{"slug":"republic-services","name":"리퍼블릭 서비스","name_en":"Republic Services, Inc.","ticker":"RSG","updated_at":"2026-09-11T20:21:13.25657+00:00","canonical":"https://valuechain.wiki/republic-services","citable":"밸류체인 그래프 기준 리퍼블릭 서비스의 직접 연결 기업은 2곳(관계 기준 공급 2·매출 0)이고, 사슬을 2차까지 넓히면 4곳에 닿는다. 링크의 근거 출처는 10건이며 그중 1차공시가 3건이다 (valuechain.wiki, 2026-09-11 기준).","citable_en":"Per the valuechain.wiki graph, Republic Services, Inc. is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 4 companies within two hops; the links are backed by 10 dated sources, 3 of them primary filings (as of 2026-09-11).","kicker":"북미 통합 환경서비스사","kicker_en":"North American integrated environmental services provider","lead":"리퍼블릭 서비스는 북미에서 폐기물 수거, 운송, 재활용, 매립과 환경 솔루션을 제공한다. 지자체와 기업의 장기 서비스 계약에서 매출을 얻고, 수거차 엔진과 매립장 중장비에 비용을 쓰며 인수와 합작투자로 처리 역량을 넓힌다.","lead_en":"Republic Services provides waste collection, transfer, recycling, landfill and environmental solutions across North America. It earns revenue from long-term municipal and commercial service contracts, spends on collection-fleet engines and landfill equipment, and expands its treatment capabilities through acquisitions and joint ventures.","categories":[{"key":"environmental-water-services-systems","ko":"환경·수처리 서비스와 설비","en":"Environmental & Water Services and Systems","theme":"industrial-infrastructure","theme_ko":"산업 인프라·중공업","theme_en":"Industrial Infrastructure & Heavy Industry","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"그룹 1","note":"미국 서부의 재활용·폐기물 사업, FY2025 순매출 75억 900만 달러"},{"name":"그룹 2","note":"미국 남동부·중서부·동부 해안과 캐나다의 재활용·폐기물 사업, FY2025 순매출 73억 1,600만 달러"},{"name":"그룹 3 환경 솔루션","note":"북미의 유해·특수 폐기물 처리와 현장 서비스, FY2025 순매출 17억 6,600만 달러"}],"total":"FY2025 고객계약 매출 165억9,100만달러 (SEC 10-K XBRL)","track":"C"},"segments_en":{"parts":[{"name":"Group 1","note":"Recycling and waste operations in the western United States; FY2025 net revenue of $7.509 billion"},{"name":"Group 2","note":"Recycling and waste operations in the southeastern, midwestern and eastern United States and Canada; FY2025 net revenue of $7.316 billion"},{"name":"Group 3 Environmental Solutions","note":"Hazardous and specialty waste treatment and field services across North America; FY2025 net revenue of $1.766 billion"}],"total":"FY2025 revenue from contracts with customers of $16.591 billion (SEC 10-K XBRL)"},"returns_yearly":{"2021":47,"2022":-6.2,"2023":29.6,"2024":23,"2025":6.4,"2026":3.6},"return_asof":"2026-10-09","value_chain":{"leading":[],"benefiting":[{"slug":"caterpillar","name":"Caterpillar","name_en":"Caterpillar","tier":1,"returns_yearly":{"2021":16,"2022":18.6,"2023":25.9,"2024":24.7,"2025":60.3,"2026":40.6}},{"slug":"cummins","name":"Cummins","name_en":"Cummins","tier":1,"returns_yearly":{"2021":-1.7,"2022":14.1,"2023":1.7,"2024":48.9,"2025":49.4,"2026":11}},{"slug":"nucor","name":"뉴코","name_en":"Nucor Corporation","tier":2,"returns_yearly":{"2021":118.4,"2022":17.4,"2023":33.8,"2024":-32,"2025":42,"2026":54.7}},{"slug":"united-rentals","name":"유나이티드 렌탈스","name_en":"United Rentals","tier":2,"returns_yearly":{"2021":43.3,"2022":7,"2023":63.6,"2024":24,"2025":15.9,"2026":31.3}},{"slug":"ford-motor-company","name":"포드","name_en":"Ford Motor Company","tier":3,"returns_yearly":{"2021":137.5,"2022":-42.2,"2023":15.8,"2024":-13.1,"2025":42.3,"2026":15.3}},{"slug":"nuscale","name":"NuScale Power","name_en":"NuScale Power","tier":3,"returns_yearly":{"2023":-67.9,"2024":445,"2025":-21,"2026":-49.2}}],"analysis":"북미 통합 환경서비스사 기업. 최근 몇 년간 견조한 상승이 이어졌고 2026년 +6%다. 공급단(평균 +27%)이 본주(+6%)보다 앞서 있다. 지출이 아래로 번지며 공급사 쪽 탄력이 먼저 나타나는 구도다. 연결 노드 중 가장 앞선 곳은 캐터필러(+42.9%), 가장 처진 곳은 커민스(+11%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"Republic Services, Inc. operates across North American integrated environmental services provider. It stayed steadily positive in recent years and is +6% in 2026. The supply side (avg +27%) leads the stock (+6%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Caterpillar (+42.9%) and the furthest behind is Cummins (+11%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It earns revenue from long-term municipal and commercial service contracts, spends on collection-fleet engines and landfill equipment, and expands its treatment capabilities through acquisitions and joint ventures.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"US Ecology","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2022-05-02","basis":"US Ecology 인수의 총 거래가치, 인수 부채 포함·취득 현금 차감","value":2200000000,"period":"acquisition completed 2022-05-02","basis_en":"Total value of the US Ecology acquisition, including debt and net of cash acquired","qualifier":null},"note":"Republic Services는 2022년 5월 US Ecology를 인수해 유해·특수 폐기물 처리와 현장 서비스 역량을 환경 솔루션 사업에 편입했다. 총 거래가치는 인수 부채와 취득 현금을 반영해 22억 달러였다.","note_en":"Republic Services acquired US Ecology in May 2022, adding hazardous and specialty waste treatment and field-service capabilities to its Environmental Solutions business. Total transaction value was $2.2 billion including debt and net of cash acquired.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-18","url":"https://www.sec.gov/Archives/edgar/data/1060391/000106039126000094/rsg-20251231.htm","title":"REPUBLIC SERVICES, INC. 10-K (2026-02-18)","title_en":"REPUBLIC SERVICES, INC. 10-K (2026-02-18)","excerpt":"2025년 10-K는 2023년에 US Ecology 인수 통합·거래 비용이 발생했다고 공시한다.","excerpt_en":"Other segment items during the year ended December 31, 2023, consist of US Ecology, Inc. acquisition integration and deal costs."},{"stance":"confirms","publisher":"Houlihan Lokey","publisher_en":"Houlihan Lokey","kind":"analysis","lang":"en","published_at":"2022-05-02","url":"https://hl.com/about-us/transactions/houlihan-lokey-advises-us-ecology/","title":"Houlihan Lokey의 US Ecology 매각 자문","title_en":"Houlihan Lokey Advises US Ecology","excerpt":"거래 자문사는 US Ecology가 주당 48달러, 약 22억 달러 기업가치로 Republic Services에 매각됐다고 밝혔다.","excerpt_en":"The sale of US Ecology ... to Republic Services ... for $48.00 per share, representing an enterprise value of approximately $2.2 billion."},{"stance":"confirms","publisher":"Republic Services","publisher_en":"Republic Services","kind":"ir","lang":"en","published_at":"2022-05-02","url":"https://investor.republicservices.com/news-releases/news-release-details/republic-services-completes-acquisition-us-ecology","title":"Republic Services, US Ecology 인수 완료","title_en":"Republic Services Completes Acquisition of US Ecology","excerpt":"Republic Services는 2022년 5월 2일 US Ecology의 모든 발행주식 인수를 완료했다.","excerpt_en":"Republic Services ... completed its acquisition of all outstanding shares of US Ecology, Inc."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2022-02-09","url":"https://www.sec.gov/Archives/edgar/data/1783400/000110465922018983/tm225977d1_8k.htm","title":"US ECOLOGY, INC. 8-K (2022-02-09)","title_en":"US ECOLOGY, INC. 8-K (2022-02-09)","excerpt":"US Ecology는 Republic Services 및 그 완전자회사와 합병계약을 체결했다.","excerpt_en":"US Ecology, Inc. entered into an Agreement and Plan of Merger with Republic Services, Inc."}]},{"direction":"revenue","counterparty":"샌디에이고시","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2025-03-18","basis":"샌디에이고시 시설 쓰레기·재활용 서비스 계약 낙찰액","value":14500000,"period":"contract awarded 2025-03-18","basis_en":"Award value for City of San Diego facilities trash and recycling services contract","qualifier":null},"note":"샌디에이고시는 2025년 시 소유 시설의 쓰레기·재활용 서비스 계약을 Republic Services에 발주했다. 공식 계약 목록의 낙찰액은 1,450만 달러다.","note_en":"The City of San Diego awarded Republic Services a 2025 contract for trash and recycling services at city facilities. The city's official contract list reports an award value of $14.5 million.","sources":[{"stance":"confirms","publisher":"샌디에이고시","publisher_en":"City of San Diego","kind":"news","lang":"en","published_at":"2025-03-18","url":"https://www.sandiego.gov/purchasing/bids-contracts/contracts2025","title":"2025 회계연도 상품 및 서비스 계약","title_en":"Goods and Services Contracts FY2025","excerpt":"시 시설 쓰레기·재활용 서비스 계약은 1,450만 달러에 Republic Services가 낙찰받았다.","excerpt_en":"City Facilities Trash and Recycling Services ... $14,500,000.00 ... Republic Services."}]},{"direction":"investor","counterparty":"캐스케이드 인베스트먼트·빌 게이츠","counterparty_slug":null,"confidence":"high","metric":{"type":"share","unit":"%","as_of":"2026-02-20","basis":"Cascade Investment와 빌 게이츠의 Republic Services 실질 보유지분","value":35.6,"period":"Schedule 13D/A filed 2026-02-20","basis_en":"Beneficial ownership of Republic Services attributed to Cascade Investment and William H. Gates III","qualifier":null},"note":"SEC에 따르면 Cascade Investment가 보유한 Republic Services 주식은 단독 회원인 빌 게이츠의 실질 소유로 간주될 수 있다. 2026년 2월 공시 기준 보유지분은 35.6%이며, 한국어 기사도 빌 게이츠의 RSG 투자를 확인한다.","note_en":"According to the SEC filing, Republic Services shares held by Cascade Investment may be deemed beneficially owned by its sole member, Bill Gates. The reported stake was 35.6% in February 2026, and Korean coverage independently identifies Gates as an RSG investor.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-20","url":"https://www.sec.gov/Archives/edgar/data/1060391/000110465926018163/xslSCHEDULE_13D_X01/primary_doc.xml","title":"Cascade Investment·William H. Gates III Schedule 13D/A (2026-02-20)","title_en":"Cascade Investment and William H. Gates III Schedule 13D/A (2026-02-20)","excerpt":"Cascade와 빌 게이츠는 Republic Services 주식 1억 981만 6,832주, 35.6%를 실질 보유한 것으로 공시했다.","excerpt_en":"Aggregate amount beneficially owned ... 109,816,832.00 ... Percent of class ... 35.6%."},{"stance":"confirms","publisher":"대한경제","publisher_en":"DNews","kind":"news","lang":"ko","published_at":"2023-03-08","url":"https://www.dnews.co.kr/uhtml/view.jsp?idxno=202303081420359680718","title":"[스타트업 스토리] 다양한 에너지원으로 재생산, 폐기물 고정관념 깨고 싶었다","title_en":"Startup Story: Turning Waste into Diverse Energy Sources","excerpt":"빌 게이츠가 선택한 기업은 미국 폐기물 관리 기업 리퍼블릭서비스라고 보도했다.","excerpt_en":"The article reports that Bill Gates invested in U.S. waste-management company Republic Services."}]},{"direction":"revenue","counterparty":"커머스시","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2025-06-16","basis":"커머스시 도시 전역 쓰레기·재활용 수거 계약에서 Republic Services에 귀속되는 매출액","value":null,"period":"five-year contract awarded 2025","basis_en":"Revenue attributable to Republic Services under the Commerce City citywide trash and recycling collection contract","qualifier":"confirmed_no_disclosed_value"},"note":"콜로라도주 커머스시는 2025년 경쟁입찰을 거쳐 Republic Services에 5년짜리 도시 전역 쓰레기·재활용 수거 계약을 발주했다. 계약 금액은 공개 문서에서 확정하지 못했다.","note_en":"Commerce City, Colorado awarded Republic Services a five-year citywide trash and recycling collection contract after a competitive 2025 procurement. The public record reviewed does not disclose a finalized contract value.","sources":[{"stance":"confirms","publisher":"커머스시 시의회","publisher_en":"Commerce City Council","kind":"news","lang":"en","published_at":"2025-06-16","url":"https://commerce.legistar.com/LegislationDetail.aspx?GUID=8AA7C705-3C81-4402-8FF2-0B9403E1FE06&ID=7434824&Options=&Search=","title":"결의안 2025-089: Republic Services 폐기물 수거 계약 발주","title_en":"Resolution 2025-089: Award of Refuse Collection Contract to Republic Services","excerpt":"시의회는 Republic Services에 폐기물 수거 서비스 계약을 발주하는 결의안을 채택했다.","excerpt_en":"A resolution authorizing award of a contract for refuse collection services to Republic Services, Inc."}]},{"direction":"cost","counterparty":"Cummins","counterparty_slug":"cummins","confidence":"mid","metric":{"type":"count","unit":"vehicles","as_of":"2010-03-31","basis":"Cummins Westport 엔진을 탑재해 배치한 Republic Services 천연가스 차량 수","value":226,"period":"2010 fleet deployment","basis_en":"Republic Services natural-gas vehicles deployed with Cummins Westport engines","qualifier":null},"note":"Republic Services가 2010년 미국 서부 사업장에 배치한 천연가스 수거차 226대에는 Cummins Westport 엔진이 탑재됐다. 엔진 구매액은 공개되지 않았다.","note_en":"The 226 natural-gas collection vehicles Republic Services deployed to western U.S. operations in 2010 used Cummins Westport engines. The engine purchase value was not disclosed.","sources":[{"stance":"confirms","publisher":"Republic Services","publisher_en":"Republic Services","kind":"ir","lang":"en","published_at":"2010-03-31","url":"https://investor.republicservices.com/news-releases/news-release-details/republic-services-refuse-and-recycling-fleet-gets-greener","title":"Republic Services의 폐기물·재활용 차량 친환경 전환","title_en":"Republic Services' Refuse and Recycling Fleet Gets Greener","excerpt":"차대는 Autocar가, 엔진은 Cummins Westport가 제작했다.","excerpt_en":"Vehicle chassis are built by Autocar and the engines by Cummins Westport."}]},{"direction":"cost","counterparty":"Caterpillar","counterparty_slug":"caterpillar","confidence":"mid","metric":{"type":"count","unit":"bulldozers","as_of":"2024-07-24","basis":"Republic Services가 운영 중이라고 보고한 Caterpillar 전기구동 불도저 수","value":18,"period":"2023","basis_en":"Caterpillar electric-drive bulldozers reported in operation by Republic Services","qualifier":null},"note":"Republic Services는 매립장·환적장·재활용 시설의 Caterpillar 중장비에 상태 모니터링과 오일 분석 서비스를 적용한다. 2023년 지속가능성 보고서는 Caterpillar 전기구동 불도저 18대를 운영 중이라고 밝혔다.","note_en":"Republic Services uses Caterpillar heavy equipment, condition monitoring and oil-analysis services across landfills, transfer stations and recycling facilities. Its 2023 sustainability report says 18 Caterpillar electric-drive bulldozers were in operation.","sources":[{"stance":"confirms","publisher":"Republic Services","publisher_en":"Republic Services","kind":"ir","lang":"en","published_at":"2024-07-24","url":"https://investor.republicservices.com/static-files/2023-Republic-Services-Sustainability-Report.pdf","title":"Republic Services 2023 지속가능성 보고서","title_en":"Republic Services 2023 Sustainability Report","excerpt":"Republic Services는 2023년 Caterpillar와 중장비 유지보수 협력을 시작했다.","excerpt_en":"In 2023, we launched an innovative maintenance partnership with Caterpillar (CAT)."}]}]}