olivLaw · US equity research
RB Global, Inc. RBA
Services-Business Services, NEC · SIC 7389 · Vertical: Services-Business Services, NEC (SIC 7389)
RB Global is a global auction and marketplace platform for commercial assets and vehicles, with total GTV of 16.2 billion USD in fiscal 2025. In the second quarter of 2026, GTV rose 11% to 4.7 billion USD, and full-year 2026 GTV growth guidance was raised to 9% to 11%.
At the close of 03 Nov 2026, RB Global, Inc. (RBA) stock was 93.16 USD (−0.29% on the day), with market capitalisation 17.3 bn USD, P/E 39.1 on diluted EPS of 2.39 USD over the last 12 months, dividend yield 1.33%, beta 0.69, 52-week range 79.81–119.14 USD. Latest reported quarter (Q2 2026): revenue of 1.3 bn USD (+11.1% YoY), net income of 143.5 m USD (+30.7% YoY), diluted EPS 0.71 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 68.9
- strong (55–70)
- Bollinger (20, 2)
- 78.47 – 93.08
- above the upper band · %B 1.01 · band width 17.0%
- SMA 50 / 200
- 84.19 / 99.60
- mixed trend
- MACD (12, 26, 9)
- 1.64 / 0.51
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.8% | −2.0% | +15.8 pp | — |
| 3 months | −16.1% | −2.2% | −14.0 pp | — |
| 6 months | −12.6% | +4.3% | −16.8 pp | — |
| Year to date | −9.4% | +10.6% | −20.0 pp | — |
| 1 year | −4.3% | +10.5% | −14.8 pp | −5.0% |
| 3 years | +37.0% | +73.7% | −36.7 pp | +1.0% |
| 5 years | +35.4% | +61.7% | −26.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 981.8 m | 1.1 bn | 1.1 bn | 1.2 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.3 bn |
| SG&A | 177.8 m | 189.4 m | 205.0 m | 222.2 m | 217.8 m | 260.2 m | 214.2 m | 210.8 m |
| Operating income | 153.4 m | 207.0 m | 189.5 m | 188.6 m | 158.3 m | 177.0 m | 217.5 m | 224.8 m |
| Depreciation & amortisation | 111.9 m | 114.5 m | 114.5 m | 116.7 m | 124.7 m | 127.5 m | 126.7 m | 130.4 m |
| Interest expense | 57.2 m | 52.7 m | 49.9 m | 47.5 m | 48.2 m | 46.0 m | 44.0 m | 42.4 m |
| Pre-tax income | 102.2 m | 160.4 m | 142.9 m | 145.5 m | 111.7 m | 135.5 m | 173.2 m | 186.0 m |
| Income tax | 26.2 m | 42.0 m | 29.6 m | 35.8 m | 16.5 m | 26.1 m | 37.6 m | 42.4 m |
| Net income | 76.1 m | 118.5 m | 113.4 m | 109.8 m | 95.5 m | 109.7 m | 135.5 m | 143.5 m |
| Diluted EPS | 0.36 | 0.64 ≈ | 0.55 | 0.53 | 0.43 | 0.59 ≈ | 0.66 | 0.71 |
| Operating cash flow | 285.4 m ≈ | 184.5 m | 156.8 m | 326.5 m ≈ | 239.7 m ≈ | 255.2 m | 224.1 m | 141.7 m ≈ |
| Capex | 36.9 m ≈ | 56.6 m | 54.3 m | 84.8 m ≈ | 51.2 m ≈ | 68.7 m | 51.5 m | 78.1 m ≈ |
| Dividends paid | 53.5 m ≈ | 53.6 m | 53.5 m | 53.8 m ≈ | 58.2 m ≈ | 92.6 m | 66.5 m | 66.3 m ≈ |
| Share repurchases | — | — | — | — | — | — | — | 150.0 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 47 percentile of its own 43-quarter history (min 19.1, median 40.3, max 74.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.2 bn | 1.3 bn | 1.4 bn | 1.4 bn | 1.7 bn | 3.7 bn | 4.3 bn | 4.6 bn |
| Revenue YoY | +20.5% | +12.7% | +4.4% | +2.9% | +22.4% | +112.2% | +16.4% | +7.2% |
| Net income | 121.5 m | 149.0 m | 170.1 m | 151.9 m | 319.7 m | 206.5 m | 413.1 m | 428.4 m |
| Net income YoY | +61.9% | +22.7% | +14.1% | −10.7% | +110.5% | −35.4% | +100.0% | +3.7% |
| Diluted EPS | 1.11 | 1.36 | 1.54 | 1.36 | 2.86 | 1.04 | 2.01 | 2.04 |
| Diluted EPS YoY | +60.9% | +22.5% | +13.2% | −11.7% | +110.3% | −63.6% | +93.3% | +1.5% |
| net % | 10.4% | 11.3% | 12.4% | 10.7% | 18.4% | 5.6% | 9.6% | 9.3% |
| Free cash flow | 127.4 m | 319.2 m | 243.6 m | 307.8 m | 431.1 m | 316.1 m | 764.6 m | 719.2 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 531.5 m USD
- Financial debt
- 2.4 bn USD
- Net debt
- 1.9 bn USD
- Equity
- 5.6 bn USD
- Total assets
- 12.1 bn USD
- Debt / equity
- 0.43x
- Current ratio
- 1.10x
- ROE
- 7.9%
- ROA
- 3.6%
- FCF margin
- 15.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.4 bn | 1.4 bn | 1.7 bn | 3.7 bn | 4.3 bn | 4.6 bn | SEC (XBRL)· 25 Feb 2026verified |
| SG&A | 410.3 m | 456.2 m | 539.9 m | 743.7 m | 773.9 m | 905.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | 263.2 m | 241.0 m | 453.5 m | 471.3 m | 761.2 m | 713.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 74.9 m | 87.9 m | 97.2 m | 352.2 m | 444.4 m | 483.4 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | 338.1 m ≈ | 328.9 m ≈ | 550.7 m ≈ | 823.5 m ≈ | 1.2 bn ≈ | 1.2 bn ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 35.6 m | 37.0 m | 57.9 m | 213.8 m | 233.7 m | 191.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | 235.9 m | 205.3 m | 406.0 m | 282.4 m | 550.1 m | 535.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 65.5 m | 53.4 m | 86.2 m | 76.4 m | 137.3 m | 108.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 170.1 m | 151.9 m | 319.7 m | 206.5 m | 413.1 m | 428.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | 1.54 | 1.36 | 2.86 | 1.04 | 2.01 | 2.04 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | 110.3 m | 111.4 m | 111.9 m | 168.2 m | 185.3 m | 186.9 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 278.8 m | 326.1 m | 494.3 m | 576.2 m | 533.9 m | 531.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 135.0 m | 150.9 m | 183.2 m | 731.5 m | 709.4 m | 706.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Inventories | 86.3 m | 102.5 m | 103.1 m | 166.5 m | 121.5 m | 139.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 556.8 m | 762.2 m | 963.1 m | 1.8 bn | 1.7 bn | 1.8 bn | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 492.1 m | 449.1 m | 459.1 m | 1.2 bn | 1.3 bn | 1.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 840.6 m | 947.7 m | 948.8 m | 4.5 bn | 4.5 bn | 4.7 bn | SEC (XBRL)· 25 Feb 2026verified |
| Intangibles (excl. goodwill) | 300.9 m | 350.5 m | 322.7 m | 2.9 bn | 2.7 bn | 2.5 bn | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 2.4 bn | 3.6 bn | 2.9 bn | 12.0 bn | 11.8 bn | 12.1 bn | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 243.8 m | 280.3 m | 258.7 m | 685.8 m | 782.0 m | 836.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 29.1 m | 6.1 m | 29.1 m | 13.7 m | 27.7 m | 137.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Long-term debt | 626.3 m | 1.7 bn | 577.1 m | 3.1 bn | 2.6 bn | 2.3 bn | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 514.6 m | 588.4 m | 795.2 m | 1.3 bn | 1.3 bn | 1.6 bn | SEC (XBRL)· 25 Feb 2026verified |
| Total liabilities | 1.3 bn | 2.5 bn | 1.6 bn | 6.5 bn | 6.1 bn | 6.1 bn | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 1.0 bn | 1.1 bn | 1.3 bn | 5.0 bn | 5.2 bn | 5.6 bn | SEC (XBRL)· 25 Feb 2026verified |
| Shares outstanding at year end | — | — | 111.1 m | — | — | — | SEC (XBRL)· 07 Nov 2022verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 257.9 m | 317.6 m | 463.1 m | 544.0 m | 932.0 m | 978.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 14.3 m | 9.8 m | 32.0 m | 227.9 m | 167.4 m | 259.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | 243.6 m ≈ | 307.8 m ≈ | 431.1 m ≈ | 316.1 m ≈ | 764.6 m ≈ | 719.2 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -276.7 m | -214.1 m | 77.2 m | -3.1 bn | -301.6 m | -552.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | -111.5 m | 960.9 m | -1.3 bn | 2.7 bn | -645.5 m | -461.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividends paid | 91.7 m | 103.8 m | 115.2 m | 298.0 m | 206.0 m | 258.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | 53.2 m | — | — | — | — | — | SEC (XBRL)· 18 Feb 2021verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 46 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 17.3 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation36
- Balance sheet56
- Quality42
- Growth50
- Returns54
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 32.15 – 104.71 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)60.34 – 104.06 (Mid 76.90)WACC 8.7% · starting FCFF 755.3 m USD · terminal value share of EV 76%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 23.1%
- Peers: EV/EBITDA66.31 – 104.71 (Mid 96.42)8 companies used · median multiple 15.7x · quartiles 11.4x – 16.9xBR, CPAY, EBAY, FICO, FIS, GPN, MELI, PYPL
- Peers: P/E32.15 – 75.89 (Mid 54.43)10 companies used · median multiple 22.8x · quartiles 13.5x – 31.8xBR, CPAY, EBAY, FICO, FIS, FISV, MA, MELI, MSCI, PYPL
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 46/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 8.1% | 22 (vs peers) | 10% |
| Net margin · Quality | 10.0% | 18 (vs peers) | 6% |
| FCF conversion · Quality | 126.2% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | 38.3% | 100 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | -10.7% | 0 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | 1.8x | 70 (vs peers) | 10% |
| Interest coverage · Balance sheet | 4.3x | 43 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 1.3x | 43 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 39.1x | 10 (vs peers) | 10% |
| EV/EBITDA · Valuation | 15.2x | 56 (vs peers) | 10% |
| FCF yield · Valuation | 3.5% | 44 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 1.6% | 23 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 46.4% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet56/100 · 3/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality42/100 · 3/3 factors with a value
- Returns54/100 · 2/2 factors with a value
- Valuation36/100 · 3/3 factors with a value
Memo
RB Global, Inc (RBA). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 4.6 bn USD in 2025; YoY growth 7.2%; net margin 10.0%; ROE 8.8%; net debt/EBITDA 1.8x.
The estimated value range is 60.34–104.06 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 76.90 USD, the price of 93.16 USD leaves a potential of -17.4% (value / price − 1) and a margin of safety of -21.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 46/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 126.2%
- Revenue CAGR 3Y: 38.3%
- Net debt / EBITDA: 1.8x
- Payout ratio (FCF): 46.4%
What contradicts it
- ROIC: 8.1%
- Net margin: 10.0%
- EPS CAGR 3Y: -10.7%
- P/E (TTM): 39.1x
- Shareholder yield (distributions): 1.6%
- The valuation methods diverge
Versus the vertical median
Services-Business Services, NEC (SIC 7389) · same industry (4-digit SIC) · compared with 11 companies
Only companies with a capitalisation between 2.0 bn and 125.0 bn (within 8× of the company's); 88 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| MELIMercadoLibre, Inc. | 84.3 bn | 45.2 | 27.5% | 5.3% | +39.1% | −20% / +3% |
| EBAYeBay Inc. | 52.1 bn | 25.8 | 46.6% | 16.9% | +7.9% | +43% / +189% |
| PYPLPayPal Holdings, Inc. | 48.4 bn | 11.1 | 23.8% | 13.8% | +4.3% | −7% / +1% |
| MSCIMsci Inc. | 45.7 bn | 33.9 | — | 40.3% | +9.7% | +13% / +23% |
| FISVFiserv, Inc. | 31.1 bn | 11.2 | 10.7% | 13.4% | +3.6% | −5% / −55% |
| CPAYCorpay, Inc | 26.7 bn | 24.7 | 30.5% | 22.7% | +13.9% | +37% / +69% |
| GPNGlobal Payments Inc. | 25.9 bn | — | -4.1% | -9.1% | −0.4% | +29% / −16% |
| BRBroadridge Financial Solutions, Inc. | 20.8 bn | 20.3 | 40.2% | 13.9% | +8.5% | −19% / −5% |
| FISFidelity National Information Services, Inc. | 20.1 bn | 6.0 | 22.3% | 27.6% | +5.4% | −41% / −34% |
| RBARB Global, Inc | 17.3 bn | 39.1 | 8.8% | 10.0% | +7.2% | −4% / +37% |
| FICOFair Isaac Corp | 15.6 bn | 20.9 | — | 34.1% | +15.9% | −60% / −33% |
| MAMastercard Incorporated | — | 33.8 | 231.4% | 46.7% | +16.4% | +18% / +56% |
1- and 3-year price returns: for RBA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 66.73 Total return -27% · Per year -27% | 117.44 Total return 28% · Per year 28% | 176.16 Total return 91% · Per year 91% |
| 3 years | 79.15 Total return -11% · Per year -4% | 155.31 Total return 73% · Per year 20% | 253.67 Total return 180% · Per year 41% |
| 5 years | 93.89 Total return 8% · Per year 2% | 205.40 Total return 132% · Per year 18% | 365.28 Total return 307% · Per year 32% |
- Exit P/E± 38.83
- Net margin± 27.18
- Annual revenue growth± 20.27
- Annual dilution± 2.28
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
RB Global is a global auction and marketplace platform for commercial assets and vehicles, with total GTV of 16.2 billion USD in fiscal 2025 1. In the second quarter of 2026, GTV rose 11% to 4.7 billion USD, and full-year 2026 GTV growth guidance was raised to 9% to 11% 23.
SWOT
Strengths
Weaknesses
- A significant share of revenue depends on a small number of large vehicle suppliers, and insurance company agreements can be cancelled at short notice 1.
- Operating costs such as towing and labour can rise faster than they can be passed on to customers 1.
- The service revenue take rate declined in the second quarter of 2026, partly due to the mix of recent acquisitions 2.
Opportunities
- Recent acquisitions in agriculture and the southern United States could extend the company's reach into new customer segments 2.
- Government contracts and expansion in Australia could add remarketing volumes over time 1.
- Infrastructure projects and reshoring could increase demand for used heavy equipment 12.
Risks
- Dependence on large suppliershigh
A small number of large suppliers, mainly insurance companies, generate a significant part of revenue, and contracts can be cancelled on short notice 1.
- Auction competitionmedium
Large competitors and online platforms could reduce commissions or draw away suppliers, which could affect margins 1.
- Transport and labour costsmedium
A shortage of towers and haulers and rising fuel and wage costs could increase operating expenses if they cannot be passed on 1.
- Catastrophes and weathermedium
Storms and other extreme events can disrupt auctions or create sudden influxes of vehicles the company may not be able to absorb 1.
- Environmental and integration riskslow
Some sites carry pollution issues, and integrating recent acquisitions may prove harder than expected, affecting profitability 12.
Investment thesis
What would need to be true (bull case)
- GTV growth in the second quarter of 2026 and the raised full-year outlook could suggest the marketplace model remains solid, if automotive demand and acquisitions keep supporting volumes 23.
- If its leadership in automotive auctions and its expansion into agriculture hold up, the company could gain additional market share in the coming years 12.
- The share repurchase programme and a growing dividend show a commitment to returning capital, which could sustain long-term shareholder interest 23.
What would break the thesis
- A declining service revenue take rate and sensitivity to accident volumes could limit profit growth if current trends persist 2.
- Heavy equipment customers have become more cautious, and if economic uncertainty persists, HE&T transaction volumes could stay under pressure 2.
- Recent acquisitions add growth but also the risk that integration does not deliver the expected returns quickly, which could weigh on margins 12.
What to watch
- Delivery of the 2026 GTV and adjusted EBITDA outlookQ4 2026
- Development of the service revenue take rate after the BigIron and Blackmon acquisitionsQ3 2026
- Trend in accident volumes and total-loss declarations in the automotive segment2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
In 2026 the company extended its portfolio with the BigIron acquisition, an online marketplace for agricultural equipment, land and livestock, and the Blackmon business assets, an auction provider in the south central United States 2. It has also invested in technology, including a new digital payments platform implemented by Ritchie Bros. in the United States 1.
From 2026 the company reorganized its sector reporting into Automotive and Heavy Equipment & Transportation, with vehicles split into salvage and non-salvage sales 2. Service revenue is split among seller commissions, buyer fees and marketplace services 12.
Market context
The commercial asset and vehicle auction market depends on accident volumes, the share of total-loss declarations and inflationary pressures, which feed into GTV and operating costs 12. In 2026 the inflation gap between auto repair costs and used vehicle prices stayed positive, which could support more total-loss declarations, although underinsured accidents continue to limit volumes 2.
In heavy equipment, demand depends on infrastructure investment, large construction projects and reshoring, but customers became more deliberate in the second quarter of 2026 2. Competition is fragmented by geography and transaction format, with online and physical auctioneers, brokers and dealers 1.
Trends
- Auto inflation gaptailwind
The gap between repair costs and used vehicle prices remained positive, supporting a higher share of total-loss declarations and salvage activity 12.
- Underinsured accidentsheadwind
Underinsured accidents can delay or reduce total-loss designations, limiting the flow of vehicles into salvage channels 12.
- Heavy equipment seller confidencemixed
Stabilizing used equipment values and large infrastructure projects supported demand, but customer decisions became slower in the second quarter of 2026 12.
- Labour and fuel costsheadwind
Higher fuel prices, wages and a shortage of towers and haulers could raise towing and operating costs, affecting profitability if they cannot be passed on to customers 1.
Competitive position
In the automotive salvage segment the company competes mainly with Copart and other independent used vehicle auction companies, and in non-salvage with Adesa, Manheim, ACV Auctions and other auctioneers 1. In heavy equipment, competitors include online and physical auctioneers, brokers, OEMs and dealers offering trade-in 1.
The company cites its global platform, data and valuation services, trusted local customer relationships and deep buyer base as advantages 1. It notes that some competitors may have greater financial and marketing resources or respond faster to new technologies 1.
- Copart, Inc.CPRT
Main competitor in the automotive salvage segment, alongside other independent used vehicle auction companies 1.
- Adesa
Competitor in the non-salvage automotive segment, offering live and online wholesale solutions 1.
- Manheim
Competitor in the non-salvage automotive segment, with online and live wholesale auctions 1.
- ACV Auctions
Competitor in the non-salvage automotive segment, offering online and live wholesale auction solutions 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- RB Global (RBA) Doubles its Buyback Authorization. Can Cash Generation Support it?Yahoo Finance — News · 20 Sept 2026 · EN
- RB Global’s (RBA) Earnings Jump While Its Take Rate ShrinksYahoo Finance — News · 18 Sept 2026 · EN
The latest news item in our archive is from 20 Sept 2026; the newest SEC filing is from 08 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report08 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report15 Sept 2026Other events · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Other events · Financial statements and exhibits
- Current report18 May 2026Other events · Financial statements and exhibits
- Quarterly report04 May 2026
- Current report04 May 2026Results of operations · Other events · Financial statements and exhibits
- Current report01 May 2026Shareholder vote
- Current report23 Apr 2026Other events · Financial statements and exhibits
- Proxy statement19 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / RB Global, Inc. · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / RB Global, Inc. · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / RB Global, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.