REPUBLIC SERVICES, INC.RSG
REPUBLIC SERVICES, INC. Financial Overview 2021–2025
Republic Services extracted a massive 19.6% revenue surge in FY2022, anchored by its $2.2 billion acquisition of US Ecology. This aggressive consolidation underscores the company’s central investment appeal: a highly integrated environmental services model capable of dictating price increases above cost inflation to fund relentless shareholder returns. By combining strategic buyouts with steady core volume, revenue grew from $11.3 billion in FY2021 to $16.6 billion in FY2025.
The company's financial engine relies on durable pricing power, demonstrated by a 4.1% average yield increase during FY2025. This operational leverage pushed full-year net income to $2.1 billion, up from $2.0 billion in FY2024. Management routinely funnels this cash generation back to investors. In FY2025, the company marked its 22nd consecutive year of dividend increases while executing $594 million in share repurchases over the first nine months alone. Investors have rewarded this predictable, cash-rich profile. At the close of FY2025, the market valued the stock at $211.93, pricing the company at a 30.9x multiple against its $6.85 in diluted earnings per share.
Recent Developments (Q3 and Q4 2025)
Republic Services generated $12.46 billion in revenue during the first nine months of FY2025, marking a 3.9% increase year-over-year. Acquisitions remained a growth driver, contributing 1.3% to the top line and expanding total goodwill to $16.70 billion. Management established initial FY2026 guidance, projecting revenue between $17.05 billion and $17.15 billion alongside adjusted EBITDA ranging from $5.475 billion to $5.525 billion. The company also expanded its leadership by appointing Ian Craig to the Board of Directors in Q1 2026.
Bulls point to the company's expected FY2026 adjusted free cash flow of up to $2.56 billion as proof of a cash-generative operating model. Bears emphasize the stock is priced for perfection, trading at 33.4x earnings as of February 17, 2026.
What to watch: progress on FY2026 adjusted EBITDA targets; returns from the expanding fleet of over 180 electric-collection vehicles.
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, 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.
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, Executive Changes (Feb 12, 2026)
Republic Services, Inc. (RSG) has filed an 8-K report detailing significant board-level changes and a routine dividend declaration. The most impactful news for investors is the appointment of Ian Craig, a 53-year-old individual, to the Board of Directors, effective immediately. Mr. Craig will serve on both the Audit Committee and the Sustainability & Corporate Responsibility Committee, bringing potentially new perspectives to these critical oversight functions. Investors should note the compensation structure for Mr. Craig as a non-employee director, which includes an annual grant of restricted stock units (RSUs) valued at $230,000 and a cash retainer of $100,000, both prorated for the remainder of 2026. The RSUs vest immediately and are settled upon termination or three years after grant, with dividend equivalents paid in additional RSUs. Additionally, the company declared its regular quarterly dividend of $0.625 per share, payable on April 15, 2026, to shareholders of record on April 2, 2026. This indicates continued confidence in the company's financial stability and commitment to returning value to shareholders.
REPUBLIC SERVICES, INC. 8-K Report, Financial Results (Oct 30, 2025)
Republic Services, Inc. (RSG) filed an 8-K on October 30, 2025, to report on its financial results for the third quarter and first nine months of 2025. The filing includes a press release detailing these results. While specific profit and loss figures are not detailed within the 8-K itself, the report does provide an update on full-year 2025 revenue guidance. Investors should note that the Company now expects full-year 2025 revenue to be near the low end of its previously stated guidance range of $16.675 billion to $16.750 billion. This suggests a more conservative outlook for the remainder of the year, potentially due to factors mentioned in the forward-looking statements section. The filing also reiterates the standard forward-looking statements disclaimer, highlighting various risks that could impact actual performance, including economic conditions, interest rates, potential labor disruptions, and acquisition integration.
REPUBLIC SERVICES, INC. 8-K Report, Corporate Update (Oct 23, 2025)
Republic Services, Inc. (RSG) has filed a Current Report on Form 8-K to announce a routine event: the declaration of its regular quarterly dividend. This filing provides clarity for shareholders regarding upcoming dividend payments and their respective record and payment dates. While not indicative of a significant operational change or strategic development, such announcements are important for income-focused investors who rely on consistent dividend distributions from their investments.
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