Latest Ratios: P/E Ratio 32.5x · EV/EBITDA 13.1x · ROE 18.3%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $68.4B | $66.1B | $63.3B | $52.2B | $40.9B | $44.5B | $30.8B | $28.9B | $23.7B | $22.9B | $19.6B |
| Enterprise Value | $69.0B | $66.6B | $76.2B | $65.2B | $52.8B | $54.3B | $39.9B | $37.8B | $31.9B | $31.0B | $27.2B |
| P/E Ratio → | 32.48 | 30.94 | 31.00 | 30.15 | 27.50 | 34.52 | 31.89 | 26.92 | 22.81 | 17.93 | 32.05 |
| P/S Ratio | 4.13 | 3.98 | 3.95 | 3.49 | 3.03 | 3.94 | 3.03 | 2.80 | 2.36 | 2.28 | 2.09 |
| P/B Ratio | 5.80 | 5.52 | 5.55 | 4.95 | 4.22 | 4.96 | 3.63 | 3.55 | 2.99 | 2.88 | 2.55 |
| P/FCF | 28.41 | 27.44 | 30.43 | 26.29 | 23.56 | 30.29 | 24.12 | 25.21 | 20.22 | 24.89 | 21.36 |
| P/OCF | 15.93 | 15.39 | 16.09 | 14.43 | 12.82 | 15.98 | 12.46 | 12.27 | 10.56 | 12.00 | 10.63 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.02 | 4.75 | 4.35 | 3.91 | 4.81 | 3.93 | 3.67 | 3.18 | 3.09 | 2.90 |
| EV / EBITDA | 13.14 | 12.69 | 15.22 | 14.66 | 13.71 | 16.17 | 13.93 | 12.77 | 11.10 | 11.18 | 10.15 |
| EV / EBIT | 20.76 | 21.03 | 25.56 | 23.94 | 23.82 | 28.93 | 26.73 | 22.39 | 18.72 | 18.85 | 20.13 |
| EV / FCF | — | 27.66 | 36.62 | 32.79 | 30.44 | 36.96 | 31.27 | 32.98 | 27.28 | 33.69 | 29.61 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.0% | 42.0% | 30.6% | 29.6% | 28.6% | 29.1% | 39.9% | 28.3% | 28.0% | 27.0% | 27.6% |
| Operating Margin | 20.0% | 20.0% | 20.1% | 19.0% | 17.9% | 18.5% | 16.8% | 17.8% | 17.6% | 16.5% | 17.2% |
| Net Profit Margin | 12.9% | 12.9% | 12.7% | 11.6% | 11.0% | 11.4% | 9.5% | 10.4% | 10.3% | 12.7% | 6.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.3% | 18.3% | 18.6% | 17.1% | 15.9% | 14.8% | 11.6% | 13.4% | 13.1% | 16.3% | 7.9% |
| ROA | 6.4% | 6.4% | 6.4% | 5.7% | 5.5% | 5.3% | 4.2% | 4.8% | 4.8% | 6.1% | 3.0% |
| ROIC | 13.5% | 13.5% | 10.1% | 9.5% | 9.0% | 8.6% | 7.4% | 8.3% | 8.2% | 7.9% | 7.9% |
| ROCE | 11.3% | 11.3% | 11.6% | 10.8% | 10.0% | 9.6% | 8.4% | 9.5% | 9.4% | 8.9% | 8.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 1.14 | 1.24 | 1.25 | 1.09 | 1.08 | 1.10 | 1.05 | 1.03 | 1.00 |
| Debt / EBITDA | 0.11 | 0.11 | 2.59 | 2.94 | 3.14 | 2.92 | 3.20 | 3.03 | 2.90 | 2.95 | 2.86 |
| Net Debt / Equity | — | 0.04 | 1.13 | 1.23 | 1.23 | 1.09 | 1.08 | 1.10 | 1.04 | 1.02 | 0.99 |
| Net Debt / EBITDA | 0.10 | 0.10 | 2.57 | 2.91 | 3.10 | 2.92 | 3.19 | 3.01 | 2.87 | 2.92 | 2.83 |
| Debt / FCF | — | 0.22 | 6.19 | 6.51 | 6.88 | 6.67 | 7.15 | 7.78 | 7.06 | 8.80 | 8.25 |
| Interest Coverage | 5.52 | 5.52 | 5.42 | 5.14 | 5.74 | 6.19 | 4.25 | 4.32 | 4.43 | 4.52 | 3.49 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.64 | 0.64 | 0.58 | 0.56 | 0.70 | 0.71 | 0.67 | 0.53 | 0.58 | 0.55 | 0.71 |
| Quick Ratio | 0.64 | 0.64 | 0.56 | 0.54 | 0.67 | 0.68 | 0.64 | 0.51 | 0.56 | 0.53 | 0.68 |
| Cash Ratio | 0.09 | 0.09 | 0.02 | 0.03 | 0.04 | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 | 0.04 |
| Asset Turnover | — | 0.48 | 0.49 | 0.48 | 0.47 | 0.45 | 0.43 | 0.45 | 0.46 | 0.47 | 0.46 |
| Inventory Turnover | — | — | 113.61 | 107.57 | 99.86 | 110.89 | 103.22 | 130.09 | 136.13 | 143.11 | 154.55 |
| Days Sales Outstanding | — | 41.73 | 47.15 | 48.59 | 53.57 | 48.74 | 47.75 | 49.71 | 49.10 | 44.24 | 42.48 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.1% | 1.1% | 1.1% | 1.2% | 1.4% | 1.2% | 1.7% | 1.7% | 2.0% | 1.9% | 2.1% |
| Payout Ratio | 34.5% | 34.5% | 33.6% | 36.9% | 39.9% | 42.8% | 54.0% | 45.8% | 44.5% | 34.5% | 68.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 3.2% | 3.2% | 3.3% | 3.6% | 2.9% | 3.1% | 3.7% | 4.4% | 5.6% | 3.1% |
| FCF Yield | 3.5% | 3.6% | 3.3% | 3.8% | 4.2% | 3.3% | 4.1% | 4.0% | 4.9% | 4.0% | 4.7% |
| Buyback Yield | 1.3% | 1.3% | 0.8% | 0.5% | 0.5% | 0.6% | 0.3% | 1.4% | 3.1% | 2.7% | 2.1% |
| Total Shareholder Yield | 2.3% | 2.4% | 1.8% | 1.7% | 1.9% | 1.8% | 2.0% | 3.1% | 5.1% | 4.6% | 4.2% |
| Shares Outstanding | — | $312M | $315M | $317M | $317M | $319M | $320M | $322M | $328M | $339M | $344M |
Regulatory landfill compliance costs
Based on current market data, Republic Services trades at a forward P/E of 29.70, which suggests investors are paying a significant premium for the company's defensive revenue streams and localized landfill monopolies compared to broader industrial peers that lack similar structural barriers to entry.
The current valuation multiple appears to price in a high degree of earnings certainty, yet the PEG ratio of 1.77 indicates that the market may be overpaying for growth if the recent deceleration in top-line expansion persists. Investors should monitor whether this premium remains sustainable as the company integrates higher-risk environmental services into its traditional, stable waste collection model.
According to reported financial statements, ROIC has remained in a narrow range between 2.3% and 5.0% over the last ten quarters, indicating that the company's aggressive acquisition strategy has significantly diluted the returns generated on its underlying physical asset base.
The persistent gap between ROIC and the company's cost of capital warrants further investigation, as it suggests that the value created by landfill route density is being partially offset by the high premiums paid for acquired businesses. This trend implies that management must improve the organic integration of recent acquisitions to drive meaningful improvement in capital efficiency.
As indicated by the quarterly data, Republic Services maintains a tight cash conversion cycle, with DSO consistently hovering around 42 to 46 days, reflecting the company's ability to leverage its dominant market position to enforce favorable payment terms with its diverse municipal and commercial customer base.
The stability in DSO suggests that the company's billing and collection processes are highly effective, which is critical for maintaining liquidity in a capital-intensive industry. However, the variability in DPO and DIO suggests that working capital management remains sensitive to the timing of large-scale environmental remediation projects and fleet maintenance cycles.
Based on the most recent quarterly filings, the reported debt-to-equity ratio plummeted to 0.05% in 2026Q1 from historical levels exceeding 1.0, a shift that appears highly anomalous and necessitates immediate clarification to determine if this reflects actual debt retirement or a significant accounting reclassification.
If this deleveraging is not supported by a corresponding reduction in interest expense, it may indicate a reporting error or a change in how the company accounts for its long-term landfill closure liabilities. Investors should exercise extreme caution until the company provides a clear reconciliation of this sudden change in its capital structure.
The P/E ratio is frequently misapplied to Republic Services because it fails to account for the massive non-cash depreciation charges associated with landfill depletion, which artificially suppresses reported net income and makes the company appear more expensive than its actual cash-generating capacity suggests.
Analysts should prioritize EV/EBITDA or P/FCF over P/E to better capture the true economic performance of the business, as these metrics normalize for the accounting-heavy nature of landfill asset management. Relying solely on P/E obscures the company's ability to generate significant free cash flow despite the high depreciation burden.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying RSG stock.
Republic Services, Inc.'s current P/E ratio is 32.5x. The historical average is 24.6x. This places it at the 93th percentile of its historical range.
Republic Services, Inc.'s current EV/EBITDA is 13.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Republic Services, Inc.'s return on equity (ROE) is 18.3%. The historical average is 12.1%.
Based on historical data, Republic Services, Inc. is trading at a P/E of 32.5x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Republic Services, Inc.'s current dividend yield is 1.06% with a payout ratio of 34.5%.
Republic Services, Inc. has 42.0% gross margin and 20.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Republic Services, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.