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HTZWW

Hertz Global Holdings, Inc.

HTZWW

Hertz Global Holdings, Inc. • NASDAQ
$2.86 ▲ 0.38% (+0.01)
Market Cap $891.21 M
52w High $2.90
52w Low $2.73
Dividend Yield 0%
P/E 2.4
Volume 32.79K
Outstanding Shares 311.61M

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 Q3-2024Q4-2024Q1-2025Q2-2025
International Car Rental
International Car Rental
 $510.00M ▲$410.00M ▼$320.00M ▼$950.00M ▲
US Car Rental
US Car Rental
 $2.06Bn ▲$3.20Bn ▲$2.56Bn ▼$4.99Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Hertz’s revenue has recovered to well above pandemic levels, but profitability has gone sharply backward most recently. After a couple of solidly profitable years, the latest year shows a clear step down: gross profit swung to a loss, operating income turned negative, and the company reported a sizable net loss. This suggests issues with vehicle depreciation, fleet mix (including electric vehicles), and overall cost control. In short, sales are holding up, but the business is currently struggling to convert those sales into sustainable earnings.

Balance Sheet

Balance Sheet The balance sheet is highly leveraged and leaves little room for error. The company carries a very large amount of debt relative to its equity base, which has been squeezed down to a thin layer after the recent loss. Total assets are substantial, reflecting a large vehicle fleet, but cash on hand is modest compared with obligations. This structure is typical for car rental businesses but still means sensitivity to swings in demand, interest rates, and used-vehicle values.

Cash Flow

Cash Flow Hertz continues to generate solid cash flow from its day‑to‑day operations, which is a positive sign for the underlying business model. However, the cash going out to acquire and refresh its fleet is even larger, resulting in consistently negative free cash flow. The company is heavily dependent on external financing and asset-backed funding to support its capital‑intensive model. The key question is whether future operating performance and vehicle resale values can comfortably cover this investment cycle.

Competitive Edge

Competitive Edge Hertz retains strong brand recognition, a large airport footprint, and a multi‑brand strategy that covers both premium and value‑oriented customers. Its loyalty program, premium vehicle offerings, and partnerships with rideshare platforms help it attract higher‑value users and diversify demand. That said, competition is intense, particularly from Enterprise in local rentals and Avis in technology‑enabled offerings. Pricing pressure, customer service quality, and fleet availability remain critical battlegrounds, and Hertz must execute well just to hold its share.

Innovation and R&D

Innovation and R&D The company is pushing technology mainly to streamline operations and improve service rather than through formal research spending. AI‑driven customer support and vehicle inspections, self‑service kiosks, and a more capable mobile app are all aimed at reducing friction and costs. Hertz is also leaning into electric vehicles, connected‑car data, and its own used‑car retail channel as strategic pillars. The opportunity is meaningful, but execution risk is high—especially around managing EV economics, building the right charging and data infrastructure, and keeping pace with peers that are also modernizing quickly.

Summary

Hertz is in the middle of a difficult transition. Operationally, demand has largely come back, but profit margins have deteriorated and the most recent year shows a notable setback with a large loss. The balance sheet is heavily debt‑funded and equity is now quite thin, increasing the company’s exposure to industry swings and execution missteps. On the positive side, Hertz still benefits from a well‑known brand, a sizable global network, and a clear plan focused on tighter fleet discipline and more technology. Going forward, the main watch points are: restoring profitability, managing vehicle depreciation and EV exposure, maintaining access to funding, and successfully executing its “back‑to‑basics” and mobility‑platform strategies in a very competitive market.