GFL Environmental Inc. vs REPUBLIC SERVICES, INC., two Waste Management stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Republic Services is a national collector earning 18.11% on equity at an 11.34% net margin, priced at 31.06 times earnings and 5.59 times book. GFL Environmental is the Canadian challenger, and its reported profits are inflated by a one-off asset sale, so the fair way to read it is the cash and the balance sheet. GFL converts 7.03% of its price into free cash flow, nearly double Republic's 3.87%, and trades at a far cheaper 2.50 times book. Republic carries meaningful borrowing, 1.11 debt to equity, while GFL has pared its net leverage down. Republic at $66.9B is roughly five times GFL at $13.8B, older and more richly valued per dollar of net assets.
Comparison updated 2026-07-11.
| Metric | GFL | RSG |
|---|---|---|
| Price | $39.73 | $219.11 |
| Market cap | $14.7B | $67.8B |
| Sector | Waste Management | Waste Management |
| Stage | Mature | Mature |
| Implied growth (priced in) | — | +8.1% |
| P/E | 5.3 | 31.4 |
| P/B | 2.67 | 5.66 |
| P/S | 3.02 | 3.54 |
| EV/EBITDA | — | 15.7 |
| Revenue growth | +8.1% | +3.0% |
| Operating margin | — | 17.7% |
| Net margin | 57.6% | 11.3% |
| Return on equity | 50.9% | 18.1% |
| Return on assets | 19.8% | 6.3% |
| Return on invested capital | — | 10.5% |
| FCF yield | 6.6% | 3.8% |
| Dividend yield | — | 1.1% |
| Debt / equity | 0.00 | 1.11 |
| Current ratio | 0.58 | 0.67 |
| Altman Z (solvency) | 1.32 | 7.05 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.