<p><strong>赫茲全球</strong>(HTZ -1.92%) 與 <strong>亞馬遜</strong>(AMZN -1.55%) 最近宣佈達成一項協議，前者將在後者的網站上銷售二手車。投資者顯然相信這項交易將有助於赫茲的業務。他們將股價從 8 月 19 日的 5.20 美元推高至 8 月 27 日的 5.85 美元，漲幅達 12.5%。</p>
<p>是什麼讓投資者如此興奮？更重要的是，這項交易是否為赫茲創造了長期價值的機會？是時候更深入地瞭解這項交易及赫茲的基本面了。</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>圖片來源：Getty Images。</p>
<h2>交易細節</h2>
<p>赫茲將在亞馬遜汽車網站上列出其二手車進行銷售。然而，這目前只是一個測試，正在達拉斯、休斯頓、洛杉磯和西雅圖的都市地區推出。購車者可以在網站上瀏覽可購買的二手車。一旦找到合適的車輛並完成購買，新車主可以在多個赫茲地點提車。</p>
<p>亞馬遜汽車的好處顯而易見，該平台在不到一年的時間內推出。該網站之前為購車者提供的選擇有限。在這種安排下，亞馬遜將大大增加多個品牌的上市數量。</p>
<h2>赫茲如何受益？</h2>
<p>如果購車者願意在線購買二手車，他們將獲得更簡單、更便捷的流程，並有廣泛的汽車選擇。這可能會擴大赫茲的汽車銷售。</p>
<p>目前，赫茲通過公司運營的美國零售地點銷售其租賃車隊的汽車。這也產生了其他收入，例如銷售保修和提供融資。然而，目前尚不清楚赫茲銷售了多少二手車。公司提到它銷售數千輛，但這使得很難確定對赫茲現金流的影響。</p>
<p>儘管如此，如果與亞馬遜的安排證明是互利的，赫茲將能夠擴大二手車業務並多樣化其收入來源。這也是執行首席執行官吉爾·韋斯特擴展零售業務和提高赫茲二手車品牌知名度計劃的一步。</p>
<h2>你應該購買赫茲的股票嗎？</h2>
<p>赫茲運營兩個部門：美洲租車和國際租車。每個部門都租賃車輛並銷售保險和衞星廣播等服務。目前，赫茲的核心租賃業務面臨困境，銷售額下降，盈利能力下降。公司的第二季度總收入下降了 7%，降至 22 億美元，調整某些項目後虧損 1.04 億美元。</p>
<p>在核心租賃業務掙扎的情況下，擴展到其他領域似乎具有挑戰性。然而，如果赫茲能夠做到這一點，股東可能會看到基於公司估值的巨大上行空間。由於公司沒有報告利潤，可以使用市銷率 (P/S) 而不是更傳統的市盈率 (P/E)。赫茲的股價在過去一年中飆升了 74%，市銷率在過去一年中翻了一番，但仍然較低，為 0.2。根據 <strong>羅素 2000</strong> 指數，小型資本化股票的市銷率約為 1 以上。</p>
<p>然而，儘管與亞馬遜的交易可能證明是有利的，但它仍處於測試階段。因此，長期投資者可能希望暫時觀望，至少在測試市場的結果出來之前。你將知道這是否進展順利，如果亞馬遜和赫茲決定擴大該計劃。</p>

<p>赫茲全球與亞馬遜宣佈達成協議，赫茲將在亞馬遜網站上銷售二手車，這導致赫茲的股價上漲了 12.5%。該協議目前在部分大城市地區處於測試階段，旨在擴大赫茲的汽車銷售並多樣化收入來源。儘管赫茲的核心租賃業務面臨挑戰，但如果合作成功，可能會帶來長期價值。投資者被建議在對赫茲股票做出決策之前，等待測試市場的結果</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>赫茲全球</strong>(HTZ -1.92%) 與 <strong>亞馬遜</strong>(AMZN -1.55%) 最近宣佈達成一項協議，前者將在後者的網站上銷售二手車。投資者顯然相信這項交易將有助於赫茲的業務。他們將股價從 8 月 19 日的 5.20 美元推高至 8 月 27 日的 5.85 美元，漲幅達 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>是什麼讓投資者如此興奮？更重要的是，這項交易是否為赫茲創造了長期價值的機會？是時候更深入地瞭解這項交易及赫茲的基本面了。</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>圖片來源：Getty Images。</p>
</div><h2>Deal details</h2>
<div class="lb-trans"><h2>交易細節</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>赫茲將在亞馬遜汽車網站上列出其二手車進行銷售。然而，這目前只是一個測試，正在達拉斯、休斯頓、洛杉磯和西雅圖的都市地區推出。購車者可以在網站上瀏覽可購買的二手車。一旦找到合適的車輛並完成購買，新車主可以在多個赫茲地點提車。</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>亞馬遜汽車的好處顯而易見，該平台在不到一年的時間內推出。該網站之前為購車者提供的選擇有限。在這種安排下，亞馬遜將大大增加多個品牌的上市數量。</p>
</div><h2>How does Hertz benefit?</h2>
<div class="lb-trans"><h2>赫茲如何受益？</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>如果購車者願意在線購買二手車，他們將獲得更簡單、更便捷的流程，並有廣泛的汽車選擇。這可能會擴大赫茲的汽車銷售。</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，赫茲通過公司運營的美國零售地點銷售其租賃車隊的汽車。這也產生了其他收入，例如銷售保修和提供融資。然而，目前尚不清楚赫茲銷售了多少二手車。公司提到它銷售數千輛，但這使得很難確定對赫茲現金流的影響。</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>儘管如此，如果與亞馬遜的安排證明是互利的，赫茲將能夠擴大二手車業務並多樣化其收入來源。這也是執行首席執行官吉爾·韋斯特擴展零售業務和提高赫茲二手車品牌知名度計劃的一步。</p>
</div><h2>Should you buy Hertz's stock?</h2>
<div class="lb-trans"><h2>你應該購買赫茲的股票嗎？</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>赫茲運營兩個部門：美洲租車和國際租車。每個部門都租賃車輛並銷售保險和衞星廣播等服務。目前，赫茲的核心租賃業務面臨困境，銷售額下降，盈利能力下降。公司的第二季度總收入下降了 7%，降至 22 億美元，調整某些項目後虧損 1.04 億美元。</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>在核心租賃業務掙扎的情況下，擴展到其他領域似乎具有挑戰性。然而，如果赫茲能夠做到這一點，股東可能會看到基於公司估值的巨大上行空間。由於公司沒有報告利潤，可以使用市銷率 (P/S) 而不是更傳統的市盈率 (P/E)。赫茲的股價在過去一年中飆升了 74%，市銷率在過去一年中翻了一番，但仍然較低，為 0.2。根據 <strong>羅素 2000</strong> 指數，小型資本化股票的市銷率約為 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，儘管與亞馬遜的交易可能證明是有利的，但它仍處於測試階段。因此，長期投資者可能希望暫時觀望，至少在測試市場的結果出來之前。你將知道這是否進展順利，如果亞馬遜和赫茲決定擴大該計劃。</p>
</div>

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

- Hertz 與亞馬遜達成協議，將在後者網站上銷售二手車。  
- 投資者對該交易反應積極，Hertz 股價上漲 12.5%。  
- 目前該交易處於測試階段，尚需觀察長期效果。

赫茲與亞馬遜達成協議，赫茲的投資者可能會因此獲益