# Hertz Global Holdings share price today (Hertz Global Holdings, Inc., HTZ)

> Hertz Global Holdings, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. HTZ · Industrials · Rental & Leasing Services · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/htz

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## Key numbers

- Price: $2.07 (−59.6% in a year)
- Revenue (Jun 2026): $2.4 B (+9.7% on a year ago)
- Profit (Jun 2026): $64.0 M
- Operating margin: 7.1% (+2.5 points on a year ago)
- ROE: 163%, FY25
- ROIC: 1.4%, against a 4.0% cost of capital: −2.6 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Hertz Global Holdings share price today? Hertz Global Holdings, Inc.'s share price was $2.07 at the close on 3 November 2026. That is 44.5% below its average price over the last 200 trading days. In the last 52 weeks it traded between $2 and $7, and at that close it sat 8% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 1 week running. Over the last 1 year the share price moved −73% while the S&P 500 moved +21%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Hertz Global Holdings pay? Hertz Global Holdings, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Hertz Global Holdings on? Hertz Global Holdings is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Hertz Global Holdings profitable? Hertz Global Holdings, Inc. earned $64.0 M of net profit in the Jun 2026 quarter. The full FY25 year was a loss of $747 M. That is 2.7% of the quarter's revenue. The same quarter a year earlier lost $294 M. 9 of the last 12 reported quarters were loss-making. ## How much revenue does Hertz Global Holdings make, and is it growing? Hertz Global Holdings, Inc. reported $2.4 B of revenue in the Jun 2026 quarter, +9.7% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 4 years it has grown 3.8% a year on average. The last full year, FY25, came in at $8.5 B. The last four reported quarters add to $8.9 B. FY25 revenue was $8.5 B, −6.0% on the year before. Recent pace: the last four quarters grew +4.0% on average, against 3.8% a year over the longer run, so this year is growing at about the same pace as its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +3.4%, against −2.2% a year over the last 8 quarters (accelerating). ## How much of every $100 of sales does Hertz Global Holdings keep? Hertz Global Holdings, Inc.'s operating margin was 7.1% in the Jun 2026 quarter, 2.5 percentage points higher than the same quarter a year ago. Across 5 years it has been between −12.7% and 27.7%. The latest quarter is within that range. Why the margin moved: operating margin changed +2.5 percentage points on the year while gross margin changed +2.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Hertz Global Holdings' profit turning into cash? Over the last 3 years, 224% of Hertz Global Holdings, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $1.6 B of operating cash against −$747 M of profit. After $2.2 B of spending on assets, free cash was −$569 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Hertz Global Holdings' cash go? Hertz Global Holdings, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $9.3 B on assets over the last 3 years. Averaged over those years that is 36.6% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $9.3 B over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Hertz Global Holdings' P/E ratio, and how does it compare with its own history? Hertz Global Holdings, Inc. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Hertz Global Holdings, Inc. at 0.1× its FY25 revenue of $8.5 B. The P/E comes back here once profit turns positive. ## Is the Hertz Global Holdings business getting better or worse? Hertz Global Holdings, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The return-on-capital line is not shown: net worth is negative, so a return on capital means nothing. The balance sheet is in distress, and this reading uses the growth lines alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Hertz Global Holdings earn on its capital? Hertz Global Holdings, Inc. earned a ROE of 163% in FY25. That is up from a low of −1,871% in FY24. Its return on capital used (ROIC) is 2.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −8.8% net margin and 0.38× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −8.8% net margin × 0.38× asset turnover × −48.61× leverage (assets divided by equity) ≈ 162.6% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 1.4% − 4.0% = −2.6 percentage points. The 4.0% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 1.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 0.2%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Hertz Global Holdings have too much debt? Hertz Global Holdings, Inc.'s net worth is negative: it owes more than it owns, so a debt-to-equity ratio means nothing here. Year by year, that ratio went from 4.17 in FY21 to −42.11 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the Hertz Global Holdings shareholding pattern? 74.2% of Hertz Global Holdings, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 7.6 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Hertz Global Holdings from balance-sheet trouble? For Hertz Global Holdings, Inc., the Z-score is 0.11. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 0.11 is inside the danger zone, so the balance sheet is a real risk. ## How does Hertz Global Holdings rank in its industry? 40.5 out of 100, rank 13 of 18 in Rental & Leasing Services, with 64% of the evidence available. Hertz Global Holdings, Inc. scores 40.5 out of 100 against the 18 companies it is compared with in Rental & Leasing Services, ranking 13. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.2 + 4.5 + 10.9 + 3.9 = 40.5. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Hertz Global Holdings compared with? Hertz Global Holdings ranks 13 of 18 Rental & Leasing Services companies on the 4-Factor Sector Score, with 40.5 out of 100. 1. [United Rentals, Inc.](https://www.sectoralpha.in/us/stocks/uri) URI · turning · Most evidence points up · 85% evidence 70.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 9.4% · Profit 12.9% · Operating margin change 2.7 points · 95% evidence Capital efficiency 19.4/25 · ROCE 16.4% · Operating margin 29.2% · 76% evidence Valuation 10.0/20 · P/E 21.8× · PEG 1.28 · 65% evidence Relative strength 17.0/20 · Lead over its industry 12.8% · Lead over S&P 500 18.1% · 1 year 38.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.8 + 19.4 + 10 + 17 = 70.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [AerCap Holdings N.V.](https://www.sectoralpha.in/us/stocks/aer) AER · turning · Most evidence points up · 81% evidence 69.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.0/35 · Revenue 12.3% · Profit 15.1% · Operating margin change 7 points · 83% evidence Capital efficiency 13.9/25 · ROCE 7.7% · Operating margin 57.5% · 76% evidence Valuation 15.7/20 · P/E 6.8× · PEG 0.26 · 65% evidence Relative strength 14.0/20 · Lead over its industry 2.1% · Lead over S&P 500 7.4% · 1 year 22.2% · 100% evidence · 1 of 12 weeks ahead Exact sum: 26 + 13.9 + 15.7 + 14 = 69.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Sunbelt Rentals Holdings, Inc.](https://www.sectoralpha.in/us/stocks/sunb) SUNB · turning · Evidence leans up · 85% evidence 59.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.1/35 · Revenue 5.8% · Profit -8.9% · Operating margin change 0.7 points · 95% evidence Capital efficiency 17.1/25 · ROCE 11.5% · Operating margin 22.4% · 76% evidence Valuation 11.7/20 · P/E 21.2× · PEG 1.1 · 65% evidence Relative strength 14.6/20 · Lead over its industry 3.8% · Lead over S&P 500 8.9% · 1 year 34.1% · 100% evidence · 2 of 12 weeks ahead Exact sum: 16.1 + 17.1 + 11.7 + 14.6 = 59.5 · What this means: Relative strength against the index is 8.9%, and revenue and profit growth are weak. 4. [Custom Truck One Source, Inc.](https://www.sectoralpha.in/us/stocks/ctos) CTOS · turning · Evidence leans up · 74% evidence 58.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue 7% · Profit n/a · Operating margin change 2.8 points · 62% evidence Capital efficiency 8.4/25 · ROCE 6.9% · Operating margin 9.3% · 76% evidence Valuation 11.8/20 · P/E 125.4× · PEG 0.95 · 65% evidence Relative strength 16.5/20 · Lead over its industry 17.2% · Lead over S&P 500 21.9% · 1 year 84.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.4 + 8.4 + 11.8 + 16.5 = 58.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [McGrath RentCorp](https://www.sectoralpha.in/us/stocks/mgrc) MGRC · turning · Evidence leans up · 81% evidence 57.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.8/35 · Revenue -1% · Profit -39.3% · Operating margin change -1 points · 83% evidence Capital efficiency 16.5/25 · ROCE 10.3% · Operating margin 23.3% · 76% evidence Valuation 14.4/20 · P/E 19.5× · PEG 0.36 · 65% evidence Relative strength 17.0/20 · Lead over its industry 7% · Lead over S&P 500 12.4% · 1 year 27.1% · 100% evidence · 1 of 12 weeks ahead Exact sum: 9.8 + 16.5 + 14.4 + 17 = 57.7 · What this means: Relative strength against the index is 12.4%, and revenue and profit growth are weak. 6. [Ryder System, Inc.](https://www.sectoralpha.in/us/stocks/r) R · turning · Evidence leans up · 68% evidence 56.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.0/35 · Revenue n/a · Profit n/a · Operating margin change 0.4 points · 45% evidence Capital efficiency 12.4/25 · ROCE 8.5% · Operating margin 9.5% · 76% evidence Valuation 6.5/20 · P/E 16.9× · PEG 2.45 · 65% evidence Relative strength 16.9/20 · Lead over its industry 12.5% · Lead over S&P 500 17.5% · 1 year 66.3% · 100% evidence · 2 of 12 weeks ahead Exact sum: 21 + 12.4 + 6.5 + 16.9 = 56.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [PROG Holdings, Inc.](https://www.sectoralpha.in/us/stocks/prg) PRG · quiet · Evidence leans up · 66% evidence 53.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.8/35 · Revenue n/a · Profit n/a · Operating margin change -0.7 points · 39% evidence Capital efficiency 20.3/25 · ROCE 21.5% · Operating margin 16.6% · 76% evidence Valuation 10.6/20 · P/E 12.7× · PEG 1.33 · 65% evidence Relative strength 6.1/20 · Lead over its industry -3.6% · Lead over S&P 500 0.6% · 1 year 33.6% · 100% evidence · 2 of 12 weeks ahead Exact sum: 16.8 + 20.3 + 10.6 + 6.1 = 53.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [GATX Corporation](https://www.sectoralpha.in/us/stocks/gatx) GATX · turning · Evidence leans up · 81% evidence 51.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/35 · Revenue 22.7% · Profit 14.9% · Operating margin change -4.3 points · 83% evidence Capital efficiency 11.6/25 · ROCE 3.5% · Operating margin 27.8% · 76% evidence Valuation 11.7/20 · P/E 17.4× · PEG 1.13 · 65% evidence Relative strength 9.4/20 · Lead over its industry -5% · Lead over S&P 500 -0.2% · 1 year 19.8% · 100% evidence · 1 of 12 weeks ahead Exact sum: 18.8 + 11.6 + 11.7 + 9.4 = 51.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Willis Lease Finance Corporation](https://www.sectoralpha.in/us/stocks/wlfc) WLFC · basing · Evidence leans up · 81% evidence 51.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.6/35 · Revenue 18.4% · Profit -25.6% · Operating margin change 1.4 points · 83% evidence Capital efficiency 14.3/25 · ROCE 8.3% · Operating margin 37.7% · 76% evidence Valuation 14.0/20 · P/E 18.7× · PEG 0.78 · 65% evidence Relative strength 1.2/20 · Lead over its industry -31.3% · Lead over S&P 500 -28.4% · 1 year 7.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.6 + 14.3 + 14 + 1.2 = 51.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Herc Holdings Inc.](https://www.sectoralpha.in/us/stocks/hri) HRI · turning · Evidence leans down · 74% evidence 49.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.5/35 · Revenue 28.5% · Profit 100% · Operating margin change -3.8 points · 62% evidence Capital efficiency 9.6/25 · ROCE 5% · Operating margin 12.2% · 76% evidence Valuation 6.9/20 · P/E 97.7× · PEG 1.91 · 65% evidence Relative strength 16.0/20 · Lead over its industry 9.4% · Lead over S&P 500 14.8% · 1 year 24% · 100% evidence · 3 of 12 weeks ahead Exact sum: 16.5 + 9.6 + 6.9 + 16 = 49 · What this means: Relative strength against the index is 14.8%, and revenue and profit growth are weak. 11. [Vestis Corporation](https://www.sectoralpha.in/us/stocks/vsts) VSTS · turning · Evidence leans down · 64% evidence 47.9 out of 100 Growth Capital Valuation Relative
12. [Alta Equipment Group Inc.](https://www.sectoralpha.in/us/stocks/altg) ALTG · quiet · Evidence leans down · 64% evidence 40.9 out of 100 Growth Capital Valuation Relative
13. Hertz Global Holdings, Inc. this page HTZ · basing · Evidence leans down · 64% evidence 40.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.2/35 · Revenue 3.4% · Profit n/a · Operating margin change 2.5 points · 62% evidence Capital efficiency 4.5/25 · ROCE 1.5% · Operating margin 7.1% · 76% evidence Valuation 10.9/20 · P/E -2.6× · PEG n/a · 15% evidence Relative strength 3.9/20 · Lead over its industry -54.2% · Lead over S&P 500 -51.5% · 1 year -68.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 21.2 + 4.5 + 10.9 + 3.9 = 40.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 14. [Avis Budget Group, Inc.](https://www.sectoralpha.in/us/stocks/car) CAR · basing · Evidence leans down · 64% evidence 40.0 out of 100 Growth Capital Valuation Relative
15. [WillScot Holdings Corporation](https://www.sectoralpha.in/us/stocks/wsc) WSC · basing · Evidence leans down · 71% evidence 35.7 out of 100 Growth Capital Valuation Relative
16. [U-Haul Holding Company](https://www.sectoralpha.in/us/stocks/uhal) UHAL · quiet · Most evidence points down · 71% evidence 29.8 out of 100 Growth Capital Valuation Relative
17. [EquipmentShare.com Inc.](https://www.sectoralpha.in/us/stocks/eqpt) EQPT · quiet · Too little evidence to rank firmly · 44% evidence 44.1 out of 100 Growth Capital Valuation Relative
18. Neutron Holdings, Inc. LIME · quiet · Too little evidence to rank firmly · 28% evidence 33.7 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Rental & Leasing Services](https://www.sectoralpha.in/us/sectors/rental-leasing-services), all 18 compared on one page. ## Which companies are close to Hertz Global Holdings in size? Hertz Global Holdings is the 16th largest of 17 Rental & Leasing Services companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: McGrath RentCorp, Custom Truck One Source, Inc., Vestis Corporation, PROG Holdings, Inc. and Willis Lease Finance Corporation. Just below it: Alta Equipment Group Inc. ### Rental & Leasing Services companies close in size

1. [McGrath RentCorp](https://www.sectoralpha.in/us/stocks/mgrc) $3.2 billion
2. [Custom Truck One Source, Inc.](https://www.sectoralpha.in/us/stocks/ctos) $2.4 billion
3. [Vestis Corporation](https://www.sectoralpha.in/us/stocks/vsts) $1.9 billion
4. [PROG Holdings, Inc.](https://www.sectoralpha.in/us/stocks/prg) $1.4 billion
5. [Willis Lease Finance Corporation](https://www.sectoralpha.in/us/stocks/wlfc) $910 million
6. Hertz Global Holdings, Inc. $738 million
7. [Alta Equipment Group Inc.](https://www.sectoralpha.in/us/stocks/altg) $238 million

[All 17 Rental & Leasing Services companies, largest first](https://www.sectoralpha.in/us/sectors/rental-leasing-services#all-companies)

### Companies close in size in other industries

1. [Donegal Group Inc.](https://www.sectoralpha.in/us/stocks/dgica) $696 million · Insurance - Property & Casualty
2. [AGNT, Inc](https://www.sectoralpha.in/us/stocks/agnt) $695 million · Real Estate Services
3. Hertz Global Holdings, Inc. $695 million
4. [Bar Harbor Bankshares](https://www.sectoralpha.in/us/stocks/bhb) $695 million · Banks - Regional
5. [Wave Life Sciences Ltd.](https://www.sectoralpha.in/us/stocks/wve) $694 million · Biotechnology

## What else do people ask about Hertz Global Holdings? ### What were Hertz Global Holdings's latest quarterly results? Hertz Global Holdings, Inc. reported revenue of $2.4 B and net profit of $64.0 M for the Jun 2026 quarter. Earnings per share were $0.06. The operating margin was 7.1%, 2.5 percentage points higher than a year earlier (as of 3 November 2026). ### What is Hertz Global Holdings's market cap? Hertz Global Holdings, Inc.'s market capitalisation is $738 M at a stock price of $2.07. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Hertz Global Holdings performing? Hertz Global Holdings, Inc.'s latest readings are below. Over the past 13 weeks it has done worse than the S&P 500, for 1 week running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Hertz Global Holdings's stock price go up? This page does not forecast Hertz Global Holdings, Inc.'s stock price. What it shows instead: the stock price is $2.07. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Is Hertz Global Holdings's profit real cash? Yes, over the last 3 years, 224% of Hertz Global Holdings, Inc.'s reported profit came in as cash from operations. The latest year was lower at -218%, so the trend is worth watching. In FY25, operating cash was $1.6 B against reported profit of −$747 M. Most of that cash then goes into building new capacity. These are yearly figures (as of 3 November 2026). ### Where is Hertz Global Holdings in its business cycle? Hertz Global Holdings, Inc.'s FY25 operating margin was 0.3%, against a 5-year range of −12.7% to 27.7%: the middle of its own range, neither a peak nor a low. The latest quarter was 7.1%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Hertz Global Holdings story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Hertz Global Holdings a stock worth studying right now? What the numbers show: Hertz Global Holdings, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. The main open question: whether the business can earn its way back to positive net worth before new shares or a restructuring get there first. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.