Hertz
Rents and sells vehicles through Hertz, Dollar and Thrifty across Americas and international networks.
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Profile
Runs vehicle rental, value-added services, and fleet vehicle sales under Hertz, Dollar and Thrifty. The network is weighted toward the Americas but spans international locations, with results shaped by fleet costs, utilization, residual values, airport concessions, and third-party distribution.
Rents vehicles through the Hertz, Dollar and Thrifty brands, with value-added services such as waivers, protection products, fueling and emergency roadside support. Fleet vehicles also feed Hertz Car Sales and Rent2Buy after their rental use.
Operations are organized as Americas RAC and International RAC. The Americas segment covers the U.S., Canada, Latin America and the Caribbean and is the larger revenue base, while International RAC covers locations outside those regions across a broad franchise and company-operated footprint.
Execution centers on disciplined fleet management, revenue optimization and cost control after the post-bankruptcy relisting. Results depend on rental volume, pricing, vehicle utilization, acquisition costs, residual values, fleet financing, airport concessions, third-party distribution and brand recognition.
Company facts
Categories
Key statistics
Year to date −59.2% · Average volume (30d) 41.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 14, 2026 | Deutsche Bank | Reiterate | Hold | $5 | $2.80 |
| Aug 10, 2026 | Susquehanna | Reiterate | Neutral | $5.50 | $2.50 |
| Jul 28, 2026 | Jefferies | Reiterate | Hold | $6 | $2 |
| Jul 28, 2026 | Barclays | Reiterate | Underweight | $21 | $1 |
| Jul 24, 2026 | Goldman Sachs | Reiterate | Sell | $7 | $2 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.24 | −$0.11 | +54.0% | $2.27B | $2.40B | +5.4% | +29.49% |
| May 7, 2026Q1 FY26 | −$0.76 | −$0.72 | +5.3% | $1.88B | $2.00B | +6.3% | −1.94% |
| Feb 26, 2026Q4 FY25 | −$0.51 | −$0.63 | −22.5% | $1.94B | $2.03B | +4.7% | +0.89% |
| Nov 4, 2025Q3 FY25 | −$0.02 | $0.12 | +700.0% | $2.00B | $2.48B | +24.0% | −0.74% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.81B | $2.19B | $2.48B | $2.03B | $2.00B | $2.40B | |
| Gross profit | $33.0M | $309.0M | $542.0M | $87.0M | $176.0M | $455.0M | |
| Operating income | −$186.0M | $63.0M | $301.0M | −$164.0M | −$59.0M | $171.0M | |
| Net income | −$443.0M | −$294.0M | $184.0M | −$194.0M | −$333.0M | $64.0M | |
| Diluted EPS | −$1.44 | −$0.95 | $0.51 | −$0.62 | −$1.06 | $0.06 | |
| Gross margin | 1.8% | 14.1% | 21.9% | 4.3% | 8.8% | 19.0% | |
| Operating margin | -10.3% | 2.9% | 12.1% | -8.1% | -2.9% | 7.1% |
Fiscal years (4-quarter sums)FY21 $7.34B · FY22 $8.69B · FY23 $9.37B · FY24 $9.05B · FY25 $8.50B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $631.0M · Total debt $21.09B · Total assets $23.87B · Shareholders' equity −$628.0M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 315.73M · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Knighthead Capital Management, LLC | 181.46M | 57.47% | 13F | Aug 14, 2026 |
| CK Amarillo LP | 181.46M | 50.90% | 13D | Aug 24, 2026 |
| TD Securities (USA) LLC | 27.85M | 8.10% | 13G | May 15, 2026 |
| BlackRock, Inc. | 20.28M | 6.42% | 13F | Aug 7, 2026 |
| Jane Street Group, LLC | 15.80M | 5.00% | 13G | Jul 2, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 11, 2026 | Michael S. Moore | officer: EVP, Chief Operating Officer | −40,919 | $6.07 |
| Aug 27, 2025 | Eric Leef | officer: EVP, Chief HR Officer | −21,458 | $5.67 |
Peers
- Avis Budget Group
Direct public rental peer across Avis, Budget, Payless, and Zipcar
- Uber
Rideshare and rental-search substitute for short ground trips
- Lyft
US-led rideshare substitute with bike, scooter, and driver-rental links
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hertz | $2.13 | +0.09% | $675.7M | — | — | 0.1 | +9.7% |
| Avis Budget Group | $138.30 | +0.14% | $4.88B | — | 31.2 | 0.4 | −1.4% |
| Uber | $78.78 | −0.01% | $160.45B | 17.3 | 20.4 | 2.9 | +12.2% |
| Lyft | $17.61 | −0.45% | $6.72B | 2.6 | 16.5 | 1.0 | +16.1% |
| Median | 9.9 | 20.4 | 1.0 | +12.2% |





