RB Global Inc. (RBA)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	471,300	453,500	240,147	263,160	223,202
Total assets	US$ in thousands	12,037,400	2,863,700	3,592,910	2,351,530	2,229,430
Operating ROA		3.92%	15.84%	6.68%	11.19%	10.01%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $471,300K ÷ $12,037,400K
= 3.92%

RB Global Inc.'s operating return on assets (operating ROA) has fluctuated over the past five years. The operating ROA was at its highest in 2022 at 15.84%, indicating that the company generated $0.1584 in operating income for every $1 of assets. This substantial increase from the previous year suggests improved operational efficiency and profitability.

In 2023, the operating ROA decreased significantly to 3.92%, signaling a decline in the company's ability to generate operating income from its assets compared to the prior year. This decline may raise concerns about the company's operational performance and asset utilization efficiency.

The operating ROA in 2021 and 2020 was 6.68% and 11.19% respectively, reflecting fluctuations in the company's profitability and asset management during those years. The 2019 operating ROA of 10.01% indicates that the company was able to generate a reasonable return on its assets that year.

Overall, the fluctuating trend in RB Global Inc.'s operating ROA suggests variability in the company's operational efficiency and asset utilization over the past five years. Further analysis of the company's operations and financial performance is recommended to identify the factors driving these changes in operating ROA.