RSG Financials Republic Services

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 1, 2026, 10:32 UTC Overview →

Growth & profitability

Revenue has grown 10.3% per year over the past 5 years.
Net income has grown faster than revenue (17.2% vs 10.3% per year).
Operating margin has expanded, at 19.9% in the latest year.
Free cash flow has grown 13.5% per year over the past 5 years.

Financial health

Total debt ($13.7B) exceeds cash ($76M); net debt is $13.6B.
Total debt has grown in line with revenue (8.7% vs 10.3% per year).
Operating income covered interest expense 5.8× in the latest year.
Total debt is 2.7× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 34.5% of earnings and 30.6% of free cash flow.
The dividend has grown 7.2% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$16.6B	$2.1B	42.0%	19.9%	17.9%	6.2%	$2.4B	$13.7B	$76M
2024	$16.0B	$2.0B	41.7%	19.9%	17.9%	6.3%	$2.1B	$12.8B	$74M
2023	$15.0B	$1.7B	40.2%	18.6%	16.4%	5.5%	$2.0B	$12.8B	$140M
2022	$13.5B	$1.5B	39.3%	17.7%	15.4%	5.1%	$1.7B	$11.9B	$143M
2021	$11.3B	$1.3B	40.3%	18.4%	14.4%	5.2%	$1.5B	$9.7B	$29M
2020	$10.2B	$967M	39.9%	16.8%	11.4%	4.1%	$1.3B	$9.1B	$38M
2019	$10.3B	$1.1B	38.8%	17.4%	13.2%	4.7%	$1.1B	$8.8B	$47M
2018	$10.0B	$1.0B	38.8%	17.3%	13.1%	4.8%	$1.2B	$8.3B	$71M
2017	$10.0B	$1.3B	38.1%	16.6%	16.1%	6.0%	$921M	$8.2B	$83M
2016	$9.4B	$613M	38.6%	16.4%	8.0%	3.0%	$920M	$7.7B	$68M
2015	—	$750M	—	—	9.6%	3.7%	$734M	$7.5B	$32M
2014	—	$548M	—	—	7.1%	2.7%	$667M	$7.0B	$75M
2013	—	$589M	—	—	7.5%	3.0%	$667M	$7.0B	$213M
2012	—	$572M	—	—	7.4%	2.9%	$610M	$7.1B	$68M
2011	—	$589M	—	—	7.7%	3.0%	$830M	$6.9B	$66M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$4.6B	$592M	41.6%	20.2%	4.8%	1.7%	$644M	—	$92M
Jun '26	$4.4B	$566M	42.1%	20.3%	4.7%	1.6%	$761M	—	$107M
Mar '26	$4.1B	$525M	42.5%	20.2%	4.4%	1.5%	$751M	—	$118M
Dec '25	$4.1B	$545M	41.9%	19.3%	4.6%	1.6%	$404M	$13.7B	$76M
Sep '25	$4.2B	$550M	41.5%	19.8%	4.6%	1.6%	$737M	—	$84M
Jun '25	$4.2B	$550M	42.2%	20.3%	4.6%	1.6%	$702M	—	$122M
Mar '25	$4.0B	$495M	42.3%	20.1%	4.2%	1.5%	$566M	—	$83M
Dec '24	$4.0B	$512M	42.7%	19.8%	4.5%	1.6%	$524M	$12.8B	$74M
Sep '24	$4.1B	$566M	41.9%	20.8%	5.0%	1.8%	$564M	—	$83M
Jun '24	$4.0B	$512M	41.1%	20.1%	4.6%	1.6%	$697M	—	$491M
Mar '24	$3.9B	$454M	40.9%	19.0%	4.2%	1.4%	$296M	—	$92M
Dec '23	$3.8B	$440M	40.9%	18.3%	4.2%	1.4%	$351M	$12.8B	$140M
Sep '23	$3.8B	$480M	40.3%	19.0%	4.6%	1.6%	$584M	—	$158M
Jun '23	$3.7B	$427M	40.3%	19.0%	4.2%	1.4%	$743M	—	$182M
Mar '23	$3.6B	$384M	39.4%	18.0%	3.9%	1.3%	$309M	—	$132M
Dec '22	$3.5B	$347M	38.2%	16.4%	3.6%	1.2%	$281M	$11.9B	$143M
Sep '22	$3.6B	$417M	39.0%	18.5%	4.4%	1.5%	$539M	—	$81M
Jun '22	$3.4B	$372M	39.5%	17.3%	4.0%	1.3%	$544M	—	$119M
Mar '22	$3.0B	$352M	40.6%	18.9%	3.9%	1.4%	$372M	—	$39M
Dec '21	$3.0B	$313M	38.7%	17.0%	3.5%	1.3%	$237M	$9.7B	$29M

Valuation over time

How the market has priced RSG against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 27.7× (Mar '23) to 34.6× (Nov '26).
The price-to-sales ratio has risen from 3.0× (Mar '23) to 4.5× (Nov '26).
The dividend yield has fallen from 1.4% (Mar '23) to 1.0% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is RSG growing its revenue and profit?

Over the past 5 years, Republic Services's revenue has grown 10.3% per year, and net income grown 17.2% per year. These are computed facts, not advice.

How much debt does RSG have?

As of FY2025, Republic Services reported $13.7B of total debt against $76M of cash; operating income covered interest expense 5.8×.

What is RSG's profit margin?

In FY2025, gross margin was 42.0%, operating margin 19.9%, and net margin 12.9%.

What is RSG's P/E ratio?

Republic Services's P/E (TTM) is 33.21 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the RSG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 34.6× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.