Republic Services, Inc. (RSG)

Refuse Systems

Latest Price

$209.87

TTM P/E

29.73

Normalized P/E

35.58

Div Yield

1.19%

Book Value

39.11

P/B Ratio

5.37

Valuation metrics

EPS: $6.85

Book value / share: $38.34

Formula: √(22.5 × EPS × BVPS)

Graham Number

$76.87

63% downside

Norm. op. income: $2.4B (median of 7yr)

Tax rate: 18%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$19.50

91% downside

Base FCF: $2.0B (median of recent 5yr)

Growth: 15%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$180.85

14% downside

EPS: $6.85

Target P/E: 36×

Formula: EPS × P/E

P/E Fair Value

$246.60

+18% upside

58.4% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	17.82M	$3.80B	5.78%	+945.5K	2026-06-30
Vanguard Capital Management LLC	13.06M	$2.78B	4.24%	+3.4K	2026-06-30
State Street Corp	9.95M	$2.12B	3.23%	+160.1K	2026-06-30
Vanguard Portfolio Management LLC	7.12M	$1.52B	2.31%	+2.89M	2026-06-30
Price T Rowe Associates Inc	6.49M	$1.38B	2.11%	+191.8K	2026-06-30
Morgan Stanley	4.91M	$1.04B	1.59%	-129.9K	2026-06-30
Geode Capital Management, LLC	4.90M	$1.04B	1.59%	+8.8K	2026-06-30
FMR LLC	4.54M	$968.0M	1.47%	-106.8K	2026-06-30
JPMorgan Chase & Co	3.67M	$787.0M	1.19%	+652.0K	2026-06-30
Bank of America Corp	3.20M	$682.0M	1.04%	+1.33M	2026-06-30