Custom Truck One Source, Inc. CTOS R2K

Industrials · Rental & Leasing Services · United States

https://www.customtruck.com

Custom Truck One Source, Inc. provides specialty equipment rental and sale services to electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. It operates through two segments: Specialty Equipment Rentals (SER); and Specialty Truck Equipment and Manufacturing (STEM). The company owns new and used specialty equipment, including truck-mounted aerial lifts, cranes, service trucks, dump trucks, trailers, digger derricks, and other machinery and equipment. It offers new equipment for sale to be used for end-markets, which can be modified to meet customers specific needs. In addition, the company provides truck and equipment maintenance and repair services; and rents and sells specialized tools, including stringing blocks, insulated hot stick, and rigging equipment, as well as sale of specialized aftermarket parts. The company was formerly known as Nesco Holdings, Inc. and changed its name to Custom Truck One Source, Inc. in April 2021. The company was founded in 1988 and is headquartered in Kansas City, Missouri.

Market & Price

Market Cap

$2.18B

Current Price

$9.58

High / Low (52W)

$10.10 / $4.24

Beta

1.41

Valuation

Stock P/E

Industry PE

28.38

Forward P/E

34.63

PEG Ratio

Book Value

$3.55

Price to Book

2.70

P/S

1.10

EV/EBITDA

22.28

Dividend Yield

Profitability & Returns

ROCE

5.04%

ROE

-2.15%

ROA

2.84%

Profit Margin

-0.88%

Op Margin

7.66%

EPS (Latest Qtr)

$-0.02

EPS (TTM)

$-0.08

Balance Sheet & Liquidity

Debt/Equity

3.09

Quick Ratio

0.23

Current Ratio

1.30

Debt

$2.49B

Total Assets

$3.44B

Current Assets

$1.16B

Working Capital

$285.29M

Ownership

Promoter Holding

4.70%

Chg in Prom Hold

FII / Inst Holding

96.97%

Chg in FII Hold

0.01%

Financial Snapshot

Enterprise Value

$4.66B

Total Revenue (TTM)

$1.98B

EBITDA

$209.09M

Free Cash Flow

$109.08M

Operating Cash Flow

$278.29M

Shares Outstanding

227.43M

Gross Margin

21.65%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

7.31%

Profit 5Y

-59.94%

Revenue (YoY)

9.30%

Earnings (YoY)

PROS

Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Earnings shrank at -59.9% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	CTOS Custom Truck One Source, Inc. R2K	9.58	-	$2.18B	-	5.04%	-2.15%	7.31%	-59.94%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Sep 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	20.14M	-	17.85M	17.12M	14.62M	-	32.83M	23.43M	24.79M	32.11M	270.79M	243.29M	246.88M	245.02M	242.30M	316.74M	315.67M	305.00M	303.54M	320.63M	-	422.23M	511.48M	482.06M	528.18M	461.62M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	336.70M	408.94M	381.31M	405.12M	358.56M
Gross Profit	-	20.12M	19.25M	20.21M	22.04M	20.35M	20.64M	21.26M	24.29M	21.40M	16.34M	15.63M	20.22M	46.69M	65.25M	84.49M	82.76M	88.17M	109.66M	110.62M	107.16M	90.71M	89.27M	-	85.54M	102.54M	100.75M	123.06M	103.06M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	69.47M	69.31M	64.88M	66.65M	67.70M
Operating Income	-167.02K	10.93M	9.20M	10.94M	12.10M	8.69M	9.82M	5.59M	11.92M	6.80M	2.52M	4.96M	-3.05M	-43.43M	-5.32M	9.81M	18.75M	23.11M	39.89M	39.58M	38.01M	18.37M	17.67M	-	16.07M	33.23M	35.88M	56.41M	35.36M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75.56M	95.33M	100.34M	122.13M	99.44M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38.91M	40.20M	40.25M	38.26M	35.04M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-25.49M	-10.90M	-6.74M	15.01M	-3.81M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7.70M	17.48M	-988.00K	-5.87M	297.00K
Net Income	-167.02K	-3.03M	-5.41M	-3.68M	-3.41M	-6.72M	-5.42M	-18.01M	3.10M	-15.97M	-13.15M	15.17M	-27.91M	-129.36M	-20.52M	-3.27M	13.62M	-2.38M	13.80M	11.61M	9.18M	-14.34M	-24.48M	-	-17.79M	-28.38M	-5.76M	20.88M	-4.10M
Diluted EPS	-	-	-	-	-	-	-	-0.45	-	-0.33	-0.27	0.31	-0.57	-0.53	-0.08	-0.01	0.05	-0.01	0.06	0.05	0.04	-0.06	-0.10	-	-0.08	-0.13	-0.03	0.09	-0.02

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	49.98M	69.27M	74.87M	115.22M	-	1.57B	1.87B	1.80B	1.94B
Cost of Revenue	-	-	-	-	-	1.19B	1.41B	1.41B	1.53B
Gross Profit	57.74M	81.62M	86.55M	76.44M	-	383.75M	454.26M	390.27M	411.89M
Operating Expenses	-	-	-	-	-	254.22M	269.17M	269.49M	270.31M
Operating Income	23.49M	43.16M	36.02M	17.25M	-	129.53M	185.09M	120.78M	141.58M
EBITDA	-	-	-	-	-	359.12M	408.38M	373.76M	393.37M
Interest Expense	-	-	-	-	-	88.91M	131.31M	167.10M	157.62M
Pretax Income	-	-	-	-	-	46.73M	58.08M	-29.19M	-28.13M
Tax Provision	-	-	-	-	-	7.83M	7.36M	-532.00K	2.92M
Net Income	-27.09M	-15.53M	-27.05M	-21.28M	-	38.91M	50.71M	-28.66M	-31.05M
Diluted EPS	-	-	-0.82	-0.43	-	0.16	0.21	-0.12	-0.14

Compounded Sales Growth

5 Years:	7.31%
1 Year:	9.30%

Compounded Profit Growth

5 Years:	-59.94%
1 Year:	-

Stock Price Performance

1 Year:	+122.79%
6 Months:	+55.27%
3 Months:	+33.80%
1 Month:	+4.93%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	403.11M	691.56M	815.28M	768.40M	-	2.94B	3.37B	3.50B	3.44B
Current Assets	-	-	-	-	-	-	868.25M	1.27B	1.30B	1.16B
Cash & Equivalents	-	501.93K	2.14M	6.30M	3.41M	-	14.36M	10.31M	3.81M	6.27M
Inventory	-	-	-	-	-	-	596.72M	985.79M	1.05B	930.94M
Receivables	-	-	-	-	-	-	193.11M	215.09M	215.87M	195.54M
Total Liabilities	-	14.26M	14.18M	-	-	-	2.05B	2.45B	2.64B	2.63B
Current Liabilities	-	176.47K	53.41M	77.76M	71.35M	-	634.88M	897.39M	1.00B	873.33M
Long Term Debt	-	-	756.87M	713.02M	715.86M	-	1.35B	1.49B	1.52B	1.62B
Total Debt	-	-	-	-	-	-	1.83B	2.20B	2.43B	2.42B
Total Equity	-117.97M	-143.96M	-158.76M	-12.13M	-31.07M	-	888.44M	917.20M	861.31M	809.10M
Shares Outstanding	-	-	-	-	-	-	248.31M	249.90M	251.91M	253.31M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	17.22M	41.04M	18.79M	42.83M	-	45.97M	-30.88M	121.98M	310.11M
Investing Cash Flow	-21.37M	-27.44M	-129.68M	-29.31M	-	-218.94M	-176.60M	-187.49M	-282.46M
Financing Cash Flow	3.78M	-12.42M	115.05M	-16.41M	-	153.90M	202.88M	58.28M	-25.27M
Capital Expenditure	-	-	-	-	-	-340.79M	-364.19M	-398.32M	-456.98M
Free Cash Flow	-	-	-	-	-	-294.82M	-395.07M	-276.33M	-146.87M
Net Change in Cash	-	-	-	-	-	-19.07M	-4.61M	-7.22M	2.38M
Share Buybacks	-	-	-	0	0	10.28M	38.84M	28.98M	32.58M

Ratios (Annual)

Figures in %.

Metric	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	115.5%	117.8%	115.6%	66.3%	-	24.4%	24.4%	21.7%	21.2%
Operating Margin %	47.0%	62.3%	48.1%	15.0%	-	8.2%	9.9%	6.7%	7.3%
Net Margin %	-54.2%	-22.4%	-36.1%	-18.5%	-	2.5%	2.7%	-1.6%	-1.6%
ROE %	18.8%	9.8%	223.0%	68.5%	-	4.4%	5.5%	-3.3%	-3.8%
ROCE %	5.8%	6.8%	4.9%	2.5%	-	5.6%	7.5%	4.8%	5.5%

Shareholding Pattern

Insiders

4.70%

Institutions

96.97%

Public Float

101.76%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Platinum Equity Advisors, LLC/DE	65.24%	156.74M	$1.50B
2	Canvas Wealth Advisors, Llc	2.92%	7.02M	$67.25M
3	Mirae Asset Global ETFs Holdings Ltd.	2.36%	5.67M	$54.37M
4	Dimensional Fund Advisors LP	2.33%	5.60M	$53.68M
5	Blackrock Inc.	1.77%	4.25M	$40.74M
6	Allspring Global Investments Holdings, LLC	1.63%	3.91M	$37.50M
7	Alyeska Investment Group, L.p.	1.18%	2.83M	$27.07M
8	Vanguard Capital Management LLC	1.05%	2.53M	$24.20M
9	Boston Partners	0.84%	2.02M	$19.32M
10	State Street Corporation	0.62%	1.49M	$14.24M

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