Republic Services (RSG) FY2011 results: revenue $8.2 billion, up 1.1% on the year
Republic Services, Inc. (RSG) reported revenue of $8.2 billion for fiscal 2011, the year ended 31 December 2011, up 1.1% on the year before. Net income was $589 million, up 16.3%, and diluted earnings per share $1.56. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2012.
Revenue
$8.2 billion
+1.1% on the year
FY2007FY2011
Operating margin
19.0%
19.0% a year earlier
FY2007FY2011
Net income
$589 million
+16.3% on the year
FY2007FY2011
Diluted EPS
$1.56
+18.2% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
8,193
8,107
8,199
+1.1%
Cost of revenue
4,865
4,765
4,844
+2.1%
Gross profit
3,328
3,342
3,355
-0.4%
Gross margin
40.6%
41.2%
40.9%
Selling, general and administrative
825
858
880
-3.8%
Operating income
1,553
1,539
1,590
+0.9%
Operating margin
19.0%
19.0%
19.4%
Interest expense
440
507
596
-13.2%
Pre-tax income
906
877
865
+3.3%
Income tax
317
370
368
-14.1%
Effective tax rate
35.0%
42.1%
42.6%
Net income
589
506
495
+16.3%
Net margin
7.2%
6.2%
6.0%
Diluted EPS
$1.56
$1.32
$1.30
+18.2%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,767
1,434
1,396
+23.2%
Capital expenditure
936
795
826
+17.8%
Free cash flow
830
639
570
+29.9%
Free cash flow margin
10.1%
7.9%
7.0%
Cash from investing
-950
-690
-242
Cash from financing
-838
-703
-1,175
Depreciation and amortisation
844
834
870
+1.2%
Share-based compensation
20.6
24.5
15.0
-15.9%
Buybacks
461
43.1
1.0
+968.9%
Dividends paid
309
295
288
+5.0%
Dividend per share
$0.84
$0.78
$0.76
+7.7%
Diluted shares, weighted
378m
385m
381m
-1.9%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
7,681
7,846
7,564
-2.1%
Non-controlling interest
2.1
2.4
2.6
-12.5%
Debt
6,922
7,043
6,420
-1.7%
Other liabilities
4,946
4,570
5,554
+8.2%
Total liabilities and equity
19,552
19,462
19,540
+0.5%
Fixed assets
6,792
6,698
6,658
+1.4%
Goodwill
10,647
10,655
10,667
-0.1%
Intangible assets
410
451
500
-9.2%
Cash and equivalents
66.3
88.3
48.0
-24.9%
Receivables
826
829
865
-0.4%
Inventory
35.2
31.3
33.7
+12.5%
Other assets
775
708
769
+9.5%
Total assets
19,552
19,462
19,540
+0.5%
10-K for the year ended 31 December 2011, filed 17 February 2012: the filing.