Hertz Global Holdings Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
Whoever buys today bets that the operating turnaround holds even without the used-car tailwind, that the $17 billion debt load and the 8% PIK interest meter do not devour the recovery before it reaches the shareholder, and that a negative, still-falling equity turns back into real substance rather than diluting through new shares. Whoever waits checks four lines in every quarterly report (10-Q): the equity deficit (last −$786 million), the direction of fleet depreciation, the interest burden and the shares outstanding. With negative equity, $17 billion in debt and expensive PIK notes, the drop is long — the decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Hertz is the phoenix trap in pure form: a world-famous brand that already rose from bankruptcy once, with a real operating turnaround (net loss from −$2,862 million to −$747 million, adjusted corporate EBITDA from −$1,541 million to −$339 million, Q1 2026 revenue +10.5 percent) — but with a balance sheet that tips in the middle of that very turnaround: equity slid from +$153 million to −$786 million, debt stands at $17 billion including 8% PIK notes, the $1,077 million interest burden eats half the progress, and the halved loss comes half from normalized fleet depreciation. Whoever invests buys a leveraged bet on a resale and restructuring cycle — carried by a familiar story, not by balance-sheet substance. Not investment advice.
Operating turnaround
The direction is right: net loss narrowed from −$2,862 million (2024) to −$747 million (2025), adjusted corporate EBITDA from −$1,541 million to −$339 million, and Q1 2026 with +10.5 percent revenue and a further narrower loss. The "Back-to-Basics" program is directionally working.
Earnings quality
Half the progress is accounting: fleet depreciation fell by $1.7 billion to $1,927 million (2024: $3,611 million), and the $1,048 million special impairment from 2024 dropped out — both explain the lion's share of the earnings improvement before a single car was rented more often. A used-car price cycle, not a model leap.
Balance sheet & equity
Equity is negative and falling: +$153 million (end of 2024) → −$459 million (end of 2025) → −$786 million (March 31, 2026), against $3,249 million in accumulated losses. The substance erodes as long as losses exceed fresh capital — the most honest single number in the analysis.
Leverage & interest burden
$17,054 million in total debt (vehicle $11,629 + non-vehicle $5,425), including expensive 8.000% second-lien PIK exchangeable notes due 2029, whose interest grows in new notes. The $1,077 million interest expense (2025) exceeded the entire reduction in the net loss — the recovery must first clock the interest meter.
Dilution & volatility
The share count rose from 306.7 to 315.1 million (March 31, 2026), the PIK notes are additionally exchangeable into shares, and the 2021 Reddit meme past makes the price prone to attention-driven, fundamentally unwarranted swings.
Worth Noting
Hertz reached the research list via the Reddit hype scanner (5 mentions in 24 hours, ApeWisdom, as of July 23, 2026) — an echo of the 2021 meme legend, not a fundamental signal. The real test comes from the SEC filings.
Important for classification: today's listed entity (CIK 0001657853) is the new company after the 2021 emergence, not the old entity that went bankrupt in 2020. Old "Hertz" price histories can show an extinguished stock.
The number basis is evergreen: revenue, earnings, equity and debt as of fiscal year 2025 (ended December 31, 2025) resp. March 31, 2026; no daily prices. The net loss refers to Hertz Global Holdings; the operating subsidiary The Hertz Corporation reports slightly different figures (partly due to the public warrants at the holding level).
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at HTZ since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Price history
Chart
Interactive price chart (TradingView).
52-week range: 1.50 $ to 7.80 $ · Last price: 1.90 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Rental & Leasing Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Hertz Global Holdings Inc HTZ | 0.6 | – | 7.1 | 16.3 | -4.1 | -6.0 | -70.0 |
| United Rentals Inc URI | 62.8 | 25.7 | 10.3 | 38.5 | 23.1 | 4.9 | 8.6 |
| Sunbelt Rentals Holdings, Inc. SUNB | 30.3 | 23.0 | 8.6 | 38.7 | 19.9 | 3.4 | – |
| AerCap Holdings NV AER | 22.5 | 7.0 | 11.0 | 62.8 | 57.5 | 2.4 | 19.6 |
| U-Haul Holding Company UHAL | 12.1 | 273.3 | 9.9 | 28.5 | – | 3.6 | 14.9 |
| U-Haul Holding Company UHAL-B | 11.0 | 403.7 | 10.2 | 28.5 | 15.1 | 3.6 | 8.1 |
| Ryder System Inc R | 9.2 | 19.5 | 5.3 | 19.8 | 7.1 | -0.2 | 31.7 |
| GATX Corporation GATX | 6.5 | 19.4 | 13.1 | 73.6 | 29.8 | 9.8 | 8.2 |
| Herc Holdings Inc HRI | 4.8 | – | 7.7 | 31.9 | 9.4 | 22.7 | 10.8 |
| Median of companies shown | 11.0 | 23.0 | 9.9 | 31.9 | 17.5 | 3.6 | 9.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 8,803 | 610 | -491 | -5.12 | 2,529 | 1,075 | 19,155 |
| 2017 | 8,803 | 411 | 327 | 3.45 | 2,394 | 1,520 | 20,058 |
| 2018 | 9,504 | 584 | -225 | -2.34 | 2,556 | 1,120 | 21,382 |
| 2019 | 9,779 | 759 | -58 | -0.50 | 2,900 | 1,769 | 24,627 |
| 2020 | 5,258 | -892 | -1,714 | -11.43 | 953 | 56 | 16,908 |
| 2021 | 7,336 | 2,067 | 366 | 1.16 | 1,806 | 2,977 | 19,783 |
| 2022 | 8,685 | 2,075 | 2,059 | 5.11 | 2,538 | 2,645 | 22,497 |
| 2023 | 9,371 | 774 | 616 | 1.89 | 2,474 | 3,092 | 24,605 |
| 2024 | 9,049 | -562 | -2,862 | -9.35 | 2,224 | 153 | 21,802 |
| 2025 | 8,504 | 14 | -747 | -2.32 | 1,625 | -459 | 22,311 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q2 | -1.44 | -300.00 | 2,353 | -3.40 | -36.80 | 546 | -3,203 |
| 2024: Q3 | -4.34 | -720.00 | 2,576 | -4.70 | -51.70 | 894 | 395 |
| 2024: Q4 | -1.56 | -14.70 | 2,040 | -6.60 | -23.50 | 414 | 82 |
| 2025: Q1 | -1.12 | 12.50 | 1,813 | -12.80 | -24.40 | 251 | -2,618 |
| 2025: Q2 | -0.34 | 76.40 | 2,185 | -7.10 | -13.50 | 346 | -2,725 |
| 2025: Q3 | 0.12 | 102.80 | 2,478 | -3.80 | 7.40 | 835 | 626 |
| 2025: Q4 | -0.63 | 59.60 | 2,028 | -0.60 | -9.60 | 193 | -2,218 |
| 2026: Q1 | -0.72 | 35.70 | 2,004 | 10.50 | -16.60 | 20 | -3,611 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.79 | -0.97 – -0.62 | 9,181 | 61.2% | 8 |
| 12/31/2027 | -0.09 | -0.33 – 0.75 | 9,551 | 88.8% | 8 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Autovermieter ohne KI-Umsatz: Die ausgewerteten Filings nennen KI nur als konditionale „may use/may incorporate“-Absicht und als Boilerplate-Risiko, ohne belegten operativen KI-Einsatz und ohne KI-Umsatzquelle.
View the full file — quotes, sources, reviewed filings
„We may incorporate AI solutions into our business, and we may leverage AI, including generative AI, into our business operations."
Wir könnten KI-Lösungen in unser Geschäft integrieren und KI, einschließlich generativer KI, in unseren Geschäftsbetrieb einbinden.
10-K · 2026-02-26 · View SEC filing
„there are significant risks in using AI, and there can be no assurance that the use of AI will enhance our business or be beneficial to our business operations, including our efficiency or our profitability."
Der Einsatz von KI birgt erhebliche Risiken, und es kann nicht zugesichert werden, dass der Einsatz von KI unser Geschäft verbessert oder unserem Geschäftsbetrieb – einschließlich Effizienz oder Profitabilität – zugutekommt.
10-K · 2026-02-26 · View SEC filing
Filings Reviewed: 10-K 2026-02-26 · 10-Q 2026-05-08 · 10-K 2025-02-18
Rated on July 23, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -0.7%
- More than 10% revenue growth is expected for the coming year -68.8%
- Share count grows by less than 3% a year -7.2%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -107.8%
- Gross margin at 40% or higher and without meaningful erosion 11.4%
- Goodwill from acquisitions does not grow faster than revenue 4.7%
- Net debt below twice EBITDA 7.2 x EBITDA
- Operating cash flow covers the profits of the last three years 9,316 m
- Return on capital at 15% or higher, or up versus two years ago 0.1%
- Insiders hold at least 10% or are net buyers 1.3%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
2/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -0.4%
- Exp. sales growth 3Y > 5% 6.0%
- EBIT growth 10Y > 5% -34.3%
- Exp. EBIT growth 3Y > 5% 6.0%
- Net debt < 4x EBIT 1,287.9x
- EBIT positive, 10Y straight 8
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% 0.1%
- Expected return > 10% -1,626.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
Hertz Global Holdings, Inc. operates as a vehicle rental company. It operates through two segments: Americas RAC and International RAC. The company offers vehicle rental services under the Hertz, Dollar, and Thrifty brands from company-operated, licensee, and franchisee locations in the United States, Africa, Asia, Australia, Canada, the Caribbean, Europe, Latin America, the Middle East, and New Zealand. It also sells vehicles and value-added services. The company was founded in 1918 and is headquartered in Estero, Florida.
- Employees
- 26,000
- Headquarters
- Estero, FL
- Address
- 8501 Williams Road, 33928 Estero, United States
- Phone
- 239 301 7000
- Website
- hertz.com
- IPO Date
- 07/01/2021
- ISIN
- US42806J7000
- Stock Split
- 1151:1000 on 06/21/2019
- Stock Split
- 1:5 on 07/01/2016
Management
| Name | Title | Birth Year |
|---|---|---|
| Wayne Gilbert West | CEO & Director | 1961 |
| Scott M. Haralson | Executive VP & CFO | 1973 |
| Michael S. Moore | COO & EVP | 1966 |
| Christopher G. Berg | Executive VP & Chief Administrative Officer | 1979 |
| Sandeep Dube | Executive VP & Chief Commercial Officer | 1976 |
| Mark Kosman | Senior VP & Chief Accounting Officer | 1965 |
| Piero Bussani | EVP, Chief Legal Officer & Corporate Secretary | 1965 |
| Lauren Fritts | Senior VP & Chief Communications Officer | 1983 |
| Jyoti Chopra | Executive Vice President & Chief Human Resources Officer | 1964 |
| Gregory A. May | Executive Vice President of Fleet Management | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/10/2026 HERTZ GLOBAL HOLDINGS, INC (HTZ): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
- 08/28/2026 HERTZ GLOBAL HOLDINGS, INC (HTZ): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Financial Statements and Exhibits SEC ↗
- 08/20/2026 HERTZ GLOBAL HOLDINGS, INC (HTZ): Entry into a Material Definitive Agreement; Financial Statements and Exhibits SEC ↗
- 08/06/2026 HERTZ GLOBAL HOLDINGS, INC (HTZ): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/23/2026 HERTZ GLOBAL HOLDINGS, INC (HTZ): Other Events SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.