RB Global, Inc.
- Open
- 116.63
- Day high
- 116.63
- Day low
- 114.71
- Prev close
- 116.45
- Volume
- 115K
- Mkt cap
- $21.5B
- P/E (TTM)
- 52.8
- EPS (TTM)
- $2.18
- P/B
- 3.5
- P/S
- 4.5
- Yield
- 1.08%
- Per share
- $1.24
- ▲Insiders net buying $11K over the last 3 months (1 open-market buy, 2 sales)
- 🏛Institutions mixed (13F)
RB Global, Inc. (RBA) is a Industrials company listed on NYSE. The stock is up 10% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 2 sales (SEC Form 4).
RB Global, Inc. (RBA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RBA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 4, 2026 | $0.97 | $0.95 | -2.1% | $1.2B | +6.6% |
| Feb 17, 2026 | $0.99 | $1.11 | +12.1% | $1.2B | +5.9% |
| Nov 6, 2025 | $0.82 | $0.93 | +13.4% | $1.1B | -6.0% |
| Aug 6, 2025 | $0.95 | $1.07 | +12.6% | $1.2B | +13.3% |
| Feb 18, 2025 | $0.81 | $0.95 | +17.3% | $1.1B | +7.5% |
| Nov 8, 2024 | $0.62 | $0.71 | +14.5% | $982M | -7.6% |
| May 9, 2024 | $0.73 | $0.90 | +23.3% | $1.1B | +5.4% |
| Feb 23, 2024 | $0.68 | $0.82 | +20.6% | $1.1B | +2.5% |
| Nov 9, 2023 | $0.52 | $0.72 | +38.5% | $1.0B | +5.7% |
| Aug 3, 2023 | $0.77 | $0.85 | +10.4% | $1.1B | +13.9% |
| Feb 21, 2023 | $0.58 | $0.68 | +17.2% | $444M | +5.2% |
| Aug 4, 2022 | $0.63 | $0.74 | +17.5% | $485M | +11.2% |
RBA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 26, 2026 | Carlson Christopherofficer: Chief Accounting Officer | Sell | 150 | $115.00 |
| Jun 23, 2026 | Stein Deborahdirector | Grant | 5 | — |
| Jun 23, 2026 | Elton Robert Georgedirector | Grant | 96 | — |
| Jun 23, 2026 | O'Day Timothy J.director | Grant | 7 | — |
| Jun 23, 2026 | Bales Brian Adirector | Grant | 6 | — |
| Jun 23, 2026 | O'Day Timothy J.director | Grant | 6 | — |
| Jun 23, 2026 | Stephenson Caroldirector | Grant | 5 | — |
| Jun 23, 2026 | Stephenson Caroldirector | Grant | 6 | — |
| Jun 23, 2026 | Bales Brian Adirector | Grant | 8 | — |
| Jun 23, 2026 | Elton Robert Georgedirector | Grant | 10 | — |
| Jun 23, 2026 | Bales Brian Adirector | Grant | 7 | — |
| Jun 23, 2026 | Stephenson Caroldirector | Grant | 8 | — |
| Jun 23, 2026 | Elton Robert Georgedirector | Grant | 7 | — |
| Jun 23, 2026 | Stein Deborahdirector | Grant | 6 | — |
| Jun 23, 2026 | O'Day Timothy J.director | Grant | 8 | — |
Source: RBA SEC Form 4 filings, latest Jun 26, 2026. For informational purposes only — not investment advice.
See the full RBA insider & 13F page →RB Global, Inc. company profile
Overview
RB Global, Inc. (NASDAQ:RBA) is a leading omnichannel marketplace company that facilitates the buying and selling of commercial assets and vehicles worldwide. Founded in 1958 as Ritchie Bros. Auctioneers, the company has evolved from a traditional auction house into a comprehensive digital marketplace platform. Through strategic acquisitions, particularly the transformative purchase of IAA in 2022, RB Global has expanded its reach across multiple asset classes and geographic markets. Today, the company operates as a technology-enabled marketplace connecting buyers and sellers of everything from construction equipment to salvaged vehicles, serving customers across automotive, commercial transportation, construction, government surplus, and agricultural sectors.
Business
RB Global operates as a comprehensive marketplace for commercial assets and vehicles, functioning essentially as the "eBay for heavy equipment and salvaged cars." The company facilitates transactions between sellers who need to dispose of assets and buyers looking to acquire them, taking a commission on each transaction while providing various ancillary services. The business operates through two primary segments that generate distinct revenue streams: 1. **Automotive Segment (approximately 60-65% of revenue)**: This division, primarily operated through the IAA brand, serves as a digital marketplace for salvaged and total-loss vehicles. When insurance companies declare vehicles as total losses after accidents, they need to recover value from these damaged assets. IAA provides facilities where these vehicles are stored, photographed, and sold to buyers including auto dismantlers, rebuilders, exporters, and dealers. The platform uses AI-driven tools to assess vehicle damage and predict total loss outcomes, helping insurance companies make faster disposition decisions. 2. **Commercial Construction & Transportation (CC&T) Segment (approximately 35-40% of revenue)**: Operating under the Ritchie Bros. brand, this segment focuses on heavy equipment, construction machinery, transportation assets, and industrial equipment. The company conducts both live auctions and online sales, helping construction companies, governments, and other enterprises dispose of surplus equipment while connecting them with buyers worldwide. This includes everything from bulldozers and cranes to trucks and agricultural equipment. The company also offers several complementary services including SmartEquip (equipment lifecycle management technology), Rouse Services (asset management and data intelligence), Xcira (live auction technology), Veritread (heavy haul transportation marketplace), and financial services through Ritchie Bros. Financial Services.
Revenue model
RB Global generates revenue through multiple complementary streams within its marketplace model. The primary revenue source is **service revenue**, which includes commissions and fees charged to both buyers and sellers participating in transactions. The company typically charges sellers a commission rate (called "take rate") of approximately 20-21% of the gross transaction value, while also collecting various fees from buyers including documentation, transportation, and storage charges. **Transaction-based revenue** forms the core of the business model, where RB Global earns money each time an asset changes hands through its platforms. In the automotive segment, insurance companies pay fees for vehicle storage, processing, and sale facilitation, while buyers pay for title processing, transportation arrangements, and other services. In the commercial equipment segment, consigners pay commission rates while buyers contribute through buyer's premiums and service charges. The company also generates **inventory revenue** by occasionally purchasing assets outright and reselling them, though this represents a smaller portion of total revenue. Additionally, **financial services revenue** comes from equipment financing provided through Ritchie Bros. Financial Services. Several factors influence the company's margins and profitability. **Positive margin drivers** include increasing take rates through improved service quality and market position, growing international buyer participation (which increases competition and prices), operational efficiency improvements, and technology investments that reduce manual processes. The company benefits from network effects where more buyers attract more sellers and vice versa. **Margin pressures** come from economic downturns that reduce asset disposal activity, higher interest rates that discourage equipment purchases, competitive pressure from other auction houses and direct sales, increased storage and operational costs, and the need for continuous technology investments. The cyclical nature of construction and automotive industries also creates variability in transaction volumes and pricing.
Competitive moat
RB Global possesses a **moderate but defensible moat** built primarily on network effects and operational scale. The company's strongest competitive advantage lies in its two-sided marketplace dynamics, where a large buyer base attracts more sellers, and extensive inventory attracts more buyers. This creates a virtuous cycle that becomes difficult for competitors to replicate at scale. The company's **geographic footprint and physical infrastructure** provide additional defensive characteristics. With hundreds of facilities worldwide and established relationships with major insurance carriers and equipment dealers, RB Global has built significant switching costs for customers. Insurance companies, in particular, value reliable service level agreements for vehicle pickup and processing, making them hesitant to switch providers without compelling reasons. **Regulatory barriers and industry expertise** also contribute to the moat, particularly in the automotive salvage business where environmental regulations, title processing requirements, and insurance industry relationships create complexity that favors established players. The company's technology investments, including AI-driven damage assessment tools and marketplace platforms, provide operational advantages though these are not insurmountable by well-funded competitors. However, the moat faces several **potential threats**. Digital transformation is lowering barriers to entry, allowing new marketplace entrants to compete without physical infrastructure. Direct sales between buyers and sellers could bypass auction platforms entirely. Large technology companies with superior resources could potentially enter these markets and leverage their platform expertise. Additionally, economic cycles can temporarily weaken network effects when transaction volumes decline significantly. The moat strength varies by segment, with the automotive salvage business showing stronger defensive characteristics due to insurance industry relationships and regulatory complexity, while the commercial equipment segment faces more competitive pressure from alternative disposition channels.
Risks & safety
**Overall Assessment**: RB Global demonstrates solid financial stability with manageable debt levels and strong cash generation, though current valuation metrics suggest limited margin of safety at recent prices. **Debt and Solvency Analysis**: • Net debt-to-EBITDA ratio of 1.6x indicates conservative leverage • Strong cash position of $534-578 million provides operational flexibility • Current ratio of 1.29x shows adequate short-term liquidity • Free cash flow of $765 million (2024) demonstrates strong cash generation capability • Term Loan A being actively paid down, improving financial flexibility **Valuation Metrics**: • P/E ratio of 40+ appears elevated for a cyclical business • EV/EBITDA of 14-16x suggests fair value at current levels • Price-to-book ratio of 2.9x indicates premium to tangible assets • Graham number analysis suggests potential overvaluation relative to conservative metrics **Other Considerations**: • Cyclical nature of both automotive and commercial equipment markets creates earnings volatility • Recent acquisitions (J.M. Wood) continue strategic expansion but require integration execution • Service revenue take rate improvements provide some downside protection • Market share gains in automotive segment offer growth potential but face competitive pressures
Recent development
Over the past several years, RB Global has undergone significant strategic transformation, evolving from a traditional auction house into a comprehensive digital marketplace platform. The most pivotal development was the **acquisition of IAA in 2022**, which doubled the company's size and diversified its revenue base into the automotive salvage market. This $7+ billion transaction fundamentally changed RB Global's business profile, adding a more stable, recurring revenue stream from insurance industry relationships. **Technology modernization** has been a central focus, with the company launching rbauction.com on a modern technology stack and developing AI-driven tools like the IAA total loss predictor and vehicle damage assessment systems. These innovations help insurance companies make faster disposition decisions while improving buyer experience through better asset information and streamlined processes. The company has pursued **strategic acquisitions** to expand market coverage, including the recent purchase of J.M. Wood for $235 million to strengthen presence in Alabama's commercial construction market, and the acquisition of Boom & Bucket marketplace to enhance fixed-price selling capabilities. These moves demonstrate a continued focus on geographic expansion and service diversification. **Operational efficiency initiatives** have delivered significant cost synergies, with management achieving approximately $110 million in cost reductions following the IAA integration. The company has also expanded its North American sales organization by 10% while implementing enhanced processes to improve service level agreements and reduce cycle times. **Market share expansion** efforts have yielded notable wins, including securing exclusive contracts with major insurance carriers like Direct Line Group in the UK and Suncorp Group in Australia. These relationships, representing tens of thousands of vehicles annually, demonstrate the company's ability to compete successfully for large enterprise accounts through superior service delivery and operational performance.
RBA company profile · for informational purposes only — not investment advice.
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