Republic Services, Inc.

RSG

$213.88

Updated: 23/09/2026, 14:43:59

Market Cap

$65.80B

Sector

Industrials

Industry

Waste Management

Country

Stock valuation chart

One-year closing share-price history for RSG

Company Profile

Republic Services, Inc., along with its subsidiaries, delivers comprehensive environmental services across the United States. The company specializes in the collection and processing of recyclable materials, alongside the gathering, transfer, and responsible disposal of non-hazardous solid waste, in addition to other environmental solutions. Its collection activities encompass curbside pickups, facilitating transport to transfer stations, landfills, or recycling facilities; the provision of waste and recycling containers; and compactor rentals. Beyond collection, Republic Services engages in the processing and sale of commodities such as old corrugated containers, newsprint, aluminum, and glass. The company also operates landfill and transfer services, manages the disposal of non-hazardous solid and liquid industrial waste, and provides on-site logistics and transportation. Serving a broad customer base, including residential, small-container, and large-container clients, Republic Services maintains a vast operational footprint. As of December 31, 2021, this included 356 collection operations, 239 transfer stations, 198 active landfills, 71 recycling processing centers, 6 saltwater disposal wells, 7 deep injection wells, and 3 treatment, recovery, and disposal facilities across 41 states. Furthermore, it oversees 77 landfill gas-to-energy and renewable energy projects and manages 124 closed landfills. The company, founded in 1996, is headquartered in Phoenix, Arizona.

USD

NYSE

CEO: Jon Vander Ark

Employees: 42,000

https://www.republicservices.com

Asset Summaries

Latest generated summaries for RSG

No summaries found.

Detailed business

Evidence-backed facts extracted from the latest official annual filing.

10-K

FY 2025

View filing U.S. Securities and Exchange Commission (EDGAR)

RSG-10-k-fy2025.html3.2 MBtext/htmlENFiled 18/02/2026Period ended 31/12/2025

Business monitoring

Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.

Evidence-backed · 51 KPI observations

Revenue

$16.6B

FY 2025 · Reported

Net income

$2.1B

FY 2025 · Reported

Gross margin

42.0%

FY 2025 · Calculated

Free cash flow

$2.4B

FY 2025 · Calculated

R&D intensity

N/A

FY — · Reported

Share repurchases

$0.9B

FY 2025 · Reported

Earnings and cash generation

USD billions, directly sourced from inline XBRL; free cash flow is operating cash flow less capex.

Profitability and reinvestment

Margins and R&D as a percentage of revenue.

How the business makes money

Company overview

One of the largest providers of environmental services in North America, operating across the US and Canada through 377 collection operations, 255 transfer stations, 79 recycling centers, 207 active landfills, 2 treatment, recovery and disposal facilities, 24 TSDFs, 5 salt water disposal wells, 15 deep injection wells, 9 industrial wastewater treatment facilities, and 2 polymer centers; 84 landfill gas-to-energy and other renewable energy projects; post-closure responsibility for 124 closed landfills

99%

Source evidence

“Republic Services is one of the largest providers of environmental services in North America, as measured by revenue. We operate across the United States and Canada through 377 collection operations, 255 transfer stations, 79 recycling centers, 207 active landfills”

Geographic footprint

Operates throughout the United States and Canada; waste collection and disposal is largely a local business; combines local operating management with standardized business practices

95%

Source evidence

“We operate throughout the United States and Canada, but the physical collection and recycling or disposal of material is largely a local business, and the dynamics and opportunities differ in each market we serve.”

Customer types and contract structures

Municipal residential contracts (1-5 years) and subscriptions; small-container (restaurants, retail, real-estate, professional services); large-container recurring (hotels, office buildings, manufacturing) and temporary C&D; municipal and government customers

95%

Source evidence

“These contracts usually range in duration from one to five years, although some of our exclusive franchises are for significantly longer periods.”

Polymer Centers and Blue Polymers plastics circularity

Two Polymer Centers operating (Las Vegas 2024, Indianapolis 2025), third under construction in Allentown, PA; Blue Polymers JV with Ravago JV Holdings, LLC; first Blue Polymers facility in Indianapolis commenced 2025, second under construction in Buckeye, AZ

97%

Source evidence

“In 2023, we announced the development of Blue Polymers, a joint-venture with Ravago JV Holdings, LLC, creating vertical integration that will further advance circularity by acquiring all olefins produced by the Polymer Centers”

Recycling processing and commodity volumes

79 recycling centers; processed and sold 2.2 million tons in 2025 (83% fiber based: OCC, ONP, mixed paper); processed 1.1M tons and sold 0.4M tons of organics; $10/ton recycled commodity price change = ~$13M revenue/operating income impact

97%

Source evidence

“During 2025, we processed and sold 2.2 million tons, excluding glass and organics, from our recycling centers. An additional 1.8 million tons were collected by us and delivered to third parties.”

Environmental solutions offerings

Environmental solutions (~11% of 2025 revenue) include hazardous/non-hazardous waste treatment and disposal, field and industrial services, equipment rental, emergency response, and in-plant services driven by industrial, petrochemical, refining and E&P site activity

95%

Source evidence

“Environmental solutions volume is generated by the daily operations of industrial, petrochemical and refining facilities and oil and natural gas exploration and production sites, including maintenance, plant turnarounds and capital projects.”

Waste treatment and disposal infrastructure

6 active hazardous waste landfills, 9 active energy waste landfills, 2 treatment/recovery/disposal facilities, 24 TSDFs, 5 salt water disposal wells, 15 deep injection wells, 9 industrial wastewater treatment facilities; waste received in solid, liquid and sludge form, transported by truck and rail

95%

Source evidence

“We own or operate 6 active hazardous waste landfills, 9 active energy waste landfills, 2 treatment, recovery and disposal facilities, 24 treatment, storage and disposal facilities, 5 salt water disposal wells, 15 deep injection wells, and 9 industrial wastewater treatment facilities.”

Revenue mix by service line (2025)

In 2025: collection ~68% of total revenue (residential 18%, small-container 30%, large-container 19%, other 1%); transfer station tipping/disposal fees ~5%; recycling processing and sale ~3%; landfill tipping fees to third parties ~12%; environmental solutions ~11%

98%

Source evidence

“In 2025, approximately 68% of our total revenue was derived from our collection business, of which approximately 18% of our total revenue related to residential services, approximately 30% related to small-container services, approximately 19% related to large-container services and approximately 1% related to other collection services.”

Operations and dependencies

Labor and workforce

~22% of workforce covered by collective bargaining agreements (8% expiring in 2026); 2025 labor disruptions cost $56M ($16M customer credits, $40M cost of operations); risk of union organizing, work stoppages, labor shortages

95%

Source evidence

“Labor disruption. During 2025, we experienced labor disruptions in certain isolated markets. The impact of these labor disruptions was $56 million, including $16 million of customer credits and $40 million of cost of operations.”

Multiemployer pension plans

Participates in multiemployer pension plans, some critical or endangered; Western Conference of Teamsters Pension Plan contributions $83M in 2025 ($112M total to all plans); withdrawal events would require payment of share of unfunded vested liabilities

93%

Source evidence

“Republic’s participation in individually significant multiemployer pension plans for the year ended December 31, 2025 is outlined in the table below.”

Positioning and strategy

Competitive landscape

Competes principally with large national waste management companies, municipalities, and regional/local companies; competition based on service quality, ease of doing business and price (collection) and location, operations quality and price (disposal)

95%

Source evidence

“We principally compete with large national waste management companies, numerous municipalities and numerous regional and local companies.”

Internal growth drivers

Internal growth driven by volume growth (population/household/business formation), price increases, recycling capability expansion, and infrastructure development; EPA: ~32% of MSW recycled/composted, expected to rise

95%

Source evidence

“Volume Growth - Volume growth through increases in our customer base and service offerings is the most capital efficient method to grow our business. We believe volumes are driven by population growth, household formation and new business formation.”

Total addressable market

Total addressable US and Canada environmental services market generates approximately $163 billion of annual revenue ($110B recycling and waste, $37B environmental solutions, $16B sustainability innovation and emerging waste and recycling technologies)

98%

Source evidence

“We believe the total addressable United States and Canada environmental services market in which we operate generates approximately $163 billion of annual revenue, which includes the $110 billion recycling and waste industry, $37 billion of the broader environmental solutions industry, and $16 billion in sustainability innovation”

Acquisition growth strategy and public-private partnerships

Acquisition strategy focuses primarily on privately held environmental services businesses; financial flexibility from free cash flow, credit facilities and capital markets access supports additional acquisitions including larger deals; also growth via public-private partnerships

95%

Source evidence

“Our acquisition growth strategy focuses primarily on acquiring privately held environmental services businesses that complement our existing business platform.”

Recycling technology investment

Investing in robotics and advanced sorting equipment (disk screens, magnets, optical sorters) to identify and separate paper, metals and plastics, increase recycling efficiency and control costs

93%

Source evidence

“For example, robotics and advanced sorting equipment, such as disk screens, magnets and optical sorters, identify and separate different kinds of paper, metals, plastics and other materials to increase efficiency”

Risks, financing, and outlook

Fuel and petrochemical cost exposure

Depends on fuel purchased in the open market; fuel price fluctuations driven by OPEC actions, geopolitics, supply/demand and other events may increase operating expenses and may not be recoverable from customers

94%

Source evidence

“We depend on fuel purchased in the open market to operate our collection and transfer trucks and other equipment used for collection, transfer, disposal and other environmental services.”

Indebtedness and credit ratings

Approximately $14 billion principal value of debt and finance leases outstanding as of December 31, 2025; substantial indebtedness may limit financial flexibility; execution of financial strategy depends on maintaining investment grade ratings

97%

Source evidence

“As of December 31, 2025, we had approximately $14 billion in principal value of debt and finance leases outstanding.”

2026 financial guidance

2026 guidance: revenue $17.050B-$17.150B; average yield 3.2%-3.7%; related revenue 4.0%-4.5%; volume ~(1.0)%; adjusted diluted EPS $7.20-$7.28 (vs. $7.02 in 2025); ~$25M restructuring charges expected

98%

Source evidence

“We expect revenue to be in the range of $17.050 billion to $17.150 billion. We expect growth from average yield on total revenue to be in a range of 3.2% to 3.7% and related revenue to be in a range of 4.0% to 4.5%.”

2026 strategic focus

2026 focus: pricing in excess of cost inflation, profitable volume growth, sustainability investment, value-creating acquisitions, and advancing technology for productivity and customer retention

97%

Source evidence

“In 2026, we will focus on pricing in excess of cost inflation, driving profitable volume growth, investing in sustainability to improve the environment and drive growth, investing in value-creating acquisitions and advancing technology to improve productivity and increase customer retention.”

2025 revenue performance and drivers

FY2025 revenue increased 3.5% to $16.6 billion from $16.0 billion in 2024: average yield +4.1%, acquisitions net of divestitures +1.3%, offset by environmental solutions (1.0)%, volume (0.6)%, fuel recovery fees (0.1)%, workdays (0.1)%

97%

Source evidence

“Revenue for the year ended December 31, 2025 increased by 3.5% to $16.6 billion compared to $16.0 billion in 2024.”

2025 earnings summary

FY2025: operating income $3,302M (19.9% margin); net income $2.1B or $6.85 diluted EPS ($7.02 adjusted) vs. $2.0B / $6.49 ($6.46 adjusted) in 2024

96%

Source evidence

“Our net income attributable to Republic Services, Inc. was $2.1 billion, or $6.85 per diluted share, for 2025, compared to $2.0 billion, or $6.49 per diluted share, for 2024.”

PFAS and chemicals of emerging concern

Regulatory changes relating to PFAS and other chemicals of emerging concern, and disposal/transport limits or bans, could limit business growth, increase operating costs or require additional capital expenditures

93%

Source evidence

“compliance with existing and future legal and regulatory requirements, including changes relating to per- and polyfluoroalkyl substances (commonly referred to as PFAS) and other chemicals of emerging concern and limitations or bans on disposal of certain types of wastes”

Technology and AI dependence

Increasing dependence on technology including AI and machine learning tools (deployed or embedded in third-party systems); technology failure or significant cybersecurity incident could adversely affect operations and relationships with employees, customers and vendors

93%

Source evidence

“Our operations are increasingly dependent on technology, including AI and machine learning tools that we deploy or that are embedded in systems provided by third parties.”

Competition risk

Environmental services industry is highly competitive; competitors may have greater resources or lower price flexibility; losing market share or lowering prices could negatively impact financial condition, results and cash flows

93%

Source evidence

“The environmental services industry is highly competitive and includes competitors that may have greater financial and operational resources, flexibility to reduce prices or other competitive advantages that could make it difficult for us to compete effectively.”

Severe weather and climate risk

Severe weather, including from climate change, could impair financial results through increased costs, lost revenue, reduced operational efficiency or operational disruptions

92%

Source evidence

“severe weather conditions, including those brought about by climate change, which could impair our financial results by causing increased costs, loss of revenue, reduced operational efficiency or disruptions to our operations”

Acquisition strategy risks

Growth strategy depends on identifying and integrating acquisitions; undisclosed liabilities of acquired businesses may become the company's responsibility; mitigated by due diligence, indemnification, deferred purchase price, R&W insurance and asset-only deals

92%

Source evidence

“Our due diligence investigations of acquisition candidates may fail to discover certain undisclosed liabilities.”

Renewable Fuel Standard / RIN exposure

Landfill gas-to-energy projects benefit from federal Renewable Fuel Standard (RFS) RINs; changes to the RFS program or RIN prices may impact financial performance of these projects and future investment plans

92%

Source evidence

“The production of renewable fuel through certain of these projects is incentivized by the federal Renewable Fuel Standard (RFS) program. Oil refiners and importers are required through the RFS program to blend specified volumes of renewable transportation fuels with gasoline or buy RINs from renewable fuel producers.”

Recycling trends risk

Mandatory recycling, source waste reduction and disposal bans could reduce landfill volumes; fluctuations in recycled commodity prices and demand create revenue volatility

90%

Source evidence

“the negative effect on our revenues that trends toward requiring recycling, waste reduction at the source and prohibiting the disposal of certain types of wastes could have on volumes of waste going to landfills”

Customer credit risk from economic weakness

US economic weakness could reduce tax revenue for governmental customers and cause municipalities, large national accounts, industrial and other clients to be unable or unwilling to pay amounts owed

90%

Source evidence

“Weakness in the United States economy can reduce the amount of taxes collected by various governmental entities. We provide services to a number of these entities, including numerous municipalities.”

Material exposure graph

Municipal and governmental customers

Customer Exposure

Residential collection is performed typically under municipal contracts secured by competitive bids; government entities may suffer financial difficulties from decreased tax revenue and be unable or unwilling to pay amounts owed.

Relevance 75·Dependency 60·Confidence 92

Source evidence

“We provide services to a number of these entities, including numerous municipalities. These governmental entities may suffer financial difficulties resulting from a decrease in tax revenue and may ultimately be unable or unwilling to pay amounts owed to us.”

Fuel (diesel/petroleum for collection fleet)

Cost Driver

Company depends on open-market fuel for collection, transfer, disposal and environmental services equipment; unpredictable fuel prices driven by OPEC, geopolitics, war, weather increase operating expenses that may not be recoverable from customers.

Relevance 70·Dependency 55·Confidence 94

Source evidence

“We depend on fuel purchased in the open market to operate our collection and transfer trucks and other equipment used for collection, transfer, disposal and other environmental services.”

Economic and population growth

Demand Driver

Volumes are driven by population growth, household formation and new business formation; long-term contracts grow contracted revenue consistent with underlying economic growth.

Relevance 70·Dependency 45·Confidence 90

Source evidence

“We believe volumes are driven by population growth, household formation and new business formation.”

Inflation and cost inflation

Cost Driver

General economic conditions including inflation and changes in fuel costs, interest rates, tariffs and labor/health insurance costs are cited risk factors; 2026 strategy explicitly targets pricing in excess of cost inflation.

Relevance 65·Dependency 55·Confidence 92

Source evidence

“In 2026, we will focus on pricing in excess of cost inflation, driving profitable volume growth, investing in sustainability to improve the environment and drive growth”

Circularity and decarbonization demand

Demand Driver

Customer demand for products and services responding to evolving environmental trends including circularity and decarbonization should support above average growth rates and attractive returns; drives Polymer Center and renewable energy investment.

Relevance 65·Dependency 40·Confidence 90

Source evidence

“In our sustainability innovation businesses, we believe customer demand for products and services that respond to evolving environmental trends, including circularity and decarbonization, should support above average growth rates and attractive returns.”

Labor availability and union activity

Cost Driver

22% of workforce covered by CBAs (8% expiring 2026); 2025 labor disruptions cost $56 million; risk of union organizing campaigns, work stoppages or labor shortages.

Relevance 60·Dependency 50·Confidence 94

Source evidence

“During 2025, we experienced labor disruptions in certain isolated markets. The impact of these labor disruptions was $56 million, including $16 million of customer credits and $40 million of cost of operations.”

PFAS and chemicals of emerging concern regulation

Regulatory Exposure

Changes relating to PFAS and disposal/transport limitations or bans could limit ability to conduct or grow the business, increase costs, or require additional capital expenditures.

Relevance 60·Dependency 40·Confidence 92

Source evidence

“compliance with existing and future legal and regulatory requirements, including changes relating to per- and polyfluoroalkyl substances (commonly referred to as PFAS) and other chemicals of emerging concern”

Artificial intelligence and machine learning

Technology Dependency

Operations are increasingly dependent on technology including AI and machine learning tools deployed or embedded in third-party systems; failure or cybersecurity incident could disable operations.

Relevance 55·Dependency 45·Confidence 90

Source evidence

“Our operations are increasingly dependent on technology, including AI and machine learning tools that we deploy or that are embedded in systems provided by third parties.”

Federal Renewable Fuel Standard (RFS) program / RINs

Regulatory Exposure

Renewable fuel production from landfill gas projects is incentivized by RFS RINs; changes to the RFS program structure, EPA actions or RIN prices may impact project financial performance and future investment plans.

Relevance 55·Dependency 35·Confidence 90

Source evidence

“Changes in the RFS market, the structure of the RFS program or RIN prices and demand may impact the financial performance of the projects developed to capture and treat gas and could impact or alter our projected future investments.”

Fiber-based recycled materials (OCC, ONP, mixed paper)

Supplier Dependency

Approximately 83% of recycling center volume is fiber based (OCC, ONP, other mixed paper), linking recycling revenue to fiber commodity markets.

Relevance 50·Dependency 40·Confidence 92

Source evidence

“Approximately 83% of our total recycling center volume is fiber based and includes OCC, ONP and other mixed paper.”

Recycled plastics (Polymer Centers / Blue Polymers)

Manufacturing Dependency

Polymer Centers and the Blue Polymers JV with Ravago create vertical integration in plastics circularity, producing food-grade drop-in substitutes for virgin plastics; Blue Polymers acquires all olefins produced by the Polymer Centers.

Relevance 50·Dependency 35·Confidence 93

Source evidence

“Our Polymer Centers are part of a vertical integration that will advance circularity for plastics and help us manage the plastics stream from curbside collection to delivery of recycled content for consumer packaging.”

Construction and demolition customers

Demand Driver

The temporary portion of the large-container collection business is primarily construction and demolition material, typically event-driven.

Relevance 45·Dependency 30·Confidence 90

Source evidence

“For the temporary portion of our large-container collection business, the majority of the material relates to construction and demolition activities and is typically event-driven.”

Full company information

Latest profile, trading, valuation, and identifier data stored for RSG.

Share price: $213.88
Market cap: $65.80B
Exchange: NYSE
Currency: USD
CEO: Jon Vander Ark
Employees: 42,000
IPO date: 01/07/1998
Beta: 0.4
Last dividend: $0.00
Day range: $213.32 – $215.44
52-week range: $196.41 – $233.42
1-day performance: -0.02%
1-year performance: 8.89%
Current drawdown (1Y): -8.37%
CIK: 0001060391
CUSIP: 760759100
ISIN: US7607591002
Created: 07/12/2025, 14:03:34
Last update: 23/09/2026, 14:43:59

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