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Global marketplace and auction operator for heavy equipment, trucks and salvage vehicles, combining Ritchie Bros. auctions with IAA.
Global marketplace and auction operator for heavy equipment, trucks and salvage vehicles, combining Ritchie Bros. auctions with IAA.
Mostly acts as agent, earning commission from sellers and fees from buyers rather than owning what is sold, though it sometimes guarantees or buys equipment outright. Salvage volumes come from insurers moving written-off vehicles. Buying IAA in 2023 added the salvage business and renamed the group from Ritchie Bros.
In one line: Canada's Copart, expanded into heavy equipment.
Moat: wide (network effects, scale, brand). Two-sided marketplace network effects and decades of buyer/seller trust in equipment and salvage auctions.
Headquarters: Westchester, Illinois / Vancouver, Canada · Founded: 1958 · Employees: 8,700
Size RB Global (RBA.TO) is a Canada Industrials company (Internet Software/Services) with a market value of $17.4B, the 50th largest of 420 Canada companies the cockpit tracks. Shares closed at C$131.85 on 6 Nov 2026.
Performance Over six months the shares fell 6.6%, against -8.2% for the median peer and +5.2% for the Canada market (cap-weighted) — 6th highest of 13 in its peer set.
Growth Revenue grew 8.6% over the last twelve months (peer median +10.1%); the operating margin is 17.8% (peer median 11.2%).
Valuation It trades at 19.9× forward earnings against a peer median of 20.0× (7th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +28%, so the hurdle is -21 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.9 points above its cost of capital (5.0% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$6.70B | C$6.41B | C$5.87B | C$4.97B | C$2.26B |
| Revenue growth | — | +9% | +18% | +120% | — |
| Gross profit | C$2.35B | C$2.30B | C$2.14B | C$1.92B | C$1.12B |
| EBITDA | C$2.13B | C$2.04B | C$1.91B | C$1.55B | C$568M |
| Net income | C$669M | C$591M | C$566M | C$279M | C$416M |
| Free cash flow | C$845M | C$1.00B | C$1.05B | C$595M | C$578M |
| Capital expenditure | C$496M | C$525M | C$379M | C$467M | C$93.7M |
| Total debt | C$6.41B | C$5.74B | C$6.17B | C$6.12B | C$1.02B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| RB Global RBA.TO | $17.4B | -7% | +9% | 18% | 19.9× | 6.9% |
| Copart CPRT | $29.6B | -6% | 0% | 35% | 19.7× | 7.2% |
| Liquidity Services LQDT | $1.37B | +21% | +5% | 9% | 24.8× | 16.2% |
| OPENLANE OPLN | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RBA.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.0% | +8.1% | 2nd highest of 13 |
| 6-month return | -6.6% | -8.2% | 6th highest of 13 |
| Distance from 52-week high | -20.8% | -22.5% | 6th highest of 13 |
| Revenue growth (TTM) | +8.6% | +10.1% | 6th lowest of 13 |
| Operating margin | 17.8% | 11.2% | 4th highest of 13 |
| Forward P/E | 19.9× | 20.0× | 7th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 6.9% | 10.7% | 4th least demanding of 12 |
| Growth delivered (Del g) | +28.3% | +10.9% | highest of 11 |
| Hurdle (Req g minus delivered) | -21.4 pp | -1.6 pp | least demanding of 11 |
| ROIC minus cost of capital | +0.9 pp | +3.0 pp | 4th lowest of 13 |
| EV / EBITDA | 14.4× | 12.5× | 4th most expensive of 13 |
| Net debt / EBITDA | 2.6× | 2.0× | 4th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| RB Global RBA.TO | Canada | $17.4B | -7% | +9% | 18% | 19.9× | 6.9% | +28.3% |
| WSP Global WSP.TO | Canada | $17.5B | -19% | +10% | 10% | 14.4× | 0.0% | +15.7% |
| Bombardier BBD-B.TO | Canada | $22.5B | +8% | +11% | 11% | 22.1× | 19.0% | +8.9% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| Atkinsrealis ATRL.TO | Canada | $9.94B | -7% | +15% | 7% | 19.9× | 11.4% | +9.6% |
| CAE CAE.TO | Canada | $8.67B | +3% | +5% | 13% | 29.5× | 13.2% | +10.5% |
| Stantec STN.TO | Canada | $8.42B | -16% | +10% | 10% | 16.0× | 3.9% | +11.5% |
| Finning International FTT.TO | Canada | $8.20B | -9% | 0% | 8% | 17.5× | 10.1% | +11.3% |
| TFI International TFII.TO | Canada | $7.86B | -29% | +3% | 7% | 14.2× | 11.6% | +16.8% |
| Waste Connections WCN.TO | Canada | $47.6B | +27% | +6% | 18% | 31.6× | 10.7% | +12.6% |
| Thomson Reuters TRI.TO | Canada | $49.1B | +25% | +6% | 26% | 24.8× | 2.7% | +5.4% |
| Groupe Dynamite GRGD.TO | Canada | $4.79B | -33% | +37% | 32% | 17.6× | 22.8% | n/a |
| Exchange Income EIF.TO | Canada | $4.77B | +13% | +33% | 11% | 24.6× | n/a | n/a |