RB Global Inc
RBA - Insider Information
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+ FollowMarket Cap$23.22B
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Earnings Call Q2 2026
August 4, 2026 - AI Summary
Q2 performance was strong and shows operating leverage
- Total GTV: +$4.7B, +11% YoY
- Adjusted EBITDA: +6% YoY
- Service revenue: +5% YoY but service revenue take rate fell 110 bps YoY to 20% (mix effects, acquisitions, and automotive volume incentives)
- Adjusted EPS: +6% YoY
- Management emphasized they prioritize $-based economics (service revenue dollars / adjusted EBITDA dollars) over percentage take rate, so margin optics can move even when value creation is solid.
2026 outlook raised (growth still “volume-led”)
- 2026 GTV: raised to +9% to +11% growth range
- 2026 adjusted EBITDA: expected ~+8.6% at midpoint
- Outlook explicitly incorporates ~$500M GTV contribution from the BigIron acquisition
- Expectation: EBITDA growth ahead of service revenue growth (continued operating leverage), but still not a fully normalized take-rate run-rate yet for acquisitions.
Big “surprise/opportunity”: BigIron acquisition completes; integration progressing
- Acquisition completed in May; positioned as a scaled, trusted global partner in U.S. agriculture
- BigIron expands RB’s participation in a large U.S. ag market (~$60B annual transactional volume in North America; agriculture accounts for the majority of it per management); equipment is about half and real estate/land is the remainder (land deals carry low single-digit take rates)
- Management’s 3 durable growth drivers in ag:
1) recurring equipment replacement / productivity investment
2) generational farm transitions & consolidation
3) online auctions/marketplaces still underpenetrated
- Challenge/negative: integration and take-rate impacts mean near-term margin/take-rate may not represent stable “run-rate”; real estate adoption may lag until later in the farming cycle.
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$341.07
265.1% upside
Current Fair Value
265.1% upsideUndervalued by 265.1% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $23.22 Billion |
|---|---|
| Enterprise Value | $25.68 Billion |
| Annual dividend | $1.26 |
| Dividend yield | 1.39% |
| Earnings per Share | $2.09 |
| Beta | 0.53 |
| Outstanding Shares | 185,800,000 |
Return
| Return on Equity | 8.02% |
|---|---|
| Return on Assets | 3.89% |
| Return on Invested Capital | 7.45% |
Valuation & Multiples
| P/E Ratio | 38.28 |
|---|---|
| PEG | 133.98 |
| Price to Sales | 3.59 |
| Price to Book Ratio | 2.92 |
| Enterprise Value to Revenue | 5.28 |
| Enterprise Value to EBIT | 31.22 |
| Enterprise Value to Net Income | 52 |
| Total Debt to Enterprise | 0.12 |
| Debt to Equity | 0.49 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 5, 2026
EPS Estimate
$1.16
Consensus analyst estimateRevenue Estimate
$1.20 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 5, 2026
EPS Estimate
$0.99
Consensus analyst estimateRevenue Estimate
$1.16 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 107.61% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.16%▼ 93.65% |
|---|---|
| Total Invested | $783.75M▼ 96.34% |
| Investors Holding | 152▼ 426.00% |
About Ritchie Bros Auctioneers Inc
2,200 employees
CEO: Ann Fandozzi
Established in 1958, Ritchie Bros. is a global asset management and disposition company, oQering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, inclu...