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Republic Services

NYSE:RSG
Snowflake Description

Established dividend payer with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RSG
NYSE
$26B
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

Republic Services, Inc., together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The last earnings update was 74 days ago. More info.


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RSG Share Price and Events
7 Day Returns
1%
NYSE:RSG
0.3%
US Commercial Services
-0.1%
US Market
1 Year Returns
22.6%
NYSE:RSG
11.8%
US Commercial Services
7.6%
US Market
RSG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Republic Services (RSG) 1% 0.8% 4.3% 22.6% 72.5% 127.6%
US Commercial Services 0.3% 5.8% 9.5% 11.8% 54.7% 77.7%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • RSG outperformed the Commercial Services industry which returned 11.8% over the past year.
  • RSG outperformed the Market in United States of America which returned 7.6% over the past year.
Price Volatility
RSG
Industry
5yr Volatility vs Market

RSG Value

 Is Republic Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Republic Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Republic Services.

NYSE:RSG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:RSG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 21%) (32.58%))
0.948
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.948 * 5.96%)
8.38%

Discounted Cash Flow Calculation for NYSE:RSG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Republic Services is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:RSG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.38%)
2019 1,148.55 Analyst x6 1,059.77
2020 1,249.06 Analyst x5 1,063.42
2021 1,301.00 Analyst x1 1,022.02
2022 1,393.00 Analyst x1 1,009.71
2023 1,488.00 Analyst x1 995.20
2024 1,562.28 Est @ 4.99% 964.11
2025 1,629.66 Est @ 4.31% 927.95
2026 1,692.21 Est @ 3.84% 889.09
2027 1,751.53 Est @ 3.51% 849.12
2028 1,808.86 Est @ 3.27% 809.13
Present value of next 10 years cash flows $9,589.52
NYSE:RSG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,808.86 × (1 + 2.73%) ÷ (8.38% – 2.73%)
$32,904.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $32,904.40 ÷ (1 + 8.38%)10
$14,718.60
NYSE:RSG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $9,589.52 + $14,718.60
$24,308.12
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $24,308.12 / 321.68
$75.57
NYSE:RSG Discount to Share Price
Calculation Result
Value per share (USD) From above. $75.57
Current discount Discount to share price of $79.56
= -1 x ($79.56 - $75.57) / $75.57
-5.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Republic Services is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Republic Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Republic Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:RSG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $3.17
NYSE:RSG Share Price ** NYSE (2019-04-23) in USD $79.56
United States of America Commercial Services Industry PE Ratio Median Figure of 51 Publicly-Listed Commercial Services Companies 21.49x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Republic Services.

NYSE:RSG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:RSG Share Price ÷ EPS (both in USD)

= 79.56 ÷ 3.17

25.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Republic Services is overvalued based on earnings compared to the US Commercial Services industry average.
  • Republic Services is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Republic Services's expected growth come at a high price?
Raw Data
NYSE:RSG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
4%per year
United States of America Commercial Services Industry PEG Ratio Median Figure of 34 Publicly-Listed Commercial Services Companies 1.62x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

NYSE:RSG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.08x ÷ 4%

6.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Republic Services is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Republic Services's assets?
Raw Data
NYSE:RSG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $24.58
NYSE:RSG Share Price * NYSE (2019-04-23) in USD $79.56
United States of America Commercial Services Industry PB Ratio Median Figure of 87 Publicly-Listed Commercial Services Companies 2.23x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NYSE:RSG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:RSG Share Price ÷ Book Value per Share (both in USD)

= 79.56 ÷ 24.58

3.24x

* Primary Listing of Republic Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Republic Services is overvalued based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess Republic Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Republic Services has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

RSG Future Performance

 How is Republic Services expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Republic Services expected to grow at an attractive rate?
  • Republic Services's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Republic Services's earnings growth is positive but not above the United States of America market average.
  • Republic Services's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:RSG Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:RSG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 4%
NYSE:RSG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 4%
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:RSG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:RSG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 12,214 1
2022-12-31 11,744 1
2021-12-31 11,409 1,205 4
2020-12-31 10,923 2,402 1,113 10
2019-12-31 10,480 2,312 1,026 11
NYSE:RSG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 10,041 2,243 1,037
2018-09-30 10,071 2,276 1,400
2018-06-30 10,067 2,223 1,360
2018-03-31 10,076 2,048 1,328
2017-12-31 10,042 1,911 1,278
2017-09-30 9,861 1,870 804
2017-06-30 9,708 1,883 666
2017-03-31 9,532 1,861 644
2016-12-31 9,388 1,848 613
2016-09-30 9,299 1,715 595
2016-06-30 9,233 1,623 725
2016-03-31 9,194 1,615 734

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Republic Services's earnings are expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
  • Republic Services's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:RSG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Republic Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:RSG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 4.02 4.02 4.02 1.00
2020-12-31 3.59 3.70 3.55 7.00
2019-12-31 3.23 3.27 3.14 6.00
NYSE:RSG Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 3.17
2018-09-30 4.25
2018-06-30 4.10
2018-03-31 3.97
2017-12-31 3.79
2017-09-30 2.37
2017-06-30 1.96
2017-03-31 1.88
2016-12-31 1.79
2016-09-30 1.73
2016-06-30 2.09
2016-03-31 2.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Republic Services is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Republic Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Republic Services has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

RSG Past Performance

  How has Republic Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Republic Services's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Republic Services's year on year earnings growth rate has been positive over the past 5 years.
  • Republic Services's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Republic Services's 1-year earnings growth is negative, it can't be compared to the US Commercial Services industry average.
Earnings and Revenue History
Republic Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Republic Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:RSG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 10,040.90 1,036.90 1,059.50
2018-09-30 10,070.90 1,400.40 1,049.20
2018-06-30 10,067.20 1,360.30 1,055.00
2018-03-31 10,076.20 1,328.30 1,065.10
2017-12-31 10,041.50 1,278.40 1,057.40
2017-09-30 9,860.70 803.50 1,032.90
2017-06-30 9,708.00 665.90 1,001.50
2017-03-31 9,531.90 643.70 982.10
2016-12-31 9,387.70 612.60 969.80
2016-09-30 9,298.70 595.30 983.70
2016-06-30 9,233.40 724.60 992.40
2016-03-31 9,194.20 734.20 985.10
2015-12-31 9,115.00 749.90 983.10
2015-09-30 9,053.90 628.00 955.90
2015-06-30 8,977.80 598.80 940.90
2015-03-31 8,895.50 587.50 925.60
2014-12-31 8,803.30 547.60 918.90
2014-09-30 8,715.70 733.90 843.70
2014-06-30 8,613.20 719.50 840.40
2014-03-31 8,495.80 596.80 831.50
2013-12-31 8,417.20 588.90 853.60
2013-09-30 8,304.10 479.30 846.60
2013-06-30 8,185.60 460.60 812.90
2013-03-31 8,134.50 553.50 808.70
2012-12-31 8,118.30 571.80 824.60
2012-09-30 8,115.10 635.80 836.20
2012-06-30 8,184.40 676.60 851.60

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Republic Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Republic Services used its assets less efficiently than the US Commercial Services industry average last year based on Return on Assets.
  • Republic Services has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Republic Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Republic Services has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

RSG Health

 How is Republic Services's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Republic Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Republic Services's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Republic Services's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Republic Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Republic Services Company Filings, last reported 3 months ago.

NYSE:RSG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 7,929.50 8,337.50 70.50
2018-09-30 7,923.80 8,251.00 81.90
2018-06-30 7,848.80 8,259.20 61.30
2018-03-31 7,914.30 8,206.70 62.60
2017-12-31 7,961.10 8,187.40 83.30
2017-09-30 7,674.20 7,857.70 63.90
2017-06-30 7,665.10 7,781.10 36.00
2017-03-31 7,685.70 7,670.10 33.20
2016-12-31 7,693.70 7,658.90 67.80
2016-09-30 7,641.50 7,765.60 55.00
2016-06-30 7,758.00 7,633.50 42.00
2016-03-31 7,765.90 7,560.40 33.40
2015-12-31 7,776.60 7,532.90 32.40
2015-09-30 7,802.20 7,561.00 102.50
2015-06-30 7,764.70 7,552.60 99.90
2015-03-31 7,764.70 7,564.60 134.30
2014-12-31 7,747.80 7,061.20 75.20
2014-09-30 7,931.30 7,030.50 113.00
2014-06-30 7,855.50 7,052.20 49.50
2014-03-31 7,824.70 7,013.30 175.80
2013-12-31 7,906.10 7,022.50 213.30
2013-09-30 7,739.40 7,039.10 97.30
2013-06-30 7,713.20 7,028.60 96.70
2013-03-31 7,734.40 7,032.90 130.10
2012-12-31 7,705.70 7,070.50 67.60
2012-09-30 7,741.60 7,104.40 74.00
2012-06-30 7,682.70 7,113.40 69.30
  • Republic Services's level of debt (105.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (88.8% vs 105.1% today).
  • Debt is well covered by operating cash flow (26.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.3x coverage).
X
Financial health checks
We assess Republic Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Republic Services has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

RSG Dividends

 What is Republic Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.89%
Current annual income from Republic Services dividends. Estimated to be 1.97% next year.
If you bought $2,000 of Republic Services shares you are expected to receive $38 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Republic Services's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Republic Services's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:RSG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 42 Stocks 1.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:RSG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.62 3.00
2020-12-31 1.60 8.00
2019-12-31 1.51 8.00
NYSE:RSG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-08 1.500 1.908
2019-02-07 1.500 1.943
2018-10-26 1.500 2.015
2018-10-25 1.500 2.169
2018-07-27 1.500 2.056
2018-07-26 1.500 2.089
2018-05-03 1.380 2.015
2018-05-02 1.380 2.098
2018-02-09 1.380 2.082
2018-02-08 1.380 2.214
2017-07-27 1.380 2.113
2017-04-28 1.280 2.008
2017-04-27 1.280 2.026
2017-02-17 1.280 2.046
2017-02-16 1.280 2.137
2016-10-28 1.280 2.284
2016-10-27 1.280 2.487
2016-07-29 1.280 2.529
2016-07-28 1.280 2.482
2016-04-29 1.200 2.413
2016-04-28 1.200 2.544
2016-02-12 1.200 2.571
2016-02-11 1.200 2.727
2015-10-30 1.200 2.740
2015-10-29 1.200 2.737
2015-07-24 1.200 2.860
2015-07-23 1.200 2.936
2015-04-24 1.120 2.786
2015-04-23 1.120 2.759
2014-10-30 1.120 2.786
2014-07-24 1.120 2.891
2014-04-24 1.040 2.876
2014-02-13 1.040 3.048
2014-02-06 1.040 3.128
2013-07-25 1.040 3.105
2013-04-25 0.940 2.738
2012-11-01 0.940 3.097
2012-07-26 0.940 3.341
2012-04-26 0.880 3.327
2012-02-09 0.880 2.900
2011-10-27 0.880 3.175
2011-07-28 0.880 3.111
2011-04-28 0.800 2.585
2011-02-10 0.800 2.690
2010-11-04 0.800 2.708
2010-07-29 0.800 2.613
2010-04-29 0.760 2.520
2010-02-11 0.760 2.619
2009-11-02 0.760 2.729
2009-07-29 0.760 2.899
2009-04-30 0.760 3.230
2009-04-24 0.760 3.787

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Republic Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Republic Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Republic Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Republic Services has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

RSG Management

 What is the CEO of Republic Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Don Slager
COMPENSATION $11,549,710
AGE 56
TENURE AS CEO 8.3 years
CEO Bio

Mr. Donald W. Slager, also known as Don, has been the Chief Executive Officer and President at Republic Services, Inc. since January 1, 2011 and December 5, 2008 respectively and served as its Chief Operating Officer since May 27, 2016 until August 1, 2016. Mr. Slager served as the Principal Operations Officer of Republic Services, Inc. since October 2013 until June 9, 2014. He serves as the President and Chief Executive Officer at Browning-Ferris Industries, Inc. He served as the Chief Operating Officer of Allied Waste Industries Inc. since June 24, 2003 and served as its Vice President since December 2008. He served as the Chief Operating Officer at Republic Services, Inc. since December 5, 2008 until January 1, 2011. Mr. Slager served as the President of Allied Waste Industries Inc. from January 3, 2005 to December 2008, Executive Vice President from June 24, 2003 to January 3, 2005 and as its Senior Vice President of Operations since December 2001. He served as the Vice President of Operations at Allied Waste Industries Inc. from February 1998 to December 2001, Assistant Vice President of Operations from June 1997 to February 1998 and it’s Regional Vice President of the West Region from June 1996 to June 1997. He served as District Manager at Chicago Metro District from 1992 to 1996. Before Allied’s acquisition of National Waste Services in 1992, he served at National Waste Services as General Manager from 1985 to 1992 and in other management positions since 1985. Mr. Slager has been Director of Martin Marietta Materials, Inc. since May 2016. Mr. Slager has been a Director of Republic Services, Inc. since June 24, 2010. He served as a Director of UTi Worldwide, Inc. since September 13, 2009 until January 2016. Mr. Slager served as Governing Board Member of Together for Safer Roads and as Director of Arizona Commerce Authority. Mr. Slager has completed the Northwestern University Kellogg School Advanced Executive Program and holds a certificate from the Stanford University Board Consortium Development Program. Mr. Slager has over 35 years of experience in the solid waste industry.

CEO Compensation
  • Don's compensation has been consistent with company performance over the past year.
  • Don's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Republic Services management team in years:

5.3
Average Tenure
55.5
Average Age
  • The average tenure for the Republic Services management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Don Slager

TITLE
President
COMPENSATION
$12M
AGE
56
TENURE
8.3 yrs

Chuck Serianni

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
56
TENURE
4.7 yrs

Jeffrey Hughes

TITLE
Executive VP & Chief Administrative Officer
COMPENSATION
$2M
AGE
61
TENURE
10.3 yrs

Catharine Ellingsen

TITLE
Executive VP
COMPENSATION
$2M
AGE
54
TENURE
2.8 yrs

Jon Ark

TITLE
Executive VP & COO
AGE
43
TENURE
1.3 yrs

Brian Goebel

TITLE
VP & Chief Accounting Officer
AGE
50
TENURE
6 yrs

Nicole Giandinoto

TITLE
Senior VP of Investor Relations & Treasurer

Darcie Brossart

TITLE
Senior Vice President of Communications
TENURE
7.3 yrs

Sue Klug

TITLE
Chief Marketing Officer & Executive VP
AGE
58
TENURE
2.6 yrs

Brian Bales

TITLE
Executive VP & Chief Development Officer
AGE
55
Board of Directors Tenure

Average tenure and age of the Republic Services board of directors in years:

4.2
Average Tenure
54
Average Age
  • The tenure for the Republic Services board of directors is about average.
Board of Directors

Manuel Kadre

TITLE
Chairman of the Board
COMPENSATION
$383K
AGE
52
TENURE
2.1 yrs

Don Slager

TITLE
President
COMPENSATION
$12M
AGE
56
TENURE
8.8 yrs

Michael Larson

TITLE
Independent Director
COMPENSATION
$320K
AGE
59
TENURE
9.5 yrs

Tomago Collins

TITLE
Independent Director
COMPENSATION
$316K
AGE
46
TENURE
5.7 yrs

Tom Handley

TITLE
Independent Director
COMPENSATION
$316K
AGE
63
TENURE
2.8 yrs

Jennifer Kirk

TITLE
Independent Director
COMPENSATION
$300K
AGE
43
TENURE
2.8 yrs

Ramon Rodriguez

TITLE
Independent Director
COMPENSATION
$353K
AGE
72
TENURE
20.1 yrs

John Trani

TITLE
Independent Director
COMPENSATION
$300K
AGE
73
TENURE
10.3 yrs

Sandra Volpe

TITLE
Independent Director
COMPENSATION
$300K
AGE
51
TENURE
2.3 yrs

Kim Pegula

TITLE
Director
COMPENSATION
$131K
AGE
49
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • Republic Services insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
29. Mar 19 Sell Jeffrey Hughes Individual 27. Mar 19 27. Mar 19 -10,118 $80.40 $-813,481
29. Mar 19 Sell Tomago Collins Individual 27. Mar 19 27. Mar 19 -2 $78.11 $-156
29. Mar 19 Sell Tomago Collins Individual 27. Mar 19 27. Mar 19 -4,100 $80.59 $-330,419
26. Mar 19 Sell Ramon Rodriguez Individual 25. Mar 19 25. Mar 19 -5,480 $79.75 $-437,027
01. Nov 18 Buy Jennifer Kirk Individual 31. Oct 18 31. Oct 18 1,500 $72.35 $108,525
01. Jun 18 Sell Jeffrey Hughes Individual 30. May 18 30. May 18 -5,196 $68.00 $-353,328
X
Management checks
We assess Republic Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Republic Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

RSG News

Simply Wall St News

Republic Services, Inc. (NYSE:RSG) Insiders Have Been Selling

So we'll take a look at whether insiders have been buying or selling shares in Republic Services, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … All up, insiders sold more shares in Republic Services than they bought, over the last year

Simply Wall St -

Is Republic Services, Inc. (NYSE:RSG) A Financially Sound Company?

(NYSE:RSG), a large-cap worth US$25b, comes to mind for investors seeking a strong and reliable stock investment. … Big corporations are much sought after by risk-averse investors who find diversified revenue streams and strong capital returns attractive. … Today we will look at Republic Services’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth.

Simply Wall St -

With A -19% Earnings Drop, Did Republic Services, Inc. (NYSE:RSG) Really Underperform?

Today I will assess RSG's recent performance announced on 31 December 2018 and compare these figures to its historical trend and industry movements. … RSG's trailing twelve-month earnings (from 31 December 2018) of US$1.0b has. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 17%, indicating the rate at which RSG is growing has slowed down

Simply Wall St -

Why Republic Services, Inc.'s (NYSE:RSG) High P/E Ratio Isn't Necessarily A Bad Thing

Based on the last twelve months, Republic Services's P/E ratio is 24.79. … How Do I Calculate Republic Services's Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Why You Should Care About Republic Services, Inc.’s (NYSE:RSG) Cash Levels

I’ve analysed below, the health and outlook of Republic Services’s cash flow, which will help you understand the stock from a cash standpoint. … Republic Services’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … There are two methods I will use to evaluate the quality of Republic Services’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability

Simply Wall St -

The Republic Services Share Price Has Gained 128%, So Why Not Pay It Some Attention?

By comparing earnings per share (EPS) and and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, Republic Services managed to grow its earnings per share at 14% a year. … This EPS growth is slower than the share price growth of 18% per year, over the same period.

Simply Wall St -

What Do Analysts Think About Republic Services, Inc.'s (NYSE:RSG) Earnings Outlook?

Help shape the future of investing tools and you could win a $250 gift card! … Republic Services, Inc.'s (NYSE:RSG) released its most recent earnings update in December 2018, which

Simply Wall St -

Republic Services, Inc. (NYSE:RSG): A Fundamentally Attractive Investment

Help shape the future of investing tools and you could win a $250 gift card! … Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Republic Services, Inc.

Simply Wall St -

Can Republic Services, Inc.'s (NYSE:RSG) ROE Continue To Surpass The Industry Average?

This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.18 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Have Insiders Been Selling Republic Services, Inc. (NYSE:RSG) Shares This Year?

But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was selling shares at slightly below the current price (US$72.81). … It's not particularly great to see insiders were selling shares at below recent prices

Simply Wall St -

RSG Company Info

Description

Republic Services, Inc., together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company’s collection services include curbside collection of waste for transport to transfer stations, landfills, or recycling processing centers; supply of waste containers; and renting of compactors. It is also involved in the processing and sale of old corrugated containers, old newsprint, aluminum, glass, and other materials; temporary waste and recycling collection services; and provision of landfill services. As of December 31, 2018, the company operated through 349 collection operations, 207 transfer stations, 190 active landfills, 91 recycling processing centers, and 11 salt water disposal wells, as well as 7 treatment, recovery, and disposal facilities in 41 states and Puerto Rico. It also operated 75 landfill gas-to-energy and renewable energy projects and had 129 closed landfills. The company was founded in 1996 and is headquartered in Phoenix, Arizona.

Details
Name: Republic Services, Inc.
RSG
Exchange: NYSE
Founded: 1996
$25,592,690,382
321,677,858
Website: http://republicservices.com
Address: Republic Services, Inc.
18500 North Allied Way,
Phoenix,
Arizona, 85054,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE RSG Common Stock New York Stock Exchange US USD 01. Jul 1998
DB RPU Common Stock Deutsche Boerse AG DE EUR 01. Jul 1998
LSE 0KW1 Common Stock London Stock Exchange GB USD 01. Jul 1998
BMV RSGA * Common Stock Bolsa Mexicana de Valores MX MXN 01. Jul 1998
Number of employees
Current staff
Staff numbers
36,000
Republic Services employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 23:43
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/22
Last earnings filing: 2019/02/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.