DCF Tool

RSG

Republic Services, Inc. – Facilities Support Services
Republic Services, Inc. is an industry leader in U.S. recycling and non-hazardous solid waste disposal. Through its subsidiaries, Republic's collection companies, transfer stations, recycling centers, landfills and environmental services provide effective solutions to make responsible recycling and waste disposal effortless for its customers across the country. Its 36,000 employees are committed to providing a superior experience while fostering a sustainable Blue PlanetĀ® for future generations to enjoy a cleaner, safer and healthier world.
Analysis Results
Intrinsic Value $129.53
Latest Price $129.45
Relative Value 0% undervalued
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Cash Flow (Billions)
Analysis Parameters
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Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 4.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 5.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 4.1%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2022 1.5 1.42
2023 1.56 1.39
2024 1.62 1.37
2025 1.69 1.35
2026 1.76 1.33
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 47.7 billion. This corresponds to a present value of 34.1 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 6.86 billion. Adding in the terminal value gives a total present value of 40.9 billion.

There are presently 316.0 million outstanding shares, so the intrinsic value per share is 129.53.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,710,800,000
Current Cash 29,000,000
Current Liabilities 2,415,600,000
Current Debt 8,200,000
Non-Cash Working Capital (NCWC) -725,600,000
Change in NCWC -95,300,000
EBIT 1,904,800,000
Tax Provision 282,800,000
Depreciation and Amortization 1,268,200,000
Capital Expenditure -1,316,300,000
Unlevered Free Cash Flow 1,419,404,291
Current Assets 1,521,800,000
Current Cash 38,200,000
Current Liabilities 2,282,000,000
Current Debt 168,100,000
Non-Cash Working Capital (NCWC) -630,300,000
Change in NCWC -54,500,000
EBIT 1,723,100,000
Tax Provision 173,100,000
Depreciation and Amortization 1,158,800,000
Capital Expenditure -1,194,600,000
Unlevered Free Cash Flow 1,371,779,075
Current Assets 1,606,000,000
Current Cash 47,100,000
Current Liabilities 3,064,600,000
Current Debt 929,900,000
Non-Cash Working Capital (NCWC) -575,800,000
Change in NCWC -41,800,000
EBIT 1,674,500,000
Tax Provision 222,000,000
Depreciation and Amortization 1,122,400,000
Capital Expenditure -1,207,100,000
Unlevered Free Cash Flow 1,261,120,080
Current Assets 1,564,400,000
Current Cash 70,500,000
Current Liabilities 2,718,600,000
Current Debt 690,700,000
Non-Cash Working Capital (NCWC) -534,000,000
Change in NCWC 40,600,000
EBIT 1,681,500,000
Tax Provision 283,300,000
Depreciation and Amortization 1,114,100,000
Capital Expenditure -1,071,800,000
Unlevered Free Cash Flow 1,403,760,322
Current Assets 1,436,800,000
Current Cash 83,300,000
Current Liabilities 2,634,800,000
Current Debt 706,700,000
Non-Cash Working Capital (NCWC) -574,600,000
Change in NCWC 14,900,000
EBIT 1,626,000,000
Tax Provision 3,100,000
Depreciation and Amortization 1,116,100,000
Capital Expenditure -989,800,000
Unlevered Free Cash Flow 1,763,268,481
Current Assets 1,284,500,000
Current Cash 67,800,000
Current Liabilities 1,812,000,000
Current Debt 5,800,000
Non-Cash Working Capital (NCWC) -589,500,000
Change in NCWC 41,900,000
EBIT 1,577,600,000
Tax Provision 352,700,000
Depreciation and Amortization 1,070,200,000
Capital Expenditure -927,800,000
Unlevered Free Cash Flow 1,185,836,722
Current Assets 1,230,300,000
Current Cash 32,400,000
Current Liabilities 1,834,800,000
Current Debt 5,500,000
Non-Cash Working Capital (NCWC) -631,400,000
Change in NCWC -131,600,000
EBIT 1,563,300,000
Tax Provision 445,500,000
Depreciation and Amortization 1,050,000,000
Capital Expenditure -945,600,000
Unlevered Free Cash Flow 953,735,128
Current Assets 1,391,000,000
Current Cash 75,200,000
Current Liabilities 1,826,000,000
Current Debt 10,400,000
Non-Cash Working Capital (NCWC) -499,800,000
Change in NCWC -7,000,000
EBIT 1,256,400,000
Tax Provision 337,400,000
Depreciation and Amortization 984,900,000
Capital Expenditure -862,500,000
Unlevered Free Cash Flow 892,968,688
Current Assets 1,421,900,000
Current Cash 213,300,000
Current Liabilities 1,717,100,000
Current Debt 15,700,000
Non-Cash Working Capital (NCWC) -492,800,000
Change in NCWC 19,100,000
EBIT 1,374,700,000
Tax Provision 262,100,000
Depreciation and Amortization 954,000,000
Capital Expenditure -880,800,000
Unlevered Free Cash Flow 1,043,704,804
Current Assets 1,231,300,000
Current Cash 67,600,000
Current Liabilities 1,695,000,000
Current Debt 19,400,000
Non-Cash Working Capital (NCWC) -511,900,000
Change in NCWC 151,400,000
EBIT 1,364,800,000
Tax Provision 251,800,000
Depreciation and Amortization 926,900,000
Capital Expenditure -903,500,000
Unlevered Free Cash Flow 1,122,490,350

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