Custom Truck One Source, Inc. (CTOS) Stock

Custom Truck One Source, Inc. (CTOS) is a Technology stock trading at $9.81 (as of 2026-08-20), with a market capitalization of $2.23B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Custom Truck One Source, Inc. rents specialty trucks and equipment and provides related aftermarket parts and services, serving electric utility transmission and distribution, telecommunications, rail, and other infrastructure-related industries in North America. It operates through Equipment Rental Solutions, Truck and Equipment Sales, and Aftermarket Parts and Services segments.

Understand Custom Truck One Source, Inc.: how it makes money

Custom Truck One Source provides specialty equipment rental and equipment sales for electric utility transmission and distribution, telecommunications, rail, and other infrastructure-related industries in North America. It makes money through Equipment Rental Solutions, Truck and Equipment Sales, and Aftermarket Parts and Services.

CTOS is a specialty infrastructure equipment monetization platform, it owns and rents equipment (rental revenue) and also sells specialty trucks and equipment (plus aftermarket parts and services), so earnings depend on how both rental activity and sales volumes perform in its infrastructure end markets.

Revenue by segment (latest quarter)
Rental	$0.2B
Sales	$0.3B

Business quality (Weak): The business model combines rental and sales in infrastructure end markets, and the latest reported margins shown are gross margin 22.3% and operating margin 6.8% (2026-03-31). The key investor question is whether rental and sales demand remain healthy enough to sustain operating profitability.

Bull case

Multiple ways to monetize specialty equipment: The company operates through Equipment Rental Solutions and Truck and Equipment Sales, and it also includes Aftermarket Parts and Services, giving it several revenue streams tied to customers' equipment needs.
Infrastructure-focused customer base: The company serves electric utility transmission and distribution, telecommunications, rail, and other infrastructure-related industries, aligning its equipment offering with recurring project and maintenance needs in these sectors.

Bear case

Sensitivity to demand in equipment-driven end markets: Because the company provides specialty rentals and equipment sales into infrastructure-related industries, downturns or delays in those industries can reduce rental activity and equipment purchases.
Operating profitability is not high: The latest reported operating margin is 6.8% (2026-03-31), so profitability may be vulnerable if costs rise faster than revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$9.81
Market Cap	$2.23B
EV / EBITDA	6.4
Price / Book	2.74
Price / Sales	1.13
DCF Value (model)	$9.96
DCF Upside vs Price	1.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.94B
Net Margin	-1.6%
Revenue Growth (YoY)	7.9%
EPS Growth (YoY)	16.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.04 (distress)
Piotroski F-Score	4/9 (moderate)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	30.0

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	Platinum Equity Advisors, LLC/DE ($1.03B)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Ryan McMonagle
Employees	2,619
Country	US
IPO Date	2017-10-09

Related Companies (Business model: Specialty Finance / Lending; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.