REPUBLIC SERVICES, INC.RSG
REPUBLIC SERVICES, INC. Financial Overview 2021–2025
Updated Jul 10, 2026Republic Services closed FY2025 by hiking its quarterly dividend by 8%, marking its 22nd consecutive year of payout increases. By systematically pushing average yields higher and absorbing strategic acquisitions, the operator has transformed essential waste collection into a compounding cash engine capable of outrunning cost inflation.
Top-line performance illustrates this steady trajectory, as total revenue expanded from $11.3 billion in FY2021 to $16.6 billion in FY2025. Organic pricing power drove much of this growth, highlighted by a 4.1% average yield increase during FY2025. The company also deployed significant capital to consolidate its market, anchored by the $2.2 billion buyout of US Ecology that broadened its specialized environmental solutions segment. Operational leverage kept pace with scale, lifting net income to $2.1 billion in FY2025 and generating $6.85 in diluted earnings per share. Investors clearly rewarded this defensive reliability. At the close of FY2025, the stock traded at $211.93, valuing the company at a multiple of 30.9x earnings.
Recent Developments (Q4 2025 and Q1 2026)
Republic Services opened 2026 by sustaining its pricing momentum, delivering a 2.6% revenue increase to $4.113 billion in Q1 2026. This expansion was powered by a 3.4% rise in average yield and $433 million deployed toward new acquisitions. Lower relative operating costs improved profitability, lifting net income to $525 million and diluted earnings to $1.70 per share, up from $1.58 in the prior-year period. Management projects continued top-line strength, setting full-year 2026 revenue guidance between $17.050 billion and $17.150 billion. To optimize its capital structure, the company priced $1.2 billion in senior notes in June 2026.
Bulls highlight the company's cash generation, evidenced by $1.227 billion in operating cash flow that easily funds M&A and share repurchases. Conversely, bears note that overall collection volumes decreased slightly, forcing reliance on price hikes to drive growth. The stock is valued at 30.8x earnings as of the Q1 2026 release, leaving a narrow margin for execution error.
What to watch: underlying collection volume trends as price hikes persist; integration efficiency of the Q1 2026 acquisitions.
Rev
$16.03B
FY2024
NI
$2.04B
FY2024
EPS
$6.50
FY2024
OCF
$3.94B
FY2024
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
REPUBLIC SERVICES, INC. 8-K Report, Corporate Update (Jun 24, 2026)
Republic Services, Inc. (RSG) has announced the successful completion of a significant debt offering, raising a total of $1.2 billion through the issuance of new senior notes. This offering includes $700 million in 4.750% notes due 2031 and $500 million in 5.000% notes due 2036. The issuance, executed under an underwriting agreement with BofA Securities and Wells Fargo Securities, is expected to close on or around June 26, 2026. This move indicates the company's strategy to secure long-term financing at favorable interest rates. Investors should note that the proceeds from this offering are not specified in this filing, but typically such capital raises are used for general corporate purposes, including potential acquisitions, capital expenditures, or refinancing existing debt. The registration and legal opinions filed alongside this report suggest a well-structured and compliant offering.
REPUBLIC SERVICES, INC. 8-K Report, Shareholder Vote Results (May 11, 2026)
Republic Services, Inc. (RSG) filed an 8-K on May 11, 2026, reporting the results of its 2026 Annual Meeting of Shareholders held on May 7, 2026. The filing indicates strong shareholder support for the company's leadership and strategic direction, with all director nominees being overwhelmingly elected and the compensation of named executive officers receiving advisory approval. Furthermore, the appointment of Ernst & Young LLP as the independent registered public accounting firm for 2026 was also ratified by a substantial majority of shareholders. Notably, the report addresses a potential application of an Arizona statute concerning voting thresholds for significant shareholders. While the company does not take a position on the statute's enforceability, it clarifies that even if applied to a large shareholder like Cascade Investment, L.L.C. (holding approximately 35.5% of the stock), the outcome of the shareholder votes on executive compensation and auditor ratification would not have been altered. This suggests a stable governance structure and continued confidence from the shareholder base.
REPUBLIC SERVICES, INC. 8-K Report, Financial Results (May 7, 2026)
Republic Services, Inc. (RSG) filed an 8-K on May 7, 2026, primarily to report its financial results for the first quarter ended March 31, 2026. The accompanying press release, furnished as Exhibit 99.1, contains key performance indicators and financial metrics that investors should review to understand the company's recent operational and financial standing. Additionally, the filing disclosed a regular quarterly dividend declaration. The Board of Directors approved a dividend of $0.625 per share, payable on July 15, 2026, to shareholders of record on July 2, 2026. This regular dividend payout signals continued confidence in the company's financial health and commitment to returning capital to shareholders.
REPUBLIC SERVICES, INC. 8-K Report, Financial Results (Feb 17, 2026)
Republic Services, Inc. (RSG) has filed an 8-K report on February 17, 2026, primarily to furnish its press release detailing financial results for the fiscal year and fourth quarter ended December 31, 2025, and to provide its financial guidance for the full year 2026. The company projects a revenue range of $17,050 million to $17,150 million for 2026, with net income expected between $2,200 million and $2,220 million. Adjusted EBITDA is forecasted at $5,475 million to $5,525 million, and adjusted diluted earnings per share are projected at $7.20 to $7.28. Key financial metrics such as cash flow are also provided, with operating cash flow expected between $4,460 million and $4,540 million, and adjusted free cash flow anticipated at $2,520 million to $2,560 million. The guidance is based on current economic conditions, and the company emphasizes that these projections are forward-looking and subject to various risks and uncertainties that could materially impact actual results. Investors should pay close attention to the detailed reconciliation of adjusted metrics provided in the referenced press release.
REPUBLIC SERVICES, INC. 8-K Report, Bylaw Amendment (Feb 17, 2026)
Republic Services, Inc. (RSG) has filed a Current Report on Form 8-K detailing an amendment to its Amended and Restated Bylaws, effective February 10, 2026. The primary change concerns the exclusive forum provision, which has been expanded to cover a broader range of stockholder actions. Specifically, the provision now extends to actions brought by stockholders in their capacity as such, or on behalf of the Company, even if they do not strictly qualify as "internal corporate claims" under Delaware law, provided these claims relate to the Company's business, affairs, or the rights/powers of its stakeholders. This amendment is significant as it aims to centralize litigation related to the Company's operations and governance within a specific forum, potentially reducing the costs and complexities associated with multi-jurisdictional lawsuits. While the core business operations and financial performance are not addressed in this filing, investors should be aware of this governance-related change, as it could impact how future disputes involving the Company are resolved and may influence the ease with which certain legal actions can be pursued by stockholders.
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