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HTZ

Hertz Global Holdings, Inc.

HTZ

Hertz Global Holdings, Inc. • NASDAQ
$5.24 ▲ 2.34% (+0.12)
Market Cap $1.63 B
52w High $9.39
52w Low $3.15
Dividend Yield 0%
P/E -1.57
Volume 2.71M
Outstanding Shares 311.59M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.478B ▲ $248M ▲ $184M ▲ 7.425% ▲ $0.59 ▲ $1.05B ▲
Q2-2025 $2.185B ▲ $244M ▲ $-294M ▲ -13.455% ▲ $-0.95 ▲ $449M ▲
Q1-2025 $1.813B ▼ $223M ▼ $-443M ▲ -24.435% ▼ $-1.44 ▲ $389M ▼
Q4-2024 $2.04B ▼ $246M ▲ $-479M ▲ -23.48% ▲ $-1.56 ▲ $500M ▲
Q3-2024 $2.576B $185M $-1.332B -51.708% $-4.34 $-318M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.095B ▼ $22.99B ▼ $23.307B ▼ $-317M ▲
Q2-2025 $1.129B ▲ $23.083B ▲ $23.587B ▲ $-504M ▼
Q1-2025 $626M ▲ $22.047B ▲ $22.309B ▲ $-262M ▼
Q4-2024 $592M ▲ $21.802B ▼ $21.649B ▼ $153M ▼
Q3-2024 $501M $22.978B $22.297B $681M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $184M ▲ $835M ▲ $-158M ▲ $-256M ▼ $420M ▲ $626M ▲
Q2-2025 $-294M ▲ $346M ▲ $-846M ▼ $587M ▲ $108M ▲ $346M ▲
Q1-2025 $-443M ▲ $251M ▼ $-718M ▼ $346M ▲ $-112M ▼ $251M ▼
Q4-2024 $-479M ▲ $414M ▼ $338M ▲ $-498M ▲ $228M ▲ $746M ▲
Q3-2024 $-1.332B $894M $-487M $-511M $-89M $395M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
International Car Rental
International Car Rental
 $370.00M ▲$320.00M ▼$450.00M ▲$1.38Bn ▲
US Car Rental
US Car Rental
 $1.67Bn ▲$1.49Bn ▼$1.74Bn ▲$6.49Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Hertz’s revenue has recovered strongly from the pandemic and then flattened out more recently, but profitability has moved in the wrong direction. After a couple of solidly profitable years, the latest year shows a clear step back: gross profit has turned into a loss, operating income is negative, and the company has swung to a sizable net loss. Earnings have been very volatile across the last few years, which suggests the business is sensitive to changes in pricing, fleet costs, and demand. On the positive side, underlying cash earnings (before interest and non‑cash items) remain positive, but they are shrinking, pointing to margin pressure and a need for tighter cost and fleet discipline.

Balance Sheet

Balance Sheet The balance sheet is dominated by vehicles financed with a large amount of debt, which is typical for this industry but still a key risk. Total assets have grown over time as the fleet has expanded, yet equity remains very thin and has dropped sharply in the most recent year, leaving only a modest capital cushion. Debt levels are high compared with this equity base, making Hertz quite leveraged and more exposed to interest rates, used‑car values, and any downturn in travel demand. Cash on hand is relatively small in relation to total obligations, so ongoing access to funding and stable asset values are important to the company’s financial stability.

Cash Flow

Cash Flow Hertz consistently generates solid cash inflows from its operations, which indicates that the core rental business still brings in cash. However, the company spends heavily on vehicles and related capital needs, so total investment outflows regularly exceed operating inflows by a wide margin. As a result, free cash flow has been deeply negative for multiple years in a row. This pattern reflects a structurally capital‑intensive model: to grow or even maintain the fleet, Hertz must rely on external financing and vehicle sales rather than internally generated cash alone. Sustained improvement would likely require either better margins, a leaner fleet strategy, or both.

Competitive Edge

Competitive Edge Hertz holds a well‑known global brand with broad airport and off‑airport coverage, which helps it serve both leisure and corporate travelers. Its loyalty program, premium vehicle mix, and services like letting customers choose specific cars and sell used vehicles directly to consumers create some differentiation in a crowded market. Still, car rental remains highly competitive and price‑sensitive, with strong rivals and pressure from ride‑hailing, car‑sharing, and other mobility options. The company’s scale and brand are clear strengths, but they must be balanced against an industry structure that tends to keep pricing power and margins under pressure, especially when fleet costs rise.

Innovation and R&D

Innovation and R&D Hertz is leaning on technology and process improvement as key tools to strengthen its moat. It is using artificial intelligence for vehicle inspections and customer interactions, self‑service kiosks to streamline check‑in, and cloud migration to modernize core systems and enable data‑driven decision‑making. Programs like its Lean‑driven “Lighthouse” initiative and “Back‑to‑Basics Roadmap” are designed to tighten fleet management and cut costs. Strategically, Hertz has been early in testing electric vehicles, connected‑car capabilities, and even partnerships around autonomous fleets, although it has recently pulled back from an overly aggressive EV push after running into higher costs and softer demand. Overall, the company is experimenting and adapting, but the financial benefits of these efforts are still in the proving phase.

Summary

Hertz sits at a crossroads. On one hand, it has a strong global brand, meaningful scale, and a clear effort to modernize through technology, process discipline, and an evolving view of mobility that goes beyond simple car rentals. On the other hand, the most recent year shows sharply weaker profitability, thin equity supporting a large debt load, and a business model that consumes more cash than it generates after fleet investments. The company’s future performance will likely hinge on how well it executes its back‑to‑basics plan, manages fleet costs and mix (including EVs), and turns its innovation and efficiency programs into durable margin improvements. Results may remain volatile as Hertz navigates industry competition, changing travel patterns, and the broader shift toward new forms of mobility.

NEWS

November 4, 2025 · 8:00 AM UTC

Hertz Transformation Drives Record Utilization and Return to EPS Profitability

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October 27, 2025 · 1:20 PM UTC

Halper Sadeh LLC Encourages Hertz Global Holdings, Inc. Shareholders to Contact the Firm to Discuss Their Rights

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October 22, 2025 · 4:30 PM UTC

Hertz Appoints Piero Bussani as Chief Legal Officer

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October 16, 2025 · 7:23 PM UTC

INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Hertz Global Holdings Inc. to Contact Law Firm

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October 3, 2025 · 4:30 PM UTC

Hertz Promotes Mike Moore to Chief Operating Officer

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