At a glance
RB Global Inc. is worth $15.63B, about 41 times its fiscal 2025 earnings. Revenue grew 7.2% to $4.59B in fiscal 2025, with 9.3% kept as profit; over 5 years it has grown 27.2% a year. It pays a 1.49% dividend yield, and returned $981.1M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −17.2% over the past year with dividends reinvested and +6.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 37.8% in the 2020 crash (S&P 500: 33.7%) and 19.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 1 month and 4 months after the lows.
The business in plain English
RB Global, formerly Ritchie Bros. Auctioneers, runs marketplaces where used vehicles and commercial equipment change hands, both online and at physical auction sites. Its main brands are Ritchie Bros., which the company calls the world's largest auctioneer of commercial assets and vehicles, and IAA, a digital vehicle marketplace that handles many damaged, total-loss and low-value cars. A total loss is a car an insurer has judged not worth repairing. Its customers are mainly auto insurers, dealers, fleet owners, end users and equipment makers, spread across about 170 countries.
Most revenue comes from transaction fees. Of the $4.59 billion in revenue for the year ended December 31, 2025, fees charged to buyers made up 48.8% and fees charged to sellers 20.2%. Another 23.7% came from selling vehicles and equipment the company owned outright, and 7.3% came from services such as appraisals, inspections, refurbishing and loan brokering. Smaller brands include Rouse (equipment valuations), SmartEquip (parts-ordering software) and VeriTread (a heavy-haul transport marketplace).
Its sectors are automotive; commercial, construction and transportation, which covers earthmoving and lifting equipment plus trucks and trailers; and other, which includes farm, forestry and energy assets and government surplus. The United States supplied 72% of FY2025 revenue, Canada 15.2%, Europe 7.4% and Australia 3.3%. The company was founded in 1958, is incorporated in Ontario, Canada, and has about 8,000 full-time employees.
Price history
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RBA -17.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Transactional buyer revenue | $2.24B | 48.8% |
| Inventory sales revenue | $1.09B | 23.7% |
| Transactional seller revenue | $928.8M | 20.2% |
| Marketplace services revenue | $335.1M | 7.3% |
By geography
| United States | $3.31B | 72% |
| Canada | $695.6M | 15.2% |
| Europe | $338.9M | 7.4% |
| Australia | $151.2M | 3.3% |
| Other | $97.8M | 2.1% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.32B, up 11.1% from a year earlier, and net income was $143.5M (+30.7%).
- For fiscal 2025, revenue was $4.59B (+7.2% year over year; +27.2% a year from FY2020 to FY2025) with a 9.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +27.2% good |
|---|---|
| Operating margin | 15.5% good |
| Free cash flow margin | 15.7% good |
| Return on equity (FY2025) | 7.7% weak |
| Return on assets (FY2025) | 3.5% watch |
| Net cash (cash minus debt) | $-2.36B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.38B | $170.1M | $243.6M |
| FY2021 | $1.42B | $151.9M | $307.8M |
| FY2022 | $1.73B | $319.7M | $431.1M |
| FY2023 | $3.68B | $206.5M | $316.1M |
| FY2024 | $4.28B | $413.1M | $764.6M |
| FY2025 | $4.59B | $428.4M | $719.2M |
Valuation snapshot
| Market value | $15.63B |
|---|---|
| P/E ratio | 41.4 |
| Dividend yield | 1.49% |
Rank among 1514 US companies
Market value at each year end
RB Global’s market value went from $3.63B at the end of 2016 to $15.63B on Oct 28, 2026, about 4.3 times as much; since the end of 2025 it is down 18%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $15.63B | -18.2% |
| 2025 | $19.10B | +14.8% |
| 2024 | $16.64B | +36.4% |
| 2023 | $12.20B | +90.2% |
| 2022 | $6.41B | -5.2% |
| 2021 | $6.77B | -11.1% |
| 2020 | $7.61B | +63.7% |
| 2019 | $4.65B | +30.8% |
| 2018 | $3.55B | +10.8% |
| 2017 | $3.21B | -11.6% |
| 2016 | $3.63B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| RBA price data to Oct 28, 2026 | -17.2% | -17.2% | +12.3% | +6.5% | +11.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -17.2% |
| 2025 | +15.7% |
| 2024 | +36.8% |
| 2023 | +20.2% |
| 2022 | -3.9% |
| 2021 | -10.7% |
| 2020 | +64.6% |
| 2019 | +33.9% |
| 2018 | +11.6% |
| 2017 | -9.4% |
| 2016 | +44.8% |
| 2015 | -8.3% |
| 2014 | +20.0% |
| 2013 | +12.5% |
| 2012 | -3.3% |
| 2011 | -2.4% |
| 2010 | +5.0% |
| 2009 | +6.4% |
| 2008 | -21.1% |
| 2007 | +57.2% |
| 2006 | +27.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 37.9% over that stretch · deepest drop along the way 51.3%, back to its old high 24.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 35.5% over that stretch · deepest drop along the way 37.8%, back to its old high 1.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 0.8% over that stretch · deepest drop along the way 19.2%, back to its old high 4.1 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 3 open-market purchases ($141K) and 1 sales ($17K), 1 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 24, 2026 | Chloe Harford Director | buy | $100K |
| Sep 9, 2026 | Deborah Stein Director | buy | $24K |
| Jun 25, 2026 | Christopher Carlson Chief Accounting Officer | sell (plan) | $17K |
| Sep 9, 2026 | Deborah Stein Director | buy | $16K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 12% | Mar 31, 2026 |
| Vanguard Capital Management | 9.3% | Mar 31, 2026 |
| EdgePoint Investment Group Inc. | 5.13% | Jun 30, 2026 |
| Beutel, Goodman & Co Ltd. | 3.8% | Dec 31, 2023 |
| FIL Limited | 3.4% | Mar 31, 2026 |
| Independent Franchise Partners, LLP | 3.1% | Mar 31, 2025 |
ETFs with the most weight in RBA
| XMMO Invesco S&P MidCap Momentum ETF | 2.03% |
| RFG Invesco S&P MidCap 400® Pure Growth ETF | 1.37% |
| SDY SPDR S&P Dividend ETF | 0.59% |
| SCHM Schwab US Mid-Cap ETF | 0.45% |
| SIXL ETC 6 Meridian Low Beta Equity ETF | 0.42% |
| TPIF Timothy Plan International ETF | 0.33% |
| CVSE Calvert US Select Equity ETF | 0.32% |
| VB Vanguard Small Cap ETF | 0.31% |
What could go wrong
- Three suppliers drive almost a quarter of revenue. About 23% of FY2025 revenue came from vehicles supplied by the company's three largest suppliers. Insurer contracts can generally be canceled on 30 to 90 days' notice, and lost volume may be hard to replace.
- Fewer wrecks or total losses. IAA needs a steady flow of damaged and total-loss cars. Less driving, mild weather, driver-assistance technology, or insurers choosing to repair more cars rather than total them could shrink that supply.
- Price guarantees and buyer payment risk. The company sometimes guarantees sellers a minimum price, advances them cash or owns assets outright, and IAA bears the risk that buyers fail to pay. Weak auction prices could turn these into losses.
- Strong rivals, led by Copart in salvage. Copart is the main rival in salvage, or damaged-vehicle, sales. Manheim, Adesa and ACV Auctions compete in other used-vehicle sales. Equipment competition is fragmented, big fleets can deal privately, and tech-driven newcomers could take share.
- Swings in used equipment and vehicle prices. Revenue rises and falls with the value and volume of what passes through its auctions. Lower used-equipment or used-car prices, inflation, tariffs, high fuel costs or interest-rate moves can reduce proceeds and fees.
- Substantial debt limits flexibility. As of June 30, 2026, total debt was about $2.89 billion against $525 million in cash and investments. Lender rules called covenants limit some choices, and heavy borrowing could strain the company in a downturn.
Recent events
- Executive or board change; Investor presentation or announcement
- Other company announcement
- Quarterly results released; Other company announcement
- Other company announcement
- Quarterly results released; Other company announcement
- Shareholder vote results
- Other company announcement
- Executive or board change
- Other company announcement
- Other company announcement
For income and retirement investors
RB Global pays a dividend, but its record of raises is short. Regular dividends per share grew from $0.83 in FY2020 to $1.38 in FY2025, about 10.7% a year. However, FY2024's $1.11 was below FY2023's $1.77, so the streak of increases is one year. In FY2025, dividends used about 60% of earnings and 36% of free cash flow, which is the cash left after running and investing in the business. The yield was 1.49% as of October 28, 2026. The company reported no share buybacks from FY2021 to FY2025. Its share count rose about 68% between August 2021 and July 2026, so each share now represents a smaller slice of the company.
In the 2008 financial crisis the shares fell 51.3% and took about 25 months to recover. They dropped 37.8% in the 2020 COVID crash but recovered in about 1.4 months, and fell 19.2% during the 2022 bear market before recovering in about 4.1 months. Single stocks carry more risk than diversified funds.
Questions investors ask
How does RB Global make money?
Mainly through fees when vehicles and equipment change hands on its marketplaces. Of FY2025 revenue of $4.59 billion, fees charged to buyers made up 48.8% and fees charged to sellers 20.2%. Sales of assets the company owned outright added 23.7%, and services such as appraisals, inspections, refurbishing and loan brokering added 7.3%. Its main brands are Ritchie Bros., for commercial equipment and trucks, and IAA, a digital marketplace for damaged, total-loss and low-value vehicles.
Does RB Global raise its dividend every year?
No. Regular dividends per share grew from $0.83 in FY2020 to $1.38 in FY2025, an average of about 10.7% a year. But FY2024's $1.11 was lower than FY2023's $1.77, so the streak of annual increases is just one year. In FY2025 the dividend used about 60% of earnings and 36% of free cash flow, so the cash the business generated covered it with room to spare. The yield was 1.49% as of October 28, 2026.
Is RB Global the same company as Ritchie Bros.?
Yes. RB Global was formerly called Ritchie Bros. Auctioneers Inc., and Ritchie Bros. remains one of its main marketplace brands. The company describes it as the world's largest auctioneer of commercial assets and vehicles. The business was founded in 1958 and is incorporated in Ontario, Canada, though the United States supplied 72% of FY2025 revenue. It also owns IAA, a vehicle marketplace that was once part of KAR Auction Services, plus Rouse, SmartEquip and VeriTread. Its shares trade on the NYSE under the symbol RBA.
Who are RB Global's main competitors?
In salvage vehicles, meaning damaged cars sold mostly by insurers, its chief rival is Copart, along with several independent auction companies. In other used vehicles, it competes with Manheim, Adesa, ACV Auctions and other online and live wholesale auctioneers. In construction equipment and trucks, competition is fragmented. Rivals include online and on-site auctioneers, brokers, and equipment makers and dealers that offer trade-ins, while large fleet owners can arrange private sales. The company warns that new technology-based options for sellers keep changing the market.
How has RB Global stock performed?
It has done well over 10 years but poorly over the past year. As of October 28, 2026, the share price was down 17.2% over one year and 27.3% over three months, with a 32.5% drop from peak to low within that year. Annualized price returns were 12.3% over three years, 6.5% over five years and 11.6% over ten years, a cumulative gain of 199% over the decade. The price-to-earnings ratio was 41.4 based on FY2025 earnings, so investors paid about 41 times annual profit per share.