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Republic Services Inc RSG

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Stock XNYS Rating as of
$214.63 −5.90 (2.68%)
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Republic's Operation Efficiency Should Keep Margins Strong; Increasing FVE to $200 From $190

Suryansh Sharma

Following right behind industry leader WM, Republic Services dominates landfill ownership. As a fully integrated waste hauler, the company leverages a vast network of collection routes and transfer stations, which bestows significant control over the waste stream and strong internalization rates, funneling waste from commercial, industrial, and residential end markets into its highly valuable landfill assets. Outside the large public waste haulers, which account for roughly half of industry revenue, size falls off quickly, and the market becomes fragmented.

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Price vs Fair Value

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RSG is trading at a LOCK|?Sj?D premium.
Price
$222.31
Fair Value
LOCK|Kg
Uncertainty
LOCK|>c@W
1-Star Price
LOCK|^>
5-Star Price
LOCK|n>
Economic Moat
LOCK|M>w
Capital Allocation
LOCK|W&H&>p

Bulls Say, Bears Say

Bulls

Republic’s traditional solid waste operations should continue to perform well due to solid execution and strong pricing. The average life of Republic’s landfill portfolio is 56 years, which is much higher than its peers.

Bears

The acquisition of US Ecology and future acquisitions could underperform the firm’s expectations, resulting in value destruction. Republic trades at a rich multiple, and its record margins may face downward pressure as pricing normalizes.

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Trading Information

Previous Close Price
$220.53
Day Range
$213.80–217.66
52-Week Range
$196.41–246.25
Bid/Ask
$214.60 / $216.60
Shares Outstanding
307.66M
Market Cap
$66.03B
Volume/Avg
1M / 2M

Key Statistics

Price/Earnings (Normalized)
31.17
Price/Sales
4.14
Dividend Yield (Trailing)
1.12%
Dividend Yield (Forward)
1.12%
Total Yield
2.74%

Company Profile

Republic Services Group is the second-largest waste management company by revenue and provides integrated waste management services to residential, commercial, and industrial customers. With 208 active landfills, 248 transfer stations, and 75 recycling centers, Republic Services has reached $16 billion in annual revenue, focusing on recycling and environmental solutions. The company reports in three segments based on the Western United States (Group 1), Eastern United States (Group 2), and Environmental Solutions across North America (Group 3). Eighty-nine percent of total revenue comes from recycling and waste, with the remaining 11% from Environmental Solutions.
Sector
Industrials
Industry
Waste Management
Stock Style Box
Mid Core
Total Number of Employees
42,000
Website
https://www.republicservices.com

Competitors

Valuation

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Metric
RSG
VIE
WCN
Price/Earnings (Normalized)
 31.1721.7132.74
Price/Book Value
 5.703.915.42
Price/Sales
 4.140.624.60
Price/Cash Flow
 14.835.7416.08
Price/Earnings
RSG
VIE
WCN

Financial Strength

Metric
RSG
VIE
WCN
Quick Ratio
 0.600.790.57
Current Ratio
 0.670.860.69
Interest Coverage
 5.413.655.03
Quick Ratio
RSG
VIE
WCN

Profitability

Metric
RSG
VIE
WCN
Return on Assets (Normalized)
 6.57%2.16%6.49%
Return on Equity (Normalized)
 18.67%19.67%16.56%
Return on Invested Capital (Normalized)
 10.60%6.39%9.34%
Return on Assets
RSG
VIE
WCN

Waste Management Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Waste Management Inc
WM
LOCK|P><%^j#LOCK|@b$96B
 Waste Connections Inc
WCN
LOCK|yf%<dpTLOCK|tH&$44B
 Veolia Environnement SA
VEOEF
—LOCK|<SCr$31B
 Veolia Environnement SA ADR
VEOEY
LOCK|lB#$!?LOCK|y$>@v$31B
 Clean Harbors Inc
CLH
LOCK|<S$?&PLOCK|bjWb$16B
 GFL Environmental Inc
GFL
—LOCK|?>H%$14B
 Fomento de Construcciones y Contratas SA
FMOCF
—LOCK|Swt$6B
 Casella Waste Systems Inc Class A
CWST
—LOCK|tp$?@$6B
 Umicore SA ADR
UMICY
—LOCK|kYL$5B

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