Hertz’s stock reflects a leveraged turnaround with $2.2bn liquidity, focusing on debt restructuring and fleet utilization improvements.
Hertz Global Holdings Inc. (HTZ) shares were priced at $6.14 as of May 1, with trailing and forward P/E ratios of 23.71 and 11.78, respectively. The company is navigating a multi-year turnaround following its 2021 bankruptcy emergence, addressing a complex capital structure and near-term earnings volatility.
The firm’s capital structure includes $11bn in non-recourse ABS financing secured by fleet assets and $5–6bn in corporate-level debt. Despite negative LTM EBITDA, Hertz maintains $2.2bn in liquidity, supported by revolver capacity and recent financing actions, aiming for recovery through FY26–FY27.
Operationally, Hertz is seeing improved fleet utilization, normalized depreciation per unit, and stable used vehicle pricing, mitigating prior EV-related volatility.