Here are a couple of analogies for RB Global (RBA):

• eBay for heavy equipment and industrial assets.
• A global marketplace like Amazon, but focused on auctions for industrial machinery and salvage vehicles.

• Industrial Equipment Auctions: Facilitating the sale of heavy equipment, trucks, and other industrial assets through live and online unreserved auctions.
• Online Marketplaces: Providing digital platforms for buying and selling industrial equipment with flexible transaction formats like "buy now" and "make offer."
• Equipment Inspection Services: Offering professional inspection, appraisal, and certification services to ensure transparency and build buyer confidence for machinery.
• Logistics Solutions: Providing comprehensive transportation and logistics planning to assist buyers and sellers in moving equipment globally.

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Jim Kessler, Chief Executive Officer

Mr. Kessler was appointed Chief Executive Officer of RB Global in August 2023, having previously served as President and Chief Operating Officer since 2021, and Chief Operating Officer since 2020. Prior to joining RB Global, he spent two decades in the automotive industry. He served as President, Emerging Business at Caliber Collision from 2019 to 2020 and as Chief Operating Officer of ABRA Auto Body and Glass from 2017 to 2019. At ABRA, he oversaw operations, procurement, and growth initiatives, including the integration of the merger between ABRA and Caliber Collision, creating the first national collision repair provider in the United States. He also held senior leadership positions at vRide, City Sports (as CFO & COO), and Pep Boys. Mr. Kessler is also an Operating Advisor to Percheron Capital, a private equity firm.

Eric J. Guerin, Chief Financial Officer

Mr. Guerin brings extensive senior executive financial leadership experience to RB Global, having been appointed Chief Financial Officer effective January 15, 2024. Most recently, he served as the Chief Financial Officer of Veritiv Corporation from March 2023 until its acquisition in November 2023. Prior to that, Mr. Guerin was Executive Vice President and Chief Financial Officer of CDK Global, Inc., a provider of retail technology and software-as-a-service solutions, until its acquisition in July 2022. He also held various financial management roles at Corning Incorporated, Flowserve Corporation, Novartis, and Johnson & Johnson.

Steve Lewis, Chief Operations Officer

Mr. Lewis was appointed Chief Operations Officer of RB Global in 2024, bringing extensive senior leadership experience in operations and supply chain management. He also leads IAA operations.

Nancy King, Chief Technology Officer

Ms. King joined RB Global in 2024 as Chief Technology Officer, leveraging extensive information technology leadership experience to define and lead the company's overall technology vision and strategy. Previously, she was the Sr. Vice President of Product Engineering at Target.

Jen Schmit, Chief People Officer

Ms. Schmit was appointed as the Chief People Officer at RB Global in 2025.

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RB Global (RBA) operates as a leading omnichannel marketplace for buyers and sellers of commercial assets and vehicles worldwide. Their main products and services revolve around facilitating transactions for various asset classes, including construction equipment, agricultural equipment, commercial transportation, and automotive (particularly salvage vehicles).

Addressable Markets:

• Global Used Construction Equipment Market: This market was valued at approximately $165.16 billion in 2021 and is projected to reach $484.31 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2031. Other estimates place the market size at around $125.60 billion in 2025, expanding to $168.16 billion by 2030 with a CAGR of 6.01%, or an estimated US$99.2 billion in 2024, reaching US$122.0 billion by 2030 at a CAGR of 3.5%. Another projection estimates the market at USD 131.38 billion in 2024, growing to USD 227.82 billion by 2035 with a CAGR of 5.13%. North America holds a significant share, accounting for approximately 40% of the global used construction equipment market.

• Global Heavy Equipment Auction Market: The heavy equipment auction market was valued at $12 billion in 2023 and is expected to grow to $18 billion by 2030, demonstrating a CAGR of 7.00%. The global heavy equipment auction platform market reached USD 10.2 billion in 2024 and is projected to grow to USD 19.5 billion by 2033, at a robust CAGR of 7.4%. North America is a dominant region within this market, holding over 40% of the global revenue.

• Global Used Agriculture Equipment Market: The global used agriculture equipment market was valued at $121.2 billion in 2022 and is projected to reach $192.5 billion by 2032, with a CAGR of 4.6% from 2023 to 2032. Another report estimates the global agricultural equipment market size at USD 169.55 billion in 2024, projected to reach USD 295.28 billion by 2033, with a CAGR of 6.7% from 2025 to 2033. Additionally, the global agriculture equipment market size, which includes used equipment, is recorded at USD 119.06 billion in 2024, and is expected to reach around USD 189.61 billion by 2034, expanding at a CAGR of 4.80%. The North America agriculture equipment market size surpassed USD 45.24 billion in 2024.

• Global Vehicle Auction Market: The global vehicle auction market, which includes salvage vehicles, is estimated to reach between $45 billion and $55 billion by 2025, with a projected CAGR of 8-12% through 2030. Another source states the global Car Auction Market (which includes commercial vehicles) is estimated at USD 385 billion in 2025 and projected to reach USD 580 billion by 2033, expanding at a CAGR of 7.8%. In the U.S. specifically, the vehicle auction market was valued at approximately US$3.47 billion in 2024 and is expected to reach US$4.48 billion by 2030, growing at an approximate CAGR of 4%.

Here are 3-5 expected drivers of future revenue growth for RB Global (RBA) over the next 2-3 years:

1. Expanded Partnership with U.S. General Services Administration (GSA) and Automotive Sector Growth: RB Global anticipates significant revenue growth from the full integration of its expanded partnership with the U.S. General Services Administration (GSA) for remarketing vehicles. This agreement is expected to substantially increase automotive unit volumes, with management targeting run-rate benefits by the second quarter of 2026. These vehicles are also projected to enhance average selling prices within the automotive segment.
2. Increased Service Revenue Take Rate: The company has demonstrated an expanding service revenue take rate, driven by a higher average buyer fee rate structure and growth in its marketplace services. This indicates RB Global's continued ability to capture a larger percentage of gross transactional value (GTV), directly contributing to revenue growth.
3. Strategic Acquisitions and Global Market Expansion: RB Global's strategy includes leveraging strategic acquisitions, such as J.M. Wood in the U.S., and new operations in Australia, to build a larger global footprint. These acquisitions contribute to diversified service offerings, particularly in sectors like commercial construction and transportation, and are expected to improve cross-selling opportunities and expand its market presence. The company's existing international presence and omnichannel platform also provide opportunities for further market expansion.
4. Growth in E-commerce Marketplace and Digital Transformation: Analysts highlight that the ongoing growth in RB Global's e-commerce marketplace activities and digital transformation initiatives are expected to drive higher transaction volumes and revenue. The shift towards more asset sales and auctions moving online will allow RB Global to reach a broader international buyer base and enhance overall transaction activity.

Share Repurchases

• The 5-Year Share Buyback Ratio for RB Global as of August 23, 2025, was -12.60, indicating a net issuance rather than repurchases.
• Trefis data shows RB Global's stock repurchases saw a -100% decline in the last twelve months and peaked in 2020, with no increase since 2018.

Share Issuance

• In the third quarter of 2025, RB Global reported an issuance of Series A Senior Preferred Shares and common stock, net of issuance costs, totaling $496.9 million.
• The number of common shares outstanding increased from 183,016,770 as of February 27, 2024, to 184,748,861 as of January 31, 2025.

Outbound Investments

• RB Global completed the acquisition of J.M. Wood for $239.0 million in Q3 2025, contributing to a 23% increase in inventory sales.
• The company announced a definitive agreement to acquire Smith Broughton Auctioneers and Allied Equipment Sales in Western Australia for approximately $38 million to expand its geographic footprint.
• RB Global formed the LKQ SYNETIQ joint venture in Q3 2025, which resulted in a $15.5 million deconsolidation loss.

Capital Expenditures

• RB Global's capital expenditures for the full year 2025 are estimated to range between $350 million and $400 million.
• The company continues to invest in growth initiatives and enhancing the customer experience to position for durable long-term growth.
• Capital expenditures growth is forecasted to average 21.8% over the next five fiscal years, with a current growth forecast of 114.1%.