Filing Flows

Filing Flows › Companies › Custom Truck One Source › Cash flow

Custom Truck One Source cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$163M in Q3 2026 · $279M over twelve months

Operating cash flow$163M
Free cash flow+$163M
Cash / net income70.9×
Cash conversion cycle261 days

Analysis

In Q3 2026, Custom Truck One Source generated $163M of operating cash flow. That is $82.0M more than in Q3 2025 ($81.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $279M; the largest uses were other investing ($282M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.5M), other financing ($1.3M); the cash balance rose by $1.5M.

Operating cash flow was $163M against net income of $2.3M — 70.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$69.0M, receivables +$46.2M, inventory +$29.2M.

Its cash conversion cycle was 261 days (receivables 42 + inventory 248 − payables 29).

Free cash flow

Custom Truck One Source: free cash flow by quarterCustom Truck One Source: free cash flow by quarter$82.1MQ4 2024$55.6MQ1 2025$126MQ2 2025$81.5MQ3 2025$47.3MQ4 2025$23.8MQ1 2026$44.4MQ2 2026$163MQ3 2026
Operating cash flow less capital spending.
Custom Truck One Source: operating cash flow against capital spendingCustom Truck One Source: operating cash flow against capital spendingOperating cash flowCapital spending$82.1M$0Q4 2024$55.6M$0Q1 2025$126M$0Q2 2025$81.5M$0Q3 2025$47.3M$0Q4 2025$23.8M$0Q1 2026$44.4M$0Q2 2026$163M$0Q3 2026
Latest (Q3 2026): Operating cash flow $163M, Capital spending $0.

Capital allocation, year by year

Custom Truck One Source: where the cash came from (up) and went (down), by fiscal yearCustom Truck One Source: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAcquisitionsBuybacksFY2021: Operating cash flow $139MFY2021: Net borrowing $1.1BFY2021: Shares issued $883MFY2021: Acquisitions −$1.3B$2.1BFY2021FY2022: Operating cash flow $46.0MFY2022: Net borrowing $38.8MFY2022: Acquisitions −$49.8MFY2022: Buybacks −$10.3M$84.8MFY2022FY2023: Operating cash flow −$30.9MFY2023: Net borrowing $242MFY2023: Buybacks −$38.8M$242MFY2023FY2024: Operating cash flow $122MFY2024: Net borrowing $30.5MFY2024: Acquisitions −$6.0MFY2024: Buybacks −$29.0M$152MFY2024FY2025: Operating cash flow $310MFY2025: Net borrowing $115MFY2025: Buybacks −$32.6M$425MFY2025
Over these 5 years operating cash flow totalled $586M; the largest uses were acquisitions ($1.4B) and buybacks ($111M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$14.6M
Debt$1.7B
Net debt$1.6B
Due within a year$1.2M

Custom Truck One Source funds itself: free cash flow was $279M over the last twelve months, and $14.6M of cash and investments stands against $1.7B of debt ($1.2M due within a year, 11.8× covered by cash).

Where the cash came from and went

Custom Truck One Source: sources (+) and uses (−) of cash, Q3 2026Custom Truck One Source: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$163MOther investing−$127MOther financing−$28.0MNet borrowing (+) / repaid (−)−$4.9MCash drawn (+) / kept (−)−$4.3MExchange rates$383K
Custom Truck One Source: sources (+) and uses (−) of cash, TTM to Q3 2026Custom Truck One Source: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$282MOperating cash flow$279MNet borrowing (+) / repaid (−)$1.5MCash drawn (+) / kept (−)−$1.5MOther financing$1.3MExchange rates$1.3M

From profit to cash

Custom Truck One Source: net income to operating cash flow, Q3 2026Custom Truck One Source: net income to operating cash flow, Q3 2026Net income$2.3MDepreciation & amortization$69.0MStock-based pay$3.3MDeferred taxes−$844KGains on disposals−$9.9MReceivables$46.2MInventory$29.2MPayables$8.6MAccrued liabilities$20.2MDeferred revenue$3.2MOperating cash flow$163M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20264224829261
Q2 20263621425225
Q1 20263924527257
Q4 20253322322234
Q3 20253525628263
Q2 20253524128248
Q1 20254528428300
Q4 20243525720272

Every quarter

QuarterOperating cash flowBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$163M—−$4.9M−$4.3M$163M
Q2 2026$44.4M—$26.9M−$679K$44.4M
Q1 2026$23.8M—−$10.0M−$3.3M$23.8M
Q4 2025$47.3M—−$10.5M$6.8M$47.3M
Q3 2025$81.5M—$38.0M−$7.8M$81.5M
Q2 2025$126M—−$56.7M$121K$126M
Q1 2025$55.6M−$32.6M$72.6M−$1.6M$55.6M
Q4 2024$82.1M—−$45.0M$4.6M$82.1M

Custom Truck One Source: income statement and cash flow

Custom Truck One Source, Q3 2026: revenue $495M (+3% year over year), operating margin 7.7%. The chart follows the revenue to costs, profit and cash.

Custom Truck One Source: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.