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Custom Truck One Source, Inc.

CTOS Industrials Rental & Leasing Services

Custom Truck One Source, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 7.86% from fiscal 2024.

Revenue
+2.73%
EPS
+133.7%
Free cash flow
+540.0%
Total debt
+0.24%

Quarter to September 2026, against a year earlier

9.31 0.82 −8.09%
Market cap
$2.1B
P/E
71.6×
Fwd P/E
82.8×
Dividend yield
—
F-score
5/9
Altman Z
0.83
Beneish M
−3.00
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 73.61%

Capital & Financial Ratios $m

Size
Market Cap 2,110.00
Revenue ttm 2,048.48
Net income ttm 29.48
Free cash flow ttm 7.92
Net debt Q 1,639.23
Valuation
P/E 71.56 (above 35: high)
Forward P/E 82.80 (above 35: high)
Price / sales 1.03
Forward P/S Powerpack
Price / FCF 267.17
Price / book 2.58
Financial health
Current ratio Q 1.28
Debt / equity Q 2.01 (above 2: weak)
Interest coverage Q 1.03
Growth
Revenue growth Q +2.73% (above 0%: growing)
Operating income growth Q +16.70% (above 0%: growing)
EPS, this year +200.00% (at or above 15%: strong)
EPS, next year A +116.67% (at or above 15%: strong)
Revenue, next year A −73.18% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +19.30% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.8×, against a ten-year median of 1.9×; over the ten years it ranged from 0.4× in 2019 to 6.0× in 2021.
P/S against its own 10 years 66.04%
10-year low 10-year high
P/B against its own 10 years 67.81%
10-year low 10-year high
EV/Sales against its own 10 years 46.73%
10-year low 10-year high
EV/FCF against its own 10 years 93.31%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 10 4 6 15
Receivables 246 225 204 212
Inventory 986 1,049 931 1,016
Other — — — —
1,266 1,301 1,159 1,258
2023 2024 2025 Q'26
Payables 118 88 88 123
ST’ Debt 8 8 26 1
Other — — — —
897 1,001 873 981

Compound Annual Growth %

10y 5y 3y
Sales — 45.05% 7.31%
Cash Flow — 48.58% 88.95%
Earnings — 0.00% 0.00%
Book Value — 0.00% (3.07%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.01 Actual 0.01

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.09 0.09 Met by 0.00
Q1 FY26 −0.05 −0.02 Beat by 0.03
Q2 FY26 0.02 0.05 Beat by 0.03
Q3 FY26 0.01 0.01 Met by 0.00
Q4 FY26 0.09 — Reports 9 March 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.02) 0.05 0.01 — —
’25 (0.08) (0.13) (0.03) 0.09 (0.14)
’24 (0.06) (0.10) (0.07) 0.12 (0.12)
’23 0.06 0.05 0.04 0.07 0.21
’22 (0.01) 0.05 (0.01) 0.13 0.16
’21 (0.57) (0.53) (0.08) (0.02) (0.75)
’20 (0.33) (0.27) 0.31 (0.15) (0.43)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 462 563 495 — —
’25 422 511 482 528 1,944
’24 411 423 447 521 1,802
’23 452 457 434 522 1,865
’22 366 362 358 487 1,573
’21 78 375 357 356 1,167
’20 82 68 69 83 303
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 24 44 163 — —
’25 56 126 81 47 310
’24 (14) 38 17 82 122
’23 4 (5) (2) (28) (31)
’22 (30) 8 26 42 46
’21 (12) 69 56 26 139
’20 (3) 22 (5) 28 43
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (35) (3) 71 — —
’25 (16) 57 11 (25) 28
’24 (30) (39) (14) (29) (112)
’23 (27) (55) (34) (92) (207)
’22 (26) (27) (32) (39) (123)
’21 (8) 41 1 13 47
’20 (30) 14 2 28 14
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — 204 246 264 303 1,167 1,573 1,865 1,802 1,944 2,048 +32.6% 521 553 573 (33.4%)
Gross margin, % — 28.34 33.72 32.78 25.25 17.99 24.39 24.36 21.65 21.19 22.62 (7.1) pt
EBT — (31) (14) (33) (51) (177) 47 58 (29) (28) 22 (1.0%)
EBT margin, % — (15.01) (5.61) (12.51) (16.96) (15.17) 2.97 3.11 (1.62) (1.45) 1.05 +13.6 pt
Net income — (27) (16) (27) (21) (182) 39 51 (29) (31) 29 +1.7%
Per share, $
Per share, $ Revenue — 9.41 11.37 7.99 6.17 4.84 6.36 7.61 7.61 8.57 9.01 (1.2%)
Earnings — (1.25) (0.72) (0.82) (0.43) (0.75) 0.16 0.21 (0.12) (0.14) 0.13 (23.9%)
Cash flow — 0.79 1.89 0.57 0.87 0.58 0.19 (0.13) 0.51 1.37 1.23 +7.0%
Capex — (0.96) (1.20) (2.36) (0.60) (0.38) (0.68) (0.72) (0.99) (1.24) (1.19) +3.2%
Free cash flow — (0.17) 0.70 (1.80) 0.28 0.20 (0.50) (0.85) (0.47) 0.12 0.03 n/m
Book value — 0.23 (7.33) (0.37) (0.63) 3.56 3.59 3.74 3.63 3.56 3.61 +40.8%
Shares, m — 22 22 33 49 241 247 245 237 227 227 +34.1%
Valuation, ×
Valuation, × P/E — 0.00 0.00 0.00 0.00 0.00 39.50 28.45 0.00 0.00 71.56 7.6
P/S — 0.00 0.00 0.51 1.19 1.65 0.99 0.82 0.63 0.67 1.03 0.7
P/B — 19.55 0.00 0.00 0.00 2.25 1.76 1.67 1.32 1.62 2.58 3.1
EV/Sales — 0.00 0.00 3.28 3.57 2.75 1.85 1.62 1.48 1.52 1.83 1.8
EV/FCF — 0.00 24.42 (14.59) 79.95 68.21 (23.65) (14.55) (23.78) 106.56 474.14 22.5
Cash, $m
Cash, $m Operating cash flow — 17 41 19 43 139 46 (31) 122 310 279 +43.5%
Capex — (21) (26) (78) (29) (92) (169) (177) (234) (282) (271) +38.5%
Free cash flow — (4) 15 (59) 14 47 (123) (207) (112) 28 8 n/m
Balance, $m
Balance, $m Working capital — 0 15 38 32 216 233 369 301 285 277 +125.1%
Net debt — (1) 786 731 719 1,284 1,351 1,485 1,524 1,639 1,639 n/m
Shareholders’ equity — 5 (159) (12) (31) 859 888 917 861 809 822 +88.9%
Returns, %
Returns, % ROA — (4.95) (2.84) (3.59) (2.69) (10.52) 1.38 1.61 (0.83) (0.89) 0.83 +4.1 pt
ROIC — 326.36 4.30 3.13 1.57 (1.22) 2.88 4.45 3.31 3.19 4.27 (323.2) pt
ROE — 35.24 20.20 31.66 98.51 (43.87) 4.45 5.62 (3.22) (3.72) 3.67 (39.0) pt
People
People Employees — 3 3 400 380 1,800 2,270 2,580 261 2,500 — +131.8%
Revenue/emp, $m — 67.92 82.10 0.66 0.80 0.65 0.69 0.72 6.91 0.78 — (42.8%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Custom Truck One Source, Inc. vs peers in Rental & Leasing Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CAR Avis Budget Group, Inc. $4.3B — (loss-making) 83.1× −2.36% (below 0%: shrinking) −44.84% (below 0%: shrinking) −11.76% (below 0%: shrinking) 52.82% 19.79% Compare
EQPT EquipmentShare.com Inc. $3.5B 15.4× 39.0× +102.37% (above 0%: growing) n/m −17.02% (below 0%: shrinking) 28.36% 6.49% Compare
WSC WillScot Holdings Corporation $3.2B — (loss-making) 17.6× +6.09% (above 0%: growing) +16.67% (above 0%: growing) +61.99% (above 0%: growing) 63.18% 20.99% Compare
MGRC McGrath RentCorp $3.1B 19.6× 18.6× +7.08% (above 0%: growing) +16.23% (above 0%: growing) −132.83% (below 0%: shrinking) 47.66% 26.93% Compare
CTOS Custom Truck One Source, Inc. $2.1B 71.6× 82.8× +2.73% (above 0%: growing) n/m +540.01% (above 0%: growing) 22.87% 7.69%
VSTS Vestis Corporation $1.9B — (loss-making) 93.4× −1.80% (below 0%: shrinking) n/m +478.29% (above 0%: growing) 28.02% 5.63% Compare
PRG Aaron's Holdings Company, Inc. $1.5B 10.3× 9.1× +25.63% (above 0%: growing) +13.23% (above 0%: growing) −2.74% (below 0%: shrinking) 89.55% 9.09% Compare
LIME Neutron Holdings, Inc. $1.2B — — — — — 42.42% 4.21% Compare
WLFC Willis Lease Finance Corporation $992.9M 12.9× 10.1× +34.32% (above 0%: growing) −50.74% (below 0%: shrinking) −378.05% (below 0%: shrinking) 57.78% 17.75% Compare
Median of peers $2.5B 14.1× 18.6× +7.08% +13.23% −11.76% 50.24% 13.42%

All 20 Rental & Leasing Services stocks →

Pay and ownership Proxy statement filed 29 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.58m 2.06m 91.14

Ownership

Directors and executive officers, together 4.70%
Platinum Equity, LLC 68.90%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Custom Truck One Source, Inc. (CTOS) Latest News

4 Nov

Impact 4 · · The Motley Fool

2 Nov

Impact 3 · · StockStory

28 Oct

Impact 4 · · Simply Wall St.
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27 Oct

Impact 4 · · MarketBeat
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26 Oct

Impact 3 · · Zacks
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24 Oct

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6 Oct

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29 Sep

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25 Sep

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2 Sep

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17 Aug

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10 Aug

Impact 3 · · The Motley Fool transcript

7 Aug

Impact 4 · · kansascity.com

6 Aug

Impact 3 ·

5 Aug

Impact 3 · · MarketBeat transcript

4 Aug

Impact 4 ·
Impact 3 · · Moby

3 Aug

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2 Aug

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CTOS metrics, ten years each

stockrow.com/CTOS · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com