Custom Truck One Source, Inc. (CTOS)
Custom Truck One Source, Inc. (CTOS) specializes in providing comprehensive services for specialty equipment across North America, serving crucial industries such as electric utility (transmission and distribution), telecommunications, rail, and other infrastructure development sectors. The company's operations are structured into three primary segments: Equipment Rental Solutions, Truck and Equipment Sales, and Aftermarket Parts and Services. Within its Equipment Rental Solutions division, CTOS offers access to a wide array of new and pre-owned specialized machinery for hire, including truck-mounted aerial lifts, various types of cranes, service vehicles, dump trucks, trailers, and digger derricks. The Truck and Equipment Sales segment focuses on the direct sale of new equipment, which can be extensively customized to meet the specific demands of its diverse clientele. Furthermore, the Aftermarket Parts and Services segment ensures ongoing support through equipment maintenance and repair services, along with the provision of specialized replacement parts. Originally founded in 1988 as Nesco Holdings, Inc., the company officially changed its name to Custom Truck One Source, Inc. in April 2021 and maintains its corporate headquarters in Kansas City, Missouri.
Sector: Services-Equipment Rental & Leasing, NEC
Industry: Rental & Leasing Services
Custom Truck One Source, Inc.
NYSE:CTOSIndustrials · Rental & Leasing Services
+2.14%$9.06
AH Close$9.06+0.00%vs close
AH Close$9.06+0.00%vs close
Mkt Cap$2.06B
Float60.06M
O/S227.51M
Inst Own97.8%
SI6.8%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$1.94B
Net Income-$31.05M
Total Assets$3.74B
Free Cash Flow-$107.59M
Debt & Equity
Debt 75%
Equity 25%
Total Debt$2.42B
Total Equity$809.1M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in CTOS's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$3.74B
Liabilities$2.93B
Accounts Receivable$204.39M
Accounts Payable$88.37M
Inventory$930.94M
PP&E (Net)$1.34B
Goodwill$705.17M
Intangible Assets$225.72M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Revenue | $1.94B | $1.8B | $1.87B | $1.57B | $1.17B | $302.74M | $264.04M | $246.3M | $0 | $187.1M |
| YoY Growth | 7.9% | -3.4% | 18.6% | 34.8% | 285.5% | 14.7% | 7.2% | - | - | - |
| Cost of Revenue | $1.58B | $1.46B | $1.46B | $1.23B | $1B | $226.3M | $180.61M | $167.72M | $0 | $157.51M |
| Gross Profit | $367.36M | $343.43M | $410.09M | $340.39M | $165.65M | $76.44M | $83.43M | $78.57M | $0 | $29.59M |
| Gross Margin | 18.9% | 19.1% | 22.0% | 21.6% | 14.2% | 25.3% | 31.6% | 31.9% | - | 15.8% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $225.78M | $222.64M | $225M | $210.87M | $155.78M | $46.41M | $34.67M | $32.72M | $777K | $25.17M |
| Other | $0 | $0 | $0 | $0 | $0 | $12.79M | $4.44M | -$2.25M | $0 | $0 |
| Total Operating Expenses | $225.78M | $222.64M | $225M | $210.87M | $155.78M | $59.2M | $39.11M | $34.97M | $777K | $28.08M |
| Operating Income (EBIT) | $141.58M | $120.78M | $185.09M | $129.53M | $9.86M | $17.25M | $44.32M | $43.6M | -$777K | $1.57M |
| Operating Margin | 7.3% | 6.7% | 9.9% | 8.2% | 0.8% | 5.7% | 16.8% | 17.7% | - | 0.8% |
| Interest Expense | $157.62M | $167.1M | $131.31M | $88.91M | $72.84M | $63.2M | $63.36M | $63.38M | $0 | $0 |
| Interest Income | $0 | $11.55M | $18.44M | $0 | $0 | $0 | $63.36M | $6.68M | $0 | $48.2M |
| Other Income (Expense) | -$169.71M | -$149.97M | -$127.02M | -$82.79M | -$186.94M | -$68.6M | -$77.35M | -$57.42M | $0 | -$48.01M |
| Income Before Tax (EBT) | -$28.13M | -$29.19M | $58.08M | $46.73M | -$177.08M | -$51.35M | -$33.04M | $5.17M | -$777K | -$46.7M |
| Income Tax Expense | $2.92M | -$532K | $7.36M | $7.83M | $4.42M | -$30.07M | -$5.99M | -$13.46M | $0 | $1.33M |
| Net Income | -$31.05M | -$28.66M | $50.71M | $38.91M | -$181.5M | -$21.28M | -$27.05M | $5.17M | -$777K | -$48.03M |
| Net Income Margin | -1.6% | -1.6% | 2.7% | 2.5% | -15.6% | -7.0% | -10.2% | 2.1% | - | -25.7% |
| Supplementary Data | ||||||||||
| EPS | -0.14 | -0.12 | 0.21 | 0.16 | -0.75 | -0.43 | -0.82 | 0.43 | -0.07 | -4.76 |
| Diluted EPS | -0.14 | -0.12 | 0.21 | 0.16 | -0.75 | -0.43 | -0.82 | 0.43 | -0.07 | -4.76 |
| Weighted Average OS | 226.56M | 234.44M | 245.09M | 247.15M | 241.37M | 245.32M | 165.33M | 199.55M | 199.55M | 199.55M |
| EBITDA | $397.67M | $380.66M | $414.78M | $359.12M | $104.84M | $111.67M | $104.88M | $110.02M | -$777K | $4.38M |
| EBITDA Margin | 20.5% | 21.1% | 22.2% | 22.8% | 9.0% | 36.9% | 39.7% | 44.7% | - | 2.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $6.27M | $3.81M | $10.31M | $14.36M | $35.9M | $3.41M | $6.3M | $468K | $502K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $6.27M | $3.81M | $10.31M | $14.36M | $35.9M | $3.41M | $6.3M | $468K | $502K |
| Accounts Receivable | $204.39M | $224.79M | $245.93M | $231.38M | $197.04M | $60.93M | $71.32M | $52.56M | $0 |
| Inventory | $930.94M | $1.05B | $985.79M | $596.72M | $410.54M | $31.37M | $33M | $11.44M | $8.04M |
| Other Current Assets | $17.01M | $23.56M | $23.86M | $25.78M | $0 | $0 | $0 | -$63.99M | $0 |
| Total Current Assets | $1.16B | $1.3B | $1.27B | $868.25M | $656.7M | $103.24M | $115.84M | $470K | $609K |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $1.34B | $1.23B | $1.1B | $1.04B | $978.95M | $342.08M | $389.98M | $323.49M | $2.62M |
| Goodwill | $705.17M | $704.81M | $704.01M | $703.83M | $695.87M | $238.05M | $238.19M | $228.71M | $227.53M |
| Intangible Assets | $225.72M | $252.39M | $277.21M | $304.13M | $327.84M | $67.58M | $70.55M | $70.74M | $71.34M |
| Long-Term Investments | $0 | $0 | $0 | $0 | -$16K | $0 | $0 | $0 | $402.5M |
| Deferred Tax Assets | $295.03M | $0 | $0 | $0 | $16K | $16.95M | $0 | $0 | -$703.98M |
| Other Long-Term Assets | $11.82M | $16.05M | $23.43M | $26.94M | $24.41M | $498K | $713K | -$215.21M | $402.5M |
| Total Long-Term Assets | $2.58B | $2.2B | $2.1B | $2.07B | $2.03B | $665.16M | $699.44M | $407.73M | $402.5M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $3.74B | $3.5B | $3.37B | $2.94B | $2.68B | $768.4M | $815.28M | $408.2M | $403.11M |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $88.37M | $88.49M | $117.65M | $87.25M | $91.12M | $31.83M | $41.17M | $20.87M | $0 |
| Short-Term Debt | $683.28M | $809.17M | $670.57M | $437.11M | $244.31M | $1.28M | $1.28M | $0 | $1.58M |
| Current Income Tax Payable | $0 | $5.27M | $8.83M | $8.53M | $5.75M | $1.7M | $1.44M | $0 | $0 |
| Current Unearned Revenue | $23.5M | $26.25M | $28.76M | $34.67M | $35.79M | $975K | $2.27M | $4.76M | -$24.24M |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$20.78M | -$26.8M |
| Total Current Liabilities | $873.33M | $1B | $897.39M | $634.88M | $440.58M | $71.35M | $77.76M | $91K | $176K |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $1.62B | $1.52B | $1.49B | $1.35B | $1.31B | $715.86M | $713.02M | $0 | $777.92M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $16K | $0 | $0 | $14.09M | $0 |
| Long-Term Deferred Tax Liabilities | $328.79M | $31.4M | $33.35M | $29.09M | $15.62M | $0 | $12.29M | $11.19M | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $3.02M | $24.15M | $7.01M | $1.71M | -$14.33M | -$787.11M |
| Total Long-Term Liabilities | $2.05B | $1.64B | $1.55B | $1.41B | $1.38B | $728.12M | $749.65M | $14.09M | $14.09M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.93B | $2.64B | $2.45B | $2.05B | $1.83B | $799.47M | $827.41M | $14.18M | $14.26M |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $396K | $187 |
| Common Stock | $25K | $25K | $25K | $25K | $25K | $5K | $5K | $389.02M | $383.85M |
| Retained Earnings | -$617.58M | -$586.53M | -$557.87M | -$608.59M | -$647.49M | -$465.99M | -$444.71M | $4.4M | -$777K |
| Comprehensive Income & Other | -$10.61M | -$14.74M | -$5.98M | -$8.95M | $0 | $0 | $0 | -$396K | $0 |
| Other Stockholders' Equity | $1.43B | $1.45B | $1.48B | $1.5B | $1.51B | $434.92M | $432.58M | $602K | $5.78M |
| Total Equity | $809.1M | $861.31M | $917.2M | $888.44M | $858.51M | -$31.07M | -$12.13M | $394.02M | $388.84M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $3.74B | $3.5B | $3.37B | $2.94B | $2.68B | $768.4M | $815.28M | $408.2M | $403.11M |
| Supplementary Data | |||||||||
| Total Debt | $2.42B | $2.43B | $2.2B | $1.83B | $1.6B | $727.66M | $742.38M | $792.69M | $779.5M |
| Net Debt | $2.41B | $2.42B | $2.19B | $1.81B | $1.56B | $724.25M | $736.08M | $792.22M | $779M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | -$31.05M | -$28.66M | $50.71M | $38.91M | -$181.5M | -$21.28M | -$27.05M | $5.17M | -$777K | -$48.03M |
| Depreciation & Amortization | $268.18M | $242.74M | $225.39M | $223.48M | $209.07M | $84.89M | $74.56M | $67.14M | $0 | $2.82M |
| Deferred Income Tax | $2.08M | -$1.66M | $4.24M | $7.39M | $3.86M | -$28.81M | -$6.86M | $1.1M | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $12.3M | $17.31M | $0 | $0 | $0 | $0 | $541K |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | $15.64M | -$21.75M | -$20.88M | -$36.82M | -$37.72M | $7.06M | -$17.07M | -$5.18M | $0 | -$7.04M |
| Inventory | $121.12M | -$64.86M | -$388.06M | -$194.69M | $46.57M | -$9.64M | -$22.68M | -$8.02M | $0 | -$897K |
| Accounts Payable | -$660K | -$27.48M | $28.34M | -$5.59M | $8.06M | $3.11M | $7.55M | -$4.31M | $0 | $0 |
| Other Working Capital | $6.07M | -$5.05M | $1.93M | -$4.93M | $19.44M | $776K | $632K | -$914K | $70K | $639K |
| Total Working Capital Change | $142.17M | -$119.14M | -$378.67M | -$242.03M | $36.36M | $1.31M | -$31.58M | -$18.43M | $70K | -$7.29M |
| Other Non-Cash Items | -$31.98M | -$48.59M | -$49.12M | -$57.99M | $72.09M | $6.44M | -$5.76M | $5.12M | $0 | $70.08M |
| Net Cash from Operating | $349.39M | $44.68M | -$147.45M | -$17.95M | $157.2M | $42.55M | $3.3M | $39.4M | -$708K | $18.12M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$488.54M | $0 | -$134.63M | -$340.79M | -$188.39M | -$68.42M | -$109.71M | -$59.23M | -$20.89M | -$1.53M |
| Acquisitions | $206.08M | -$6.01M | $0 | -$49.83M | -$1.34B | $34.92M | -$48.42M | $31.8M | -$478K | -$9.7M |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$402.5M | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | -$181.47M | -$41.97M | $171.69M | $96.59M | $4.18M | $28.45M | $1.5M | $0 | $75K |
| Net Cash from Investing | -$282.46M | -$187.49M | -$176.6M | -$218.94M | -$1.43B | -$29.31M | -$129.68M | $1.5M | -$402.5M | -$11.15M |
| Financing Activities | ||||||||||
| Debt Repaid | -$113.11M | -$26.63M | -$125.35M | -$37.72M | -$549.29M | $16.13M | $16.73M | $10.78M | - | $8.27M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $883M | $0 | $0 | $0 | $403.71M | $0 |
| Common Stock Repurchases | -$32.58M | -$28.98M | -$38.84M | -$10.28M | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$1.18M | -$1.08M | $792K | -$1.84M | -$54.12M | $0 | $147.27M | $0 | $0 | -$229K |
| Net Cash from Financing | -$64.55M | $135.58M | $319.44M | $217.82M | $1.3B | -$16.13M | $130.54M | -$10.78M | $403.71M | -$8.5M |
| Forex Effect | $87K | $713K | $554K | -$2.47M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $2.47M | -$6.5M | -$4.05M | -$21.54M | $32.49M | -$2.89M | $4.16M | -$34K | -$822K | -$1.53M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | $349.39M | $44.68M | -$147.45M | -$17.95M | $157.2M | $42.55M | $3.3M | $39.4M | -$708K | $18.12M |
| Capital Expenditure | -$456.98M | -$398.32M | -$364.19M | -$340.79M | -$188.39M | -$68.42M | -$109.71M | -$59.23M | $0 | -$1.53M |
| Free Cash Flow | -$107.59M | -$353.63M | -$511.64M | -$358.74M | -$31.19M | -$25.87M | -$106.4M | -$19.84M | -$708K | $16.59M |
| Cash at Beginning | $3.81M | $10.31M | $14.36M | $35.9M | $3.41M | $6.3M | $2.14M | $502K | $1.32M | $2.86M |
| Cash at End | $6.27M | $3.81M | $10.31M | $14.36M | $35.9M | $3.41M | $6.3M | $468K | $502K | $1.32M |