Republic Services, Inc. (RSG) Stock

Republic Services, Inc. (RSG) is a Utilities stock trading at $222.59 (as of 2026-09-02), with a market capitalization of $68.16B and a trailing P/E of 31.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Republic Services, Inc., together with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste, and other environmental solutions. Its collection services include curbside collection of material for transport to transfer stations, landfills, or recycling processing centers; supply of recycling and waste containers; and renting of compactors. In addition, the company engages in the processing and sale of old corrugated containers, old newsprint, aluminum, glass, and other materials; and provision of landfill and transfer services. Further, it offers disposal of non-hazardous solid and liquid material and in-plant services, such as transportation and logistics. It serves small-container, large-container, and residential customers. As of December 31, 2021, the company operated through 356 collection operations, 239 transfer stations, 198 active landfills, 71 recycling processing centers, 6 saltwater disposal wells, and 7 deep injection wells, as well as 3 treatment, recovery, and disposal facilities in 41 states. It also operated 77 landfill gas-to-energy and renewable energy projects and had 124 closed landfills. The company was incorporated in 1996 and is based in Phoenix, Arizona.

Understand Republic Services, Inc.: how it makes money

Republic Services collects, transfers, and disposes of solid waste and recyclables for residential and commercial customers across the United States. Revenue is driven by collection fees and landfill tipping charges, with pricing power that comes from limited local competition and dense route networks.

Waste is an inelastic, non-discretionary service: every household and business generates trash that must be picked up and disposed of, and the dense network of collection routes, transfer stations, and landfills is extraordinarily expensive for a new entrant to replicate, giving incumbents durable local pricing power.

Revenue by segment (latest quarter)
Collection$2.8B
Landfill$0.5B
Environmental Solutions$0.4B
Transfer$0.2B
Other$0.8B

Business quality (Mixed): Essential-service cash flows with ~50% gross margin and 18% operating margin, but volume headwinds in residential and construction-linked segments, plus a 19% valuation premium over the industry, make this a quality business at a rich price.

Valuation: At 31× earnings, RSG trades 19% above the Other average (26×).

Bull case

  • Accretive M&A pipeline: Management targets more than $1.2 billion in value-creating acquisitions during 2026, extending the proven playbook of buying regional operators to consolidate routes and disposal capacity.
  • AI savings on fixed-cost network: AI initiatives are expected to deliver approximately $100 million in savings over time, with progress toward that target by end-2027, supporting margin expansion on a largely fixed-cost collection operation.
  • Recycling demand outstrips supply: Polymer-center demand now exceeds available capacity with pricing above initial assumptions, giving the Environmental Solutions unit (roughly 8% of revenue) a near-term pricing tailwind.

Bear case

  • Residential volumes in structural decline: Management expects residential collection volumes to keep declining through 2027, a headwind for the core collection segment that represents roughly 56% of revenue.
  • Construction softness hits large accounts: Large-container volumes declined 2.2% in the quarter, reflecting continued construction-related softness that is capping waste-generation growth in the commercial segment.
  • Rich multiple for modest growth: The stock trades at 31.2x earnings, 19% above the 26x industry average, while revenue growth is a modest 4% year over year, leaving little margin for execution misses.
Valuation — source: SEC EDGAR (first-party)
Price$222.59
Market Cap$68.16B
P/E Ratio31.2
EV / EBITDA13.1
Price / Book5.66
Price / Sales3.53
FCF Yield3.5%
DCF Value (model)$119.70
DCF Upside vs Price-46.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$19.03B
Net Margin11.2%
Revenue Growth (YoY)4.0%
EPS Growth (YoY)4.5%
FCF Growth (YoY)115.4%
Financial Health — source: SEC EDGAR
Altman Z-Score3.12 (safe)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E31.2
Sector P/E (Utilities)21.0
Industry P/E (Other)20.6
vs Sector48.4%
vs Industry51.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($4.05B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorUtilities
IndustryOther
CEOJon Vander Ark
Employees42,000
CountryUS
IPO Date1998-07-01

Republic Services, Inc. earnings call transcripts

  • RSG Q2 FY26 earnings call transcript (reported 2026-08-06) · analysis
  • RSG Q4 FY25 earnings call transcript (reported 2026-02-17) · analysis
  • RSG Q2 FY25 earnings call transcript (reported 2025-07-29) · analysis

All RSG earnings calls

Related Companies (Other; 8 comparable companies)

  • Waste Management, Inc. (WM)
  • Casella Waste Systems, Inc. (CWST)
  • ABM Industries Incorporated (ABM)
  • Clean Harbors, Inc. (CLH)
  • Rollins, Inc. (ROL)
  • Darling Ingredients Inc. (DAR)
  • Enviri Corporation (NVRI)
  • Quest Resource Holding Corporation (QRHC)
RSG earnings history · RSG institutional & insider holders · RSG KPIs & operating metrics · RSG financials · RSG investor presentations & press releases · RSG SEC filings · RSG peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.