RB Global, Inc.

Services-Business Services, Nec

RBAMixed9 of 11 basics passed

$85.84

+2.15%

Market cap $15.9B

$85.84

+2.15%

Market cap $15.9B

RB Global has evolved into a leading global marketplace that connects buyers and sellers of commercial assets and vehicles. It is the result of the 2023 combination of Ritchie Bros. and IAA.

It is a $15.9B technology company. Revenue grew 9.7% over the last year, it keeps 10¢ of every dollar of sales as profit, and its net debt equals ~3.1 years of free cash flow. It trades at 32.1× earnings — in the cheapest third of its own history.

Website: rbglobal.com
Location: Burnaby
Employees: 8 000
Sector: Technology
Founded: 1969

Share price · 3 years

$67.21 → $85.84+27.7%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $4.85B
Profit: keeps 10¢ of every $1 sold; $462M
Free cash flow: cash left after running the business; $611M
Net debt: debt minus cash on hand; $1.89B
P/E: years of profit in the price; 32.1
EPS: earnings per share, TTM; $2.47
Dividend: pays out 55% of profit · 45% of FCF; 1.72%
Shares: up 74% since 2016 — dilution; 186.9M
Volatility: beta vs the market — under 1 swings less; 0.16

Revenue, last 8 years

52-week range

Low $80.40$85.84High $119.14

Today's price is 14% of the way from the year's low to its high.

P/E vs its history5y

34.4×median 42.6×

Higher than 28% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

34.4×

72%

P/S

3.3×

94%

EV/EBITDA

25.4×

65%

P/B

2.6×

77%

FCF yield

3.8%

48%

Share of the last ~5 years that was pricier than today (cheaper than usual). Based on the daily valuation record.

Standing in Technology

Size$15.9Btop 65%
Revenue growth+38%top 7%
Net margin10%top 61%
Return on equity8%top 73%
P/E32.1×top 43%
Dividend yield1.72%top 26%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong growth and quality.

Valuation72

P/E vs own history28th pct · 20/25
FCF yield3.8% · 12/25
P/S3.2x · 20/25
EV/EBITDA13.9x · 20/25

Growth87

Revenue CAGR34.2% · 25/25
Net income CAGR29.6% · 25/25
EPS CAGR ~5Y8.3% · 12/25
Fwd implied growth84.9% · 25/25

Profitability50

ROIC5.7% · 5/25
ROE8.0% · 12/25
Net margin9.5% · 13/25
Operating margin16.0% · 20/25

Health52

Altman Z2.01 · 18/25
Current ratio1.31 · 12/25
Interest coverage4.0x · 10/25
Net cash / debtD/A 16% · 12/25

Quality77

Piotroski F6/9 · 15/25
Beneish M-2.63 · 25/25
FCF conversion132% · 25/25
Margin stabilityσ 9.0% · 12/25

Moat69

ROIC >12% years3/10 yrs · 6/25
Median gross margin49.7% · 20/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst 5.6% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Best year on record
$428M net income
2023Acquisition
Ritchie Bros. completed the acquisition of U.S
2022Acquisition
That acquisition attempt was discontinued in April 2022
2021Acquisition
The acquisition of Euro Auctions, a Northern Ireland auction house that buys and sells industrial…
FY2018Financial
Revenue crossed $1B
$1.17B for the year
2018Acquisition
Ritchie Bros. acquired Leake Auction Company, an Oklahoma-based collector car auctioneer
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Positive free cash flow every year since
10-year streak
2016Acquisition
The company announced its plan to acquire IronPlanet, Inc., an online auction company
1999Acquisition
Ritchie Bros. acquired Forke Brothers, an equipment auction company based in Nebraska, USA and one of its…
1998IPO
The year that Ritchie Bros. went public, the company's annual gross auction proceeds exceeded US$1 billion…
1969Founded
Ritchie Bros. established its first presence outside Canada in 1969 when it became incorporated in Washington, USA

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$13 850 today — price return only

$4.6B revenue in FY2025

Revenue up 9.7% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

8 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (45.6%)

Watch-outs

Net debt would take ~6.8 years of free cash flow to repay

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+9.7% YoY
Profitable — makes more than it spends$462M TTM
Profit growing — earnings are higher than last year-7.1% YoY
Generates cash — cash left after running and investing$611M TTM
Debt under control — could handle its obligations~3.1y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$15.9B market cap
Not printing shares — share count not ballooning — you keep your slice+69.4% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distressAltman Z 2.0 — grey
Pays a dividend — returns cash to shareholdersyield 1.72%
Valuation not extreme — price not wildly above earningsP/E 32.1

Peer comparisonRB Global, Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
RBA this company	$15.9B	32.1	+9.7%	9.5%	Mixed
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: RBA vs NVDA · RBA vs AAPL · RBA vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 5Hold 1

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $4.85B · net income $462M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$4.85B

YoY 9.7%

Net income (TTM)

$462M

Margin 9.5%

Gross margin

45.6%

Operating margin

16.0%

P/E ratio

32.1

Dividend yield

1.72%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	1.4	1.4	1.7	3.7	4.3	4.6
Gross profit	0.3	0.8	1.0	1.8	2.0	2.1
Operating income (EBIT)	0.3	0.2	0.5	0.5	0.8	0.7
Net income	0.2	0.2	0.3	0.2	0.4	0.4
EPS (diluted)	1.54	1.36	2.86	1.23	2.23	2.29

Cash flowFree cash flow $611M · operating cash flow $861M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$611M

Margin 12.6%

Operating cash flow (TTM)

$861M

FCF margin

12.6%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.3	0.3	0.5	0.5	0.9	1.0
Capital expenditure	-0.0	-0.0	-0.0	-0.2	-0.2	-0.3
Free cash flow	0.2	0.3	0.4	0.3	0.8	0.7
FCF margin	17.7%	21.7%	24.9%	8.6%	17.8%	15.7%

Balance sheetAssets $12.1B · net debt $1.89B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $12.1B of assets is financed

52%

48%

Liabilities $6.08B — borrowed moneyEquity $5.57B — owners' stake

Cash vs debt

Total debt $2.42B − cash $532M = net debt $1.89B

Cash on hand covers 22% of debt.

Altman Z-Score

2.01

Grey zone

Debt repayment

6.8 yrs

Years of free cash flow to clear net debt

Interest coverage

4.0x

EBIT ÷ interest expense

ROE

8.0%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.3	0.3	0.5	0.6	0.5	0.5
Total assets	2.4	3.6	2.9	12.0	11.8	12.1
Total liabilities	1.3	2.5	1.6	6.5	6.1	6.1
Total debt	0.7	1.7	0.6	3.1	2.6	2.4
Equity	1.0	1.1	1.3	5.0	5.2	5.6
Net debt	0.4	1.4	0.1	2.5	2.1	1.9

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of RBA on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $85.84 · market cap $15.9B.