HTZHERTZ GLOBAL HOLDINGS, INC
Services-Auto Rental & Leasing (no Drivers)
- Revenue
- $244M
- 2.1% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $605M
- Employees
- —
- Net debt / EBITDA
- —
- $15.1B net debt
- AI in 10-K
- 1.8
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes26% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.8 per 10K words · 52nd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$605M market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DYes2 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$248K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $171M | $230M | $237M | $239M | $244M | 2.1% |
| Net income | $365M | $2.1B | $616M | −$2.9B | −$747M | 74% |
| Operating cash flow | $1.8B | $2.5B | $2.5B | $2.2B | $1.6B | 27% |
| Stock-based comp | $10M | $130M | $87M | $63M | $63M | 0.0% |
| Buybacks | $654M | $2.5B | $315M | $0 | $0 |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Oct 21, 2026 | CK Amarillo LP | SCHEDULE 13D/A | 50.9% | Active |
| Oct 5, 2026 | CK Amarillo LP | SCHEDULE 13D/A | 20.4% | Active |
| Aug 24, 2026 | CK Amarillo LP | SCHEDULE 13D/A | 50.9% | Passive |
| Aug 10, 2026 | CK Amarillo LP | SCHEDULE 13D/A | 50.9% | Passive |
| Mar 2, 2026 | CK Amarillo LP | SCHEDULE 13D/A | 58.1% | Passive |
| Mar 26, 2025 | CK Amarillo LP | SCHEDULE 13D/A | 59.1% | Passive |
| Jul 2, 2024 | CK Amarillo LP | SC 13D/A | 59.3% | Passive |
| Nov 7, 2023 | CK Amarillo LP | SC 13D/A | 59.0% | Passive |
| Apr 28, 2023 | CK Amarillo LP | SC 13D/A | 57.6% | Passive |
| Feb 9, 2023 | CK Amarillo LP | SC 13D/A | 56.3% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $248K · 1
- Net
- −$248K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 16 | 140 |
| FY2024 | — | — | 11 | 121 |
| FY2023 | — | — | 32 | 103 |
| FY2022 | — | — | 47 | 79 |
| FY2021 | — | — | 77 | 91 |