Custom Truck One Source, Inc.

AI-generated fair value estimate for this company.

Method: EV/EBITDA approach: normalized EBITDA of ~$485M (≈24% margin on $2.035B TTM revenue, in line with historical equipment-rental margins) at a 6.5x industry multiple = EV of ~$3.15B; less $2.54B net debt = $615M equity value / 227.51M shares = $2.70/share.

Reasoning: Custom Truck One Source is a highly capital-intensive, debt-financed equipment-rental and fleet business where reported 'free cash flow' is distorted by discretionary fleet-growth capex (collateralized by resalable equipment); EV/EBITDA is the standard and more appropriate valuation method in this industry rather than a naive owner-FCF DCF, which would be overly punished by the large gross debt load.