Republic Services (RSG) FY2015 results: revenue $9.1 billion, up 3.7% on the year
Republic Services, Inc. (RSG) reported revenue of $9.1 billion for fiscal 2015, the year ended 31 December 2015, up 3.7% on the year before. Net income was $750 million, up 36.9%, and diluted earnings per share $2.13. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$9.1 billion
+3.7% on the year
FY2008FY2015
Operating margin
17.1%
14.0% a year earlier
FY2008FY2015
Net income
$750 million
+36.9% on the year
FY2008FY2015
Diluted EPS
$2.13
+39.2% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
9,115
8,788
8,417
+3.7%
Cost of revenue
5,519
5,643
5,235
-2.2%
Gross profit
3,596
3,145
3,182
+14.3%
Gross margin
39.5%
35.8%
37.8%
Selling, general and administrative
983
919
854
+7.0%
Operating income
1,559
1,233
1,210
+26.4%
Operating margin
17.1%
14.0%
14.4%
Interest expense
365
349
360
+4.6%
Pre-tax income
1,196
885
851
+35.1%
Income tax
446
337
262
+32.0%
Effective tax rate
37.3%
38.1%
30.8%
Net income
750
548
589
+36.9%
Net margin
8.2%
6.2%
7.0%
Diluted EPS
$2.13
$1.53
$1.62
+39.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,680
1,530
1,548
+9.8%
Capital expenditure
946
862
881
+9.6%
Free cash flow
734
667
667
+10.0%
Free cash flow margin
8.1%
7.6%
7.9%
Cash from investing
-1,483
-960
-934
Cash from financing
-240
-708
-469
Depreciation and amortisation
971
907
877
+7.0%
Share-based compensation
18.9
17.4
19.2
+8.6%
Buybacks
405
401
214
+1.0%
Dividends paid
399
379
348
+5.5%
Dividend per share
$1.16
$1.08
$0.99
+7.4%
Diluted shares, weighted
351m
358m
363m
-1.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,774
7,745
7,904
+0.4%
Non-controlling interest
2.5
2.5
2.6
0.0%
Debt
7,533
7,061
7,018
+6.7%
Other liabilities
5,226
5,243
4,979
-0.3%
Total liabilities and equity
20,536
20,052
19,903
+2.4%
Fixed assets
7,553
7,165
7,037
+5.4%
Goodwill
11,146
10,831
10,724
+2.9%
Intangible assets
246
299
316
-17.6%
Cash and equivalents
32.4
75.2
213
-56.9%
Receivables
963
930
891
+3.5%
Inventory
38.8
35.9
37.8
+8.1%
Other assets
557
716
685
-22.2%
Total assets
20,536
20,052
19,903
+2.4%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.