NYSE : CTOS
Custom Truck One Source, Inc. — Financial statements
Industrials · Rental & Leasing Services · United States
Last price 10.6 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.41B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Custom Truck One Source, Inc. (CTOS) reported revenue of 2.05B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.05B | 1.94B | 1.80B | 1.87B | 1.57B | 1.17B |
| Cost of Revenue | 1.59B | 1.53B | 1.41B | 1.41B | 1.19B | 957.14M |
| Gross Profit | 463.38M | 411.89M | 390.27M | 454.26M | 383.75M | 210.01M |
| Selling, General & Admin | 231.89M | 230.08M | 229.54M | 231.40M | 210.87M | 155.78M |
| Amortization of Goodwill & Intangibles | 26.73M | 26.96M | 26.65M | 27.11M | 33.94M | 40.75M |
| Operating Expenses | 272.45M | 270.31M | 269.49M | 269.17M | 254.22M | 200.15M |
| Operating Income | 190.93M | 141.58M | 120.78M | 185.09M | 129.53M | 9.86M |
| Interest Expense | -148.55M | -157.62M | -167.10M | -131.31M | -88.91M | -72.84M |
| Other Non Operating Income (Expenses) | 1.99M | 4.55M | 11.55M | 18.44M | 32.33M | -571.00K |
| EBT Excluding Unusual Items | 44.38M | -11.49M | -34.77M | 72.22M | 72.95M | -63.55M |
| Merger & Restructuring Charges | -22.79M | -16.64M | -17.91M | -14.14M | -26.22M | -51.83M |
| Gain (Loss) on Sale of Assets | 23.50M | |||||
| Other Unusual Items | -61.70M | |||||
| Pretax Income | 21.59M | -28.13M | -29.19M | 58.08M | 46.73M | -177.08M |
| Income Tax Expense | -7.89M | 2.92M | -532.00K | 7.36M | 7.83M | 4.42M |
| Net Income | 29.48M | -31.05M | -28.66M | 50.71M | 38.91M | -181.50M |
| Net Income to Common | 29.48M | -31.05M | -28.66M | 50.71M | 38.91M | -181.50M |
| Shares Outstanding (Basic) | 226.98M | 226.96M | 236.97M | 245.09M | 247.15M | 241.37M |
| Shares Outstanding (Diluted) | 228.56M | 226.96M | 236.97M | 245.73M | 247.71M | 241.37M |
| EPS (Basic) | 0.13 | -0.14 | -0.12 | 0.21 | 0.16 | -0.75 |
| EPS (Diluted) | 0.13 | -0.14 | -0.12 | 0.21 | 0.16 | -0.75 |
| Free Cash Flow | 39.48M | 59.21M | -71.74M | -165.51M | -88.97M | 50.37M |
| Free Cash Flow Per Share | 0.17 | 0.26 | -0.30 | -0.67 | -0.36 | 0.21 |
| Gross Margin | 22.62% | 21.19% | 21.65% | 24.36% | 24.39% | 17.99% |
| Operating Margin | 9.32% | 7.28% | 6.70% | 9.92% | 8.23% | 0.84% |
| Profit Margin | 1.44% | -1.60% | -1.59% | 2.72% | 2.47% | -15.55% |
| Free Cash Flow Margin | 1.93% | 3.05% | -3.98% | -8.87% | -5.66% | 4.32% |
| EBITDA | 239.10M | 189.83M | 173.17M | 233.42M | 181.31M | 61.83M |
| EBITDA Margin | 11.67% | 9.77% | 9.61% | 12.52% | 11.53% | 5.30% |
| D&A For EBITDA | 48.17M | 48.24M | 52.39M | 48.33M | 51.78M | 51.96M |
| EBIT | 190.93M | 141.58M | 120.78M | 185.09M | 129.53M | 9.86M |
| EBIT Margin | 9.32% | 7.28% | 6.70% | 9.92% | 8.23% | 0.84% |
| Effective Tax Rate | 12.68% | 16.75% | ||||
| Revenue as Reported | 2.05B | 1.94B | 1.80B | 1.87B | 1.57B | 1.17B |
| Advertising Expenses | 6.70M | 6.20M | 3.30M | 3.10M | 4.80M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 14.56M | 6.27M | 3.81M | 10.31M | 14.36M | 35.90M |
| Cash & Short-Term Investments | 14.56M | 6.27M | 3.81M | 10.31M | 14.36M | 35.90M |
| Receivables | 212.48M | 204.39M | 224.79M | 245.93M | 231.38M | 197.04M |
| Inventory | 1.02B | 930.94M | 1.05B | 985.79M | 596.72M | 410.54M |
| Prepaid Expenses | 14.92M | 17.01M | 23.56M | 23.86M | 25.78M | 13.22M |
| Total Current Assets | 1.26B | 1.16B | 1.30B | 1.27B | 868.25M | 656.70M |
| Property, Plant & Equipment | 276.88M | 253.45M | 225.62M | 180.54M | 151.39M | 144.63M |
| Goodwill | 704.88M | 705.17M | 704.81M | 704.01M | 703.83M | 695.87M |
| Other Intangible Assets | 205.50M | 225.72M | 252.39M | 277.21M | 304.13M | 327.84M |
| Other Long-Term Assets | 1.15B | 1.10B | 1.02B | 940.13M | 910.62M | 858.73M |
| Total Assets | 3.60B | 3.44B | 3.50B | 3.37B | 2.94B | 2.68B |
| Accounts Payable | 123.34M | 88.37M | 88.49M | 117.65M | 87.25M | 91.12M |
| Accrued Expenses | 88.30M | 69.23M | 69.35M | 73.85M | 68.78M | 60.34M |
| Short-Term Debt | 730.55M | 657.42M | 801.33M | 662.31M | 430.17M | 237.95M |
| Current Portion of Long-Term Debt | 1.24M | 25.86M | 7.84M | 8.26M | 6.94M | 6.35M |
| Current Portion of Leases | 9.35M | 8.96M | 7.45M | 6.56M | 7.06M | 9.03M |
| Current Unearned Revenue | 27.82M | 23.50M | 26.25M | 28.76M | 34.67M | 35.79M |
| Total Current Liabilities | 980.60M | 873.33M | 1.00B | 897.39M | 634.88M | 440.58M |
| Long-Term Debt | 1.65B | 1.62B | 1.52B | 1.49B | 1.35B | 1.31B |
| Long-Term Leases | 110.25M | 105.91M | 88.67M | 32.71M | 28.02M | 36.62M |
| Long-Term Deferred Tax Liabilities | 31.41M | 33.76M | 31.40M | 33.35M | 29.09M | 15.62M |
| Other Long-Term Liabilities | 3.02M | 24.16M | ||||
| Total Liabilities | 2.77B | 2.63B | 2.64B | 2.45B | 2.05B | 1.83B |
| Common Stock | 25.00K | 25.00K | 25.00K | 25.00K | 25.00K | 25.00K |
| Additional Paid-In Capital | 1.57B | 1.56B | 1.55B | 1.54B | 1.52B | 1.51B |
| Retained Earnings | -608.98M | -617.58M | -586.53M | -557.87M | -608.59M | -647.49M |
| Treasury Stock | -124.97M | -122.60M | -88.23M | -56.52M | -15.54M | -3.02M |
| Comprehensive Income & Other | -12.77M | -10.61M | -14.74M | -5.98M | -8.95M | |
| Shareholders' Equity | 821.52M | 809.10M | 861.31M | 917.20M | 888.44M | 858.51M |
| Total Liabilities & Equity | 3.60B | 3.44B | 3.50B | 3.37B | 2.94B | 2.68B |
| Total Debt | 2.50B | 2.42B | 2.43B | 2.20B | 1.83B | 1.60B |
| Net Cash (Debt) | -2.49B | -2.41B | -2.42B | -2.19B | -1.81B | -1.56B |
| Net Cash Per Share | -10.89 | -10.62 | -10.22 | -8.90 | -7.32 | -6.47 |
| Filing Date Shares Outstanding | 227.17M | 226.63M | 225.65M | 240.27M | 246.11M | 247.04M |
| Total Common Shares Outstanding | 227.17M | 226.63M | 233.79M | 241.01M | 246.07M | 247.04M |
| Working Capital | 277.08M | 285.29M | 300.75M | 368.51M | 233.37M | 216.12M |
| Book Value Per Share | 3.62 | 3.57 | 3.68 | 3.81 | 3.61 | 3.48 |
| Tangible Book Value | -88.86M | -121.79M | -95.89M | -64.02M | -119.52M | -165.19M |
| Tangible Book Value Per Share | -0.39 | -0.54 | -0.41 | -0.27 | -0.49 | -0.67 |
| Land | 29.68M | 26.87M | 26.38M | 25.77M | 20.29M | |
| Buildings | 71.21M | 68.94M | 65.37M | 65.66M | 52.42M | |
| Machinery | 85.95M | 81.38M | 63.59M | 57.73M | 54.74M | |
| Construction In Progress | 18.95M | 3.67M | 27.58M | 2.98M | 2.02M | |
| Order Backlog | 335.26M | 368.78M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 29.48M | -31.05M | -28.66M | 50.71M | 38.91M | -181.50M |
| Depreciation & Amortization | 48.17M | 48.24M | 52.39M | 48.33M | 51.78M | 51.96M |
| Other Amortization | 231.19M | 220.01M | 189.15M | 176.32M | 176.56M | 161.85M |
| Loss (Gain) From Sale of Assets | -54.79M | -49.97M | -46.00M | -67.72M | -55.21M | -11.64M |
| Stock-Based Compensation | 10.09M | 8.47M | 11.86M | 13.31M | 12.30M | 17.31M |
| Provision & Write-off of Bad Debts | 4.95M | 9.44M | 10.78M | 8.52M | 12.65M | 11.10M |
| Other Operating Activities | -7.03M | 2.08M | -25.69M | 1.76M | -12.90M | 71.75M |
| Change in Accounts Receivable | -17.24M | 15.64M | -21.75M | -20.88M | -36.82M | -37.72M |
| Change in Inventory | 21.99M | 121.12M | -64.86M | -388.06M | -194.69M | 46.57M |
| Change in Accounts Payable | 16.27M | -660.00K | -27.48M | 28.34M | -5.59M | 8.06M |
| Change in Unearned Revenue | 383.00K | -2.79M | -2.46M | -5.92M | -1.10M | 19.98M |
| Change in Other Net Operating Assets | -4.49M | -30.42M | 74.70M | 124.42M | 60.09M | -18.82M |
| Operating Cash Flow | 278.97M | 310.11M | 121.98M | -30.88M | 45.97M | 138.93M |
| Capital Expenditures | -239.49M | -250.90M | -193.72M | -134.63M | -134.94M | -88.56M |
| Cash Acquisitions | -6.01M | -49.83M | -1.34B | |||
| Other Investing Activities | -42.10M | -31.56M | 12.25M | -41.97M | -34.16M | -3.24M |
| Investing Cash Flow | -281.59M | -282.46M | -187.49M | -176.60M | -218.94M | -1.43B |
| Long-Term Debt Issued | 352.51M | 263.21M | 242.09M | 153.04M | 1.44B | |
| Short-Term Debt Repaid | -586.96M | -544.01M | -673.62M | -491.60M | -353.64M | |
| Long-Term Debt Repaid | -239.40M | -236.58M | -116.74M | -115.32M | -859.84M | |
| Total Debt Repaid | -800.49M | -826.35M | -780.59M | -790.36M | -606.92M | -1.21B |
| Net Debt Issued (Repaid) | -503.15M | -473.85M | -517.38M | -548.27M | -453.88M | 230.34M |
| Issuance of Common Stock | 883.00M | |||||
| Repurchase of Common Stock | -32.58M | -28.98M | -38.84M | -10.28M | ||
| Other Financing Activities | 505.98M | 481.15M | 604.65M | 789.99M | 618.06M | 209.70M |
| Financing Cash Flow | 2.83M | -25.27M | 58.28M | 202.88M | 153.90M | 1.32B |
| Foreign Exchange Rate Adjustments | 1.29M | 87.00K | 713.00K | 554.00K | -2.47M | |
| Net Cash Flow | 1.51M | 2.47M | -6.50M | -4.05M | -21.54M | 32.49M |
| Free Cash Flow | 39.48M | 59.21M | -71.74M | -165.51M | -88.97M | 50.37M |
| Free Cash Flow Margin | 1.93% | 3.05% | -3.98% | -8.87% | -5.66% | 4.32% |
| Free Cash Flow Per Share | 0.17 | 0.26 | -0.30 | -0.67 | -0.36 | 0.21 |
| Levered Free Cash Flow | 91.10M | 158.11M | -47.51M | -235.22M | -98.54M | -295.31M |
| Unlevered Free Cash Flow | 179.55M | 252.25M | 51.23M | -158.80M | -47.83M | -254.52M |
| Cash Interest Paid | 147.83M | 155.43M | 152.34M | 122.87M | 81.18M | 92.62M |
| Cash Income Tax Paid | 375.00K | 713.00K | 4.14M | 2.13M | 567.00K | 541.00K |
| Change in Working Capital | 16.91M | 102.89M | -41.84M | -262.11M | -178.11M | 18.08M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.41B | 1.30B | 1.12B | 1.50B | 1.56B | 1.98B |
| Enterprise Value | 4.90B | 3.78B | 3.66B | 3.55B | 3.29B | 3.59B |
| Last Close Price | 10.60 | 5.76 | 4.81 | 6.18 | 6.32 | 8.00 |
| PE Ratio | 81.78 | 29.60 | 40.06 | |||
| Forward PE | 40.72 | 161.63 | 169.66 | 16.01 | 26.32 | 250.78 |
| PS Ratio | 1.18 | 0.67 | 0.62 | 0.81 | 0.99 | 1.69 |
| PB Ratio | 2.93 | 1.61 | 1.30 | 1.64 | 1.75 | 2.30 |
| P/FCF Ratio | 60.99 | 22.04 | 39.23 | |||
| P/OCF Ratio | 8.63 | 4.21 | 9.20 | 33.90 | 14.22 | |
| PEG Ratio | 1.15 | 1.15 | 0.43 | 2.57 | 25.08 | |
| EV/Sales Ratio | 2.39 | 1.95 | 2.03 | 1.90 | 2.09 | 3.07 |
| EV/EBITDA Ratio | 20.48 | 19.93 | 21.12 | 15.21 | 18.13 | 58.00 |
| EV/EBIT Ratio | 25.65 | 26.72 | 30.28 | 19.18 | 25.37 | 363.57 |
| EV/FCF Ratio | 124.05 | 63.90 | 71.19 | |||
| Debt / Equity Ratio | 3.05 | 2.99 | 2.82 | 2.40 | 2.06 | 1.86 |
| Debt / EBITDA Ratio | 9.54 | 11.63 | 13.19 | 9.03 | 9.68 | 23.82 |
| Debt / FCF Ratio | 63.42 | 40.83 | 31.73 | |||
| Net Debt / Equity Ratio | 3.03 | 2.98 | 2.81 | 2.38 | 2.04 | 1.82 |
| Net Debt / EBITDA Ratio | 10.41 | 12.70 | 13.98 | 9.37 | 10.00 | 25.27 |
| Net Debt / FCF Ratio | 63.05 | 40.72 | -33.75 | -13.21 | -20.37 | 31.02 |
| Asset Turnover | 0.57 | 0.56 | 0.53 | 0.59 | 0.56 | 0.68 |
| Inventory Turnover | 1.54 | 1.55 | 1.39 | 1.78 | 2.36 | 4.33 |
| Quick Ratio | 0.23 | 0.24 | 0.23 | 0.29 | 0.39 | 0.53 |
| Current Ratio | 1.28 | 1.33 | 1.30 | 1.41 | 1.37 | 1.49 |
| Return on Equity (ROE) | 3.67% | -3.72% | -3.22% | 5.62% | 4.45% | -43.87% |
| Return on Assets (ROA) | 3.34% | 2.55% | 2.20% | 3.67% | 2.88% | 0.36% |
| Return on Invested Capital (ROIC) | 5.73% | 4.35% | 3.78% | 5.57% | 4.21% | 0.63% |
| Return on Capital Employed (ROCE) | 7.30% | 5.50% | 4.80% | 7.50% | 5.60% | 0.40% |
| Earnings Yield | 1.22% | -2.38% | -2.55% | 3.38% | 2.50% | -9.19% |
| FCF Yield | 1.64% | 4.54% | -6.39% | -11.03% | -5.71% | 2.55% |
| Buyback Yield / Dilution | 0.05% | 4.23% | 3.56% | 0.80% | -2.62% | -391.94% |