Analysis for RSG

📈 Growth & Financial Trajectory

Over eight quarters from 2024Q3 to 2026Q2, Revenues rose from about $4.68B to about $5.08B, an ~+9% rise, with quarterly fluctuations. Net income stayed around $0.55B per quarter, finishing at $0.566B in 2026Q2, essentially flat. The pace suggests durable profitability despite variability in top-line growth.

Gross margin hovered near 50% across the span, peaking around 53.5% in 2026Q1, with margins in the low-to-mid 50s. Operating income remained in the high single digits as a percentage of revenue, supporting earnings resilience.

💰 Margins & Cash Flow

• Gross Margin: roughly 49-53%, peak 53.5% (2026Q1).
• Operating Margin: mid-teens; 2026Q2 Operating Income $901M on $5.076B revenue (~17.8%).
• Net cash flow from operating activities: generally positive around $1.0–1.2B per quarter; 2026Q2 was $1.153B.
• Investing cash flow tends to be negative (e.g., -$0.527B in 2025Q2, -$0.817B in 2026Q2).

🛡️ Balance Sheet & Liquidity

• Assets around $33–35B; Liabilities around $22–24B; Equity around $11.9–12.3B.
• Current ratio often below 1, reflecting substantial noncurrent assets and working capital structure.
• Long-term debt in the range $12.8–$13.7B, signaling leverage typical for the sector with ongoing financing activity.

⚠️ Key Drivers & Risks

• Drivers: Steady waste volume, contracted pricing, scale in municipal/commercial waste hauling; resilient demand.
• Risks: Cyclical exposure and regulatory shifts; leverage sensitivity and competitive pricing pressure.