RB Global (RBA)
Market Price (8/8/2026): $95.43 | Market Cap: $17.7 BilSector: Industrials | Industry: Diversified Support Services
RB Global (RBA)
Market Price (8/8/2026): $95.43Market Cap: $17.7 BilSector: IndustrialsIndustry: Diversified Support Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% Low stock price volatilityVol 12M is 31% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Circular Economy & Recycling. Themes include Online Marketplaces, and Industrial Asset Reuse & Remarketing. | Weak multi-year price returns2Y Excs Rtn is -16%, 3Y Excs Rtn is -12% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.16 | Key risksRBA key risks include [1] challenges integrating recent large acquisitions, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Low stock price volatilityVol 12M is 31% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Circular Economy & Recycling. Themes include Online Marketplaces, and Industrial Asset Reuse & Remarketing. |
| Weak multi-year price returns2Y Excs Rtn is -16%, 3Y Excs Rtn is -12% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.16 |
| Key risksRBA key risks include [1] challenges integrating recent large acquisitions, Show more. |
Qualitative Assessment
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Updated on 8/5/2026
RB Global (RBA) stock has lost about 10% since 4/30/2026 because of the following key factors:
1. Adjusted earnings per share for fiscal Q2 2026 missed analyst expectations.
RB Global reported adjusted earnings per share (EPS) of $1.13 for its fiscal second quarter ended June 30, 2026. This figure slightly missed the consensus analyst estimate of $1.14 per share. Despite revenue of $1.32 billion beating analyst estimates of $1.23 billion, the market reacted negatively to the earnings announcement, with the stock falling 15.1% to $95.86 on August 5, 2026.
2. A notable decline in service revenue take rate raised investor concerns about profitability.
In fiscal Q2 2026, RB Global's service revenue take rate decreased by 110 basis points year-over-year, falling to 20%. This reduction was primarily attributed to shifts in the company's portfolio mix due to acquisitions and increased volume-related price incentives within its automotive segment. The decline signaled potential pressure on profit margins, prompting investor caution.
Show more
RB Global (RBA) stock has lost about 10% since 4/30/2026 because of the following key factors:
1. Adjusted earnings per share for fiscal Q2 2026 missed analyst expectations.
RB Global reported adjusted earnings per share (EPS) of $1.13 for its fiscal second quarter ended June 30, 2026. This figure slightly missed the consensus analyst estimate of $1.14 per share. Despite revenue of $1.32 billion beating analyst estimates of $1.23 billion, the market reacted negatively to the earnings announcement, with the stock falling 15.1% to $95.86 on August 5, 2026.
2. A notable decline in service revenue take rate raised investor concerns about profitability.
In fiscal Q2 2026, RB Global's service revenue take rate decreased by 110 basis points year-over-year, falling to 20%. This reduction was primarily attributed to shifts in the company's portfolio mix due to acquisitions and increased volume-related price incentives within its automotive segment. The decline signaled potential pressure on profit margins, prompting investor caution.
Show more
Updated on 8/5/2026
RB Global (RBA) stock has lost about 10% since 4/30/2026 because of the following key factors:
1. Adjusted earnings per share for fiscal Q2 2026 missed analyst expectations.
RB Global reported adjusted earnings per share (EPS) of $1.13 for its fiscal second quarter ended June 30, 2026. This figure slightly missed the consensus analyst estimate of $1.14 per share. Despite revenue of $1.32 billion beating analyst estimates of $1.23 billion, the market reacted negatively to the earnings announcement, with the stock falling 15.1% to $95.86 on August 5, 2026.
2. A notable decline in service revenue take rate raised investor concerns about profitability.
In fiscal Q2 2026, RB Global's service revenue take rate decreased by 110 basis points year-over-year, falling to 20%. This reduction was primarily attributed to shifts in the company's portfolio mix due to acquisitions and increased volume-related price incentives within its automotive segment. The decline signaled potential pressure on profit margins, prompting investor caution.
3. Management's cautious outlook on BigIron integration and evolving business mix introduced uncertainty.
While RB Global raised its full-year 2026 guidance for Gross Transaction Value (GTV) growth to 9%-11% and adjusted EBITDA, management cautioned investors not to consider current take rates as a normalized run rate due to the ongoing integration of the BigIron acquisition and the agricultural season. Furthermore, the company indicated that future real estate transactions, which typically carry lower single-digit take rates, would further influence the business mix later in the year, contributing to investor uncertainty regarding future profitability trends.
4. Several analyst downgrades and price target reductions reflected a more cautious outlook.
Following the company's fiscal Q2 2026 announcements and leading up to the stock's significant decline, several analysts adjusted their ratings and price targets. For instance, Barclays lowered its price target on RB Global from $124.00 to $121.00 on July 22, 2026. Additionally, Wall Street Zen downgraded the stock from a "buy" to a "hold" rating on July 18, 2026. These revisions contributed to a more conservative sentiment in the market regarding RB Global's near-term prospects.
Show less
RB Global (RBA) stock has lost about 10% since 4/30/2026 because of the following key factors:
1. Adjusted earnings per share for fiscal Q2 2026 missed analyst expectations.
RB Global reported adjusted earnings per share (EPS) of $1.13 for its fiscal second quarter ended June 30, 2026. This figure slightly missed the consensus analyst estimate of $1.14 per share. Despite revenue of $1.32 billion beating analyst estimates of $1.23 billion, the market reacted negatively to the earnings announcement, with the stock falling 15.1% to $95.86 on August 5, 2026.
2. A notable decline in service revenue take rate raised investor concerns about profitability.
In fiscal Q2 2026, RB Global's service revenue take rate decreased by 110 basis points year-over-year, falling to 20%. This reduction was primarily attributed to shifts in the company's portfolio mix due to acquisitions and increased volume-related price incentives within its automotive segment. The decline signaled potential pressure on profit margins, prompting investor caution.
3. Management's cautious outlook on BigIron integration and evolving business mix introduced uncertainty.
While RB Global raised its full-year 2026 guidance for Gross Transaction Value (GTV) growth to 9%-11% and adjusted EBITDA, management cautioned investors not to consider current take rates as a normalized run rate due to the ongoing integration of the BigIron acquisition and the agricultural season. Furthermore, the company indicated that future real estate transactions, which typically carry lower single-digit take rates, would further influence the business mix later in the year, contributing to investor uncertainty regarding future profitability trends.
4. Several analyst downgrades and price target reductions reflected a more cautious outlook.
Following the company's fiscal Q2 2026 announcements and leading up to the stock's significant decline, several analysts adjusted their ratings and price targets. For instance, Barclays lowered its price target on RB Global from $124.00 to $121.00 on July 22, 2026. Additionally, Wall Street Zen downgraded the stock from a "buy" to a "hold" rating on July 18, 2026. These revisions contributed to a more conservative sentiment in the market regarding RB Global's near-term prospects.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -9.2% change in RBA stock from 4/30/2026 to 8/7/2026 was primarily driven by a -19.6% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 104.30 | 94.72 | -9.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,591 | 4,848 | 5.6% |
| Net Income Margin (%) | 9.3% | 10.0% | 7.0% |
| P/E Multiple | 45.2 | 36.3 | -19.6% |
| Shares Outstanding (Mil) | 186 | 186 | -0.1% |
| Cumulative Contribution | -9.2% |
Market Drivers
4/30/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RBA | -9.2% | |
| Market (SPY) | 7.6% | 18.4% |
| Sector (XLI) | 6.1% | 24.3% |
Fundamental Drivers
The -16.4% change in RBA stock from 1/31/2026 to 8/7/2026 was primarily driven by a -24.4% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 113.27 | 94.72 | -16.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,529 | 4,848 | 7.0% |
| Net Income Margin (%) | 9.7% | 10.0% | 3.5% |
| P/E Multiple | 48.1 | 36.3 | -24.4% |
| Shares Outstanding (Mil) | 186 | 186 | -0.1% |
| Cumulative Contribution | -16.4% |
Market Drivers
1/31/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RBA | -16.4% | |
| Market (SPY) | 12.1% | 32.3% |
| Sector (XLI) | 12.2% | 28.7% |
Fundamental Drivers
The -11.8% change in RBA stock from 7/31/2025 to 8/7/2026 was primarily driven by a -23.2% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 107.34 | 94.72 | -11.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,328 | 4,848 | 12.0% |
| Net Income Margin (%) | 9.7% | 10.0% | 3.1% |
| P/E Multiple | 47.3 | 36.3 | -23.2% |
| Shares Outstanding (Mil) | 185 | 186 | -0.5% |
| Cumulative Contribution | -11.8% |
Market Drivers
7/31/2025 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RBA | -11.8% | |
| Market (SPY) | 23.4% | 30.8% |
| Sector (XLI) | 23.1% | 31.4% |
Fundamental Drivers
The 52.5% change in RBA stock from 7/31/2023 to 8/7/2026 was primarily driven by a 161.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 62.13 | 94.72 | 52.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,852 | 4,848 | 161.7% |
| Net Income Margin (%) | 6.1% | 10.0% | 62.9% |
| P/E Multiple | 65.9 | 36.3 | -44.8% |
| Shares Outstanding (Mil) | 120 | 186 | -35.2% |
| Cumulative Contribution | 52.5% |
Market Drivers
7/31/2023 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RBA | 52.5% | |
| Market (SPY) | 74.9% | 39.7% |
| Sector (XLI) | 74.7% | 42.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RBA Return | -11% | -4% | 20% | 37% | 15% | -10% | 47% |
| Peers Return | 27% | 6% | 36% | 11% | 15% | 25% | 192% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| RBA Win Rate | 42% | 50% | 67% | 67% | 58% | 50% | |
| Peers Win Rate | 60% | 45% | 53% | 52% | 53% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| RBA Max Drawdown | -26% | -30% | -18% | -12% | -20% | -22% | |
| Peers Max Drawdown | -21% | -35% | -23% | -20% | -31% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CPRT, URI, CAT, DE, TEX. See RBA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
| Event | RBA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -14.4% | -18.8% |
| % Gain to Breakeven | 16.8% | 23.1% |
| Time to Breakeven | 30 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -12.5% | -9.5% |
| % Gain to Breakeven | 14.3% | 10.5% |
| Time to Breakeven | 20 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.7% | -6.7% |
| % Gain to Breakeven | 21.6% | 7.1% |
| Time to Breakeven | 120 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -17.5% | -24.5% |
| % Gain to Breakeven | 21.2% | 32.4% |
| Time to Breakeven | 79 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.3% | -33.7% |
| % Gain to Breakeven | 59.5% | 50.9% |
| Time to Breakeven | 42 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -13.7% | -19.2% |
| % Gain to Breakeven | 15.9% | 23.8% |
| Time to Breakeven | 25 days | 105 days |
In The Past
RB Global's stock fell -14.4% during the 2025 US Tariff Shock. Such a loss loss requires a 16.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | RBA | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -37.3% | -33.7% |
| % Gain to Breakeven | 59.5% | 50.9% |
| Time to Breakeven | 42 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.7% | -12.2% |
| % Gain to Breakeven | 38.3% | 13.9% |
| Time to Breakeven | 105 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -33.8% | -17.9% |
| % Gain to Breakeven | 51.0% | 21.8% |
| Time to Breakeven | 1135 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -48.6% | -53.4% |
| % Gain to Breakeven | 94.5% | 114.4% |
| Time to Breakeven | 722 days | 1085 days |
In The Past
RB Global's stock fell -14.4% during the 2025 US Tariff Shock. Such a loss loss requires a 16.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About RB Global (RBA)
RB Global, Inc. (RBA) operates as an omnichannel marketplace, facilitating the buying and selling of commercial assets and vehicles globally. The company provides a comprehensive suite of insights, services, and transaction solutions, effectively connecting buyers and sellers across various industries.
Its core offerings are delivered through a portfolio of distinct brands. Ritchie Bros. is a prominent auctioneer for commercial assets, while IAA serves as a digital marketplace for vehicles. Complementing these, Rouse Services offers asset management and performance benchmarking, and SmartEquip provides a technology platform for equipment lifecycle management. The company also supports its marketplaces with technologies like Xcira for live simulcast auctions and Veritread for heavy haul transport solutions.
RB Global caters to a broad spectrum of customers, including businesses and governments involved in acquiring or disposing of various asset classes. These markets span automotive, commercial transportation, construction, agriculture, energy, mining, government surplus, and lifting and material handling, making it a critical intermediary in the secondary market for industrial and commercial equipment.
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- eBay for commercial and industrial equipment.
- Manheim for heavy equipment and commercial vehicles.
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- Ritchie Bros.: An auctioneer facilitating online bidding for commercial assets and vehicles.
- IAA: A digital marketplace connecting buyers and sellers of vehicles.
- Rouse Services: Provides asset management, data intelligence, and performance benchmarking systems.
- SmartEquip: A technology platform designed to support customers in managing the equipment lifecycle.
- Xcira: Offers live simulcast auction technologies for various marketplaces.
- Veritread: An online marketplace specializing in heavy haul transport solutions.
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RB Global (RBA) primarily sells to other companies. As an omnichannel marketplace for commercial assets and vehicles, its customer base consists of businesses operating across various sectors that utilize RB Global's platforms for insights, services, and transactions. While specific major customer company names are not listed in the provided background information, its customers broadly fall into the following industry categories:
Automotive industry companies
Commercial transportation companies
Construction companies
Government surplus entities
Lifting and material handling businesses
Energy sector companies
Mining industry companies
Agriculture industry companies
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Jim Kessler, Chief Executive Officer
Jim Kessler was appointed Chief Executive Officer of RB Global in August 2023, having previously served as Chief Operating Officer from May 2020 and President & Chief Operating Officer from September 2021. Before joining RB Global, he spent two decades as a senior leader in the automotive industry. His prior roles include President, Emerging Business at Caliber Collision from 2019 to 2020, and Chief Operating Officer of ABRA Auto Body and Glass from 2017 to 2019, where he oversaw operations, procurement, and growth initiatives, including the integration of ABRA's merger with Caliber Collision. Mr. Kessler also held various senior leadership positions at vRide, City Sports (as CFO & COO), and Pep Boys.
Eric Guerin, Chief Financial Officer
Eric Guerin was appointed Chief Financial Officer of RB Global in January 2024, overseeing the company's global Finance, Mergers & Acquisitions, and Legal teams. He has a strong background in financial leadership, including serving as Chief Financial Officer of Veritiv Corporation from March 2023 until its acquisition in November 2023. Prior to that, he was Executive Vice President and Chief Financial Officer of CDK Global, Inc. until its acquisition in July 2022. Earlier in his career, Mr. Guerin held senior finance roles at Corning Incorporated, Flowserve Corporation, Novartis, and Johnson & Johnson. He currently serves on the board of directors for Skyworks Solutions, Inc.
Steve Lewis, Chief Operations Officer
Steve Lewis was appointed Chief Operations Officer of RB Global in 2024, effective September 3, 2024. He brings extensive senior leadership experience in operations and supply chain management. In his role, he will assume leadership of IAA operations and oversee technology.
Doug Rusch, Executive Vice President, Strategic Accounts and Rouse in North America
Doug Rusch was appointed Executive Vice President, Strategic Accounts and Rouse in North America at RB Global in 2024. Before this role, he served as Managing Director of Rouse Services, where he led commercial and product strategy for the company's used equipment remarketing business. His experience also includes roles at Deloitte Consulting and Blue Ridge Partners, a strategy consulting firm.
Darren Watt, Chief Legal Officer
Darren Watt serves as RB Global's Chief Legal Officer.
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The key risks to RB Global (RBA) include the cyclical nature of its served industries, intense competition and technological disruption, and risks associated with the integration of acquisitions and leverage.
- Cyclicality of Served Industries: RB Global's business is significantly exposed to the cyclical nature of the heavy equipment, construction, mining, agriculture, and commercial transportation industries. Economic downturns, fluctuations in commodity prices, and reduced capital expenditures in these sectors can lead to decreased demand for commercial assets, lower auction volumes, and potentially reduced asset values, directly impacting RB Global's revenue and profitability. While the acquisition of IAA has introduced a less cyclical salvage vehicle marketplace, other segments, particularly agriculture, continue to add revenue volatility due to their sensitivity to economic and commodity price cycles.
- Competition and Technological Disruption: As an omnichannel marketplace, RB Global operates in a highly competitive environment. The market is constantly evolving due to new and existing competitors and the emergence of technology-enabled selling solutions. In the automotive salvage sector, RB Global faces primary competition from Copart, Inc. Furthermore, disruptive technologies and new market entrants could challenge the company's traditional auction and marketplace formats, necessitating continuous investment in innovation to maintain competitiveness, potentially pressing fees, margins, and long-term revenue growth.
- Integration Risks and Leverage from Acquisitions: RB Global's growth strategy involves strategic acquisitions, such as IAA, which bring inherent risks. The company may not realize the anticipated benefits and synergies from these acquisitions, and could incur significant integration costs and potential liabilities. Merging large organizations like Ritchie Bros. and IAA presents challenges such as potential cultural clashes, difficulties in aligning operational processes, and the risk of losing key customers or employees. Additionally, the substantial debt incurred from financing these acquisitions, such as the $4.8 billion in acquisition debt from IAA, weighs on returns and leaves limited room for error if market conditions, like salvage volumes, decline.
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Here are the addressable market sizes for RB Global's main products and services:
- Commercial Assets and Vehicle Auctions (Ritchie Bros.): The global hard asset equipment online auction market was valued at USD 15.59 billion in 2024 and is projected to grow to USD 69.67 billion by 2033. The broader global vehicle auction market is estimated to reach USD 45-55 billion by 2025. The global car auction market reached USD 87.6 billion in 2024 and is anticipated to expand to USD 168.7 billion by 2033. In the U.S., the vehicle auction market was valued at US$3.47 billion in 2024 and is expected to reach US$4.48 billion by 2030.
- Digital Marketplace for Vehicles (IAA): The global online salvage auctions market was estimated at USD 10.63 billion in 2024 and is projected to reach USD 27.20 billion by 2030. North America accounted for 44.27% of this market in 2024. The global online car buying market reached USD 390.4 billion in 2025 and is expected to reach USD 836.4 billion by 2034. North America is projected to hold approximately 39.9% of the global online car buying market in 2025.
- Asset Management, Data-Driven Intelligence, and Equipment Lifecycle Management (Rouse Services, SmartEquip): The global equipment management software market was valued at USD 9.4 billion in 2023 and is projected to grow to USD 18.9 billion by 2033. The global heavy equipment management software market was estimated at USD 2.38 billion in 2025 and is expected to reach USD 5.48 billion by 2032. Additionally, the global construction and heavy equipment telematics market was valued at USD 935.8 million in 2023 and is projected to reach USD 3.31 billion by 2030. North America holds approximately 35% of the construction and heavy equipment telematics market.
- Heavy Haul Transport Solutions (Veritread): The global heavy hauler market is anticipated at US$30.4 billion in 2026 and is projected to reach US$49.7 billion by 2033. The global heavy haul truck market is projected to reach USD 32.8 billion in 2025 and USD 43.5 billion by 2035. The global heavy lift logistics market was valued at USD 25.11 billion in 2025 and is projected to reach USD 35.07 billion by 2035. North America accounted for approximately 35.6% of the global heavy lift logistics market in 2024.
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Expected Drivers of Future Revenue Growth for RB Global (RBA)
- Market Share Gains and Volume-Led Growth: RB Global anticipates continued market share expansion and volume-led growth across its various sectors over the next 2-3 years, with a particular focus on the automotive segment. The company has consistently outperformed the broader automotive market in unit volume growth, supported by new multiyear agreements with significant insurance partners and effective service delivery.
- Expanded Strategic Partnerships and Contract Renewals: Future revenue growth is expected to be driven by new and renewed long-term contracts with major partners, including large insurance carriers. Management foresees incremental share gains from these agreements and from a robust pipeline of prospective partners.
- Technology Deployment and AI-Driven Tools: The company plans to leverage advanced technology features, including proprietary AI-enabled tools such as the IAA total loss predictor. These innovations aim to enhance buyer confidence, optimize pricing, improve operational efficiencies, and strengthen customer relationships.
- Growth in the Salvage Vehicle Market, especially EVs: The expanding salvage auction market, particularly the increasing demand for salvage electric vehicles (EVs) due to growing sustainability concerns, is projected to be a significant driver. RB Global, through its IAA brand, is well-positioned in this growing market.
- Global Expansion and Value-Added Services: RB Global's strategic initiatives include global expansion and a focus on offering more value-added services. Acquisitions and strategic build-outs in international markets, such as Australia, are considered potential avenues for increasing higher-margin service revenue.
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Capital Allocation Decisions for RB Global (RBA)
Share Repurchases
- RB Global announced a US$500 million share repurchase program in March 2026, pending approval from the Toronto Stock Exchange.
- The company intends to submit an application for a Normal Course Issuer Bid in March 2026.
- These repurchases are expected to be funded by the company's cash reserves or its senior credit facility.
Share Issuance
- In March 2023, as part of the IAA acquisition, Ritchie Bros. (now RB Global) issued common shares to IAA shareholders.
- Under the amended merger agreement in January 2023, IAA shareholders received $12.801 per share in cash and 0.5252 common shares of Ritchie Bros. for each share of IAA common stock.
- Upon the IAA merger's completion, approximately 71.1 million RB Global common shares were issued or reserved for issuance to IAA securityholders.
Inbound Investments
- In January 2023, Ritchie Bros. received a $500 million strategic investment from Starboard Value LP.
- This investment consisted of $485 million in newly issuable senior preferred shares convertible into common shares and $15 million in common shares.
Outbound Investments
- RB Global, then Ritchie Bros., completed the acquisition of IAA, Inc. in March 2023, in a stock and cash transaction valued at approximately US$7.3 billion, including the assumption of $1.0 billion in net debt.
- On March 4, 2026, RB Global announced an agreement to acquire BigIron, an online agricultural marketplace.
Capital Expenditures
- RB Global's capital expenditures for the full year 2025 were estimated to be between $350 million and $400 million.
- Capital expenditures are forecasted to grow, averaging 21.8% over the next five fiscal years, with a current growth forecast of 114.1%.
- The company is focused on investing in growth initiatives and improving the customer experience.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| RB Global Earnings Notes | 12/28/2026 | |
| With RB Global Stock Surging, Have You Considered The Downside? | 10/17/2025 | |
| RB Global vs Alphabet: Which Is A Better Investment? | 08/18/2025 | |
| RB Global vs Waste Management: Which Is A Better Investment? | 08/18/2025 | |
| How Does RB Global Stock Stack Up Against Its Peers? | 08/13/2025 | |
| Better Bet Than RBA Stock: Pay Less Than RB Global To Get More From RCL, CCL | 08/12/2025 | |
| RBA Dip Buy Analysis | 07/10/2025 | |
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Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 357.78 |
| Mkt Cap | 50.3 |
| Rev LTM | 11,754 |
| Op Inc LTM | 2,960 |
| FCF LTM | 986 |
| FCF 3Y Avg | 917 |
| CFO LTM | 3,714 |
| CFO 3Y Avg | 3,399 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 7.9% |
| Rev Chg Q | 11.4% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Inc Chg LTM | 3.3% |
| Op Inc Chg 3Y Avg | 5.6% |
| Op Mgn LTM | 17.5% |
| Op Mgn 3Y Avg | 19.9% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 18.0% |
| CFO/Rev 3Y Avg | 19.7% |
| FCF/Rev LTM | 9.2% |
| FCF/Rev 3Y Avg | 10.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 50.3 |
| P/S | 4.0 |
| P/Op Inc | 20.5 |
| P/EBIT | 19.4 |
| P/E | 35.4 |
| P/CFO | 18.7 |
| Total Yield | 4.1% |
| Dividend Yield | 0.8% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.9% |
| 3M Rtn | 0.4% |
| 6M Rtn | 7.8% |
| 12M Rtn | 30.6% |
| 3Y Rtn | 59.8% |
| 1M Excs Rtn | 1.9% |
| 3M Excs Rtn | -5.0% |
| 6M Excs Rtn | -3.4% |
| 12M Excs Rtn | 7.5% |
| 3Y Excs Rtn | -16.8% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | 4,591 | 4,284 | 3,680 | 1,734 | |
| Buyer fees | 249 | ||||
| Commissions | 473 | ||||
| Inventory sales revenue | 499 | ||||
| Marketplace services revenue | 196 | ||||
| Total | 4,591 | 4,284 | 3,680 | 1,734 | 1,417 |
| $ Mil | 2022 | 2021 | 2020 | 2019 | 2014 |
|---|---|---|---|---|---|
| Auctions and Marketplaces | 355 | 311 | 307 | 255 | |
| Gain on disposition of property, plant and equipment ("PPE") | 171 | 1 | 2 | 1 | |
| Other | 62 | 47 | 37 | 36 | |
| Foreign exchange gain | 1 | ||||
| Acquisition-related costs | -37 | -30 | -6 | -1 | |
| Depreciation and amortization expenses ("D&A") | -97 | -88 | -75 | -71 | |
| Foreign exchange loss | -1 | -2 | 3 | ||
| Core Auction | 133 | ||||
| Equipment One | -3 | ||||
| Total | 455 | 240 | 263 | 223 | 130 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Single Segment | 428 | 413 | 206 |
| Total | 428 | 413 | 206 |
Price Behavior
Price Behavior
| Market Price | $94.72 | |
| Market Cap ($ Bil) | 17.6 | |
| First Trading Date | 03/10/1998 | |
| Distance from 52W High | -20.5% | |
| 50 Days | 200 Days | |
| DMA Price | $109.19 | $104.77 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -13.2% | -9.6% |
| 3M | 1YR | |
| Volatility | 40.4% | 31.3% |
| Downside Capture | 160.33 | 129.05 |
| Upside Capture | 90.71 | 81.26 |
| Correlation (SPY) | 17.2% | 30.7% |
RBA Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.14 | 0.46 | 0.42 | 0.83 | 0.72 | 0.73 |
| Up Beta | -3.68 | -1.17 | -0.94 | -0.07 | 0.15 | 0.43 |
| Down Beta | 0.01 | 0.60 | 0.50 | 1.25 | 0.84 | 0.81 |
| Up Capture | 37% | 103% | 82% | 87% | 72% | 75% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 9 | 20 | 33 | 67 | 131 | 409 |
| Down Capture | 129% | 77% | 75% | 114% | 98% | 96% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 23 | 29 | 58 | 119 | 340 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RBA | |
|---|---|---|---|---|
| RBA | -13.1% | 31.4% | -0.42 | - |
| Sector ETF (XLI) | 24.1% | 17.0% | 1.10 | 31.5% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 30.9% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | 3.2% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -11.5% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 24.9% |
| Bitcoin (BTCUSD) | -44.2% | 42.9% | -1.23 | 14.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RBA | |
|---|---|---|---|---|
| RBA | 11.5% | 30.3% | 0.39 | - |
| Sector ETF (XLI) | 14.0% | 17.6% | 0.62 | 41.9% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 39.9% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | 6.9% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | 7.9% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 34.8% |
| Bitcoin (BTCUSD) | 8.8% | 53.0% | 0.35 | 14.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RBA | |
|---|---|---|---|---|
| RBA | 13.1% | 31.0% | 0.46 | - |
| Sector ETF (XLI) | 14.2% | 20.0% | 0.62 | 42.7% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 42.5% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 6.6% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 14.1% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 36.1% |
| Bitcoin (BTCUSD) | 58.2% | 66.2% | 0.98 | 12.5% |
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Returns Analyses
Earnings Returns History
Updated 8/7/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -13.9% | ||
| 5/4/2026 | 1.4% | -0.6% | -2.7% |
| 2/17/2026 | 3.3% | -6.9% | -6.7% |
| 11/6/2025 | 4.4% | 4.7% | 3.2% |
| 5/7/2025 | 2.5% | 3.2% | 3.1% |
| 2/18/2025 | 8.5% | 5.0% | 2.8% |
| 11/8/2024 | 2.8% | 3.4% | 9.3% |
| 8/6/2024 | 9.3% | 8.7% | 17.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 14 |
| # Negative | 11 | 12 | 9 |
| Median Positive | 8.2% | 4.7% | 4.7% |
| Median Negative | -6.9% | -6.8% | -5.4% |
| Max Positive | 13.9% | 26.0% | 18.8% |
| Max Negative | -17.7% | -12.0% | -14.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | -13.9% | ||
| 5/4/2026 | 1.4% | -0.6% | -2.7% |
| 2/17/2026 | 3.3% | -6.9% | -6.7% |
| 11/6/2025 | 4.4% | 4.7% | 3.2% |
| 5/7/2025 | 2.5% | 3.2% | 3.1% |
| 2/18/2025 | 8.5% | 5.0% | 2.8% |
| 11/8/2024 | 2.8% | 3.4% | 9.3% |
| 8/6/2024 | 9.3% | 8.7% | 17.4% |
| 5/9/2024 | 4.9% | 2.9% | 8.9% |
| 2/23/2024 | 12.2% | 11.0% | 12.5% |
| 11/9/2023 | -10.3% | -8.4% | -5.4% |
| 8/3/2023 | -5.9% | -6.8% | 0.8% |
| 5/10/2023 | -6.0% | -10.6% | -4.2% |
| 2/21/2023 | -0.5% | -0.4% | -9.9% |
| 11/7/2022 | -17.7% | -12.0% | -11.9% |
| 8/4/2022 | -6.9% | -3.8% | -3.0% |
| 5/9/2022 | 12.0% | 21.8% | 18.8% |
| 2/17/2022 | -10.7% | -9.2% | 3.4% |
| 11/4/2021 | 8.2% | 2.1% | 1.4% |
| 8/5/2021 | -2.2% | 3.1% | 5.9% |
| 5/10/2021 | -3.1% | -6.7% | -14.3% |
| 2/18/2021 | -6.9% | -4.0% | -0.6% |
| 11/5/2020 | 9.9% | -5.5% | 2.9% |
| 8/6/2020 | 13.9% | 26.0% | 17.3% |
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 14 |
| # Negative | 11 | 12 | 9 |
| Median Positive | 8.2% | 4.7% | 4.7% |
| Median Negative | -6.9% | -6.8% | -5.4% |
| Max Positive | 13.9% | 26.0% | 18.8% |
| Max Negative | -17.7% | -12.0% | -14.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/10/2021 | 10-Q |
| 12/31/2020 | 02/18/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 8/5/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 GTV growth | 9.0% | 10.0% | 11.0% | 33.3% | 2.5% | Raised | Guidance: 7.5% for 2026 |
| 2026 Adjusted EBITDA | 1.50 Bil | 1.52 Bil | 1.54 Bil | 0.3% | Raised | Guidance: 1.51 Bil for 2026 | |
| 2026 Full year tax rate (GAAP and adjusted) | 23.0% | 24.0% | 25.0% | 0 | Affirmed | Guidance: 24.0% for 2026 | |
| 2026 Capital expenditures | 350.00 Mil | 375.00 Mil | 400.00 Mil | 0 | Affirmed | Guidance: 375.00 Mil for 2026 | |
Insider Activity
Updated 6/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Carlson, Christopher | Chief Accounting Officer | Direct | Sell | 6262026 | 115.00 | 150 | 17,250 | 404,110 | Form |
| 2 | Stein, Deborah | Direct | Buy | 5192026 | 103.15 | 425 | 43,839 | 188,249 | Form | |
| 3 | Carlson, Christopher | Chief Accounting Officer | Direct | Sell | 5062026 | 110.00 | 140 | 15,400 | 403,040 | Form |
| 4 | Stein, Deborah | Direct | Buy | 3192026 | 98.74 | 400 | 39,496 | 138,236 | Form | |
| 5 | Kessler, James Francis | Chief Executive Officer | Direct | Sell | 1222026 | 115.00 | 20,742 | 2,385,330 | 12,370,435 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Carlson, Christopher | Chief Accounting Officer | Direct | Sell | 6262026 | 115.00 | 150 | 17,250 | 404,110 | Form |
| 2 | Stein, Deborah | Direct | Buy | 5192026 | 103.15 | 425 | 43,839 | 188,249 | Form | |
| 3 | Carlson, Christopher | Chief Accounting Officer | Direct | Sell | 5062026 | 110.00 | 140 | 15,400 | 403,040 | Form |
| 4 | Stein, Deborah | Direct | Buy | 3192026 | 98.74 | 400 | 39,496 | 138,236 | Form | |
| 5 | Kessler, James Francis | Chief Executive Officer | Direct | Sell | 1222026 | 115.00 | 20,742 | 2,385,330 | 12,370,435 | Form |
| 6 | Stein, Deborah | Direct | Buy | 11132025 | 101.26 | 1,000 | 101,258 | 101,258 | Form | |
| 7 | Lewis, Michael Thomas Steven | Chief Operations Officer | Direct | Sell | 9152025 | 118.15 | 2,151 | Form | ||
| 8 | Jeter, James J | Chief Revenue Officer | Direct | Sell | 8142025 | 116.71 | 10,000 | 1,167,100 | 1,653,431 | Form |
| 9 | Watt, Darren Jeffrey | Chief Legal Officer | Direct | Sell | 7162025 | 110.00 | 7,400 | 814,000 | 2,736,140 | Form |
| 10 | Kessler, James Francis | Chief Executive Officer | Direct | Sell | 7162025 | 110.00 | 45,658 | 5,022,380 | 11,832,590 | Form |
| 11 | Watt, Darren Jeffrey | Chief Legal Officer | Direct | Sell | 6122025 | 107.00 | 3,700 | 395,900 | 2,661,518 | Form |
| 12 | Dewitt, Adam | Direct | Sell | 6112025 | 106.17 | 800 | 84,936 | 622,687 | Form | |
| 13 | Watt, Darren Jeffrey | Chief Legal Officer | Direct | Sell | 6112025 | 106.17 | 3,700 | 392,829 | 2,640,873 | Form |
Investor Activity (13F)
Updated Aug 8, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| EdgePoint Investment Group Inc. | $845.3 Mil | 6.8% | 37 | ADD +14.4% | 13F |
| Arvin Capital Management LP | $28.8 Mil | 6.7% | 23 | ADD +92.6% | 13F |
| Blue Grotto Capital, LLC | $43.1 Mil | 5.0% | 21 | New | 13F |
| Wilson Asset Management (International) PTY LTD | $12.7 Mil | 3.6% | 43 | TRIM -5.1% | 13F |
| 12th Street Asset Management Company, LLC | $20.3 Mil | 3.3% | 32 | Hold | 13F |
| Hawk Ridge Capital Management LP | $38.0 Mil | 1.4% | 48 | New | 13F |
| Dundas Partners LLP | $9.2 Mil | 0.7% | 49 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| EdgePoint Investment Group Inc. | $845.3 Mil | 6.8% | 37 | ADD +14.4% | 13F |
| Blue Grotto Capital, LLC | $43.1 Mil | 5.0% | 21 | New | 13F |
| Hawk Ridge Capital Management LP | $38.0 Mil | 1.4% | 48 | New | 13F |
| Arvin Capital Management LP | $28.8 Mil | 6.7% | 23 | ADD +92.6% | 13F |
| 12th Street Asset Management Company, LLC | $20.3 Mil | 3.3% | 32 | Hold | 13F |
| Wilson Asset Management (International) PTY LTD | $12.7 Mil | 3.6% | 43 | TRIM -5.1% | 13F |
| Dundas Partners LLP | $9.2 Mil | 0.7% | 49 | Hold | 13F |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Diversified Support Services Resources |
| Facilities Management Journal (FMJ) |
| Supply Chain Brain |
| Corporate Services News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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