Herc (HRI) Financials

$116.66 +0.46 (+0.39%)

As of 11:25 AM Eastern

Annual Income Statements for Herc

This table shows Herc's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	111	-20	160	69	48	74	224	330	347	211
Consolidated Net Income / (Loss)	111	-20	160	69	48	74	224	330	347	211
Net Income / (Loss) Continuing Operations	111	-20	160	69	48	74	224	330	347	211
Total Pre-Tax Income	157	-4.90	-64	69	64	94	291	434	447	291
Total Operating Income	134	76	74	206	235	191	378	559	663	549
Total Gross Profit	745	702	804	910	951	527	756	1,065	1,866	2,029
Total Revenue	1,678	1,555	1,755	1,977	1,999	1,781	2,073	2,740	3,282	3,568
Operating Revenue	1,678	1,555	1,755	1,977	1,999	1,781	2,073	2,740	3,282	3,568
Total Cost of Revenue	933	853	950	1,067	1,048	1,255	1,317	1,675	1,416	1,539
Operating Cost of Revenue	933	853	950	1,067	1,048	1,255	1,317	1,675	1,416	1,539
Total Operating Expenses	611	626	730	704	717	335	378	506	1,203	1,480
Selling, General & Admin Expense	268	275	319	311	295	257	310	411	448	480
Depreciation Expense	344	351	379	388	409	63	68	95	755	806
Other Special Charges / (Income)	-	-	-	-	-	-	-	0.00	0.00	194
Total Other Income / (Expense), net	23	-81	-139	-137	-171	-97	-87	-125	-216	-258
Interest & Investment Income	-	-	-	-	-	-	-	-122	-224	-260
Other Income / (Expense), net	56	3.20	1.20	0.20	2.40	-4.60	-1.00	-3.00	8.00	2.00
Income Tax Expense	46	15	-225	-0.30	16	20	67	104	100	80
Basic Earnings per Share	$3.69	($0.70)	$5.66	$2.43	$1.66	$2.53	$7.57	$11.15	$12.18	$7.43
Weighted Average Basic Shares Outstanding	30.20M	28.30M	28.30M	28.40M	28.70M	29.10M	29.60M	29.60M	28.50M	28.40M
Diluted Earnings per Share	$3.69	($0.70)	$5.60	$2.39	$1.63	$2.51	$7.37	$10.92	$12.09	$7.40
Weighted Average Diluted Shares Outstanding	30.20M	28.30M	28.60M	28.90M	29.10M	29.40M	30.40M	30.20M	28.70M	28.50M
Weighted Average Basic & Diluted Shares Outstanding	30.20M	28.10M	28.30M	28.40M	28.86M	58.81M	29.70M	29.12M	28.32M	28.46M
Cash Dividends to Common per Share	-	-	-	-	-	-	$0.50	$2.30	$2.53	$2.66

This table shows Herc's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	101	98	67	76	113	91	65	70	122	-46	-18
Consolidated Net Income / (Loss)	101	98	67	76	113	91	65	70	122	-46	-18
Net Income / (Loss) Continuing Operations	101	98	67	76	113	91	65	70	122	-46	-18
Total Pre-Tax Income	135	134	75	103	146	123	81	93	160	-43	-8.00
Total Operating Income	168	179	124	157	203	179	141	156	229	23	53
Total Gross Profit	305	318	256	296	514	800	285	306	385	1,053	278
Total Revenue	745	787	740	802	908	832	804	848	965	951	861
Operating Revenue	745	787	740	802	908	832	804	848	965	951	861
Total Cost of Revenue	440	469	484	506	394	32	519	542	580	-102	583
Operating Cost of Revenue	440	469	484	506	394	32	519	542	580	-102	583
Total Operating Expenses	137	139	132	139	311	621	144	150	156	1,030	225
Selling, General & Admin Expense	112	113	106	111	115	116	115	120	123	122	118
Depreciation Expense	25	26	26	28	196	505	29	30	33	714	33
Restructuring Charge	-	-	-	-	-	-	-	-	-	-	74
Total Other Income / (Expense), net	-33	-45	-49	-54	-57	-56	-60	-63	-69	-66	-61
Interest & Investment Income	-	-	-	-54	-60	-	-	-63	-69	-	-62
Other Income / (Expense), net	0.00	-4.00	-1.00	0.00	3.00	6.00	1.00	0.00	0.00	1.00	1.00
Income Tax Expense	34	36	8.00	27	33	32	16	23	38	3.00	10
Basic Earnings per Share	$3.41	$3.36	$2.31	$2.68	$3.99	$3.20	$2.30	$2.46	$4.30	($1.63)	($0.63)
Weighted Average Basic Shares Outstanding	29.70M	29.60M	29M	28.40M	28.30M	28.50M	28.30M	28.40M	28.40M	28.40M	28.50M
Diluted Earnings per Share	$3.36	$3.26	$2.28	$2.66	$3.96	$3.19	$2.29	$2.46	$4.28	($1.63)	($0.63)
Weighted Average Diluted Shares Outstanding	30.20M	30.20M	29.40M	28.60M	28.50M	28.70M	28.40M	28.50M	28.50M	28.50M	28.50M
Weighted Average Basic & Diluted Shares Outstanding	29.26M	29.12M	28.49M	28.29M	28.27M	28.32M	28.37M	28.39M	28.40M	28.46M	28.50M
Cash Dividends to Common per Share	$0.58	-	$0.63	$0.63	$0.63	-	$0.67	$0.67	$0.67	-	$0.70

This table details how cash moves in and out of Herc's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-3.30	-0.70	-55	-14	5.20	0.00	2.00	19	17	12
Net Cash From Operating Activities	496	433	349	559	636	611	743	917	1,086	1,225
Net Cash From Continuing Operating Activities	496	433	285	559	636	611	743	917	1,086	1,225
Net Income / (Loss) Continuing Operations	111	-20	160	69	48	74	224	330	347	211
Consolidated Net Income / (Loss)	111	-20	160	69	48	74	224	330	347	211
Depreciation Expense	383	390	426	439	463	458	476	600	714	761
Amortization Expense	42	11	11	12	12	11	16	35	45	50
Non-Cash Adjustments To Reconcile Net Income	-24	50	76	67	132	60	22	43	-33	194
Changes in Operating Assets and Liabilities, net	-17	2.10	-388	-28	-20	7.00	5.00	-91	13	9.00
Net Cash From Investing Activities	-390	-395	-410	-567	-464	-208	-960	-1,682	-1,581	-1,511
Net Cash From Continuing Investing Activities	-390	-395	-410	-567	-464	-208	-960	-1,682	-1,581	-1,511
Purchase of Property, Plant & Equipment	-677	-516	-576	-849	-695	-386	-641	-1,272	-1,476	-1,209
Acquisitions	-	-	-	0.00	-4.20	-46	-431	-515	-430	-600
Sale of Property, Plant & Equipment	158	5.70	166	282	7.70	199	112	7.00	15	10
Other Investing Activities, net	2.70	115	0.00	0.00	228	0.00	0.00	98	310	288
Net Cash From Financing Activities	-105	-39	70	-4.20	-167	-406	220	785	512	299
Net Cash From Continuing Financing Activities	-105	-39	70	-4.20	-167	-406	220	785	512	299
Repayment of Debt	-2,219	-935	-613	-750	-2,584	-939	-893	-1,624	-1,388	-2,408
Repurchase of Common Equity	-605	-	-	-	-	0.00	0.00	-115	-120	0.00
Payment of Dividends	1,003	-2,072	-	-	0.00	0.00	-15	-68	-73	-77
Issuance of Debt	1,865	3,026	562	738	2,430	528	1,132	2,618	2,127	2,808
Issuance of Common Equity	199	0.00	1.10	2.00	2.40	2.30	3.00	4.00	4.00	5.00
Other Financing Activities, net	-349	-58	120	5.80	-15	2.60	-7.00	-30	-38	-29
Effect of Exchange Rate Changes	-4.30	-0.40	-	-	0.30	-	-	-1.00	0.00	-1.00
Cash Interest Paid	28	71	132	129	131	92	83	114	221	258
Cash Income Taxes Paid	10	2.90	-5.50	13	7.90	5.00	23	22	30	12

This table details how cash moves in and out of Herc's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	5.00	-3.00	-14	-3.00	34	-	-8.00	7.00	72	-59	-35
Net Cash From Operating Activities	264	294	235	281	280	290	240	318	336	331	171
Net Cash From Continuing Operating Activities	264	294	235	281	280	290	240	318	336	331	171
Net Income / (Loss) Continuing Operations	101	98	67	76	113	91	65	70	122	-46	-18
Consolidated Net Income / (Loss)	101	98	67	76	113	91	65	70	122	-46	-18
Depreciation Expense	156	164	169	178	186	181	179	185	195	202	194
Amortization Expense	10	10	10	12	11	12	11	11	13	15	12
Non-Cash Adjustments To Reconcile Net Income	8.00	18	-8.00	-5.00	-	-20	-6.00	-	7.00	193	-9.00
Changes in Operating Assets and Liabilities, net	-11	4.00	-3.00	20	-30	26	-9.00	52	-1.00	-33	-8.00
Net Cash From Investing Activities	-442	-366	-451	-479	-394	-257	-296	-404	-543	-268	-133
Net Cash From Continuing Investing Activities	-442	-366	-451	-479	-394	-257	-296	-404	-543	-268	-133
Purchase of Property, Plant & Equipment	-339	-349	-365	-415	-439	-257	-211	-328	-341	-329	-220
Acquisitions	-124	-74	-138	-134	-60	-98	-148	-142	-277	-33	-11
Sale of Property, Plant & Equipment	68	-64	3.00	3.00	5.00	4.00	2.00	2.00	200	-194	4.00
Other Investing Activities, net	-47	121	49	67	100	94	61	64	-125	288	94
Net Cash From Financing Activities	184	69	202	195	148	-33	48	93	279	-121	-73
Net Cash From Continuing Financing Activities	184	69	202	195	148	-33	48	93	279	-121	-73
Repayment of Debt	-962	-376	-347	-372	-297	-372	-302	-1,140	-403	-563	-561
Payment of Dividends	-17	-17	-20	-18	-18	-17	-20	-19	-19	-19	-21
Issuance of Debt	1,207	538	640	650	465	372	385	1,255	690	478	520
Issuance of Common Equity	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	2.00	1.00
Other Financing Activities, net	8.00	-15	-28	-3.00	-3.00	-4.00	-16	-4.00	10	-19	-12
Effect of Exchange Rate Changes	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Cash Interest Paid	46	22	63	37	75	46	78	45	71	64	66
Cash Income Taxes Paid	6.00	6.00	1.00	3.00	17	9.00	3.00	6.00	3.00	-	2.00

This table presents Herc's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	3,397	3,466	3,550	3,610	3,817	3,588	4,490	5,957	7,061	7,877
Total Current Assets	362	372	475	400	400	367	470	644	732	776
Cash & Equivalents	16	24	42	28	33	33	35	54	71	83
Accounts Receivable	288	293	386	332	307	301	388	523	563	589
Prepaid Expenses	11	23	23	40	29	33	47	67	30	47
Other Current Assets	-	-	-	0.00	31	-	-	-	47	40
Other Current Nonoperating Assets	-	-	-	-	-	-	-	0.00	21	17
Plant, Property, & Equipment, net	247	2,662	2,661	2,787	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,789	432	414	423	3,417	3,221	4,021	5,313	6,329	7,101
Goodwill	91	91	91	91	94	101	232	419	483	670
Intangible Assets	301	304	284	294	292	296	389	431	467	572
Other Noncurrent Operating Assets	15	35	39	38	3,032	2,825	3,401	4,463	4,971	5,639
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	0.00	408	220
Total Liabilities & Shareholders' Equity	3,397	3,466	3,550	3,610	3,817	3,588	4,490	5,957	7,061	7,877
Total Liabilities	1,095	3,148	3,039	3,038	3,173	2,846	3,514	4,849	5,788	6,481
Total Current Liabilities	282	243	291	299	323	328	530	604	508	562
Short-Term Debt	83	16	25	30	30	16	15	16	19	21
Accounts Payable	110	139	152	147	127	126	281	318	212	248
Accrued Expenses	48	88	113	122	136	154	195	228	221	239
Other Current Liabilities	-	-	-	0.00	31	32	39	42	37	39
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	0.00	19	15
Total Noncurrent Liabilities	813	2,905	2,749	2,738	2,850	2,518	2,984	4,245	5,280	5,919
Long-Term Debt	53	2,179	2,137	2,130	2,052	1,652	1,916	2,922	3,673	4,069
Noncurrent Deferred & Payable Income Tax Liabilities	727	695	463	448	459	474	537	647	743	800
Other Noncurrent Operating Liabilities	32	32	36	44	339	393	531	676	796	990
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	0.00	68	60
Commitments & Contingencies	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,302	318	510	573	644	742	977	1,108	1,273	1,396
Total Preferred & Common Equity	2,302	318	510	573	644	742	977	1,108	1,273	1,396
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,302	318	510	573	644	742	977	1,108	1,273	1,396
Common Stock	3,735	1,754	1,763	1,778	1,797	1,819	1,823	1,820	1,820	1,832
Retained Earnings	-606	-625	-462	-391	-351	-278	-53	224	498	633
Treasury Stock	-692	-692	-692	-692	-692	-692	-692	-807	-927	-927
Accumulated Other Comprehensive Income / (Loss)	-135	-119	-99	-122	-110	-107	-100	-129	-118	-142

This table presents Herc's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	5,684	6,276	6,695	6,893	7,207	7,575	8,172	7,705
Total Current Assets	635	625	644	729	717	717	851	709
Cash & Equivalents	57	40	37	71	63	70	142	48
Accounts Receivable	519	514	541	595	560	570	623	554
Prepaid Expenses	59	71	66	63	67	55	66	69
Other Current Assets	-	-	-	-	-	-	-	20
Other Current Nonoperating Assets	-	-	-	-	27	22	20	18
Plant, Property, & Equipment, net	0.00	415	0.00	0.00	486	0.00	0.00	567
Total Noncurrent Assets	5,049	5,236	6,051	6,164	6,004	6,858	7,321	6,429
Goodwill	379	460	492	508	537	590	659	682
Intangible Assets	425	447	468	468	496	514	572	564
Other Noncurrent Operating Assets	4,246	4,329	5,091	5,188	4,562	5,342	5,675	4,962
Other Noncurrent Nonoperating Assets	-	-	-	-	409	412	415	221
Total Liabilities & Shareholders' Equity	5,684	6,276	6,695	6,893	7,207	7,575	8,172	7,705
Total Liabilities	4,601	5,189	5,593	5,694	5,899	6,213	6,695	6,347
Total Current Liabilities	584	593	655	538	474	585	697	474
Short-Term Debt	15	16	16	18	19	19	20	22
Accounts Payable	327	348	363	247	201	286	360	161
Accrued Expenses	201	186	233	230	194	221	258	237
Other Current Liabilities	42	43	43	43	37	38	38	39
Other Current Nonoperating Liabilities	-	-	-	-	23	21	21	15
Total Noncurrent Liabilities	4,017	4,596	4,938	5,156	5,425	5,628	5,998	5,873
Long-Term Debt	2,762	3,215	3,493	3,665	3,753	3,864	4,163	4,026
Noncurrent Deferred & Payable Income Tax Liabilities	612	655	673	693	750	761	799	771
Other Noncurrent Operating Liabilities	643	726	772	798	856	940	975	1,018
Other Noncurrent Nonoperating Liabilities	-	-	-	-	66	63	61	58
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,083	1,087	1,102	1,199	1,308	1,362	1,477	1,358
Total Preferred & Common Equity	1,083	1,087	1,102	1,199	1,308	1,362	1,477	1,358
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,083	1,087	1,102	1,199	1,308	1,362	1,477	1,358
Common Stock	1,812	1,801	1,808	1,816	1,815	1,821	1,829	1,832
Retained Earnings	143	272	330	425	544	595	698	595
Treasury Stock	-751	-859	-914	-914	-927	-927	-927	-927
Accumulated Other Comprehensive Income / (Loss)	-121	-127	-122	-128	-124	-127	-123	-142

This table displays calculated financial ratios and metrics derived from Herc's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.21%	-7.35%	12.84%	12.66%	1.13%	-10.89%	16.38%	32.18%	19.78%	8.71%
EBITDA Growth	1.32%	-21.94%	6.71%	28.20%	8.45%	-7.85%	32.37%	37.05%	20.07%	-4.76%
EBIT Growth	2.10%	-58.22%	-4.67%	172.22%	15.21%	-21.26%	101.93%	47.48%	20.68%	-17.88%
NOPAT Growth	-15.91%	-43.83%	-2.23%	296.50%	-15.11%	-14.52%	94.20%	46.08%	21.09%	-22.66%
Net Income Growth	24.08%	-117.70%	913.71%	-56.89%	-31.26%	55.16%	203.93%	47.32%	5.15%	-39.19%
EPS Growth	24.08%	-118.97%	900.00%	-57.32%	-31.80%	53.99%	193.63%	48.17%	10.71%	-38.79%
Operating Cash Flow Growth	5.78%	-12.67%	-19.45%	60.15%	13.68%	-3.89%	21.62%	23.42%	18.43%	12.80%
Free Cash Flow Firm Growth	1,176.35%	-100.14%	-918.91%	161.45%	133.51%	53.99%	-144.10%	-237.10%	93.47%	-541.91%
Invested Capital Growth	-86.16%	3.07%	10.61%	2.79%	-4.53%	-11.77%	20.91%	38.94%	14.03%	15.14%
Revenue Q/Q Growth	149.24%	423.45%	5.19%	2.70%	96.10%	-36.02%	2.85%	8.26%	1.39%	3.45%
EBITDA Q/Q Growth	129.24%	-4.25%	7.74%	2.83%	3,857.78%	-51.56%	7.95%	9.27%	2.07%	-9.14%
EBIT Q/Q Growth	145.33%	-23.01%	84.39%	6.74%	152.64%	-78.76%	14.14%	12.28%	1.51%	-22.61%
NOPAT Q/Q Growth	133.90%	66.33%	93.25%	-77.85%	141.75%	-76.21%	14.45%	10.81%	0.43%	-25.85%
Net Income Q/Q Growth	210.31%	-113.74%	338.54%	-72.37%	109.13%	-88.47%	19.28%	8.66%	-1.98%	-39.37%
EPS Q/Q Growth	210.31%	-113.81%	336.29%	-72.78%	0.00%	0.00%	18.30%	8.98%	-0.58%	-39.44%
Operating Cash Flow Q/Q Growth	126.36%	-11.59%	10.44%	18.83%	1.65%	-1.21%	7.67%	6.28%	-0.37%	3.46%
Free Cash Flow Firm Q/Q Growth	181.81%	-100.13%	-617.22%	-74.99%	181.14%	-47.87%	-224.28%	5.96%	90.85%	-259.11%
Invested Capital Q/Q Growth	-86.74%	1.86%	10.12%	-2.89%	-5.79%	-8.36%	7.13%	4.96%	-5.38%	1.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.39%	45.14%	45.83%	46.01%	47.59%	29.56%	36.47%	38.87%	56.86%	56.87%
EBITDA Margin	36.66%	30.89%	29.20%	33.23%	35.64%	36.86%	41.92%	43.47%	43.57%	38.17%
Operating Margin	7.97%	4.89%	4.24%	10.40%	11.74%	10.74%	18.23%	20.40%	20.20%	15.39%
EBIT Margin	11.31%	5.10%	4.31%	10.41%	11.86%	10.48%	18.19%	20.29%	20.44%	15.44%
Profit (Net Income) Margin	6.63%	-1.27%	9.14%	3.50%	2.38%	4.14%	10.81%	12.04%	10.57%	5.91%
Tax Burden Percent	70.94%	402.04%	-248.91%	100.44%	74.69%	78.32%	76.98%	76.04%	77.63%	72.51%
Interest Burden Percent	82.67%	-6.18%	-85.19%	33.43%	26.82%	50.40%	77.19%	78.06%	66.62%	52.81%
Effective Tax Rate	29.06%	0.00%	0.00%	-0.44%	25.31%	21.68%	23.02%	23.96%	22.37%	27.49%
Return on Invested Capital (ROIC)	0.96%	2.18%	1.99%	7.42%	6.36%	5.91%	11.09%	12.38%	12.05%	8.13%
ROIC Less NNEP Spread (ROIC-NNEP)	1.18%	-4.25%	6.92%	1.29%	0.41%	1.78%	7.29%	8.41%	6.61%	2.88%
Return on Net Nonoperating Assets (RNNOA)	3.71%	-3.68%	36.72%	5.34%	1.45%	4.72%	14.98%	19.27%	17.10%	7.68%
Return on Equity (ROE)	4.67%	-1.50%	38.72%	12.76%	7.81%	10.63%	26.06%	31.66%	29.15%	15.81%
Cash Return on Invested Capital (CROIC)	152.34%	-0.85%	-8.08%	4.66%	10.99%	18.41%	-7.84%	-20.21%	-1.06%	-5.94%
Operating Return on Assets (OROA)	1.39%	2.31%	2.16%	5.75%	6.38%	5.04%	9.33%	10.64%	10.31%	7.38%
Return on Assets (ROA)	0.81%	-0.57%	4.57%	1.93%	1.28%	1.99%	5.55%	6.32%	5.33%	2.83%
Return on Common Equity (ROCE)	4.67%	-1.50%	38.72%	12.76%	7.81%	10.63%	26.06%	31.66%	29.15%	15.81%
Return on Equity Simple (ROE_SIMPLE)	4.83%	-6.20%	31.41%	12.07%	7.37%	9.93%	22.93%	29.78%	27.26%	15.11%
Net Operating Profit after Tax (NOPAT)	95	53	52	206	175	150	291	425	515	398
NOPAT Margin	5.65%	3.43%	2.97%	10.45%	8.77%	8.41%	14.04%	15.51%	15.68%	11.16%
Net Nonoperating Expense Percent (NNEP)	-0.22%	6.43%	-4.92%	6.13%	5.95%	4.13%	3.79%	3.98%	5.44%	5.25%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.51%	10.37%	7.26%
Cost of Revenue to Revenue	55.61%	54.86%	54.17%	53.99%	52.41%	70.44%	63.53%	61.13%	43.14%	43.13%
SG&A Expenses to Revenue	15.95%	17.71%	18.19%	15.75%	14.75%	14.45%	14.95%	15.00%	13.65%	13.45%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.43%	40.25%	41.59%	35.61%	35.85%	18.82%	18.23%	18.47%	36.65%	41.48%
Earnings before Interest and Taxes (EBIT)	190	79	76	206	237	187	377	556	671	551
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	615	480	512	657	712	657	869	1,191	1,430	1,362
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	3.40	3.31	1.23	2.08	2.49	4.53	3.35	3.25	3.85
Price to Tangible Book Value (P/TBV)	0.00	0.00	12.46	3.74	5.17	5.34	12.41	14.37	12.81	34.92
Price to Revenue (P/Rev)	0.00	0.70	0.96	0.36	0.67	1.04	2.14	1.35	1.26	1.51
Price to Earnings (P/E)	0.00	0.00	10.53	10.19	28.23	25.04	19.76	11.23	11.92	25.49
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.34%	1.82%	1.73%	1.41%
Earnings Yield	0.00%	0.00%	9.49%	9.81%	3.54%	3.99%	5.06%	8.90%	8.39%	3.92%
Enterprise Value to Invested Capital (EV/IC)	0.00	1.31	1.43	1.05	1.26	1.46	2.20	1.65	1.70	1.79
Enterprise Value to Revenue (EV/Rev)	0.00	2.09	2.24	1.49	1.70	1.95	3.05	2.41	2.36	2.63
Enterprise Value to EBITDA (EV/EBITDA)	0.00	6.76	7.66	4.49	4.76	5.30	7.28	5.53	5.43	6.89
Enterprise Value to EBIT (EV/EBIT)	0.00	40.91	51.89	14.35	14.30	18.64	16.77	11.85	11.56	17.03
Enterprise Value to NOPAT (EV/NOPAT)	0.00	60.90	75.32	14.30	19.34	23.22	21.73	15.50	15.07	23.58
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	7.49	11.24	5.28	5.33	5.70	8.51	7.19	7.14	7.66
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	22.75	11.18	7.46	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	6.91	4.46	3.97	3.23	2.25	1.98	2.65	2.90	2.93
Long-Term Debt to Equity	0.02	6.86	4.41	3.92	3.18	2.23	1.96	2.64	2.89	2.91
Financial Leverage	3.16	0.87	5.31	4.14	3.53	2.66	2.05	2.29	2.59	2.67
Leverage Ratio	5.75	2.62	8.47	6.61	6.10	5.34	4.70	5.01	5.47	5.60
Compound Leverage Factor	4.75	-0.16	-7.22	2.21	1.64	2.69	3.63	3.91	3.64	2.96
Debt to Total Capital	5.61%	87.35%	81.68%	79.90%	76.37%	69.20%	66.41%	72.61%	74.36%	74.55%
Short-Term Debt to Total Capital	3.42%	0.63%	0.91%	1.05%	1.12%	0.66%	0.52%	0.40%	0.38%	0.38%
Long-Term Debt to Total Capital	2.19%	86.73%	80.77%	78.85%	75.25%	68.55%	65.89%	72.22%	73.98%	74.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	94.39%	12.65%	18.32%	20.10%	23.63%	30.80%	33.59%	27.39%	25.64%	25.45%
Debt to EBITDA	0.22	4.57	4.44	3.46	2.92	2.54	2.22	2.47	2.58	3.00
Net Debt to EBITDA	0.17	4.51	4.36	3.42	2.88	2.49	2.18	2.42	2.53	2.94
Long-Term Debt to EBITDA	0.09	4.54	4.39	3.42	2.88	2.52	2.20	2.45	2.57	2.99
Debt to NOPAT	1.44	41.19	43.69	11.02	11.88	11.13	6.64	6.91	7.17	10.27
Net Debt to NOPAT	1.11	40.61	42.89	10.89	11.69	10.91	6.52	6.79	7.04	10.07
Long-Term Debt to NOPAT	0.56	40.90	43.20	10.88	11.70	11.02	6.59	6.87	7.14	10.22
Altman Z-Score	0.00	0.52	0.78	0.76	0.88	0.96	1.46	1.29	1.34	1.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	1.53	1.63	1.34	1.24	1.12	0.89	1.07	1.44	1.38
Quick Ratio	1.08	1.31	1.47	1.20	1.05	1.02	0.80	0.96	1.25	1.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	15,084	-21	-211	130	303	467	-206	-694	-45	-291
Operating Cash Flow to CapEx	95.63%	84.91%	85.15%	98.61%	92.44%	327.74%	140.45%	72.49%	74.33%	102.17%
Free Cash Flow to Firm to Interest Expense	458.48	-0.25	-1.51	0.95	1.75	5.04	-2.39	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	15.09	5.15	2.49	4.08	3.66	6.60	8.64	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-0.69	-0.91	-0.44	-0.06	-0.30	4.58	2.49	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.45	0.50	0.55	0.54	0.48	0.51	0.52	0.50	0.48
Accounts Receivable Turnover	1.78	5.35	5.16	5.50	6.26	5.86	6.01	6.01	6.04	6.19
Inventory Turnover	20.90	36.76	39.77	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.22	1.07	0.66	0.73	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	1.67	6.86	6.53	7.14	7.66	9.95	6.48	5.60	5.34	6.69
Days Sales Outstanding (DSO)	204.97	68.21	70.69	66.35	58.35	62.28	60.68	60.68	60.39	58.92
Days Inventory Outstanding (DIO)	17.46	9.93	9.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	218.54	53.17	55.88	51.13	47.65	36.70	56.32	65.22	68.31	54.55
Cash Conversion Cycle (CCC)	3.89	24.96	23.99	15.22	10.70	25.58	4.37	-4.54	-7.92	4.38
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,407	2,481	2,744	2,821	2,693	2,376	2,873	3,992	4,552	5,241
Invested Capital Turnover	0.17	0.64	0.67	0.71	0.73	0.70	0.79	0.80	0.77	0.73
Increase / (Decrease) in Invested Capital	-14,989	74	263	77	-128	-317	497	1,119	560	689
Enterprise Value (EV)	0.00	3,244	3,923	2,952	3,390	3,479	6,322	6,590	7,758	9,385
Market Capitalization	0.00	1,081	1,689	704	1,341	1,845	4,426	3,706	4,137	5,378
Book Value per Share	$5.18	$11.22	$17.99	$20.10	$22.35	$25.39	$32.94	$37.87	$45.03	$49.15
Tangible Book Value per Share	$4.30	($2.73)	$4.78	$6.60	$8.99	$11.83	$12.03	$8.82	$11.43	$5.42
Total Capital	2,439	2,512	2,786	2,849	2,726	2,409	2,908	4,046	4,965	5,486
Total Debt	137	2,194	2,275	2,276	2,082	1,667	1,931	2,938	3,692	4,090
Total Long-Term Debt	53	2,179	2,250	2,246	2,052	1,652	1,916	2,922	3,673	4,069
Net Debt	105	2,163	2,234	2,248	2,049	1,634	1,896	2,884	3,621	4,007
Capital Expenditures (CapEx)	519	510	410	567	688	186	529	1,265	1,461	1,199
Debt-free, Cash-free Net Working Capital (DFCFNWC)	131	114	168	103	74	22	-80	2.00	172	152
Debt-free Net Working Capital (DFNWC)	163	145	209	131	107	55	-45	56	243	235
Net Working Capital (NWC)	79	129	184	101	77	39	-60	40	224	214
Net Nonoperating Expense (NNE)	-16	73	-108	137	128	76	67	95	168	187
Net Nonoperating Obligations (NNO)	105	2,163	2,234	2,248	2,049	1,634	1,896	2,884	3,279	3,845
Total Depreciation and Amortization (D&A)	425	401	437	451	475	470	492	635	759	811
Debt-free, Cash-free Net Working Capital to Revenue	7.80%	7.30%	9.56%	5.23%	3.70%	1.23%	-3.86%	0.07%	5.24%	4.26%
Debt-free Net Working Capital to Revenue	9.69%	9.29%	11.92%	6.63%	5.35%	3.08%	-2.17%	2.04%	7.40%	6.59%
Net Working Capital to Revenue	4.72%	8.28%	10.48%	5.12%	3.83%	2.20%	-2.90%	1.46%	6.83%	6.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.12	($0.70)	$5.66	$2.43	$1.66	$2.53	$7.57	$11.15	$12.18	$7.43
Adjusted Weighted Average Basic Shares Outstanding	2.31B	28.30M	28.30M	28.40M	28.70M	29.10M	29.60M	29.60M	28.50M	28.40M
Adjusted Diluted Earnings per Share	$0.12	($0.70)	$5.60	$2.39	$1.63	$2.51	$7.37	$10.92	$12.09	$7.40
Adjusted Weighted Average Diluted Shares Outstanding	2.33B	28.30M	28.60M	28.90M	29.10M	29.40M	30.40M	30.20M	28.70M	28.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.16B	28.32M	28.40M	28.52M	28.86M	58.81M	29.70M	29.12M	28.32M	28.46M
Normalized Net Operating Profit after Tax (NOPAT)	95	53	74	147	185	162	291	425	515	539
Normalized NOPAT Margin	5.65%	3.43%	4.23%	7.46%	9.25%	9.09%	14.04%	15.51%	15.68%	15.10%
Pre Tax Income Margin	9.35%	-0.32%	-3.67%	3.48%	3.18%	5.28%	14.04%	15.84%	13.62%	8.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.77	0.94	0.54	1.50	1.37	2.02	4.38	0.00	0.00	0.00
NOPAT to Interest Expense	2.88	0.63	0.37	1.51	1.01	1.62	3.38	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-10.01	-5.12	-2.39	-2.64	-2.60	0.00	-1.77	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-12.89	-5.43	-2.56	-2.63	-2.95	-0.39	-2.77	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-901.17%	-10,517.26%	0.00%	0.00%	0.00%	0.00%	6.70%	20.61%	21.04%	36.49%
Augmented Payout Ratio	-358.04%	-10,517.26%	0.00%	0.00%	0.00%	0.00%	6.70%	55.45%	55.62%	36.49%

This table displays calculated financial ratios and metrics derived from Herc's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.36%	36.18%	30.28%	25.31%	21.88%	5.72%	8.65%	5.74%	6.28%	14.30%	7.09%
EBITDA Growth	38.70%	40.73%	30.74%	25.27%	20.66%	8.31%	9.93%	1.44%	8.44%	-36.24%	-21.69%
EBIT Growth	42.98%	53.24%	36.67%	27.64%	22.62%	5.71%	15.45%	-0.64%	11.17%	-87.03%	-61.97%
NOPAT Growth	42.30%	45.94%	43.78%	26.44%	25.00%	1.16%	2.14%	1.36%	11.14%	-87.84%	-67.21%
Net Income Growth	39.70%	36.68%	15.52%	4.11%	11.88%	-7.14%	-2.99%	-7.89%	7.96%	-150.55%	-127.69%
EPS Growth	41.77%	38.14%	18.75%	11.76%	17.86%	-2.15%	0.44%	-7.52%	8.08%	-151.10%	-127.51%
Operating Cash Flow Growth	50.60%	22.60%	64.34%	30.09%	6.06%	-1.36%	2.13%	13.17%	20.00%	14.14%	-28.75%
Free Cash Flow Firm Growth	-361,805.55%	-142.69%	-41.31%	14.65%	14.57%	56.72%	72.71%	85.59%	78.91%	-57.38%	-73.89%
Invested Capital Growth	41.82%	38.94%	36.00%	29.52%	26.50%	14.03%	9.16%	5.49%	7.36%	15.14%	11.18%
Revenue Q/Q Growth	16.41%	5.64%	-5.97%	8.38%	13.22%	-8.37%	-3.37%	5.47%	13.80%	-1.45%	-9.46%
EBITDA Q/Q Growth	20.58%	4.49%	-13.47%	14.90%	16.14%	-6.20%	-12.17%	6.02%	24.15%	-44.85%	7.88%
EBIT Q/Q Growth	36.59%	4.17%	-29.71%	27.64%	31.21%	-10.19%	-23.24%	9.86%	46.79%	-89.52%	125.00%
NOPAT Q/Q Growth	37.18%	4.15%	-15.38%	4.58%	35.63%	-15.71%	-14.56%	3.77%	48.71%	-90.78%	130.43%
Net Income Q/Q Growth	38.36%	-2.97%	-31.63%	13.43%	48.68%	-19.47%	-28.57%	7.69%	74.29%	-137.70%	60.87%
EPS Q/Q Growth	41.18%	-2.98%	-30.06%	16.67%	48.87%	-19.44%	-28.21%	7.42%	73.98%	-138.08%	61.35%
Operating Cash Flow Q/Q Growth	22.22%	11.36%	-20.07%	19.57%	-0.36%	3.57%	-17.24%	32.50%	5.66%	-1.49%	-48.34%
Free Cash Flow Firm Q/Q Growth	8.30%	0.78%	-3.40%	9.29%	8.21%	49.74%	34.78%	52.10%	-34.29%	-275.11%	27.94%
Invested Capital Q/Q Growth	7.70%	4.96%	7.16%	6.92%	5.18%	-5.38%	2.59%	3.32%	7.05%	1.47%	-0.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.94%	40.41%	34.59%	36.91%	56.61%	96.15%	35.45%	36.08%	39.90%	110.73%	32.29%
EBITDA Margin	44.83%	44.35%	40.81%	43.27%	44.38%	45.43%	41.29%	41.51%	45.29%	25.34%	30.20%
Operating Margin	22.55%	22.74%	16.76%	19.58%	22.36%	21.51%	17.54%	18.40%	23.73%	2.42%	6.16%
EBIT Margin	22.55%	22.24%	16.62%	19.58%	22.69%	22.24%	17.66%	18.40%	23.73%	2.52%	6.27%
Profit (Net Income) Margin	13.56%	12.45%	9.05%	9.48%	12.44%	10.94%	8.08%	8.25%	12.64%	-4.84%	-2.09%
Tax Burden Percent	74.81%	73.13%	89.33%	73.79%	77.40%	73.98%	80.25%	75.27%	76.25%	106.98%	225.00%
Interest Burden Percent	80.36%	76.57%	60.98%	65.61%	70.87%	66.49%	57.04%	59.62%	69.87%	-179.17%	-14.81%
Effective Tax Rate	25.19%	26.87%	10.67%	26.21%	22.60%	26.02%	19.75%	24.73%	23.75%	0.00%	0.00%
Return on Invested Capital (ROIC)	13.17%	13.28%	11.74%	10.96%	13.00%	12.23%	10.53%	9.99%	12.51%	1.23%	3.17%
ROIC Less NNEP Spread (ROIC-NNEP)	12.07%	11.90%	10.10%	9.61%	11.61%	10.88%	9.06%	8.63%	11.07%	-0.51%	1.64%
Return on Net Nonoperating Assets (RNNOA)	27.22%	27.29%	25.63%	26.34%	32.22%	28.17%	24.78%	24.28%	30.20%	-1.36%	4.42%
Return on Equity (ROE)	40.39%	40.56%	37.37%	37.30%	45.22%	40.40%	35.30%	34.27%	42.71%	-0.13%	7.58%
Cash Return on Invested Capital (CROIC)	-22.75%	-20.21%	-18.23%	-13.87%	-11.50%	-1.06%	2.81%	5.72%	3.67%	-5.94%	-4.66%
Operating Return on Assets (OROA)	11.63%	11.66%	8.81%	10.03%	11.68%	11.21%	8.77%	8.75%	10.87%	1.21%	3.05%
Return on Assets (ROA)	6.99%	6.53%	4.80%	4.85%	6.41%	5.52%	4.01%	3.92%	5.79%	-2.31%	-1.02%
Return on Common Equity (ROCE)	40.39%	40.56%	37.37%	37.30%	45.22%	40.40%	35.30%	34.27%	42.71%	-0.13%	7.58%
Return on Equity Simple (ROE_SIMPLE)	28.04%	0.00%	31.19%	31.03%	29.52%	0.00%	26.38%	24.89%	23.56%	0.00%	9.43%
Net Operating Profit after Tax (NOPAT)	126	131	111	116	157	132	113	117	175	16	37
NOPAT Margin	16.87%	16.63%	14.97%	14.44%	17.30%	15.92%	14.07%	13.85%	18.09%	1.69%	4.31%
Net Nonoperating Expense Percent (NNEP)	1.10%	1.38%	1.64%	1.34%	1.39%	1.34%	1.47%	1.37%	1.44%	1.74%	1.53%
Return On Investment Capital (ROIC_SIMPLE)	-	3.24%	-	-	-	2.67%	-	-	-	0.29%	0.69%
Cost of Revenue to Revenue	59.06%	59.59%	65.41%	63.09%	43.39%	3.85%	64.55%	63.92%	60.10%	-10.73%	67.71%
SG&A Expenses to Revenue	15.03%	14.36%	14.32%	13.84%	12.67%	13.94%	14.30%	14.15%	12.75%	12.83%	13.71%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.39%	17.66%	17.84%	17.33%	34.25%	74.64%	17.91%	17.69%	16.17%	108.31%	26.13%
Earnings before Interest and Taxes (EBIT)	168	175	123	157	206	185	142	156	229	24	54
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	334	349	302	347	403	378	332	352	437	241	260
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.77	3.35	2.97	3.47	2.75	3.25	3.62	2.78	3.07	3.85	2.81
Price to Tangible Book Value (P/TBV)	10.74	14.37	17.96	26.92	14.80	12.81	17.22	14.66	18.40	34.92	34.11
Price to Revenue (P/Rev)	1.19	1.35	1.11	1.24	1.02	1.26	1.42	1.11	1.31	1.51	1.05
Price to Earnings (P/E)	9.89	11.23	9.54	11.18	9.32	11.92	13.73	11.15	13.01	25.49	29.85
Dividend Yield	2.22%	1.82%	2.12%	1.80%	2.12%	1.73%	1.53%	1.95%	1.65%	1.41%	2.01%
Earnings Yield	10.11%	8.90%	10.49%	8.95%	10.73%	8.39%	7.29%	8.97%	7.69%	3.92%	3.35%
Enterprise Value to Invested Capital (EV/IC)	1.50	1.65	1.50	1.59	1.44	1.70	1.81	1.57	1.66	1.79	1.51
Enterprise Value to Revenue (EV/Rev)	2.26	2.41	2.21	2.37	2.14	2.36	2.52	2.24	2.48	2.63	2.16
Enterprise Value to EBITDA (EV/EBITDA)	5.25	5.53	5.09	5.48	4.93	5.43	5.78	5.18	5.72	6.89	6.06
Enterprise Value to EBIT (EV/EBIT)	11.56	11.85	10.91	11.71	10.46	11.56	12.24	11.02	12.03	17.03	16.89
Enterprise Value to NOPAT (EV/NOPAT)	14.92	15.50	14.10	15.18	13.49	15.07	16.31	14.62	15.96	23.58	26.77
Enterprise Value to Operating Cash Flow (EV/OCF)	6.63	7.19	6.37	6.79	6.34	7.14	7.74	6.73	7.24	7.66	6.77
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	67.08	28.27	46.86	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.56	2.65	2.97	3.18	3.07	2.90	2.88	2.85	2.83	2.93	2.98
Long-Term Debt to Equity	2.55	2.64	2.96	3.17	3.06	2.89	2.87	2.84	2.82	2.91	2.96
Financial Leverage	2.26	2.29	2.54	2.74	2.77	2.59	2.74	2.81	2.73	2.67	2.70
Leverage Ratio	4.93	5.01	5.24	5.54	5.51	5.47	5.63	5.79	5.63	5.60	5.59
Compound Leverage Factor	3.96	3.84	3.19	3.63	3.91	3.64	3.21	3.45	3.93	-10.03	-0.83
Debt to Total Capital	71.94%	72.61%	74.83%	76.10%	75.44%	74.36%	74.25%	74.03%	73.90%	74.55%	74.88%
Short-Term Debt to Total Capital	0.39%	0.40%	0.37%	0.35%	0.37%	0.38%	0.37%	0.36%	0.35%	0.38%	0.41%
Long-Term Debt to Total Capital	71.55%	72.22%	74.46%	75.75%	75.07%	73.98%	73.88%	73.67%	73.55%	74.17%	74.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	28.06%	27.39%	25.17%	23.90%	24.56%	25.64%	25.75%	25.97%	26.10%	25.45%	25.12%
Debt to EBITDA	2.55	2.47	2.56	2.63	2.63	2.58	2.58	2.65	2.79	3.00	3.14
Net Debt to EBITDA	2.50	2.42	2.53	2.61	2.58	2.53	2.54	2.60	2.70	2.94	3.10
Long-Term Debt to EBITDA	2.53	2.45	2.55	2.62	2.62	2.57	2.57	2.64	2.78	2.99	3.12
Debt to NOPAT	7.24	6.91	7.09	7.30	7.19	7.17	7.28	7.47	7.79	10.27	13.86
Net Debt to NOPAT	7.09	6.79	7.00	7.23	7.05	7.04	7.16	7.34	7.53	10.07	13.69
Long-Term Debt to NOPAT	7.20	6.87	7.06	7.27	7.15	7.14	7.25	7.44	7.75	10.22	13.78
Altman Z-Score	0.98	1.08	0.97	1.01	1.04	1.12	1.16	1.01	1.06	1.11	1.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.09	1.07	1.05	0.98	1.36	1.44	1.51	1.23	1.22	1.38	1.50
Quick Ratio	0.99	0.96	0.93	0.88	1.24	1.25	1.31	1.09	1.10	1.20	1.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-996	-988	-1,022	-927	-851	-428	-279	-134	-179	-673	-485
Operating Cash Flow to CapEx	97.42%	71.19%	64.92%	68.20%	64.52%	114.62%	114.83%	97.55%	238.30%	63.29%	79.17%
Free Cash Flow to Firm to Interest Expense	-30.17	0.00	-21.28	0.00	0.00	0.00	-4.57	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	8.00	0.00	4.90	0.00	0.00	0.00	3.93	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-0.21	0.00	-2.65	0.00	0.00	0.00	0.51	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.52	0.53	0.51	0.51	0.50	0.50	0.48	0.46	0.48	0.49
Accounts Receivable Turnover	5.67	6.01	6.38	6.16	5.81	6.04	6.23	6.11	5.66	6.19	6.51
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	8.05	0.00	0.00	0.00	7.43	0.00	0.00	0.00	6.89
Accounts Payable Turnover	6.55	5.60	6.09	5.84	6.46	5.34	7.63	6.56	7.63	6.69	9.74
Days Sales Outstanding (DSO)	64.37	60.68	57.23	59.30	62.81	60.39	58.58	59.78	64.45	58.92	56.08
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	55.73	65.22	59.89	62.46	56.49	68.31	47.85	55.61	47.83	54.55	37.47
Cash Conversion Cycle (CCC)	8.64	-4.54	-2.66	-3.16	6.31	-7.92	10.73	4.17	16.62	4.38	18.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,803	3,992	4,278	4,574	4,811	4,552	4,670	4,825	5,165	5,241	5,192
Invested Capital Turnover	0.78	0.80	0.78	0.76	0.75	0.77	0.75	0.72	0.69	0.73	0.74
Increase / (Decrease) in Invested Capital	1,121	1,119	1,132	1,043	1,008	560	392	251	354	689	522
Enterprise Value (EV)	5,723	6,590	6,424	7,295	6,913	7,758	8,444	7,594	8,568	9,385	7,821
Market Capitalization	3,003	3,706	3,233	3,823	3,301	4,137	4,735	3,781	4,527	5,378	3,821
Book Value per Share	$36.20	$37.87	$37.32	$38.69	$42.38	$45.03	$46.22	$48.01	$52.02	$49.15	$47.72
Tangible Book Value per Share	$9.34	$8.82	$6.18	$4.98	$7.88	$11.43	$9.72	$9.09	$8.66	$5.42	$3.94
Total Capital	3,860	4,046	4,318	4,611	4,882	4,965	5,080	5,245	5,660	5,486	5,406
Total Debt	2,777	2,938	3,231	3,509	3,683	3,692	3,772	3,883	4,183	4,090	4,048
Total Long-Term Debt	2,762	2,922	3,215	3,493	3,665	3,673	3,753	3,864	4,163	4,069	4,026
Net Debt	2,720	2,884	3,191	3,472	3,612	3,621	3,709	3,813	4,041	4,007	4,000
Capital Expenditures (CapEx)	271	413	362	412	434	253	209	326	141	523	216
Debt-free, Cash-free Net Working Capital (DFCFNWC)	8.80	2.00	8.00	-32	138	172	199	81	32	152	209
Debt-free Net Working Capital (DFNWC)	66	56	48	5.00	209	243	262	151	174	235	257
Net Working Capital (NWC)	51	40	32	-11	191	224	243	132	154	214	235
Net Nonoperating Expense (NNE)	25	33	44	40	44	41	48	47	53	62	55
Net Nonoperating Obligations (NNO)	2,720	2,884	3,191	3,472	3,612	3,279	3,362	3,463	3,688	3,845	3,834
Total Depreciation and Amortization (D&A)	166	174	179	190	197	193	190	196	208	217	206
Debt-free, Cash-free Net Working Capital to Revenue	0.35%	0.07%	0.27%	-1.04%	4.26%	5.24%	5.95%	2.39%	0.93%	4.26%	5.77%
Debt-free Net Working Capital to Revenue	2.60%	2.04%	1.65%	0.16%	6.46%	7.40%	7.83%	4.45%	5.04%	6.59%	7.09%
Net Working Capital to Revenue	2.00%	1.46%	1.10%	-0.36%	5.90%	6.83%	7.26%	3.89%	4.47%	6.00%	6.48%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.41	$3.36	$2.31	$2.68	$3.99	$3.20	$2.30	$2.46	$4.30	($1.63)	($0.63)
Adjusted Weighted Average Basic Shares Outstanding	29.70M	29.60M	29M	28.40M	28.30M	28.50M	28.30M	28.40M	28.40M	28.40M	28.50M
Adjusted Diluted Earnings per Share	$3.36	$3.26	$2.28	$2.66	$3.96	$3.19	$2.29	$2.46	$4.28	($1.63)	($0.63)
Adjusted Weighted Average Diluted Shares Outstanding	30.20M	30.20M	29.40M	28.60M	28.50M	28.70M	28.40M	28.50M	28.50M	28.50M	28.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	29.26M	29.12M	28.49M	28.29M	28.27M	28.32M	28.37M	28.39M	28.40M	28.46M	28.50M
Normalized Net Operating Profit after Tax (NOPAT)	126	131	111	116	157	132	113	117	175	16	89
Normalized NOPAT Margin	16.87%	16.63%	14.97%	14.44%	17.30%	15.92%	14.07%	13.85%	18.09%	1.69%	10.33%
Pre Tax Income Margin	18.12%	17.03%	10.14%	12.84%	16.08%	14.78%	10.07%	10.97%	16.58%	-4.52%	-0.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.09	0.00	2.56	0.00	0.00	0.00	2.33	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	3.81	0.00	2.31	0.00	0.00	0.00	1.85	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-3.12	0.00	-4.98	0.00	0.00	0.00	-1.10	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-4.40	0.00	-5.23	0.00	0.00	0.00	-1.57	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.73%	20.61%	20.94%	21.05%	20.62%	21.04%	21.16%	21.83%	21.55%	36.49%	60.94%
Augmented Payout Ratio	39.18%	55.45%	67.85%	85.96%	68.36%	55.62%	43.19%	25.66%	25.29%	36.49%	60.94%

Frequently Asked Questions About Herc's Financials

When does Herc's financial year end?

According to the most recent income statement we have on file, Herc's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Herc's net income changed over the last 9 years?

Herc's net income appears to be on an upward trend, with a most recent value of $211 million in 2024, rising from $111.30 million in 2015. The previous period was $347 million in 2023. See where experts think Herc is headed by visiting Herc's forecast page.

What is Herc's operating income?

Herc's total operating income in 2024 was $549 million, based on the following breakdown:

Total Gross Profit: $2.03 billion
Total Operating Expenses: $1.48 billion

How has Herc revenue changed over the last 9 years?

Over the last 9 years, Herc's total revenue changed from $1.68 billion in 2015 to $3.57 billion in 2024, a change of 112.6%.

How much debt does Herc have?

Herc's total liabilities were at $6.48 billion at the end of 2024, a 12.0% increase from 2023, and a 491.9% increase since 2015.

How much cash does Herc have?

In the past 9 years, Herc's cash and equivalents has ranged from $15.70 million in 2015 to $83 million in 2024, and is currently $83 million as of their latest financial filing in 2024.

How has Herc's book value per share changed over the last 9 years?

Over the last 9 years, Herc's book value per share changed from 5.18 in 2015 to 49.15 in 2024, a change of 848.7%.

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This page (NYSE:HRI) was last updated on 5/5/2025 by MarketBeat.com Staff

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Herc (HRI) Financials

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Herc (HRI) Financials

Annual Income Statements for Herc

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