GFL Environmental Inc. (GFL) vs Republic Services, Inc. (RSG)

GFL Environmental Inc. and Republic Services, Inc. are both Waste Management companies. Republic Services, Inc. is the larger, with a market value of $70.3B against $19.0B — 3.7× the size. GFL Environmental Inc. has negative trailing earnings, so its P/E is not meaningful; Republic Services, Inc. trades at 32.8×. Republic Services, Inc. grew revenue faster over the last twelve months: 3.20% against −2.93%. Republic Services, Inc. has the higher net margin (12.9% vs −1.75%) and the higher return on invested capital (8.27% vs 2.00%). Both pay a dividend; Republic Services, Inc. yields more (1.10% vs 0.15%). Across the 22 metrics below, Republic Services, Inc. leads on 17 and GFL Environmental Inc. on 5.

Valuation

Metric GFL RSG Waste Management median
P/E n/m 32.75 35.70
P/S 3.14 4.21 3.00
P/B 2.91 5.91 1.49
Price to free cash flow 81.90 26.68 26.09
EV/EBITDA 16.32 15.79 15.78
EV/Sales 4.57 5.00 3.97
Earnings yield (1.21%) 3.05% 0.05%
Free cash flow yield 1.22% 3.75% 1.22%

Profitability

Metric GFL RSG Waste Management median
Gross margin 19.96% 42.00% 31.60%
Operating margin 7.99% 19.94% 0.50%
Net margin (1.75%) 12.94% 0.00%
Free cash flow margin 3.84% 15.78% 0.00%
Return on equity (1.58%) 18.14% 0.00%
Return on assets (0.61%) 6.37% 0.00%
Return on invested capital 2.00% 8.27% 0.00%

Growth

Metric GFL RSG Waste Management median
Revenue growth (TTM) (2.93%) 3.20% 5.74%
EPS growth (last fiscal year) 573.51% 5.55% 5.82%
Revenue growth, 5-year CAGR 8.61% 10.32% 12.80%
Net income growth, 5-year CAGR 0.00% 17.20% 0.00%

Health

Metric GFL RSG Waste Management median
Debt to equity 1.34 1.12 0.88
Current ratio 0.75 0.64 1.32
Net debt to EBITDA 4.10 2.47 2.03

Dividend

Metric GFL RSG Waste Management median
Dividend yield 0.15% 1.10% —
Payout ratio — 0.36 —

Size

Metric GFL RSG Waste Management median
Market cap 18.99b 70.32b 113.65m

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