Our Reports on Stocks in the Environmental Services Industry
Image: Republic’s Apex landfill in Las Vegas. Structure of the Environmental Services Industry The oligopolistic US non-hazardous solid-waste services industry is dominated by Waste Management, Republic Services and Waste Connections, which collectively generate over half of industry revenue and control an equal percentage of valuable disposal capacity. Most operators boast strong returns on capital and predictable cash flow streams, buoyed in part by real pricing expansion. The landfill business has significant barriers to entry, while Stericycle’s niche in the medical-waste industry and US Ecology’s monopolistic radioactive waste disposal assets are compelling. We like the structure of the group. We’ve optimized our industrials coverage. Our reports can be found here.