CTOS · Custom Truck One Source, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.94B | $1.80B | $1.87B | $1.57B | $1.17B | $302.74M |
| Cost of Revenue | $1.53B | $1.41B | $1.41B | $1.19B | $957.14M | $226.30M |
| Gross Profit | $411.89M | $390.27M | $454.26M | $383.75M | $210.01M | $76.44M |
| R&D | - | - | - | - | - | - |
| SG&A | $230.08M | $229.54M | $231.40M | $210.87M | $155.78M | $43.46M |
| Total Operating Expenses | $286.95M | $263.91M | $283.31M | $280.44M | $251.98M | $59.20M |
| D&A | $263.88M | $235.84M | $218.99M | $223.48M | $84.89M | $3.25M |
| Operating Income | $124.94M | $126.36M | $170.95M | $103.31M | ($41.97M) | $17.25M |
| Interest Expense | - | - | $36.60M | $12.60M | $5.20M | - |
| Income Tax | $2.92M | ($532.0K) | $7.36M | $7.83M | $4.42M | ($30.07M) |
| Net Income | ($31.05M) | ($28.66M) | $50.71M | $38.91M | ($181.50M) | ($21.28M) |
| EPS - Basic | ($0.14) | ($0.12) | $0.21 | $0.16 | ($0.43) | - |
| EPS - Diluted | ($0.14) | ($0.12) | $0.21 | $0.16 | ($0.43) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.27M | $3.81M | $10.31M | $14.36M | $35.90M | $3.41M |
| Accounts Receivable | $195.54M | $215.87M | $215.09M | $193.11M | $168.39M | $60.93M |
| Inventory | $930.94M | $1.05B | $985.79M | $596.72M | $410.54M | $31.37M |
| Accounts Payable | $88.37M | $88.49M | $117.65M | $87.25M | $91.12M | $31.83M |
| Current Assets | $1.16B | $1.30B | $1.27B | $868.25M | $656.70M | $103.24M |
| Total Assets | $3.44B | $3.50B | $3.37B | $2.94B | $2.68B | $768.40M |
| Current Liabilities | $873.33M | $1.00B | $897.39M | $634.88M | $440.58M | $71.35M |
| Long-term Debt | $1.62B | $1.52B | $1.49B | $1.35B | $1.31B | $715.86M |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $809.10M | $861.31M | $917.20M | $888.44M | $858.51M | ($31.07M) |
| Retained Earnings | ($617.58M) | ($586.53M) | ($557.87M) | ($608.59M) | ($647.49M) | ($465.99M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $310.11M | $121.98M | ($30.88M) | $45.97M | $138.93M | $42.83M |
| Investing Cash Flow | ($282.46M) | ($187.49M) | ($176.60M) | ($218.94M) | ($1.43B) | ($29.31M) |
| Financing Cash Flow | ($25.27M) | $58.28M | $202.88M | $153.90M | $1.32B | ($16.41M) |
| CapEx | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 21.2% | 21.7% | 24.4% | 24.4% | 18.0% | 25.3% |
| Operating margin | 6.4% | 7.0% | 9.2% | 6.6% | -3.6% | 5.7% |
| EBITDA margin | 20.0% | 20.1% | 20.9% | 20.8% | 3.7% | 6.8% |
| Net margin | -1.6% | -1.6% | 2.7% | 2.5% | -15.6% | -7.0% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 11.8% | 12.7% | 12.4% | 13.4% | 13.3% | 14.4% |
| Effective tax rate | - | - | 12.7% | 16.7% | - | - |
| Return on assets | -0.9% | -0.8% | 1.5% | 1.3% | -6.8% | -2.8% |
| Return on equity | -3.8% | -3.3% | 5.5% | 4.4% | -21.1% | 68.5% |
| Return on invested capital | 4.1% | 4.2% | 6.2% | 3.8% | -1.5% | 2.0% |
| Liquidity | ||||||
| Current ratio | 1.33 | 1.30 | 1.41 | 1.37 | 1.49 | 1.45 |
| Quick ratio | 0.26 | 0.25 | 0.31 | 0.43 | 0.56 | 1.01 |
| Cash ratio | 0.01 | 0.00 | 0.01 | 0.02 | 0.08 | 0.05 |
| Leverage | ||||||
| Debt / Equity | 2.00 | 1.76 | 1.62 | 1.52 | 1.52 | -23.04 |
| Debt / Assets | 0.47 | 0.43 | 0.44 | 0.46 | 0.49 | 0.93 |
| Debt / EBITDA | 4.16 | 4.20 | 3.81 | 4.15 | 30.48 | 34.93 |
| Interest coverage | - | - | 4.7x | 8.2x | -8.1x | - |
| Equity multiplier | 4.25 | 4.07 | 3.67 | 3.31 | 3.13 | -24.73 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.56 | 0.51 | 0.55 | 0.54 | 0.43 | 0.39 |
| Inventory turnover | 1.65 | 1.35 | 1.43 | 1.99 | 2.33 | 7.21 |
| Days sales outstanding | 37d | 44d | 42d | 45d | 53d | 73d |
| Days inventory outstanding | 222d | 271d | 255d | 183d | 157d | 51d |
| Days payable outstanding | 21d | 23d | 30d | 27d | 35d | 51d |
| Cash conversion cycle | 237d | 292d | 267d | 201d | 174d | 73d |
| Valuation | ||||||
| P / E | - | - | 29.4x | 39.5x | - | - |
| P / B | 1.6x | 1.3x | 1.7x | 1.8x | 0.5x | - |
| P / S | 0.7x | 0.6x | 0.8x | 1.0x | 0.3x | - |
| EV / EBITDA | 7.5x | 7.3x | 7.7x | 8.9x | 38.8x | - |
| Growth | ||||||
| Revenue growth (YoY) | 7.9% | -3.4% | 18.6% | 34.8% | 285.5% | 22.9% |
| Revenue CAGR (3y) | 7.3% | 15.6% | 83.3% | 85.5% | - | - |
| Revenue CAGR (5y) | 45.1% | 48.9% | - | - | - | - |
| Gross profit growth (YoY) | 5.5% | -14.1% | 18.4% | 82.7% | 174.7% | -11.7% |
| Operating income growth (YoY) | -1.1% | -26.1% | 65.5% | - | - | -52.1% |
| Net income growth (YoY) | -8.4% | - | 30.3% | - | -753.0% | 21.3% |
| EPS growth (YoY) | -16.7% | - | 31.2% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -6.1% | -6.1% | 3.2% | 3.5% | - | 73.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.94B totalTruck And Equipment Sales Segment$1.10B · 56.3%
Equipment Rental Solutions Segment$701.04M · 36.1%
Aftermarket Parts And Services Segment$147.68M · 7.6%
Product / service
$5.22B totalSales And Services$1.44B · 27.5%
Equipment Sales$1.30B · 25.0%
Sales And Services Equipment Sales$1.30B · 25.0%
Rental Revenue$506.20M · 9.7%
Rental Revenue Excluding Shipping And Handling$480.59M · 9.2%
Sales And Services Parts And Services$133.28M · 2.6%
Sales And Services Parts And Services Services To Customers$31.00M · 0.6%
Rental Revenue Shipping And Handling$25.60M · 0.5%
Geographic
$1.94B totalUS$1.90B · 98.0%
CA$39.60M · 2.0%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Equipment Rental & Leasing, NEC
Comparing Custom Truck One Source against the 5 most active filers in the same SIC group.