olivLaw · US equity research
Herc Holdings Inc. HRI
Services-Miscellaneous Equipment Rental & Leasing · SIC 7350 · Vertical: Business services and software (SIC 735x)
Herc Holdings is one of the largest equipment rental suppliers in North America, with more than 600 locations and annual revenues close to 4.4 billion USD in 2025. After the H&E acquisition, the company relies on scale and network density to win large projects, and its growth pace in 2026 matters to investors.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Herc Holdings Inc. (HRI) stock was 149.81 USD (−5.43% on the day), with market capitalisation 5.0 bn USD, P/E 40.9 on diluted EPS of 3.66 USD over the last 12 months, dividend yield 1.87%, beta 1.70, 52-week range 91.04–181.12 USD. Latest reported quarter (Q3 2026): revenue of 1.4 bn USD (+4.6% YoY), net income of 104.0 m USD (+246.7% YoY), diluted EPS 3.10 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 52.8
- neutral
- Bollinger (20, 2)
- 103.47 – 179.20
- in the upper half of the band · %B 0.61 · band width 53.6%
- SMA 50 / 200
- 139.54 / 139.09
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 7.51 / 5.01
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +11.2% | −5.9% | +17.1 pp | — |
| 3 months | −10.9% | −4.6% | −6.3 pp | — |
| 6 months | +13.6% | +0.2% | +13.4 pp | — |
| Year to date | +1.0% | +7.4% | −6.5 pp | — |
| 1 year | +7.9% | +8.2% | −0.3 pp | +23.8% |
| 3 years | +29.3% | +68.4% | −39.1 pp | +25.4% |
| 5 years | −22.8% | +56.5% | −79.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 951.0 m | 861.0 m | 1.0 bn | 1.3 bn | 1.2 bn | 1.1 bn | 1.2 bn | 1.4 bn |
| SG&A | 120.0 m | 118.0 m | 127.0 m | 166.0 m | 153.0 m | 146.0 m | 155.0 m | 178.0 m |
| Pre-tax income | -43.0 m | -8.0 m | -46.0 m | 38.0 m | 17.0 m | -23.0 m | 24.0 m | 120.0 m |
| Income tax | 3.0 m | 10.0 m | -11.0 m | 8.0 m | -7.0 m | 1.0 m | 5.0 m | 16.0 m |
| Net income | -46.0 m | -18.0 m | -35.0 m | 30.0 m | 24.0 m | -24.0 m | 19.0 m | 104.0 m |
| Diluted EPS | -1.61 ≈ | -0.63 | -1.17 | 0.90 | 0.71 ≈ | -0.72 | 0.57 | 3.10 |
| Operating cash flow | 331.0 m | 171.0 m | 241.0 m ≈ | 358.0 m ≈ | 315.0 m | 277.0 m | 314.0 m ≈ | 360.0 m ≈ |
| Capex | 34.0 m | 33.0 m | 47.0 m ≈ | 43.0 m ≈ | 34.0 m | 41.0 m | 41.0 m ≈ | 25.0 m ≈ |
| Dividends paid | 19.0 m | 21.0 m | 20.0 m ≈ | 23.0 m ≈ | 23.0 m | 24.0 m | 23.0 m ≈ | 24.0 m ≈ |
| Share repurchases | 0 | — | — | — | — | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 94 percentile of its own 33-quarter history (min 5.4, median 15.3, max 152.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.0 bn | 2.0 bn | 1.8 bn | 2.1 bn | 2.7 bn | 3.3 bn | 3.6 bn | 4.4 bn |
| Revenue YoY | +12.7% | +1.1% | −10.9% | +16.4% | +32.2% | +19.8% | +8.7% | +22.6% |
| Net income | 69.1 m | 47.5 m | 73.7 m | 224.0 m | 330.0 m | 347.0 m | 211.0 m | 1.0 m |
| Net income YoY | −56.9% | −31.3% | +55.2% | +203.9% | +47.3% | +5.2% | −39.2% | −99.5% |
| Diluted EPS | 2.39 | 1.63 | 2.51 | 7.37 | 10.92 | 12.09 | 7.40 | 0.03 |
| Diluted EPS YoY | −57.3% | −31.8% | +54.0% | +193.6% | +48.2% | +10.7% | −38.8% | −99.6% |
| net % | 3.5% | 2.4% | 4.1% | 10.8% | 12.0% | 10.6% | 5.9% | 0.0% |
| Free cash flow | 481.5 m | 578.7 m | 569.5 m | 696.0 m | 813.0 m | 930.0 m | 1.1 bn | 928.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 52.0 m USD
- Financial debt
- 26.0 m USD
- Net debt
- -26.0 m USD
- Equity
- 1.9 bn USD
- Total assets
- 13.8 bn USD
- Debt / equity
- 0.01x
- Current ratio
- 1.31x
- ROE
- 0.1%
- ROA
- 0.0%
- FCF margin
- 21.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.8 bn | 2.1 bn | 2.7 bn | 3.3 bn | 3.6 bn | 4.4 bn | SEC (XBRL)· 17 Feb 2026verified |
| SG&A | 257.4 m | 310.0 m | 411.0 m | 440.0 m | 469.0 m | 564.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Interest expense | 92.6 m | 86.3 m | 122.0 m | — | — | — | SEC (XBRL)· 14 Feb 2023verified |
| Pre-tax income | 94.1 m | 291.0 m | 434.0 m | 447.0 m | 291.0 m | 1.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | 20.4 m | 67.0 m | 104.0 m | 100.0 m | 80.0 m | 0 | SEC (XBRL)· 17 Feb 2026verified |
| Net income | 73.7 m | 224.0 m | 330.0 m | 347.0 m | 211.0 m | 1.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | 2.51 | 7.37 | 10.92 | 12.09 | 7.40 | 0.03 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 29.4 m | 30.4 m | 30.2 m | 28.7 m | 28.5 m | 31.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Dividend per share | — | 0.50 | 2.30 | 2.53 | 2.66 | 2.80 | SEC (XBRL)· 17 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 33.0 m | 35.1 m | 54.0 m | 71.0 m | 83.0 m | 52.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Receivables | 301.2 m | 388.1 m | 523.0 m | 563.0 m | 589.0 m | 769.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 367.1 m | 469.7 m | 644.0 m | 732.0 m | 776.0 m | 956.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 290.4 m | 308.4 m | 392.0 m | 465.0 m | 554.0 m | 868.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | 100.5 m | 232.0 m | 419.0 m | 483.0 m | 670.0 m | 2.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 295.9 m | 388.7 m | 431.0 m | 467.0 m | 572.0 m | 1.7 bn | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 3.6 bn | 4.5 bn | 6.0 bn | 7.1 bn | 7.9 bn | 13.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 125.8 m | 280.6 m | 318.0 m | 212.0 m | 248.0 m | 337.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Short-term debt | 12.2 m | 11.4 m | 12.0 m | 15.0 m | 17.0 m | 26.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 328.0 m | 529.9 m | 604.0 m | 508.0 m | 562.0 m | 730.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 2.8 bn | 3.5 bn | 4.8 bn | 5.8 bn | 6.5 bn | 11.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 742.0 m † | 977.0 m † | 1.1 bn † | 1.3 bn † | 1.4 bn † | 1.9 bn † | SEC (XBRL)· 17 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 610.9 m | 743.0 m | 917.0 m | 1.1 bn | 1.2 bn | 1.1 bn | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 41.4 m | 47.0 m | 104.0 m | 156.0 m | 161.0 m | 157.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 569.5 m ≈ | 696.0 m ≈ | 813.0 m ≈ | 930.0 m ≈ | 1.1 bn ≈ | 928.0 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | -207.5 m | -960.0 m | -1.7 bn | -1.6 bn | -1.5 bn | -4.9 bn | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | -406.0 m | 220.0 m | 785.0 m | 512.0 m | 299.0 m | 3.8 bn | SEC (XBRL)· 17 Feb 2026verified |
| Dividends paid | 0 | 15.0 m | 68.0 m | 73.0 m | 77.0 m | 87.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Share repurchases | 0 | 0 | 115.0 m | 120.0 m | 0 | 0 | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 5.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality68
- Growth50
- Balance sheet23
- Returns56
- Valuation49
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 33.46 – 77.02 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E33.46 – 77.02 (Mid 62.99)11 companies used · median multiple 17.2x · quartiles 9.1x – 21.0xAER, EQPT, FTAI, KPLT, MGRC, NPKI, PRG, SUNB, TRTN-PA, UPBD, URI
- Dividend discount (DDM)36.79 – 49.48 (Mid 42.21)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 2.5% | 36 (vs peers) | 10% |
| FCF conversion · Quality | 914.6% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 16.9% | 100 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | -86.0% | 0 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.1x | 23 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 40.9x | 8 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 22.4% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 1.9% | 27 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 8.4% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial23/100 · 1/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality68/100 · 2/3 factors with a value
- Returns56/100 · 2/2 factors with a value
- Valuation49/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
HERC HOLDINGS INC. (HRI). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 4.4 bn USD in 2025; YoY growth 22.6%; net margin 2.5%; ROE 6.3%.
The estimated value range is 35.13–63.25 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 52.60 USD, the price of 149.81 USD leaves a potential of -64.9% (value / price − 1) and a margin of safety of -184.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 914.6%
- Revenue CAGR 3Y: 16.9%
- FCF yield: 22.4%
- Payout ratio (FCF): 8.4%
What contradicts it
- EPS CAGR 3Y: -86.0%
- Current ratio: 1.1x
- P/E (TTM): 40.9x
- Shareholder yield (distributions): 1.9%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Business services and software (SIC 735x) · same industry group (3-digit SIC) · compared with 14 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| URIUnited Rentals, Inc. | 64.6 bn | 22.6 | 30.6% | 16.3% | +4.9% | +28% / +119% |
| SUNBSunbelt Rentals Holdings, Inc. | 31.2 bn | 22.4 | 18.2% | 12.1% | +3.4% | unavailable / unavailable |
| AERAerCap Holdings N.V. | 27.7 bn | 7.8 | 21.1% | 44.0% | +6.5% | +24% / +144% |
| FTAIFtai Aviation Ltd. | 16.6 bn | 32.7 | 154.3% | 15.5% | +44.5% | −6% / +294% |
| HRIHerc Holdings Inc. | 5.0 bn | 40.9 | 6.3% | 2.5% | +22.6% | +8% / +29% |
| WSCWillscot Holdings Corporation | 3.2 bn | — | -6.0% | -2.6% | −4.8% | −10% / −57% |
| MGRCMcGRATH RENTCORP | 3.1 bn | 19.6 | 12.9% | 16.8% | +3.7% | +24% / +25% |
| TRTN-PATriton International Limited | 2.5 bn | 4.9 | 18.8% | 854.3% | +22.4% | −6% / −5% |
| CTOSCustom Truck One Source, Inc. | 2.1 bn | 70.4 | 3.7% | 1.4% | +7.9% | +46% / +60% |
| PRGProg Holdings, Inc. | 1.5 bn | 10.5 | 20.0% | 5.5% | +0.4% | +35% / +43% |
| UPBDUpbound Group, Inc. | 1.5 bn | 13.1 | 15.5% | 2.4% | +8.7% | +39% / −15% |
| EQPTEquipmentShare.com Inc | 1.1 bn | 17.4 | 7.4% | 1.3% | +16.3% | unavailable / unavailable |
| NPKINPK International Inc. | 723.4 m | 17.2 | 12.3% | 14.0% | +27.4% | −30% / +24% |
| KPLTKatapult Holdings, Inc. | 49.1 m | 7.0 | — | 5.4% | +18.0% | +59% / −10% |
| EHGOEShallGo Inc. | — | — | -117.3% | -69.4% | +21.1% | −66% / unavailable |
1- and 3-year price returns: for HRI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 98.30 Total return -33% · Per year -33% | 172.99 Total return 18% · Per year 18% | 259.48 Total return 76% · Per year 76% |
| 3 years | 116.60 Total return -17% · Per year -6% | 228.78 Total return 60% · Per year 17% | 373.66 Total return 159% · Per year 37% |
| 5 years | 138.30 Total return 2% · Per year 0% | 302.56 Total return 117% · Per year 17% | 538.07 Total return 278% · Per year 30% |
- Exit P/E± 57.19
- Net margin± 40.04
- Annual revenue growth± 29.86
- Annual dilution± 3.36
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 28 Jul 2026; since then the company filed 8-K (27 Oct 2026 · results), 10-Q (27 Oct 2026).
In brief
Herc Holdings is one of the largest equipment rental suppliers in North America, with more than 600 locations and annual revenues close to 4.4 billion USD in 2025 3. After the H&E acquisition, the company relies on scale and network density to win large projects, and its growth pace in 2026 matters to investors 23.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Cyclical demandhigh
The business depends on customer investment in construction and industry, which can fall sharply in periods of economic slowdown 1.
- High leveragehigh
Net debt rose after the H&E acquisition, and financing costs could weigh on profitability if interest rates stay high 23.
- Acquisition integrationmedium
The synergies promised from the H&E acquisition could be realized more slowly or at higher cost than estimated 1.
- Fuel and transport costsmedium
Rising fuel and transport costs can reduce margins if they cannot be passed on to customers 23.
- Supplier dependencelow
Delays in equipment deliveries from suppliers could affect the ability to meet demand 1.
Investment thesis
What would need to be true (bull case)
- If large projects keep growing, the company's scale and network density could let it gain more market share 3.
- The H&E integration appears complete, and key metrics improved in the second quarter of 2026 23.
- The raised 2026 guidance shows management sees solid demand and a good pipeline for the second half of the year 3.
What would break the thesis
What to watch
- Trend in fleet utilization and dollar utilizationQ3 2026
- Delivery against the raised revenue and adjusted EBITDA guidance2026
- Fuel costs and the adjusted EBITDA margin trendQ3 2026
- Net debt level and leverage after the acquisitionnext 10-Q
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 28 Jul 2026; since then the company filed 8-K (27 Oct 2026 · results), 10-Q (27 Oct 2026).
The business
Herc Holdings Inc. operates through its subsidiary Herc Rentals Inc. and is mainly engaged in renting equipment, with revenues from rentals, sales of used rental equipment, sales of new equipment and parts, and services 1. Equipment rental is the largest part of revenue, and the company grew in 2025 mainly through the H&E acquisition, which added about 160 branches 1. The offering includes classic equipment lines, specialty solutions and the ProControl digital platform 3.
The business depends on capital spending and maintenance by customers, especially contractors in construction and industrial clients, so the company is sensitive to economic cycles 1. The model depends on fleet utilization, pricing and the cost of financing, since most investment goes into equipment 1. Seasonality is significant, with demand lower in winter months, particularly in the northern United States and Canada 2.
In the first half of 2026 the company reported total revenues of 2343 mn USD, up year over year, and dollar utilization was nearly flat 3. Management raised its 2026 guidance, citing large projects and a higher mix of specialty equipment rentals 3.
Segments
Equipment rental
Equipment rental is the largest source of income, with 3770 mn USD in 2025 and growth of 18% 1. The growth came mainly from the H&E acquisition, while on a pro forma basis rental revenue fell 6% due to moderation in some local markets 1.
Market context
The equipment rental market is fragmented, with competitors ranging from small firms with one or two branches to public companies and dealer divisions 1. Demand depends on activity in construction, industry, oil and gas, infrastructure and mining 1. Management argues the current environment favors companies of scale 1.
The macroeconomic outlook remains uncertain, with high interest rates, inflation pressures and possible tariffs, and fuel costs rose in 2026 2. The company expects higher construction spending in 2026 and aims to gain share on large projects 3.
Trends
- Large projects and infrastructuretailwind
Activity on mega projects and infrastructure supports demand from national accounts, and management says the pipeline for the second half of the year looks strong 3. If these projects extend, the company's scale could become an advantage 3.
- Fuel costsheadwind
Higher fuel prices have hit margins, and operating expenses rose as a share of rental revenue 23. The company is taking further steps to offset this, but pressure could continue if prices stay elevated 3.
- Cost of financingheadwind
Higher interest rates and the debt raised for the H&E acquisition have increased financing costs, and management monitors exposure to floating rate debt 2. Pressure could ease if rates stabilize, though this is not certain 2.
- Market consolidation and scalemixed
Scale players can gain share in large rentals, and the H&E acquisition added fleet and network density 13. Integration of H&E is complete, but the benefits depend on execution 2.
Competitive position
Competition comes from thousands of small and regional operators and from dealers who both sell and rent equipment 1. Pressure on prices and on retaining employees can reduce rental volumes and margins 1.
The company's advantage comes from network scale, diversification across industries and the ability to serve national customers on complex projects 23. If smaller competitors gain share in local markets, this advantage could be tested 1.
- United RentalsURI
Leading American equipment rental company, comparable in business model and customers.
- Sunbelt Rentals
Rental operator with a broad network in North America and a direct rival on large projects.
- Regional and local operators
Firms with one to a few branches that compete on price in local markets.
- Equipment dealers
Sellers that rent and sell directly, competing for construction and industrial customers.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report27 Oct 2026
- Current report27 Oct 2026Results of operations · Financial statements and exhibits
- Current report26 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report03 Sept 2026Material agreement · Financial statements and exhibits
- Current report19 Aug 2026Departure or appointment of officers
- Quarterly report28 Jul 2026
- Current report28 Jul 2026Results of operations · Financial statements and exhibits
- Current report20 May 2026Shareholder vote
- Quarterly report28 Apr 2026
- Current report28 Apr 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Herc Holdings Inc. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Herc Holdings Inc. · 28 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Herc Holdings Inc. · 28 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.