RB Global Inc. (RBA)

Solvency ratios

	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
Debt-to-assets ratio	0.24	0.25	0.26	0.26	0.26	0.20	0.22	0.22	0.41	0.48	0.25	0.24	0.24	0.27	0.25	0.25	0.28	0.28	0.28	0.29
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
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
Financial leverage ratio	2.38	2.40	2.45	2.42	2.44	2.22	2.28	2.33	3.16	3.36	2.43	2.47	2.61	2.33	2.65	2.76	2.65	2.47	2.81	2.86

RB Global Inc. has shown varying solvency ratios over the past few quarters. The debt-to-assets ratio has fluctuated between 0.20 and 0.48, indicating the company's ability to meet its financial obligations with its assets. The decreasing trend in the debt-to-assets ratio from the last quarter of 2021 to the first quarter of 2022 suggests an improvement in the company's ability to cover its debt with assets.

Similarly, the debt-to-capital ratio and debt-to-equity ratio have also shown fluctuations, with values ranging from 0.31 to 0.62 and 0.45 to 1.62, respectively. These ratios indicate the extent to which the company relies on debt to finance its operations. The increasing trend in these ratios from the last quarter of 2021 to the first quarter of 2022 suggests a higher proportion of debt in the company's capital structure.

The financial leverage ratio, which measures the company's debt relative to its equity, has also fluctuated between 2.22 and 3.36. An increase in this ratio indicates higher financial risk and leverage. RB Global Inc. experienced a significant increase in its financial leverage ratio from the last quarter of 2021 to the first quarter of 2022, which may raise concerns about the company's ability to service its debt obligations.

Overall, RB Global Inc.'s solvency ratios have shown volatility, with some improvement in the debt coverage with assets but also increasing reliance on debt financing. Investors and stakeholders may need to closely monitor the company's solvency position and assess the potential risks associated with its changing capital structure.

Coverage ratios

	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
Interest coverage	2.79	2.32	2.43	2.90	3.65	8.00	7.61	7.44	8.86	6.55	7.48	7.93	7.90	7.62	7.33	6.35	5.90	5.62	5.05	4.92

RB Global Inc.'s interest coverage ratio has shown some fluctuations over the past few quarters. The interest coverage ratio, which measures the company's ability to meet its interest obligations with its operating profits, ranged from a low of 2.32 in December 2023 to a high of 8.00 in December 2022.

Overall, the company's interest coverage has generally been above 2.0, indicating that it has generated sufficient operating income to cover its interest expenses. However, it is important to note that the interest coverage ratio has decreased in the most recent quarters compared to the higher levels seen in 2022. This may indicate a potential decrease in the company's ability to meet its interest obligations from its operating profits.

It would be advisable for stakeholders to closely monitor RB Global Inc.'s interest coverage ratio in the upcoming quarters to assess if the trend continues or if there are any underlying issues affecting the company's financial health.