HTZ (Hertz Global Holdings) Operating Income: $117 Mil (TTM As of Mar. 2026)

What is Hertz Global Holdings Operating Income?

Hertz Global Holdings HTZ -1.31% 57 Operating Income is $117 Mil as of Mar. 2026. GuruFocus rates HTZ with a GF Score™ of 57/100 and a GF Value™ of $5.59 (Possible Value Trap). The stock has 9 warning signs investors should review.

Hertz Global Holdings's Operating Income for the three months ended in Mar. 2026 was $-83 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $117 Mil.

Warning Sign:

Hertz Global Holdings Inc had lost money in 58% of the time over the past 12quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. Hertz Global Holdings's Operating Income for the three months ended in Mar. 2026 was $-83 Mil. Hertz Global Holdings's Revenue for the three months ended in Mar. 2026 was $2,004 Mil. Therefore, Hertz Global Holdings's Operating Margin % for the quarter that ended in Mar. 2026 was -4.14%.

Hertz Global Holdings's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Hertz Global Holdings's annualized ROC % for the quarter that ended in Mar. 2026 was -1.58%. Hertz Global Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -1.21%.

Hertz Global Holdings (NAS:HTZ) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Hertz Global Holdings's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	-332 * ( 1 - 0% )	/	( (21108	+	20949)	/ 2 )
=	-332	/	21028.5
=	-1.58 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	22311	-	2221	-	( 565	-	max(0, 3295	-	2277	+	565	))
=	21108

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	23288	-	2282	-	( 583	-	max(0, 2282	-	2339	+	583	))
=	20949

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Hertz Global Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-192	/	( ( (15349 + max(-509, 0))	+	(15847 + max(523, 0)) )	/	2 )
=	-192	/	( ( 15349	+	16370 )	/	2 )
=	-192	/	15859.5
=	-1.21 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1110	+	0	+	602)	-	(2221	+	0	+	0)
=	-509

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1120	+	0	+	636)	-	(2282	+	0	+	-1049)
=	523

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Hertz Global Holdings's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	-83	/	2004
	=	-4.14 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Hertz Global Holdings Operating Income Related Terms

Hertz Global Holdings Operating Income Historical Data

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The historical data trend for Hertz Global Holdings's Operating Income can be seen below:

Hertz Global Holdings Operating Income Chart

Hertz Global Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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2,035.00

2,075.00

766.00

-1,209.00

14.00

Hertz Global Holdings Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															-186.00	63.00	301.00	-164.00	-83.00

57GF Score

Hertz Global Holdings Inc HTZ

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Hertz Global Holdings Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $117 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $117 Mil mean?

Hertz Global Holdings (HTZ) has a Operating Income of $117 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Hertz Global Holdings and its competitors.

Is Hertz Global Holdings' Operating Income too high?

Hertz Global Holdings' current Operating Income is $117 Mil. Overall, Hertz Global Holdings has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Hertz Global Holdings' Operating Income compare to ALTG and MWG?

Hertz Global Holdings' Operating Income of $117 Mil can be compared against companies in the Business Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Business Services company?

A good Operating Income depends on the Business Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Hertz Global Holdings and its competitors. Hertz Global Holdings's current Operating Income is $117 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Hertz Global Holdings stock overvalued right now?

Based on GuruFocus' analysis, Hertz Global Holdings (HTZ) is currently considered Possible Value Trap. The stock's GF Value™ is $5.59, compared to a current price of $2.64 — trading 52.9% below its estimated fair value. The current Operating Income is $117 Mil. Hertz Global Holdings' overall GF Score™ is 57/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Hertz Global Holdings (HTZ), the current Operating Income is $117 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Hertz Global Holdings (HTZ) Overvalued in 2026?

Based on GuruFocus' analysis, Hertz Global Holdings stock appears to be undervalued. The current stock price of $2.64 is trading 52.9% below its estimated GF Value™ of $5.59. GuruFocus considers Hertz Global Holdings to be Possible Value Trap.

Key valuation signals for HTZ:

Operating Income: $117 Mil
GF Value™: $5.59 vs. price of $2.64 (52.9% below fair value)
GF Score™: 57/100 with 9 warning signs

No single metric tells the full story. See the HTZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Hertz Global Holdings Business Description

Industry Industrials Business Services

Comparable Companies ALTG MWG AIHS AITX BDST DWAY ZCAR WLFC PRG VSTS URI SUNB AER UHAL XPAR:AYV R BSP:RENT3 TSX:EFN TSE:8439 HKSE:02588

Other Exchanges HTZ1:Mexico AZK0:Germany

Address 8501 Williams Road, 3rd Floor, Estero, FL, USA, 33928

Website https://www.hertz.com

Hertz Global Holdings Inc is engaged principally in the business of renting vehicles through its Hertz, Dollar and Thrifty brands. The company has two reportable segments: i) 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, ii) 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 maintains a substantial network of company-operated rental locations, a majority of which are in Europe, and has franchisees and partners that operate rental locations under brands. Geographical markets include North America, Europe, Pacific Asia, Middle East and Africa, and Latin America.

57GF Score

Get the complete analysis for HTZ

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$2.64

Price

$5.59

GF Value

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