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The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Warning Sign:
Altman Z-score of 0.76 is in distress zone. This implies bankruptcy possibility in the next two years.
Custom Truck One Source has a Altman Z-Score of 0.76, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Custom Truck One Source's Altman Z-Score or its related term are showing as below:
During the past 8 years, Custom Truck One Source's highest Altman Z-Score was 22.31. The lowest was -0.33. And the median was 0.77.
The historical data trend for Custom Truck One Source's Altman Z-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 Annual Data | |||||||||||||||||
Trend | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||
Altman Z-Score | Get a 7-Day Free Trial | -0.08 | 0.72 | 0.95 | 1.00 | 0.77 |
Custom Truck One Source Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Altman Z-Score | Get a 7-Day Free Trial |
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1.00 | 0.90 | 0.75 | 0.66 | 0.77 |
For the Rental & Leasing Services subindustry, Custom Truck One Source's Altman Z-Score, along with its competitors' market caps and Altman Z-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.
For the Business Services industry and Industrials sector, Custom Truck One Source's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Custom Truck One Source's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Custom Truck One Source's Altman Z-Score for today is calculated with this formula:
Z | = | 1.2 | * | X1 | + | 1.4 | * | X2 | + | 3.3 | * | X3 | + | 0.6 | * | X4 | + | 1.0 | * | X5 |
= | 1.2 | * | 0.0859 | + | 1.4 | * | -0.1675 | + | 3.3 | * | 0.0394 | + | 0.6 | * | 0.4033 | + | 1.0 | * | 0.5146 | |
= | 0.76 |
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Trailing Twelve Months (TTM) ended in Dec. 2024:
Total Assets was $3,502 Mil.
Total Current Assets was $1,301 Mil.
Total Current Liabilities was $1,001 Mil.
Retained Earnings was $-587 Mil.
Pre-Tax Income was 26.524 + -18.02 + -21.408 + -16.283 = $-29 Mil.
Interest Expense was -42.914 + -43.875 + -42.401 + -37.915 = $-167 Mil.
Revenue was 520.74 + 447.22 + 423.013 + 411.307 = $1,802 Mil.
Market Cap (Today) was $1,065 Mil.
Total Liabilities was $2,641 Mil.
* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.
X1 | = | Working Capital | / | Total Assets |
= | (Total Current Assets - Total Current Liabilities) | / | Total Assets | |
= | (1301.452 - 1000.701) | / | 3501.967 | |
= | 0.0859 |
X2 | = | Retained Earnings | / | Total Assets |
= | -586.528 | / | 3501.967 | |
= | -0.1675 |
X3 | = | Earnings Before Interest and Taxes | / | Total Assets |
= | (Pre-Tax Income - Interest Expense) | / | Total Assets | |
= | (-29.187 - -167.105) | / | 3501.967 | |
= | 0.0394 |
X4 | = | Market Value Equity | / | Book Value of Total Liabilities |
= | Market Cap | / | Total Liabilities | |
= | 1065.068 | / | 2640.658 | |
= | 0.4033 |
X5 | = | Revenue | / | Total Assets |
= | 1802.28 | / | 3501.967 | |
= | 0.5146 |
The zones of discrimination were as such:
Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones
Custom Truck One Source has a Altman Z-Score of 0.76 indicating it is in Distress Zones.
Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.
Custom Truck One Source (NYSE:CTOS) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Read more about Altman Z-Score and the original research.
Be Aware
Altman Z-Score does not apply to financial companies.
Thank you for viewing the detailed overview of Custom Truck One Source's Altman Z-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Platinum Equity Llc | 10 percent owner | 360 NORTH CRESCENT DRIVE, BEVERLY HILLS CA 90210 |
Pe One Source Holdings, Llc | 10 percent owner | 360 N. CRESCENT DRIVE, SOUTH BUILDING, BEVERLY HILLS CA 09210 |
Nesco Holdings, Lp | 10 percent owner | 51 JOHN F. KENNEDY PARKWAY, SUITE 200, SHORT HILLS NJ 07078 |
Ecp Controlco, Llc | 10 percent owner | 40 BEECHWOOD ROAD, SUMMIT NJ 07901 |
Energy Capital Partners Management, Lp | 10 percent owner | 51 JOHN F. KENNEDY PARKWAY, SUITE 200, SHORT HILLS NJ 07078 |
Joe P. Ross | officer: President - Sales | C/O NESCO HOLDINGS, INC., 6714 POINTE INVERNESS WAY, SUITE 220, FORT WAYNE IN 46804 |
Thomas R. Rich | officer: EVP - Rentals | C/O NESCO HOLDINGS, INC., 6714 POINTE INVERNESS WAY, SUITE 220, FORT WAYNE IN 46804 |
Marshall Heinberg | director | 1 CORPORATE AVENUE, ROWVILLE C3 3178 |
Georgia R Nelson | director | C/O TOWER AUTOMOTIVE INC, 27175 HAGGERTY ROAD, NOVI MI 48377-3626 |
Ryan Mcmonagle | officer: President, COO | C/O NESCO HOLDINGS, INC., 6714 POINTE INVERNESS WAY, SUITE 220, FORT WAYNE IN 46804 |
Raymond Todd Barrett | officer: Chief Accounting Officer | 6714 POINT INVERNESS WAY, STE 220, FORT WAYNE IN 46804 |
Christopher J Eperjesy | officer: Chief Financial Officer | 505 HIGHWAY 169 NORTH, PLYMOUTH MN 55441 |
Mark Ein | director, 10 percent owner, officer: Chairman and CEO | |
Paul M Jolas | officer: EVP, General Counsel & Sec | 331 N. MAIN ST., EULESS TX 76039 |
Mary M. Jackson | director | 7799 LEESBURG PIKE, SUITE 300 NORTH, FALLS CHURCH VA 22043 |
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