Republic Services (RSG) FY2010 results: revenue $8.1 billion, down 1.1% on the year
Republic Services, Inc. (RSG) reported revenue of $8.1 billion for fiscal 2010, the year ended 31 December 2010, down 1.1% on the year before. Net income was $506 million, up 2.3%, and diluted earnings per share $1.32. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2011.
Revenue
$8.1 billion
-1.1% on the year
FY2007FY2010
Operating margin
19.0%
19.4% a year earlier
FY2007FY2010
Net income
$506 million
+2.3% on the year
FY2007FY2010
Diluted EPS
$1.32
+1.5% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
8,107
8,199
3,685
-1.1%
Cost of revenue
4,765
4,844
2,417
-1.6%
Gross profit
3,342
3,355
1,268
-0.4%
Gross margin
41.2%
40.9%
34.4%
Selling, general and administrative
858
880
435
-2.5%
Operating income
1,539
1,590
283
-3.2%
Operating margin
19.0%
19.4%
7.7%
Interest expense
507
596
132
-14.9%
Pre-tax income
877
865
159
+1.4%
Income tax
370
368
85.4
+0.3%
Effective tax rate
42.1%
42.6%
53.6%
Net income
506
495
73.8
+2.3%
Net margin
6.2%
6.0%
2.0%
Diluted EPS
$1.32
$1.30
$0.37
+1.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
1,434
1,396
512
+2.7%
Capital expenditure
795
826
387
-3.8%
Free cash flow
639
570
125
+12.1%
Free cash flow margin
7.9%
7.0%
3.4%
Cash from investing
-690
-242
-935
Cash from financing
-703
-1,175
469
Depreciation and amortisation
834
870
354
-4.1%
Share-based compensation
24.5
15.0
24.0
+63.3%
Buybacks
43.1
1.0
138
+4,210.0%
Dividends paid
295
288
128
+2.2%
Dividend per share
$0.78
$0.76
$0.72
+2.6%
Diluted shares, weighted
385m
381m
198m
+1.1%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
7,846
7,564
7,281
+3.7%
Non-controlling interest
2.4
2.6
1.1
-7.7%
Debt
7,043
6,420
7,198
+9.7%
Other liabilities
4,570
5,554
5,440
-17.7%
Total liabilities and equity
19,462
19,540
19,921
-0.4%
Fixed assets
6,698
6,658
6,738
+0.6%
Goodwill
10,655
10,667
10,522
-0.1%
Intangible assets
451
500
564
-9.7%
Cash and equivalents
88.3
48.0
68.7
+84.0%
Receivables
829
865
946
-4.2%
Inventory
31.3
33.7
n/a
-7.1%
Other assets
708
769
1,083
-7.9%
Total assets
19,462
19,540
19,921
-0.4%
10-K for the year ended 31 December 2010, filed 18 February 2011: the filing.