Custom Truck One Source, Inc. (CTOS) 10-Year Financial Performance & Capital Metrics

CTOS • • Industrial / General

IndustrialsRental & LeasingConstruction & Industrial Equipment RentalSpecialized Heavy Equipment Suppliers

AboutCustom Truck One Source, Inc. provides specialty equipment rental services to the electric utility transmission and distribution, telecommunications, rail, other infrastructure-related industries in North America. It operates through Equipment Rental Solutions, Truck and Equipment Sales, and Aftermarket Parts and Services segments. The Equipment Rental Solutions owns new and used specialty equipment, including truck-mounted aerial lifts, cranes, service trucks, dump trucks, trailers, digger derricks, and other machinery and equipment. The Truck and Equipment Sales segment offers new equipment for sale to be used for end-markets which can be modified to meet customers specific needs. The Aftermarket Parts and Services segment provides truck and equipment maintenance and repair services 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. Custom Truck One Source, Inc. was founded in 1988 and is headquartered in Kansas City, Missouri.Show more

Revenue $1.8B -3.4%
EBITDA $364M -11.4%
Net Income -$29M -156.5%
EPS (Diluted) -0.12 -157.1%
Gross Margin 19.05% -13.3%
EBITDA Margin 20.17% -8.4%
Operating Margin 6.7% -32.5%
Net Margin -1.59% -158.5%
ROE -3.22% -157.4%
ROIC 2.84% -40.7%
Debt/Equity 2.82 +17.5%
Interest Coverage 0.72 -48.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 46.8%
✓Share count reduced 4.6% through buybacks

✗Weaknesses

✗High debt to equity ratio of 2.8x
✗Weak 3Y average ROE of 2.3%
✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y46.84%

3Y15.58%

TTM7.39%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM39.28%

EPS CAGR

10Y-

5Y-

3Y-

TTM28.14%

ROCE

10Y Avg4.96%

5Y Avg4.28%

3Y Avg6.1%

Latest4.86%

Peer Comparison

Specialized Heavy Equipment Suppliers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
TLIHTen-League International Holdings Limited Ordinary Shares	14.44M	0.49	7.82	-19.63%	3.22%	35.71%	6.05
ALTGAlta Equipment Group Inc.	203.4M	6.31	-3.22	-0.01%	-4.34%	-27.31%	15.45
MWGMulti Ways Holdings Limited	12.68M	0.25	-3.68	-13.74%	-1.59%	-5.3%	1.09
CTOSCustom Truck One Source, Inc.	1.45B	6.40	-53.33	-3.37%	-1.26%	-3.1%	2.82

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	246.3M	264.04M	302.74M	1.17B	1.57B	1.87B	1.8B
Revenue Growth %	-	-	0.07%	0.15%	2.86%	0.35%	0.19%	-0.03%
Cost of Goods Sold+	0	167.72M	180.61M	226.3M	1B	1.23B	1.46B	1.46B
COGS % of Revenue	-	0.68%	0.68%	0.75%	0.86%	0.78%	0.78%	0.81%
Gross Profit+	0	78.57M	83.43M	76.44M	165.65M	340.39M	410.09M	343.43M
Gross Margin %	-	0.32%	0.32%	0.25%	0.14%	0.22%	0.22%	0.19%
Gross Profit Growth %	-	-	0.06%	-0.08%	1.17%	1.05%	0.2%	-0.16%
Operating Expenses+	777.47K	34.97M	39.11M	59.2M	155.78M	210.87M	225M	222.64M
OpEx % of Revenue	-	0.14%	0.15%	0.2%	0.13%	0.13%	0.12%	0.12%
Selling, General & Admin	777.47K	32.72M	34.67M	46.41M	155.78M	210.87M	225M	222.64M
SG&A % of Revenue	-	0.13%	0.13%	0.15%	0.13%	0.13%	0.12%	0.12%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-2.25M	4.44M	12.79M	0	0	0	0
Operating Income+	-777.47K	43.6M	44.32M	17.25M	9.86M	129.53M	185.09M	120.78M
Operating Margin %	-	0.18%	0.17%	0.06%	0.01%	0.08%	0.1%	0.07%
Operating Income Growth %	-	57.08%	0.02%	-0.61%	-0.43%	12.13%	0.43%	-0.35%
EBITDA+	-777.47K	110.74M	118.87M	23.61M	218.94M	353.01M	410.48M	363.52M
EBITDA Margin %	-	0.45%	0.45%	0.08%	0.19%	0.22%	0.22%	0.2%
EBITDA Growth %	-	143.44%	0.07%	-0.8%	8.27%	0.61%	0.16%	-0.11%
D&A (Non-Cash Add-back)	0	67.14M	74.56M	6.36M	209.07M	223.48M	225.39M	242.74M
EBIT	-777.47K	42.88M	30.32M	26.79M	-104.23M	135.64M	189.39M	137.92M
Net Interest Income+	0	-56.7M	-65.05M	-63.2M	-72.84M	-88.91M	-112.87M	-155.55M
Interest Income	0	6.68M	63.36M	0	0	0	18.44M	11.55M
Interest Expense	0	63.38M	63.36M	63.2M	72.84M	88.91M	131.31M	167.1M
Other Income/Expense	0	-57.42M	-77.35M	-68.6M	-186.94M	-82.79M	-127.02M	-149.97M
Pretax Income+	-777.47K	5.17M	-33.04M	-51.35M	-177.08M	46.73M	58.08M	-29.19M
Pretax Margin %	-	0.02%	-0.13%	-0.17%	-0.15%	0.03%	0.03%	-0.02%
Income Tax+	0	-13.46M	-5.99M	-30.07M	4.42M	7.83M	7.36M	-532K
Effective Tax Rate %	1%	1%	0.82%	0.41%	1.02%	0.83%	0.87%	0.98%
Net Income+	-777.47K	5.17M	-27.05M	-21.28M	-181.5M	38.91M	50.71M	-28.66M
Net Margin %	-	0.02%	-0.1%	-0.07%	-0.16%	0.02%	0.03%	-0.02%
Net Income Growth %	-	7.65%	-6.23%	0.21%	-7.53%	1.21%	0.3%	-1.57%
Net Income (Continuing)	-777.47K	-15.53M	-27.05M	-21.28M	-181.5M	38.91M	50.71M	-28.66M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.07	0.43	-0.82	-0.43	-0.75	0.16	0.21	-0.12
EPS Growth %	-	7.09%	-2.91%	0.48%	-0.74%	1.21%	0.31%	-1.57%
EPS (Basic)	-0.07	0.43	-0.82	-0.43	-0.75	0.16	0.21	-0.12
Diluted Shares Outstanding	11.01M	11.92M	33.07M	49.06M	241.37M	247.71M	245.73M	234.44M
Basic Shares Outstanding	11.01M	11.92M	33.07M	49.06M	241.37M	247.15M	245.09M	234.44M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	608.84K	469.6K	115.84M	103.24M	656.7M	868.25M	1.27B	1.3B
Cash & Short-Term Investments	501.93K	468.25K	6.3M	3.41M	35.9M	14.36M	10.31M	3.81M
Cash Only	501.93K	468.25K	6.3M	3.41M	35.9M	14.36M	10.31M	3.81M
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	0	52.56M	71.32M	60.93M	197.04M	231.38M	245.93M	224.79M
Days Sales Outstanding	-	77.89	98.6	73.46	61.62	53.69	48.13	45.52
Inventory	8.04M	11.44M	33M	31.37M	410.54M	596.72M	985.79M	1.05B
Days Inventory Outstanding	-	24.88	66.69	50.59	149.62	176.69	247.29	262.53
Other Current Assets	0	-63.99M	0	0	0	25.78M	23.86M	23.56M
Total Non-Current Assets+	402.5M	407.73M	699.44M	665.16M	2.03B	2.07B	2.1B	2.2B
Property, Plant & Equipment	2.62M	323.49M	389.98M	342.08M	978.95M	1.04B	1.1B	1.23B
Fixed Asset Turnover	-	0.76x	0.68x	0.88x	1.19x	1.52x	1.70x	1.47x
Goodwill	227.53M	228.71M	238.19M	238.05M	695.87M	703.83M	704.01M	704.81M
Intangible Assets	71.34M	70.74M	70.55M	67.58M	327.84M	304.13M	277.21M	252.39M
Long-Term Investments	402.5M	0	0	0	-15.62K	0	0	0
Other Non-Current Assets	402.5M	-215.21M	713K	498K	24.41M	26.94M	23.43M	16.05M
Total Assets+	403.11M	408.2M	815.28M	768.4M	2.68B	2.94B	3.37B	3.5B
Asset Turnover	-	0.60x	0.32x	0.39x	0.43x	0.54x	0.55x	0.51x
Asset Growth %	-	0.01%	1%	-0.06%	2.49%	0.09%	0.15%	0.04%
Total Current Liabilities+	176.47K	90.88K	77.76M	71.35M	440.58M	634.88M	897.39M	1B
Accounts Payable	0	20.87M	41.17M	31.83M	91.12M	87.25M	117.65M	88.49M
Days Payables Outstanding	-	45.41	83.21	51.34	33.21	25.84	29.51	22.14
Short-Term Debt	1.58M	0	1.28M	1.28M	244.31M	437.11M	670.57M	809.17M
Deferred Revenue (Current)	-1000K	1000K	1000K	975K	1000K	1000K	1000K	1000K
Other Current Liabilities	-26.8M	-20.78M	0	0	0	0	0	0
Current Ratio	3.45x	5.17x	1.49x	1.45x	1.49x	1.37x	1.41x	1.30x
Quick Ratio	-42.13x	-120.66x	1.07x	1.01x	0.56x	0.43x	0.31x	0.25x
Cash Conversion Cycle	-	57.36	82.08	72.72	178.03	204.54	265.91	285.92
Total Non-Current Liabilities+	14.09M	14.09M	749.65M	728.12M	1.38B	1.41B	1.55B	1.64B
Long-Term Debt	777.92M	0	713.02M	715.86M	1.31B	1.35B	1.49B	1.52B
Capital Lease Obligations	23.27M	28.42M	22.63M	5.25M	36.62M	28.02M	32.71M	88.67M
Deferred Tax Liabilities	0	11.19M	12.29M	0	15.62M	29.09M	0	31.4M
Other Non-Current Liabilities	-787.11M	-14.33M	1.71M	7.01M	24.15M	3.02M	33.35M	0
Total Liabilities	14.26M	14.18M	827.41M	799.47M	1.83B	2.05B	2.45B	2.64B
Total Debt+	779.5M	792.69M	742.38M	727.66M	1.6B	1.83B	2.2B	2.43B
Net Debt	779M	792.22M	736.08M	724.25M	1.56B	1.81B	2.19B	2.42B
Debt / Equity	2.00x	2.01x	-	-	1.86x	2.06x	2.40x	2.82x
Debt / EBITDA	-	7.16x	6.25x	30.83x	7.30x	5.18x	5.35x	6.67x
Net Debt / EBITDA	-	7.15x	6.19x	30.68x	7.14x	5.13x	5.33x	6.66x
Interest Coverage	-	0.69x	0.70x	0.27x	0.14x	1.46x	1.41x	0.72x
Total Equity+	388.84M	394.02M	-12.13M	-31.07M	858.51M	888.44M	917.2M	861.31M
Equity Growth %	-	0.01%	-1.03%	-1.56%	28.63%	0.03%	0.03%	-0.06%
Book Value per Share	35.31	33.07	-0.37	-0.63	3.56	3.59	3.73	3.67
Total Shareholders' Equity	388.84M	394.02M	-12.13M	-31.07M	858.51M	888.44M	917.2M	861.31M
Common Stock	383.85M	389.02M	5K	5K	25K	25K	25K	25K
Retained Earnings	-777.47K	4.4M	-444.71M	-465.99M	-647.49M	-608.59M	-557.87M	-586.53M
Treasury Stock	0	0	0	0	-3.02M	-15.54M	-56.52M	-88.23M
Accumulated OCI	0	-396K	0	0	0	-8.95M	-5.98M	-14.74M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-707.92K	-1.53M	18.79M	42.83M	138.93M	45.97M	-30.88M	121.98M
Operating CF Margin %	-	-0.01%	0.07%	0.14%	0.12%	0.03%	-0.02%	0.07%
Operating CF Growth %	-	-1.17%	13.25%	1.28%	2.24%	-0.67%	-1.67%	4.95%
Net Income	-777.47K	5.17M	-27.05M	-21.28M	-181.5M	38.91M	50.71M	-28.66M
Depreciation & Amortization	2.86M	67.14M	74.56M	82.71M	209.07M	223.48M	218.99M	235.84M
Stock-Based Compensation	1.1M	1.13M	1.01M	2.36M	17.31M	12.3M	13.31M	11.86M
Deferred Taxes	0	1.1M	-6.86M	-28.81M	3.86M	7.39M	4.24M	-1.66M
Other Non-Cash Items	66.13M	-6.73M	8.71M	6.54M	72.09M	-57.99M	-33.62M	-53.55M
Working Capital Changes	69.55K	19.98K	-31.58M	1.31M	18.08M	-178.11M	-284.52M	-41.84M
Change in Receivables	-20.5M	-5.18M	-17.07M	7.06M	-37.72M	-36.82M	-20.88M	10.78K
Change in Inventory	-8.74M	-8.02M	-22.68M	-9.64M	46.57M	-194.69M	-388.06M	-64.86K
Change in Payables	0	-85.59K	7.55M	3.11M	8.06M	-5.59M	28.34M	-27.48K
Cash from Investing+	-402.5M	1.5M	-129.68M	-29.31M	-1.43B	-218.94M	-176.6M	-187.49M
Capital Expenditures	-20.89M	-59.23M	-109.71M	-68.42M	-188.39M	-340.79M	-134.63M	0
CapEx % of Revenue	-	0.24%	0.42%	0.23%	0.16%	0.22%	0.07%	0.22%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	0	1.5M	28.45M	4.18M	96.59M	171.69M	-41.97M	-181.47M
Cash from Financing+	403.71M	-10.78M	115.05M	-16.41M	1.32B	153.9M	202.88M	58.28M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	-326K	-1.65M	131.78M	-279K	-95.2M	-1.84M	116M	-1.08M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-21.6M	-60.77M	-90.91M	-25.59M	-49.46M	-294.82M	-395.07M	-276.33M
FCF Margin %	-	-0.25%	-0.34%	-0.08%	-0.04%	-0.19%	-0.21%	-0.15%
FCF Growth %	-	-1.81%	-0.5%	0.72%	-0.93%	-4.96%	-0.34%	0.3%
FCF per Share	-1.96	-5.10	-2.75	-0.52	-0.20	-1.19	-1.61	-1.18
FCF Conversion (FCF/Net Income)	0.91x	-0.30x	-0.69x	-2.01x	-0.77x	1.18x	-0.61x	-4.26x
Interest Paid	0	53.76M	53.59M	60.34M	92.63M	81.18M	122.87M	152.34M
Taxes Paid	0	526K	455K	646K	541K	567K	2.13M	4.14M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-0.2%	1.32%	-14.17%	-	-43.87%	4.45%	5.62%	-3.22%
Return on Invested Capital (ROIC)	-	2.78%	3.48%	1.83%	0.48%	3.79%	4.78%	2.84%
Gross Margin	-	31.9%	31.6%	25.25%	14.19%	21.64%	21.99%	19.05%
Net Margin	-	2.1%	-10.25%	-7.03%	-15.55%	2.47%	2.72%	-1.59%
Debt / Equity	2.00x	2.01x	-	-	1.86x	2.06x	2.40x	2.82x
Interest Coverage	-	0.69x	0.70x	0.27x	0.14x	1.46x	1.41x	0.72x
FCF Conversion	0.91x	-0.30x	-0.69x	-2.01x	-0.77x	1.18x	-0.61x	-4.26x
Revenue Growth	-	-	7.2%	14.66%	285.53%	34.78%	18.56%	-3.37%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Sales And Services	66.04M	107.25M	797.09M	1.11B	1.39B	1.36B
Sales And Services Growth	-	62.40%	643.21%	39.14%	24.99%	-1.94%
Rental Revenue, Excluding Shipping And Handling	189.16M	187.52M	355.66M	444.15M	453.7M	422.3M
Rental Revenue, Excluding Shipping And Handling Growth	-	-0.87%	89.66%	24.88%	2.15%	-6.92%
Rental Revenue, Shipping And Handling	8.84M	7.97M	14.41M	19.88M	25.21M	20.66M
Rental Revenue, Shipping And Handling Growth	-	-9.81%	80.84%	38.00%	26.81%	-18.07%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
UNITED STATES	257.3M	295.13M	1.15B	1.53B	1.82B	1.76B
UNITED STATES Growth	-	14.70%	289.22%	33.12%	18.79%	-3.37%
CANADA	5.71M	5.83M	18.47M	43.92M	48.63M	47.06M
CANADA Growth	-	2.14%	216.99%	137.78%	10.72%	-3.23%
MEXICO	1.03M	1.79M	-	-	-	-
MEXICO Growth	-	72.99%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Custom Truck One Source, Inc. (CTOS) reported $1.94B in revenue for fiscal year 2024.

Custom Truck One Source, Inc. (CTOS) saw revenue decline by 3.4% over the past year.

Custom Truck One Source, Inc. (CTOS) reported a net loss of $24.4M for fiscal year 2024.

Dividend & Returns

Custom Truck One Source, Inc. (CTOS) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.

Custom Truck One Source, Inc. (CTOS) had negative free cash flow of $123.9M in fiscal year 2024, likely due to heavy capital investments.

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Custom Truck One Source, Inc. (CTOS) 10-Year Financial Performance & Capital Metrics

CTOS • • Industrial / General

IndustrialsRental & LeasingConstruction & Industrial Equipment RentalSpecialized Heavy Equipment Suppliers

Revenue $1.8B -3.4%
EBITDA $364M -11.4%
Net Income -$29M -156.5%
EPS (Diluted) -0.12 -157.1%
Gross Margin 19.05% -13.3%
EBITDA Margin 20.17% -8.4%
Operating Margin 6.7% -32.5%
Net Margin -1.59% -158.5%
ROE -3.22% -157.4%
ROIC 2.84% -40.7%
Debt/Equity 2.82 +17.5%
Interest Coverage 0.72 -48.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 46.8%
✓Share count reduced 4.6% through buybacks

✗Weaknesses

✗High debt to equity ratio of 2.8x
✗Weak 3Y average ROE of 2.3%
✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y46.84%

3Y15.58%

TTM7.39%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM39.28%

EPS CAGR

10Y-

5Y-

3Y-

TTM28.14%

ROCE

10Y Avg4.96%

5Y Avg4.28%

3Y Avg6.1%

Latest4.86%

Peer Comparison

Specialized Heavy Equipment Suppliers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
TLIHTen-League International Holdings Limited Ordinary Shares	14.44M	0.49	7.82	-19.63%	3.22%	35.71%	6.05
ALTGAlta Equipment Group Inc.	203.4M	6.31	-3.22	-0.01%	-4.34%	-27.31%	15.45
MWGMulti Ways Holdings Limited	12.68M	0.25	-3.68	-13.74%	-1.59%	-5.3%	1.09
CTOSCustom Truck One Source, Inc.	1.45B	6.40	-53.33	-3.37%	-1.26%	-3.1%	2.82

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	246.3M	264.04M	302.74M	1.17B	1.57B	1.87B	1.8B
Revenue Growth %	-	-	0.07%	0.15%	2.86%	0.35%	0.19%	-0.03%
Cost of Goods Sold+	0	167.72M	180.61M	226.3M	1B	1.23B	1.46B	1.46B
COGS % of Revenue	-	0.68%	0.68%	0.75%	0.86%	0.78%	0.78%	0.81%
Gross Profit+	0	78.57M	83.43M	76.44M	165.65M	340.39M	410.09M	343.43M
Gross Margin %	-	0.32%	0.32%	0.25%	0.14%	0.22%	0.22%	0.19%
Gross Profit Growth %	-	-	0.06%	-0.08%	1.17%	1.05%	0.2%	-0.16%
Operating Expenses+	777.47K	34.97M	39.11M	59.2M	155.78M	210.87M	225M	222.64M
OpEx % of Revenue	-	0.14%	0.15%	0.2%	0.13%	0.13%	0.12%	0.12%
Selling, General & Admin	777.47K	32.72M	34.67M	46.41M	155.78M	210.87M	225M	222.64M
SG&A % of Revenue	-	0.13%	0.13%	0.15%	0.13%	0.13%	0.12%	0.12%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-2.25M	4.44M	12.79M	0	0	0	0
Operating Income+	-777.47K	43.6M	44.32M	17.25M	9.86M	129.53M	185.09M	120.78M
Operating Margin %	-	0.18%	0.17%	0.06%	0.01%	0.08%	0.1%	0.07%
Operating Income Growth %	-	57.08%	0.02%	-0.61%	-0.43%	12.13%	0.43%	-0.35%
EBITDA+	-777.47K	110.74M	118.87M	23.61M	218.94M	353.01M	410.48M	363.52M
EBITDA Margin %	-	0.45%	0.45%	0.08%	0.19%	0.22%	0.22%	0.2%
EBITDA Growth %	-	143.44%	0.07%	-0.8%	8.27%	0.61%	0.16%	-0.11%
D&A (Non-Cash Add-back)	0	67.14M	74.56M	6.36M	209.07M	223.48M	225.39M	242.74M
EBIT	-777.47K	42.88M	30.32M	26.79M	-104.23M	135.64M	189.39M	137.92M
Net Interest Income+	0	-56.7M	-65.05M	-63.2M	-72.84M	-88.91M	-112.87M	-155.55M
Interest Income	0	6.68M	63.36M	0	0	0	18.44M	11.55M
Interest Expense	0	63.38M	63.36M	63.2M	72.84M	88.91M	131.31M	167.1M
Other Income/Expense	0	-57.42M	-77.35M	-68.6M	-186.94M	-82.79M	-127.02M	-149.97M
Pretax Income+	-777.47K	5.17M	-33.04M	-51.35M	-177.08M	46.73M	58.08M	-29.19M
Pretax Margin %	-	0.02%	-0.13%	-0.17%	-0.15%	0.03%	0.03%	-0.02%
Income Tax+	0	-13.46M	-5.99M	-30.07M	4.42M	7.83M	7.36M	-532K
Effective Tax Rate %	1%	1%	0.82%	0.41%	1.02%	0.83%	0.87%	0.98%
Net Income+	-777.47K	5.17M	-27.05M	-21.28M	-181.5M	38.91M	50.71M	-28.66M
Net Margin %	-	0.02%	-0.1%	-0.07%	-0.16%	0.02%	0.03%	-0.02%
Net Income Growth %	-	7.65%	-6.23%	0.21%	-7.53%	1.21%	0.3%	-1.57%
Net Income (Continuing)	-777.47K	-15.53M	-27.05M	-21.28M	-181.5M	38.91M	50.71M	-28.66M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.07	0.43	-0.82	-0.43	-0.75	0.16	0.21	-0.12
EPS Growth %	-	7.09%	-2.91%	0.48%	-0.74%	1.21%	0.31%	-1.57%
EPS (Basic)	-0.07	0.43	-0.82	-0.43	-0.75	0.16	0.21	-0.12
Diluted Shares Outstanding	11.01M	11.92M	33.07M	49.06M	241.37M	247.71M	245.73M	234.44M
Basic Shares Outstanding	11.01M	11.92M	33.07M	49.06M	241.37M	247.15M	245.09M	234.44M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	608.84K	469.6K	115.84M	103.24M	656.7M	868.25M	1.27B	1.3B
Cash & Short-Term Investments	501.93K	468.25K	6.3M	3.41M	35.9M	14.36M	10.31M	3.81M
Cash Only	501.93K	468.25K	6.3M	3.41M	35.9M	14.36M	10.31M	3.81M
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	0	52.56M	71.32M	60.93M	197.04M	231.38M	245.93M	224.79M
Days Sales Outstanding	-	77.89	98.6	73.46	61.62	53.69	48.13	45.52
Inventory	8.04M	11.44M	33M	31.37M	410.54M	596.72M	985.79M	1.05B
Days Inventory Outstanding	-	24.88	66.69	50.59	149.62	176.69	247.29	262.53
Other Current Assets	0	-63.99M	0	0	0	25.78M	23.86M	23.56M
Total Non-Current Assets+	402.5M	407.73M	699.44M	665.16M	2.03B	2.07B	2.1B	2.2B
Property, Plant & Equipment	2.62M	323.49M	389.98M	342.08M	978.95M	1.04B	1.1B	1.23B
Fixed Asset Turnover	-	0.76x	0.68x	0.88x	1.19x	1.52x	1.70x	1.47x
Goodwill	227.53M	228.71M	238.19M	238.05M	695.87M	703.83M	704.01M	704.81M
Intangible Assets	71.34M	70.74M	70.55M	67.58M	327.84M	304.13M	277.21M	252.39M
Long-Term Investments	402.5M	0	0	0	-15.62K	0	0	0
Other Non-Current Assets	402.5M	-215.21M	713K	498K	24.41M	26.94M	23.43M	16.05M
Total Assets+	403.11M	408.2M	815.28M	768.4M	2.68B	2.94B	3.37B	3.5B
Asset Turnover	-	0.60x	0.32x	0.39x	0.43x	0.54x	0.55x	0.51x
Asset Growth %	-	0.01%	1%	-0.06%	2.49%	0.09%	0.15%	0.04%
Total Current Liabilities+	176.47K	90.88K	77.76M	71.35M	440.58M	634.88M	897.39M	1B
Accounts Payable	0	20.87M	41.17M	31.83M	91.12M	87.25M	117.65M	88.49M
Days Payables Outstanding	-	45.41	83.21	51.34	33.21	25.84	29.51	22.14
Short-Term Debt	1.58M	0	1.28M	1.28M	244.31M	437.11M	670.57M	809.17M
Deferred Revenue (Current)	-1000K	1000K	1000K	975K	1000K	1000K	1000K	1000K
Other Current Liabilities	-26.8M	-20.78M	0	0	0	0	0	0
Current Ratio	3.45x	5.17x	1.49x	1.45x	1.49x	1.37x	1.41x	1.30x
Quick Ratio	-42.13x	-120.66x	1.07x	1.01x	0.56x	0.43x	0.31x	0.25x
Cash Conversion Cycle	-	57.36	82.08	72.72	178.03	204.54	265.91	285.92
Total Non-Current Liabilities+	14.09M	14.09M	749.65M	728.12M	1.38B	1.41B	1.55B	1.64B
Long-Term Debt	777.92M	0	713.02M	715.86M	1.31B	1.35B	1.49B	1.52B
Capital Lease Obligations	23.27M	28.42M	22.63M	5.25M	36.62M	28.02M	32.71M	88.67M
Deferred Tax Liabilities	0	11.19M	12.29M	0	15.62M	29.09M	0	31.4M
Other Non-Current Liabilities	-787.11M	-14.33M	1.71M	7.01M	24.15M	3.02M	33.35M	0
Total Liabilities	14.26M	14.18M	827.41M	799.47M	1.83B	2.05B	2.45B	2.64B
Total Debt+	779.5M	792.69M	742.38M	727.66M	1.6B	1.83B	2.2B	2.43B
Net Debt	779M	792.22M	736.08M	724.25M	1.56B	1.81B	2.19B	2.42B
Debt / Equity	2.00x	2.01x	-	-	1.86x	2.06x	2.40x	2.82x
Debt / EBITDA	-	7.16x	6.25x	30.83x	7.30x	5.18x	5.35x	6.67x
Net Debt / EBITDA	-	7.15x	6.19x	30.68x	7.14x	5.13x	5.33x	6.66x
Interest Coverage	-	0.69x	0.70x	0.27x	0.14x	1.46x	1.41x	0.72x
Total Equity+	388.84M	394.02M	-12.13M	-31.07M	858.51M	888.44M	917.2M	861.31M
Equity Growth %	-	0.01%	-1.03%	-1.56%	28.63%	0.03%	0.03%	-0.06%
Book Value per Share	35.31	33.07	-0.37	-0.63	3.56	3.59	3.73	3.67
Total Shareholders' Equity	388.84M	394.02M	-12.13M	-31.07M	858.51M	888.44M	917.2M	861.31M
Common Stock	383.85M	389.02M	5K	5K	25K	25K	25K	25K
Retained Earnings	-777.47K	4.4M	-444.71M	-465.99M	-647.49M	-608.59M	-557.87M	-586.53M
Treasury Stock	0	0	0	0	-3.02M	-15.54M	-56.52M	-88.23M
Accumulated OCI	0	-396K	0	0	0	-8.95M	-5.98M	-14.74M
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-707.92K	-1.53M	18.79M	42.83M	138.93M	45.97M	-30.88M	121.98M
Operating CF Margin %	-	-0.01%	0.07%	0.14%	0.12%	0.03%	-0.02%	0.07%
Operating CF Growth %	-	-1.17%	13.25%	1.28%	2.24%	-0.67%	-1.67%	4.95%
Net Income	-777.47K	5.17M	-27.05M	-21.28M	-181.5M	38.91M	50.71M	-28.66M
Depreciation & Amortization	2.86M	67.14M	74.56M	82.71M	209.07M	223.48M	218.99M	235.84M
Stock-Based Compensation	1.1M	1.13M	1.01M	2.36M	17.31M	12.3M	13.31M	11.86M
Deferred Taxes	0	1.1M	-6.86M	-28.81M	3.86M	7.39M	4.24M	-1.66M
Other Non-Cash Items	66.13M	-6.73M	8.71M	6.54M	72.09M	-57.99M	-33.62M	-53.55M
Working Capital Changes	69.55K	19.98K	-31.58M	1.31M	18.08M	-178.11M	-284.52M	-41.84M
Change in Receivables	-20.5M	-5.18M	-17.07M	7.06M	-37.72M	-36.82M	-20.88M	10.78K
Change in Inventory	-8.74M	-8.02M	-22.68M	-9.64M	46.57M	-194.69M	-388.06M	-64.86K
Change in Payables	0	-85.59K	7.55M	3.11M	8.06M	-5.59M	28.34M	-27.48K
Cash from Investing+	-402.5M	1.5M	-129.68M	-29.31M	-1.43B	-218.94M	-176.6M	-187.49M
Capital Expenditures	-20.89M	-59.23M	-109.71M	-68.42M	-188.39M	-340.79M	-134.63M	0
CapEx % of Revenue	-	0.24%	0.42%	0.23%	0.16%	0.22%	0.07%	0.22%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	0	1.5M	28.45M	4.18M	96.59M	171.69M	-41.97M	-181.47M
Cash from Financing+	403.71M	-10.78M	115.05M	-16.41M	1.32B	153.9M	202.88M	58.28M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	-326K	-1.65M	131.78M	-279K	-95.2M	-1.84M	116M	-1.08M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-21.6M	-60.77M	-90.91M	-25.59M	-49.46M	-294.82M	-395.07M	-276.33M
FCF Margin %	-	-0.25%	-0.34%	-0.08%	-0.04%	-0.19%	-0.21%	-0.15%
FCF Growth %	-	-1.81%	-0.5%	0.72%	-0.93%	-4.96%	-0.34%	0.3%
FCF per Share	-1.96	-5.10	-2.75	-0.52	-0.20	-1.19	-1.61	-1.18
FCF Conversion (FCF/Net Income)	0.91x	-0.30x	-0.69x	-2.01x	-0.77x	1.18x	-0.61x	-4.26x
Interest Paid	0	53.76M	53.59M	60.34M	92.63M	81.18M	122.87M	152.34M
Taxes Paid	0	526K	455K	646K	541K	567K	2.13M	4.14M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-0.2%	1.32%	-14.17%	-	-43.87%	4.45%	5.62%	-3.22%
Return on Invested Capital (ROIC)	-	2.78%	3.48%	1.83%	0.48%	3.79%	4.78%	2.84%
Gross Margin	-	31.9%	31.6%	25.25%	14.19%	21.64%	21.99%	19.05%
Net Margin	-	2.1%	-10.25%	-7.03%	-15.55%	2.47%	2.72%	-1.59%
Debt / Equity	2.00x	2.01x	-	-	1.86x	2.06x	2.40x	2.82x
Interest Coverage	-	0.69x	0.70x	0.27x	0.14x	1.46x	1.41x	0.72x
FCF Conversion	0.91x	-0.30x	-0.69x	-2.01x	-0.77x	1.18x	-0.61x	-4.26x
Revenue Growth	-	-	7.2%	14.66%	285.53%	34.78%	18.56%	-3.37%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Sales And Services	66.04M	107.25M	797.09M	1.11B	1.39B	1.36B
Sales And Services Growth	-	62.40%	643.21%	39.14%	24.99%	-1.94%
Rental Revenue, Excluding Shipping And Handling	189.16M	187.52M	355.66M	444.15M	453.7M	422.3M
Rental Revenue, Excluding Shipping And Handling Growth	-	-0.87%	89.66%	24.88%	2.15%	-6.92%
Rental Revenue, Shipping And Handling	8.84M	7.97M	14.41M	19.88M	25.21M	20.66M
Rental Revenue, Shipping And Handling Growth	-	-9.81%	80.84%	38.00%	26.81%	-18.07%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
UNITED STATES	257.3M	295.13M	1.15B	1.53B	1.82B	1.76B
UNITED STATES Growth	-	14.70%	289.22%	33.12%	18.79%	-3.37%
CANADA	5.71M	5.83M	18.47M	43.92M	48.63M	47.06M
CANADA Growth	-	2.14%	216.99%	137.78%	10.72%	-3.23%
MEXICO	1.03M	1.79M	-	-	-	-
MEXICO Growth	-	72.99%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Custom Truck One Source, Inc. (CTOS) reported $1.94B in revenue for fiscal year 2024.

Custom Truck One Source, Inc. (CTOS) saw revenue decline by 3.4% over the past year.

Custom Truck One Source, Inc. (CTOS) reported a net loss of $24.4M for fiscal year 2024.

Dividend & Returns

Custom Truck One Source, Inc. (CTOS) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.

Custom Truck One Source, Inc. (CTOS) had negative free cash flow of $123.9M in fiscal year 2024, likely due to heavy capital investments.