What is Herc Holdings's earnings per share (EPS)?

Herc Holdings (HRI) reported diluted earnings per share of $0.03 for fiscal year 2025. This represents a -99.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Herc Holdings Financials

HRI

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Herc Holdings (HRI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI HRI FY2025 2026-04-28

Herc’s cash-generative operating model was overshadowed in FY2025 by a debt-heavy balance-sheet expansion that diluted accounting returns.

FY2025 shows a sharp earnings-quality disconnect: operating cash flow remained $1.1B even as net income collapsed to $1M. With free cash flow still at $928M and year-end cash just $52M, the business appears able to produce cash from operations, but the much larger balance sheet leaves little room to rely on cash-on-hand instead.

The jump in total assets to $13.8B from $7.9B makes FY2025 look like a step-change year, not a normal incremental one. Revenue increased, but returns on assets and equity fell to near zero, so the new asset base has not yet produced matching accounting profit or shareholder returns.

Long-term debt climbed to $8.0B from $4.1B, which explains why balance-sheet scale rose faster than liquidity. Even with a current ratio of 1.3x, only $52M of cash means day-to-day flexibility depends more on collections and operating cash flow than on cash reserves or unused slack.

Financial Health Signals

Financial Profile 37/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Herc Holdings's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Herc Holdings's revenue surged 22.6% year-over-year to $4.4B, reflecting rapid business expansion. This strong growth earns a score of 59/100.

Leverage

Herc Holdings has elevated debt relative to equity (D/E of 4.12), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 18/100, reflecting increased financial risk.

Liquidity

Herc Holdings's current ratio of 1.31 is below the typical benchmark, resulting in a score of 21/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Herc Holdings converts 21.2% of revenue into free cash flow ($928.0M). This strong cash generation earns a score of 88/100.

Returns

Herc Holdings's ROE of 0.1% shows moderate profitability relative to equity, earning a score of 33/100. This is down from 15.1% the prior year.

Piotroski F-Score Weak

3/9

Herc Holdings passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1085.00x

For every $1 of reported earnings, Herc Holdings generates $1085.00 in operating cash flow ($1.1B OCF vs $1.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.4B

YoY+22.6%

5Y CAGR+19.7%

10Y CAGR-8.4%

Herc Holdings generated $4.4B in revenue in fiscal year 2025. This represents an increase of 22.6% from the prior year.

EBITDA

N/A

Net Income

$1.0M

YoY-99.5%

5Y CAGR-57.7%

10Y CAGR-37.6%

Herc Holdings reported $1.0M in net income in fiscal year 2025. This represents a decrease of 99.5% from the prior year.

EPS (Diluted)

$0.03

YoY-99.6%

5Y CAGR-58.7%

10Y CAGR-38.2%

Herc Holdings earned $0.03 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 99.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$928.0M

YoY-12.8%

5Y CAGR+10.3%

10Y CAGR+8.3%

Herc Holdings generated $928.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 12.8% from the prior year.

Cash & Debt

$52.0M

YoY-37.3%

5Y CAGR+9.5%

10Y CAGR+7.7%

Herc Holdings held $52.0M in cash against $8.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

$2.80

YoY+5.3%

Herc Holdings paid $2.80 per share in dividends in fiscal year 2025. This represents an increase of 5.3% from the prior year.

Shares Outstanding

33M

YoY+17.3%

5Y CAGR+2.6%

10Y CAGR+1.7%

Herc Holdings had 33M shares outstanding in fiscal year 2025. This represents an increase of 17.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

0.0%

YoY-5.9pp

5Y CAGR-4.1pp

10Y CAGR-1.0pp

Herc Holdings's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.9 percentage points from the prior year.

Return on Equity

0.1%

YoY-15.1pp

5Y CAGR-9.9pp

10Y CAGR-4.8pp

Herc Holdings's ROE was 0.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 15.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

Herc Holdings spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$157.0M

YoY-2.5%

5Y CAGR+30.6%

10Y CAGR+7.4%

Herc Holdings invested $157.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 2.5% from the prior year.

HRI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$4.4B+22.6%	$3.6B+8.7%	$3.3B+19.8%	$2.7B+32.2%	$2.1B+16.4%	$1.8B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$564.0M+20.3%	$469.0M+6.6%	$440.0M+7.1%	$411.0M+32.6%	$310.0M+20.4%	$257.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	-$224.0M-283.6%	$122.0M+41.4%	$86.3M-6.8%	$92.6M
Income Tax	$0-100.0%	$80.0M-20.0%	$100.0M-3.8%	$104.0M+55.2%	$67.0M+228.4%	$20.4M
Net Income	$1.0M-99.5%	$211.0M-39.2%	$347.0M+5.2%	$330.0M+47.3%	$224.0M+203.9%	$73.7M
EPS (Diluted)	$0.03-99.6%	$7.40-38.8%	$12.09+10.7%	$10.92+48.2%	$7.37+193.6%	$2.51

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$1.1B-5.8%	$1.2B-7.3%	$1.3B+30.1%	$1.0B+16.4%	$861.0M-9.5%	$951.0M-1.5%	$965.0M+13.8%	$848.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$146.0M-4.6%	$153.0M-7.8%	$166.0M+30.7%	$127.0M+7.6%	$118.0M-1.7%	$120.0M0.0%	$120.0M+2.6%	$117.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$1.0M+114.3%	-$7.0M-187.5%	$8.0M+172.7%	-$11.0M-210.0%	$10.0M+233.3%	$3.0M-92.1%	$38.0M+65.2%	$23.0M
Net Income	-$24.0M-200.0%	$24.0M-20.0%	$30.0M+185.7%	-$35.0M-94.4%	-$18.0M+60.9%	-$46.0M-137.7%	$122.0M+74.3%	$70.0M
EPS (Diluted)	$-0.72	N/A	$0.90+176.9%	$-1.17-85.7%	$-0.63	N/A	$4.28+74.0%	$2.46

HRI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$13.8B+74.9%	$7.9B+11.6%	$7.1B+18.5%	$6.0B+32.7%	$4.5B+25.1%	$3.6B
Current Assets	$956.0M+23.2%	$776.0M+6.0%	$732.0M+13.7%	$644.0M+37.1%	$469.7M+27.9%	$367.1M
Cash & Equivalents	$52.0M-37.3%	$83.0M+16.9%	$71.0M+31.5%	$54.0M+53.8%	$35.1M+6.4%	$33.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$769.0M+30.6%	$589.0M+4.6%	$563.0M+7.6%	$523.0M+34.8%	$388.1M+28.9%	$301.2M
Goodwill	$2.9B+328.8%	$670.0M+38.7%	$483.0M+15.3%	$419.0M+80.6%	$232.0M+130.8%	$100.5M
Total Liabilities	$11.8B+82.5%	$6.5B+12.0%	$5.8B+19.4%	$4.8B+38.0%	$3.5B+23.4%	$2.8B
Current Liabilities	$730.0M+29.9%	$562.0M+10.6%	$508.0M-15.9%	$604.0M+14.0%	$529.9M+61.6%	$328.0M
Long-Term Debt	$8.0B+97.1%	$4.1B+10.8%	$3.7B+25.7%	$2.9B+52.5%	$1.9B+16.0%	$1.7B
Total Equity	$1.9B+39.5%	$1.4B+9.7%	$1.3B+14.9%	$1.1B+13.4%	$977.0M+31.7%	$742.0M
Retained Earnings	$547.0M-13.6%	$633.0M+27.1%	$498.0M+122.3%	$224.0M+519.5%	-$53.4M+80.8%	-$277.5M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$13.6B-1.5%	$13.8B-1.1%	$13.9B-0.6%	$14.0B+81.9%	$7.7B-2.2%	$7.9B-3.6%	$8.2B+7.9%	$7.6B
Current Assets	$919.0M-3.9%	$956.0M-1.8%	$974.0M+3.3%	$943.0M+33.0%	$709.0M-8.6%	$776.0M-8.8%	$851.0M+18.7%	$717.0M
Cash & Equivalents	$43.0M-17.3%	$52.0M-14.8%	$61.0M+15.1%	$53.0M+10.4%	$48.0M-42.2%	$83.0M-41.5%	$142.0M+102.9%	$70.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$760.0M-1.2%	$769.0M-5.1%	$810.0M+4.1%	$778.0M+40.4%	$554.0M-5.9%	$589.0M-5.5%	$623.0M+9.3%	$570.0M
Goodwill	$2.9B-0.4%	$2.9B-2.0%	$2.9B+1.0%	$2.9B+325.4%	$682.0M+1.8%	$670.0M+1.7%	$659.0M+11.7%	$590.0M
Total Liabilities	$11.7B-1.4%	$11.8B-1.4%	$12.0B-0.9%	$12.1B+90.8%	$6.3B-2.1%	$6.5B-3.2%	$6.7B+7.8%	$6.2B
Current Liabilities	$628.0M-14.0%	$730.0M-8.9%	$801.0M-2.1%	$818.0M+72.6%	$474.0M-15.7%	$562.0M-19.4%	$697.0M+19.1%	$585.0M
Long-Term Debt	$8.0B-0.8%	$8.0B-1.8%	$8.2B-1.1%	$8.3B+104.9%	$4.0B-1.1%	$4.1B-2.3%	$4.2B+7.7%	$3.9B
Total Equity	$1.9B-2.6%	$1.9B+1.0%	$1.9B+0.9%	$1.9B+40.7%	$1.4B-2.7%	$1.4B-5.5%	$1.5B+8.4%	$1.4B
Retained Earnings	$500.0M-8.6%	$547.0M0.0%	$547.0M+1.3%	$540.0M-9.2%	$595.0M-6.0%	$633.0M-9.3%	$698.0M+17.3%	$595.0M

HRI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.1B-11.4%	$1.2B+12.8%	$1.1B+18.4%	$917.0M+23.4%	$743.0M+21.6%	$610.9M
Capital Expenditures	$157.0M-2.5%	$161.0M+3.2%	$156.0M+50.0%	$104.0M+121.3%	$47.0M+13.5%	$41.4M
Free Cash Flow	$928.0M-12.8%	$1.1B+14.4%	$930.0M+14.4%	$813.0M+16.8%	$696.0M+22.2%	$569.5M
Investing Cash Flow	-$4.9B-227.2%	-$1.5B+4.4%	-$1.6B+6.0%	-$1.7B-75.2%	-$960.0M-362.7%	-$207.5M
Financing Cash Flow	$3.8B+1179.9%	$299.0M-41.6%	$512.0M-34.8%	$785.0M+256.8%	$220.0M+154.2%	-$406.0M
Dividends Paid	$87.0M+13.0%	$77.0M+5.5%	$73.0M+7.4%	$68.0M+353.3%	$15.0M	$0
Share Buybacks	$0	$0-100.0%	$120.0M+4.3%	$115.0M	$0	$0

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$277.0M-12.1%	$315.0M-12.0%	$358.0M+48.5%	$241.0M+40.9%	$171.0M-48.3%	$331.0M-1.5%	$336.0M+5.7%	$318.0M
Capital Expenditures	$41.0M+20.6%	$34.0M-20.9%	$43.0M-8.5%	$47.0M+42.4%	$33.0M-2.9%	$34.0M-39.3%	$56.0M+36.6%	$41.0M
Free Cash Flow	$236.0M-16.0%	$281.0M-10.8%	$315.0M+62.4%	$194.0M+40.6%	$138.0M-53.5%	$297.0M+6.1%	$280.0M+1.1%	$277.0M
Investing Cash Flow	-$183.0M-22.0%	-$150.0M+35.9%	-$234.0M+94.7%	-$4.4B-3228.6%	-$133.0M+50.4%	-$268.0M+50.6%	-$543.0M-34.4%	-$404.0M
Financing Cash Flow	-$103.0M+41.1%	-$175.0M-50.9%	-$116.0M-102.8%	$4.2B+5841.1%	-$73.0M+39.7%	-$121.0M-143.4%	$279.0M+200.0%	$93.0M
Dividends Paid	$24.0M+4.3%	$23.0M0.0%	$23.0M+15.0%	$20.0M-4.8%	$21.0M+10.5%	$19.0M0.0%	$19.0M0.0%	$19.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0	$0	$0

HRI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	0.0%-5.9pp	5.9%-4.7pp	10.6%-1.5pp	12.0%+1.2pp	10.8%+6.7pp	4.1%
Return on Equity	0.1%-15.1pp	15.1%-12.2pp	27.3%-2.5pp	29.8%+6.9pp	22.9%+13.0pp	9.9%
Return on Assets	0.0%-2.7pp	2.7%-2.2pp	4.9%-0.6pp	5.5%+0.5pp	5.0%+2.9pp	2.1%
Current Ratio	1.31-0.1	1.38-0.1	1.44+0.4	1.07+0.2	0.89-0.2	1.12
Debt-to-Equity	4.12+1.2	2.91+0.0	2.89+0.2	2.64+0.7	1.96-0.3	2.23
FCF Margin	21.2%-8.6pp	29.8%+1.5pp	28.3%-1.3pp	29.7%-3.9pp	33.6%+1.6pp	32.0%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-2.1%-4.1pp	2.0%-0.3pp	2.3%+5.8pp	-3.5%-1.4pp	-2.1%+2.8pp	-4.8%-17.5pp	12.6%+4.4pp	8.3%
Return on Equity	-1.3%-2.5pp	1.2%-0.3pp	1.6%+3.4pp	-1.8%-0.5pp	-1.3%+2.0pp	-3.3%-11.6pp	8.3%+3.1pp	5.1%
Return on Assets	-0.2%-0.3pp	0.2%-0.1pp	0.2%+0.5pp	-0.3%-0.0pp	-0.2%+0.3pp	-0.6%-2.1pp	1.5%+0.6pp	0.9%
Current Ratio	1.46+0.2	1.31+0.1	1.22+0.1	1.15-0.3	1.50+0.1	1.38+0.2	1.220.0	1.23
Debt-to-Equity	4.19+0.1	4.12-0.1	4.23-0.1	4.32+1.4	2.96+0.0	2.91+0.1	2.82-0.0	2.84
FCF Margin	20.7%-2.5pp	23.2%-0.9pp	24.2%+4.8pp	19.4%+3.3pp	16.0%-15.2pp	31.2%+2.2pp	29.0%-3.6pp	32.7%

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Frequently Asked Questions

What is Herc Holdings's annual revenue?

Herc Holdings (HRI) reported $4.4B in total revenue for fiscal year 2025. This represents a 22.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Herc Holdings's revenue growing?

Herc Holdings (HRI) revenue grew by 22.6% year-over-year, from $3.6B to $4.4B in fiscal year 2025.

Is Herc Holdings profitable?

Yes, Herc Holdings (HRI) reported a net income of $1.0M in fiscal year 2025, with a net profit margin of 0.0%.

How much debt does Herc Holdings have?

As of fiscal year 2025, Herc Holdings (HRI) had $52.0M in cash and equivalents against $8.0B in long-term debt.

What is Herc Holdings's net profit margin?

Herc Holdings (HRI) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Herc Holdings pay dividends?

Yes, Herc Holdings (HRI) paid $2.80 per share in dividends during fiscal year 2025.

What is Herc Holdings's return on equity (ROE)?

Herc Holdings (HRI) has a return on equity of 0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Herc Holdings's free cash flow?

Herc Holdings (HRI) generated $928.0M in free cash flow during fiscal year 2025. This represents a -12.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Herc Holdings's operating cash flow?

Herc Holdings (HRI) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Herc Holdings's total assets?

Herc Holdings (HRI) had $13.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Herc Holdings's capital expenditures?

Herc Holdings (HRI) invested $157.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Herc Holdings have outstanding?

Herc Holdings (HRI) had 33M shares outstanding as of fiscal year 2025.

What is Herc Holdings's current ratio?

Herc Holdings (HRI) had a current ratio of 1.31 as of fiscal year 2025, which is considered adequate.

What is Herc Holdings's debt-to-equity ratio?

Herc Holdings (HRI) had a debt-to-equity ratio of 4.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Herc Holdings's return on assets (ROA)?

Herc Holdings (HRI) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Herc Holdings's Piotroski F-Score?

Herc Holdings (HRI) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Herc Holdings's earnings high quality?

Herc Holdings (HRI) has an earnings quality ratio of 1085.00x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Herc Holdings?

Herc Holdings (HRI) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.