RB Global Inc. (RBA)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	3,061,600	577,100	1,733,940	626,288	627,204
Total assets	US$ in thousands	12,037,400	2,863,700	3,592,910	2,351,530	2,229,430
Debt-to-assets ratio		0.25	0.20	0.48	0.27	0.28

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $3,061,600K ÷ $12,037,400K
= 0.25

RB Global Inc.'s debt-to-assets ratio has shown fluctuations over the past five years. In 2023, the ratio increased to 0.25 from 0.20 in 2022. This indicates that RB Global Inc. financed 25% of its assets through debt in 2023. Compared to the high ratio of 0.48 in 2021, the current ratio suggests a more conservative approach to debt financing. However, it remains higher than the ratios in 2020 and 2019, indicating that the company has increased its reliance on debt to finance its assets in recent years. It is important for RB Global Inc. to monitor and manage its debt levels effectively to ensure sustainable financial health and optimal capital structure.