RB Global Inc. (RBA)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	549,445	506,299	490,399	462,229	285,454	227,188	198,509	154,152	405,989	388,414	376,207	383,010	205,231	229,526	245,039	243,968	235,887	234,567	205,672	194,429
Revenue (ttm)	US$ in thousands	4,279,210	4,207,280	4,245,280	4,255,910	3,708,370	3,082,561	2,474,240	1,852,286	1,733,807	1,649,319	1,567,522	1,479,337	1,416,971	1,441,011	1,442,871	1,435,560	1,377,260	1,326,041	1,284,295	1,288,467
Pretax margin		12.84%	12.03%	11.55%	10.86%	7.70%	7.37%	8.02%	8.32%	23.42%	23.55%	24.00%	25.89%	14.48%	15.93%	16.98%	16.99%	17.13%	17.69%	16.01%	15.09%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $549,445K ÷ $4,279,210K
= 12.84%

RB Global Inc.'s pretax margin has shown fluctuating trends over the past few years. The pretax margin, which indicates the company's efficiency in generating profits before accounting for taxes, was relatively stable at around 15-17% from March 2020 to September 2021. However, there was a notable increase in the pretax margin reaching 25.89% in March 2022, suggesting improved profitability during that period.

Subsequently, the pretax margin declined gradually from June 2022 to December 2024, hovering between 8-13%. The decrease in pretax margin during this period may indicate various factors affecting the company's profitability, such as changes in revenue, expenses, or operational efficiency.

Overall, RB Global Inc.'s pretax margin has experienced both peaks and troughs, showcasing the company's ability to manage its income generation before taxes. It will be important for stakeholders to further investigate the reasons behind the fluctuations in the pretax margin to assess the company's financial performance and sustainability.