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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, 2 treatment, recovery and disposal facilities, 24 treatment, storage and disposal facilities (TSDF), 5 salt water disposal wells, …
17.35% operating margin is respectable but not wide. ROIC at 10.87%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 3.3%, steady but not accelerating.
Net debt of $14.75B represents 6.1x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$19.13B
▲ +3.3% YoY
Net Income (TTM)
$2.17B
▲ +4.7% YoY
Op. Margin
17.39%
ROIC
11.25%
▼ -0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2.59B
▲ +15.8% YoY
Op. Cash Flow (TTM)
$4.50B
▲ +9.1% YoY
Net Debt
$13.97B
Cash & Equiv.
$118M
5Y CAGR: +9.6%
5Y CAGR: +13.5%
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