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Custom Truck One Source NYSE:CTOS Stock Report

Last Price


Market Cap







05 Oct, 2022


Company Financials +
CTOS fundamental analysis
Snowflake Score
Future Growth4/6
Past Performance0/6
Financial Health1/6

CTOS Stock Overview

Custom 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.

Custom Truck One Source Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Custom Truck One Source
Historical stock prices
Current Share PriceUS$6.22
52 Week HighUS$11.36
52 Week LowUS$4.54
1 Month Change-4.31%
3 Month Change20.54%
1 Year Change-30.74%
3 Year Change12.48%
5 Year Changen/a
Change since IPO-28.91%

Recent News & Updates

Sep 09
These 4 Measures Indicate That Custom Truck One Source (NYSE:CTOS) Is Using Debt Extensively

These 4 Measures Indicate That Custom Truck One Source (NYSE:CTOS) Is Using Debt Extensively

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Shareholder Returns

CTOSUS Trade DistributorsUS Market

Return vs Industry: CTOS underperformed the US Trade Distributors industry which returned -5.7% over the past year.

Return vs Market: CTOS underperformed the US Market which returned -18.2% over the past year.

Price Volatility

Is CTOS's price volatile compared to industry and market?
CTOS volatility
CTOS Average Weekly Movement5.4%
Trade Distributors Industry Average Movement6.0%
Market Average Movement7.0%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.9%

Stable Share Price: CTOS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: CTOS's weekly volatility (5%) has been stable over the past year.

About the Company

19881,800Fred Ross

Custom 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.

Custom Truck One Source Fundamentals Summary

How do Custom Truck One Source's earnings and revenue compare to its market cap?
CTOS fundamental statistics
Market CapUS$1.54b
Earnings (TTM)-US$13.89m
Revenue (TTM)US$1.44b


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CTOS income statement (TTM)
Cost of RevenueUS$1.12b
Gross ProfitUS$325.56m
Other ExpensesUS$339.44m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)-0.056
Gross Margin22.57%
Net Profit Margin-0.96%
Debt/Equity Ratio191.8%

How did CTOS perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is CTOS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 5/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CTOS?

Other financial metrics that can be useful for relative valuation.

CTOS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.2x
Enterprise Value/EBITDA23.3x
PEG Ration/a

Price to Sales Ratio vs Peers

How does CTOS's PS Ratio compare to its peers?

CTOS PS Ratio vs Peers
The above table shows the PS ratio for CTOS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average1.2x
BCC Boise Cascade
TGH Textainer Group Holdings
FTAI Fortress Transportation and Infrastructure Investors
CTOS Custom Truck One Source

Price-To-Sales vs Peers: CTOS is good value based on its Price-To-Sales Ratio (1.1x) compared to the peer average (1.2x).

Price to Earnings Ratio vs Industry

How does CTOS's PE Ratio compare vs other companies in the US Trade Distributors Industry?

Price-To-Sales vs Industry: CTOS is expensive based on its Price-To-Sales Ratio (1.1x) compared to the US Trade Distributors industry average (1x)

Price to Sales Ratio vs Fair Ratio

What is CTOS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CTOS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.1x
Fair PS Ratio1.1x

Price-To-Sales vs Fair Ratio: CTOS is good value based on its Price-To-Sales Ratio (1.1x) compared to the estimated Fair Price-To-Sales Ratio (1.1x).

Share Price vs Fair Value

What is the Fair Price of CTOS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CTOS ($6.22) is trading below our estimate of fair value ($10.07)

Significantly Below Fair Value: CTOS is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is Custom Truck One Source forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score


Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CTOS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: CTOS is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CTOS is expected to become profitable in the next 3 years.

Revenue vs Market: CTOS's revenue (8.4% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: CTOS's revenue (8.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CTOS's Return on Equity is forecast to be low in 3 years time (11.7%).

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Past Performance

How has Custom Truck One Source performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CTOS is currently unprofitable.

Growing Profit Margin: CTOS is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: CTOS is unprofitable, and losses have increased over the past 5 years at a rate of 49.2% per year.

Accelerating Growth: Unable to compare CTOS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CTOS is unprofitable, making it difficult to compare its past year earnings growth to the Trade Distributors industry (58.7%).

Return on Equity

High ROE: CTOS has a negative Return on Equity (-1.6%), as it is currently unprofitable.

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Financial Health

How is Custom Truck One Source's financial position?

Financial Health Score


Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: CTOS's short term assets ($782.8M) exceed its short term liabilities ($531.3M).

Long Term Liabilities: CTOS's short term assets ($782.8M) do not cover its long term liabilities ($1.4B).

Debt to Equity History and Analysis

Debt Level: CTOS's net debt to equity ratio (188.5%) is considered high.

Reducing Debt: Insufficient data to determine if CTOS's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CTOS has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if CTOS has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

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What is Custom Truck One Source current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Custom Truck One Source Dividend Yield vs Market
How does Custom Truck One Source dividend yield compare to the market?
SegmentDividend Yield
Company (Custom Truck One Source)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Trade Distributors)2.6%
Analyst forecast in 3 Years (Custom Truck One Source)0%

Notable Dividend: Unable to evaluate CTOS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CTOS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CTOS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CTOS's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CTOS has not reported any payouts.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Fred Ross (63 yo)





Mr. Fredrick M. Ross, Jr, also known as Fred, is the Owner of Custom Truck & Equipment, LLC and serves as its President. He serves as Chief Executive Officer and Director at Custom Truck One Source, Inc. (...

CEO Compensation Analysis

Fred Ross's Compensation vs Custom Truck One Source Earnings
How has Fred Ross's remuneration changed compared to Custom Truck One Source's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021US$7mUS$621k


Compensation vs Market: Fred's total compensation ($USD6.65M) is about average for companies of similar size in the US market ($USD5.48M).

Compensation vs Earnings: Insufficient data to compare Fred's compensation with company performance.

Leadership Team

Experienced Management: CTOS's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: CTOS's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NYSE:CTOS Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
16 May 22BuyUS$289,670Mark EinIndividual50,000US$5.79
13 May 22BuyUS$28,350Raymond BarrettIndividual5,000US$5.67
13 May 22BuyUS$2,079,747Mark EinIndividual351,903US$5.91
13 May 22BuyUS$227,200Marshall HeinbergIndividual40,000US$5.68
16 Feb 22SellUS$14,916,959Blackstone Inc.Company1,848,446US$8.07
13 Dec 21BuyUS$114,369Thomas RichIndividual15,000US$7.62
06 Dec 21BuyUS$76,209James CarlsenIndividual10,000US$7.80
22 Nov 21SellUS$101,079,202Blackstone Inc.Company12,322,975US$8.20

Ownership Breakdown

What is the ownership structure of CTOS?
Owner TypeNumber of SharesOwnership Percentage
General Public7,142,1892.9%
Individual Insiders10,372,8244.2%
VC/PE Firms174,338,98870.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 94.34% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
Platinum Equity, LLC
Energy Capital Partners, LLC
8,812,440$54.8m3.12%no data
Mark Ein
7,121,820$44.3m5.96%no data
Federated Hermes, Inc.
Gilder Gagnon Howe & Co. LLC
Alyeska Investment Group, L.P.
Hawkeye Capital Management, LLC
BlackRock, Inc.
3,458,238$21.5m3.62%no data
The Vanguard Group, Inc.
2,852,072$17.7m-0.5%no data
Canvas Wealth Advisors, LLC
Allspring Global Investments, LLC
ClearBridge Investments, LLC
Fredrick Ross
2,059,898$12.8m2.99%no data
Mirae Asset Global Investments Co., Ltd
Portolan Capital Management, LLC
Schroder Investment Management North America Inc.
ArrowMark Colorado Holdings, LLC
Geode Capital Management, LLC
954,654$5.9m2.23%no data
Strategic Advisers LLC
894,566$5.6m0%no data
State Street Global Advisors, Inc.
878,052$5.5m14.67%no data
Putnam LLC
Citadel Advisors LLC
R.P. Boggs & Co. Wealth Mangement
Managed Account Advisors LLC
566,022$3.5m-3.58%no data

Company Information

Custom Truck One Source, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Custom Truck One Source, Inc.
  • Ticker: CTOS
  • Exchange: NYSE
  • Founded: 1988
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Implied Market Cap: US$1.540b
  • Shares outstanding: 247.58m
  • Website:

Number of Employees


  • Custom Truck One Source, Inc.
  • 7701 Independence Avenue
  • Kansas City
  • Missouri
  • 64125
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CTOSNYSE (New York Stock Exchange)YesNew Common StockUSUSDAug 2019

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.