Quest Resource Holding Corp
Quest Resource Holding Corp. is a U.S.-based waste and recycling management company that designs and runs customer-specific programs for the collection, processing, recycling, disposal, and tracking of waste streams and recyclables. Its services are used by large, multi-location businesses across multiple industries, with an emphasis on centralized program management, compliance, and resource recovery.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCustomer-specific programs for collection, processing, disposal, and recycling of waste streams.
Revenue from selling recovered materials such as cardboard, metal, paper, plastics, and oil-related recyclables.
Recurring management fees, contracted pricing, and shared-savings arrangements.
Products and equipment such as antifreeze, windshield washer fluid, dumpsters, and compactors.
Products
Reported · share of revenue- Services94.8 %
- Product Sales and Other5.0 %
- Management Fee0.1 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Quest serves large, multi-location businesses that need centralized management of complex waste streams across many sites. Its customer base is concentrated in Fortune 1000-type accounts and spans industries such as automotive, manufacturing, logistics, hospitality, retail, healthcare, and construction. Customers buy Quest’s services to reduce waste-handling complexity, improve compliance, gain reporting visibility, and lower total disposal costs.
Buy centralized waste and recycling program management to standardize service across many sites and reduce administrative burden.
Buy services for production-related waste streams, recycling, and disposal tied to operating volume.
Buy recurring waste handling and recycling support for warehouses, distribution centers, and transport facilities.
Buy outsourced waste and recycling coordination to manage many locations with consistent service and reporting.
Buy compliant handling of regulated and mixed waste streams plus consolidated invoicing and reporting.
Strategy
Quest’s strategy centers on winning and retaining large multi-site customers with a one-stop waste and recycling platform that combines service coordination, invoice control, and reporting. It also seeks to broaden its customer base and service mix so that revenue is less dependent on a small number of large accounts and more resilient across end markets.
Diversifies revenue and reduces concentration risk from a few large accounts.
More waste streams and ancillary services increase wallet share and switching costs.
Invoice auditing and service optimization are core to the value proposition.
Geography
Quest operates as a national provider in the United States, with sales and service delivery organized around a broad domestic customer base rather than a single regional market. Its operating model depends on coordinating local haulers, processors, and recycling outlets across the country, which makes national coverage and logistics management central to the business.
Risks
Quest is exposed to customer concentration, since a small number of large accounts can represent a meaningful share of revenue and contracts may not include firm volume commitments. It also faces commodity price volatility, competitive pressure from large waste companies, cybersecurity risk, and execution risk tied to managing a fragmented national service network.
- Customer concentrationImpact: HighLikelihood: Medium
One customer represented 23% of revenue in 2025, so account loss would materially reduce sales.
Exposure: Large enterprise accounts
- No firm volume commitmentsImpact: HighLikelihood: Medium
Customers can cancel, reduce, or delay services, which makes revenue less predictable.
Exposure: Multi-year service contracts
- Commodity price volatilityImpact: MediumLikelihood: Medium
Sales of recyclables such as cardboard, metal, oil, and plastics depend on market prices.
Exposure: Recyclable material sales
- Competitive pressure from large waste firmsImpact: MediumLikelihood: Medium
Large landfill and disposal companies have greater scale, resources, and market recognition.
Exposure: National waste and recycling services
- Cybersecurity and IT disruptionImpact: MediumLikelihood: Medium
The business relies on systems for billing, tracking, and customer reporting.
Exposure: Customer data and service operations
Accounting
Judgemental itemsBilling and collection timing matter in a service business with recurring invoices and customer-specific programs.
Impact: Affects net revenue and operating cash flow
Management must test goodwill when market capitalization or business conditions weaken.
Impact: Can create large non-cash charges
Customer relationship intangibles depend on future customer activity and retention.
Impact: Can reduce reported earnings through impairment
Revenue comes from management fees, contracted pricing, shared savings, and commodity sales.
Impact: Affects comparability across periods
Similar listed companies
Publicly listed companies with a comparable business focus.
Quest Water Global, Inc.
QWTR · Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
Quest Patent Research Corp
QPRC · Wholesale-Miscellaneous Nondurable Goods
Republic Services, Inc
RSG · Refuse Systems
Republic Services is a U.S.-based environmental services company that collects, transfers, recycles, treats, and disposes of waste for residential, commercial, industrial, and municipal customers.
Quest Diagnostics Incorporated
DGX · Services-Medical Laboratories
Quest Diagnostics is a U.S.-based clinical laboratory company that provides diagnostic testing, pathology, and related information services through a…
Avalon Holdings Corporation
AWX · Refuse Systems
Waste Energy Corp.
WAST · Services-Business Services, NEC
Last updated: 24/09/2026