Herc (HRI) financial statements
Herc reported revenue of $4.4B in fiscal 2025, up 12.2% a year over 9 years.
Net income was $1M.
Free cash flow was $928M, and the company returned $87M in dividends.
The diluted share count rose 11% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Herc's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $1.8B | $2.0B | $2.0B | $1.8B | $2.1B | $2.7B | $3.3B | $3.6B | $4.4B |
| Cost of revenue | $53M | $40M | — | — | — | — | — | — | — | — |
| Gross profit | $1.5B | $1.7B | — | — | — | — | — | — | — | — |
| Selling, general and admin | $275M | $319M | $311M | $295M | $257M | $310M | $411M | $440M | $469M | $564M |
| Interest expense | — | — | $137M | $174M | $93M | $86M | $122M | — | — | — |
| Pre-tax income | -$5M | -$64M | $69M | $64M | $94M | $291M | $434M | $447M | $291M | $1M |
| Income tax | $15M | -$225M | -$300,000 | $16M | $20M | $67M | $104M | $100M | $80M | $0 |
| Net income | -$20M | $160M | $69M | $48M | $74M | $224M | $330M | $347M | $211M | $1M |
| EPS (diluted) | -$0.70 | $5.60 | $2.39 | $1.63 | $2.51 | $7.37 | $10.92 | $12.09 | $7.40 | $0.03 |
| Diluted shares | 28M | 29M | 29M | 29M | 29M | 30M | 30M | 29M | 28M | 31M |
| Gross margin | 96.6% | 97.7% | — | — | — | — | — | — | — | — |
| Net margin | -1.3% | 9.1% | 3.5% | 2.4% | 4.1% | 10.8% | 12.0% | 10.6% | 5.9% | 0.0% |
Balance sheet
Fiscal years, from Herc's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $24M | $42M | $28M | $33M | $33M | $35M | $54M | $71M | $83M | $52M |
| Receivables | $293M | $386M | $332M | $307M | $301M | $388M | $523M | $563M | $589M | $769M |
| Inventory | $24M | $24M | $18M | — | — | — | — | — | — | — |
| Total current assets | $372M | $474M | $400M | $400M | $367M | $470M | $644M | $732M | $776M | $956M |
| Property, plant and equipment | $272M | $286M | $282M | $312M | $290M | $308M | $392M | $465M | $554M | $868M |
| Goodwill | $91M | $91M | $91M | $94M | $100M | $232M | $419M | $483M | $670M | $2.9B |
| Total assets | $3.5B | $3.5B | $3.6B | $3.8B | $3.6B | $4.5B | $6.0B | $7.1B | $7.9B | $13.8B |
| Total current liabilities | $243M | $291M | $299M | $323M | $328M | $530M | $604M | $508M | $562M | $730M |
| Long-term debt | $2.2B | $2.1B | $2.1B | $2.1B | $1.7B | $1.9B | $2.9B | $3.7B | $4.1B | $8.0B |
| Total liabilities | $3.1B | $3.0B | $3.0B | $3.2B | $2.8B | $3.5B | $4.8B | $5.8B | $6.5B | $11.8B |
| Shareholders' equity | $318M | $510M | $573M | $644M | $742M | $977M | $1.1B | $1.3B | $1.4B | $1.9B |
| Net debt | $2.2B | $2.1B | $2.1B | $2.0B | $1.6B | $1.9B | $2.9B | $3.6B | $4.0B | $8.0B |
Cash flow
Fiscal years, from Herc's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $433M | $349M | $559M | $636M | $611M | $743M | $917M | $1.1B | $1.2B | $1.1B |
| Capital spending | $48M | $75M | $78M | $57M | $41M | $47M | $104M | $156M | $161M | $157M |
| Free cash flow | $386M | $274M | $482M | $579M | $570M | $696M | $813M | $930M | $1.1B | $928M |
| Stock-based compensation | $6M | $10M | $13M | $20M | $16M | $23M | $27M | $18M | $17M | $34M |
| Dividends paid | — | — | — | $0 | $0 | $15M | $68M | $73M | $77M | $87M |
| Share buybacks (net) | $0 | $0 | — | — | $0 | $0 | -$115M | -$120M | $0 | $0 |
| Net borrowing | $0 | -$247M | -$124M | $336M | $0 | $0 | $0 | $0 | $800M | $3.5B |
| Free cash flow margin | 24.8% | 15.6% | 24.4% | 28.9% | 32.0% | 33.6% | 29.7% | 28.3% | 29.8% | 21.2% |
| Dividends per share | — | — | — | — | — | $0.49 | $2.25 | $2.54 | $2.70 | $2.77 |
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Open HRI in InvestinglyQuestions
What was Herc's revenue in 2025?
$4.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Herc generate?
$928M in fiscal 2025 (operating cash flow minus capital spending).
From Herc's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.