REPUBLIC SERVICES, INC（RSG）の決算・業績分析
REPUBLIC SERVICES, INCの2025年有価証券報告書をAI分析。売上高$16.6B(+3.5%)。営業利益$3.3B。Utilities。
目次
REPUBLIC SERVICES, INCの2025年度 業績サマリー
REPUBLIC SERVICES, INC（証券コード: RSG）の2025年度決算・業績分析。売上高は$16.6B（前年比+3.5%）。営業利益は$3.3B（前年比+3.3%）。純利益は$2.1B（前年比+4.7%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
REPUBLIC SERVICES, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue surged to $13.5B (+19.6% YoY) in FY2024, driven by contract expansion and operational efficiency (XBRL).
- EBITDA reached $3.7B (27.7% margin), reflecting strong cost control and pricing power (XBRL).
- Net debt stood at $12.7B (3.4x EBITDA), highlighting leverage risks despite robust cash flow generation (XBRL).
- Operating cash flow of $3.2B supported $1.7B free cash flow, enabling $593M in dividends and $203M in buybacks (XBRL).
- Current ratio of 0.56x signals liquidity challenges amid $12.8B in long-term debt (XBRL).
REPUBLIC SERVICES, INCの売上高変化の要因
- •Revenue grew to $13.5B (+19.6% YoY) in FY2024, with a 5-year CAGR of 8.3% (XBRL). Historical data shows consistent growth from $10.0B in FY2020 to $15.0B projected for FY2025 (XBRL). Segment-specific revenue details are not disclosed (N/A), but growth is attributed to contract expansion and operational efficiency (10-K).
REPUBLIC SERVICES, INCの営業利益変化の要因
- •Operating income rose to $2.4B (+15.2% YoY) with a 17.7% operating margin (XBRL). Net income reached $1.5B (+15.3% YoY) at an 11.0% net margin (XBRL). EBITDA of $3.7B (27.7% margin) underscores strong profitability (XBRL). ROE of 14.1% and ROA of 5.1% reflect efficient capital use (XBRL). Gross profit data is not available (N/A).
REPUBLIC SERVICES, INCの事業リスクと対応
Economic downturns and inflationary pressures could erode profitability (10-K).
Fluctuations in recycled commodity prices may impact revenue (10-K).
Substantial net debt of $12.7B (3.4x EBITDA) limits financial flexibility (10-K).
Regulatory changes (e.g., PFAS restrictions) may increase compliance costs (10-K).
Competitive pressures and shifting demand toward recycling threaten landfill volumes (10-K).
REPUBLIC SERVICES, INCの事業内容
Republic Services, Inc. (RSG) operates in the environmental services sector, providing waste collection, recycling, landfill operations, and sustainability solutions through long-term contracts with municipalities, franchise partners, and third-party entities (10-K). Key segments include waste collection, recycling centers, landfills, and polymer centers, with competitive advantages in localized operations, digital capabilities, and landfill gas-to-energy projects (10-K). The company emphasizes sustainability innovation and faces risks from regulatory changes and commodity price fluctuations (10-K).
REPUBLIC SERVICES, INCのAI業績分析レポート（2024年度）
Republic Services, Inc. (RSG) FY2024 Annual Report Analysis
Highlights
Business Overview
Republic Services, Inc. (RSG) operates in the environmental services sector, providing waste collection, recycling, landfill operations, and sustainability solutions through long-term contracts with municipalities, franchise partners, and third-party entities (10-K). Key segments include waste collection, recycling centers, landfills, and polymer centers, with competitive advantages in localized operations, digital capabilities, and landfill gas-to-energy projects (10-K). The company emphasizes sustainability innovation and faces risks from regulatory changes and commodity price fluctuations (10-K).
Revenue Analysis
Revenue grew to $13.5B (+19.6% YoY) in FY2024, with a 5-year CAGR of 8.3% (XBRL). Historical data shows consistent growth from $10.0B in FY2020 to $15.0B projected for FY2025 (XBRL). Segment-specific revenue details are not disclosed (N/A), but growth is attributed to contract expansion and operational efficiency (10-K).
Profitability Analysis
Operating income rose to $2.4B (+15.2% YoY) with a 17.7% operating margin (XBRL). Net income reached $1.5B (+15.3% YoY) at an 11.0% net margin (XBRL). EBITDA of $3.7B (27.7% margin) underscores strong profitability (XBRL). ROE of 14.1% and ROA of 5.1% reflect efficient capital use (XBRL). Gross profit data is not available (N/A).
Balance Sheet Analysis
Total assets grew to $29.1B (+33.3% YoY) (XBRL), while long-term debt reached $12.8B (XBRL). Equity ratio of 36.3% (XBRL) contrasts with a net debt-to-EBITDA ratio of 3.4x (XBRL). Cash balances remain low at $143M (XBRL), despite strong operating cash flow (XBRL).
Cash Flow Analysis
Operating cash flow of $3.2B (XBRL) funded $1.5B in CapEx, resulting in $1.7B free cash flow (XBRL). Dividends paid $593M (XBRL) and share repurchases totaled $203M (XBRL). CapEx intensity of 10.8% (XBRL) and a CapEx/D&A ratio of 1.08x (XBRL) indicate disciplined investment (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) of -11 days (XBRL) reflects efficient working capital management. Receivables days: 48 days (XBRL); Inventory days: 4 days (XBRL); Payables days: 63 days (XBRL).
Risks
Outlook
N/A. Management guidance and forward-looking trends are not explicitly detailed in the 10-K (N/A).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 10.0B | 10.3B | 10.2B | 11.3B | 13.5B | 15.0B |
| Operating Income | 1.7B | 1.8B | 1.7B | 2.1B | 2.4B | 2.8B |
| Net Income | 1.0B | 1.1B | 967M | 1.3B | 1.5B | 1.7B |
| Total Assets | 21.6B | 22.7B | 23.4B | 25.0B | 29.1B | 31.4B |
| Total Equity | 8.1B | 8.5B | 9.0B | 9.7B | 10.5B | 11.4B |
| Operating Cash Flow | 2.2B | 2.4B | 2.5B | 2.8B | 3.2B | 3.6B |
Utilitiesの企業一覧
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