<p><strong>赫兹全球</strong>(HTZ -1.92%) 与 <strong>亚马逊</strong>(AMZN -1.55%) 最近宣布达成一项协议，前者将在后者的网站上销售二手车。投资者显然相信这项交易将有助于赫兹的业务。他们将股价从 8 月 19 日的 5.20 美元推高至 8 月 27 日的 5.85 美元，涨幅达 12.5%。</p>
<p>是什么让投资者如此兴奋？更重要的是，这项交易是否为赫兹创造了长期价值的机会？是时候更深入地了解这项交易及赫兹的基本面了。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzA1MjEvZ2V0dHlpbWFnZXMtMjIwNzI3Njc1My0xMjAxeDgwMC01YjJkZjc5MS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzA1MjEvZ2V0dHlpbWFnZXMtMjIwNzI3Njc1My0xMjAxeDgwMC01YjJkZjc5MS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>交易细节</h2>
<p>赫兹将在亚马逊汽车网站上列出其二手车进行销售。然而，这目前只是一个测试，正在达拉斯、休斯顿、洛杉矶和西雅图的都市地区推出。购车者可以在网站上浏览可购买的二手车。一旦找到合适的车辆并完成购买，新车主可以在多个赫兹地点提车。</p>
<p>亚马逊汽车的好处显而易见，该平台在不到一年的时间内推出。该网站之前为购车者提供的选择有限。在这种安排下，亚马逊将大大增加多个品牌的上市数量。</p>
<h2>赫兹如何受益？</h2>
<p>如果购车者愿意在线购买二手车，他们将获得更简单、更便捷的流程，并有广泛的汽车选择。这可能会扩大赫兹的汽车销售。</p>
<p>目前，赫兹通过公司运营的美国零售地点销售其租赁车队的汽车。这也产生了其他收入，例如销售保修和提供融资。然而，目前尚不清楚赫兹销售了多少二手车。公司提到它销售数千辆，但这使得很难确定对赫兹现金流的影响。</p>
<p>尽管如此，如果与亚马逊的安排证明是互利的，赫兹将能够扩大二手车业务并多样化其收入来源。这也是执行首席执行官吉尔·韦斯特扩展零售业务和提高赫兹二手车品牌知名度计划的一步。</p>
<h2>你应该购买赫兹的股票吗？</h2>
<p>赫兹运营两个部门：美洲租车和国际租车。每个部门都租赁车辆并销售保险和卫星广播等服务。目前，赫兹的核心租赁业务面临困境，销售额下降，盈利能力下降。公司的第二季度总收入下降了 7%，降至 22 亿美元，调整某些项目后亏损 1.04 亿美元。</p>
<p>在核心租赁业务挣扎的情况下，扩展到其他领域似乎具有挑战性。然而，如果赫兹能够做到这一点，股东可能会看到基于公司估值的巨大上行空间。由于公司没有报告利润，可以使用市销率 (P/S) 而不是更传统的市盈率 (P/E)。赫兹的股价在过去一年中飙升了 74%，市销率在过去一年中翻了一番，但仍然较低，为 0.2。根据 <strong>罗素 2000</strong> 指数，小型资本化股票的市销率约为 1 以上。</p>
<p>然而，尽管与亚马逊的交易可能证明是有利的，但它仍处于测试阶段。因此，长期投资者可能希望暂时观望，至少在测试市场的结果出来之前。你将知道这是否进展顺利，如果亚马逊和赫兹决定扩大该计划。</p>

<p>赫兹全球与亚马逊宣布达成协议，赫兹将在亚马逊网站上销售二手车，这导致赫兹的股价上涨了 12.5%。该协议目前在部分大城市地区处于测试阶段，旨在扩大赫兹的汽车销售并多样化收入来源。尽管赫兹的核心租赁业务面临挑战，但如果合作成功，可能会带来长期价值。投资者被建议在对赫兹股票做出决策之前，等待测试市场的结果</p>

<p><strong>Hertz</strong> <strong>Global</strong>(HTZ -1.92%) and <strong>Amazon</strong>(AMZN -1.55%) recently announced a deal in which the former will sell used cars on the latter's website. Investors clearly believe the deal will help Hertz's business. They sent the share price up 12.5%, from $5.20 to $5.85, from Aug. 19 through Aug. 27.</p>
<div class="lb-trans"><p><strong>赫兹全球</strong>(HTZ -1.92%) 与 <strong>亚马逊</strong>(AMZN -1.55%) 最近宣布达成一项协议，前者将在后者的网站上销售二手车。投资者显然相信这项交易将有助于赫兹的业务。他们将股价从 8 月 19 日的 5.20 美元推高至 8 月 27 日的 5.85 美元，涨幅达 12.5%。</p>
</div><p>What has investors so excited? And, more importantly, is the deal a long-term value-creating opportunity for Hertz? It's time to look closer at the deal and Hertz's fundamentals.</p>
<div class="lb-trans"><p>是什么让投资者如此兴奋？更重要的是，这项交易是否为赫兹创造了长期价值的机会？是时候更深入地了解这项交易及赫兹的基本面了。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzA1MjEvZ2V0dHlpbWFnZXMtMjIwNzI3Njc1My0xMjAxeDgwMC01YjJkZjc5MS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F830521%2Fgettyimages-2207276753-1201x800-5b2df791.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Deal details</h2>
<div class="lb-trans"><h2>交易细节</h2>
</div><p>Hertz will list its used vehicles for sale on the Amazon Autos website. However, it's only a test right now, and it's being rolled out in the metro areas of Dallas, Houston, Los Angeles, and Seattle. Car buyers can go on the site and browse used vehicles to purchase. Once they find something and complete the purchase, the new car owner can pick up the vehicle at various Hertz locations.</p>
<div class="lb-trans"><p>赫兹将在亚马逊汽车网站上列出其二手车进行销售。然而，这目前只是一个测试，正在达拉斯、休斯顿、洛杉矶和西雅图的都市地区推出。购车者可以在网站上浏览可购买的二手车。一旦找到合适的车辆并完成购买，新车主可以在多个赫兹地点提车。</p>
</div><p>The benefits to Amazon Auto, which launched less than a year ago, are clear. The site previously offered car buyers with limited options. Under this arrangement, Amazon will greatly expand the number of listings across many more brands.</p>
<div class="lb-trans"><p>亚马逊汽车的好处显而易见，该平台在不到一年的时间内推出。该网站之前为购车者提供的选择有限。在这种安排下，亚马逊将大大增加多个品牌的上市数量。</p>
</div><h2>How does Hertz benefit?</h2>
<div class="lb-trans"><h2>赫兹如何受益？</h2>
</div><p>If car buyers are willing to shop online for used cars, they'll get an easier and more convenient process with a broad selection of automobiles. That could expand Hertz's car sales.</p>
<div class="lb-trans"><p>如果购车者愿意在线购买二手车，他们将获得更简单、更便捷的流程，并有广泛的汽车选择。这可能会扩大赫兹的汽车销售。</p>
</div><p>Currently, Hertz sells its rental fleet cars through company-operated U.S. retail locations. This also produces other revenue, such as from selling warranties and providing financing. It's unclear how many used vehicles Hertz sells, however. The company has mentioned that it sells thousands, but that makes it challenging to pinpoint the impact on Hertz's cash flow.</p>
<div class="lb-trans"><p>目前，赫兹通过公司运营的美国零售地点销售其租赁车队的汽车。这也产生了其他收入，例如销售保修和提供融资。然而，目前尚不清楚赫兹销售了多少二手车。公司提到它销售数千辆，但这使得很难确定对赫兹现金流的影响。</p>
</div><p>Still, if the arrangement with Amazon proves mutually beneficial, Hertz will be able to scale the used car business and diversify its revenue stream. It's also a step toward executing CEO Gil West's plan to expand its retail business and raise awareness of the Hertz used car brand</p>
<div class="lb-trans"><p>尽管如此，如果与亚马逊的安排证明是互利的，赫兹将能够扩大二手车业务并多样化其收入来源。这也是执行首席执行官吉尔·韦斯特扩展零售业务和提高赫兹二手车品牌知名度计划的一步。</p>
</div><h2>Should you buy Hertz's stock?</h2>
<div class="lb-trans"><h2>你应该购买赫兹的股票吗？</h2>
</div><p>Hertz operates two segments: Americas RAC and international RAC. Each division rents vehicles and sells services like insurance and satellite radio. Right now, Hertz's core rental business has been struggling, with shrinking sales and declining profitability. The company's total second-quarter revenue dropped 7% to $2.2 billion, and it lost $104 million after adjusting for certain items.</p>
<div class="lb-trans"><p>赫兹运营两个部门：美洲租车和国际租车。每个部门都租赁车辆并销售保险和卫星广播等服务。目前，赫兹的核心租赁业务面临困境，销售额下降，盈利能力下降。公司的第二季度总收入下降了 7%，降至 22 亿美元，调整某些项目后亏损 1.04 亿美元。</p>
</div><p>It seems challenging to expand into other areas while its core rental business has struggled. Still, if Hertz can pull it off, shareholders could see a lot of upside based on the company's valuation. You can use the price-to-sales (P/S) multiple rather than the more traditional price-to-earnings (P/E) ratio, since the company doesn't report a profit. Hertz's share price zoomed up 74% in the past year, and the P/S ratio doubled in the last year, but remains low at 0.2. Small capitalization stocks, as measured by the <strong>Russell 2000</strong> index, trade at about a P/S ratio of over 1.</p>
<div class="lb-trans"><p>在核心租赁业务挣扎的情况下，扩展到其他领域似乎具有挑战性。然而，如果赫兹能够做到这一点，股东可能会看到基于公司估值的巨大上行空间。由于公司没有报告利润，可以使用市销率 (P/S) 而不是更传统的市盈率 (P/E)。赫兹的股价在过去一年中飙升了 74%，市销率在过去一年中翻了一番，但仍然较低，为 0.2。根据 <strong>罗素 2000</strong> 指数，小型资本化股票的市销率约为 1 以上。</p>
</div><p>However, while the deal with Amazon may prove advantageous, it's only in the test phase. Hence, long-term investors may wish to hold off, at least until results from the test markets have come in. You'll know whether it's going well if Amazon and Hertz decide to expand the program.</p>
<div class="lb-trans"><p>然而，尽管与亚马逊的交易可能证明是有利的，但它仍处于测试阶段。因此，长期投资者可能希望暂时观望，至少在测试市场的结果出来之前。你将知道这是否进展顺利，如果亚马逊和赫兹决定扩大该计划。</p>
</div>

Hertz and Amazon Strike a Deal, and Hertz Investors Could Be Reaping the Rewards

- Hertz 与亚马逊达成协议，将在后者网站上销售二手车。  
- 投资者对该交易反应积极，Hertz 股价上涨 12.5%。  
- 目前该交易处于测试阶段，尚需观察长期效果。

赫兹与亚马逊达成协议，赫兹的投资者可能会因此获益