.70%	-305.80%	-239.63%	78.82%	80.42%	46.29%	50.20%	-12.89%	-76.90%	99.69%
Invested Capital Growth	16.56%	15.48%	16.98%	5.38%	5.02%	8.84%	8.70%	5.98%	7.19%	3.35%
Revenue Q/Q Growth	5.40%	-1.90%	1.45%	4.04%	2.68%	0.16%	0.79%	4.82%	0.70%	-0.74%
EBITDA Q/Q Growth	10.14%	-8.30%	7.91%	5.83%	4.29%	-0.44%	3.45%	7.10%	4.03%	-2.48%
EBIT Q/Q Growth	13.50%	-12.35%	11.21%	9.28%	3.18%	-3.35%	5.67%	9.27%	5.12%	-6.23%
NOPAT Q/Q Growth	18.95%	-1.62%	-11.71%	10.05%	10.62%	10.68%	-13.02%	14.74%	16.24%	4.42%
Net Income Q/Q Growth	12.13%	-16.67%	10.63%	11.38%	12.32%	-8.56%	3.21%	12.83%	10.55%	-9.44%
EPS Q/Q Growth	12.82%	-17.42%	11.01%	11.57%	12.59%	-8.55%	3.60%	12.50%	11.11%	-9.44%
Operating Cash Flow Q/Q Growth	-4.76%	-0.83%	-15.10%	56.83%	-11.63%	-5.71%	-9.68%	35.48%	-8.76%	1.88%
Free Cash Flow Firm Q/Q Growth	14.87%	4.93%	-15.18%	77.28%	21.30%	-160.79%	-6.70%	48.50%	-23.32%	99.55%
Invested Capital Q/Q Growth	0.14%	1.43%	1.69%	2.03%	-0.20%	5.12%	1.56%	-0.52%	0.93%	1.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.01%	38.19%	39.42%	40.30%	40.29%	40.90%	40.88%	41.14%	41.93%	42.73%
EBITDA Margin	28.93%	27.04%	28.75%	29.24%	29.70%	29.52%	30.33%	30.99%	32.01%	31.45%
Operating Margin	18.46%	16.36%	17.99%	18.98%	19.02%	18.29%	18.98%	20.10%	20.75%	19.86%
EBIT Margin	18.46%	16.49%	18.06%	18.96%	19.06%	18.39%	19.30%	20.12%	21.00%	19.84%
Profit (Net Income) Margin	11.59%	9.84%	10.72%	11.48%	12.55%	11.46%	11.75%	12.65%	13.88%	12.67%
Tax Burden Percent	82.10%	92.91%	73.53%	73.70%	79.22%	91.04%	75.76%	78.27%	87.53%	96.23%
Interest Burden Percent	76.48%	64.24%	80.75%	82.11%	83.16%	68.45%	80.35%	80.29%	75.51%	66.33%
Effective Tax Rate	17.90%	7.09%	26.47%	26.30%	20.78%	8.96%	24.24%	21.73%	12.47%	3.77%
Return on Invested Capital (ROIC)	10.06%	10.35%	9.31%	9.38%	10.27%	11.21%	9.70%	10.77%	12.59%	13.01%
ROIC Less NNEP Spread (ROIC-NNEP)	8.81%	8.55%	8.46%	8.59%	9.44%	9.57%	8.87%	9.74%	11.14%	10.94%
Return on Net Nonoperating Assets (RNNOA)	9.89%	9.64%	9.51%	10.45%	11.05%	11.46%	10.45%	11.15%	12.44%	12.53%
Return on Equity (ROE)	19.95%	19.98%	18.81%	19.83%	21.32%	22.67%	20.16%	21.92%	25.03%	25.54%
Cash Return on Invested Capital (CROIC)	-5.34%	-4.58%	-5.69%	4.33%	4.82%	1.42%	1.75%	4.72%	4.27%	8.11%
Operating Return on Assets (OROA)	9.04%	8.25%	9.45%	9.43%	9.56%	9.10%	9.73%	10.14%	10.74%	9.97%
Return on Assets (ROA)	5.67%	4.92%	5.61%	5.71%	6.30%	5.67%	5.92%	6.38%	7.10%	6.36%
Return on Common Equity (ROCE)	19.94%	19.98%	18.81%	19.83%	21.32%	22.67%	20.16%	21.92%	25.03%	25.54%
Return on Equity Simple (ROE_SIMPLE)	15.32%	0.00%	15.32%	15.44%	15.86%	0.00%	16.65%	17.13%	17.55%	0.00%
Net Operating Profit after Tax (NOPAT)	545	537	474	521	577	638	555	637	740	773
NOPAT Margin	15.16%	15.20%	13.23%	13.99%	15.07%	16.65%	14.38%	15.74%	18.17%	19.11%
Net Nonoperating Expense Percent (NNEP)	1.25%	1.80%	0.84%	0.79%	0.83%	1.64%	0.83%	1.03%	1.45%	2.07%
Return On Investment Capital (ROIC_SIMPLE)	-	2.50%	-	-	-	2.73%	-	-	-	3.21%
Cost of Revenue to Revenue	60.99%	61.81%	60.58%	59.70%	59.71%	59.10%	59.12%	58.86%	58.07%	57.27%
SG&A Expenses to Revenue	10.03%	11.19%	10.59%	10.63%	10.51%	11.27%	10.72%	10.07%	9.96%	11.03%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.55%	21.83%	21.43%	21.32%	21.27%	22.61%	21.90%	21.04%	21.18%	22.87%
Earnings before Interest and Taxes (EBIT)	664	582	647	707	729	705	745	815	856	803
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,041	954	1,029	1,089	1,136	1,131	1,171	1,254	1,305	1,273
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.42	4.10	4.24	4.69	4.31	4.87	5.54	5.55	5.60	5.51
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.25	2.94	2.98	3.31	3.04	3.43	3.93	3.92	3.98	3.92
Price to Earnings (P/E)	28.88	26.72	27.68	30.38	27.20	29.64	33.26	32.38	31.92	30.75
Dividend Yield	1.41%	1.52%	1.46%	1.31%	1.43%	1.26%	1.08%	1.08%	1.07%	1.09%
Earnings Yield	3.46%	3.74%	3.61%	3.29%	3.68%	3.37%	3.01%	3.09%	3.13%	3.25%
Enterprise Value to Invested Capital (EV/IC)	2.55	2.41	2.48	2.70	2.55	2.76	3.08	3.13	3.18	3.14
Enterprise Value to Revenue (EV/Rev)	4.13	3.79	3.80	4.13	3.83	4.26	4.76	4.71	4.75	4.69
Enterprise Value to EBITDA (EV/EBITDA)	14.45	13.38	13.54	14.50	13.35	14.55	16.01	15.62	15.46	15.04
Enterprise Value to EBIT (EV/EBIT)	23.14	21.45	21.69	22.94	21.09	22.90	25.11	24.49	24.08	23.38
Enterprise Value to NOPAT (EV/NOPAT)	27.53	26.38	26.87	28.95	26.86	29.06	31.82	30.61	29.37	28.02
Enterprise Value to Operating Cash Flow (EV/OCF)	17.64	16.07	16.94	17.57	15.92	17.64	19.37	19.49	19.72	19.12
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	63.96	54.14	202.83	183.65	68.25	77.05	39.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.23	1.22	1.20	1.19	1.15	1.22	1.19	1.18	1.12	1.11
Long-Term Debt to Equity	1.18	1.17	1.16	1.17	1.06	1.13	1.05	1.05	1.07	1.04
Financial Leverage	1.12	1.13	1.12	1.22	1.17	1.20	1.18	1.14	1.12	1.15
Leverage Ratio	2.88	2.89	2.85	2.99	2.95	2.99	2.92	2.91	2.87	2.91
Compound Leverage Factor	2.20	1.86	2.31	2.45	2.45	2.05	2.34	2.34	2.17	1.93
Debt to Total Capital	55.08%	54.89%	54.60%	54.28%	53.58%	54.87%	54.25%	54.08%	52.80%	52.71%
Short-Term Debt to Total Capital	2.16%	2.12%	2.09%	0.68%	4.19%	3.99%	6.05%	5.98%	2.16%	3.57%
Long-Term Debt to Total Capital	52.92%	52.76%	52.50%	53.59%	49.39%	50.88%	48.20%	48.10%	50.64%	49.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%
Common Equity to Total Capital	44.92%	45.11%	45.40%	45.72%	46.42%	45.12%	45.74%	45.92%	47.20%	47.28%
Debt to EBITDA	3.15	3.08	3.00	2.94	2.83	2.92	2.83	2.76	2.58	2.54
Net Debt to EBITDA	3.09	3.01	2.94	2.86	2.76	2.85	2.78	2.62	2.52	2.48
Long-Term Debt to EBITDA	3.02	2.96	2.89	2.91	2.61	2.71	2.52	2.46	2.48	2.37
Debt to NOPAT	6.00	6.07	5.96	5.88	5.70	5.84	5.63	5.41	4.91	4.73
Net Debt to NOPAT	5.89	5.93	5.83	5.72	5.55	5.70	5.53	5.13	4.80	4.63
Long-Term Debt to NOPAT	5.76	5.83	5.74	5.81	5.26	5.41	5.00	4.81	4.71	4.41
Altman Z-Score	2.18	2.07	2.21	2.36	2.24	2.33	2.62	2.65	2.79	2.73
Noncontrolling Interest Sharing Ratio	0.03%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.70	0.70	0.74	0.76	0.58	0.56	0.53	0.59	0.64	0.58
Quick Ratio	0.56	0.54	0.60	0.64	0.49	0.45	0.43	0.51	0.53	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,436	-2,316	-2,667	-606	-477	-1,244	-1,328	-684	-844	-3.82
Operating Cash Flow to CapEx	298.65%	155.71%	184.57%	332.26%	264.02%	165.26%	158.47%	274.51%	229.96%	222.56%
Free Cash Flow to Firm to Interest Expense	-23.15	-20.62	-21.02	-4.87	-3.74	-9.63	-9.54	-5.33	-6.00	-0.03
Operating Cash Flow to Interest Expense	7.76	7.21	5.42	8.67	7.47	6.96	5.83	8.57	7.13	7.70
Operating Cash Flow Less CapEx to Interest Expense	5.16	2.58	2.48	6.06	4.64	2.75	2.15	5.45	4.03	4.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.50	0.52	0.50	0.50	0.50	0.50	0.50	0.51	0.50
Accounts Receivable Turnover	8.73	9.16	9.44	8.50	8.31	8.69	8.84	8.75	8.60	8.93
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	1.35	1.42	0.00	0.00	1.35	1.39	1.41	1.42	1.38
Accounts Payable Turnover	8.52	7.70	9.41	8.18	7.97	6.79	8.37	7.73	7.67	6.78
Days Sales Outstanding (DSO)	41.82	39.83	38.67	42.92	43.92	42.01	41.29	41.71	42.43	40.86
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	42.85	47.42	38.80	44.60	45.78	53.75	43.60	47.22	47.58	53.81
Cash Conversion Cycle (CCC)	-1.04	-7.59	-0.13	-1.68	-1.86	-11.73	-2.31	-5.51	-5.15	-12.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	20,981	21,280	21,641	22,080	22,035	23,162	23,524	23,401	23,619	23,939
Invested Capital Turnover	0.66	0.68	0.70	0.67	0.68	0.67	0.68	0.68	0.69	0.68
Increase / (Decrease) in Invested Capital	2,981	2,852	3,141	1,127	1,053	1,882	1,883	1,321	1,584	777
Enterprise Value (EV)	53,424	51,260	53,725	59,625	56,170	63,817	72,492	73,327	75,171	75,251
Market Capitalization	41,991	39,744	42,065	47,842	44,554	51,301	59,894	61,034	62,896	62,818
Book Value per Share	$30.04	$30.65	$31.38	$32.26	$32.66	$33.51	$34.39	$34.94	$35.75	$36.42
Tangible Book Value per Share	($16.15)	($16.18)	($16.01)	($17.65)	($17.09)	($18.40)	($17.53)	($16.90)	($16.27)	($16.36)
Total Capital	21,127	21,472	21,842	22,318	22,258	23,362	23,653	23,966	23,791	24,120
Total Debt	11,636	11,786	11,925	12,113	11,925	12,819	12,832	12,960	12,560	12,713
Total Long-Term Debt	11,180	11,330	11,468	11,960	10,993	11,887	11,400	11,527	12,047	11,851
Net Debt	11,433	11,515	11,660	11,782	11,614	12,515	12,597	12,291	12,274	12,431
Capital Expenditures (CapEx)	274	520	373	325	361	544	512	401	436	459
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-590	-721	-463	-755	-946	-1,055	-712	-932	-864	-934
Debt-free Net Working Capital (DFNWC)	-509	-578	-331	-573	-788	-915	-620	-441	-780	-860
Net Working Capital (NWC)	-964	-1,034	-788	-726	-1,720	-1,847	-2,052	-1,874	-1,293	-1,722
Net Nonoperating Expense (NNE)	128	189	90	94	96	199	101	125	175	261
Net Nonoperating Obligations (NNO)	11,491	11,594	11,723	11,875	11,702	12,619	12,703	12,394	12,388	12,532
Total Depreciation and Amortization (D&A)	377	372	383	383	407	426	426	440	449	470
Debt-free, Cash-free Net Working Capital to Revenue	-4.56%	-5.34%	-3.28%	-5.23%	-6.45%	-7.05%	-4.67%	-5.98%	-5.46%	-5.83%
Debt-free Net Working Capital to Revenue	-3.93%	-4.28%	-2.34%	-3.97%	-5.37%	-6.11%	-4.07%	-2.83%	-4.93%	-5.36%
Net Working Capital to Revenue	-7.46%	-7.65%	-5.58%	-5.03%	-11.73%	-12.34%	-13.46%	-12.04%	-8.18%	-10.74%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.32	$1.09	$1.21	$1.35	$1.52	$1.39	$1.44	$1.62	$1.80	$1.64
Adjusted Weighted Average Basic Shares Outstanding	316.51M	316.53M	316.71M	316.85M	316.06M	316.18M	315.29M	314.91M	314.00M	314.40M
Adjusted Diluted Earnings per Share	$1.32	$1.09	$1.21	$1.35	$1.52	$1.39	$1.44	$1.62	$1.80	$1.63
Adjusted Weighted Average Diluted Shares Outstanding	317.05M	317.08M	317.14M	317.31M	316.56M	316.67M	315.69M	315.24M	314.37M	314.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	316.00M	316.04M	316.28M	316.33M	314.64M	314.61M	314.93M	314.07M	313.15M	312.28M
Normalized Net Operating Profit after Tax (NOPAT)	547	544	478	533	580	643	560	640	748	782
Normalized NOPAT Margin	15.20%	15.42%	13.34%	14.30%	15.17%	16.79%	14.49%	15.82%	18.35%	19.33%
Pre Tax Income Margin	14.11%	10.59%	14.58%	15.57%	15.85%	12.59%	15.51%	16.16%	15.86%	13.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.31	5.18	5.10	5.68	5.71	5.46	5.35	6.35	6.09	6.05
NOPAT to Interest Expense	5.18	4.78	3.73	4.19	4.52	4.94	3.99	4.96	5.27	5.82
EBIT Less CapEx to Interest Expense	3.71	0.55	2.16	3.07	2.88	1.25	1.67	3.23	2.99	2.59
NOPAT Less CapEx to Interest Expense	2.58	0.15	0.80	1.58	1.69	0.73	0.31	1.84	2.16	2.36
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	42.33%	39.92%	39.76%	39.07%	38.19%	36.86%	36.10%	35.12%	34.18%	33.61%
Augmented Payout Ratio	62.59%	54.44%	40.62%	39.39%	50.12%	52.05%	51.50%	58.70%	54.82%	57.88%

Frequently Asked Questions About Republic Services' Financials

When does Republic Services's fiscal year end?

According to the most recent income statement we have on file, Republic Services' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Republic Services' net income changed over the last 9 years?

Republic Services' net income appears to be on an upward trend, with a most recent value of $2.04 billion in 2024, rising from $750.40 million in 2015. The previous period was $1.73 billion in 2023.

What is Republic Services's operating income?

Republic Services's total operating income in 2024 was $3.20 billion, based on the following breakdown:

Total Gross Profit: $6.68 billion
Total Operating Expenses: $3.49 billion

How has Republic Services revenue changed over the last 9 years?

Over the last 9 years, Republic Services' total revenue changed from $9.12 billion in 2015 to $16.03 billion in 2024, a change of 75.9%.

How much debt does Republic Services have?

Republic Services' total liabilities were at $21.00 billion at the end of 2024, a 0.6% increase from 2023, and a 64.5% increase since 2015.

How much cash does Republic Services have?

In the past 9 years, Republic Services' cash and equivalents has ranged from $29 million in 2021 to $143.40 million in 2022, and is currently $74 million as of their latest financial filing in 2024.

How has Republic Services' book value per share changed over the last 9 years?

Over the last 9 years, Republic Services' book value per share changed from 22.15 in 2015 to 36.42 in 2024, a change of 64.4%.

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This page (NYSE:RSG) was last updated on 4/14/2025 by MarketBeat.com Staff

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Republic Services (RSG) Financials

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Republic Services (RSG) Financials

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