# RB Global, Inc. (RBA) — Stock CV

RB Global, Inc. 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.

> 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.

## Identity

- **Ticker**: RBA
- **Sector**: Technology
- **Industry**: Services-Business Services, Nec
- **Headquarters**: BURNABY
- **Employees**: 8 000
- **Website**: https://www.rbglobal.com
- **Market cap**: $15.9B
- **Last price**: $85.84
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $4.85B
- **Net income**: $462M
- **Free cash flow**: $611M
- **Net debt**: $1.89B
- **P/E**: 32.1
- **Revenue growth (YoY)**: 9.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 72 |
| Growth | 87 |
| Profitability | 50 |
| Health | 52 |
| Quality | 77 |
| Moat | 69 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +9.7% YoY
- [x] Profitable — $462M TTM
- [ ] Profit growing — -7.1% YoY
- [x] Generates cash — $611M TTM
- [x] Debt under control — ~3.1y of cash flow to repay
- [x] Established company — $15.9B market cap
- [ ] Not printing shares — +69.4% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [x] Financially stable — Altman Z 2.0 — grey
- [x] Pays a dividend — yield 1.72%
- [x] Valuation not extreme — P/E 32.1

## Experience (career milestones)

- **FY2025** — Best year on record: $428M net income
- **2023** — Ritchie Bros. completed the acquisition of U.S
- **2022** — That acquisition attempt was discontinued in April 2022
- **2021** — The acquisition of Euro Auctions, a Northern Ireland auction house that buys and sells industrial…
- **FY2018** — Revenue crossed $1B: $1.17B for the year
- **2018** — Ritchie Bros. acquired Leake Auction Company, an Oklahoma-based collector car auctioneer
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — The company announced its plan to acquire IronPlanet, Inc., an online auction company
- **1999** — Ritchie Bros. acquired Forke Brothers, an equipment auction company based in Nebraska, USA and one of its…
- **1998** — The year that Ritchie Bros. went public, the company's annual gross auction proceeds exceeded US$1 billion…
- **1969** — Ritchie Bros. established its first presence outside Canada in 1969 when it became incorporated in Washington, USA

## Strengths

- High gross margin (45.6%)

## Watch-outs

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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.42B | $152M | $308M |
| FY2022 | $1.73B | $320M | $431M |
| FY2023 | $3.68B | $207M | $316M |
| FY2024 | $4.28B | $413M | $765M |
| FY2025 | $4.59B | $428M | $719M |

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Source: https://stockcv.com/RBA — derived from company filings; may be delayed or incomplete. Information, not investment advice.