Republic Services, Inc. — Earnings Quality Grade F
RSG · Industrials
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 42 days, change +0 days YoY
AR growth 4.2% vs revenue growth 3.5%
Revenue 3.5%, CFFO 9.1%. Cash follows revenue
Expense Quality
Inventory 8.2% vs COGS 3.0%. Normal
CapEx growth 1.7% vs revenue 3.5%. Normal
SG&A/Gross Profit = 24.0%, excellent (<30%)
Gross margin 42.0%, change +0.3pp. Stable
Cash Flow Quality
CFFO/NI = 2.01. Profits backed by cash
FCF $2.4B, FCF/NI = 1.13
Accruals ratio = -6.3%. Low accruals
Cash $0.1B covers only 1% of debt $13.8B
Balance Sheet Health
Goodwill+Intangibles $17.4B = 145% of equity. Over 50%
Debt/EBITDA = 2.7x. Healthy
Other assets grew 21.9% vs revenue 3.5%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 5% YoY. Normal
Manipulation Score
M-Score = -2.74 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09