Search markets, companies, evidence, and pages
CIK 1046102 · Environmental Services Adjacency
RB Global, Inc is a public company in Specialty Business Services, tracked in the adjacency and edge-case industrials sub-sector, with $4.7B TTM revenue and $1.3B TTM EBITDA.
Market data as of May 10, 2026
Financials: LTM / latest available company filings
Sources: FMP, RBA filings, SEC EDGAR
$19,241
Market cap ($MM)
$22,636
Enterprise value ($MM)
$4,735
Revenue · LTM ($MM)
$1,326
EBITDA · LTM ($MM)
28%
EBITDA margin
4.8x
EV / revenue
17.1x
EV / EBITDA
1.5x
Net debt / EBITDA
Coverage
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
Balance sheet & capacity
Indicative capacity read: 1.5x net debt / EBITDA with EBITDA of $1.3B.
$667
Cash & equiv. ($MM)
$2,604
Total debt ($MM)
$1,937
Net debt ($MM)
1.5x
Net debt / EBITDA
Valuation
RBA versus the scaled public Environmental Services Adjacency comparables.
EV / EBITDA distribution · peer set
RBA 17.1x
Indexed share-price performance
RBA versus available Environmental Services Adjacency peers and SPY.
+76%
RBA
+38%
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| RB Global, Inc | RBA | $4,735 | $1,326 | 28% | $19,241 | $22,636 | 4.8x | 17.1x | 1.5x |
| Kirby Corporation | KEX | $3,422 | $782 | 23% | $7,627 | $7,777 | 2.3x | 9.9x | 1.2x |
| Donaldson Company, Inc. | DCI | $3,753 | $626 | 17% | $9,960 | $10,446 | 2.8x | 16.7x | 0.8x |
| The Gorman-Rupp Company | GRC | $695 | $126 | 18% | $2,041 | $2,304 | 3.3x | 18.3x | 2.1x |
| Chemed Corporation | CHE | $2,541 | $413 | 16% | $5,632 | $5,852 | 2.3x | 14.2x | 0.2x |
| Algonquin Power & Utilities Corp. | AQN | $2,521 | $946 | 38% | $4,689 | $11,324 | 4.5x | 12.2x | 8.2x |
| Consolidated Edison Inc. | ED | $17,215 | $6,975 | 41% | $39,178 | $66,208 | 3.8x | 9.5x | 0.1x |
| Sotera Health Co | SHC | $1,189 | $459 | 39% | $4,500 | $6,454 | 5.4x | 14.1x | 4.0x |
| Environmental Services Adjacency median | $2,982 | $704 | 25% | $6,629 | $9,112 | 3.6x | 14.1x | 1.3x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
RBA's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
17
Active years
8
Named deals
8
Avg / active year
2.1
Acq. cash outflow ($MM)
N/A
Banker read
Annual acquisitions + disclosed spend
RBA count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
2 / 3
Last three years is down 33% vs prior three.
Peak count year
FY15
1 disclosed acquisitions in the peak visible year.
Recent spend
$3.0B
is up 172% vs prior three; peak FY23 at $2.8B.
Named evidence
8 rows
47% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Mar 20, 2023 | IAA, Inc. | Adjacency and edge-case industrials | $6,600 | On March 20, 2023, the Company completed its acquisition of IAA, Inc. ("IAA") for a total purchase price of approximately $6.6 billion. The Company acquired IAA to create a lead... | 10-K† |
| Mar 20, 2023 | IAA | Adjacency and edge-case industrials | $6,600 | On March 20, 2023, the Company completed its acquisition of IAA for a total purchase price of approximately $6.6 billion. The Company acquired IAA to create a leading omnichanne... | 10-K† |
| May 31, 2017 | IronPlanet Holdings, Inc. | Adjacency and edge-case industrials | $777 | On May 31, 2017, we acquired IronPlanet Holdings, Inc. (“IronPlanet”), a leading online marketplace for heavy equipment and other durable assets for $776.5 million (the “Acquisi... | 10-K† |
| May 31, 2017 | IronPlanet | Adjacency and edge-case industrials | $776 | On May 31, 2017 (the “IronPlanet Acquisition Date”), the Company acquired 100% of the issued and outstanding shares of IronPlanet for a total fair value consideration of $776,47... | 10-K† |
| Nov 2, 2021 | SmartEquip | Adjacency and edge-case industrials | $174 | On November 2, 2021, the Company acquired all of the issued and outstanding common shares of SmartEquip for a total cash purchase price of $173,743,000. SmartEquip is an innovat... | 10-K† |
| Jan 3, 2023 | VeriTread, LLC | Adjacency and edge-case industrials | $28 | On January 3, 2023, the Company acquired 8,889,766 units of VeriTread, LLC (“VeriTread”), a Florida limited liability company, for approximately $25.0 million from its existing... | 10-K† |
| Nov 4, 2015 | Xcira LLC | Adjacency and edge-case industrials | $12 | On November 4, 2015 (the “Xcira Acquisition Date”), the Company acquired 75% of the issued and outstanding shares of Xcira LLC (“Xcira”) for cash consideration of $12,359,000. T... | 10-K† |
| Oct 31, 2024 | Boom and Bucket Inc. | Adjacency and edge-case industrials | $10 | On October 31, 2024, the Company completed its acquisition of Boom and Bucket Inc. ("Boom and Bucket") for a total purchase price of approximately $10 million. Boom and Bucket i... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 14 SEC-backed facts across 7 cited filings.
Evidence
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
10
Named deal filings
6
Recent SEC filings
10
Evidence clips
6
| Fiscal year | Filing date | Form | Status | Count | Cash spend | Purchase consideration | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | Feb 25, 2026 | Annual M&A 10-K | warning (1 warn) | N/A | $193MM | N/A | SEC filing |
| FY2024 | Feb 26, 2025 | Annual M&A 10-K | accepted | 1 | N/A | $10.0MM | SEC filing |
| FY2023 | Feb 28, 2024 | Annual M&A 10-K | accepted | 1 | $2.8B | $6.6B | SEC filing |
| FY2022 | Feb 21, 2023 | Annual M&A 10-K | warning (1 warn) | N/A | $0.1MM | N/A | SEC filing |
| FY2021 | Feb 17, 2022 | Annual M&A 10-K | accepted | 1 | $171MM | $174MM | SEC filing |
| FY2020 | Feb 18, 2021 | Annual M&A 10-K | accepted | 1 | $250MM | $252MM | SEC filing |
| FY2018 | Feb 28, 2019 | Annual M&A 10-K | quarantined (1 warn, 1 issue) | 0 | N/A | N/A | SEC filing |
| FY2017 | Feb 26, 2018 | Annual M&A 10-K | warning (1 warn) | 1 | $676MM | $776MM | SEC filing |
| FY2016 | Feb 21, 2017 | Annual M&A 10-K | accepted | 1 | $29.6MM | $33.6MM | SEC filing |
| FY2015 | Feb 25, 2016 | Annual M&A 10-K | accepted | 1 | $12.4MM | $12.4MM | SEC filing |
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Feb 26, 2025 | 10-K | IAA, Inc.; Boom and Bucket Inc. | Annual M&ANamed deals | SEC filing |
| Feb 28, 2024 | 10-K | IAA | Annual M&ANamed deals | SEC filing |
| Feb 21, 2023 | 10-K | VeriTread, LLC | Annual M&ANamed deals | SEC filing |
| Feb 17, 2022 | 10-K | SmartEquip | Annual M&ANamed deals | SEC filing |
| Feb 28, 2019 | 10-K | IronPlanet Holdings, Inc.; IronPlanet | Annual M&ANamed deals | SEC filing |
| Feb 25, 2016 | 10-K | Xcira LLC | Annual M&ANamed deals | SEC filing |
| Filing date | Form | Items | Description | Support | Source |
|---|---|---|---|---|---|
| May 4, 2026 | 8-K | 2.02,8.01,9.01 | 8-K | FinancialsRecent SEC | SEC filing |
| May 4, 2026 | 10-Q | N/A | 10-Q | Recent SEC | SEC filing |
| May 1, 2026 | 8-K | 5.07 | FORM 8-K | Recent SEC | SEC filing |
| May 1, 2026 | 10-Q | N/A | Quarterly report from SEC company index | Recent SEC | SEC filing |
| Apr 23, 2026 | 8-K | 8.01,9.01 | FORM 8-K | Recent SEC | SEC filing |
| Mar 19, 2026 | DEFA14A | N/A | DEFA 14A | Recent SEC | SEC filing |
| Mar 19, 2026 | DEF 14A | N/A | DEF 14A | Recent SEC | SEC filing |
| Mar 16, 2026 | 8-K | 5.02 | FORM 8-K | Recent SEC | SEC filing |
| Mar 16, 2026 | 8-K | 8.01,9.01 | FORM 8-K | Recent SEC | SEC filing |
| Mar 9, 2026 | 8-K | 8.01,9.01 | FORM 8-K | Recent SEC | SEC filing |
IAA Acquisition
10-K - Feb 26, 2025
On March 20, 2023, the Company completed its acquisition of IAA, Inc. ("IAA") for a total purchase price of approximately $6.6 billion. The Company acquired IAA to create a leading omnichannel marketplace for vehicle bu…
IAA Acquisition
10-K - Feb 28, 2024
On March 20, 2023, the Company completed its acquisition of IAA for a total purchase price of approximately $6.6 billion. The Company acquired IAA to create a leading omnichannel marketplace for vehicle buyers and selle…
IronPlanet Acquisition
10-K - Feb 28, 2019
On May 31, 2017, we acquired IronPlanet Holdings, Inc. (“IronPlanet”), a leading online marketplace for heavy equipment and other durable assets for $776.5 million (the “Acquisition”).
IronPlanet acquisition
10-K - Feb 28, 2019
On May 31, 2017 (the “IronPlanet Acquisition Date”), the Company acquired 100% of the issued and outstanding shares of IronPlanet for a total fair value consideration of $776,474,000. As at the acquisition date, cash co…
SmartEquip acquisition
10-K - Feb 17, 2022
On November 2, 2021, the Company acquired all of the issued and outstanding common shares of SmartEquip for a total cash purchase price of $173,743,000. SmartEquip is an innovative technology platform that supports cust…
VeriTread Acquisition
10-K - Feb 21, 2023
On January 3, 2023, the Company acquired 8,889,766 units of VeriTread, LLC (“VeriTread”), a Florida limited liability company, for approximately $25.0 million from its existing unitholders and acqu...
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.