Hertz Global Holdings, Inc. (HTZ) quarterly cash flow statement — complete operating, investing & financing history
Hertz Global Holdings, Inc. (HTZ) cash flow statement — 21-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 599M | 381M | 20M | 193M | 835M | 346M | 251M | 414M | 894M | 546M | 370M | 564M | 851M | 497M | 562M | 277M | 932M | 708M | 621M | 598M |
| Operating CF Margin % | 22.89% | 15.9% | 1% | 9.52% | 33.7% | 15.84% | 13.84% | 20.29% | 34.71% | 23.2% | 17.79% | 25.82% | 31.48% | 20.39% | 27.45% | 13.61% | 37.34% | 30.2% | 34.31% | 30.68% |
| Operating CF Growth % | -28.26% | 10.12% | -92.03% | -53.38% | -6.6% | -36.63% | -32.16% | -26.6% | 5.05% | 9.86% | -34.16% | 103.61% | -8.69% | -29.8% | -9.5% | -53.68% | 25.44% | 167.17% | 210.5% | 2292% |
| Net Income | 116M | 64M | -333M | -194M | 184M | -294M | -443M | -479M | -1.33B | -865M | -186M | -348M | 629M | 139M | 196M | 116M | 577M | 940M | 426M | -260M |
| Depreciation & Amortization | 28M | 568M | 563M | 592M | 532M | 487M | 654M | 796M | 1.06B | 1.17B | 1.12B | 981M | 639M | 450M | 515M | 335M | 415M | 215M | 24M | 150M |
| Stock-Based Compensation | 18M | 21M | 17M | 0 | 14M | 16M | 16M | 15M | 16M | 16M | -52M | 22M | 21M | 22M | 21M | 34M | 32M | 36M | 28M | 8M |
| Deferred Taxes | 0 | 13M | 26M | -44M | 0 | 0 | -124M | 0 | 0 | 349M | 0 | -144M | -73M | -28M | 0 | -103M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 32M | -149M | 16M | -127M | 69M | 162M | 66M | -89M | 680M | -108M | -455M | -1M | -280M | 135M | -77M | 30M | -31M | -389M | 102M | 729M |
| Working Capital Changes | 405M | -136M | -269M | -34M | 36M | -25M | 82M | 171M | 471M | -11M | -57M | 54M | -85M | -221M | -93M | -135M | -61M | -94M | 41M | -29M |
| Change in Receivables | 0 | 0 | -73M | 11M | 62M | -127M | 43M | 68M | 156M | -165M | -36M | 167M | -49M | -284M | -50M | -30M | -34M | -157M | -43M | 13M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -113M | -36M | 63M | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 27M | 0 | 46M | -31M | 0 | 21M | 7M | 0 | 0 | 67M | 0 | -75M | 21M | 33M | 0 | 50M | 0 | 0 | 0 | 0 |
| Cash from Investing | 42M | -971M | -1.1B | -273M | -158M | -846M | -718M | 338M | -487M | -2.08B | -703M | 84M | -383M | -2.24B | -1.49B | -760M | -222M | -1.71B | -1.54B | -1.1B |
| Capital Expenditures | 0 | -3.64B | -3.63B | -2.41B | -209M | -3.07B | -2.87B | 332M | -499M | -3.75B | -704M | -1.24B | -1.8B | -3.8B | -1.66B | -2.79B | -226M | -1.72B | -1.54B | -1.11B |
| CapEx % of Revenue | 277.95% | 152.05% | 181.19% | 118.89% | 8.43% | 140.55% | 158.25% | 16.27% | 19.37% | 159.33% | 33.85% | 56.73% | 66.48% | 155.81% | 81.24% | 137.05% | 9.05% | 73.25% | 85.3% | 57.21% |
| Acquisitions | 0 | 0 | 2.53B | 2.14B | 0 | 0 | 0 | 0 | 0 | 1.67B | 0 | 1.32B | 1.41B | -1M | 0 | -1M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 42M | 0 | 0 | 0 | 51M | 2.23B | 2.15B | 6M | 12M | -1M | 1M | 0 | 0 | 1.56B | 175M | 2.03B | 4M | 7M | 3M | 11M |
| Cash from Financing | -824M | 679M | 1.14B | -305M | -256M | 587M | 346M | -498M | -511M | 1.58B | 85M | -520M | -568M | 1.66B | 739M | 368M | -740M | 467M | 392M | -297M |
| Debt Issued (Net) | 0 | 727M | 1.14B | -303M | -189M | 591M | 362M | -489M | -497M | 1.63B | 87M | -471M | -515M | 1.77B | 866M | 699M | -231M | 1.36B | 1.18B | 2.22B |
| Equity Issued (Net) | 0 | 3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -43M | -50M | -104M | -118M | -309M | -505M | -881M | -766M | -654M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -43M | -50M | -104M | -118M | -309M | -505M | -881M | -766M | -654M |
| Other Financing | -824M | -51M | -8M | -2M | -67M | -4M | -16M | -9M | -14M | -43M | -2M | -6M | -3M | -8M | -9M | -22M | -4M | -14M | -25M | -1.86B |
| Net Change in Cash | -181M | 85M | 52M | -382M | 420M | 108M | -112M | 228M | -89M | 49M | -261M | 150M | -110M | -76M | -176M | -90M | -55M | -559M | -529M | -815M |
| Free Cash Flow | 7.87B | -3.26B | -3.61B | -2.22B | 626M | -2.73B | -2.62B | 746M | 395M | -3.2B | -334M | -675M | -946M | -3.3B | -1.1B | -2.51B | 706M | -1.01B | -923M | -517M |
| FCF Margin % | 300.84% | -136.14% | -180.19% | -109.37% | 25.26% | -124.71% | -144.4% | 36.57% | 15.33% | -136.12% | -16.06% | -30.91% | -35% | -135.41% | -53.79% | -123.44% | 28.29% | -43.05% | -50.99% | -26.53% |
| FCF Growth % | 1157.67% | -19.71% | -37.93% | -397.32% | 58.48% | 14.92% | -683.83% | 210.52% | 141.75% | 2.94% | 69.66% | 73.13% | -233.99% | -227.06% | -19.28% | -385.88% | 74.32% | 45.43% | -44.22% | -152.22% |
| FCF per Share | 16.57 | -7.80 | -11.50 | -6.89 | 1.72 | -8.82 | -8.53 | 2.43 | 1.29 | -10.47 | -1.10 | -2.21 | -2.89 | -10.48 | -3.41 | -7.24 | 1.86 | -2.38 | -2.00 | -1.10 |
| FCF Conversion (FCF/Net Income) | 5.16x | 5.95x | -0.06x | -0.99x | 4.54x | -1.18x | -0.57x | -0.86x | -0.67x | -0.63x | -1.99x | -1.62x | 1.35x | 3.58x | 2.87x | 2.39x | 1.62x | 0.75x | 1.46x | -2.30x |
| Interest Paid | 0 | 0 | 273M | 255M | 282M | 204M | 263M | 191M | 205M | 223M | 179M | 210M | 187M | 192M | 132M | 124M | 82M | 110M | 56M | 47M |
| Taxes Paid | 0 | 0 | 10M | 0 | 0 | 47M | 9M | 0 | 0 | 19M | 0 | 6M | 17M | -1M | 0 | 18M | 0 | 0 | 0 | 0 |