Hertz Global Holdings, Inc. (HTZ) 10-Year Financial Performance & Capital Metrics

HTZ • • Industrial / General

IndustrialsRental & LeasingVehicle Rental & LeasingCar Rental Operators

AboutHertz Global Holdings, Inc. operates as a vehicle rental company. It operates through two segments, Americas Rental Car and International Rental Car. The company provides vehicle rental services under the Hertz, Dollar, and Thrifty brands from company-owned, 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 operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets. Hertz Global Holdings, Inc. was founded in 1918 and is headquartered in Estero, Florida.Show more

Revenue $9.05B -3.4%
EBITDA $3.56B +6.4%
Net Income -$2.86B -564.6%
EPS (Diluted) -9.34 -771.9%
Gross Margin 3.13% -83.0%
EBITDA Margin 39.34% +10.2%
Operating Margin -6.21% -175.2%
Net Margin -31.63% -581.1%
ROE -176.39% -921.4%
ROIC -2.21% -171.5%
Debt/Equity 120.31 +1986.1%
Interest Coverage -0.58 -159.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 6.1% through buybacks

✗Weaknesses

✗High debt to equity ratio of 120.3x
✗Negative free cash flow
✗Weak momentum: RS Rating 20 (bottom 20%)
✗Trading more than 30% below 52-week high
✗Expensive at 11.2x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1.97%

5Y-1.54%

3Y7.25%

TTM-7.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM62.21%

EPS CAGR

10Y-

5Y-

3Y-

TTM60.38%

ROCE

10Y Avg3.69%

5Y Avg3.95%

3Y Avg3.96%

Latest-2.8%

Peer Comparison

Car Rental Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HTZHertz Global Holdings, Inc.	1.74B	5.59	-0.60	-3.44%	-12.12%	-176.39%		120.31
CARAvis Budget Group, Inc.	4.38B	124.57	-2.43	-1.82%	-17.95%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.02B	8.8B	8.8B	9.5B	9.78B	5.26B	7.34B	8.69B	9.37B	9.05B
Revenue Growth %	-0.18%	-0.02%	0%	0.08%	0.03%	-0.46%	0.4%	0.18%	0.08%	-0.03%
Cost of Goods Sold+	7.26B	7.2B	7.41B	7.78B	8.05B	5.63B	4.6B	5.65B	7.64B	8.77B
COGS % of Revenue	0.81%	0.82%	0.84%	0.82%	0.82%	1.07%	0.63%	0.65%	0.82%	0.97%
Gross Profit+	1.75B	1.6B	1.39B	1.73B	1.73B	-376M	2.74B	3.03B	1.73B	283M
Gross Margin %	0.19%	0.18%	0.16%	0.18%	0.18%	-0.07%	0.37%	0.35%	0.18%	0.03%
Gross Profit Growth %	-0.15%	-0.09%	-0.13%	0.24%	0%	-1.22%	8.28%	0.11%	-0.43%	-0.84%
Operating Expenses+	950M	989M	982M	1.14B	969M	516M	672M	959M	954M	845M
OpEx % of Revenue	0.11%	0.11%	0.11%	0.12%	0.1%	0.1%	0.09%	0.11%	0.1%	0.09%
Selling, General & Admin	950M	989M	982M	1.14B	969M	516M	672M	959M	954M	845M
SG&A % of Revenue	0.11%	0.11%	0.11%	0.12%	0.1%	0.1%	0.09%	0.11%	0.1%	0.09%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	803M	610M	411M	584M	759M	-892M	2.07B	2.08B	774M	-562M
Operating Margin %	0.09%	0.07%	0.05%	0.06%	0.08%	-0.17%	0.28%	0.24%	0.08%	-0.06%
Operating Income Growth %	-0.14%	-0.24%	-0.33%	0.42%	0.3%	-2.18%	3.32%	0%	-0.63%	-1.73%
EBITDA+	3.35B	3.23B	3.14B	3.35B	3.75B	1.59B	2.87B	3.02B	3.35B	3.56B
EBITDA Margin %	0.37%	0.37%	0.36%	0.35%	0.38%	0.3%	0.39%	0.35%	0.36%	0.39%
EBITDA Growth %	-0.18%	-0.03%	-0.03%	0.07%	0.12%	-0.58%	0.8%	0.05%	0.11%	0.06%
D&A (Non-Cash Add-back)	2.55B	2.62B	2.73B	2.76B	2.99B	2.48B	801M	940M	2.57B	4.12B
EBIT	731M	99M	49M	460M	775M	-1.44B	1.15B	2.9B	1.07B	-2.28B
Net Interest Income+	-599M	-569M	-624M	-717M	-762M	-608M	-469M	-455M	-787M	-961M
Interest Income	23M	0	0	0	0	0	0	0	0	0
Interest Expense	599M	569M	624M	717M	762M	608M	469M	455M	787M	961M
Other Income/Expense	-671M	-1.08B	-986M	-841M	-746M	-1.16B	-1.38B	374M	-488M	-2.67B
Pretax Income+	132M	-470M	-575M	-257M	13M	-2.05B	683M	2.45B	286M	-3.24B
Pretax Margin %	0.01%	-0.05%	-0.07%	-0.03%	0%	-0.39%	0.09%	0.28%	0.03%	-0.36%
Income Tax+	68M	4M	-902M	-30M	63M	-329M	318M	390M	-330M	-375M
Effective Tax Rate %	2.07%	1.04%	-0.57%	0.88%	-4.46%	0.84%	0.54%	0.84%	2.15%	0.88%
Net Income+	273M	-491M	327M	-225M	-58M	-1.71B	366M	2.06B	616M	-2.86B
Net Margin %	0.03%	-0.06%	0.04%	-0.02%	-0.01%	-0.33%	0.05%	0.24%	0.07%	-0.32%
Net Income Growth %	4.33%	-2.8%	1.67%	-1.69%	0.74%	-28.55%	1.21%	4.63%	-0.7%	-5.65%
Net Income (Continuing)	115M	-474M	327M	-227M	-50M	-1.72B	365M	2.06B	616M	-2.86B
Discontinued Operations	158M	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	59M	119M	37M	0	0	0	0
EPS (Diluted)+	3.00	-5.85	3.44	-2.34	-0.43	-11.44	-0.27	3.36	1.39	-9.34
EPS Growth %	17.67%	-2.95%	1.59%	-1.68%	0.82%	-25.6%	0.98%	13.44%	-0.59%	-7.72%
EPS (Basic)	3.03	-5.85	3.44	-2.34	-0.43	-11.44	-0.27	5.43	1.97	-9.34
Diluted Shares Outstanding	103.99M	95.99M	94.85M	95.99M	117M	150M	315M	403M	326M	306M
Basic Shares Outstanding	102.85M	95.99M	94.85M	95.99M	117M	150M	315M	379M	313M	306M
Dividend Payout Ratio	-	-	-	-	-	-	0.65%	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.81B	2.96B	3.56B	3.9B	3.86B	4.45B	4.4B	2.39B	2.4B	2.34B
Cash & Short-Term Investments	486M	816M	1.07B	1.13B	865M	1.1B	2.26B	943M	764M	592M
Cash Only	486M	816M	1.07B	1.13B	865M	1.1B	2.26B	943M	764M	592M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.79B	1.28B	1.36B	1.59B	1.84B	777M	758M	974M	1.19B	1.21B
Days Sales Outstanding	72.3	53.2	56.6	60.95	68.68	53.94	37.71	40.93	46.39	48.6
Inventory	51M	278M	432M	283M	0	0	0	0	0	0
Days Inventory Outstanding	2.56	14.09	21.28	13.28	-	-	-	-	-	-
Other Current Assets	995M	0	0	0	495M	2.22B	393M	475M	442M	541M
Total Non-Current Assets+	19.55B	16.2B	16.5B	17.48B	20.76B	12.45B	15.39B	20.11B	22.21B	19.46B
Property, Plant & Equipment	14.38B	11.68B	12.18B	13.2B	2.63B	2.34B	2.17B	15.02B	17.57B	14.67B
Fixed Asset Turnover	0.63x	0.75x	0.72x	0.72x	3.72x	2.25x	3.37x	0.58x	0.53x	0.62x
Goodwill	1.35B	1.08B	1.08B	1.08B	1.08B	1.04B	1.04B	1.04B	1.04B	1.04B
Intangible Assets	3.82B	3.33B	3.24B	3.2B	3.24B	2.99B	2.91B	2.89B	2.86B	2.85B
Long-Term Investments	0	-2.15B	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	111M	-1.22B	-1.09B	13.81B	6.08B	9.26B	1.16B	726M	894M
Total Assets+	23.36B	19.16B	20.06B	21.38B	24.63B	16.91B	19.78B	22.5B	24.61B	21.8B
Asset Turnover	0.39x	0.46x	0.44x	0.44x	0.40x	0.31x	0.37x	0.39x	0.38x	0.42x
Asset Growth %	-0.03%	-0.18%	0.05%	0.07%	0.15%	-0.31%	0.17%	0.14%	0.09%	-0.11%
Total Current Liabilities+	4.68B	2.31B	2.4B	2.57B	3.76B	3.35B	1.59B	2.74B	3.1B	3.16B
Accounts Payable	766M	821M	946M	988M	943M	685M	572M	657M	701M	642M
Days Payables Outstanding	38.49	41.6	46.6	46.37	42.75	44.38	45.42	42.44	33.48	26.73
Short-Term Debt	3.36B	0	0	0	0	0	0	998M	1.38B	1.19B
Deferred Revenue (Current)	-1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	-388M	-1.15B	-1.08B	-1.44B	1.78B	1.65B	159M	0	0	0
Current Ratio	0.81x	1.28x	1.48x	1.51x	1.03x	1.33x	2.76x	0.87x	0.77x	0.74x
Quick Ratio	0.80x	1.16x	1.30x	1.40x	1.03x	1.33x	2.76x	0.87x	0.77x	0.74x
Cash Conversion Cycle	36.37	25.69	31.28	27.86	-	-	-	-	-	-
Total Non-Current Liabilities+	16.65B	15.77B	16.14B	17.69B	18.98B	13.46B	15.21B	17.12B	18.42B	18.48B
Long-Term Debt	12.88B	10.32B	14.87B	16.32B	3.72B	4.69B	2.99B	12.87B	14.31B	15.14B
Capital Lease Obligations	362M	244M	0	0	1.85B	1.64B	1.51B	1.8B	2.14B	2.07B
Deferred Tax Liabilities	2.88B	2.15B	1.22B	1.09B	0	0	0	1.36B	1.04B	472M
Other Non-Current Liabilities	1.19B	3.06B	57M	272M	13.41B	7.14B	10.72B	1.09B	924M	795M
Total Liabilities	21.34B	18.08B	18.54B	20.26B	22.74B	16.82B	16.81B	19.85B	21.51B	21.65B
Total Debt+	15.91B	13.54B	14.87B	16.32B	5.57B	6.32B	4.5B	15.66B	17.83B	18.41B
Net Debt	15.42B	12.72B	13.79B	15.2B	4.7B	5.23B	2.24B	14.72B	17.07B	17.82B
Debt / Equity	7.88x	12.60x	9.78x	13.85x	2.95x	67.98x	1.51x	5.92x	5.77x	120.31x
Debt / EBITDA	4.75x	4.19x	4.74x	4.88x	1.48x	3.97x	1.57x	5.20x	5.33x	5.17x
Net Debt / EBITDA	4.60x	3.93x	4.40x	4.54x	1.25x	3.28x	0.78x	4.88x	5.10x	5.00x
Interest Coverage	1.34x	1.07x	0.66x	0.81x	1.00x	-1.47x	4.41x	4.56x	0.98x	-0.58x
Total Equity+	2.02B	1.07B	1.52B	1.18B	1.89B	93M	2.98B	2.65B	3.09B	153M
Equity Growth %	-0.18%	-0.47%	0.41%	-0.22%	0.6%	-0.95%	31.01%	-0.11%	0.17%	-0.95%
Book Value per Share	19.42	11.20	16.03	12.28	16.14	0.62	9.45	6.56	9.48	0.50
Total Shareholders' Equity	2.02B	1.07B	1.52B	1.12B	1.77B	56M	2.98B	2.65B	3.09B	153M
Common Stock	4M	1M	1M	1M	1M	2M	5M	5M	5M	5M
Retained Earnings	-391M	-882M	-506M	-909M	-967M	-2.68B	-2.31B	-256M	360M	-2.5B
Treasury Stock	-692M	-100M	-100M	-100M	-100M	-100M	-708M	-3.14B	-3.43B	-3.43B
Accumulated OCI	-245M	-171M	-118M	-192M	-189M	-212M	-214M	-294M	-248M	-316M
Minority Interest	0	0	0	59M	119M	37M	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.33B	2.53B	2.39B	2.56B	2.9B	953M	1.81B	2.54B	2.47B	2.22B
Operating CF Margin %	0.37%	0.29%	0.27%	0.27%	0.3%	0.18%	0.25%	0.29%	0.26%	0.25%
Operating CF Growth %	-0.03%	-0.24%	-0.05%	0.07%	0.13%	-0.67%	0.9%	0.41%	-0.03%	-0.1%
Net Income	273M	-474M	327M	-227M	-50M	-1.72B	365M	2.06B	616M	-2.86B
Depreciation & Amortization	3.04B	2.8B	2.96B	2.76B	2.99B	2.48B	796M	1B	2.57B	4.12B
Stock-Based Compensation	17M	13M	19M	14M	18M	-2M	10M	130M	87M	-5M
Deferred Taxes	3M	-78M	-922M	-66M	27M	-353M	270M	0	-380M	-459M
Other Non-Cash Items	-9M	418M	198M	93M	70M	360M	783M	-335M	-49M	948M
Working Capital Changes	6M	-146M	-190M	-22M	-159M	187M	-418M	-320M	-371M	480M
Change in Receivables	-58M	-174M	-75M	-136M	-88M	195M	-210M	-264M	-216M	23M
Change in Inventory	-22M	-33M	-131M	0	-108M	-21M	0	0	0	0
Change in Payables	-16M	31M	20M	70M	65M	98M	-70M	0	-48M	-14M
Cash from Investing+	-2.77B	-2B	-3.15B	-4.2B	-4.42B	4.59B	-3.54B	-4.23B	-4.02B	-2.93B
Capital Expenditures	-12.98B	-11.09B	-10.77B	-12.67B	-13.94B	-5.64B	-7.22B	-4.25B	-9.7B	-10.63B
CapEx % of Revenue	1.44%	1.26%	1.22%	1.33%	1.43%	1.07%	0.98%	0.49%	1.04%	1.17%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	9.95B	186M	26M	8.5B	9.51B	10.16B	2.81B	15M	-1M	7.7B
Cash from Financing+	-540M	-183M	988M	1.56B	1.47B	-5.37B	2.85B	487M	1.31B	658M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-239M	0	0	-7M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	62M	2.11B	-64M	-8M	-41M	-77M	2.54B	-65M	-50M	-61M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-9.65B	-8.56B	-8.38B	-10.11B	-11.04B	-4.69B	-5.42B	-1.71B	-7.23B	-8.4B
FCF Margin %	-1.07%	-0.97%	-0.95%	-1.06%	-1.13%	-0.89%	-0.74%	-0.2%	-0.77%	-0.93%
FCF Growth %	-0.18%	0.11%	0.02%	-0.21%	-0.09%	0.58%	-0.16%	0.68%	-3.23%	-0.16%
FCF per Share	-92.83	-89.20	-88.30	-105.37	-94.34	-31.25	-17.20	-4.24	-22.17	-27.47
FCF Conversion (FCF/Net Income)	12.21x	-5.15x	7.32x	-11.36x	-50.00x	-0.56x	4.93x	1.23x	4.02x	-0.78x
Interest Paid	561M	527M	582M	665M	703M	0	455M	372M	721M	798M
Taxes Paid	24M	57M	54M	26M	21M	0	40M	0	33M	53M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.18%	-31.74%	25.2%	-16.67%	-3.78%	-173.04%	23.84%	73.25%	21.47%	-176.39%
Return on Invested Capital (ROIC)	3.4%	2.93%	2.12%	2.76%	4.96%	-11.23%	29.43%	13.78%	3.09%	-2.21%
Gross Margin	19.44%	18.16%	15.82%	18.17%	17.67%	-7.15%	37.34%	34.93%	18.44%	3.13%
Net Margin	3.03%	-5.58%	3.71%	-2.37%	-0.59%	-32.6%	4.99%	23.71%	6.57%	-31.63%
Debt / Equity	7.88x	12.60x	9.78x	13.85x	2.95x	67.98x	1.51x	5.92x	5.77x	120.31x
Interest Coverage	1.34x	1.07x	0.66x	0.81x	1.00x	-1.47x	4.41x	4.56x	0.98x	-0.58x
FCF Conversion	12.21x	-5.15x	7.32x	-11.36x	-50.00x	-0.56x	4.93x	1.23x	4.02x	-0.78x
Revenue Growth	-18.37%	-2.37%	0%	7.96%	2.89%	-46.23%	39.52%	18.39%	7.9%	-3.44%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
U.S. Car Rental	6.29B	6.11B	5.99B	6.48B	6.94B	7.75B	6.21B	7.28B	7.72B	7.4B
U.S. Car Rental Growth	-	-2.74%	-1.96%	8.11%	7.07%	11.73%	-19.83%	17.14%	6.07%	-4.20%
International Car Rental	2.15B	2.1B	2.17B	2.28B	2.17B	2.07B	1.12B	1.41B	1.65B	1.65B
International Car Rental Growth	-	-2.37%	3.43%	4.93%	-4.70%	-4.66%	-45.70%	25.11%	17.37%	0.12%
Others	583M	592M	640M	748M	672M	630M	-	-	-	-
Others Growth	-	1.54%	8.11%	16.88%	-10.16%	-6.25%	-	-	-	-
Equipment Rental	1.52B	-	-	-	-	-	-	-	-	-
Equipment Rental Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	8.07B	6.69B	6.62B	7.21B	7.6B	4.27B	6.19B	6.99B	7.39B	7.06B
UNITED STATES Growth	-	-17.06%	-1.05%	8.93%	5.34%	-43.77%	44.84%	12.92%	5.83%	-4.49%
Non-US	-	-	-	-	-	-	1.15B	1.7B	1.98B	1.99B
Non-US Growth	-	-	-	-	-	-	-	47.83%	16.41%	0.51%
Outside United States	2.47B	2.11B	2.18B	2.29B	2.18B	987M	-	-	-	-
Outside United States Growth	-	-14.42%	3.31%	5.04%	-4.80%	-54.79%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Hertz Global Holdings, Inc. (HTZ) reported $8.52B in revenue for fiscal year 2024. This represents a 3% increase from $8.30B in 2011.

Hertz Global Holdings, Inc. (HTZ) saw revenue decline by 3.4% over the past year.

Hertz Global Holdings, Inc. (HTZ) reported a net loss of $1.03B for fiscal year 2024.

Dividend & Returns

Yes, Hertz Global Holdings, Inc. (HTZ) pays a dividend with a yield of 0.41%. This makes it attractive for income-focused investors.

Hertz Global Holdings, Inc. (HTZ) has a return on equity (ROE) of -176.4%. Negative ROE indicates the company is unprofitable.

Hertz Global Holdings, Inc. (HTZ) generated $1.97B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Hertz Global Holdings, Inc. (HTZ) 10-Year Financial Performance & Capital Metrics

HTZ • • Industrial / General

IndustrialsRental & LeasingVehicle Rental & LeasingCar Rental Operators

Revenue $9.05B -3.4%
EBITDA $3.56B +6.4%
Net Income -$2.86B -564.6%
EPS (Diluted) -9.34 -771.9%
Gross Margin 3.13% -83.0%
EBITDA Margin 39.34% +10.2%
Operating Margin -6.21% -175.2%
Net Margin -31.63% -581.1%
ROE -176.39% -921.4%
ROIC -2.21% -171.5%
Debt/Equity 120.31 +1986.1%
Interest Coverage -0.58 -159.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 6.1% through buybacks

✗Weaknesses

✗High debt to equity ratio of 120.3x
✗Negative free cash flow
✗Weak momentum: RS Rating 20 (bottom 20%)
✗Trading more than 30% below 52-week high
✗Expensive at 11.2x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1.97%

5Y-1.54%

3Y7.25%

TTM-7.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM62.21%

EPS CAGR

10Y-

5Y-

3Y-

TTM60.38%

ROCE

10Y Avg3.69%

5Y Avg3.95%

3Y Avg3.96%

Latest-2.8%

Peer Comparison

Car Rental Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HTZHertz Global Holdings, Inc.	1.74B	5.59	-0.60	-3.44%	-12.12%	-176.39%		120.31
CARAvis Budget Group, Inc.	4.38B	124.57	-2.43	-1.82%	-17.95%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.02B	8.8B	8.8B	9.5B	9.78B	5.26B	7.34B	8.69B	9.37B	9.05B
Revenue Growth %	-0.18%	-0.02%	0%	0.08%	0.03%	-0.46%	0.4%	0.18%	0.08%	-0.03%
Cost of Goods Sold+	7.26B	7.2B	7.41B	7.78B	8.05B	5.63B	4.6B	5.65B	7.64B	8.77B
COGS % of Revenue	0.81%	0.82%	0.84%	0.82%	0.82%	1.07%	0.63%	0.65%	0.82%	0.97%
Gross Profit+	1.75B	1.6B	1.39B	1.73B	1.73B	-376M	2.74B	3.03B	1.73B	283M
Gross Margin %	0.19%	0.18%	0.16%	0.18%	0.18%	-0.07%	0.37%	0.35%	0.18%	0.03%
Gross Profit Growth %	-0.15%	-0.09%	-0.13%	0.24%	0%	-1.22%	8.28%	0.11%	-0.43%	-0.84%
Operating Expenses+	950M	989M	982M	1.14B	969M	516M	672M	959M	954M	845M
OpEx % of Revenue	0.11%	0.11%	0.11%	0.12%	0.1%	0.1%	0.09%	0.11%	0.1%	0.09%
Selling, General & Admin	950M	989M	982M	1.14B	969M	516M	672M	959M	954M	845M
SG&A % of Revenue	0.11%	0.11%	0.11%	0.12%	0.1%	0.1%	0.09%	0.11%	0.1%	0.09%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	803M	610M	411M	584M	759M	-892M	2.07B	2.08B	774M	-562M
Operating Margin %	0.09%	0.07%	0.05%	0.06%	0.08%	-0.17%	0.28%	0.24%	0.08%	-0.06%
Operating Income Growth %	-0.14%	-0.24%	-0.33%	0.42%	0.3%	-2.18%	3.32%	0%	-0.63%	-1.73%
EBITDA+	3.35B	3.23B	3.14B	3.35B	3.75B	1.59B	2.87B	3.02B	3.35B	3.56B
EBITDA Margin %	0.37%	0.37%	0.36%	0.35%	0.38%	0.3%	0.39%	0.35%	0.36%	0.39%
EBITDA Growth %	-0.18%	-0.03%	-0.03%	0.07%	0.12%	-0.58%	0.8%	0.05%	0.11%	0.06%
D&A (Non-Cash Add-back)	2.55B	2.62B	2.73B	2.76B	2.99B	2.48B	801M	940M	2.57B	4.12B
EBIT	731M	99M	49M	460M	775M	-1.44B	1.15B	2.9B	1.07B	-2.28B
Net Interest Income+	-599M	-569M	-624M	-717M	-762M	-608M	-469M	-455M	-787M	-961M
Interest Income	23M	0	0	0	0	0	0	0	0	0
Interest Expense	599M	569M	624M	717M	762M	608M	469M	455M	787M	961M
Other Income/Expense	-671M	-1.08B	-986M	-841M	-746M	-1.16B	-1.38B	374M	-488M	-2.67B
Pretax Income+	132M	-470M	-575M	-257M	13M	-2.05B	683M	2.45B	286M	-3.24B
Pretax Margin %	0.01%	-0.05%	-0.07%	-0.03%	0%	-0.39%	0.09%	0.28%	0.03%	-0.36%
Income Tax+	68M	4M	-902M	-30M	63M	-329M	318M	390M	-330M	-375M
Effective Tax Rate %	2.07%	1.04%	-0.57%	0.88%	-4.46%	0.84%	0.54%	0.84%	2.15%	0.88%
Net Income+	273M	-491M	327M	-225M	-58M	-1.71B	366M	2.06B	616M	-2.86B
Net Margin %	0.03%	-0.06%	0.04%	-0.02%	-0.01%	-0.33%	0.05%	0.24%	0.07%	-0.32%
Net Income Growth %	4.33%	-2.8%	1.67%	-1.69%	0.74%	-28.55%	1.21%	4.63%	-0.7%	-5.65%
Net Income (Continuing)	115M	-474M	327M	-227M	-50M	-1.72B	365M	2.06B	616M	-2.86B
Discontinued Operations	158M	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	59M	119M	37M	0	0	0	0
EPS (Diluted)+	3.00	-5.85	3.44	-2.34	-0.43	-11.44	-0.27	3.36	1.39	-9.34
EPS Growth %	17.67%	-2.95%	1.59%	-1.68%	0.82%	-25.6%	0.98%	13.44%	-0.59%	-7.72%
EPS (Basic)	3.03	-5.85	3.44	-2.34	-0.43	-11.44	-0.27	5.43	1.97	-9.34
Diluted Shares Outstanding	103.99M	95.99M	94.85M	95.99M	117M	150M	315M	403M	326M	306M
Basic Shares Outstanding	102.85M	95.99M	94.85M	95.99M	117M	150M	315M	379M	313M	306M
Dividend Payout Ratio	-	-	-	-	-	-	0.65%	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.81B	2.96B	3.56B	3.9B	3.86B	4.45B	4.4B	2.39B	2.4B	2.34B
Cash & Short-Term Investments	486M	816M	1.07B	1.13B	865M	1.1B	2.26B	943M	764M	592M
Cash Only	486M	816M	1.07B	1.13B	865M	1.1B	2.26B	943M	764M	592M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.79B	1.28B	1.36B	1.59B	1.84B	777M	758M	974M	1.19B	1.21B
Days Sales Outstanding	72.3	53.2	56.6	60.95	68.68	53.94	37.71	40.93	46.39	48.6
Inventory	51M	278M	432M	283M	0	0	0	0	0	0
Days Inventory Outstanding	2.56	14.09	21.28	13.28	-	-	-	-	-	-
Other Current Assets	995M	0	0	0	495M	2.22B	393M	475M	442M	541M
Total Non-Current Assets+	19.55B	16.2B	16.5B	17.48B	20.76B	12.45B	15.39B	20.11B	22.21B	19.46B
Property, Plant & Equipment	14.38B	11.68B	12.18B	13.2B	2.63B	2.34B	2.17B	15.02B	17.57B	14.67B
Fixed Asset Turnover	0.63x	0.75x	0.72x	0.72x	3.72x	2.25x	3.37x	0.58x	0.53x	0.62x
Goodwill	1.35B	1.08B	1.08B	1.08B	1.08B	1.04B	1.04B	1.04B	1.04B	1.04B
Intangible Assets	3.82B	3.33B	3.24B	3.2B	3.24B	2.99B	2.91B	2.89B	2.86B	2.85B
Long-Term Investments	0	-2.15B	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	111M	-1.22B	-1.09B	13.81B	6.08B	9.26B	1.16B	726M	894M
Total Assets+	23.36B	19.16B	20.06B	21.38B	24.63B	16.91B	19.78B	22.5B	24.61B	21.8B
Asset Turnover	0.39x	0.46x	0.44x	0.44x	0.40x	0.31x	0.37x	0.39x	0.38x	0.42x
Asset Growth %	-0.03%	-0.18%	0.05%	0.07%	0.15%	-0.31%	0.17%	0.14%	0.09%	-0.11%
Total Current Liabilities+	4.68B	2.31B	2.4B	2.57B	3.76B	3.35B	1.59B	2.74B	3.1B	3.16B
Accounts Payable	766M	821M	946M	988M	943M	685M	572M	657M	701M	642M
Days Payables Outstanding	38.49	41.6	46.6	46.37	42.75	44.38	45.42	42.44	33.48	26.73
Short-Term Debt	3.36B	0	0	0	0	0	0	998M	1.38B	1.19B
Deferred Revenue (Current)	-1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	-388M	-1.15B	-1.08B	-1.44B	1.78B	1.65B	159M	0	0	0
Current Ratio	0.81x	1.28x	1.48x	1.51x	1.03x	1.33x	2.76x	0.87x	0.77x	0.74x
Quick Ratio	0.80x	1.16x	1.30x	1.40x	1.03x	1.33x	2.76x	0.87x	0.77x	0.74x
Cash Conversion Cycle	36.37	25.69	31.28	27.86	-	-	-	-	-	-
Total Non-Current Liabilities+	16.65B	15.77B	16.14B	17.69B	18.98B	13.46B	15.21B	17.12B	18.42B	18.48B
Long-Term Debt	12.88B	10.32B	14.87B	16.32B	3.72B	4.69B	2.99B	12.87B	14.31B	15.14B
Capital Lease Obligations	362M	244M	0	0	1.85B	1.64B	1.51B	1.8B	2.14B	2.07B
Deferred Tax Liabilities	2.88B	2.15B	1.22B	1.09B	0	0	0	1.36B	1.04B	472M
Other Non-Current Liabilities	1.19B	3.06B	57M	272M	13.41B	7.14B	10.72B	1.09B	924M	795M
Total Liabilities	21.34B	18.08B	18.54B	20.26B	22.74B	16.82B	16.81B	19.85B	21.51B	21.65B
Total Debt+	15.91B	13.54B	14.87B	16.32B	5.57B	6.32B	4.5B	15.66B	17.83B	18.41B
Net Debt	15.42B	12.72B	13.79B	15.2B	4.7B	5.23B	2.24B	14.72B	17.07B	17.82B
Debt / Equity	7.88x	12.60x	9.78x	13.85x	2.95x	67.98x	1.51x	5.92x	5.77x	120.31x
Debt / EBITDA	4.75x	4.19x	4.74x	4.88x	1.48x	3.97x	1.57x	5.20x	5.33x	5.17x
Net Debt / EBITDA	4.60x	3.93x	4.40x	4.54x	1.25x	3.28x	0.78x	4.88x	5.10x	5.00x
Interest Coverage	1.34x	1.07x	0.66x	0.81x	1.00x	-1.47x	4.41x	4.56x	0.98x	-0.58x
Total Equity+	2.02B	1.07B	1.52B	1.18B	1.89B	93M	2.98B	2.65B	3.09B	153M
Equity Growth %	-0.18%	-0.47%	0.41%	-0.22%	0.6%	-0.95%	31.01%	-0.11%	0.17%	-0.95%
Book Value per Share	19.42	11.20	16.03	12.28	16.14	0.62	9.45	6.56	9.48	0.50
Total Shareholders' Equity	2.02B	1.07B	1.52B	1.12B	1.77B	56M	2.98B	2.65B	3.09B	153M
Common Stock	4M	1M	1M	1M	1M	2M	5M	5M	5M	5M
Retained Earnings	-391M	-882M	-506M	-909M	-967M	-2.68B	-2.31B	-256M	360M	-2.5B
Treasury Stock	-692M	-100M	-100M	-100M	-100M	-100M	-708M	-3.14B	-3.43B	-3.43B
Accumulated OCI	-245M	-171M	-118M	-192M	-189M	-212M	-214M	-294M	-248M	-316M
Minority Interest	0	0	0	59M	119M	37M	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.33B	2.53B	2.39B	2.56B	2.9B	953M	1.81B	2.54B	2.47B	2.22B
Operating CF Margin %	0.37%	0.29%	0.27%	0.27%	0.3%	0.18%	0.25%	0.29%	0.26%	0.25%
Operating CF Growth %	-0.03%	-0.24%	-0.05%	0.07%	0.13%	-0.67%	0.9%	0.41%	-0.03%	-0.1%
Net Income	273M	-474M	327M	-227M	-50M	-1.72B	365M	2.06B	616M	-2.86B
Depreciation & Amortization	3.04B	2.8B	2.96B	2.76B	2.99B	2.48B	796M	1B	2.57B	4.12B
Stock-Based Compensation	17M	13M	19M	14M	18M	-2M	10M	130M	87M	-5M
Deferred Taxes	3M	-78M	-922M	-66M	27M	-353M	270M	0	-380M	-459M
Other Non-Cash Items	-9M	418M	198M	93M	70M	360M	783M	-335M	-49M	948M
Working Capital Changes	6M	-146M	-190M	-22M	-159M	187M	-418M	-320M	-371M	480M
Change in Receivables	-58M	-174M	-75M	-136M	-88M	195M	-210M	-264M	-216M	23M
Change in Inventory	-22M	-33M	-131M	0	-108M	-21M	0	0	0	0
Change in Payables	-16M	31M	20M	70M	65M	98M	-70M	0	-48M	-14M
Cash from Investing+	-2.77B	-2B	-3.15B	-4.2B	-4.42B	4.59B	-3.54B	-4.23B	-4.02B	-2.93B
Capital Expenditures	-12.98B	-11.09B	-10.77B	-12.67B	-13.94B	-5.64B	-7.22B	-4.25B	-9.7B	-10.63B
CapEx % of Revenue	1.44%	1.26%	1.22%	1.33%	1.43%	1.07%	0.98%	0.49%	1.04%	1.17%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	9.95B	186M	26M	8.5B	9.51B	10.16B	2.81B	15M	-1M	7.7B
Cash from Financing+	-540M	-183M	988M	1.56B	1.47B	-5.37B	2.85B	487M	1.31B	658M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	-239M	0	0	-7M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	62M	2.11B	-64M	-8M	-41M	-77M	2.54B	-65M	-50M	-61M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-9.65B	-8.56B	-8.38B	-10.11B	-11.04B	-4.69B	-5.42B	-1.71B	-7.23B	-8.4B
FCF Margin %	-1.07%	-0.97%	-0.95%	-1.06%	-1.13%	-0.89%	-0.74%	-0.2%	-0.77%	-0.93%
FCF Growth %	-0.18%	0.11%	0.02%	-0.21%	-0.09%	0.58%	-0.16%	0.68%	-3.23%	-0.16%
FCF per Share	-92.83	-89.20	-88.30	-105.37	-94.34	-31.25	-17.20	-4.24	-22.17	-27.47
FCF Conversion (FCF/Net Income)	12.21x	-5.15x	7.32x	-11.36x	-50.00x	-0.56x	4.93x	1.23x	4.02x	-0.78x
Interest Paid	561M	527M	582M	665M	703M	0	455M	372M	721M	798M
Taxes Paid	24M	57M	54M	26M	21M	0	40M	0	33M	53M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.18%	-31.74%	25.2%	-16.67%	-3.78%	-173.04%	23.84%	73.25%	21.47%	-176.39%
Return on Invested Capital (ROIC)	3.4%	2.93%	2.12%	2.76%	4.96%	-11.23%	29.43%	13.78%	3.09%	-2.21%
Gross Margin	19.44%	18.16%	15.82%	18.17%	17.67%	-7.15%	37.34%	34.93%	18.44%	3.13%
Net Margin	3.03%	-5.58%	3.71%	-2.37%	-0.59%	-32.6%	4.99%	23.71%	6.57%	-31.63%
Debt / Equity	7.88x	12.60x	9.78x	13.85x	2.95x	67.98x	1.51x	5.92x	5.77x	120.31x
Interest Coverage	1.34x	1.07x	0.66x	0.81x	1.00x	-1.47x	4.41x	4.56x	0.98x	-0.58x
FCF Conversion	12.21x	-5.15x	7.32x	-11.36x	-50.00x	-0.56x	4.93x	1.23x	4.02x	-0.78x
Revenue Growth	-18.37%	-2.37%	0%	7.96%	2.89%	-46.23%	39.52%	18.39%	7.9%	-3.44%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
U.S. Car Rental	6.29B	6.11B	5.99B	6.48B	6.94B	7.75B	6.21B	7.28B	7.72B	7.4B
U.S. Car Rental Growth	-	-2.74%	-1.96%	8.11%	7.07%	11.73%	-19.83%	17.14%	6.07%	-4.20%
International Car Rental	2.15B	2.1B	2.17B	2.28B	2.17B	2.07B	1.12B	1.41B	1.65B	1.65B
International Car Rental Growth	-	-2.37%	3.43%	4.93%	-4.70%	-4.66%	-45.70%	25.11%	17.37%	0.12%
Others	583M	592M	640M	748M	672M	630M	-	-	-	-
Others Growth	-	1.54%	8.11%	16.88%	-10.16%	-6.25%	-	-	-	-
Equipment Rental	1.52B	-	-	-	-	-	-	-	-	-
Equipment Rental Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	8.07B	6.69B	6.62B	7.21B	7.6B	4.27B	6.19B	6.99B	7.39B	7.06B
UNITED STATES Growth	-	-17.06%	-1.05%	8.93%	5.34%	-43.77%	44.84%	12.92%	5.83%	-4.49%
Non-US	-	-	-	-	-	-	1.15B	1.7B	1.98B	1.99B
Non-US Growth	-	-	-	-	-	-	-	47.83%	16.41%	0.51%
Outside United States	2.47B	2.11B	2.18B	2.29B	2.18B	987M	-	-	-	-
Outside United States Growth	-	-14.42%	3.31%	5.04%	-4.80%	-54.79%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Hertz Global Holdings, Inc. (HTZ) reported $8.52B in revenue for fiscal year 2024. This represents a 3% increase from $8.30B in 2011.

Hertz Global Holdings, Inc. (HTZ) saw revenue decline by 3.4% over the past year.

Hertz Global Holdings, Inc. (HTZ) reported a net loss of $1.03B for fiscal year 2024.

Dividend & Returns

Yes, Hertz Global Holdings, Inc. (HTZ) pays a dividend with a yield of 0.41%. This makes it attractive for income-focused investors.

Hertz Global Holdings, Inc. (HTZ) has a return on equity (ROE) of -176.4%. Negative ROE indicates the company is unprofitable.

Hertz Global Holdings, Inc. (HTZ) generated $1.97B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.