RB Global Inc. (RBA)

Debt-to-equity 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-equity ratio		0.58	0.61	0.63	0.63	0.64	0.45	0.51	0.51	1.29	1.62	0.60	0.59	0.62	0.62	0.65	0.68	0.73	0.70	0.80	0.83

March 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,921,800K ÷ $5,066,300K
= 0.58

RB Global Inc.'s debt-to-equity ratio has fluctuated over the past few years. The ratio was relatively stable around 0.60 to 0.70 during 2019 and 2020. However, there was a significant increase in the debt-to-equity ratio at the start of 2022, reaching as high as 1.62 in December 2021. This rise may indicate increased reliance on debt to finance operations or investment activities during that period.

Subsequently, there was a notable decline in the debt-to-equity ratio throughout 2022, indicating a reduction in debt relative to equity. The ratio stayed relatively low until the end of 2022. However, in March 2023, there was a slight uptick in the ratio, which continued to fluctuate around 0.60 to 0.70 in the following quarters.

Overall, RB Global Inc.'s debt-to-equity ratio has shown variability, with periods of both higher and lower leverage. It is essential for stakeholders to monitor this ratio closely to assess the company's financial risk and capital structure management.