HTZ
HERTZ GLOBAL HOLDINGS, INC
Industrials • CIK: 0001657853
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Market Cap
$1.59B
P/E (TTM)
-2.1x
Rev Growth (TTM)
-6.0%
Net Margin (TTM)
-8.8%
FCF Yield (TTM)
102.0%
FCF Margin (TTM)
19.1%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$1.6B
Q4 '25
$193M-77%
Q3 '25
$835M+141%
FCF Margin
TTM19.1%
Q4 '259.5%-72%
Sector: 5.4%Top 10%
OCF Margin19.1%
OCF/NI-2.18x
CapEx Coverage–
FCF Yield102.0%
FCF Growth (2Y)–
Cash Conversion Cycle
51 days
DSO: 51+DIO: –−DPO: –
Capital Allocation & Returns
Growth Focused
Total Shareholder Yield
TTM0.8%
Div Yield0.8%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.8%
FCF Payout Ratio0.8%
Free Cash Flow (TTM)$1.6B
Stock Repurchases ()$0
Capital Return / FCF0.8%
Est. Dividends Paid (TTM)$13.0M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
-11.1%
Volatile
+0.3% YoY+40.7%
P25MedianP75
25th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
-8.8%
8Q: -18.5%
Asset Turnover
0.38x
8Q: 0.37x
Leverage (1+D/E)
0.99x
D/E: -0.01x
DuPont: -3.3% ≈ -11.1% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
14.50x
8Q:20.97x
-1406.0%
Invested Cap Turn
1.27x
8Q:1.30x
-19.6%
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $8.5B | $2.0B↓18.2% | $2.5B↑13.4% | $2.2B↑20.5% | $1.8B↓11.1% | $2.0B↓20.8% | $2.6B↑9.5% | $2.4B↑13.1% | $2.1B |
Operating Income | $-830.0M | $-223.0M↓195.3% | $234.0M↑174.1% | $-316.0M↑39.8% | $-525.0M↑6.7% | $-563.0M↑65.2% | $-1.6B↓242.5% | $-473.0M↑18.6% | $-581.0M |
Net Income | $-747.0M | $-194.0M↓205.4% | $184.0M↑162.6% | $-294.0M↑33.6% | $-443.0M↑7.5% | $-479.0M↑64.0% | $-1.3B↓54.0% | $-865.0M↓365.1% | $-186.0M |
Operating Cash Flow | $1.6B | $193.0M↓76.9% | $835.0M↑141.3% | $346.0M↑37.8% | $251.0M↓39.4% | $414.0M↓53.7% | $894.0M↑63.7% | $546.0M↑47.6% | $370.0M |
Free Cash Flow | $1.6B | $193.0M↓76.9% | $835.0M↑141.3% | $346.0M↑37.8% | $251.0M↓39.4% | $414.0M↓53.7% | $894.0M↑63.7% | $546.0M↑47.6% | $370.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-2.1x
Volatile
8Q: -2.5x+634%
Valuation Lenses
Earnings
-2.1x
vs – sector
Cash Flow
1.5x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: -11.1%
Shareholder Returns
Dividend
0.8%
Buyback
–
Total Yield
0.8%
Market Cap$1.59B
EV$2.42B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
40/100
Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
2.4%
8Q:–
Return on Invested Capital (ROIC)Below Avg
-11.1%
8Q:–
+40.7%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: -8.8%
Asset Turnover: 0.38x
Earnings Quality
Cash Conversion
-2.18x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover1.27x
Working Capital
Cash Conversion Cycle51 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
44/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-6.0%
OpInc Growth YoY
60.4%
EPS Growth YoY
72.0%
FCF 3Y CAGR
N/A
Growth Quality Analysis
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
—
Operating
-9.8%
Below Avg in sector
Net
-8.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+27.9 pts
FCF: 19.1% | Net: -8.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.16B
Interest Coverage
–
+Net cash position: $1.16B
Leverage Metrics
Debt-to-Equity
-0.01x
Balance sheet risk & solvency analysis