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Custom Truck One Source vs Upbound: revenue, profit, margins and growth compared

Custom Truck One Source brought in $1.9B of revenue in fiscal 2025, Upbound $4.7B in fiscal 2025. Revenue changed by +7.9% at Custom Truck One Source and +8.7% at Upbound on the year before, so Upbound grew faster. Custom Truck One Source kept -1.6% of its revenue as net profit, Upbound 1.6%.

Side by side, latest fiscal year

CTOSUPBD
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.9B$4.7B
Revenue growth+7.9%+8.7%
Net income-$31.1M$73.2M
Net margin-1.6%1.6%
Free cash flown/a$238.7M
Free cash flow marginn/a5.1%
Earnings per share (diluted)-$0.14$1.25
Cash$6.3M$120.5M
Debt$1.6B$1.1B
Price to earningsn/a12.9
Market value$2.1B$938M
Dividend yieldn/a9.70%
Rank by revenue in sector#359 of 778 · Consumer discretionary#211 of 778 · Consumer discretionary

Over the years

Revenue
CTOS FY2018: $246.3MCTOS FY2019: $264MCTOS FY2020: $302.7MCTOS FY2021: $1.2BCTOS FY2022: $1.6BCTOS FY2023: $1.9BCTOS FY2024: $1.8BCTOS FY2025: $1.9BUPBD FY2018: $2.7BUPBD FY2019: $2.7BUPBD FY2020: $2.8BUPBD FY2021: $4.6BUPBD FY2022: $4.2BUPBD FY2023: $4BUPBD FY2024: $4.3BUPBD FY2025: $4.7BFY18FY19FY20FY21FY22FY23FY24FY25
CTOS $1.9BUPBD $4.7B
Net income
CTOS FY2018: -$15.5MCTOS FY2019: -$27.1MCTOS FY2020: -$21.3MCTOS FY2021: -$181.5MCTOS FY2022: $38.9MCTOS FY2023: $50.7MCTOS FY2024: -$28.7MCTOS FY2025: -$31.1MUPBD FY2018: $8.5MUPBD FY2019: $173.5MUPBD FY2020: $208.1MUPBD FY2021: $134.9MUPBD FY2022: $12.4MUPBD FY2023: -$5.2MUPBD FY2024: $123.5MUPBD FY2025: $73.2MFY18FY19FY20FY21FY22FY23FY24FY25
CTOS -$31.1MUPBD $73.2M
Net margin
CTOS FY2018: -6.3%CTOS FY2019: -10.2%CTOS FY2020: -7.0%CTOS FY2021: -15.6%CTOS FY2022: 2.5%CTOS FY2023: 2.7%CTOS FY2024: -1.6%CTOS FY2025: -1.6%UPBD FY2018: 0.3%UPBD FY2019: 6.5%UPBD FY2020: 7.4%UPBD FY2021: 2.9%UPBD FY2022: 0.3%UPBD FY2023: -0.1%UPBD FY2024: 2.9%UPBD FY2025: 1.6%FY18FY19FY20FY21FY22FY23FY24FY25
CTOS -1.6%UPBD 1.6%
Revenue growth
CTOS FY2019: +7.2%CTOS FY2020: +14.7%CTOS FY2021: +285.5%CTOS FY2022: +34.8%CTOS FY2023: +18.6%CTOS FY2024: -3.4%CTOS FY2025: +7.9%UPBD FY2019: +0.4%UPBD FY2020: +5.4%UPBD FY2021: +62.9%UPBD FY2022: -7.4%UPBD FY2023: -6.0%UPBD FY2024: +8.2%UPBD FY2025: +8.7%FY19FY20FY21FY22FY23FY24FY25
CTOS +7.9%UPBD +8.7%
Free cash flow
UPBD FY2018: $199.5MUPBD FY2019: $194.3MUPBD FY2020: $202MUPBD FY2021: $329.8MUPBD FY2022: $407.1MUPBD FY2023: $146.9MUPBD FY2024: $48.4MUPBD FY2025: $238.7MFY18FY19FY20FY21FY22FY23FY24FY25
CTOSUPBD $238.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Custom Truck One Source and Upbound

Which is bigger by revenue, Custom Truck One Source or Upbound?

Upbound is bigger by revenue: $4.7B in fiscal 2025, against $1.9B for Custom Truck One Source in fiscal 2025.

Which keeps more of its revenue as profit, Custom Truck One Source or Upbound?

Custom Truck One Source had a net margin of -1.6% in fiscal 2025; Upbound had 1.6% in fiscal 2025.

Which grew revenue faster, Custom Truck One Source or Upbound?

In their latest fiscal years revenue changed by +7.9% at Custom Truck One Source and +8.7% at Upbound.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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