Republic Services, Inc. (RSG) Income Statement
RSG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRSG revenue and net income
Where RSG's revenue goes
2025Each bar shows an amount and its share of revenue. RSG kept 12.9% of revenue as net income.
RSG profit margins
RSG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.5% | +7.1% | +10.3% | +6.2% |
| Gross profit | +42.1% | +21.7% | +11.4% | +10.5% |
| Operating income | +3.0% | +11.3% | +14.2% | +7.7% |
| Net income | +4.7% | +12.9% | +17.2% | +11.1% |
| EPS (diluted) | +8.7% | +12.4% | +14.4% | +13.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RSG quarterly EPS vs estimates
Republic Services beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.92).
RSG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.59B | $16.03B | $14.96B | $13.51B | $11.29B | $10.15B | $10.30B | $10.04B | $10.04B | $9.39B |
| Cost of revenue | $9.63B | $11.13B | $10.54B | $9.65B | $8.01B | $6.10B | $7.39B | $7.23B | $7.33B | $6.80B |
| Gross profit | $6.96B | $4.90B | $4.42B | $3.87B | $3.29B | $4.05B | $2.91B | $2.81B | $2.72B | $2.59B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $1.67B | $1.65B | $1.52B | $1.45B | $1.20B | $1.03B | $1.04B | $1.06B | $1.03B | $949.4M |
| Total operating expenses | $3.64B | $1.67B | $1.58B | $1.45B | $1.20B | $2.34B | $1.08B | $1.05B | $1.06B | $2.09B |
| Operating income | $3.32B | $3.22B | $2.84B | $2.41B | $2.09B | $1.71B | $1.83B | $1.76B | $1.66B | $1.61B |
| Interest income | $729.0M | $9.0M | $6.3M | $557.9M | $2.5M | $468.6M | $6.4M | $1.6M | $1.0M | $900,000 |
| Interest expense | $574.0M | $550.0M | $529.7M | $386.8M | $303.6M | $351.6M | $390.6M | $385.4M | $364.0M | $387.4M |
| Income before taxes | $2.59B | $2.43B | $2.19B | $1.83B | $1.58B | $1.14B | $1.30B | $1.32B | $1.28B | $965.9M |
| Income taxes | $455.0M | $388.0M | $460.1M | $343.9M | $282.8M | $173.1M | $222.0M | $283.3M | $3.1M | $352.7M |
| Net income | $2.14B | $2.04B | $1.73B | $1.49B | $1.29B | $967.2M | $1.07B | $1.04B | $1.28B | $612.6M |
| EBITDA | $5.10B | $4.77B | $4.32B | $3.66B | $3.15B | $2.65B | $2.81B | $2.82B | $2.76B | $2.42B |
| EPS (diluted) | $7.01 | $6.45 | $5.60 | $4.93 | $4.15 | $3.58 | $3.34 | $3.09 | $2.44 | $2.22 |
| Gross margin | 42.0% | 30.6% | 29.6% | 28.6% | 29.1% | 39.9% | 28.3% | 28.0% | 27.0% | 27.6% |
| Operating margin | 20.0% | 20.1% | 19.0% | 17.9% | 18.5% | 16.8% | 17.8% | 17.6% | 16.5% | 17.2% |
| Net margin | 12.9% | 12.7% | 11.6% | 11.0% | 11.4% | 9.5% | 10.4% | 10.3% | 12.7% | 6.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.43B | $4.11B | $4.13B | $4.21B | $4.24B | $4.01B | $4.05B | $4.08B | $4.05B | $3.86B | $3.83B | $3.83B |
| Cost of revenue | $2.56B | $2.86B | $2.40B | $2.46B | $2.45B | $2.31B | $2.79B | $2.82B | $2.82B | $2.71B | $2.69B | $2.69B |
| Gross profit | $1.87B | $1.26B | $1.73B | $1.75B | $1.79B | $1.70B | $1.26B | $1.26B | $1.23B | $1.15B | $1.14B | $1.13B |
| Sales, general & admin | $429.0M | $413.0M | $423.0M | $413.0M | $417.0M | $417.0M | $439.3M | $406.0M | $407.6M | $406.7M | $422.2M | $377.0M |
| Total operating expenses | $966.0M | $425.0M | $924.0M | $910.0M | $916.0M | $888.0M | $447.0M | $406.0M | $407.6M | $414.0M | $426.7M | $395.9M |
| Operating income | $901.0M | $831.0M | $807.0M | $839.0M | $870.0M | $807.0M | $812.0M | $854.6M | $818.1M | $738.7M | $714.1M | $738.8M |
| Interest income | $2.0M | $2.0M | $236.0M | $2.0M | $2.0M | $2.0M | $1.6M | $4.3M | $1.6M | $1.5M | $1.5M | $122.8M |
| Interest expense | $151.0M | $150.0M | $146.0M | $143.0M | $145.0M | $140.0M | $133.7M | $136.3M | $128.3M | $139.3M | $135.5M | $130.1M |
| Income before taxes | $699.0M | $656.0M | $564.0M | $645.0M | $720.0M | $665.0M | $532.7M | $646.5M | $654.0M | $598.9M | $482.9M | $606.3M |
| Income taxes | $133.0M | $131.0M | $20.0M | $95.0M | $170.0M | $170.0M | $20.2M | $80.6M | $142.1M | $145.2M | $43.2M | $126.0M |
| Net income | $566.0M | $525.0M | $544.0M | $550.0M | $550.0M | $495.0M | $512.0M | $565.7M | $511.5M | $453.8M | $439.6M | $480.2M |
| EBITDA | $1.86B | $1.30B | $1.20B | $1.28B | $1.36B | $1.27B | $1.14B | $1.23B | $1.22B | $1.16B | $1.05B | $1.14B |
| EPS (diluted) | $1.85 | $1.70 | $1.76 | $1.90 | $1.77 | $1.58 | $1.58 | $1.81 | $1.61 | $1.45 | $1.41 | $1.54 |
| Gross margin | 42.1% | 30.5% | 41.9% | 41.5% | 42.2% | 42.3% | 31.1% | 30.9% | 30.3% | 29.8% | 29.8% | 29.7% |
| Operating margin | 20.3% | 20.2% | 19.5% | 19.9% | 20.5% | 20.1% | 20.1% | 21.0% | 20.2% | 19.1% | 18.6% | 19.3% |
| Net margin | 12.8% | 12.8% | 13.2% | 13.1% | 13.0% | 12.3% | 12.7% | 13.9% | 12.6% | 11.8% | 11.5% | 12.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RSG's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RSG financial results
In fiscal year 2025 (ended December 31, 2025), Republic Services reported revenue of $16.6 billion, up 3.5% from the year before. It had net income of $2.1 billion (up 4.7%), a net profit margin of 12.9%. Diluted earnings per share came to $7.01. Over five years revenue grew at an average rate of 10.3% a year.
See the RSG stock overview for the latest quote and news, or the RSG chart for price history and technical indicators.
RSG income statement FAQ
What is Republic Services's annual revenue?
Republic Services reported total revenue of $16.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 3.5% from $16.0 billion the previous year.
Is Republic Services profitable?
Yes. Republic Services reported net income of $2.1 billion in fiscal 2025, a net profit margin of 12.9%; its operating margin was 20.0%.
What is Republic Services's gross margin?
Republic Services's gross margin was 42.0% in fiscal 2025: for every $100 of revenue, Republic Services kept $42 after the direct cost of its products and services.
How fast is Republic Services growing?
Revenue grew 10.3% a year on average over the last five fiscal years, from $10.2 billion to $16.6 billion.
What are Republic Services's earnings per share?
Republic Services earned $7.01 per diluted share in fiscal 2025, compared with $6.45 a year earlier.
When will Republic Services report its next earnings?
Republic Services is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does Republic Services's fiscal year end?
Republic Services's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.