Republic Services (RSG) FY2016 results: revenue $9.4 billion, up 3.0% on the year
Republic Services, Inc. (RSG) reported revenue of $9.4 billion for fiscal 2016, the year ended 31 December 2016, up 3.0% on the year before. Net income was $613 million, down 18.3%, and diluted earnings per share $1.78. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2017.
Revenue
$9.4 billion
+3.0% on the year
FY2009FY2016
Operating margin
16.4%
17.1% a year earlier
FY2009FY2016
Net income
$613 million
-18.3% on the year
FY2009FY2016
Diluted EPS
$1.78
-16.4% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
9,388
9,115
8,788
+3.0%
Cost of revenue
5,764
5,519
5,643
+4.4%
Gross profit
3,624
3,596
3,145
+0.8%
Gross margin
38.6%
39.5%
35.8%
Selling, general and administrative
970
983
919
-1.4%
Operating income
1,538
1,559
1,233
-1.4%
Operating margin
16.4%
17.1%
14.0%
Interest expense
371
365
349
+1.8%
Pre-tax income
966
1,196
885
-19.2%
Income tax
353
446
337
-20.8%
Effective tax rate
36.5%
37.3%
38.1%
Net income
613
750
548
-18.3%
Net margin
6.5%
8.2%
6.2%
Diluted EPS
$1.78
$2.13
$1.53
-16.4%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,848
1,680
1,530
+10.0%
Capital expenditure
928
946
862
-1.9%
Free cash flow
920
734
667
+25.3%
Free cash flow margin
9.8%
8.1%
7.6%
Cash from investing
-964
-1,483
-960
Cash from financing
-857
-240
-708
Depreciation and amortisation
991
971
907
+2.1%
Share-based compensation
23.2
18.9
17.4
+22.8%
Buybacks
404
405
401
-0.2%
Dividends paid
419
399
379
+4.9%
Dividend per share
$1.24
$1.16
$1.08
+6.9%
Diluted shares, weighted
344m
351m
358m
-2.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
7,691
7,774
7,745
-1.1%
Non-controlling interest
2.4
2.5
2.5
-4.0%
Debt
7,659
7,533
7,061
+1.7%
Other liabilities
5,277
5,226
5,243
+1.0%
Total liabilities and equity
20,630
20,536
20,052
+0.5%
Fixed assets
7,589
7,553
7,165
+0.5%
Goodwill
11,163
11,146
10,831
+0.2%
Intangible assets
182
246
299
-26.0%
Cash and equivalents
67.8
32.4
75.2
+109.3%
Receivables
995
963
930
+3.3%
Inventory
44.0
38.8
35.9
+13.4%
Other assets
589
557
716
+5.7%
Total assets
20,630
20,536
20,052
+0.5%
10-K for the year ended 31 December 2016, filed 17 February 2017: the filing.