Republic Services vs Waste Management
Waste Management is the larger business, with $25.20bn of revenue in fiscal 2025 against $19.03bn for Republic Services (1.3 times as much). Waste Management grew faster (14.2% against 3.3%). Republic Services kept more of each dollar of sales as profit: a net margin of 11.2% against 10.7%.
| Latest fiscal year | Republic ServicesRSG, 2025 | Waste ManagementWM, 2025 |
|---|---|---|
| Revenue | $19.03bn | $25.20bn |
| Revenue growth | 3.3% | 14.2% |
| Net income | $2.14bn | $2.71bn |
| Operating margin | 17.4% | — |
| Net margin | 11.2% | 10.7% |
| Return on equity | 18.3% | 29.7% |
| Free cash flow | $2.41bn | $2.82bn |
| Cash | $76.0m | $201m |
| Total debt | $13.71bn | $22.91bn |
| Debt to equity | 114.6% | — |
| Dividend per share | $2.41 | $3.30 |
| Dividend yield | 1.0% | 1.6% |
| Share buybacks | $870m | — |
| Employees | 42,000 | 60,500 |
| Market value | $74.42bn | $93.34bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 84 (Strong) | 83 (Strong) |
| Insider trades, 12 months | 108 buys, 3 sales | 1 buys, 35 sales |