Republic Services (RSG) FY2020 results: revenue $10.2 billion, down 1.4% on the year
Republic Services, Inc. (RSG) reported revenue of $10.2 billion for fiscal 2020, the year ended 31 December 2020, down 1.4% on the year before. Net income was $967 million, down 9.9%, and diluted earnings per share $3.02. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$10.2 billion
-1.4% on the year
FY2013FY2020
Operating margin
16.8%
17.4% a year earlier
FY2013FY2020
Net income
$967 million
-9.9% on the year
FY2013FY2020
Diluted EPS
$3.02
-9.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
10,154
10,299
10,041
-1.4%
Cost of revenue
6,100
6,298
6,150
-3.1%
Gross profit
4,053
4,001
3,891
+1.3%
Gross margin
39.9%
38.8%
38.8%
Selling, general and administrative
1,053
1,092
1,060
-3.6%
Operating income
1,709
1,787
1,736
-4.4%
Operating margin
16.8%
17.4%
17.3%
Interest expense
356
392
384
-9.3%
Pre-tax income
1,143
1,296
1,321
-11.8%
Income tax
173
222
283
-22.0%
Effective tax rate
15.1%
17.1%
21.4%
Net income
967
1,073
1,037
-9.9%
Net margin
9.5%
10.4%
10.3%
Diluted EPS
$3.02
$3.33
$3.16
-9.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,472
2,352
2,243
+5.1%
Capital expenditure
1,195
1,207
1,072
-1.0%
Free cash flow
1,277
1,145
1,171
+11.5%
Free cash flow margin
12.6%
11.1%
11.7%
Cash from investing
-1,923
-1,719
-1,229
Cash from financing
-612
-589
-1,060
Depreciation and amortisation
1,076
1,040
1,033
+3.4%
Share-based compensation
37.3
39.5
39.0
-5.6%
Buybacks
98.8
399
737
-75.3%
Dividends paid
522
491
462
+6.4%
Dividend per share
$1.66
$1.56
$1.44
+6.4%
Diluted shares, weighted
320m
322m
328m
-0.7%
Shares outstanding at period end
n/a
353m
352m
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,484
8,118
7,927
+4.5%
Non-controlling interest
4.9
2.7
2.4
+81.5%
Debt
9,055
8,789
8,300
+3.0%
Operating lease liabilities
207
212
0.0
-2.8%
Finance lease liabilities
201
110
n/a
+81.8%
Other liabilities
5,483
5,451
5,388
+0.6%
Total liabilities and equity
23,434
22,684
21,617
+3.3%
Fixed assets
n/a
8,384
8,020
Goodwill
12,046
11,633
11,400
+3.6%
Intangible assets
173
134
106
+29.3%
Cash and equivalents
38.2
47.1
70.5
-18.9%
Receivables
1,091
1,126
1,103
-3.1%
Inventory
59.1
56.8
53.1
+4.0%
Other assets
10,026
1,303
864
+669.3%
Total assets
23,434
22,684
21,617
+3.3%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.