RB Global (TSE:RBA)
TSX:RBA
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RB Global
(TSX:RBA)
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Rating:64Neutral
Price Target:
C$158.00
â–²(14.49% Upside)
Action:DowngradedDate:02/19/26
The score is driven mainly by solid financial performance (scaled revenue base, positive earnings, and strong free cash flow) and supportive earnings-call guidance for continued GTV/EBITDA growth. These positives are tempered by weak technical momentum and a demanding valuation (high P/E), with rising leverage and margin compression as key fundamental watch items.
Positive Factors
Cash generation
Consistent near‑billion operating cash flow and material free cash flow provide durable financial flexibility. Over the medium term this supports debt service, targeted tuck‑ins, disciplined capex, dividends and potential buybacks without relying on external funding.
Negative Factors
Rising leverage
Material leverage reduces financial flexibility and increases vulnerability to revenue shocks. Higher debt limits discretionary capital allocation, raises interest expense sensitivity, and constrains ability to execute opportunistic M&A or buybacks during a downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent near‑billion operating cash flow and material free cash flow provide durable financial flexibility. Over the medium term this supports debt service, targeted tuck‑ins, disciplined capex, dividends and potential buybacks without relying on external funding.
Read all positive factors
RB Global (RBA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$25.65B
Dividend Yield1.16%
Average Volume (3M)236.59K
Price to Earnings (P/E)43.8
Beta (1Y)0.78
Revenue Growth11.26%
EPS Growth17.45%
CountryCA
Employees7,900
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)1.52
Shares Outstanding185,900,000
10 Day Avg. Volume184,081
30 Day Avg. Volume236,588
Financial Highlights & Ratios
PEG Ratio14.81
Price to Book (P/B)3.16
Price to Sales (P/S)4.08
P/FCF Ratio26.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$184.93Price Target Upside34.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)5.98
Revenue Forecast (FY)C$6.52B
RB Global Business Overview & Revenue Model
Company Description
RB Global, Inc., an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial asset...
How the Company Makes Money
RB Global generates revenue primarily through transaction fees collected from vehicle sales facilitated on its platforms. This includes fees from both sellers who list their vehicles for auction and buyers who purchase them. Additionally, RBA earn...
RB Global Earnings Call Summary
Earnings Call Date:Feb 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 04, 2026
Earnings Call Sentiment Positive
The call emphasized disciplined execution, margin expansion, product innovation and tangible commercial wins (renewals and pipeline), supported by clear 2026 guidance for mid-single-digit GTV growth and low-double-digit EBITDA growth. Headwinds include modest full-year GTV growth, sector cyclicality (notably CC&T and a bankruptcy impact), potential pressure on take rates for select contracts, and comparability noise from prior-year catastrophes. Overall, positive operational momentum and multiple strategic initiatives outweigh the near-term and cyclical challenges.Positive Updates
Adjusted EBITDA Growth and Margin Expansion
Adjusted EBITDA increased 10% in the fourth quarter and 7% for the full year; adjusted EBITDA margin (as a percent of GTV) expanded to 8.9% from 8.4% year-over-year, reflecting operating leverage and tight cost management.
Negative Updates
Modest Full-Year GTV Growth
While Q4 showed improvement, full year total GTV grew only 2%, indicating that growth was uneven across the year and some sectors faced headwinds.
Read all updates
Q4-2025 Updates
Positive
Negative
Adjusted EBITDA Growth and Margin Expansion
Adjusted EBITDA increased 10% in the fourth quarter and 7% for the full year; adjusted EBITDA margin (as a percent of GTV) expanded to 8.9% from 8.4% year-over-year, reflecting operating leverage and tight cost management.
Read all positive updates
Company Guidance
RB Global guided 2026 GTV growth of 5–8% and full‑year adjusted EBITDA of $1.47–$1.53 billion (≈7% growth at the midpoint), expecting volume‑led service‑revenue growth and continued market‑share gains; management also forecast full‑year CapEx of $350–$400 million and a GAAP and adjusted tax rate of 23–25%, and said it will convert incremental volume to EBITDA through operational excellence. For context, Q4 adjusted EBITDA margin expanded to 8.9% (from 8.4% prior year), the service‑revenue take rate was ~21.4%, full‑year 2025 adjusted EBITDA rose ~7% (adjusted EPS +15%), the company generated nearly $1.0 billion of operating cash flow in 2025 and finished the quarter at ~1.4x net debt‑to‑adjusted EBITDA—metrics management cited as informing capital allocation (debt paydown, capex, tuck‑ins, dividends and possible share‑repurchase authorization).RB Global Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.67B | 4.28B | 3.68B | 1.73B | 1.42B |
| Gross Profit | 1.67B | 2.02B | 1.79B | 967.00M | 822.70M |
| EBITDA | 1.48B | 1.23B | 1.03B | 417.20M | 357.70M |
| Net Income | 435.90M | 413.10M | 206.50M | 319.70M | 151.90M |
Balance Sheet | |||||
| Total Assets | 12.12B | 11.81B | 12.04B | 2.86B | 3.59B |
| Cash, Cash Equivalents and Short-Term Investments | 693.54M | 533.90M | 576.20M | 494.30M | 326.11M |
| Total Debt | 5.50B | 4.56B | 4.77B | 759.80M | 1.87B |
| Total Liabilities | 6.06B | 6.09B | 6.53B | 1.57B | 2.52B |
| Stockholders Equity | 6.04B | 5.71B | 5.50B | 1.29B | 1.07B |
Cash Flow | |||||
| Free Cash Flow | 731.79M | 727.60M | 447.74M | 430.80M | 302.60M |
| Operating Cash Flow | 995.32M | 886.97M | 679.34M | 461.82M | 312.25M |
| Investing Cash Flow | -562.58M | -287.12M | -3.16B | 75.03M | -210.47M |
| Financing Cash Flow | -469.48M | -614.22M | 2.72B | -1.22B | 944.77M |
RB Global Technical Analysis
Neutral
138.00
Price Trends
141.41
Negative
142.95
Negative
146.10
Negative
Market Momentum
-0.96
Negative
52.37
Neutral
76.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RBA, the sentiment is Neutral. The current price of 138 is above the 20-day moving average (MA) of 134.42, below the 50-day MA of 141.41, and below the 200-day MA of 146.10, indicating a neutral trend. The MACD of -0.96 indicates Negative momentum. The RSI at 52.37 is Neutral, neither overbought nor oversold. The STOCH value of 76.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:RBA.
RB Global Risk Analysis
RB Global disclosed 56 risk factors in its most recent earnings report. RB Global reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Combining the businesses of Ritchie Bros. and IAA may be more difficult, costly or time-consuming than expected, and we may fail to realize the anticipated benefits of the acquisition, which may adversely affect our business results and negatively affect the value of our common shares. Q1, 2023
2.
We may be unable to realize the anticipated cost synergies and other opportunities expected from the acquisition of IAA, which could adversely affect our business, financial condition and results of operations. Q1, 2023
3.
Completion of the acquisition may trigger change in control, assignment or other provisions in certain agreements to which IAA is a party, which may have an adverse impact on the Company's business and results of operations. Q1, 2023
RB Global Peers Comparison
UnderperformOutperform
Sector (63)
TSE:RBA
RB Global
138.00
6.95
5.30%
TSE:TRI
Thomson Reuters
117.27
-112.24
-48.90%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.