Key Stats
Annual revenue reached $9.05 billion in 2024, with Q3 2025 revenue of $2.5 billion.
Market capitalization stands at approximately $1.59 billion as of November 2025.
Operates more than 11,000 rental locations across 160 countries worldwide.
Achieved record fleet utilization of 84% in Q3 2025, the highest since 2018.
Manages brands including Hertz, Dollar, Thrifty, and Firefly vehicle rental services.
Hertz Global Holdings operates as one of the leading car rental and mobility solutions providers in the world. The company maintains a significant presence through its subsidiaries and licensees across North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East, and New Zealand.
The business operates through two primary segments. The Americas Rental Car segment focuses on operations throughout the United States, Canada, Latin America, and the Caribbean. The International Rental Car segment handles vehicle rental and sales of vehicles and value-added services in other locations globally.
Founded in 1918, the company has evolved through multiple ownership changes and strategic acquisitions. Hertz successfully emerged from Chapter 11 bankruptcy in 2021 and has since focused on operational transformation and fleet optimization strategies. The company’s headquarters is located in Estero, Florida.
Hertz Global Holdings History
Walter L. Jacobs founded Rent-a-Car Inc. in Chicago with a dozen Model T Ford cars, pioneering the car rental industry in America.
John D. Hertz purchased the company and renamed it “Hertz Drive-Ur-Self System,” expanding the fleet to 600 vehicles.
General Motors acquired a controlling interest in the company as part of purchasing Yellow Truck and Coach Manufacturing Company.
John Hertz repurchased the rental car business from General Motors through his Omnibus Corporation.
The Hertz Corporation went public on the New York Stock Exchange and acquired Metropolitan Distributors for $6.75 million.
RCA acquired Hertz in a merger deal, operating it as a wholly owned but separate subsidiary entity.
Ford Motor Company purchased Hertz through Park Ridge Corporation for $1.3 billion, relocating headquarters to New Jersey.
Private equity firms acquired Hertz for approximately $15 billion including debt, marking the end of Ford ownership.
Hertz Global Holdings returned to public markets through an initial public offering on the New York Stock Exchange.
Completed acquisition of Dollar Thrifty Automotive Group for $2.3 billion, creating a combined 10,400 locations globally.
Filed for Chapter 11 bankruptcy on May 22 due to the severe impact of the COVID-19 pandemic on travel demand.
Successfully emerged from bankruptcy reorganization on July 1, restructuring debt and repositioning for future growth.
Returned to profitability with $184 million net income in Q3, achieving positive earnings per share for the first time in two years.
Hertz Global Holdings Co-founders
Founded the world’s first car rental business in Chicago at age 22. Started with 12 Model T Fords and grew the operation to 600 vehicles generating $1 million annually before selling to John Hertz in 1923.
Purchased Jacobs’ rental car company in 1923 and gave it the Hertz name. Previously built Yellow Cab and Yellow Truck businesses. Repurchased the company from GM in 1953 and took it public in 1954.
Hertz Global Holdings Revenue
Revenue performance reflects the company’s position as a major player in the global car rental industry. Annual revenue reached $9.05 billion in 2024.
The company experienced significant revenue volatility during the pandemic years but has been working to stabilize performance. Third quarter 2025 revenue hit $2.5 billion as the company executed its operational transformation strategy.
Revenue growth has been supported by the company’s multi-brand strategy and expanded global footprint. Hertz focuses on maximizing revenue per unit through improved fleet management and customer service initiatives.
Hertz Global Holdings Competitors
The car rental industry remains highly competitive with several major players vying for market share across different customer segments and geographic regions.
| Competitor | Parent Company | Market Position |
|---|---|---|
| Enterprise Rent-A-Car | Enterprise Holdings | Market leader with largest fleet |
| National Car Rental | Enterprise Holdings | Business traveler focus |
| Alamo Rent-A-Car | Enterprise Holdings | Leisure market specialist |
| Avis | Avis Budget Group | Premium and business segment |
| Budget | Avis Budget Group | Value-conscious travelers |
| Payless | Avis Budget Group | Budget-friendly options |
| Sixt | Sixt SE | European leader, global expansion |
| Europcar | Europcar Mobility Group | European focus |
| Turo | Independent | Peer-to-peer car sharing |
| Zipcar | Avis Budget Group | Urban car sharing |
Enterprise Holdings dominates with approximately 37% market share, while Hertz holds around 36% globally. The industry faces increasing competition from peer-to-peer platforms and ride-sharing services that have disrupted traditional rental models.
Hertz Global Holdings Acquisitions
Strategic acquisitions have played a key role in shaping the company’s competitive position and expanding its service offerings throughout its history.
The acquisition of Metropolitan Distributors in 1954 marked an early expansion into truck leasing. This $6.75 million purchase added 4,000 trucks to the fleet, bringing total assets to 15,500 trucks and 12,900 passenger cars. The deal positioned Hertz as a diversified vehicle rental provider serving both consumer and commercial markets.
In 2009, Hertz acquired British Car Auctions from Montagu Private Equity for approximately £390 million. The used car dealer was intended to complement Hertz’s vehicle disposal operations. However, BCA was subsequently sold to Haversham Holdings without being fully integrated into the Hertz business structure.
The most significant acquisition came in November 2012 when Hertz completed its purchase of Dollar Thrifty Automotive Group for $2.3 billion. The transaction followed a lengthy pursuit and required Federal Trade Commission approval. Hertz agreed to divest its Advantage Rent-a-Car brand to address antitrust concerns about reduced competition in airport rental markets.
The Dollar Thrifty deal transformed Hertz into a multi-brand rental car leader. Dollar Thrifty was the fourth-largest car rental company at the time, bringing established brands with strong airport concession infrastructure in the mid-tier value segment. The combination created approximately 10,400 locations in around 150 countries with combined annual sales of $10.2 billion.
Hertz anticipated at least $160 million in annual cost synergies from the Dollar Thrifty merger. Benefits included higher productivity from shared assets, elimination of duplicate functions, and improved supplier negotiations. The acquisition gave Hertz the ability to compete across premium and value market segments against multi-brand competitors like Enterprise Holdings and Avis Budget Group.
Following the Dollar Thrifty acquisition, Hertz sold the Advantage business to Franchise Services of North America and Macquarie Capital as required by the FTC settlement. The divestiture ensured continued competition by establishing Advantage as the fourth-largest car rental competitor in the United States with operations at key airport locations previously served by Dollar Thrifty.
Hertz Global Holdings Market Cap
Market capitalization reflects investor valuation of the company’s equity. As of November 2025, market cap stands at approximately $1.59 billion.
The company’s market value has experienced significant fluctuations over the past decade. The stock reached a 52-week high of $9.39 in April 2025 and a 52-week low of $2.77 in November 2024, demonstrating ongoing volatility as the company works through its transformation strategy.
FAQs
Who founded Hertz Global Holdings?
Walter L. Jacobs founded the company in 1918 in Chicago with 12 Model T Ford cars. John D. Hertz purchased it in 1923 and gave the company its current name.
What brands does Hertz Global Holdings operate?
Hertz operates four main vehicle rental brands: Hertz, Dollar Rent A Car, Thrifty Car Rental, and Firefly Car Rental. It also runs Hertz Car Sales and Hertz 24/7 car sharing in select markets.
When did Hertz file for bankruptcy?
Hertz filed for Chapter 11 bankruptcy protection on May 22, 2020, due to the COVID-19 pandemic impact on travel demand. The company emerged from bankruptcy on July 1, 2021.
How many locations does Hertz have worldwide?
Hertz operates more than 11,000 rental locations across 160 countries globally through company-operated facilities, licensees, and franchisees in North America, Europe, Latin America, Africa, Asia, Australia, Caribbean, Middle East, and New Zealand.
What is Hertz Global Holdings current financial status?
Hertz returned to profitability in Q3 2025 with $184 million net income and positive earnings per share. Annual 2024 revenue was $9.05 billion with market capitalization of approximately $1.59 billion as of November 2025.
