HRI Industrials

Herc Holdings Inc.

$170.01+1.11%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Industrials
Industry: Rental & Leasing Services
Country: United States
Market cap: 5.7B USD
Enterprise value: 11.9B USD
Full-time employees: 9,600

Overall health

Strength: growing faster than most peersgrowing faster than peers
Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: less profitable than most peersless profitable than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.05 vs a peer median of 0.64), less short-term liquidity (current ratio 1.10 vs a peer median of 1.62) and more debt relative to equity (4.19× vs a peer median of 0.40×)higher risk: bigger price swings (beta 2.05 vs peers 0.64), less liquidity (current ratio 1.10 vs peers 1.62) and more debt vs equity (4.19× vs peers 0.40×)

Ranks #1,257 of 2,308 industrials companies (bottom 46%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 16% from December 2022 to July 2026.
Herc had 16% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Herc had 16% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock pay is large next to buybacks. Stock-based pay expense $69M vs $120M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Herc recorded $69M of stock-based pay expense and spent $120M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Herc recorded $69M of stock-based pay expense and spent $120M repurchasing shares.
Much more borrowing than peers. Debt is 4.2× equity vs a peer median of 0.4×.Debt is 4.2× equity vs peers 0.4×.
Debt is 4.2× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 4.2× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.
Borrowing rising faster than profit. Since 2022: debt +174%, operating profit −24%.
Herc's debt grew 174% since 2022 while operating profit changed −24%.

StockQuotient Score

49/ 100▼ 1 since Oct 27 close

Oct 5 52 → Nov 4 49 (-3)

Valuation

Is the price right?

60/100

Moderate▼ 3 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 63 → 60

Share price +8.9%-4
Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield0.9%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.99Sector median: 0.0377 · MAD: 0.0294

EBITDA yield6.1%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.19Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield19.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 4.26Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield33.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

96/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 4.3%

Why

Stronger than most peers on:

▲ EPS growth
▲ Revenue growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth111.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 4.22Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth16.5%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.96Sector median: 0.0421 · MAD: 0.0625

Revenue growth28.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 3.15Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

38/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Turned profitable over the last 12 months

Why

Weaker than most peers on:

▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin11.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.82Sector median: 0.0773 · MAD: 0.0507

Return on assets0.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.14Sector median: 0.0311 · MAD: 0.0241

Return on invested capital4.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.44Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin31.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity2.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.05

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.49Sector median: 0.6440 · MAD: 0.2745

Current ratio1.10×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.96Sector median: 1.6180 · MAD: 0.5360

Debt / equity4.19×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -6.37Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Herc

Is Herc getting weaker?: Its latest SEC filing (Jul 28, 2026) got stronger: turned profitable over the last 12 months. Its overall score is 49/100, down 1 since Oct 28, 2026.
How is Herc valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 60/100 against 2,459 industrials peers. Free cash flow yield 19.4% vs a peer median of 3.7% (stronger than 93% of peers).Free cash flow yield 19.4% vs peers 3.7% (stronger than 93% of peers). Earnings yield 0.9% vs a peer median of 3.8% (weaker than 75% of peers).Earnings yield 0.9% vs peers 3.8% (weaker than 75% of peers).
Is Herc growing?: Yes, faster than most of its peers. Growth scores 96/100 against 2,459 industrials peers. Earnings per share growth 111.8% vs a peer median of 7.1% (stronger than 93% of peers).Earnings per share growth 111.8% vs peers 7.1% (stronger than 93% of peers).
How profitable is Herc?: Less profitable than most of its peers. Profitability scores 38/100 against 2,459 industrials peers. Operating margin 11.9% vs a peer median of 7.7% (stronger than 69% of peers).Operating margin 11.9% vs peers 7.7% (stronger than 69% of peers). Return on assets 0.4% vs a peer median of 3.1% (weaker than 80% of peers).Return on assets 0.4% vs peers 3.1% (weaker than 80% of peers).
How risky is Herc?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 2.05 vs a peer median of 0.64 (weaker than 100% of peers).Beta 2.05 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 28, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Turned profitable over the last 12 months

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.7B USD	4.9B USD	+4.3%
Net income (12 months)	−5.0M USD	49.0M USD	turned positive
Operating margin	10.1%	11.9%	+1.8 pts
Free cash flow (12 months)	1.0B USD	1.1B USD	+7.7%
Debt	8.0B USD	7.9B USD	−0.9%
Cash	43.0M USD	43.0M USD	0.0%
Shares outstanding	33.4M	33.4M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Rental & Leasing Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	14.1%	20.4%	20.2%	15.4%	9.7%	▼ 5.7 pts
Net margin	10.8%	12.0%	10.6%	5.9%	0.0%	▼ 5.9 pts
Return on assets (ROA)	5.0%	5.5%	4.9%	2.7%	0.0%	▼ 2.7 pts
Return on equity (ROE)	22.9%	29.8%	27.3%	15.1%	0.1%	▼ 15 pts
Free cash flow margin	33.6%	29.7%	28.3%	29.8%	21.2%	▼ 8.6 pts
Current ratio	0.89×	1.07×	1.44×	1.38×	1.31×	▼ 5.2%
Debt to equity	1.97×	2.65×	2.90×	2.93×	4.13×	▲ 41%
Interest coverage	3.38×	4.58×	—	—	—	—

HRI price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: less profitable than most peersless profitable than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.05 vs a peer median of 0.64), less short-term liquidity (current ratio 1.10 vs a peer median of 1.62) and more debt relative to equity (4.19× vs a peer median of 0.40×)higher risk: bigger price swings (beta 2.05 vs peers 0.64), less liquidity (current ratio 1.10 vs peers 1.62) and more debt vs equity (4.19× vs peers 0.40×)

Ranks #1,257 of 2,308 industrials companies (bottom 46%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 16% from December 2022 to July 2026.

Herc had 16% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Herc had 16% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock pay is large next to buybacks. Stock-based pay expense $69M vs $120M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Herc recorded $69M of stock-based pay expense and spent $120M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Herc recorded $69M of stock-based pay expense and spent $120M repurchasing shares.

Much more borrowing than peers. Debt is 4.2× equity vs a peer median of 0.4×.Debt is 4.2× equity vs peers 0.4×.

Debt is 4.2× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 4.2× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.

Borrowing rising faster than profit. Since 2022: debt +174%, operating profit −24%.

Herc's debt grew 174% since 2022 while operating profit changed −24%.

Questions investors ask about Herc

Is Herc getting weaker?

Its latest SEC filing (Jul 28, 2026) got stronger: turned profitable over the last 12 months. Its overall score is 49/100, down 1 since Oct 28, 2026.

How is Herc valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 60/100 against 2,459 industrials peers. Free cash flow yield 19.4% vs a peer median of 3.7% (stronger than 93% of peers).Free cash flow yield 19.4% vs peers 3.7% (stronger than 93% of peers). Earnings yield 0.9% vs a peer median of 3.8% (weaker than 75% of peers).Earnings yield 0.9% vs peers 3.8% (weaker than 75% of peers).

Is Herc growing?

Yes, faster than most of its peers. Growth scores 96/100 against 2,459 industrials peers. Earnings per share growth 111.8% vs a peer median of 7.1% (stronger than 93% of peers).Earnings per share growth 111.8% vs peers 7.1% (stronger than 93% of peers).

How profitable is Herc?

Less profitable than most of its peers. Profitability scores 38/100 against 2,459 industrials peers. Operating margin 11.9% vs a peer median of 7.7% (stronger than 69% of peers).Operating margin 11.9% vs peers 7.7% (stronger than 69% of peers). Return on assets 0.4% vs a peer median of 3.1% (weaker than 80% of peers).Return on assets 0.4% vs peers 3.1% (weaker than 80% of peers).

How risky is Herc?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Beta 2.05 vs a peer median of 0.64 (weaker than 100% of peers).Beta 2.05 vs peers 0.64 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.7B USD

4.9B USD

+4.3%

Net income (12 months)

−5.0M USD

49.0M USD

turned positive

Operating margin

10.1%

11.9%

+1.8 pts

Free cash flow (12 months)

1.0B USD

1.1B USD

+7.7%

Debt

8.0B USD

7.9B USD

−0.9%

Cash

43.0M USD

43.0M USD

0.0%

Shares outstanding

33.4M

33.4M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

14.1%

20.4%

20.2%

15.4%

9.7%

▼ 5.7 pts

Net margin

10.8%

12.0%

10.6%

5.9%

0.0%

▼ 5.9 pts

Return on assets (ROA)

5.0%

5.5%

4.9%

2.7%

0.0%

▼ 2.7 pts

Return on equity (ROE)

22.9%

29.8%

27.3%

15.1%

0.1%

▼ 15 pts

Free cash flow margin

33.6%

29.7%

28.3%

29.8%

21.2%

▼ 8.6 pts

Current ratio

0.89×

1.07×

1.44×

1.38×

1.31×

▼ 5.2%

Debt to equity

1.97×

2.65×

2.90×

2.93×

4.13×

▲ 41%

Interest coverage

3.38×

4.58×

—