TacticScaleWhat RB Global Does & How It Makes Money (RBA)
Updated October 2026 · reflects RB Global's latest reported financials
Global marketplace for buying and selling used commercial equipment and vehicles. It earns transaction fees and commissions from assets sold through its auctions and digital marketplaces, plus revenue from related services such as financing, appraisal, logistics, refurbishing, parts and data.
How RB Global makes money
It earns transaction fees and commissions from assets sold through its auctions and digital marketplaces, plus revenue from related services such as financing, appraisal, logistics, refurbishing, parts and data. It also buys and resells equipment and cars itself as a digital dealer.
What RB Global does
RB Global, formerly Ritchie Bros. Auctioneers, was founded in 1958 and is headquartered in Westchester, Illinois. It adopted its current name in May 2023. The company operates a global marketplace for commercial assets and vehicles, serving sectors including automotive, commercial transportation, construction, government surplus, lifting and material handling, energy, mining and agriculture. Alongside its core Ritchie Bros. auctions and the IAA digital vehicle marketplace, it runs data and technology businesses: Rouse for asset intelligence and performance benchmarking, SmartEquip for equipment lifecycle management, and VeriTread for heavy haul transport. It also provides financing, loan payoff, appraisal, inspection, listing, refurbishing, logistics, parts, catastrophe response and title services, and acts as a digital dealer of heavy equipment and cars.
Products & services
- Ritchie Bros. auctions
- IAA vehicle marketplace
- Rouse asset intelligence and benchmarking
- SmartEquip equipment lifecycle platform
- VeriTread heavy haul transport marketplace
- Appraisal, inspection, logistics and title services
What is RB Global worth?
On an owner-earnings DCF, RB Global's most-likely value is about $55 versus a recent price near $86 (36% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$26) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 5.8× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
RBC Bearings (RBC) · CBRE (CBRE) · Ryder System (R) · United Rentals (URI) · The Greenbrier Companies (GBX)