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Hertz Global Holdings cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$9.0M in Q1 2026 · $1.1B over twelve months

Operating cash flow$20.0M
Capital spending−$29.0M
Free cash flow−$9.0M

Analysis

In Q1 2026, Hertz Global Holdings generated $20.0M of operating cash flow and spent $29.0M on capital projects, leaving free cash flow of −$9.0M. That is $238M less than in Q1 2025 ($229M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.2B; the largest uses were other investing ($2.3B), capital spending ($111M); besides operations, cash came from other financing ($686M), asset & business sales ($148M); the cash balance fell by $426M.

Operating cash flow was $20.0M against net income of −$333M. The largest differences: accrued liabilities −$251M, receivables −$73.0M, prepaid and other assets −$53.0M.

Free cash flow

Hertz Global Holdings: free cash flow by quarterHertz Global Holdings: free cash flow by quarter$390MQ4 2024$229MQ1 2025$324MQ2 2025$809MQ3 2025$166MQ4 2025−$9.0MQ1 2026
Operating cash flow less capital spending.
Hertz Global Holdings: operating cash flow against capital spendingHertz Global Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$414M$24.0MQ4 2024$251M$22.0MQ1 2025$346M$22.0MQ2 2025$835M$26.0MQ3 2025$193M$27.0MQ4 2025$20.0M$29.0MQ1 2026
Latest (Q1 2026): Operating cash flow $20.0M, Capital spending $29.0M.

Capital allocation, year by year

Hertz Global Holdings: where the cash came from (up) and went (down), by fiscal yearHertz Global Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $1.8BFY2021: Shares issued $1.4BFY2021: Asset sales $887MFY2021: Capital spending −$71.0MFY2021: Buybacks −$654M$4.1BFY2021FY2022: Operating cash flow $2.5BFY2022: Asset sales $12.0MFY2022: Capital spending −$150MFY2022: Buybacks −$2.5B$2.5BFY2022FY2023: Operating cash flow $2.5BFY2023: Asset sales $181MFY2023: Capital spending −$188MFY2023: Buybacks −$315M$2.7BFY2023FY2024: Operating cash flow $2.2BFY2024: Asset sales $23.0MFY2024: Capital spending −$105M$2.2BFY2024FY2025: Operating cash flow $1.6BFY2025: Asset sales $200MFY2025: Capital spending −$97.0M$1.8BFY2025
Over these 5 years operating cash flow totalled $10.7B; the largest uses were buybacks ($3.4B) and capital spending ($611M). Cash-flow statements as filed.

Where the cash came from and went

Hertz Global Holdings: sources (+) and uses (−) of cash, Q1 2026Hertz Global Holdings: sources (+) and uses (−) of cash, Q1 2026Other financing$1.1BOther investing−$1.1BCash drawn (+) / kept (−)−$52.0MCapital spending−$29.0MOperating cash flow$20.0MAsset & business sales$6.0MExchange rates−$6.0M
Hertz Global Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Hertz Global Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$2.3BOperating cash flow$1.2BOther financing$686MCash drawn (+) / kept (−)$426MAsset & business sales$148MCapital spending−$111MExchange rates−$5.0M

From profit to cash

Hertz Global Holdings: net income to operating cash flow, Q1 2026Hertz Global Holdings: net income to operating cash flow, Q1 2026Net income−$333MDepreciation & amortization$26.0MStock-based pay$17.0MDeferred taxes$26.0MReceivables−$73.0MPayables$46.0MAccrued liabilities−$251MPrepaid and other assets−$53.0MIncome taxes payable$24.0MOperating cash flow$20.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q1 2026$20.0M−$29.0M−$52.0M−$9.0M
Q4 2025$193M−$27.0M$382M$166M
Q3 2025$835M−$26.0M−$420M$809M
Q2 2025$346M−$22.0M−$108M$324M
Q1 2025$251M−$22.0M$112M$229M
Q4 2024$414M−$24.0M−$228M$390M

Hertz Global Holdings: income statement and cash flow

Hertz Global Holdings, Q3 2026: revenue $2.6B (+6% year over year), operating margin 3.3%. The chart follows the revenue to costs, profit and cash.

Hertz Global Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.