A Business at a Glance
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HERTZ GLOBAL HOLDINGS, INC
HTZ
$556M
Mkt Cap
$1.81
-4.99%
HERTZ GLOBAL HOLDINGS, INC (HTZ) has a 5-year average return on invested capital (ROIC) of -0.3%. This is below average and may indicate limited pricing power.
HERTZ GLOBAL HOLDINGS, INC (HTZ) has a market capitalization of $570M. It is classified as a small-cap stock.
HERTZ GLOBAL HOLDINGS, INC (HTZ) does not currently pay a regular dividend.
HERTZ GLOBAL HOLDINGS, INC (HTZ) operates in the Services-Auto Rental & Leasing (No Drivers) industry, within the Consumer Cyclical sector.
HERTZ GLOBAL HOLDINGS, INC (HTZ) reported annual revenue of $8.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
HERTZ GLOBAL HOLDINGS, INC (HTZ) has a net profit margin of -8.8%. The company is currently unprofitable.
HERTZ GLOBAL HOLDINGS, INC (HTZ) generated $1.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ITEM 1. BUSINESS OUR COMPANY Hertz Holdings was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC, which wholly owns Hertz, Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918. We are engaged principally in the business of renting vehicles primarily through our Hertz, Dollar and Thrifty brands. As of December 31, 2025, we operated our vehicle rental business globally from approximately 11,000 company-operated and franchisee locations across approximately 160 countries and jurisdictions, including the U.S., Europe, Africa, Asia, Australia, Canada, the Caribbean, Latin America, the Middle East and New Zealand. We are one of the largest worldwide vehicle rental companies and our Hertz brand name is among the most recognized globally.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 8.7B | 8.5B | 9.0B | 9.4B | 8.7B | 7.3B |
| Net Income | -637M | -747M | -2.9B | 616M | 2.1B | 366M |
| EPS | $-2.04 | $-2.43 | $-9.34 | $1.39 | $3.36 | $0.81 |
| Free Cash Flow | 1.4B | 1.5B | 2.1B | 2.3B | 2.4B | 1.8B |
| ROIC | 0.0% | 8.6% | -30.1% | 1.4% | 12.9% | 5.7% |
| Gross Margin | - | 77.3% | 60.1% | 78.2% | 40.9% | 27.8% |
| Debt/Equity | 0.00 | -8.40 | 22.10 | 6.33 | 6.47 | 4.18 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 247M | -2.3B | 286M | 2.4B | 1.2B |
| Operating Margin | 0.0% | 2.9% | -25.2% | 3.1% | 28.2% | 15.7% |
| ROE | 0.0% | 488.2% | -176.4% | 21.5% | 73.2% | 24.1% |
| Shares Outstanding | 315M | 307M | 306M | 443M | 613M | 450M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 9.5B | 9.0B | 8.8B | 8.8B | 9.5B | 9.8B | 5.3B | 7.3B | 8.7B | 9.4B | 9.0B | 8.5B | 8.7B |
| Gross Margin | 74.2% | 74.8% | 73.2% | 71.8% | 74.1% | 45.8% | 61.4% | 27.8% | 40.9% | 78.2% | 60.1% | 77.3% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 936M | 873M | 899M | 880M | 1.0B | 949M | 645M | 688M | 959M | 962M | 819M | 957M | 974M |
| EBIT | 241M | 636M | -143M | -269M | 36M | 810M | -2.0B | 1.2B | 2.4B | 286M | -2.3B | 247M | 0 |
| Op. Margin | 2.5% | 7.1% | -1.6% | -3.1% | 0.4% | 8.3% | -37.5% | 15.7% | 28.2% | 3.1% | -25.2% | 2.9% | 0.0% |
| Net Income | -82M | 273M | -491M | 327M | -225M | -58M | -1.7B | 366M | 2.1B | 616M | -2.9B | -747M | -637M |
| Net Margin | -0.9% | 3.0% | -5.6% | 3.7% | -2.4% | -0.6% | -32.6% | 5.0% | 23.7% | 6.6% | -31.6% | -8.8% | -7.3% |
| Non-Recurring | 110M | 232M | 318M | 126M | 1.0M | 39M | 61M | 476M | 45M | 179M | 1.1B | 162M | 23M |
| Returns on Capital | |||||||||||||
| ROIC | N/A | 6.0% | -1.2% | 4.8% | 0.9% | 12.3% | -36.0% | 5.7% | 12.9% | 1.4% | -30.1% | 8.6% | 0.0% |
| ROE | N/A | 12.2% | -31.7% | 25.2% | -17.4% | -4.1% | -187.8% | 24.1% | 73.2% | 21.5% | -176.4% | 488.2% | 0.0% |
| ROA | N/A | 2.3% | -2.3% | 1.7% | -1.1% | -0.3% | -8.3% | 2.0% | 9.7% | 2.6% | -12.3% | -3.4% | -2.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 2.9B | 2.8B | 2.5B | 2.4B | 2.6B | 2.9B | 953M | 1.8B | 2.5B | 2.5B | 2.2B | 1.6B | 1.4B |
| Free Cash Flow | 2.6B | 2.5B | 2.4B | 2.3B | 2.4B | 2.7B | 855M | 1.8B | 2.4B | 2.3B | 2.1B | 1.5B | 1.4B |
| Owner Earnings | 2.6B | 2.5B | 2.3B | 2.1B | 2.3B | 2.7B | 726M | 1.6B | 2.3B | 2.2B | 2.0B | 1.4B | 583M |
| CapEx | 331M | 250M | 134M | 65M | 177M | 224M | 98M | 24M | 150M | 188M | 105M | 97M | 21M |
| Maint. CapEx | 291M | 274M | 265M | 240M | 218M | 203M | 225M | 196M | 142M | 149M | 139M | 117M | 747M |
| Growth CapEx | 40M | 0 | 0 | 0 | 0 | 21M | 0 | 0 | 8.0M | 39M | 0 | 0 | 0 |
| D&A | 291M | 274M | 265M | 240M | 218M | 203M | 225M | 196M | 142M | 149M | 139M | 117M | 747M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.3% | 0.9% | 0.6% | 0.1% | 0.8% | 1.5% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 605M | 100M | 0 | 0 | 0 | 0 | 654M | 2.5B | 315M | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | 8.6% | 54.3% | 6.7% | N/A | N/A | 0.0% |
| Stock-Based Comp | 10M | 16M | 13M | 19M | 14M | 18M | 2.0M | 10M | 131M | 87M | 63M | 63M | 64M |
| Debt Repayment | 4.5B | 7.1B | 9.7B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 6.4B | 8.9B | 11.5B | 3.3B | 1.7B | 3.4B | 11.2B | 10.2B | 16.2B | 18.8B | 2.8B | 3.3B | 1.5B |
| Cash & Equiv. | 474M | 474M | 816M | 1.1B | 1.1B | 865M | 1.1B | 2.3B | 943M | 764M | 592M | 565M | 583M |
| Long-Term Debt | 4.4B | 7.5B | 9.7B | 1.4B | 827M | 1.4B | 6.3B | 10.9B | 13.9B | 15.7B | 63M | 464M | 464M |
| Debt/Equity | N/A | 4.65 | 11.43 | 2.89 | 2.74 | 2.39 | 219.00 | 4.18 | 6.47 | 6.33 | 22.10 | -8.40 | 0.00 |
| Interest Coverage | 0.7 | 1.8 | -0.4 | -0.9 | 0.1 | 1.0 | -28.2 | 2.5 | N/A | N/A | -2.4 | 0.2 | 0.2 |
| Equity | N/A | 2.0B | 1.1B | 1.5B | 1.1B | 1.8B | 56M | 3.0B | 2.6B | 3.1B | 153M | -459M | -786M |
| Total Assets | N/A | 23.5B | 19.2B | 20.1B | 21.4B | 24.6B | 16.9B | 19.8B | 22.5B | 24.6B | 21.8B | 22.3B | 23.3B |
| Total Liabilities | N/A | 21.5B | 18.1B | 18.5B | 20.3B | 22.7B | 16.8B | 16.8B | 19.9B | 21.5B | 21.6B | 22.8B | 24.1B |
| Intangibles | N/A | 3.5B | 3.3B | 3.2B | 3.2B | 3.2B | 3.0B | 2.9B | 2.9B | 2.9B | 2.9B | 2.9B | 2.9B |
| Retained Earnings | N/A | -391M | -882M | -506M | -909M | -967M | -2.7B | -2.3B | -256M | 360M | -2.5B | -3.2B | -3.6B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | 980M | N/A | 1.3B | N/A | N/A | 863M | N/A | N/A | 1.2B | 1.2B | 980M |
| Per Share Data | |||||||||||||
| EPS | -0.30 | 0.22 | -1.95 | 1.15 | -0.78 | -0.16 | -3.81 | 0.81 | 3.36 | 1.39 | -9.34 | -2.43 | -2.04 |
| Owner EPS | 9.66 | 1.96 | 8.94 | 7.49 | 8.09 | 7.54 | 1.62 | 3.56 | 3.70 | 5.05 | 6.60 | 4.70 | 1.85 |
| Book Value | N/A | 1.59 | 4.27 | 5.33 | 3.69 | 4.98 | 0.12 | 6.62 | 4.32 | 6.98 | 0.50 | -1.49 | -2.49 |
| Cash Flow/Share | 10.76 | 2.19 | 10.04 | 8.39 | 8.90 | 8.17 | 2.12 | 4.02 | 4.14 | 5.58 | 7.26 | 5.29 | 0.35 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 273.3M | 1.3B | 251.8M | 285.2M | 287.2M | 355.1M | 449.5M | 449.8M | 612.8M | 443.2M | 306.4M | 307.4M | 315.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.4 | 7.6 | N/A | N/A | -0.9 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.2 | 3.8 | 2.0 | 0.5 | 1.1 | 0.4 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 668.3 | 6.2 | 24.9 | N/A | 71.1 | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.6 | 1.7 | 1.5 | 7.3 | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.9 | 0.7 | 0.7 | 0.2 | 0.2 | 0.1 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 23.3% | 52.7% | 48.9% | 191.0% | 92.7% | 240.8% |
| Market Cap | 0 | N/A | N/A | N/A | N/A | N/A | N/A | 7.6B | 4.5B | 4.7B | 1.1B | 1.6B | 570M |
| Avg. Price | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | 21.42 | 19.19 | 15.06 | 5.09 | 5.54 | 1.81 |
| Year-End Price | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | 24.57 | 14.85 | 10.54 | 3.62 | 5.36 | 1.81 |
HERTZ GLOBAL HOLDINGS, INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 0.4x vs a median of 2.0x. The company's 5-year average gross margin is 56.9%. At current prices, the estimated annualized return to fair value is +14.3%.
HERTZ GLOBAL HOLDINGS, INC (HTZ) reported earnings per share (EPS) of $-2.43 in its most recent fiscal year.
HERTZ GLOBAL HOLDINGS, INC (HTZ) has a return on equity (ROE) of 488.2%. This indicates the company generates strong returns for shareholders.
HERTZ GLOBAL HOLDINGS, INC (HTZ) has a 5-year average gross margin of 56.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for HERTZ GLOBAL HOLDINGS, INC (HTZ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HERTZ GLOBAL HOLDINGS, INC (HTZ) has a book value per share of $-1.49, based on its most recent annual SEC filing.