Republic Services (RSG)


Market Price (10/15/2026): $225.98 | Market Cap: $69.5 BilInvestor Relations Sector: Industrials | Industry: Environmental & Facilities Services

Republic Services (RSG)


Market Price (10/15/2026): $225.98
Market Cap: $69.5 Bil
Sector: Industrials
Industry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 4.5 Bil, FCF LTM is 2.7 Bil

Stock buyback support
Stock Buyback 3Y Total is 2.3 Bil

Low stock price volatility
Vol 12M is 19%

Megatrend and thematic drivers
Megatrends include Sustainable Infrastructure, Circular Economy & Recycling, and Sustainable Resource Management. Themes include Waste Management Solutions, Show more.

Trading close to highs
Dist 52W High is -2.5%

Weak multi-year price returns
2Y Excs Rtn is -23%, 3Y Excs Rtn is -22%

Key risks
RSG key risks include [1] disruptive and costly labor strikes in multiple key regions.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 4.5 Bil, FCF LTM is 2.7 Bil
1 Stock buyback support
Stock Buyback 3Y Total is 2.3 Bil
2 Low stock price volatility
Vol 12M is 19%
3 Megatrend and thematic drivers
Megatrends include Sustainable Infrastructure, Circular Economy & Recycling, and Sustainable Resource Management. Themes include Waste Management Solutions, Show more.
4 Trading close to highs
Dist 52W High is -2.5%
5 Weak multi-year price returns
2Y Excs Rtn is -23%, 3Y Excs Rtn is -22%
6 Key risks
RSG key risks include [1] disruptive and costly labor strikes in multiple key regions.

RSG in ETFs

Weight = RSG's share of each fund

SPY0.06%
VOO0.07%
IVV0.06%
VTI0.06%
ITOT0.06%
IWB0.06%
RSP0.20%
VTV0.16%
+26 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/12/2026

Republic Services (RSG) stock has gained about 5% since 6/30/2026 because of the following key factors:

1. Robust Q2 fiscal year 2026 earnings outperformed expectations and led to raised full-year guidance.

Republic Services reported strong financial results for its Q2 fiscal year 2026, which ended June 30, 2026. The company announced adjusted earnings per share (EPS) of $1.85, surpassing analyst consensus estimates of $1.82. Revenue also exceeded forecasts, reaching $4.43 billion against an estimated $4.36 billion, marking a 4.6% year-over-year increase. Following this performance, Republic Services raised its full-year 2026 guidance, projecting revenue between $17.2 billion and $17.3 billion, adjusted EBITDA of $5.525 billion to $5.55 billion, and EPS from $7.23 to $7.28. This positive financial outlook and strong core pricing, which remained at 5.3% on total revenue, fueled investor confidence. The stock gained +2.37% on August 6, 2026, the day these results were reported.

2. Significant insider buying by major shareholder Cascade Investment LLC demonstrated strong conviction.

Cascade Investment LLC, associated with Bill Gates and a 10% owner, made substantial open-market purchases of Republic Services stock during the period. On August 26-27, 2026, Cascade Investment LLC acquired 560,100 shares at weighted-average prices ranging from approximately $219 to $222 per share. Additionally, on September 1-2, 2026, further purchases included 204,800 shares at $222.68 (valued at approximately $45.6 million) and 329,200 shares at $223.27 (valued at approximately $73.5 million). These transactions represent a significant vote of confidence from a major insider, well exceeding the $5 million threshold.

Show more
Updated on 10/12/2026

Republic Services (RSG) stock has gained about 5% since 6/30/2026 because of the following key factors:

1. Robust Q2 fiscal year 2026 earnings outperformed expectations and led to raised full-year guidance.

Republic Services reported strong financial results for its Q2 fiscal year 2026, which ended June 30, 2026. The company announced adjusted earnings per share (EPS) of $1.85, surpassing analyst consensus estimates of $1.82. Revenue also exceeded forecasts, reaching $4.43 billion against an estimated $4.36 billion, marking a 4.6% year-over-year increase. Following this performance, Republic Services raised its full-year 2026 guidance, projecting revenue between $17.2 billion and $17.3 billion, adjusted EBITDA of $5.525 billion to $5.55 billion, and EPS from $7.23 to $7.28. This positive financial outlook and strong core pricing, which remained at 5.3% on total revenue, fueled investor confidence. The stock gained +2.37% on August 6, 2026, the day these results were reported.

2. Significant insider buying by major shareholder Cascade Investment LLC demonstrated strong conviction.

Cascade Investment LLC, associated with Bill Gates and a 10% owner, made substantial open-market purchases of Republic Services stock during the period. On August 26-27, 2026, Cascade Investment LLC acquired 560,100 shares at weighted-average prices ranging from approximately $219 to $222 per share. Additionally, on September 1-2, 2026, further purchases included 204,800 shares at $222.68 (valued at approximately $45.6 million) and 329,200 shares at $223.27 (valued at approximately $73.5 million). These transactions represent a significant vote of confidence from a major insider, well exceeding the $5 million threshold.

3. Positive analyst sentiment and price target adjustments contributed to a favorable outlook.

Throughout the period, numerous Wall Street analysts maintained optimistic ratings and upwardly revised price targets for Republic Services. For example, Citigroup increased its price target from $247.00 to $259.00 with a "Buy" rating on July 10, 2026. The average analyst price target for Republic Services over the past three months stands at $245.00, suggesting an upside potential of 12.97% from the stock's October 9, 2026, closing price of $216.88. The consensus rating among 20 Wall Street analysts is a "Moderate Buy," with 15 "Buy" ratings and 12 "Hold" ratings in the current month.

4. Favorable macroeconomic and industry trends provided a supportive environment.

The waste management sector, in which Republic Services operates, continues to exhibit resilient growth drivers. The global waste management market is projected to expand from an estimated $1.6 trillion in 2026 to $2.4 trillion by 2033, growing at a compound annual growth rate of 6.0%. This growth is underpinned by increasing urbanization, industrialization, and stricter government regulations regarding waste disposal and recycling. The industry also benefits from strong pricing power, with waste pricing consistently running above inflation as operators leverage their capabilities to implement price increases across services. Republic Services' strategic initiatives in recycling infrastructure and fleet electrification also align with broader sustainability trends, which are increasingly valued by the market.

Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →

Stock Movement Drivers

Fundamental Drivers

The 6.0% change in RSG stock from 6/30/2026 to 10/14/2026 was primarily driven by a 4.7% change in the company's P/E Multiple.
(LTM values as of)630202610142026Change
Stock Price ($)211.77224.446.0%
Change Contribution By: 
Total Revenues ($ Mil)16,69516,8901.2%
Net Income Margin (%)13.0%12.9%-0.4%
P/E Multiple30.231.64.7%
Shares Outstanding (Mil)3093080.5%
Cumulative Contribution6.0%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/14/2026
ReturnCorrelation
RSG6.0% 
Market (SPY)3.1%-33.5%
Sector (XLI)-9.8%-25.6%

Fundamental Drivers

The 3.4% change in RSG stock from 3/31/2026 to 10/14/2026 was primarily driven by a 1.8% change in the company's Total Revenues ($ Mil).
(LTM values as of)331202610142026Change
Stock Price ($)217.06224.443.4%
Change Contribution By: 
Total Revenues ($ Mil)16,59116,8901.8%
Net Income Margin (%)12.9%12.9%0.3%
P/E Multiple31.431.60.5%
Shares Outstanding (Mil)3103080.7%
Cumulative Contribution3.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/14/2026
ReturnCorrelation
RSG3.4% 
Market (SPY)18.6%-39.7%
Sector (XLI)3.5%-20.5%

Fundamental Drivers

The -0.7% change in RSG stock from 9/30/2025 to 10/14/2026 was primarily driven by a -5.3% change in the company's P/E Multiple.
(LTM values as of)930202510142026Change
Stock Price ($)226.13224.44-0.7%
Change Contribution By: 
Total Revenues ($ Mil)16,36616,8903.2%
Net Income Margin (%)13.0%12.9%-0.3%
P/E Multiple33.331.6-5.3%
Shares Outstanding (Mil)3133081.8%
Cumulative Contribution-0.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/14/2026
ReturnCorrelation
RSG-0.7% 
Market (SPY)16.5%-25.4%
Sector (XLI)9.3%-11.7%

Fundamental Drivers

The 62.9% change in RSG stock from 9/30/2023 to 10/14/2026 was primarily driven by a 18.5% change in the company's Net Income Margin (%).
(LTM values as of)930202310142026Change
Stock Price ($)137.74224.4462.9%
Change Contribution By: 
Total Revenues ($ Mil)14,43416,89017.0%
Net Income Margin (%)10.9%12.9%18.5%
P/E Multiple27.731.614.0%
Shares Outstanding (Mil)3173083.0%
Cumulative Contribution62.9%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/14/2026
ReturnCorrelation
RSG62.9% 
Market (SPY)86.2%14.1%
Sector (XLI)71.3%18.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
RSG Return47%-6%30%23%6%5%146%
Peers Return35%-4%22%23%1%2%98%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
RSG Win Rate67%42%58%67%58%50% 
Peers Win Rate67%45%57%57%52%56% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
RSG Max Drawdown-8%-17%-9%-8%-20%-15% 
Peers Max Drawdown-13%-26%-19%-13%-22%-20% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: WM, WCN, CLH, GFL, CWST. See RSG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/14/2026 (YTD)

How Low Can It Go

EventRSGS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-14.4%-24.5%
  % Gain to Breakeven16.8%32.4%
  Time to Breakeven43 days427 days
2020 COVID-19 Crash
  % Loss-33.8%-33.7%
  % Gain to Breakeven51.0%50.9%
  Time to Breakeven231 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-18.2%-17.9%
  % Gain to Breakeven22.3%21.8%
  Time to Breakeven21 days123 days
2008-2009 Global Financial Crisis
  % Loss-49.4%-53.4%
  % Gain to Breakeven97.7%114.4%
  Time to Breakeven400 days1085 days

Compare to WM, WCN, CLH, GFL, CWST

In The Past

Republic Services's stock fell -0.8% during the 2025 US Tariff Shock. Such a loss loss requires a 0.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventRSGS&P 500
2020 COVID-19 Crash
  % Loss-33.8%-33.7%
  % Gain to Breakeven51.0%50.9%
  Time to Breakeven231 days140 days
2008-2009 Global Financial Crisis
  % Loss-49.4%-53.4%
  % Gain to Breakeven97.7%114.4%
  Time to Breakeven400 days1085 days

Compare to WM, WCN, CLH, GFL, CWST

In The Past

Republic Services's stock fell -0.8% during the 2025 US Tariff Shock. Such a loss loss requires a 0.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Republic Services (RSG)

Republic Services, Inc. (RSG) is a prominent environmental services company operating throughout the United States. The company specializes in comprehensive waste management, offering a full suite of services for the collection, processing, transfer, and disposal of non-hazardous solid waste and recyclable materials. Essentially, Republic Services provides critical infrastructure and solutions to manage waste and recycling streams for communities and businesses nationwide.

The core products and services provided by Republic Services include curbside collection of waste and recyclable materials, supplying various waste and recycling containers, and renting compactors. Beyond collection, the company operates an extensive network of facilities, including transfer stations, active landfills, and recycling processing centers where it processes and sells commodities like corrugated containers, newsprint, aluminum, and glass. Additionally, Republic Services offers specialized services such as the disposal of non-hazardous solid and liquid materials, as well as in-plant transportation and logistics services for industrial clients. The company also invests in environmental sustainability through landfill gas-to-energy and other renewable energy projects.

Republic Services serves a broad and diverse customer base. Its primary customers include residential households that require curbside waste and recycling pickup, small businesses utilizing compactors and small containers, and large commercial or industrial clients that generate substantial waste and often require specialized logistics and disposal solutions. With operations across 41 states, Republic Services plays a vital role in providing essential environmental services to communities and enterprises across a significant portion of the U.S. market.

AI Analysis | Feedback

```html
  • It's like a public utility company, similar to your electric or water provider, but for managing all of America's garbage and recycling.
  • Imagine a massive logistics and infrastructure operation, like a nationwide FedEx or UPS, but specializing in collecting, transporting, and processing non-hazardous waste and recyclable materials instead of packages.
```

AI Analysis | Feedback

```html
  • Solid Waste Collection, Transfer, and Disposal: Collection, transfer, and disposal services for non-hazardous solid and liquid waste, including curbside pickup and landfill operations.
  • Recycling Services: Collection, processing, and sale of recyclable materials such as corrugated containers, newsprint, aluminum, glass, and other commodities.
  • Container and Compactor Rental: Provision of recycling and waste containers, as well as compactors, for customer use.
  • Specialized Environmental Solutions: Offers in-plant services, transportation, logistics, and management of specialized waste streams through facilities like saltwater disposal wells and deep injection wells.
```

AI Analysis | Feedback

Republic Services (RSG) serves a diverse customer base, which can be categorized as follows:

  • Residential Customers: This category includes individual households that utilize Republic Services for curbside collection of waste and recyclable materials.
  • Small-Container Commercial Customers: These are typically small businesses, retail establishments, and offices that require smaller waste and recycling containers.
  • Large-Container Commercial Customers: This category encompasses larger businesses, industrial facilities, and construction sites that generate higher volumes of waste and require larger containers, compactors, and in-plant services.

AI Analysis | Feedback

null

AI Analysis | Feedback

Jon Vander Ark, President | Chief Executive Officer

Jon Vander Ark became President and Chief Executive Officer of Republic Services in June 2021. He joined the company in 2013 as executive vice president and chief marketing officer. He subsequently held roles including executive vice president of operations, chief operating officer, and president from 2019 to June 2021, overseeing operations, sales, marketing, business development, safety, engineering, environmental compliance, and fleet management. Prior to Republic Services, he was a partner at McKinsey & Company, where he advised clients in transportation, logistics, manufacturing, and consumer products. Mr. Vander Ark holds a Juris Doctorate from Harvard Law School. He also serves on the board of directors of Lennox International, Inc. and Chances for Children.

Brian DelGhiaccio, EVP, Chief Financial Officer

Brian DelGhiaccio is the Executive Vice President and Chief Financial Officer for Republic Services, a position he assumed in 2020. He joined Republic Services in 1998 and has held various roles of increasing responsibility across the finance organization, including assistant corporate controller, senior director of Financial Planning & Analysis, vice president of Investor Relations, senior vice president of finance, and executive vice president and chief transformation officer. Before joining Republic Services, he worked as a Senior Consultant with Arthur Andersen. Mr. DelGhiaccio earned Bachelor of Science degrees in Accounting and Finance from the University of Arizona. He currently serves on the Board of Directors of Aramark.

Gregg Brummer, EVP, Chief Operating Officer

Gregg Brummer serves as the Executive Vice President and Chief Operating Officer of Republic Services.

Catharine Ellingsen, EVP, Chief Legal Officer, Chief Ethics and Compliance Officer and Corporate Secretary

Catharine Ellingsen is the Executive Vice President, Chief Legal Officer, Chief Ethics and Compliance Officer, and Corporate Secretary for Republic Services. She is responsible for the company's legal affairs and ethics & compliance program.

Amanda Hodges, EVP, Chief Commercial Officer

Amanda Hodges holds the title of Executive Vice President, Chief Commercial Officer at Republic Services.

AI Analysis | Feedback

Republic Services (RSG) faces several key risks inherent to the environmental services industry and its specific operations:

  1. Regulatory and Environmental Compliance Risks: The waste management sector is highly regulated, meaning Republic Services is exposed to significant risks from evolving environmental regulations and enforcement. Changes in areas such as recycling mandates, landfill permitting, rules regarding PFAS (per- and polyfluoroalkyl substances), or renewable natural gas (RNG) credit regimes can materially alter project economics and increase compliance costs. Furthermore, the company faces ongoing legal and reputational risks associated with its landfill operations, including potential issues with gas emissions and groundwater contamination. A recent example includes a $3.01 million fine issued against a Republic Services subsidiary for multiple air quality violations at a landfill in Oregon, highlighting the tangible financial and operational impact of regulatory non-compliance. Increasing environmental, social, and governance (ESG) scrutiny and environmental justice concerns also contribute to these regulatory and reputational pressures, potentially affecting the company's ability to secure and retain contracts.

  2. Economic Sensitivity and Commodity Price Volatility: Republic Services' financial performance is sensitive to economic fluctuations and the cyclical nature of recycled commodity prices. The company's industrial and commercial waste collection volumes can decline during economic slowdowns, directly impacting revenue and growth. Its recycling operations are particularly vulnerable to volatility in the prices of recovered materials such as old corrugated containers, newsprint, aluminum, and glass. Declines in these commodity prices can reduce revenue and negatively affect margins from its recycling processing centers. Additionally, a decrease in non-recurring, event-driven volumes (e.g., large-scale clean-up efforts) can create significant headwinds for revenue comparisons year-over-year.

  3. Operational Risks, including Safety and Labor Disruptions: The waste management industry is recognized as one of the most hazardous sectors, with high rates of fatal and non-fatal injuries stemming from activities like manual handling, traffic incidents involving collection vehicles, exposure to harmful materials, and falls from height. Poor safety performance not only poses risks to employee well-being but also leads to financial consequences such as lost workdays, increased staff turnover, higher insurance premiums, and potential damage to the company's reputation. The company also faces risks from labor disruptions, which have had a financial impact in the past. Furthermore, the inherent operational challenges of managing extensive infrastructure (including 198 active landfills and 239 transfer stations) require substantial capital expenditure and are increasingly susceptible to climate change hazards like extreme heat and increased precipitation, which can disrupt services, diminish productivity, and damage facilities.

AI Analysis | Feedback

null

AI Analysis | Feedback

Republic Services (RSG) operates within several key environmental services markets in the United States. Based on its primary offerings, the addressable markets include solid waste management, waste recycling services, hazardous waste management, and landfill gas-to-energy projects.

  • U.S. Solid Waste Management Market: This market, which includes the collection, transfer, and disposal of non-hazardous solid waste, was estimated at USD 156.3 billion in 2024. It is anticipated to grow to USD 247.5 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 5.3% from 2025 to 2033.
  • U.S. Waste Recycling Services Market: The market for waste recycling services in the U.S. was valued at USD 13.8 billion in 2024 and is projected to reach USD 21.92 billion by 2032.
  • U.S. Hazardous Waste Management Market: The hazardous waste management market in the United States generated revenue of USD 4,660.1 million in 2025 and is expected to reach USD 7,257.5 million by 2033.
  • U.S. Landfill Gas to Renewable Natural Gas Market: The revenue for the U.S. landfill gas to renewable natural gas industry was estimated at USD 11.65 billion in 2023. It is projected to grow at a CAGR of 5.8% from 2023 to 2033.

AI Analysis | Feedback

Republic Services (RSG) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic initiatives and ongoing operational strengths.

Here are 3-5 expected drivers of future revenue growth:

  • Price Increases (Average Yield): Republic Services consistently leverages pricing strategies to grow revenue. The company anticipates growth from average yield on total revenue to be in a range of 3.2% to 3.7% in 2026, and average yield on related business revenue is expected to be in a range of 4.0% to 4.5%. This follows core price increases on total revenue of 5.8% in Q4 2025 and 5.9% for the full year 2025.
  • Strategic Acquisitions: Acquisitions remain a key component of Republic Services' growth strategy. The company plans to invest approximately $1 billion in value-creating acquisitions in 2026, building on the $1.1 billion invested in acquisitions during 2025. These acquisitions contribute to expanding their business across recycling, waste, and environmental solutions.
  • Growth in Environmental Solutions: Despite a temporary organic decline in Q4 2025 due to a non-recurring emergency response project in 2024, the Environmental Solutions business is a focus for continued expansion. Republic Services' acquisition pipeline supports ongoing activity in this segment, indicating a strategic intent to grow these offerings.
  • Increased Recycling Processing and Volumes: Investments in the recycling business contribute to revenue growth. Initiatives such as increased volumes at polymer centers and the reopening of a recycling center on the West Coast are expected to offset impacts from fluctuating commodity prices, driving revenue through enhanced processing capabilities and volumes.

AI Analysis | Feedback

Share Repurchases

  • In 2025, Republic Services returned $1.6 billion to shareholders, including $854 million in share repurchases.
  • The company returned $900 million to shareholders through dividends and share repurchases in 2023.
  • In 2021, Republic Services returned $805 million to shareholders, which included share repurchases.

Outbound Investments

  • Republic Services invested $1.1 billion in acquisitions in 2025.
  • The company expects to invest approximately $1 billion in acquisitions in 2026, with over $400 million already completed.
  • In 2022, Republic Services invested $2.7 billion in acquisitions, which included the significant acquisition of US Ecology.

Capital Expenditures

  • Capital expenditures were $1.887 billion in 2025.
  • In 2024, capital expenditures totaled $1.85 billion, primarily directed towards property, plant, equipment, and investments in renewable natural gas and recycling infrastructure.
  • The company reported annual capital expenditures of $1.631 billion in 2023.

Better Bets vs. Republic Services (RSG)

Peer Outperformance in Environmental & Facilities Services

RSG has outperformed 79% of its 29 Environmental & Facilities Services peers over 5Y. Among the peers that beat it are GEO and CLH. Environmental & Facilities Services ranks 14th of 23 industries in Industrials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Environmental & Facilities Services constituents that RSG has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
76%
of 33 industry peers · -0.2% return
3Y
77%
of 31 industry peers · 54.4% return
5Y
79%
of 29 industry peers · 85.0% return
Environmental & Facilities Services peers with revenue growth within 4pp of RSG's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
RSG Republic Services 5.4% 30.9x -0.2%54.4%85.0% —
GEO GEO 5.3% 14.4x 85.7%279.6%287.8% +203pp
CLH Clean Harbors 5.3% 38.2x 33.9%99.1%196.1% +111pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Environmental & Facilities Services is RSG's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Construction & Engineering 30 3.6%119.3%188.8% STRL 2085% · FIX 2015% · AGX 871%
Marine Transportation 5 67.8%60.9%150.4% MATX 189% · KEX 150%
Construction Machinery & Heavy Transportation Equipment 13 1.1%43.9%96.7% CAT 346% · ALSN 249% · WAB 230%
Aerospace & Defense 52 -14.0%52.9%55.7% ATI 1028% · FTAI 810% · HWM 602%
Rail Transportation 7 26.7%60.0%44.3% CSX 57% · UNP 46% · NSC 36%
Industrial Machinery & Supplies & Components 72 11.5%46.3%43.7% CRS 1127% · MLI 517% · SYM 317%
Trading Companies & Distributors 19 9.4%29.8%40.3% DXPE 466% · AIT 268% · URI 225%
Cargo Ground Transportation 16 36.9%1.7%33.7% XPO 298% · R 230% · ARCB 63%
Diversified Support Services 34 10.9%28.4%27.1% CXW 259% · OPLN 148% · CACI 120%
Electrical Components & Equipment 38 -3.5%69.8%19.9% POWL 2181% · BE 1093% · VRT 991%
Building Products 33 -12.3%9.1%16.9% GFF 343% · TT 198% · JCI 151%
Agricultural & Farm Machinery 17 10.2%-4.0%-3.1% DE 111% · TTC 12% · AGCO 0%
Industrial Conglomerates 17 9.7%5.4%-5.9% CSW 127% · DD 71% · CSL 67%
Environmental & Facilities Services ← 30 -37.4%16.6%-7.0% CECO 864% · GEO 288% · CLH 196%
Research & Consulting Services 13 -1.1%-27.2%-12.2% HURN 249% · BAH -1% · FCN -3%
Security & Alarm Services 9 -54.0%14.8%-19.4% BCO 77%
Office Services & Supplies 9 29.0%23.1%-21.7% PBI 192% · TILE 140% · HNI 48%
Data Processing & Outsourced Services 6 -28.2%-10.2%-23.6% EXLS 51% · BR 7% · G -21%
Passenger Ground Transportation 3 -24.2%62.7%-24.4% UBER 54% · CAR -24% · LYFT -69%
Passenger Airlines 11 5.2%19.6%-33.7% LTM 3045% · UAL 116% · DAL 101%
Air Freight & Logistics 12 -20.6%-27.4%-37.7% FDX 79% · EXPD 78% · CHRW 70%
Human Resource & Employment Services 22 8.1%-18.3%-42.4% ADP 50% · PAYX 6% · FA 3%
Airport Services 4 -70.5%-69.3%-80.9% JOBY -46%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

RSGWMWCNCLHGFLCWSTMedian
NameRepublic.Waste Ma.Waste Co.Clean Ha.GFL Envi.Casella . 
Mkt Price225.98216.60156.94319.2442.9782.20186.77
Mkt Cap69.5695.739.816.915.55.228.3
Rev LTM16,89025,6679,7646,2446,9721,9558,368
Op Inc LTM3,3824,7521,899739334941,319
FCF LTM2,6533,5731,167458210105812
FCF 3Y Avg2,3122,6171,19735815182778
CFO LTM4,5426,5172,5139031,4223511,967
CFO 3Y Avg4,1555,7682,3447961,3233071,833

Growth & Margins

RSGWMWCNCLHGFLCWSTMedian
NameRepublic.Waste Ma.Waste Co.Clean Ha.GFL Envi.Casella . 
Rev Chg LTM3.2%7.2%5.7%5.1%9.6%13.6%6.5%
Rev Chg 3Y Avg5.4%8.7%8.4%5.3%-1.6%20.6%6.9%
Rev Chg Q4.6%4.0%6.4%11.9%16.3%16.9%9.2%
QoQ Delta Rev Chg LTM1.2%1.0%1.6%3.1%4.1%4.2%2.3%
Op Inc Chg LTM1.2%11.0%9.1%13.5%20.4%-3.5%10.0%
Op Inc Chg 3Y Avg9.6%10.6%13.0%4.7%23.4%-2.6%10.1%
Op Mgn LTM20.0%18.5%19.5%11.8%4.8%4.8%15.2%
Op Mgn 3Y Avg19.9%18.7%19.1%11.4%4.1%5.8%15.1%
QoQ Delta Op Mgn LTM-0.0%0.1%0.0%0.6%-0.7%-0.1%0.0%
CFO/Rev LTM26.9%25.4%25.7%14.5%20.4%18.0%22.9%
CFO/Rev 3Y Avg25.5%24.5%25.7%13.4%19.8%17.9%22.1%
FCF/Rev LTM15.7%13.9%11.9%7.3%3.0%5.4%9.6%
FCF/Rev 3Y Avg14.2%11.0%13.2%6.0%2.3%4.7%8.5%

Valuation

RSGWMWCNCLHGFLCWSTMedian
NameRepublic.Waste Ma.Waste Co.Clean Ha.GFL Envi.Casella . 
Mkt Cap69.5695.739.816.915.55.228.3
P/S4.127.14.12.72.22.73.4
P/Op Inc20.5146.420.922.846.655.534.7
P/EBIT22.0153.523.022.167.673.745.3
P/E31.8243.937.538.4-68.3916.738.0
P/CFO15.3106.815.818.710.914.915.6
Total Yield4.3%0.6%3.5%2.6%-1.3%0.1%1.6%
Dividend Yield1.1%0.2%0.9%0.0%0.2%0.0%0.2%
FCF Yield 3Y Avg3.4%1.8%2.7%2.6%0.9%1.5%2.2%
D/E0.20.00.20.20.70.30.2
Net D/E0.20.00.20.10.60.30.2

Returns

RSGWMWCNCLHGFLCWSTMedian
NameRepublic.Waste Ma.Waste Co.Clean Ha.GFL Envi.Casella . 
1M Rtn0.4%-0.7%-2.5%-1.2%0.9%-9.6%-0.9%
3M Rtn4.3%-6.5%-7.6%5.2%10.4%-14.7%-1.1%
6M Rtn7.8%-2.9%-1.4%7.8%10.3%0.8%4.3%
12M Rtn1.9%1.0%-8.3%35.3%-5.7%-8.6%-2.4%
3Y Rtn58.7%42.8%16.0%100.3%42.3%6.4%42.5%
1M Excs Rtn-1.3%-3.2%-4.5%-2.6%-1.0%-11.9%-2.9%
3M Excs Rtn-2.7%-13.8%-13.4%-0.8%4.8%-21.4%-8.0%
6M Excs Rtn-3.4%-14.1%-12.5%-3.3%-0.9%-10.4%-6.9%
12M Excs Rtn-14.9%-15.9%-25.3%17.4%-22.9%-25.8%-19.4%
3Y Excs Rtn-21.2%-36.4%-63.5%14.7%-47.5%-74.6%-41.9%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Recycling and waste business operating primarily in geographic areas located in the western United8,6308,1307,5737,1076,511
Recycling and waste business operating primarily in geographic areas located in the southeastern and8,2448,0847,7567,0296,338
Environmental solutions1,7841,8601,6971,262242
Corporate entities and other369344253247230
Intercompany Revenue-2,436-2,386-2,314-2,134-2,026
Total16,59116,03214,96513,51111,295


Operating Income by Segment
$ Mil20242021202020192018
Recycling and waste business operating primarily in geographic areas located in the western United2,3531,4961,3431,2321,157
Recycling and waste business operating primarily in geographic areas located in the southeastern and2,1901,136967926938
Environmental solutions436    
Corporate entities and other0-555-601-371-360
Accretion-107    
Depreciation, depletion and amortization-1,677    
Total3,1952,0761,7091,7871,736


Assets by Segment
$ Mil20252024202320222021
Recycling and waste business operating primarily in geographic areas located in the western United14,44113,97813,39712,41812,199
Recycling and waste business operating primarily in geographic areas located in the southeastern and11,61611,31811,25610,5289,927
Environmental solutions5,2174,4624,4714,0901,212
Corporate entities and other3,0922,6442,2862,0171,617
Total34,36632,40231,41029,05324,955


Price Behavior

Price Behavior
Market Price$224.44 
Market Cap ($ Bil)69.0 
First Trading Date07/01/1998 
Distance from 52W High-2.5% 
   50 Days200 Days
DMA Price$216.88$214.07
DMA Trendindeterminateindeterminate
Distance from DMA3.5%4.8%
 3M1YR
Volatility17.3%19.3%
Downside Capture-19.00-45.99
Upside Capture-25.07-37.34
Correlation (S&P 500)-22.3%-23.5%
RSG Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.09-0.15-0.66-0.69-0.380.16
Up Beta-1.08-0.90-1.07-0.74-0.500.26
Down Beta-0.780.02-0.35-0.180.010.17
Up Capture-18%5%-51%-47%-25%4%
Bmk +ve Days6162766132424
Stock +ve Days6182754119412
Down Capture73%10%-68%-130%-81%5%
Bmk -ve Days16263760120328
Stock -ve Days16243772133339

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RSG
RSG1.8%19.3%-0.04-
Sector ETF (XLI)11.3%17.2%0.45-11.8%
Equity (SPY)17.1%12.7%0.96-24.7%
Gold (GLD)-0.6%29.4%-0.02-13.5%
Commodities (DBC)49.3%20.7%1.828.0%
Real Estate (VNQ)5.7%13.7%0.1532.7%
Bitcoin (BTCUSD)-27.9%43.7%-0.63-13.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RSG
RSG14.1%18.5%0.60-
Sector ETF (XLI)12.4%17.6%0.5335.7%
Equity (SPY)13.6%17.1%0.6032.7%
Gold (GLD)17.9%18.9%0.763.0%
Commodities (DBC)10.0%19.5%0.396.8%
Real Estate (VNQ)1.2%18.8%-0.0544.0%
Bitcoin (BTCUSD)8.5%51.8%0.347.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RSG
RSG18.1%19.3%0.81-
Sector ETF (XLI)13.0%20.0%0.5755.7%
Equity (SPY)15.4%17.9%0.7353.4%
Gold (GLD)12.0%16.4%0.603.2%
Commodities (DBC)8.2%18.1%0.3713.4%
Real Estate (VNQ)4.8%20.7%0.1957.9%
Bitcoin (BTCUSD)63.5%66.2%1.0310.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity4.8 Mil
Short Interest: % Change Since 9152026-2.6%
Average Daily Volume1.6 Mil
Days-to-Cover Short Interest2.9 days
Basic Shares Quantity307.5 Mil
Short % of Basic Shares1.6%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20262.4%2.7%6.3%
5/7/2026-0.8%3.5%1.7%
2/17/2026-2.0%-0.2%0.4%
10/30/2025-0.8%-2.7%1.3%
7/29/2025-5.8%-5.7%-4.5%
4/24/20251.2%3.6%5.0%
2/13/20253.1%2.8%5.0%
10/29/2024-2.7%-1.1%6.8%
...
SUMMARY STATS   
# Positive131219
# Negative11125
Median Positive2.4%2.8%3.8%
Median Negative-2.0%-1.8%-3.4%
Max Positive5.0%5.9%9.7%
Max Negative-5.8%-7.2%-5.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20262.4%2.7%6.3%
5/7/2026-0.8%3.5%1.7%
2/17/2026-2.0%-0.2%0.4%
10/30/2025-0.8%-2.7%1.3%
7/29/2025-5.8%-5.7%-4.5%
4/24/20251.2%3.6%5.0%
2/13/20253.1%2.8%5.0%
10/29/2024-2.7%-1.1%6.8%
7/24/2024-5.2%-2.7%3.6%
4/30/2024-3.0%-1.6%-5.0%
2/27/20240.8%-0.4%3.8%
10/26/2023-0.0%3.9%9.7%
7/31/20230.6%-1.5%-3.4%
4/27/20235.0%5.9%2.5%
2/15/20233.3%2.3%3.9%
10/27/2022-1.1%-2.1%1.4%
8/4/20220.3%0.2%0.9%
5/5/20223.7%-2.0%2.2%
2/10/2022-4.4%-7.2%2.2%
10/28/20213.6%2.8%6.4%
7/29/20212.5%2.4%7.0%
5/5/20211.3%-1.4%-0.1%
2/22/2021-0.0%2.0%8.8%
11/5/20201.6%5.7%-0.7%
SUMMARY STATS   
# Positive131219
# Negative11125
Median Positive2.4%2.8%3.8%
Median Negative-2.0%-1.8%-3.4%
Max Positive5.0%5.9%9.7%
Max Negative-5.8%-7.2%-5.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202502/18/202610-K
09/30/202510/31/202510-Q
06/30/202507/30/202510-Q
03/31/202504/25/202510-Q
12/31/202402/14/202510-K
09/30/202410/30/202410-Q
06/30/202407/25/202410-Q
03/31/202405/01/202410-Q
12/31/202302/29/202410-K
09/30/202310/27/202310-Q
06/30/202308/01/202310-Q
03/31/202304/28/202310-Q
12/31/202202/23/202310-K
09/30/202210/28/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/08/202610-Q
12/31/202502/18/202610-K
09/30/202510/31/202510-Q
06/30/202507/30/202510-Q
03/31/202504/25/202510-Q
12/31/202402/14/202510-K
09/30/202410/30/202410-Q
06/30/202407/25/202410-Q
03/31/202405/01/202410-Q
12/31/202302/29/202410-K
09/30/202310/27/202310-Q
06/30/202308/01/202310-Q
03/31/202304/28/202310-Q
12/31/202202/23/202310-K
09/30/202210/28/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q
12/31/202102/11/202210-K
09/30/202110/29/202110-Q
06/30/202107/30/202110-Q
03/31/202105/06/202110-Q
12/31/202002/23/202110-K
09/30/202011/06/202010-Q
06/30/202008/07/202010-Q
03/31/202005/06/202010-Q
12/31/201902/14/202010-K
09/30/201910/31/201910-Q

Insider Activity

Updated 9/14/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Cascade, Investment, LlcDirectBuy9142026222.89324,81072,396,34426,090,955,973Form
2Cascade, Investment, LlcDirectBuy9142026222.30256,00056,909,27325,950,102,371Form
3Cascade, Investment, LlcDirectBuy9102026221.31311,30468,894,29925,777,519,576Form
4Cascade, Investment, LlcDirectBuy9102026221.49409,50090,698,74225,729,279,588Form
5Cascade, Investment, LlcDirectBuy9082026223.16365,03981,462,20925,832,327,649Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Cascade, Investment, LlcDirectBuy9142026222.89324,81072,396,34426,090,955,973Form
2Cascade, Investment, LlcDirectBuy9142026222.30256,00056,909,27325,950,102,371Form
3Cascade, Investment, LlcDirectBuy9102026221.31311,30468,894,29925,777,519,576Form
4Cascade, Investment, LlcDirectBuy9102026221.49409,50090,698,74225,729,279,588Form
5Cascade, Investment, LlcDirectBuy9082026223.16365,03981,462,20925,832,327,649Form
6Cascade, Investment, LlcDirectBuy9082026224.81370,26483,239,45725,941,355,507Form
7Cascade, Investment, LlcDirectBuy9032026223.27329,20073,500,69925,680,931,597Form
8Cascade, Investment, LlcDirectBuy9032026222.68204,80045,604,19125,539,310,593Form
9Cascade, Investment, LlcDirectBuy9012026221.94301,00066,803,52925,409,205,249Form
10Cascade, Investment, LlcDirectBuy9012026221.03251,40055,566,86225,238,611,890Form
11Cascade, Investment, LlcDirectBuy8282026219.52284,60062,475,59825,011,121,490Form
12Cascade, Investment, LlcDirectBuy8282026221.55275,50061,036,21525,178,940,078Form
13Cascade, Investment, LlcDirectBuy8262026221.88269,47759,791,49225,155,623,785Form
14Cascade, Investment, LlcDirectBuy8262026222.91301,63967,238,85125,212,546,240Form
15Cascade, Investment, LlcDirectBuy8242026220.34191,36142,164,92224,855,472,857Form
16Cascade, Investment, LlcDirectBuy8242026220.26208,92546,018,12724,804,205,523Form
17Cascade, Investment, LlcDirectBuy8202026222.51178,84439,795,27725,011,369,390Form
18Cascade, Investment, LlcDirectBuy8202026217.90200,12543,607,66124,454,017,132Form
19Cascade, Investment, LlcDirectBuy8182026214.92206,80044,445,92524,076,592,956Form
20Cascade, Investment, LlcDirectBuy8182026215.73149,25032,197,58224,122,375,609Form
21Cascade, Investment, LlcDirectBuy8142026215.81188,46040,671,94524,099,434,611Form
22Cascade, Investment, LlcDirectBuy8142026215.80174,50037,657,23224,057,499,553Form
23Cascade, Investment, LlcDirectBuy8122026216.32240,00051,917,37924,077,905,659Form
24Cascade, Investment, LlcDirectBuy8122026214.89261,66456,228,38423,866,644,933Form
25Volpe, Sandra M TrustSell6112026211.281,800380,30412,254Form
26Carlsen, ElyseCAODirectSell5202026216.3236077,877119,411Form
27Cascade, Investment, LlcDirectBuy5182026213.3160,70012,947,79823,635,379,797Form
28Cascade, Investment, LlcDirectBuy5182026208.93119,79525,028,95723,137,767,601Form
29Cascade, Investment, LlcDirectBuy5182026207.68307,50563,861,64122,973,927,019Form
30Cascade, Investment, LlcDirectBuy5132026202.24366,00074,020,86822,310,614,010Form
31Cascade, Investment, LlcDirectBuy5132026201.7855,00011,097,83722,185,581,623Form
32Cascade, Investment, LlcDirectBuy5132026197.1878,15015,409,61721,669,092,551Form
33Weymouth, Katharine DirectBuy12112025209.46478100,1221,202,300Form

Investor Activity (13F)

Updated Oct 15, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Ycg, LLC$42.5 Mil3.8%42TRIM -7.8%13F
Partners Group Holding AG$47.7 Mil3.5%50Hold13F
Unisphere Establishment$152.4 Mil1.3%50ADD +18.0%13F
Skye Global Management LP$43.9 Mil0.9%44ADD +10.2%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Unisphere Establishment$152.4 Mil1.3%50ADD +18.0%13F
Skye Global Management LP$43.9 Mil0.9%44ADD +10.2%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Heirloom Wealth Management$21.8 Mil5.0%43ExitedDec 31, 202513F
Ycg, LLC$42.5 Mil3.8%42TRIM -7.8%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Unisphere Establishment$152.4 Mil1.3%50ADD +18.0%13F
Partners Group Holding AG$47.7 Mil3.5%50Hold13F
Skye Global Management LP$43.9 Mil0.9%44ADD +10.2%13F
Ycg, LLC$42.5 Mil3.8%42TRIM -7.8%13F
Core Cache Last Updated: 10/14/2026