Hertz - Public Comps and Valuation Multiples

Hertz Overview

About Hertz

Hertz Global Holdings Inc is engaged principally in the business of renting vehicles through Hertz, Dollar and Thrifty brands. The Company has identified two reportable segments: Americas RAC: Rental of vehicles, as well as sales of vehicles and value-added services, in the U.S., Canada, Latin America and the Caribbean; International RAC: Rental of vehicles, as well as sales of vehicles and value-added services, in locations other than the U.S., Canada, Latin America and the Caribbean. The Company maintain a substantial network of company-operated rental locations, a majority of which are in Europe, and have franchisees and partners that operate rental locations under brands. Geographical markets includes U.S., Europe, Pacific Asia, Middle East and Africa, Latin America.

Founded

2015

HQ

Employees

26K+

Website

hertz.com

Sectors

Leasing & Rental Services
Service Providers

Financials

LTM Revenue $9.1B

LTM EBITDA -$1.1B

EV

$19.1B

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Hertz Financials

Hertz has a last 12-month revenue of $9.1B and a last 12-month EBITDA of -$1.1B.

In the most recent fiscal year, Hertz achieved revenue of $9.0B and an EBITDA of $1.8B.

Hertz expects next 12-month revenue of XXX and NTM EBITDA of XXX

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Hertz P&L

	FY 2023	FY 2024	FY 2025	LTM	NTM
Revenue	$9.4B	$9.0B	XXX	XXX	XXX
Gross Profit	$3.0B	$1.7B	XXX	XXX	XXX
Gross Margin	32%	19%	XXX	XXX	XXX
EBITDA	$3.6B	$1.8B	XXX	XXX	XXX
EBITDA Margin	39%	20%	XXX	XXX	XXX
Net Profit	$2.1B	$616M	XXX	XXX	XXX
Net Margin	22%	7%	XXX	XXX	XXX
Net Debt	$12.9B	$14.9B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

Hertz Stock Performance

As of April 15, 2025, Hertz's stock price is $4.

Hertz has current market cap of $1.2B, and EV of $19.1B.

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Hertz Stock Data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$19.1B	$1.2B	XXX	XXX	XXX	XXX	$-3.78

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Hertz Valuation Multiples

As of April 15, 2025, Hertz has market cap of $1.2B and EV of $19.1B.

Hertz's trades at 2.1x LTM EV/Revenue multiple, and -17.4x LTM EBITDA.

Analysts estimate Hertz's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

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Hertz Financial Valuation Multiples

	FY 2024	FY 2025E	FY 2026E	FY 2027E
EV	$19.1B	XXX	XXX	XXX
EV/Revenue	2.1x	XXX	XXX	XXX
EV/EBITDA	10.3x	XXX	XXX	XXX
P/E	-0.4x	XXX	XXX	XXX
P/E/Growth	n/a	XXX	XXX	XXX
EV/FCF	-2.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Hertz Valuation Multiples

Hertz's NTM/LTM revenue growth is 2%

Hertz's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $32K for the same period.

Over next 12 months, Hertz's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .

Analysts estimate Hertz's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

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Hertz Operational Valuation Multiples

	FY 2024	NTM	FY 2025E	FY 2026E	FY 2027E
Revenue Growth	-3%	XXX	XXX	XXX	XXX
EBITDA Margin	20%	XXX	XXX	XXX	XXX
EBITDA Growth	-49%	XXX	XXX	XXX	XXX
Rule of 40 (SaaS-only)	22%	XXX	XXX	XXX	XXX
Revenue per Employee	$0.3M	XXX	XXX	XXX	XXX
Opex per Employee	$32K	XXX	XXX	XXX	XXX
S&M Expenses to Revenue	n/a	XXX	XXX	XXX	XXX
G&A Expenses to Revenue	n/a	XXX	XXX	XXX	XXX
R&D Expenses to Revenue	n/a	XXX	XXX	XXX	XXX
Opex to Revenue	9%	XXX	XXX	XXX	XXX

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