RB Global, Inc
RB Global is a U.S.-listed, Canada-based marketplace operator that connects buyers and sellers of commercial assets and vehicles through auction sites, digital platforms, and related transaction services. Its business spans branded marketplaces and service platforms for automotive, construction, commercial transportation, government surplus, lifting and material handling, energy, mining, and agriculture assets.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueAuction and online marketplace services that connect sellers with buyers of assets and vehicles.
Fees and commissions tied to completing sales, including listing and sale-related services.
Value-added services such as inspection, appraisal, refurbishing, titling, and loan payoff.
Software and data platforms including SmartEquip, Rouse, and related lifecycle tools.
Inventory sales and other asset disposition channels used in the broader marketplace model.
Products
Reported · share of revenue- Buyer Revenue48.8 %
- Revenue From Inventory Sales23.7 %
- Seller Revenue20.2 %
- Marketplace Services Fees7.3 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
RB Global serves commercial asset owners, fleet operators, insurers, dealers, OEMs, and government-related sellers that need efficient disposition channels. On the buy side, it serves a broad global base of buyers seeking used equipment, salvage vehicles, parts, and other commercial assets across online and live auction formats. The model works because sellers want price discovery and reach, while buyers want access to inventory, logistics support, and transaction certainty.
Sell damaged and total-loss vehicles through IAA to maximize recovery value.
Use Ritchie Bros. and related channels to dispose of trucks, equipment, and surplus assets.
Buy salvage and non-salvage vehicles for resale, repair, export, or parts.
Sell construction, transportation, energy, mining, and agriculture equipment.
OEMs, dealers, and fleet managers use SmartEquip and related tools for lifecycle management.
Strategy
RB Global’s strategy centers on expanding transaction volumes by deepening buyer demand, improving seller outcomes, and widening the set of assets that can be monetized through its platforms. It also emphasizes omnichannel execution, data-driven services, and technology tools that make the marketplace easier to use across live, online, and mobile channels.
More buyers and sellers improve marketplace liquidity and pricing power.
A seamless experience across onsite, online, and mobile channels supports retention and repeat use.
Software and intelligence tools increase customer stickiness and extend the platform beyond auctions.
Acquisitions can add scale, assets, and customer relationships if integrated successfully.
Geography
Q1/2026RB Global operates through a global network of auction sites and digital marketplaces, with customers in approximately 170 countries. The company’s principal place of business is in Canada, while its securities trade in the United States and Canada, and its operations span North America and other international markets. Geography matters because buyer depth, seller supply, and logistics capabilities determine transaction liquidity and price realization.
Share of the revenue the company reports by geography.
Risks
RB Global depends on steady supply from insurers, fleet owners, and other sellers, so disruptions in supplier relationships or lower asset volumes can directly reduce transaction activity. The business also faces intense competition from online marketplaces, auctioneers, brokers, and direct seller channels, while cybersecurity, regulatory compliance, and logistics execution can affect trust and operating continuity.
- Supplier concentration and supply disruptionImpact: HighLikelihood: Medium
The marketplace model requires a steady flow of damaged vehicles and commercial assets from key sellers.
Exposure - Competitive pressure from alternative disposition channelsImpact: HighLikelihood: Medium
Sellers can use online marketplaces, brokers, OEM channels, or direct sales instead of RB Global platforms.
Exposure: Automotive and commercial asset remarketing
- Cybersecurity and IT control failuresImpact: HighLikelihood: Medium
The business relies on digital marketplaces, customer data, and integrated operating systems.
Exposure: Marketplace operations and internal controls
- Logistics and service execution riskImpact: MediumLikelihood: High
Transportation, inspection, titling, and other services are part of the transaction experience.
Exposure: Third-party carriers and service partners
- Macro and policy sensitivityImpact: MediumLikelihood: High
Inflation, interest rates, and tariffs can influence asset turnover, buyer demand, and seller timing.
Exposure: Commercial construction and transportation markets
Accounting
Judgemental itemsDifferent revenue streams have different economics and can shift reported margins and growth rates.
Impact: Quarterly comparability and operating leverage
The company tests goodwill across Ritchie Bros., IAA, and Services reporting units using valuation assumptions.
Impact: Potential non-cash impairment charges
Valuation of reporting units and acquired assets depends on growth, discount rate, and market comparables.
Impact: Goodwill and acquisition-related balance sheet values
Acquisitions can create one-time costs and purchase accounting adjustments that affect earnings.
Impact: Operating expenses and intangible asset amortization
Leverage and refinancing capacity influence liquidity and capital structure analysis.
Impact: Interest expense and balance sheet risk
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Last updated: 24/09/2026