RSG REPUBLIC SERVICES, INC.

Overview and Growth

Fiscal 2025 results for REPUBLIC SERVICES, INC. combined $19.03B of revenue with net income of $2.14B and an operating cash inflow of $4.30B. The $19.03B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 3.3% above fiscal 2024 revenue of $18.42B, marking a year-over-year increase. The company reported diluted EPS of $6.85, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS increased by 5.5% from $6.49 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis.

Profitability

The first profit layer was $9.40B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 49.4%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced $3.30B of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 17.4% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. Net income came to $2.14B, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 11.2% of revenue, connecting the absolute net income figure with the company’s top-line scale. Pretax income was $2.59B, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 13.6% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $455.00M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 17.5%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

At period end, the $34.37B asset base was financed through $22.40B of liabilities and $11.97B of equity. Current assets were $2.52B against $3.93B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.64x of current liabilities, so current liabilities exceeded current assets at period end. Reported cash and equivalents were $76.00M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 1.9%, excluding receivables and other current assets. Borrowings totaled $13.71B, adding a fixed financing obligation alongside the company’s equity capital. Debt equaled 1.15x of book equity, describing the relative scale of borrowing and shareholder capital. The debt-to-assets relationship was 39.9%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 65.2%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 0.2% of total assets, showing the liquid cash component within the company’s broader resource base.

Cash Flow and Earnings Quality

Cash flow from operations was $4.30B, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 2.01x of net income, showing how strongly accounting earnings converted into cash from operations. Capital spending was $1.89B, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 43.9%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $2.41B of positive free cash flow for the period. Free cash flow represented 12.7% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 7.0% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.