NASDAQ : HTZ
Hertz Global Holdings, Inc. — Financial statements
Industrials · Rental & Leasing Services · United States
Last price 1.94 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 691.52M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Hertz Global Holdings, Inc. (HTZ) reported revenue of 8.91B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 8.91B | 8.50B | 9.05B | 9.37B | 8.69B | 7.34B |
| Revenue | 8.91B | 8.50B | 9.05B | 9.37B | 8.69B | 7.34B |
| Cost of Revenue | 7.45B | 7.32B | 9.26B | 7.46B | 5.49B | 4.42B |
| Gross Profit | 1.45B | 1.18B | -209.00M | 1.91B | 3.20B | 2.92B |
| Selling, General & Admin | 1.08B | 1.03B | 803.00M | 1.00B | 986.00M | 694.00M |
| Operating Expenses | 1.19B | 1.15B | 942.00M | 1.15B | 1.13B | 890.00M |
| Operating Income | 261.00M | 29.00M | -1.15B | 756.00M | 2.07B | 2.03B |
| Interest Expense | -941.00M | -1.08B | -959.00M | -793.00M | -328.00M | -461.00M |
| Currency Exchange Gain (Loss) | -2.00M | 2.00M | ||||
| Other Non Operating Income (Expenses) | 227.00M | -38.00M | 279.00M | 161.00M | 711.00M | -602.00M |
| EBT Excluding Unusual Items | -453.00M | -1.09B | -1.83B | 124.00M | 2.45B | 968.00M |
| Merger & Restructuring Charges | -18.00M | -18.00M | -66.00M | |||
| Gain (Loss) on Sale of Assets | 119.00M | 144.00M | 162.00M | 400.00M | ||
| Asset Writedown | -1.05B | |||||
| Legal Settlements | 130.00M | 130.00M | -292.00M | |||
| Other Unusual Items | -685.00M | |||||
| Pretax Income | -222.00M | -830.00M | -3.24B | 286.00M | 2.45B | 683.00M |
| Income Tax Expense | 57.00M | -83.00M | -375.00M | -330.00M | 390.00M | 318.00M |
| Earnings From Continuing Operations | -279.00M | -747.00M | -2.86B | 616.00M | 2.06B | 365.00M |
| Net Income to Company | -279.00M | -747.00M | -2.86B | 616.00M | 2.06B | 365.00M |
| Minority Interest in Earnings | 1.00M | |||||
| Net Income | -279.00M | -747.00M | -2.86B | 616.00M | 2.06B | 366.00M |
| Preferred Dividends & Other Adjustments | 450.00M | |||||
| Net Income to Common | -279.00M | -747.00M | -2.86B | 616.00M | 2.06B | -84.00M |
| Shares Outstanding (Basic) | 313.50M | 310.00M | 306.00M | 313.00M | 379.00M | 315.00M |
| Shares Outstanding (Diluted) | 313.50M | 322.00M | 306.00M | 326.00M | 403.00M | 315.00M |
| EPS (Basic) | -0.89 | -2.41 | -9.35 | 1.97 | 5.43 | -0.27 |
| EPS (Diluted) | -1.14 | -2.43 | -9.35 | 1.39 | 3.36 | -0.27 |
| Free Cash Flow | -1.27B | -569.00M | -727.00M | -1.73B | -1.71B | -2.60B |
| Free Cash Flow Per Share | -4.04 | -1.77 | -2.38 | -5.31 | -4.24 | -8.26 |
| Gross Margin | 16.31% | 13.88% | -2.31% | 20.34% | 36.80% | 39.79% |
| Operating Margin | 2.93% | 0.34% | -12.72% | 8.07% | 23.81% | 27.66% |
| Profit Margin | -3.13% | -8.78% | -31.63% | 6.57% | 23.71% | -1.15% |
| Free Cash Flow Margin | -14.21% | -6.69% | -8.03% | -18.46% | -19.69% | -35.45% |
| EBITDA | 371.00M | 146.00M | -1.01B | 905.00M | 2.21B | 2.23B |
| EBITDA Margin | 4.17% | 1.72% | -11.18% | 9.66% | 25.45% | 30.33% |
| D&A For EBITDA | 110.00M | 117.00M | 139.00M | 149.00M | 142.00M | 196.00M |
| EBIT | 261.00M | 29.00M | -1.15B | 756.00M | 2.07B | 2.03B |
| EBIT Margin | 2.93% | 0.34% | -12.72% | 8.07% | 23.81% | 27.66% |
| Effective Tax Rate | 15.93% | 46.56% | ||||
| Advertising Expenses | 230.00M | 264.00M | 285.00M | 262.00M | 195.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 631.00M | 565.00M | 592.00M | 764.00M | 943.00M | 2.26B |
| Trading Asset Securities | 4.00M | 1.00M | 2.00M | 10.00M | 140.00M | |
| Cash & Short-Term Investments | 635.00M | 566.00M | 594.00M | 774.00M | 1.08B | 2.26B |
| Receivables | 1.20B | 1.11B | 1.21B | 1.19B | 974.00M | 758.00M |
| Prepaid Expenses | 976.00M | 736.00M | 878.00M | 700.00M | 1.00B | 987.00M |
| Restricted Cash | 673.00M | 602.00M | 541.00M | 442.00M | 475.00M | 393.00M |
| Other Current Assets | 1.00M | 2.00M | 1.00M | 5.00M | 1.00M | |
| Total Current Assets | 3.49B | 3.02B | 3.22B | 3.11B | 3.53B | 4.40B |
| Property, Plant & Equipment | 2.77B | 2.82B | 2.71B | 2.92B | 2.52B | 2.17B |
| Goodwill | 1.04B | 1.04B | 1.04B | 1.04B | 1.04B | 1.04B |
| Other Intangible Assets | 2.88B | 2.86B | 2.85B | 2.86B | 2.89B | 2.91B |
| Other Long-Term Assets | 13.69B | 12.57B | 11.98B | 14.66B | 12.51B | 9.26B |
| Total Assets | 23.87B | 22.31B | 21.80B | 24.61B | 22.50B | 19.78B |
| Accounts Payable | 1.12B | 859.00M | 642.00M | 701.00M | 657.00M | 572.00M |
| Accrued Expenses | 1.02B | 1.04B | 1.03B | 767.00M | 802.00M | 861.00M |
| Current Portion of Leases | 331.00M | 610.00M | ||||
| Finance Div. Debt Current | 3.48B | 2.50B | 2.50B | 2.19B | 86.00M | |
| Current Income Taxes Payable | 135.00M | 131.00M | 158.00M | 157.00M | 170.00M | 157.00M |
| Other Current Liabilities | 3.00M | 132.00M | 67.00M | 2.00M | 2.00M | 2.00M |
| Total Current Liabilities | 6.09B | 5.28B | 4.39B | 3.82B | 1.72B | 1.59B |
| Long-Term Debt | 6.04B | 5.42B | 5.10B | 3.45B | 2.97B | 2.99B |
| Finance Div. Debt Long-Term | 9.23B | 9.13B | 8.73B | 10.05B | 10.80B | 7.92B |
| Long-Term Leases | 2.01B | 1.67B | 2.07B | 2.14B | 1.81B | 1.51B |
| Pension & Post-Retirement Benefits | 55.00M | 80.00M | 91.00M | 86.00M | ||
| Long-Term Deferred Tax Liabilities | 396.00M | 350.00M | 472.00M | 1.04B | 1.36B | 1.01B |
| Other Long-Term Liabilities | 733.00M | 870.00M | 795.00M | 924.00M | 472.00M | 1.79B |
| Total Liabilities | 24.50B | 22.77B | 21.65B | 21.51B | 19.22B | 16.81B |
| Common Stock | 5.00M | 5.00M | 5.00M | 5.00M | 5.00M | |
| Additional Paid-In Capital | 6.56B | 6.45B | 6.40B | 6.41B | 4.84B | 6.21B |
| Retained Earnings | -3.52B | -3.25B | -2.50B | 360.00M | -1.27B | -2.31B |
| Treasury Stock | -3.43B | -3.43B | -3.43B | -3.43B | -708.00M | |
| Comprehensive Income & Other | -242.00M | -232.00M | -316.00M | -248.00M | -294.00M | -214.00M |
| Total Common Equity | -628.00M | -459.00M | 153.00M | 3.09B | 3.28B | 2.98B |
| Shareholders' Equity | -628.00M | -459.00M | 153.00M | 3.09B | 3.28B | 2.98B |
| Total Liabilities & Equity | 23.87B | 22.31B | 21.80B | 24.61B | 22.50B | 19.78B |
| Total Debt | 21.09B | 19.33B | 18.41B | 17.83B | 15.66B | 12.42B |
| Net Cash (Debt) | -20.45B | -18.76B | -17.81B | -17.06B | -14.58B | -10.16B |
| Net Cash Per Share | -65.24 | -58.27 | -58.22 | -52.33 | -36.18 | -32.25 |
| Filing Date Shares Outstanding | 356.45M | 312.36M | 306.83M | 305.30M | 322.41M | 429.29M |
| Total Common Shares Outstanding | 355.92M | 311.73M | 306.69M | 305.18M | 323.48M | 449.78M |
| Working Capital | -2.60B | -2.26B | -1.18B | -707.00M | 1.82B | 2.80B |
| Book Value Per Share | -1.76 | -1.47 | 0.50 | 10.13 | 10.14 | 6.62 |
| Tangible Book Value | -4.55B | -4.36B | -3.74B | -815.00M | -652.00M | -980.00M |
| Tangible Book Value Per Share | -12.78 | -13.99 | -12.20 | -2.67 | -2.02 | -2.18 |
| Land | 895.00M | 905.00M | 1.01B | 990.00M | 971.00M | |
| Machinery | 422.00M | 450.00M | 430.00M | 392.00M | 339.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -279.00M | -747.00M | -2.86B | 616.00M | 2.06B | 366.00M |
| Depreciation & Amortization | 110.00M | 117.00M | 139.00M | 149.00M | 142.00M | 196.00M |
| Other Amortization | 2.23B | 2.23B | 4.06B | 2.48B | 862.00M | 722.00M |
| Loss (Gain) From Sale of Assets | -119.00M | -144.00M | -162.00M | -5.00M | -408.00M | |
| Asset Writedown & Restructuring Costs | 1.05B | 314.00M | ||||
| Stock-Based Compensation | 69.00M | 63.00M | -5.00M | 87.00M | 130.00M | 10.00M |
| Provision & Write-off of Bad Debts | 158.00M | 127.00M | 120.00M | 93.00M | 57.00M | 125.00M |
| Other Operating Activities | -353.00M | -98.00M | -753.00M | -421.00M | -503.00M | 899.00M |
| Change in Accounts Receivable | -202.00M | -11.00M | 23.00M | -216.00M | -264.00M | -210.00M |
| Change in Accounts Payable | 74.00M | 12.00M | -14.00M | -48.00M | 43.00M | -70.00M |
| Change in Income Taxes | -33.00M | -35.00M | 18.00M | 3.00M | 73.00M | 24.00M |
| Change in Other Net Operating Assets | -228.00M | 107.00M | 453.00M | -110.00M | -56.00M | -162.00M |
| Operating Cash Flow | 1.43B | 1.62B | 2.22B | 2.47B | 2.54B | 1.81B |
| Capital Expenditures | -2.69B | -2.19B | -2.95B | -4.20B | -4.25B | -4.41B |
| Sale of Property, Plant & Equipment | 196.00M | 200.00M | 23.00M | 181.00M | 12.00M | 16.00M |
| Divestitures | 871.00M | |||||
| Investment in Securities | -1.00M | -1.00M | -1.00M | -1.00M | -16.00M | |
| Other Investing Activities | 19.00M | -24.00M | ||||
| Investing Cash Flow | -2.50B | -2.00B | -2.93B | -4.02B | -4.23B | -3.54B |
| Long-Term Debt Issued | 8.43B | 8.52B | 8.53B | 9.67B | 18.97B | |
| Long-Term Debt Repaid | -7.93B | -7.79B | -6.86B | -6.66B | -18.96B | |
| Net Debt Issued (Repaid) | 1.40B | 503.00M | 726.00M | 1.68B | 3.01B | 8.00M |
| Issuance of Common Stock | 3.00M | 3.00M | 4.50B | |||
| Repurchase of Common Stock | -315.00M | -2.46B | -654.00M | |||
| Common Dividends Paid | -239.00M | |||||
| Other Financing Activities | -149.00M | -131.00M | -68.00M | -50.00M | -68.00M | -317.00M |
| Financing Cash Flow | 1.25B | 372.00M | 658.00M | 1.31B | 487.00M | 2.85B |
| Foreign Exchange Rate Adjustments | -8.00M | 32.00M | -26.00M | 25.00M | -25.00M | -34.00M |
| Net Cash Flow | 175.00M | 34.00M | -73.00M | -212.00M | -1.23B | 1.07B |
| Free Cash Flow | -1.27B | -569.00M | -727.00M | -1.73B | -1.71B | -2.60B |
| Free Cash Flow Margin | -14.21% | -6.69% | -8.03% | -18.46% | -19.69% | -35.45% |
| Free Cash Flow Per Share | -4.04 | -1.77 | -2.38 | -5.31 | -4.24 | -8.26 |
| Levered Free Cash Flow | 1.48B | 12.00M | 209.25M | 706.88M | -2.21B | -3.04B |
| Unlevered Free Cash Flow | 1.98B | 599.12M | 734.62M | 1.14B | -2.06B | -2.87B |
| Cash Interest Paid | 1.05B | 1.00B | 798.00M | 721.00M | 372.00M | 455.00M |
| Cash Income Tax Paid | 50.00M | 80.00M | 53.00M | 33.00M | 78.00M | 40.00M |
| Change in Working Capital | -389.00M | 73.00M | 480.00M | -371.00M | -204.00M | -418.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 695.08M | 1.60B | 1.12B | 3.20B | 5.14B | 11.83B |
| Enterprise Value | 21.15B | 20.21B | 19.60B | 20.69B | 18.62B | 20.69B |
| Last Close Price | 1.92 | 5.14 | 3.66 | 10.39 | 15.39 | 24.99 |
| PE Ratio | 5.19 | 2.50 | ||||
| Forward PE | 10.34 | 10.34 | 10.06 | 5.85 | 9.19 | |
| PS Ratio | 0.08 | 0.19 | 0.12 | 0.34 | 0.59 | 1.61 |
| PB Ratio | -3.49 | 7.34 | 1.03 | 1.57 | 3.98 | |
| P/OCF Ratio | 0.49 | 0.99 | 0.51 | 1.29 | 2.02 | 6.55 |
| EV/Sales Ratio | 2.38 | 2.38 | 2.17 | 2.21 | 2.14 | 2.82 |
| EV/EBITDA Ratio | 57.02 | 138.40 | 22.86 | 8.43 | 9.30 | |
| EV/EBIT Ratio | 81.05 | 696.78 | 27.36 | 9.00 | 10.20 | |
| Debt / Equity Ratio | -33.58 | -42.11 | 120.31 | 5.77 | 4.78 | 4.17 |
| Debt / EBITDA Ratio | 43.75 | 81.21 | 19.09 | 7.02 | 4.13 | |
| Net Debt / Equity Ratio | -32.57 | -40.88 | 116.43 | 5.52 | 4.45 | 3.41 |
| Net Debt / EBITDA Ratio | 55.13 | 128.51 | -17.60 | 18.85 | 6.60 | 4.57 |
| Net Debt / FCF Ratio | -16.16 | -32.98 | -24.50 | -9.86 | -8.53 | -3.91 |
| Asset Turnover | 0.38 | 0.39 | 0.39 | 0.40 | 0.41 | 0.40 |
| Quick Ratio | 0.30 | 0.32 | 0.41 | 0.52 | 1.20 | 1.89 |
| Current Ratio | 0.57 | 0.57 | 0.73 | 0.81 | 2.06 | 2.76 |
| Return on Equity (ROE) | -176.39% | 19.34% | 65.83% | 23.78% | ||
| Return on Assets (ROA) | 0.69% | 0.08% | -3.10% | 2.01% | 6.11% | 6.91% |
| Return on Invested Capital (ROIC) | 1.43% | 0.17% | -6.04% | 3.98% | 11.22% | 8.86% |
| Return on Capital Employed (ROCE) | 1.50% | 0.20% | -6.60% | 3.60% | 10.00% | 11.20% |
| Earnings Yield | -58.38% | -46.64% | -254.97% | 19.26% | 40.06% | 3.09% |
| FCF Yield | -180.29% | -35.53% | -64.77% | -54.09% | -33.27% | -21.98% |
| Payout Ratio | 65.30% | |||||
| Buyback Yield / Dilution | -2.12% | -5.23% | 6.13% | 19.11% | -27.94% | -110.00% |