RB Global Inc. (RBA)

Debt-to-capital ratio

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
Long-term debt US$ in thousands 2,921,800 3,061,600 3,081,000 3,104,800 3,124,700 577,100 633,048 639,755 1,578,420 1,733,940 632,520 625,832 626,202 626,288 622,635 614,375 613,536 627,204 671,301 686,694
Total stockholders’ equity US$ in thousands 5,066,300 5,016,700 4,911,800 4,919,800 4,861,500 1,289,600 1,238,800 1,243,680 1,224,980 1,070,680 1,061,940 1,056,330 1,005,520 1,007,240 959,484 899,054 839,805 901,833 838,164 830,684
Debt-to-capital ratio 0.37 0.38 0.39 0.39 0.39 0.31 0.34 0.34 0.56 0.62 0.37 0.37 0.38 0.38 0.39 0.41 0.42 0.41 0.44 0.45

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,921,800K ÷ ($2,921,800K + $5,066,300K)
= 0.37

The debt-to-capital ratio of RB Global Inc. has fluctuated over the past several quarters, ranging from 0.31 to 0.62. A decreasing trend was observed from December 2022 to March 2023, with a subsequent increase up to December 2023. From December 2023 to March 2024, the ratio decreased slightly to 0.37.

Overall, the debt-to-capital ratio indicates that RB Global Inc. has been utilizing a moderate level of debt relative to its total capital structure. A ratio below 0.5 typically suggests a reasonable balance between debt and equity financing. However, the company should continue to monitor and manage its debt levels to ensure financial stability and optimal capital structure.