RB Global Inc. (RBA)

Pretax margin

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	460,100	282,800	227,487	198,587	154,087	405,787	388,373	376,166	382,980	205,287	229,460	244,891	243,776	235,626	234,376	205,578	194,316	190,662	173,667	169,570
Revenue (ttm)	US$ in thousands	4,231,900	3,679,600	3,082,608	2,474,308	1,852,308	1,733,808	1,649,273	1,567,455	1,479,316	1,416,971	1,441,011	1,442,871	1,435,560	1,377,260	1,326,041	1,284,295	1,288,467	1,318,641	1,342,419	1,297,969
Pretax margin		10.87%	7.69%	7.38%	8.03%	8.32%	23.40%	23.55%	24.00%	25.89%	14.49%	15.92%	16.97%	16.98%	17.11%	17.67%	16.01%	15.08%	14.46%	12.94%	13.06%

March 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $460,100K ÷ $4,231,900K
= 10.87%

RB Global Inc.'s pretax margin has shown fluctuations over the past few quarters. The pretax margin was relatively high at 23.40% and 23.55% in the last two quarters of 2023 but dropped significantly to 10.87% in the first quarter of 2024. This decrease may indicate a decline in profitability or an increase in expenses relative to revenue during this period.

Overall, RB Global Inc.'s pretax margin has demonstrated variability, ranging from as low as 7.38% to as high as 25.89% over the past few quarters. This variability suggests that the company's profitability before taxes has been subject to fluctuations, potentially due to changes in revenue, expenses, or both. It would be important for stakeholders to closely monitor future financial performance to assess the sustainability and trends in the company's pretax margin.