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Side-by-side financial comparison of Custom Truck One Source, Inc. (CTOS) and MCGRATH RENTCORP (MGRC). Click either name above to swap in a different company.
Custom Truck One Source, Inc. is the larger business by last-quarter revenue ($387.3M vs $256.8M, roughly 1.5× MCGRATH RENTCORP). MCGRATH RENTCORP runs the higher net margin — 19.4% vs 5.4%, a 14.0% gap on every dollar of revenue. On growth, MCGRATH RENTCORP posted the faster year-over-year revenue change (5.3% vs -2.8%). Over the past eight quarters, MCGRATH RENTCORP's revenue compounded faster (16.9% CAGR vs 13.0%).
Custom Truck One Source, Inc. is a leading provider of specialized heavy truck and equipment solutions in North America. It offers custom vehicle manufacturing, equipment sales and rentals, aftermarket parts, and maintenance services, serving core infrastructure, utility, construction, and energy industry segments.
McGrath RentCorp is a leading North American B2B rental provider. It offers relocatable modular office and classroom buildings, portable storage units, and electronic test and measurement equipment, serving construction, education, industrial and technology sector clients across the U.S. and parts of Canada.
CTOS vs MGRC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $387.3M | $256.8M |
| Net Profit | $20.9M | $49.8M |
| Gross Margin | 31.8% | 50.1% |
| Operating Margin | 13.4% | 28.9% |
| Net Margin | 5.4% | 19.4% |
| Revenue YoY | -2.8% | 5.3% |
| Net Profit YoY | -24.3% | 28.0% |
| EPS (diluted) | $0.10 | $2.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $387.3M | $256.8M | ||
| Q3 25 | $359.9M | $256.4M | ||
| Q2 25 | $392.2M | $235.6M | ||
| Q1 25 | $307.1M | $195.4M | ||
| Q4 24 | $398.3M | $243.7M | ||
| Q3 24 | $337.5M | $266.8M | ||
| Q2 24 | $320.6M | $212.6M | ||
| Q1 24 | $303.5M | $187.8M |
| Q4 25 | $20.9M | $49.8M | ||
| Q3 25 | $-5.8M | $42.3M | ||
| Q2 25 | $-28.4M | $36.0M | ||
| Q1 25 | $-17.8M | $28.2M | ||
| Q4 24 | $27.6M | $38.9M | ||
| Q3 24 | $-17.4M | $149.3M | ||
| Q2 24 | $-24.5M | $20.6M | ||
| Q1 24 | $-14.3M | $22.8M |
| Q4 25 | 31.8% | 50.1% | ||
| Q3 25 | 28.0% | 46.5% | ||
| Q2 25 | 26.1% | 47.0% | ||
| Q1 25 | 27.9% | 49.3% | ||
| Q4 24 | 29.7% | 47.1% | ||
| Q3 24 | 27.2% | 46.5% | ||
| Q2 24 | 27.8% | 48.6% | ||
| Q1 24 | 29.9% | 49.7% |
| Q4 25 | 13.4% | 28.9% | ||
| Q3 25 | 9.1% | 26.0% | ||
| Q2 25 | 7.1% | 24.3% | ||
| Q1 25 | 4.0% | 23.3% | ||
| Q4 24 | 16.9% | 25.9% | ||
| Q3 24 | 6.8% | 28.0% | ||
| Q2 24 | 5.5% | 25.6% | ||
| Q1 24 | 6.1% | 27.7% |
| Q4 25 | 5.4% | 19.4% | ||
| Q3 25 | -1.6% | 16.5% | ||
| Q2 25 | -7.2% | 15.3% | ||
| Q1 25 | -5.8% | 14.4% | ||
| Q4 24 | 6.9% | 16.0% | ||
| Q3 24 | -5.2% | 56.0% | ||
| Q2 24 | -7.6% | 9.7% | ||
| Q1 24 | -4.7% | 12.2% |
| Q4 25 | $0.10 | $2.02 | ||
| Q3 25 | $-0.03 | $1.72 | ||
| Q2 25 | $-0.13 | $1.46 | ||
| Q1 25 | $-0.08 | $1.15 | ||
| Q4 24 | $0.11 | $1.58 | ||
| Q3 24 | $-0.07 | $6.08 | ||
| Q2 24 | $-0.10 | $0.84 | ||
| Q1 24 | $-0.06 | $0.93 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $6.3M | $295.0K |
| Total DebtLower is stronger | $1.6B | — |
| Stockholders' EquityBook value | $809.1M | $1.2B |
| Total Assets | $3.4B | $2.4B |
| Debt / EquityLower = less leverage | 2.03× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.3M | $295.0K | ||
| Q3 25 | $13.1M | $7.3M | ||
| Q2 25 | $5.3M | $1.5M | ||
| Q1 25 | $5.4M | $3.4M | ||
| Q4 24 | $3.8M | $807.0K | ||
| Q3 24 | $8.4M | $4.1M | ||
| Q2 24 | $8.1M | $9.4M | ||
| Q1 24 | $8.0M | $1.9M |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $809.1M | $1.2B | ||
| Q3 25 | $784.7M | $1.2B | ||
| Q2 25 | $790.1M | $1.2B | ||
| Q1 25 | $813.4M | $1.1B | ||
| Q4 24 | $861.3M | $1.1B | ||
| Q3 24 | $837.5M | $1.1B | ||
| Q2 24 | $856.7M | $954.2M | ||
| Q1 24 | $896.7M | $943.0M |
| Q4 25 | $3.4B | $2.4B | ||
| Q3 25 | $3.5B | $2.4B | ||
| Q2 25 | $3.6B | $2.3B | ||
| Q1 25 | $3.5B | $2.2B | ||
| Q4 24 | $3.5B | $2.3B | ||
| Q3 24 | $3.6B | $2.3B | ||
| Q2 24 | $3.5B | $2.3B | ||
| Q1 24 | $3.5B | $2.3B |
| Q4 25 | 2.03× | — | ||
| Q3 25 | 2.10× | — | ||
| Q2 25 | 2.04× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.79× | — | ||
| Q1 24 | 1.67× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $47.3M | $80.9M |
| Free Cash FlowOCF − Capex | — | $69.8M |
| FCF MarginFCF / Revenue | — | 27.2% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | 2.27× | 1.62× |
| TTM Free Cash FlowTrailing 4 quarters | — | $211.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $47.3M | $80.9M | ||
| Q3 25 | $81.5M | $65.1M | ||
| Q2 25 | $125.7M | $55.8M | ||
| Q1 25 | $55.6M | $53.9M | ||
| Q4 24 | $82.1M | $36.8M | ||
| Q3 24 | $16.5M | $199.0M | ||
| Q2 24 | $37.8M | $79.2M | ||
| Q1 24 | $-14.4M | $59.4M |
| Q4 25 | — | $69.8M | ||
| Q3 25 | — | $53.5M | ||
| Q2 25 | — | $38.2M | ||
| Q1 25 | — | $49.9M | ||
| Q4 24 | — | $32.6M | ||
| Q3 24 | — | $193.0M | ||
| Q2 24 | — | $74.4M | ||
| Q1 24 | — | $34.1M |
| Q4 25 | — | 27.2% | ||
| Q3 25 | — | 20.8% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | 25.5% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 35.0% | ||
| Q1 24 | — | 18.2% |
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 13.5% |
| Q4 25 | 2.27× | 1.62× | ||
| Q3 25 | — | 1.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | — | 1.91× | ||
| Q4 24 | 2.98× | 0.94× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 3.84× | ||
| Q1 24 | — | 2.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTOS
| Equipment Rental Solutions Segment | $207.1M | 53% |
| Rental Revenue Excluding Shipping And Handling | $135.5M | 35% |
| Sales And Services Parts And Services | $32.3M | 8% |
| Rental Revenue Shipping And Handling | $6.5M | 2% |
| Sales And Services | $5.5M | 1% |
MGRC
| Transferred At Point In Time | $73.7M | 29% |
| Non Lease Sales | $55.4M | 22% |
| Trs Ren Telco | $40.6M | 16% |
| Transferred Over Time | $26.0M | 10% |
| Portable Storage | $23.8M | 9% |
| Enviroplex | $16.6M | 6% |
| Non Lease Rental Related Services | $11.1M | 4% |
| Other | $7.3M | 3% |
