Custom Truck One Source (NYSE: CTOS) is a specialty equipment rental and sales company that provides truck-mounted aerial lifts, cranes, digger derricks, service trucks, trailers, and related machinery to infrastructure service providers across North America. Revenue comes from three streams: equipment sales (67.1% of FY2025 revenue at $1.30B), rental revenue (26.0% at $506.2M), and parts sales and services (6.9% at $133.3M), totaling $1.94B for the year ended December 31, 2025. The company operates across electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and general infrastructure end markets, serving utilities and contractors who maintain, repair, upgrade, and install critical infrastructure assets. As of December 31, 2025, the rental fleet comprised more than 10,400 units. The company was formed under its current name following the April 1, 2021 acquisition of Custom Truck One Source, L.P. by Nesco Holdings, Inc., which simultaneously rebranded and changed its NYSE ticker from NSCO to CTOS.

Revenue model

Transactional and rental model across three segments: equipment rental (fixed-period contracts with optional rental purchase options that credit rental payments toward a declining buyout price), outright equipment sales of new and used units from rental fleet inventory, and parts sales plus repair and customization services. FY2025 total revenue was $1.94B, with equipment sales at 67.1%, rental revenue at 26.0%, and parts and services at 6.9%.

Products and services

Truck-mounted specialty equipment including bucket trucks, digger derricks, boom trucks, knuckleboom trucks, rail trucks, roll-off trucks, vacuum trucks, cranes, cable placers, underground equipment, and pole trailers. Also offers aftermarket parts, repair and maintenance services, customization of heavy-duty trucks, tool testing and inspection, and personal protective equipment compliance services. Rental purchase options (RPOs) available on select units.

Customers and end markets

Utilities and infrastructure contractors across electric utility transmission and distribution, telecommunications, rail, commuter transit, forestry, waste management, and general infrastructure (surface transportation, highway, water, residential and non-residential waste). Customer base includes both end-user buyers of used equipment and rental customers preferring capital flexibility.

Value-chain role

Specialty equipment owner, lessor, and distributor sitting between original equipment manufacturers and infrastructure service contractors. Also performs downstream customization, repair, and parts supply, functioning as a one-stop platform for equipment access, maintenance, and disposal.

Geographic exposure

North America, as described in the 10-K filed March 10, 2026. No country-level revenue breakdown disclosed in the excerpts.

Source: SEC 10-K, filed 2026-03-10

Industry: Services-Equipment Rental & Leasing, NEC Peers: Boise Cascade Co Fastenal Co FTAI Aviation Ltd Global Industrial Co GMS Inc. Herc Holdings Inc McGrath RentCorp DNOW Inc Rush Enterprises Inc Veritiv Corp