Republic Services (RSG) FY2023 results: revenue $15.0 billion, up 10.8% on the year
Republic Services, Inc. (RSG) reported revenue of $15.0 billion for fiscal 2023, the year ended 31 December 2023, up 10.8% on the year before. Net income was $1.7 billion, up 16.4%, and diluted earnings per share $5.47. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$15.0 billion
+10.8% on the year
FY2016FY2023
Operating margin
18.6%
17.7% a year earlier
FY2016FY2023
Net income
$1.7 billion
+16.4% on the year
FY2016FY2023
Diluted EPS
$5.47
+16.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,618
3,190
2,787
+13.4%
Capital expenditure
1,631
1,454
1,316
+12.2%
Free cash flow
1,987
1,736
1,470
+14.4%
Free cash flow margin
13.3%
12.8%
13.0%
Cash from investing
-3,667
-4,423
-2,466
Cash from financing
61.9
1,344
-329
-95.4%
Depreciation and amortisation
1,501
1,352
1,186
+11.1%
Share-based compensation
41.0
39.0
57.0
+5.1%
Buybacks
262
203
252
+29.0%
Dividends paid
638
593
553
+7.6%
Dividend per share
$2.06
$1.91
$1.77
+7.9%
Diluted shares, weighted
317m
317m
319m
-0.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
10,542
9,686
8,979
+8.8%
Non-controlling interest
1.0
0.8
0.8
+25.0%
Debt
12,819
11,902
9,678
+7.7%
Operating lease liabilities
195
238
239
-18.1%
Finance lease liabilities
238
233
241
+2.2%
Other liabilities
7,614
6,993
5,817
+8.9%
Total liabilities and equity
31,410
29,053
24,955
+8.1%
Goodwill
15,834
14,452
12,826
+9.6%
Intangible assets
496
347
260
+42.9%
Cash and equivalents
140
143
29.0
-2.1%
Receivables
1,768
1,677
1,271
+5.4%
Inventory
98.0
96.6
72.2
+1.4%
Other assets
13,073
12,337
10,497
+6.0%
Total assets
31,410
29,053
24,955
+8.1%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.