RB GLOBAL INC. (RBA) — payout ratio, three ways
Fiscal year ending 2025-12-31 · sector Industrials · payout ratios computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 67.7% | The figure most screeners publish. |
| Operating cash flow | 26.4% | Before capital spending, so it understates the payout that free cash flow shows. |
| Free cash flow | 35.9% | What is left after maintaining the business. |
Spread between highest and lowest: 41 percentage points. Same filings, different denominators.
Coverage rating 28 / 100 — Strained. ? Peer standing 18/50Direction 10/30Stability 0/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 35.9% |
| 2024-12-31 | 26.9% |
| 2023-12-31 | 94.3% |
| 2022-12-31 | 26.7% |
| 2021-12-31 | 33.7% |
| 2020-12-31 | 37.7% |
Coverage worsened sharply this year, 26.9% to 35.9%, after no clear trend before it. One year is not a trend, but it is worth knowing which direction the last one moved.
Among the 73 industrials companies here, 37% pay out a larger share on this basis.
The arithmetic
- GAAP earnings — dividends declared per share $1.38 ÷ diluted EPS $2.04
- Operating cash flow — dividends paid $258.1m ÷ operating cash flow $978.2m
- Free cash flow — dividends paid $258.1m ÷ (operating cash flow $978.2m − capex $259.0m)
Where the figures came from
- 10-K filed 2026-02-25 · accession
0001628280-26-011682
Every one is public at sec.gov and free to check. That is the point — you should not have to take my word for any of it.
Caveats on this company
- DPS derived from dividends paid ($1.38); no per-share tag filed
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell me — that is more useful to me than agreement.