Republic Services (RSG) FY2018 results: revenue $10.0 billion, unchanged on the year
Republic Services, Inc. (RSG) reported revenue of $10.0 billion for fiscal 2018, the year ended 31 December 2018, unchanged on the year before. Net income was $1.0 billion, down 18.9%, and diluted earnings per share $3.16. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$10.0 billion
-0.0% on the year
FY2011FY2018
Operating margin
17.3%
16.6% a year earlier
FY2011FY2018
Net income
$1.0 billion
-18.9% on the year
FY2011FY2018
Diluted EPS
$3.16
-16.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
10,041
10,042
9,388
-0.0%
Cost of revenue
6,150
6,215
5,764
-1.0%
Gross profit
3,891
3,827
3,624
+1.7%
Gross margin
38.8%
38.1%
38.6%
Selling, general and administrative
1,060
1,057
970
+0.2%
Operating income
1,736
1,668
1,538
+4.0%
Operating margin
17.3%
16.6%
16.4%
Interest expense
384
362
371
+6.1%
Pre-tax income
1,321
1,282
966
+3.0%
Income tax
283
3.1
353
+9,038.7%
Effective tax rate
21.4%
0.2%
36.5%
Net income
1,037
1,278
613
-18.9%
Net margin
10.3%
12.7%
6.5%
Diluted EPS
$3.16
$3.77
$1.78
-16.2%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,243
1,911
1,848
+17.4%
Capital expenditure
1,072
990
928
+8.3%
Free cash flow
1,171
921
920
+27.2%
Free cash flow margin
11.7%
9.2%
9.8%
Cash from investing
-1,229
-1,330
-964
Cash from financing
-1,060
-514
-857
Depreciation and amortisation
1,033
1,036
991
-0.3%
Share-based compensation
39.0
34.6
23.2
+12.7%
Buybacks
737
611
404
+20.7%
Dividends paid
462
440
419
+4.8%
Dividend per share
$1.44
$1.33
$1.24
+8.3%
Diluted shares, weighted
328m
339m
344m
-3.1%
Shares outstanding at period end
352m
n/a
n/a
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
7,927
7,959
7,691
-0.4%
Non-controlling interest
2.4
2.3
2.4
+4.3%
Debt
8,300
8,187
7,659
+1.4%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
5,388
4,998
5,277
+7.8%
Total liabilities and equity
21,617
21,147
20,630
+2.2%
Fixed assets
8,020
7,777
7,589
+3.1%
Goodwill
11,400
11,315
11,163
+0.7%
Intangible assets
106
141
182
-24.5%
Cash and equivalents
70.5
83.3
67.8
-15.4%
Receivables
1,103
1,106
995
-0.3%
Inventory
53.1
51.2
44.0
+3.7%
Other assets
864
673
589
+28.4%
Total assets
21,617
21,147
20,630
+2.2%
10-K for the year ended 31 December 2018, filed 8 February 2019: the filing.