CTOS (Custom Truck One Source) Piotroski F-Score: 7 (As of Jun. 26, 2026) — 40% Above Median


CTOS Custom Truck One Source Inc CTOS
67 GF Score
Price $11.97
GF Value $6.39
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is Custom Truck One Source Piotroski F-Score?

Custom Truck One Source CTOS +5.00% 67 Piotroski F-Score is 7 as of Jun. 26, 2026, which is 40% above its 10-year median of 5.00. GuruFocus rates CTOS with a GF Score™ of 67/100 and a GF Value™ of $6.39 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,063 Business Services companies, Custom Truck One Source ranks better than 89.09% on this metric.

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Custom Truck One Source has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Custom Truck One Source's Piotroski F-Score or its related term are showing as below:

CTOS' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 7

During the past 9 years, the highest Piotroski F-Score of Custom Truck One Source was 8. The lowest was 2. And the median was 5.

Custom Truck One Source  (NYSE:CTOS) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Custom Truck One Source Piotroski F-Score Related Terms


Custom Truck One Source Piotroski F-Score Historical Data

* Premium members only.

The historical data trend for Custom Truck One Source's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Custom Truck One Source Piotroski F-Score Chart

Custom Truck One Source Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 5.00 6.00 6.00 4.00 5.00

Custom Truck One Source Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 3.00 4.00 5.00 7.00

CTOS vs HTZ, VSTS, MGRC: Piotroski F-Score Comparison

For the Rental & Leasing Services subindustry, Custom Truck One Source's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Custom Truck One Source Piotroski F-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Custom Truck One Source's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Custom Truck One Source's Piotroski F-Score falls into.


CTOS
67GF Score
Custom Truck One Source Inc CTOS
Piotroski F-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Net Income was -28.38 + -5.756 + 20.875 + -4.102 = $-17 Mil.
Cash Flow from Operations was 125.718 + 81.451 + 47.308 + 23.815 = $278 Mil.
Revenue was 511.483 + 482.058 + 528.184 + 461.622 = $1,983 Mil.
Gross Profit was 102.542 + 100.753 + 123.061 + 103.063 = $429 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(3542.908 + 3576.924 + 3540.707 + 3441.454 + 3547.306) / 5 = $3529.8598 Mil.
Total Assets at the begining of this year (Mar25) was $3,543 Mil.
Long-Term Debt & Capital Lease Obligation was $1,735 Mil.
Total Current Assets was $1,262 Mil.
Total Current Liabilities was $973 Mil.
Net Income was -24.478 + -17.416 + 27.574 + -17.791 = $-32 Mil.

Revenue was 423.013 + 447.22 + 520.74 + 422.232 = $1,813 Mil.
Gross Profit was 89.267 + 91.829 + 118.465 + 85.536 = $385 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(3450.515 + 3523.568 + 3579.94 + 3501.967 + 3542.908) / 5 = $3519.7796 Mil.
Total Assets at the begining of last year (Mar24) was $3,451 Mil.
Long-Term Debt & Capital Lease Obligation was $1,682 Mil.
Total Current Assets was $1,320 Mil.
Total Current Liabilities was $1,024 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Custom Truck One Source's current Net Income (TTM) was -17. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Custom Truck One Source's current Cash Flow from Operations (TTM) was 278. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar25)
=-17.363/3542.908
=-0.00490078

ROA (Last Year)=Net Income/Total Assets (Mar24)
=-32.111/3450.515
=-0.00930615

Custom Truck One Source's return on assets of this year was -0.00490078. Custom Truck One Source's return on assets of last year was -0.00930615. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Custom Truck One Source's current Net Income (TTM) was -17. Custom Truck One Source's current Cash Flow from Operations (TTM) was 278. ==> 278 > -17 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar26)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar25 to Mar26
=1735.237/3529.8598
=0.49158808

Gearing (Last Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=1681.957/3519.7796
=0.47785861

Custom Truck One Source's gearing of this year was 0.49158808. Custom Truck One Source's gearing of last year was 0.47785861. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar26)=Total Current Assets/Total Current Liabilities
=1262.233/972.762
=1.29757639

Current Ratio (Last Year: Mar25)=Total Current Assets/Total Current Liabilities
=1320.373/1024.251
=1.28911077

Custom Truck One Source's current ratio of this year was 1.29757639. Custom Truck One Source's current ratio of last year was 1.28911077. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Custom Truck One Source's number of shares in issue this year was 226.628. Custom Truck One Source's number of shares in issue last year was 228.276. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=429.419/1983.347
=0.21651229

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=385.097/1813.205
=0.2123847

Custom Truck One Source's gross margin of this year was 0.21651229. Custom Truck One Source's gross margin of last year was 0.2123847. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar25)
=1983.347/3542.908
=0.55980765

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar24)
=1813.205/3450.515
=0.52548822

Custom Truck One Source's asset turnover of this year was 0.55980765. Custom Truck One Source's asset turnover of last year was 0.52548822. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+1+1+0+1+1+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Custom Truck One Source has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Frequently Asked Questions Learn more about Piotroski F-Score →
What does a Piotroski F-Score of 7 mean?
Custom Truck One Source (CTOS) has a Piotroski F-Score of 7 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Custom Truck One Source and its competitors. This is 40% above median its historical median of 5.00. Over the past decade, Custom Truck One Source's Piotroski F-Score has ranged from 2.00 to 8.00. According to the industry distribution chart, Custom Truck One Source ranks #116 out of 1063 companies in the Business Services industry, placing it in the top 10.9%.
Is Custom Truck One Source's Piotroski F-Score too high?
Custom Truck One Source's current Piotroski F-Score of 7 is 40% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 8.00. The Business Services industry median Piotroski F-Score is 5.00. Custom Truck One Source's value of 7 is 40% above this industry median. Based on the distribution chart, Custom Truck One Source ranks #116 out of 1063 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Custom Truck One Source has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Custom Truck One Source's Piotroski F-Score compare to HTZ and VSTS?
According to the Business Services industry distribution chart, Custom Truck One Source ranks #116 out of 1063 companies for Piotroski F-Score. This places Custom Truck One Source in the top 11% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Custom Truck One Source's value of 7 is 40% above this benchmark. Historically, Custom Truck One Source's own Piotroski F-Score has ranged from 2.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Custom Truck One Source has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Business Services company?
The median Piotroski F-Score among Business Services companies is 5.00, based on 1,063 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Custom Truck One Source's current Piotroski F-Score of 7 is 40% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Custom Truck One Source and its competitors. For the Business Services industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Custom Truck One Source's current Piotroski F-Score is 7, which is 40% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Custom Truck One Source stock overvalued right now?
Based on GuruFocus' analysis, Custom Truck One Source (CTOS) is currently considered Significantly Overvalued. The stock's GF Value™ is $6.39, compared to a current price of $11.97 — trading 87.3% above its estimated fair value. The current Piotroski F-Score is 7, which is 40% above median its 10-year median of 5.00 and 40% above the Business Services industry median of 5.00. Custom Truck One Source's overall GF Score™ is 67/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Custom Truck One Source (CTOS), the current Piotroski F-Score is 7 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Custom Truck One Source (CTOS) Overvalued in 2026?

Based on GuruFocus' analysis, Custom Truck One Source stock appears to be overvalued. The current stock price of $11.97 is trading 87.3% above its estimated GF Value™ of $6.39. GuruFocus considers Custom Truck One Source to be Significantly Overvalued.

Key valuation signals for CTOS:

  • Piotroski F-Score: 7 (40% above median its 10-year median of 5.00)
  • GF Value™: $6.39 vs. price of $11.97 (87.3% above fair value)
  • GF Score™: 67/100 with 9 warning signs
  • Industry Position: 40% above the Business Services median (#116 of 1063)

No single metric tells the full story. See the CTOS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Custom Truck One Source Business Description

Other Exchanges 65W0:Germany
Address 7701 Independence Avenue, Kansas, MO, USA, 64125
Custom Truck One Source Inc is a one-stop-shop provider of specialty equipment in the electric utility transmission and distribution, forestry, telecom, waste management, rail, and infrastructure end-markets in North America. The company's segment includes Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS). It generates maximum revenue from the TES segment. Geographically, it derives a majority revenue from the United States.
67GF Score

Get the complete analysis for CTOS

Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$11.97
Price
$6.39
GF Value