Herc (HRI) Financials

$134.11 -4.09 (-2.96%)

Closing price 03:59 PM Eastern

Extended Trading

$136.80 +2.69 (+2.00%)

As of 06:38 PM 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	2025
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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	111	-20	160	69	48	74	224	330	347	211	1.00
Consolidated Net Income / (Loss)	111	-20	160	69	48	74	224	330	347	211	1.00
Net Income / (Loss) Continuing Operations	111	-20	160	69	48	74	224	330	347	211	1.00
Total Pre-Tax Income	157	-4.90	-64	69	64	94	291	434	447	291	1.00
Total Operating Income	134	76	74	206	235	191	378	559	663	743	471
Total Gross Profit	745	702	804	910	951	527	756	1,065	1,223	2,029	1,458
Total Revenue	1,678	1,555	1,755	1,977	1,999	1,781	2,073	2,740	3,282	3,568	4,376
Operating Revenue	1,678	1,555	1,755	1,977	1,999	1,781	2,073	2,740	3,282	3,568	4,376
Total Cost of Revenue	933	853	950	1,067	1,048	1,255	1,317	1,675	2,059	1,539	2,918
Operating Cost of Revenue	933	853	950	1,067	1,048	1,255	1,317	1,675	2,059	1,539	2,918
Total Operating Expenses	611	626	730	704	717	335	378	506	560	1,286	987
Selling, General & Admin Expense	268	275	319	311	295	257	310	411	440	469	564
Depreciation Expense	344	351	379	388	409	63	68	95	112	806	224
Restructuring Charge	-	-	2.00	5.00	7.70	-	-	-	8.00	11	199
Total Other Income / (Expense), net	23	-81	-139	-137	-171	-97	-87	-125	-216	-452	-470
Interest & Investment Income	-	-	-	-	-	-	-	-122	-224	-260	-416
Other Income / (Expense), net	56	3.20	1.20	0.20	2.40	-4.60	-1.00	-3.00	8.00	-192	-54
Income Tax Expense	46	15	-225	-0.30	16	20	67	104	100	80	0.00
Basic Earnings per Share	$3.69	($0.70)	$5.66	$2.43	$1.66	$2.53	$7.57	$11.15	$12.18	$7.43	$0.03
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	31.30M
Diluted Earnings per Share	$3.69	($0.70)	$5.60	$2.39	$1.63	$2.51	$7.37	$10.92	$12.09	$7.40	$0.03
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	31.40M
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	33.37M
Cash Dividends to Common per Share	-	-	-	-	-	-	$0.50	$2.30	$2.53	$2.66	$2.80

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	113	91	65	70	122	-46	-18	-35	30	24	-24
Consolidated Net Income / (Loss)	113	91	65	70	122	-46	-18	-35	30	24	-24
Net Income / (Loss) Continuing Operations	113	91	65	70	122	-46	-18	-35	30	24	-24
Total Pre-Tax Income	146	123	81	93	160	-43	-8.00	-46	38	17	-23
Total Operating Income	203	179	141	156	229	23	53	38	171	209	102
Total Gross Profit	514	800	445	306	385	1,053	450	332	445	403	326
Total Revenue	908	832	804	848	965	951	861	1,002	1,304	1,209	1,139
Operating Revenue	908	832	804	848	965	951	861	1,002	1,304	1,209	1,139
Total Cost of Revenue	394	32	359	542	580	-102	411	670	859	806	813
Operating Cost of Revenue	394	32	359	542	580	-102	411	670	859	806	813
Total Operating Expenses	311	621	304	150	156	1,030	397	294	274	194	224
Selling, General & Admin Expense	115	116	112	117	120	122	118	127	166	153	146
Depreciation Expense	196	505	189	30	33	714	205	45	70	76	73
Restructuring Charge	-	-	3.00	3.00	3.00	-	74	73	38	14	5.00
Total Other Income / (Expense), net	-57	-56	-60	-63	-69	-66	-61	-84	-133	-192	-125
Interest & Investment Income	-60	-	-61	-63	-69	-	-62	-86	-134	-134	-128
Other Income / (Expense), net	3.00	6.00	1.00	0.00	0.00	1.00	1.00	2.00	1.00	-58	3.00
Income Tax Expense	33	32	16	23	38	3.00	10	-11	8.00	-7.00	1.00
Basic Earnings per Share	$3.99	$3.20	$2.30	$2.46	$4.30	($1.63)	($0.63)	($1.17)	$0.90	$0.93	($0.72)
Weighted Average Basic Shares Outstanding	28.30M	28.50M	28.30M	28.40M	28.40M	28.40M	28.50M	30M	33.20M	31.30M	33.30M
Diluted Earnings per Share	$3.96	$3.19	$2.29	$2.46	$4.28	($1.63)	($0.63)	($1.17)	$0.90	$0.93	($0.72)
Weighted Average Diluted Shares Outstanding	28.50M	28.70M	28.40M	28.50M	28.50M	28.50M	28.50M	30M	33.30M	31.40M	33.30M
Weighted Average Basic & Diluted Shares Outstanding	28.27M	28.32M	28.37M	28.39M	28.40M	28.46M	28.50M	33.24M	33.27M	33.37M	33.39M
Cash Dividends to Common per Share	$0.63	-	$0.67	$0.67	$0.67	-	$0.70	$0.70	$0.70	-	$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	2025
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	12/31/2025
Net Change in Cash & Equivalents	-3.30	-0.70	-55	-14	5.20	0.00	2.00	19	17	12	-31
Net Cash From Operating Activities	496	433	349	559	636	611	743	917	1,086	1,225	1,085
Net Cash From Continuing Operating Activities	496	433	285	559	636	611	743	917	1,086	1,225	1,085
Net Income / (Loss) Continuing Operations	111	-20	160	69	48	74	224	330	347	211	1.00
Consolidated Net Income / (Loss)	111	-20	160	69	48	74	224	330	347	211	1.00
Depreciation Expense	383	390	426	439	463	458	476	600	714	761	965
Amortization Expense	42	11	11	12	12	11	16	35	45	50	123
Non-Cash Adjustments To Reconcile Net Income	-24	50	76	67	132	60	22	43	-11	194	87
Changes in Operating Assets and Liabilities, net	-17	2.10	-388	-28	-20	7.00	5.00	-91	-9.00	9.00	-91
Net Cash From Investing Activities	-390	-395	-410	-567	-464	-208	-960	-1,682	-1,581	-1,511	-4,944
Net Cash From Continuing Investing Activities	-390	-395	-410	-567	-464	-208	-960	-1,682	-1,581	-1,511	-4,944
Purchase of Property, Plant & Equipment	-677	-516	-576	-849	-695	-386	-641	-1,272	-1,476	-1,209	-1,254
Acquisitions	-	-	-	0.00	-4.20	-46	-431	-515	-430	-600	-4,257
Sale of Property, Plant & Equipment	158	5.70	166	282	7.70	199	112	7.00	15	10	20
Divestitures	126	-	-	0.00	0.00	25	-	-	0.00	0.00	99
Other Investing Activities, net	2.70	115	0.00	0.00	228	0.00	0.00	98	310	288	448
Net Cash From Financing Activities	-105	-39	70	-4.20	-167	-406	220	785	512	299	3,827
Net Cash From Continuing Financing Activities	-105	-39	70	-4.20	-167	-406	220	785	512	299	3,827
Repayment of Debt	-2,219	-935	-613	-750	-2,584	-939	-893	-1,624	-1,388	-2,408	-5,308
Repurchase of Common Equity	-605	-	-	-	-	0.00	0.00	-115	-120	0.00	0.00
Payment of Dividends	1,003	-2,072	-	-	0.00	0.00	-15	-68	-73	-77	-87
Issuance of Debt	1,865	3,026	562	738	2,430	528	1,132	2,618	2,127	2,808	9,246
Issuance of Common Equity	199	0.00	1.10	2.00	2.40	2.30	3.00	4.00	4.00	5.00	6.00
Other Financing Activities, net	-349	-58	120	5.80	-15	2.60	-7.00	-30	-38	-29	-30
Effect of Exchange Rate Changes	-4.30	-0.40	-	-	0.30	-	-	-1.00	0.00	-1.00	1.00
Cash Interest Paid	28	71	132	129	131	92	83	114	221	258	419
Cash Income Taxes Paid	10	2.90	-5.50	13	7.90	5.00	23	22	30	12	24

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	34	-	-8.00	7.00	72	-59	-35	5.00	8.00	-9.00	-9.00
Net Cash From Operating Activities	280	290	240	318	336	331	171	241	358	315	277
Net Cash From Continuing Operating Activities	280	290	240	318	336	331	171	241	358	315	277
Net Income / (Loss) Continuing Operations	113	91	65	70	122	-46	-18	-35	30	24	-24
Consolidated Net Income / (Loss)	113	91	65	70	122	-46	-18	-35	30	24	-24
Depreciation Expense	186	181	179	185	195	202	194	220	276	275	274
Amortization Expense	11	12	11	11	13	15	12	22	43	46	44
Non-Cash Adjustments To Reconcile Net Income	-	-20	-6.00	-	7.00	193	-9.00	52	25	19	2.00
Changes in Operating Assets and Liabilities, net	-30	26	-9.00	52	-1.00	-33	-8.00	-18	-16	-49	-19
Net Cash From Investing Activities	-394	-257	-296	-404	-543	-268	-133	-4,427	-234	-150	-183
Net Cash From Continuing Investing Activities	-394	-257	-296	-404	-543	-268	-133	-4,427	-234	-150	-183
Purchase of Property, Plant & Equipment	-439	-257	-211	-328	-341	-329	-220	-281	-457	-296	-313
Acquisitions	-60	-98	-148	-142	-277	-33	-11	-4,240	-5.00	-1.00	0.00
Sale of Property, Plant & Equipment	5.00	4.00	2.00	2.00	200	-194	4.00	5.00	6.00	5.00	13
Other Investing Activities, net	100	94	61	64	-125	288	94	89	123	142	117
Net Cash From Financing Activities	148	-33	48	93	279	-121	-73	4,191	-116	-175	-103
Net Cash From Continuing Financing Activities	148	-33	48	93	279	-121	-73	4,191	-116	-175	-103
Repayment of Debt	-297	-372	-302	-1,140	-403	-563	-561	-2,093	-655	-1,999	-637
Payment of Dividends	-18	-17	-20	-19	-19	-19	-21	-20	-23	-23	-24
Issuance of Debt	465	372	385	1,255	690	478	520	6,308	567	1,851	571
Issuance of Common Equity	1.00	1.00	1.00	1.00	1.00	2.00	1.00	1.00	2.00	2.00	2.00
Other Financing Activities, net	-3.00	-4.00	-16	-4.00	10	-19	-12	-5.00	-7.00	-6.00	-15
Effect of Exchange Rate Changes	-	-	0.00	-	-	-	0.00	-	-	1.00	0.00
Cash Interest Paid	75	46	78	45	71	64	66	53	83	217	63
Cash Income Taxes Paid	17	9.00	3.00	6.00	3.00	-	2.00	15	1.00	6.00	0.00

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	2025
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	12/31/2025
Total Assets	3,397	3,466	3,550	3,610	3,817	3,588	4,490	5,957	7,061	7,877	13,776
Total Current Assets	362	372	475	400	400	367	470	644	732	776	956
Cash & Equivalents	16	24	42	28	33	33	35	54	71	83	52
Accounts Receivable	288	293	386	332	307	301	388	523	563	589	769
Prepaid Expenses	11	23	23	40	29	33	47	67	30	47	72
Other Current Assets	-	-	-	0.00	31	-	-	-	47	40	63
Plant, Property, & Equipment, net	247	2,662	2,661	2,787	0.00	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	12,820
Goodwill	91	91	91	91	94	101	232	419	483	670	2,873
Intangible Assets	301	304	284	294	292	296	389	431	467	572	1,665
Other Noncurrent Operating Assets	15	35	39	38	3,032	2,825	3,401	4,463	4,971	5,639	8,282
Total Liabilities & Shareholders' Equity	3,397	3,466	3,550	3,610	3,817	3,588	4,490	5,957	7,061	7,877	13,776
Total Liabilities	1,095	3,148	3,039	3,038	3,173	2,846	3,514	4,849	5,788	6,481	11,828
Total Current Liabilities	282	243	291	299	323	328	530	604	508	562	730
Short-Term Debt	83	16	25	30	30	16	15	16	19	21	32
Accounts Payable	110	139	152	147	127	126	281	318	212	248	337
Accrued Expenses	48	88	113	122	136	154	195	228	221	239	305
Other Current Liabilities	-	-	-	0.00	31	32	39	42	37	39	56
Total Noncurrent Liabilities	813	2,905	2,749	2,738	2,850	2,518	2,984	4,245	5,280	5,919	11,098
Long-Term Debt	53	2,179	2,137	2,130	2,052	1,652	1,916	2,922	3,673	4,069	8,021
Noncurrent Deferred & Payable Income Tax Liabilities	727	695	463	448	459	474	537	647	743	800	1,446
Other Noncurrent Operating Liabilities	32	32	36	44	339	393	531	676	796	990	1,631
Commitments & Contingencies	0.00	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	1,948
Total Preferred & Common Equity	2,302	318	510	573	644	742	977	1,108	1,273	1,396	1,948
Preferred Stock	0.00	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	1,948
Common Stock	3,735	1,754	1,763	1,778	1,797	1,819	1,823	1,820	1,820	1,832	2,448
Retained Earnings	-606	-625	-462	-391	-351	-278	-53	224	498	633	547
Treasury Stock	-692	-692	-692	-692	-692	-692	-692	-807	-927	-927	-927
Accumulated Other Comprehensive Income / (Loss)	-135	-119	-99	-122	-110	-107	-100	-129	-118	-142	-120

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	Q2 2025	Q3 2025	Q1 2026
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	6/30/2025	9/30/2025	3/31/2026
Total Assets	5,684	6,276	6,695	6,893	7,207	7,575	8,172	7,705	14,018	13,927	13,564
Total Current Assets	635	625	644	729	717	717	851	709	943	974	919
Cash & Equivalents	57	40	37	71	63	70	142	48	53	61	43
Accounts Receivable	519	514	541	595	560	570	623	554	778	810	760
Prepaid Expenses	59	71	66	63	67	55	66	69	63	77	62
Other Current Assets	-	-	-	-	-	-	-	20	26	26	54
Plant, Property, & Equipment, net	0.00	415	0.00	0.00	486	0.00	0.00	567	0.00	0.00	867
Total Noncurrent Assets	5,049	5,236	6,051	6,164	6,004	6,858	7,321	6,429	13,075	12,953	11,778
Goodwill	379	460	492	508	537	590	659	682	2,901	2,931	2,861
Intangible Assets	425	447	468	468	496	514	572	564	1,622	1,626	1,627
Other Noncurrent Operating Assets	4,246	4,329	5,091	5,188	4,562	5,342	5,675	4,962	8,372	8,396	7,290
Total Liabilities & Shareholders' Equity	5,684	6,276	6,695	6,893	7,207	7,575	8,172	7,705	14,018	13,927	13,564
Total Liabilities	4,601	5,189	5,593	5,694	5,899	6,213	6,695	6,347	12,107	11,998	11,666
Total Current Liabilities	584	593	655	538	474	585	697	474	818	801	628
Short-Term Debt	15	16	16	18	19	19	20	22	28	31	32
Accounts Payable	327	348	363	247	201	286	360	161	325	355	218
Accrued Expenses	201	186	233	230	194	221	258	237	391	360	321
Other Current Liabilities	42	43	43	43	37	38	38	39	55	55	57
Total Noncurrent Liabilities	4,017	4,596	4,938	5,156	5,425	5,628	5,998	5,873	11,289	11,197	11,038
Long-Term Debt	2,762	3,215	3,493	3,665	3,753	3,864	4,163	4,026	8,251	8,164	7,958
Noncurrent Deferred & Payable Income Tax Liabilities	612	655	673	693	750	761	799	771	1,377	1,431	1,426
Other Noncurrent Operating Liabilities	643	726	772	798	856	940	975	1,018	1,605	1,602	1,654
Commitments & Contingencies	0.00	0.00	0.00	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	1,911	1,929	1,898
Total Preferred & Common Equity	1,083	1,087	1,102	1,199	1,308	1,362	1,477	1,358	1,911	1,929	1,898
Preferred Stock	0.00	0.00	0.00	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	1,911	1,929	1,898
Common Stock	1,812	1,801	1,808	1,816	1,815	1,821	1,829	1,832	2,423	2,440	2,449
Retained Earnings	143	272	330	425	544	595	698	595	540	547	500
Treasury Stock	-751	-859	-914	-914	-927	-927	-927	-927	-927	-927	-927
Accumulated Other Comprehensive Income / (Loss)	-121	-127	-122	-128	-124	-127	-123	-142	-125	-131	-124

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	2025
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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.21%	-7.35%	12.84%	12.66%	1.13%	-10.89%	16.38%	32.18%	19.78%	8.71%	22.65%
EBITDA Growth	1.32%	-21.94%	6.71%	28.20%	8.45%	-7.85%	32.37%	37.05%	20.07%	-4.76%	10.50%
EBIT Growth	2.10%	-58.22%	-4.67%	172.22%	15.21%	-21.26%	101.93%	47.48%	20.68%	-17.88%	-24.32%
NOPAT Growth	-15.91%	-43.83%	-2.23%	296.50%	-15.11%	-14.52%	94.20%	46.08%	21.09%	-22.66%	-12.57%
Net Income Growth	24.08%	-117.70%	913.71%	-56.89%	-31.26%	55.16%	203.93%	47.32%	5.15%	-39.19%	-99.53%
EPS Growth	24.08%	-118.97%	900.00%	-57.32%	-31.80%	53.99%	193.63%	48.17%	10.71%	-38.79%	-99.59%
Operating Cash Flow Growth	5.78%	-12.67%	-19.45%	60.15%	13.68%	-3.89%	21.62%	23.42%	18.43%	12.80%	-11.43%
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%	-2,719.76%
Invested Capital Growth	-86.16%	3.07%	10.61%	2.79%	-4.53%	-11.77%	20.91%	38.94%	14.03%	15.14%	89.83%
Revenue Q/Q Growth	149.24%	423.45%	5.19%	2.70%	96.10%	-36.02%	2.85%	8.26%	1.39%	3.45%	6.27%
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%	18.13%
EBIT Q/Q Growth	145.33%	-23.01%	84.39%	6.74%	152.64%	-78.76%	14.14%	12.28%	1.51%	-22.61%	43.79%
NOPAT Q/Q Growth	133.90%	66.33%	93.25%	-77.85%	141.75%	-76.21%	14.45%	10.81%	0.43%	-25.85%	136.09%
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%	101.45%
EPS Q/Q Growth	210.31%	-113.81%	336.29%	-72.78%	0.00%	0.00%	18.30%	8.98%	-0.58%	-39.44%	101.19%
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%	-1.45%
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%	9.82%
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%	-1.13%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.39%	45.14%	45.83%	46.01%	47.59%	29.56%	36.47%	38.87%	56.86%	56.87%	33.32%
EBITDA Margin	36.66%	30.89%	29.20%	33.23%	35.64%	36.86%	41.92%	43.47%	43.57%	38.17%	34.39%
Operating Margin	7.97%	4.89%	4.24%	10.40%	11.74%	10.74%	18.23%	20.40%	20.20%	15.39%	10.76%
EBIT Margin	11.31%	5.10%	4.31%	10.41%	11.86%	10.48%	18.19%	20.29%	20.44%	15.44%	9.53%
Profit (Net Income) Margin	6.63%	-1.27%	9.14%	3.50%	2.38%	4.14%	10.81%	12.04%	10.57%	5.91%	0.02%
Tax Burden Percent	70.94%	402.04%	-248.91%	100.44%	74.69%	78.32%	76.98%	76.04%	77.63%	72.51%	100.00%
Interest Burden Percent	82.67%	-6.18%	-85.19%	33.43%	26.82%	50.40%	77.19%	78.06%	66.62%	52.81%	0.24%
Effective Tax Rate	29.06%	0.00%	0.00%	-0.44%	25.31%	21.68%	23.02%	23.96%	22.37%	27.49%	0.00%
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%	6.20%
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%	-1.73%
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%	-6.14%
Return on Equity (ROE)	4.67%	-1.50%	38.72%	12.76%	7.81%	10.63%	26.06%	31.66%	29.15%	15.81%	0.06%
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%	-55.79%
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%	3.85%
Return on Assets (ROA)	0.81%	-0.57%	4.57%	1.93%	1.28%	1.99%	5.55%	6.32%	5.33%	2.83%	0.01%
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%	0.06%
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%	0.00%
Net Operating Profit after Tax (NOPAT)	95	53	52	206	175	150	291	425	515	398	471
NOPAT Margin	5.65%	3.43%	2.97%	10.45%	8.77%	8.41%	14.04%	15.51%	15.68%	11.16%	10.76%
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%	7.94%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.51%	10.37%	7.26%	4.71%
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%	66.68%
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%	12.89%
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	36.43%	40.25%	41.59%	35.61%	35.85%	18.82%	18.23%	18.47%	36.65%	41.48%	22.55%
Earnings before Interest and Taxes (EBIT)	190	79	76	206	237	187	377	556	671	551	417
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	615	480	512	657	712	657	869	1,191	1,430	1,362	1,505
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	2.53
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	0.00
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	1.13
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	4,936.56
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.34%	1.82%	1.73%	1.41%	1.89%
Earnings Yield	0.00%	0.00%	9.49%	9.81%	3.54%	3.99%	5.06%	8.90%	8.39%	3.92%	0.02%
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	1.30
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	2.96
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	8.60
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	31.03
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	27.47
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	11.92
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	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	4.13
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	4.12
Financial Leverage	3.16	0.87	5.31	4.14	3.53	2.66	2.05	2.29	2.59	2.67	3.54
Leverage Ratio	5.75	2.62	8.47	6.61	6.10	5.34	4.70	5.01	5.47	5.60	6.48
Compound Leverage Factor	4.75	-0.16	-7.22	2.21	1.64	2.69	3.63	3.91	3.64	2.96	0.02
Debt to Total Capital	5.61%	87.35%	81.68%	79.90%	76.37%	69.20%	66.41%	72.61%	74.36%	74.55%	80.52%
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%	0.32%
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%	80.20%
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	94.39%	12.65%	18.32%	20.10%	23.63%	30.80%	33.59%	27.39%	25.64%	25.45%	19.48%
Debt to EBITDA	0.22	4.57	4.44	3.46	2.92	2.54	2.22	2.47	2.58	3.00	5.35
Net Debt to EBITDA	0.17	4.51	4.36	3.42	2.88	2.49	2.18	2.42	2.53	2.94	5.32
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	5.33
Debt to NOPAT	1.44	41.19	43.69	11.02	11.88	11.13	6.64	6.91	7.17	10.27	17.10
Net Debt to NOPAT	1.11	40.61	42.89	10.89	11.69	10.91	6.52	6.79	7.04	10.07	16.99
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	17.03
Altman Z-Score	0.00	0.52	0.78	0.76	0.88	0.96	1.46	1.29	1.34	1.33	0.74
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	1.28	1.53	1.63	1.34	1.24	1.12	0.89	1.07	1.44	1.38	1.31
Quick Ratio	1.08	1.31	1.47	1.20	1.05	1.02	0.80	0.96	1.25	1.20	1.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	15,084	-21	-211	130	303	467	-206	-694	-45	-291	-4,237
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%	87.93%
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	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	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	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	0.40
Accounts Receivable Turnover	1.78	5.35	5.16	5.50	6.26	5.86	6.01	6.01	6.04	6.19	6.44
Inventory Turnover	20.90	36.76	39.77	0.00	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	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	9.98
Days Sales Outstanding (DSO)	204.97	68.21	70.69	66.35	58.35	62.28	60.68	60.68	60.39	58.92	56.64
Days Inventory Outstanding (DIO)	17.46	9.93	9.18	0.00	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	36.59
Cash Conversion Cycle (CCC)	3.89	24.96	23.99	15.22	10.70	25.58	4.37	-4.54	-7.92	4.38	20.05
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	9,949
Invested Capital Turnover	0.17	0.64	0.67	0.71	0.73	0.70	0.79	0.80	0.77	0.73	0.58
Increase / (Decrease) in Invested Capital	-14,989	74	263	77	-128	-317	497	1,119	560	689	4,708
Enterprise Value (EV)	0.00	3,244	3,923	2,952	3,390	3,479	6,322	6,590	7,758	9,385	12,938
Market Capitalization	0.00	1,081	1,689	704	1,341	1,845	4,426	3,706	4,137	5,378	4,937
Book Value per Share	$5.18	$11.22	$17.99	$20.10	$22.35	$25.39	$32.94	$37.87	$45.03	$49.15	$58.55
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	($77.85)
Total Capital	2,439	2,512	2,786	2,849	2,726	2,409	2,908	4,046	4,965	5,486	10,001
Total Debt	137	2,194	2,275	2,276	2,082	1,667	1,931	2,938	3,692	4,090	8,053
Total Long-Term Debt	53	2,179	2,250	2,246	2,052	1,652	1,916	2,922	3,673	4,069	8,021
Net Debt	105	2,163	2,234	2,248	2,049	1,634	1,896	2,884	3,621	4,007	8,001
Capital Expenditures (CapEx)	519	510	410	567	688	186	529	1,265	1,461	1,199	1,234
Debt-free, Cash-free Net Working Capital (DFCFNWC)	131	114	168	103	74	22	-80	2.00	172	152	206
Debt-free Net Working Capital (DFNWC)	163	145	209	131	107	55	-45	56	243	235	258
Net Working Capital (NWC)	79	129	184	101	77	39	-60	40	224	214	226
Net Nonoperating Expense (NNE)	-16	73	-108	137	128	76	67	95	168	187	470
Net Nonoperating Obligations (NNO)	105	2,163	2,234	2,248	2,049	1,634	1,896	2,884	3,279	3,845	8,001
Total Depreciation and Amortization (D&A)	425	401	437	451	475	470	492	635	759	811	1,088
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%	4.71%
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%	5.90%
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%	5.16%
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	$0.03
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	31.30M
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	$0.03
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	31.40M
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	2.16B	28.32M	28.40M	28.52M	28.86M	58.81M	29.70M	29.12M	28.32M	28.46M	33.37M
Normalized Net Operating Profit after Tax (NOPAT)	95	53	74	147	185	162	291	425	515	539	469
Normalized NOPAT Margin	5.65%	3.43%	4.23%	7.46%	9.25%	9.09%	14.04%	15.51%	15.68%	15.10%	10.72%
Pre Tax Income Margin	9.35%	-0.32%	-3.67%	3.48%	3.18%	5.28%	14.04%	15.84%	13.62%	8.16%	0.02%
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	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	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	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	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%	8,700.00%
Augmented Payout Ratio	-358.04%	-10,517.26%	0.00%	0.00%	0.00%	0.00%	6.70%	55.45%	55.62%	36.49%	8,700.00%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	33,370,258.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	33,370,258.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.72
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.88%	5.72%	8.65%	5.74%	6.28%	14.30%	7.09%	18.16%	35.13%	27.13%	32.29%
EBITDA Growth	20.66%	8.31%	9.93%	1.44%	8.44%	-36.24%	-21.69%	-19.89%	12.36%	95.85%	62.69%
EBIT Growth	22.62%	5.71%	15.45%	-0.64%	11.17%	-87.03%	-61.97%	-74.36%	-24.89%	529.17%	94.44%
NOPAT Growth	25.00%	1.16%	2.14%	1.36%	11.14%	-87.84%	-67.21%	-77.35%	-22.69%	94.25%	92.45%
Net Income Growth	11.88%	-7.14%	-2.99%	-7.89%	7.96%	-150.55%	-127.69%	-150.00%	-75.41%	152.17%	-33.33%
EPS Growth	17.86%	-2.15%	0.44%	-7.52%	8.08%	-151.10%	-127.51%	-147.56%	-78.97%	157.06%	-14.29%
Operating Cash Flow Growth	6.06%	-1.36%	2.13%	13.17%	20.00%	14.14%	-28.75%	-24.21%	6.55%	-4.83%	61.99%
Free Cash Flow Firm Growth	14.57%	56.72%	72.71%	85.59%	78.91%	-57.38%	-73.89%	-3,760.89%	-2,555.15%	-721.62%	-844.85%
Invested Capital Growth	26.50%	14.03%	9.16%	5.49%	7.36%	15.14%	11.18%	107.44%	94.83%	89.83%	89.62%
Revenue Q/Q Growth	13.22%	-8.37%	-3.37%	5.47%	13.80%	-1.45%	-9.46%	16.38%	30.14%	-7.29%	-5.79%
EBITDA Q/Q Growth	16.14%	-6.20%	-12.17%	6.02%	24.15%	-44.85%	7.88%	8.46%	74.11%	-3.87%	-10.38%
EBIT Q/Q Growth	31.21%	-10.19%	-23.24%	9.86%	46.79%	-89.52%	125.00%	-25.93%	330.00%	-12.21%	-30.46%
NOPAT Q/Q Growth	35.63%	-15.71%	-14.56%	3.77%	48.71%	-90.78%	130.43%	-28.30%	407.52%	118.56%	-75.80%
Net Income Q/Q Growth	48.68%	-19.47%	-28.57%	7.69%	74.29%	-137.70%	60.87%	-94.44%	185.71%	-20.00%	-200.00%
EPS Q/Q Growth	48.87%	-19.44%	-28.21%	7.42%	73.98%	-138.08%	61.35%	-85.71%	176.92%	3.33%	-177.42%
Operating Cash Flow Q/Q Growth	-0.36%	3.57%	-17.24%	32.50%	5.66%	-1.49%	-48.34%	40.94%	48.55%	-12.01%	-12.06%
Free Cash Flow Firm Q/Q Growth	8.21%	49.74%	34.78%	52.10%	-34.29%	-275.11%	27.94%	-963.60%	7.65%	7.35%	-3.82%
Invested Capital Q/Q Growth	5.18%	-5.38%	2.59%	3.32%	7.05%	1.47%	-0.93%	92.78%	0.54%	-1.13%	-1.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.61%	96.15%	35.45%	36.08%	39.90%	110.73%	32.29%	33.13%	34.13%	33.33%	28.62%
EBITDA Margin	44.38%	45.43%	41.29%	41.51%	45.29%	25.34%	30.20%	28.14%	37.65%	39.04%	37.14%
Operating Margin	22.36%	21.51%	17.54%	18.40%	23.73%	2.42%	6.16%	3.79%	13.11%	17.29%	8.96%
EBIT Margin	22.69%	22.24%	17.66%	18.40%	23.73%	2.52%	6.27%	3.99%	13.19%	12.49%	9.22%
Profit (Net Income) Margin	12.44%	10.94%	8.08%	8.25%	12.64%	-4.84%	-2.09%	-3.49%	2.30%	1.99%	-2.11%
Tax Burden Percent	77.40%	73.98%	80.25%	75.27%	76.25%	106.98%	225.00%	76.09%	78.95%	141.18%	104.35%
Interest Burden Percent	70.87%	66.49%	57.04%	59.62%	69.87%	-179.17%	-14.81%	-115.00%	22.09%	11.26%	-21.90%
Effective Tax Rate	22.60%	26.02%	19.75%	24.73%	23.75%	0.00%	0.00%	0.00%	21.05%	-41.18%	0.00%
Return on Invested Capital (ROIC)	13.00%	12.23%	10.53%	9.99%	12.51%	1.23%	3.17%	1.35%	5.60%	14.06%	3.88%
ROIC Less NNEP Spread (ROIC-NNEP)	11.61%	10.88%	9.06%	8.63%	11.07%	-0.51%	1.64%	0.29%	3.82%	9.49%	2.26%
Return on Net Nonoperating Assets (RNNOA)	32.22%	28.17%	24.78%	24.28%	30.20%	-1.36%	4.42%	1.01%	13.27%	33.60%	8.18%
Return on Equity (ROE)	45.22%	40.40%	35.30%	34.27%	42.71%	-0.13%	7.58%	2.37%	18.87%	47.66%	12.06%
Cash Return on Invested Capital (CROIC)	-11.50%	-1.06%	2.81%	5.72%	3.67%	-5.94%	-4.66%	-68.21%	-61.71%	-55.79%	-57.05%
Operating Return on Assets (OROA)	11.68%	11.21%	8.77%	8.75%	10.87%	1.21%	3.05%	1.40%	4.92%	5.05%	4.03%
Return on Assets (ROA)	6.41%	5.52%	4.01%	3.92%	5.79%	-2.31%	-1.02%	-1.22%	0.86%	0.80%	-0.92%
Return on Common Equity (ROCE)	45.22%	40.40%	35.30%	34.27%	42.71%	-0.13%	7.58%	2.37%	18.87%	47.66%	12.06%
Return on Equity Simple (ROE_SIMPLE)	29.52%	0.00%	26.38%	24.89%	23.56%	0.00%	9.43%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	157	132	113	117	175	16	37	27	135	295	71
NOPAT Margin	17.30%	15.92%	14.07%	13.85%	18.09%	1.69%	4.31%	2.65%	10.35%	24.41%	6.27%
Net Nonoperating Expense Percent (NNEP)	1.39%	1.34%	1.47%	1.37%	1.44%	1.74%	1.53%	1.07%	1.78%	4.58%	1.62%
Return On Investment Capital (ROIC_SIMPLE)	-	2.67%	-	-	-	0.29%	0.69%	0.26%	1.33%	2.95%	0.72%
Cost of Revenue to Revenue	43.39%	3.85%	64.55%	63.92%	60.10%	-10.73%	67.71%	66.87%	65.87%	66.67%	71.38%
SG&A Expenses to Revenue	12.67%	13.94%	14.30%	14.15%	12.75%	12.83%	13.71%	12.67%	12.73%	12.66%	12.82%
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	34.25%	74.64%	17.91%	17.69%	16.17%	108.31%	26.13%	29.34%	21.01%	16.05%	19.67%
Earnings before Interest and Taxes (EBIT)	206	185	142	156	229	24	54	40	172	151	105
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	403	378	332	352	437	241	260	282	491	472	423
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.75	3.25	3.62	2.78	3.07	3.85	2.81	1.96	2.01	2.53	1.75
Price to Tangible Book Value (P/TBV)	14.80	12.81	17.22	14.66	18.40	34.92	34.11	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.02	1.26	1.42	1.11	1.31	1.51	1.05	0.99	0.94	1.13	0.71
Price to Earnings (P/E)	9.32	11.92	13.73	11.15	13.01	25.49	29.85	163.17	0.00	4,936.56	0.00
Dividend Yield	2.12%	1.73%	1.53%	1.95%	1.65%	1.41%	2.01%	2.07%	2.37%	1.89%	2.81%
Earnings Yield	10.73%	8.39%	7.29%	8.97%	7.69%	3.92%	3.35%	0.61%	0.00%	0.02%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.44	1.70	1.81	1.57	1.66	1.79	1.51	1.20	1.19	1.30	1.14
Enterprise Value to Revenue (EV/Rev)	2.14	2.36	2.52	2.24	2.48	2.63	2.16	3.17	2.92	2.96	2.42
Enterprise Value to EBITDA (EV/EBITDA)	4.93	5.43	5.78	5.18	5.72	6.89	6.06	9.82	9.43	8.60	6.76
Enterprise Value to EBIT (EV/EBIT)	10.46	11.56	12.24	11.02	12.03	17.03	16.89	34.52	41.42	31.03	24.08
Enterprise Value to NOPAT (EV/NOPAT)	13.49	15.07	16.31	14.62	15.96	23.58	26.77	95.66	60.21	27.47	30.96
Enterprise Value to Operating Cash Flow (EV/OCF)	6.34	7.14	7.74	6.73	7.24	7.66	6.77	11.10	10.91	11.92	9.46
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	67.08	28.27	46.86	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.07	2.90	2.88	2.85	2.83	2.93	2.98	4.33	4.25	4.13	4.21
Long-Term Debt to Equity	3.06	2.89	2.87	2.84	2.82	2.91	2.96	4.32	4.23	4.12	4.19
Financial Leverage	2.77	2.59	2.74	2.81	2.73	2.67	2.70	3.53	3.47	3.54	3.62
Leverage Ratio	5.51	5.47	5.63	5.79	5.63	5.60	5.59	6.60	6.49	6.48	6.53
Compound Leverage Factor	3.91	3.64	3.21	3.45	3.93	-10.03	-0.83	-7.59	1.43	0.73	-1.43
Debt to Total Capital	75.44%	74.36%	74.25%	74.03%	73.90%	74.55%	74.88%	81.25%	80.95%	80.52%	80.81%
Short-Term Debt to Total Capital	0.37%	0.38%	0.37%	0.36%	0.35%	0.38%	0.41%	0.27%	0.31%	0.32%	0.32%
Long-Term Debt to Total Capital	75.07%	73.98%	73.88%	73.67%	73.55%	74.17%	74.47%	80.97%	80.64%	80.20%	80.48%
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	24.56%	25.64%	25.75%	25.97%	26.10%	25.45%	25.12%	18.75%	19.05%	19.48%	19.20%
Debt to EBITDA	2.63	2.58	2.58	2.65	2.79	3.00	3.14	6.79	6.43	5.35	4.79
Net Debt to EBITDA	2.58	2.53	2.54	2.60	2.70	2.94	3.10	6.74	6.38	5.32	4.76
Long-Term Debt to EBITDA	2.62	2.57	2.57	2.64	2.78	2.99	3.12	6.76	6.41	5.33	4.77
Debt to NOPAT	7.19	7.17	7.28	7.47	7.79	10.27	13.86	66.11	41.08	17.10	21.95
Net Debt to NOPAT	7.05	7.04	7.16	7.34	7.53	10.07	13.69	65.69	40.77	16.99	21.83
Long-Term Debt to NOPAT	7.15	7.14	7.25	7.44	7.75	10.22	13.78	65.89	40.92	17.03	21.86
Altman Z-Score	1.04	1.12	1.16	1.01	1.06	1.11	1.00	0.53	0.60	0.68	0.62
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	1.36	1.44	1.51	1.23	1.22	1.38	1.50	1.15	1.22	1.31	1.46
Quick Ratio	1.24	1.25	1.31	1.09	1.10	1.20	1.27	1.02	1.09	1.12	1.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-851	-428	-279	-134	-179	-673	-485	-5,157	-4,763	-4,413	-4,582
Operating Cash Flow to CapEx	64.52%	114.62%	114.83%	97.55%	238.30%	63.29%	79.17%	87.32%	79.38%	108.25%	92.33%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-4.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	3.93	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.50	0.50	0.48	0.46	0.48	0.49	0.35	0.37	0.40	0.44
Accounts Receivable Turnover	5.81	6.04	6.23	6.11	5.66	6.19	6.51	5.61	5.75	6.44	7.08
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	7.43	0.00	0.00	0.00	6.89	0.00	0.00	0.00	6.49
Accounts Payable Turnover	6.46	5.34	7.63	6.56	7.63	6.69	9.74	6.19	6.07	9.98	17.52
Days Sales Outstanding (DSO)	62.81	60.39	58.58	59.78	64.45	58.92	56.08	65.10	63.51	56.64	51.53
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)	56.49	68.31	47.85	55.61	47.83	54.55	37.47	58.97	60.13	36.59	20.83
Cash Conversion Cycle (CCC)	6.31	-7.92	10.73	4.17	16.62	4.38	18.61	6.13	3.37	20.05	30.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,811	4,552	4,670	4,825	5,165	5,241	5,192	10,009	10,063	9,949	9,845
Invested Capital Turnover	0.75	0.77	0.75	0.72	0.69	0.73	0.74	0.51	0.54	0.58	0.62
Increase / (Decrease) in Invested Capital	1,008	560	392	251	354	689	522	5,184	4,898	4,708	4,653
Enterprise Value (EV)	6,913	7,758	8,444	7,594	8,568	9,385	7,821	11,979	12,011	12,938	11,269
Market Capitalization	3,301	4,137	4,735	3,781	4,527	5,378	3,821	3,753	3,877	4,937	3,322
Book Value per Share	$42.38	$45.03	$46.22	$48.01	$52.02	$49.15	$47.72	$67.06	$58.04	$58.55	$56.88
Tangible Book Value per Share	$7.88	$11.43	$9.72	$9.09	$8.66	$5.42	$3.94	($91.66)	($79.07)	($77.85)	($77.61)
Total Capital	4,882	4,965	5,080	5,245	5,660	5,486	5,406	10,190	10,124	10,001	9,888
Total Debt	3,683	3,692	3,772	3,883	4,183	4,090	4,048	8,279	8,195	8,053	7,990
Total Long-Term Debt	3,665	3,673	3,753	3,864	4,163	4,069	4,026	8,251	8,164	8,021	7,958
Net Debt	3,612	3,621	3,709	3,813	4,041	4,007	4,000	8,226	8,134	8,001	7,947
Capital Expenditures (CapEx)	434	253	209	326	141	523	216	276	451	291	300
Debt-free, Cash-free Net Working Capital (DFCFNWC)	138	172	199	81	32	152	209	100	143	206	280
Debt-free Net Working Capital (DFNWC)	209	243	262	151	174	235	257	153	204	258	323
Net Working Capital (NWC)	191	224	243	132	154	214	235	125	173	226	291
Net Nonoperating Expense (NNE)	44	41	48	47	53	62	55	62	105	271	95
Net Nonoperating Obligations (NNO)	3,612	3,279	3,362	3,463	3,688	3,845	3,834	8,098	8,134	8,001	7,947
Total Depreciation and Amortization (D&A)	197	193	190	196	208	217	206	242	319	321	318
Debt-free, Cash-free Net Working Capital to Revenue	4.26%	5.24%	5.95%	2.39%	0.93%	4.26%	5.77%	2.65%	3.47%	4.71%	6.02%
Debt-free Net Working Capital to Revenue	6.46%	7.40%	7.83%	4.45%	5.04%	6.59%	7.09%	4.05%	4.95%	5.90%	6.94%
Net Working Capital to Revenue	5.90%	6.83%	7.26%	3.89%	4.47%	6.00%	6.48%	3.31%	4.20%	5.16%	6.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.99	$3.20	$2.30	$2.46	$4.30	($1.63)	($0.63)	($1.17)	$0.90	$0.93	($0.72)
Adjusted Weighted Average Basic Shares Outstanding	28.30M	28.50M	28.30M	28.40M	28.40M	28.40M	28.50M	30M	33.20M	31.30M	33.30M
Adjusted Diluted Earnings per Share	$3.96	$3.19	$2.29	$2.46	$4.28	($1.63)	($0.63)	($1.17)	$0.90	$0.93	($0.72)
Adjusted Weighted Average Diluted Shares Outstanding	28.50M	28.70M	28.40M	28.50M	28.50M	28.50M	28.50M	30M	33.30M	31.40M	33.30M
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	28.27M	28.32M	28.37M	28.39M	28.40M	28.46M	28.50M	33.24M	33.27M	33.37M	33.39M
Normalized Net Operating Profit after Tax (NOPAT)	157	132	113	117	175	16	89	112	165	156	75
Normalized NOPAT Margin	17.30%	15.92%	14.07%	13.85%	18.09%	1.69%	10.33%	11.18%	12.65%	12.91%	6.58%
Pre Tax Income Margin	16.08%	14.78%	10.07%	10.97%	16.58%	-4.52%	-0.93%	-4.59%	2.91%	1.41%	-2.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	2.33	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	1.85	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	-1.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	-1.57	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	20.62%	21.04%	21.16%	21.83%	21.55%	36.49%	60.94%	343.48%	-120.29%	8,700.00%	-1,800.00%
Augmented Payout Ratio	68.36%	55.62%	43.19%	25.66%	25.29%	36.49%	60.94%	343.48%	-120.29%	8,700.00%	-1,800.00%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, data-driven snapshot of Herc Holdings Inc (HRI) using quarterly statements from the past four years. The focus is on trends in revenue, margins, cash flow, profitability, and leverage that tend to matter for retail investors.

Revenue momentum in 2025: quarterly operating revenue rose to about $1.30B in Q3 2025 and remained strong at about $1.21B in Q4 2025, up from $0.86B in Q1 2025.
Stable gross margin: total gross profit remained in the low-to-mid 30s% range across 2025 (roughly 32–34%), indicating solid profitability despite top-line swings.
Healthy operating cash flow: cash from continuing operating activities stayed robust through 2025 (e.g., roughly $171M in Q1, $241M in Q2, $358M in Q3, and $315M in Q4), supporting ongoing capex and financing activities.
Return to quarterly profitability in the back half of 2025: net income attributable to common shareholders was positive in Q3 ($30M) and Q4 ($24M), signaling improvement after earlier quarterly losses.
Strategic financing activity in mid-2025: large debt issuances in 2025 helped fund investments and expansion, reflecting a growth-oriented capital structure dynamics.
Asset growth and intangibles: by mid-2025 the balance sheet shows an expanded asset base with significant goodwill (~$2.9B) and intangible assets (~$1.6B), which can support growth but add impairment risk and higher depreciation/amortization in future periods.
Leverage context: long-term debt sits around $8.2B–$8.3B with total liabilities near $12B and equity around $1.9B, indicating a high overall leverage level typical for a capital‑intensive business but important for evaluating risk and coverage metrics.
Earnings per share volatility: quarterly EPS swung from negative in Q1 2025 and Q2 2025 to positive in Q3/Q4 2025, reflecting cyclicality in earnings and charges (e.g., restructuring, impairment) that can affect near-term per-share results.
Profitability remains cyclical: despite improvements later in 2025, earlier quarters (notably Q1 and Q2 2025) showed net losses, underscoring ongoing earnings variability.
Significant capital deployment and debt load: ongoing heavy capex and substantial debt financing contribute to near-term liquidity and leverage risk if operating cash flow pressures worsen.

05/18/26 07:09 PM ETAI Generated. May Contain Errors.

Herc Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Herc's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Herc's net income appears to be on an upward trend, with a most recent value of $1 million in 2025, falling from $111.30 million in 2015. The previous period was $211 million in 2024. Find out what analysts predict for Herc in the coming months.

Herc's total operating income in 2025 was $471 million, based on the following breakdown:

Total Gross Profit: $1.46 billion
Total Operating Expenses: $987 million

Over the last 10 years, Herc's total revenue changed from $1.68 billion in 2015 to $4.38 billion in 2025, a change of 160.8%.

Herc's total liabilities were at $11.83 billion at the end of 2025, a 82.5% increase from 2024, and a 980.2% increase since 2015.

In the past 10 years, Herc's cash and equivalents has ranged from $15.70 million in 2015 to $83 million in 2024, and is currently $52 million as of their latest financial filing in 2025.

Over the last 10 years, Herc's book value per share changed from 5.18 in 2015 to 58.55 in 2025, a change of 1,030.2%.

Related Companies

Financial statements for NYSE:HRI last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Herc (HRI) Financials

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Herc (HRI) Financials

Annual Income Statements for Herc

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When does Herc's fiscal year end?

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What is Herc's operating income?

How has Herc's revenue changed over the last 10 years?

How much debt does Herc have?

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How has Herc's book value per share changed over the last 10 years?

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