HTZNasdaqServices-Auto Rental & Leasing (No Drivers)US GAAP · USD

Hertz Global Holdings, Inc

Hertz Global Holdings, Inc. is a U.S.-based vehicle rental company whose main operating subsidiary, The Hertz Corporation, rents cars and related mobility vehicles through airport and off-airport locations. The business also sells used vehicles from its rental fleet and offers optional protection products and insurance-related add-ons to renters.

Revenue8,504m USD
−6.0 %y/y
Net income-747m USD
+73.9 %y/y
Free cash flow1,528m USD
−27.9 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

02,0004,0006,0008,00010,000m USD2020: 5,258 m USD20202021: 7,336 m USD20212022: 8,685 m USD20222023: 9,371 m USD20232024: 9,049 m USD20242025: 8,504 m USD20258,504
RevenueOperating profit (EBIT)

Business

Share of revenue
Vehicle rental80 %

Core rental of passenger vehicles through airport and local rental channels.

Used vehicle sales15 %

Disposition of revenue-earning vehicles after rental use through retail and wholesale channels.

Protection and ancillary products5 %

Loss damage waivers, optional insurance coverages, and related renter add-ons.

Customers

Hertz serves leisure travelers, business travelers, and local customers who need temporary access to a vehicle. It also sells to renters who want convenience, reservation reliability, and optional protection products, while used-vehicle buyers absorb fleet disposals. The business is highly dependent on travel demand, airport traffic, and customer willingness to pay for add-ons and coverage.

Leisure travelers

Rent vehicles for vacations and personal travel, especially through airport locations.

Business travelers

Rent vehicles for work trips and time-sensitive mobility needs.

Local and replacement renters

Rent for temporary transportation, repairs, or short-term convenience.

Ancillary product buyers

Purchase loss damage waivers and optional insurance coverages for risk transfer.

Used vehicle buyers

Buy retired fleet vehicles through Hertz's vehicle sales channels.

Strategy

Hertz is focused on maintaining fleet utilization, improving technology enablement, and managing vehicle depreciation and disposal economics. The company is also working to consolidate legacy systems and strengthen cybersecurity and business continuity, because operational reliability directly affects reservations, customer service, and fleet management. Its strategy is constrained by vehicle supply, travel demand, and the need to preserve asset values and financing flexibility.

Increase vehicle utilizationShort term

Higher utilization improves revenue generation from the rentable fleet and supports operating efficiency.

Reduce technology and process fragmentationMedium term

Legacy systems create transaction failures, service disruptions, and higher operating overhead.

Protect fleet economics and asset valuesMedium term

Residual values and depreciation drive profitability in a vehicle rental model.

Geography

Q1/2026

Hertz operates in the United States and in many international jurisdictions, with its business shaped by local rental, insurance, consumer protection, and pricing rules. The company highlights especially active regulatory scrutiny in the U.S., Canada, and Europe, where pricing disclosure and consumer-law requirements can affect how it advertises and charges customers. Its operating footprint also exposes it to travel demand, vehicle supply conditions, and country-specific compliance costs.

United States78 %
Other countries (US filing)22 %

Share of the revenue the company reports by geography.

Risks

Hertz faces operational, regulatory, and technology risks that can quickly disrupt reservations, customer service, fleet management, and vehicle sales. Because the business depends on a large vehicle fleet and sensitive customer data, cybersecurity incidents, system outages, regulatory changes, and weak residual values can all have outsized effects on earnings and cash flow.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Cybersecurity incident or data breach1IT system failure or delayed modernization2
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Cybersecurity incident or data breachImpact: HighLikelihood: Medium

    Hertz collects and stores sensitive customer and payment data, making it vulnerable to unauthorized access and business interruption.

    ExposureCustomer dataReservationsBusiness continuity
  2. IT system failure or delayed modernizationImpact: HighLikelihood: Medium

    Legacy systems and upgrades can cause transaction failures, service disruptions, and higher operating costs.

    ExposureReservationsAccountingFleet managementInternal controls
  3. Residual value and depreciation riskImpact: High

    Fleet economics depend on used-vehicle prices and expected hold periods, which affect depreciation and disposal gains/losses.

    Exposure: Revenue-earning vehicles and used-car sales

  4. Regulatory and consumer-law changesImpact: Medium

    Rental pricing, waivers, insurance add-ons, and advertising are heavily regulated across jurisdictions.

    ExposureUnited StatesCanadaEurope
  5. Travel demand and macro disruptionImpact: Medium

    Rental demand is tied to travel activity and can weaken during economic slowdowns, storms, epidemics, or unrest.

    Exposure: Airport and leisure travel demand

Accounting

Judgemental items
Revenue-earning vehicle depreciation

Depreciation is driven by expected residual values and disposal timing, which can materially affect operating profit.

Impact: Affects rental cost of sales and fleet economics

Self-insured liabilities and claims reserves

Public liability, property damage, and insurance supplement reserves are based on actuarial estimates and claim experience.

Impact: Can move operating expenses and balance sheet liabilities

Goodwill and indefinite-lived intangible impairment

Valuation depends on projected revenues, cash flows, discount rates, and growth assumptions.

Impact: Can create large non-cash charges if assumptions weaken

Business interruption and contingency estimates

Cyber incidents, litigation, taxes, and operational disruptions require judgmental accruals.

Impact: Affects earnings volatility and liquidity assessment

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Hertz Global Holdings, Inc (HTZ) Revenue, Earnings & Financials 2025 – Clarifo