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Custom Truck One Source, Inc.

CTOS NYSE Services-Equipment Rental & Leasing, Nec Financials FY2017–FY2025

Last close · Oct 23, 2026

$9.06

2.1%
Compare
Revenue Total sales reported in the income statement.
$1.9B
7.9% vs prior year
Operating margin Operating income as a share of revenue.
6.4%
0.6 pts
Net income Profit after all expenses, interest and tax.
−$31.1M
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
4.0%
0.2 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
90.6x
On $0.10 EPS (TTM)

What Custom Truck One Source, Inc. does

No business description yet.

Legal name
Custom Truck One Source, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Mar 10, 2026
Accession · CIK
0001709682-26-000008
0001709682

Revenue and margins

Custom Truck One Source, Inc. had $1.9B of revenue in fiscal 2025, up 7.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Custom Truck One Source, Inc. returned $32.6M to shareholders in fiscal 2025. The diluted share count fell 4.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Custom Truck One Source, Inc. can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $35.9M$14.4M$10.3M$3.8M$6.3M
Debt incl. finance leases $1.3B$1.4B$1.5B$1.5B$1.6B
Net debt / EBITDA 7.7x4.1x3.8x4.2x4.2x
Debt / equity 1.5x1.5x1.6x1.8x2.0x
Interest coverage −8.1x8.2x4.7x——
Current ratio 1.5x1.4x1.4x1.3x1.3x
Quick ratio 0.6x0.4x0.3x0.3x0.3x
Total assets $2.7B$2.9B$3.4B$3.5B$3.4B
Total liabilities $1.8B$2.0B$2.5B$2.6B$2.6B
Shareholders' equity $859M$888M$917M$861M$809M
Net debt (− = net cash) $1.3B$1.4B$1.5B$1.5B$1.6B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive ✕ ✕ ✕ ✕ ✕ ✓ ✓ ✕ ✕
Cash from operations is positive ✓ ✓ ✓ ✓ ✓ ✓ ✕ ✓ ✓
Return on assets rose — ✓ ✕ ✓ ✕ ✓ ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✓ ✓ ✕ ✓ ✓
Debt fell relative to assets — — ✓ ✕ ✓ ✓ ✓ ✓ ✕
Current ratio rose — ✕ ✓ ✕ ✓ ✕ ✓ ✕ ✓
Share count didn't rise — ✓ ✕ ✕ ✕ ✕ ✓ ✓ ✓
Gross margin rose — ✓ ✕ ✕ ✕ ✓ ✕ ✕ ✕
Revenue rose relative to assets — ✕ ✕ ✓ ✓ ✓ ✓ ✕ ✓
F-score — / 35 / 84 / 94 / 95 / 97 / 96 / 94 / 95 / 9
Accruals ratio −11.0%−10.3%−6.1%−8.1%−18.6%−0.3%2.6%−4.4%−9.8%
Altman Z'' −10.21−13.16−1.19−1.590.130.540.910.600.53

9 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $204M $246M $264M $303M $1.2B $1.6B $1.9B $1.8B $1.9B
Provision for credit losses $2.8M $4.3M $3.3M $3.8M — — — — —
Gross profit $57.7M $81.6M $86.5M $76.4M $210M $384M $454M $390M $412M
Operating income $23.5M $43.2M $36.0M $17.2M −$42.0M $103M $171M $126M $125M
Interest expense — — — — $5.2M $12.6M $36.6M — —
Pretax income −$30.6M −$13.8M −$33.0M −$51.4M −$177M $46.7M $58.1M −$29.2M −$28.1M
Income tax −$3.5M $1.7M −$6.0M −$30.1M $4.4M $7.8M $7.4M −$0.5M $2.9M
Net income −$27.1M −$15.5M −$27.1M −$21.3M −$182M $38.9M $50.7M −$28.7M −$31.1M
Net income to common — $0.2M −$27.1M −$21.3M −$182M $38.9M $50.7M −$28.7M −$31.1M
Diluted EPS −$1.25 −$0.72 −$0.82 −$0.43 −$0.75 $0.16 $0.21 −$0.12 −$0.14
Diluted shares 0.02B 0.02B 0.03B 0.05B 0.24B 0.25B 0.25B 0.24B 0.23B
Cash flow
Cash from operations $17.2M $41.0M $18.8M $42.8M $139M $46.0M −$30.9M $122M $310M
Depreciation and amortization $2.9M $3.0M $76.8M $84.9M $209M $223M $219M $236M $264M
Stock-based compensation $1.1M $1.1M $1.0M $2.4M $17.3M $12.3M $13.3M $11.9M $8.5M
Acquisitions $0.5M $1.5M $48.4M $0.0M $1.3B $49.8M $0.0M $6.0M $0.0M
Share buybacks — — — $0.0M $0.0M $10.3M $38.8M $29.0M $32.6M
Dividends and buybacks — — — $0.0M $0.0M $10.3M $38.8M $29.0M $32.6M
Balance sheet
Cash and short-term investments $0.5M $2.1M $6.3M $3.4M $35.9M $14.4M $10.3M $3.8M $6.3M
Total debt — $759M $714M $717M $1.3B $1.4B $1.5B $1.5B $1.6B
Finance lease liabilities — — — $10.5M $9.1M $5.0M — — —
Current assets $0.6M $68.6M $116M $103M $657M $868M $1.3B $1.3B $1.2B
Current liabilities $0.2M $53.4M $77.8M $71.4M $441M $635M $897M $1.0B $873M
Inventory — $11.4M $33.0M $31.4M $411M $597M $986M $1.0B $931M
Property and equipment, net — $2.8M $6.6M $6.3M — — — — —
Goodwill — $229M $238M $238M $696M $704M $704M $705M $705M
Intangible assets — $70.7M $70.6M $67.6M $328M $304M $277M $252M $226M
Total assets $403M $692M $815M $768M $2.7B $2.9B $3.4B $3.5B $3.4B
Total liabilities $14.3M $14.2M $827M $799M $1.8B $2.0B $2.5B $2.6B $2.6B
Shareholders' equity −$144M −$159M −$12.1M −$31.1M $859M $888M $917M $861M $809M
Margins
Gross margin 28.3% 33.1% 32.8% 25.3% 18.0% 24.4% 24.4% 21.7% 21.2%
Operating margin 11.5% 17.5% 13.6% 5.7% −3.6% 6.6% 9.2% 7.0% 6.4%
EBITDA margin 12.9% 18.8% 42.7% 33.7% 14.3% 20.8% 20.9% 20.1% 20.0%
Net margin −13.3% −6.3% −10.2% −7.0% −15.6% 2.5% 2.7% −1.6% −1.6%
Returns
Return on capital — 5.7% 4.1% 2.0% −1.6% 3.8% 6.2% 4.2% 4.0%
Return on capital employed 5.8% 6.8% 4.9% 2.5% −1.9% 4.5% 6.9% 5.1% 4.9%
Return on equity — — — — −43.9% 4.5% 5.6% −3.2% −3.7%
Return on assets −6.7% −2.8% −3.6% −2.7% −10.5% 1.4% 1.6% −0.8% −0.9%
Growth
Revenue growth — 20.9% 7.2% 14.7% 285.5% 34.8% 18.6% −3.4% 7.9%
Net income growth — — — — — — 30.3% −156.5% —
EPS growth — — — — — — 31.3% −157.1% —
Share count change — 0.0% 52.7% 48.4% 391.9% 2.6% −0.8% −3.6% −4.2%
Financial health
Net debt / EBITDA — 16.4x 6.3x 7.1x 7.7x 4.1x 3.8x 4.2x 4.2x
Debt / equity — — — — 1.5x 1.5x 1.6x 1.8x 2.0x
Interest coverage — — — — −8.1x 8.2x 4.7x — —
Current ratio 3.4x 1.3x 1.5x 1.4x 1.5x 1.4x 1.4x 1.3x 1.3x
Quick ratio 3.4x 1.1x 1.1x 1.0x 0.6x 0.4x 0.3x 0.3x 0.3x
Capital allocation
Stock comp / revenue 0.5% 0.5% 0.4% 0.8% 1.5% 0.8% 0.7% 0.7% 0.4%
Quality scores
Piotroski F-score — 5.0 4.0 4.0 5.0 7.0 6.0 4.0 5.0
Altman Z'' −10.2 −13.2 −1.2 −1.6 0.1 0.5 0.9 0.6 0.5
Accruals ratio −11.0% −10.3% −6.1% −8.1% −18.6% −0.3% 2.6% −4.4% −9.8%

Source: SEC EDGAR XBRL filings (CIK 0001709682). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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