Herc Holdings Inc (NYSE: HRI) is an equipment rental company that rents industrial, construction, and specialty equipment to customers across North America. Revenue is generated primarily through time-based rental fees charged on a transactional basis, with additional income from equipment sales, re-rent, and services. The 10-K filed 2026-02-17 (accession 000136447926000050) covers the fiscal year ended December 31, 2025. Herc operates one of the larger equipment rental networks in North America, competing in a capital-intensive industry where fleet size, branch density, and utilization rates drive returns. The business requires continuous reinvestment in fleet to maintain competitiveness, making it structurally debt-heavy. Demand is tied to construction activity, industrial output, and infrastructure spending across the end markets Herc serves.

Revenue model

Transactional rental fees charged over the duration of equipment use, supplemented by equipment sales, re-rent revenue, and ancillary services.

Products and services

Equipment rental including aerial work platforms, earthmoving equipment, material handling, fluid management, power and HVAC, and specialty equipment.

Customers and end markets

Construction contractors, industrial facilities, infrastructure projects, and commercial customers across North America.

Value-chain role

Equipment rental intermediary that owns, maintains, and deploys fleet assets to end customers on a short- or long-term rental basis.

Geographic exposure

North America, with operations across the United States and Canada.

Source: SEC 10-K, filed 2026-02-17

Industry: Services-Miscellaneous Equipment Rental & Leasing Peers: SUMISHO AIR LEASE CORP Applied Industrial Technologies Inc QXO BUILDING PRODUCTS, INC. Boise Cascade Co Fastenal Co GATX Corp GMS Inc. McGrath RentCorp Rush Enterprises Inc Univar Solutions Inc.