Republic Services
RSG · Environmental & Facilities Services
$240.45
0.6%Veralto
VLTO · Environmental & Facilities Services
$104.33
0.5%The short version
- Republic Services is the larger business, with $19.0B of revenue in fiscal 2025 against $5.5B for Veralto, about 3.5 times as much.
- Veralto grew revenue faster (6.0%, against 3.3%).
- Veralto kept more of each dollar of sales as operating profit (23.2% operating margin, against 17.4% operating margin).
- Veralto turned more of its sales into free cash flow (18.4% FCF margin, against 12.7% FCF margin).
- Veralto earned a higher return on the capital invested in it (28.1%, against 10.8%).
- Investors pay more for each dollar of Republic Services’s earnings: a P/E of 34.1x against 26.9x for Veralto.
| Latest fiscal year | RSG · FY25 | VLTO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $74.0B | $26.0B |
| Revenue | $19.0B | $5.5B |
| Free cash flow | $2.4B | $1.0B |
| Net income | $2.1B | $940M |
| Growth | ||
| Revenue growth | 3.3% | 6.0% |
| 5-year growth | 9.6% | — |
| Share count change | −0.8% | 0.3% |
| Profitability | ||
| Gross margin | 49.4% | 60.0% |
| Operating margin | 17.4% | 23.2% |
| Net margin | 11.2% | 17.1% |
| FCF margin | 12.7% | 18.4% |
| Return on capital | 10.8% | 28.1% |
| Return on equity | 18.3% | 36.6% |
| Balance sheet | ||
| Net debt | $13.9B | $642M |
| Net debt / EBITDA | 2.7x | 0.5x |
| Dividends and buybacks | $1.6B | $109M |
| Valuation & quality | ||
| P/E | 34.1x | 26.9x |
| Piotroski F-score | 8 | 6 |
FY16
RSG $11.4B
VLTO —
FY17
RSG $12.1B
VLTO —
FY18
RSG $11.9B
VLTO —
FY19
RSG $12.2B
VLTO —
FY20
RSG $12.0B
VLTO —
FY21
RSG $13.3B
VLTO $4.7B
FY22
RSG $15.6B
VLTO $4.9B
FY23
RSG $17.3B
VLTO $5.0B
FY24
RSG $18.4B
VLTO $5.2B
FY25
RSG $19.0B
VLTO $5.5B
RSG
VLTO
FY16
RSG 13.5%
VLTO —
FY17
RSG 13.8%
VLTO —
FY18
RSG 14.6%
VLTO —
FY19
RSG 14.7%
VLTO —
FY20
RSG 14.2%
VLTO —
FY21
RSG 15.6%
VLTO 22.2%
FY22
RSG 15.3%
VLTO 22.8%
FY23
RSG 16.1%
VLTO 22.7%
FY24
RSG 17.4%
VLTO 23.3%
FY25
RSG 17.4%
VLTO 23.2%
RSG
VLTO
FY16
RSG $920M
VLTO —
FY17
RSG $921M
VLTO —
FY18
RSG $1.2B
VLTO —
FY19
RSG $1.1B
VLTO —
FY20
RSG $1.3B
VLTO —
FY21
RSG $1.5B
VLTO $842M
FY22
RSG $1.7B
VLTO $836M
FY23
RSG $2.0B
VLTO $909M
FY24
RSG $2.1B
VLTO $820M
FY25
RSG $2.4B
VLTO $1.0B
RSG
VLTO
FY16
RSG 6.4%
VLTO —
FY17
RSG 10.6%
VLTO —
FY18
RSG 8.4%
VLTO —
FY19
RSG 8.9%
VLTO —
FY20
RSG 8.4%
VLTO —
FY21
RSG 9.3%
VLTO —
FY22
RSG 9.6%
VLTO —
FY23
RSG 9.7%
VLTO 26.9%
FY24
RSG 11.2%
VLTO 27.3%
FY25
RSG 10.8%
VLTO 28.1%
RSG
VLTO
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.