Republic Services: Premium Valuation for a Rock-Solid, Defensive Compounder
Overview
Republic Services, Inc. (RSG) stands as the second-largest U.S. provider of non-hazardous solid waste collection, transfer, disposal, recycling, and energy services. With an extensive, vertically integrated network of landfills, collection operations, and recycling facilities, the company serves millions of customers under long-term contracts. Its business model is characterized by high recurring demand, robust customer retention, and significant cash generation. In 2024, Republic generated $16 billion in revenue and continues to expand through organic growth and acquisitions. Strategic investments in renewable energy and recycling further bolster its market leadership in an essential, defensive sector with stable, long-term growth.