RB Global Inc

Latest Results (29.04.2026):

RB Global, Inc. reported fourth quarter 2025 results: Q4 GTV rose 4% year‑over‑year to $4.28 billion and total revenue grew 5% to $1.20 billion; GAAP net income was down 8% to $109.4 million (net income available to common $99.1M; diluted EPS $0.53), while diluted adjusted EPS improved 17% to $1.11 and adjusted EBITDA increased 10% to $379.6 million. The company also provided full‑year 2026 guidance, including adjusted EBITDA of $1,470–$1,530 million and expected GTV growth of 5–8%.

GTV & Revenue

GTV for Q4 2025 was $4,281.1M, up 4% YoY; total revenue was $1,203.4M, up 5% YoY driven by higher service revenue (up 5% to $917.5M) and inventory sales (up 7% to $285.9M).

Profitability & EPS

GAAP net income for Q4 fell 8% YoY to $109.4M and diluted EPS declined 9% to $0.53. On an adjusted basis, diluted adjusted EPS rose 17% YoY to $1.11, reflecting adjustments for items like amortization and executive transition costs.

Adjusted EBITDA & Operational Performance

Adjusted EBITDA for Q4 was $379.6M, a 10% YoY increase, supported by a modest expansion in service revenue take rate (up 10 bps to 21.4%) and higher GTV, partially offset by higher operating expenses and lower inventory return.

2026 Financial Outlook

Management expects 2026 full‑year GTV growth of 5–8%, adjusted EBITDA of $1,470–$1,530M, a GAAP/adjusted tax rate of 23–25%, and capital expenditures of $350–$400M.

Cash Flow & CapEx

RB Global generated strong operating cash flow in 2025 ($978.2M for the year) and plans meaningful 2026 capex of $350–$400M to support growth and platform investments.

Balance Sheet & Leverage

At Dec 31, 2025 cash and equivalents were $531.5M; year‑end debt totaled ~$2.47B. Adjusted net debt was $1.94B, yielding an adjusted net debt/adjusted EBITDA of ~1.4x (down from 1.6x in 2024).

Inventory & Key Metrics

Inventory sales revenue increased 7% in Q4 to $285.9M but inventory rate declined 120 bps YoY to 4.5% (unfavorable asset mix); total lots sold were essentially flat (+1% YoY to 875.3k).

Sector Performance

Automotive GTV was the largest sector ($2,200.7M, +3% YoY) driven by market share gains and stronger average prices; CC&T grew 9% in the quarter (partly reflecting the J.M. Wood acquisition).

One‑time Items & Legal/Arbitration

Q4 included significant adjusting items: $43.2M of executive transition costs reflecting a $59.6M arbitration award to the former CEO recorded in 2025, acquisition/integration costs (including J.M. Wood), and amortization of acquired intangibles (large non‑cash items).

Investor Events & Call

RB Global hosted its Q4/FY2025 earnings call on Feb 17, 2026 and will participate in investor conferences in Q1 2026; management emphasized margin discipline, cash generation, and continued strategic investments.