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Side-by-side financial comparison of FLUOR CORP (FLR) and Republic Services (RSG). Click either name above to swap in a different company.
FLUOR CORP is the larger business by last-quarter revenue ($4.2B vs $4.1B, roughly 1.0× Republic Services). Republic Services runs the higher net margin — 13.2% vs -37.7%, a 50.8% gap on every dollar of revenue. On growth, Republic Services posted the faster year-over-year revenue change (2.2% vs -2.0%). Republic Services produced more free cash flow last quarter ($404.0M vs $-378.0M). Over the past eight quarters, FLUOR CORP's revenue compounded faster (5.7% CAGR vs 3.5%).
Fluor Corporation is an American engineering and construction firm, headquartered in Irving, Texas. It is a holding company that provides services through its subsidiaries in three main areas: oil and gas, industrial and infrastructure, government and power. It is the largest publicly traded engineering and construction company in the Fortune 500 rankings and is listed as 265th overall.
Republic Services, Inc. is a North American waste disposal company whose services include non-hazardous solid waste collection, waste transfer, waste disposal, recycling, and energy services. It is the second largest provider of waste disposal in the United States after Waste Management. Its operations primarily consist of providing collection, transfer, and disposal of non-hazardous solid waste, recovering and recycling of certain materials, and energy services. The company is 35.
FLR vs RSG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.2B | $4.1B |
| Net Profit | $-1.6B | $544.7M |
| Gross Margin | 3.2% | 41.9% |
| Operating Margin | 1.3% | 19.4% |
| Net Margin | -37.7% | 13.2% |
| Revenue YoY | -2.0% | 2.2% |
| Net Profit YoY | -184.4% | 6.3% |
| EPS (diluted) | $-9.40 | $1.76 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.2B | $4.1B | ||
| Q3 25 | $3.4B | $4.2B | ||
| Q2 25 | $4.0B | $4.2B | ||
| Q1 25 | $4.0B | $4.0B | ||
| Q4 24 | $4.3B | $4.0B | ||
| Q3 24 | $4.1B | $4.1B | ||
| Q2 24 | $4.2B | $4.0B | ||
| Q1 24 | $3.7B | $3.9B |
| Q4 25 | $-1.6B | $544.7M | ||
| Q3 25 | $-697.0M | $549.7M | ||
| Q2 25 | $2.5B | $549.9M | ||
| Q1 25 | $-241.0M | $495.0M | ||
| Q4 24 | $1.9B | $512.2M | ||
| Q3 24 | $54.0M | $565.7M | ||
| Q2 24 | $169.0M | $511.5M | ||
| Q1 24 | $59.0M | $453.8M |
| Q4 25 | 3.2% | 41.9% | ||
| Q3 25 | -13.3% | 41.5% | ||
| Q2 25 | 1.4% | 42.2% | ||
| Q1 25 | 3.5% | 42.3% | ||
| Q4 24 | 4.9% | 42.7% | ||
| Q3 24 | 2.1% | 41.9% | ||
| Q2 24 | 4.2% | 41.1% | ||
| Q1 24 | 2.7% | 40.9% |
| Q4 25 | 1.3% | 19.4% | ||
| Q3 25 | -14.7% | 19.8% | ||
| Q2 25 | -0.7% | 20.3% | ||
| Q1 25 | 2.3% | 20.1% | ||
| Q4 24 | 4.4% | 19.9% | ||
| Q3 24 | 1.2% | 20.8% | ||
| Q2 24 | 4.2% | 20.1% | ||
| Q1 24 | 1.4% | 19.0% |
| Q4 25 | -37.7% | 13.2% | ||
| Q3 25 | -20.7% | 13.1% | ||
| Q2 25 | 61.8% | 13.0% | ||
| Q1 25 | -6.1% | 12.3% | ||
| Q4 24 | 43.7% | 12.7% | ||
| Q3 24 | 1.3% | 13.9% | ||
| Q2 24 | 4.0% | 12.6% | ||
| Q1 24 | 1.6% | 11.8% |
| Q4 25 | $-9.40 | $1.76 | ||
| Q3 25 | $-4.30 | $1.76 | ||
| Q2 25 | $14.81 | $1.75 | ||
| Q1 25 | $-1.42 | $1.58 | ||
| Q4 24 | $10.68 | $1.63 | ||
| Q3 24 | $0.31 | $1.80 | ||
| Q2 24 | $0.97 | $1.62 | ||
| Q1 24 | $0.34 | $1.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.2B | $76.0M |
| Total DebtLower is stronger | — | $13.0B |
| Stockholders' EquityBook value | $3.2B | $12.0B |
| Total Assets | $8.2B | $34.4B |
| Debt / EquityLower = less leverage | — | 1.08× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2B | $76.0M | ||
| Q3 25 | $2.8B | $84.0M | ||
| Q2 25 | $2.3B | $122.0M | ||
| Q1 25 | $2.5B | $83.0M | ||
| Q4 24 | $3.0B | $74.0M | ||
| Q3 24 | $3.0B | $83.4M | ||
| Q2 24 | $2.7B | $490.6M | ||
| Q1 24 | $2.4B | $91.6M |
| Q4 25 | — | $13.0B | ||
| Q3 25 | — | $12.4B | ||
| Q2 25 | — | $12.5B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $11.9B | ||
| Q3 24 | — | $12.0B | ||
| Q2 24 | — | $11.5B | ||
| Q1 24 | — | $11.4B |
| Q4 25 | $3.2B | $12.0B | ||
| Q3 25 | $5.2B | $11.9B | ||
| Q2 25 | $5.9B | $12.1B | ||
| Q1 25 | $3.6B | $11.7B | ||
| Q4 24 | $3.9B | $11.4B | ||
| Q3 24 | $2.3B | $11.2B | ||
| Q2 24 | $2.1B | $11.0B | ||
| Q1 24 | $2.0B | $10.8B |
| Q4 25 | $8.2B | $34.4B | ||
| Q3 25 | $11.5B | $33.8B | ||
| Q2 25 | $11.8B | $33.4B | ||
| Q1 25 | $8.4B | $33.1B | ||
| Q4 24 | $9.1B | $32.4B | ||
| Q3 24 | $7.1B | $31.8B | ||
| Q2 24 | $6.8B | $31.9B | ||
| Q1 24 | $6.7B | $31.4B |
| Q4 25 | — | 1.08× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.04× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-366.0M | $981.0M |
| Free Cash FlowOCF − Capex | $-378.0M | $404.0M |
| FCF MarginFCF / Revenue | -9.1% | 9.8% |
| Capex IntensityCapex / Revenue | 0.3% | 14.0% |
| Cash ConversionOCF / Net Profit | — | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $-437.0M | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-366.0M | $981.0M | ||
| Q3 25 | $286.0M | $1.2B | ||
| Q2 25 | $-21.0M | $1.1B | ||
| Q1 25 | $-286.0M | $1.0B | ||
| Q4 24 | $327.0M | $1.0B | ||
| Q3 24 | $330.0M | $1.0B | ||
| Q2 24 | $282.0M | $1.1B | ||
| Q1 24 | $-111.0M | $811.5M |
| Q4 25 | $-378.0M | $404.0M | ||
| Q3 25 | $273.0M | $737.0M | ||
| Q2 25 | $-35.0M | $702.0M | ||
| Q1 25 | $-297.0M | $566.0M | ||
| Q4 24 | $296.0M | $524.4M | ||
| Q3 24 | $279.0M | $563.6M | ||
| Q2 24 | $234.0M | $696.0M | ||
| Q1 24 | $-145.0M | $297.0M |
| Q4 25 | -9.1% | 9.8% | ||
| Q3 25 | 8.1% | 17.5% | ||
| Q2 25 | -0.9% | 16.6% | ||
| Q1 25 | -7.5% | 14.1% | ||
| Q4 24 | 6.9% | 13.0% | ||
| Q3 24 | 6.8% | 13.8% | ||
| Q2 24 | 5.5% | 17.2% | ||
| Q1 24 | -3.9% | 7.7% |
| Q4 25 | 0.3% | 14.0% | ||
| Q3 25 | 0.4% | 10.5% | ||
| Q2 25 | 0.4% | 9.6% | ||
| Q1 25 | 0.3% | 11.4% | ||
| Q4 24 | 0.7% | 12.3% | ||
| Q3 24 | 1.2% | 10.8% | ||
| Q2 24 | 1.1% | 10.0% | ||
| Q1 24 | 0.9% | 13.3% |
| Q4 25 | — | 1.80× | ||
| Q3 25 | — | 2.15× | ||
| Q2 25 | -0.01× | 2.02× | ||
| Q1 25 | — | 2.07× | ||
| Q4 24 | 0.18× | 2.00× | ||
| Q3 24 | 6.11× | 1.77× | ||
| Q2 24 | 1.67× | 2.15× | ||
| Q1 24 | -1.88× | 1.79× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLR
| Urban Solutions Segment | $2.6B | 63% |
| Energy Solutions Segment | $943.0M | 23% |
| Mission Solutions Segment | $600.0M | 14% |
RSG
| Other | $1.1B | 26% |
| Landfill Service Line | $780.0M | 19% |
| Collection Service Line Residential | $761.0M | 18% |
| Transfer Service Line | $458.0M | 11% |
| Environmental Solutions Service Line | $435.0M | 11% |
| Group3Segment | $423.0M | 10% |
| Other Service Line Sale Of Recycled Commodities | $104.0M | 3% |
| Other Service Line Other Noncore | $94.0M | 2% |
| Collection Service Line Other | $18.0M | 0% |
