Avis Budget Group Inc (CAR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	-$7.05	-$6.85	+2.8%	—	—	—
Q3 26	-$0.38	-$4.69	-1134.2%	—	—	—
Q2 26	$8.14	$8.38	+2.9%	—	—	—
Q1 26	$1.77	$0.98	-44.6%	—	—	—
Q4 25	-$5.86	-$5.23	+10.8%	—	—	—
Q3 25	-$0.79	-$55.7	-6945.6%	—	—	—
Q2 25	$8.46	$6.65	-21.4%	—	—	—
Q1 25	$2.61	$1.03	-60.5%	—	—	—
Q4 24	-$2.88	-$3.21	-11.5%	—	—	—
Q3 24	$4.12	$7.34	+78.2%	—	—	—
Q2 24	$14.2	$16.8	+18.5%	—	—	—
Q1 24	$9.45	$11	+16.5%	—	—	—
Q4 23	$3.07	$7.72	+151.5%	—	—	—
Q3 23	$6.79	$10.5	+54.1%	—	—	—
Q2 23	$14.6	$21.7	+48.2%	—	—	—
Q1 23	$11.5	$15.9	+38.9%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$25.3	—	—	$11.4B	—
FY24	—	-$51.2	—	—	$11.6B	—
FY23	—	$42.6	—	—	$12.7B	—
FY22	—	$58.4	—	—	$13B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$8.7B	$8.8B	$9.2B	$9.3B	$5.6B	$9.7B	$13B	$12.7B	$11.6B	$11.4B
YoY change	+1.25%	+1.46%	+4.27%	+0.89%	-39.9%	+74%	+34.5%	-2.68%	-8.23%	-1.79%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	8.7B	8.8B	9.2B	9.3B	5.6B	9.7B	13B	12.7B	11.6B	11.4B
Cost of revenue	2.3B	2.5B	2.5B	2.5B	1.8B	1.9B	2.2B	3.1B	3.8B	3.7B
Gross profit	6.3B	6.3B	6.6B	6.8B	3.7B	7.8B	10.8B	9.5B	7.9B	7.7B
Gross margin	73%	72.1%	72.3%	73.1%	66.8%	80.7%	82.7%	75.3%	67.7%	67.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.1B	1.1B	1.2B	1.2B	703M	1.1B	1.3B	1.4B	1.4B	1.4B
Operating expenses	5.5B	5.6B	5.9B	5.9B	4B	5.4B	6.6B	7.1B	7.4B	7.3B
Operating income	585M	476M	516M	567M	-595M	2.1B	3.9B	2.2B	269M	184M
Operating margin	6.75%	5.41%	5.63%	6.13%	-10.7%	22%	30%	17.6%	2.31%	1.61%
Non-operating income, net	-103M	-77M	-61M	-102M	-130M	-205M	-20M	-24M	-2.5B	-691M
Pretax income	279M	211M	267M	287M	-956M	1.7B	3.6B	1.9B	-2.6B	-929M
Income tax	116M	-150M	102M	-15M	-272M	425M	880M	279M	-810M	66M
Net income	163M	361M	165M	302M	-684M	1.3B	2.8B	1.6B	-1.8B	-995M
Net margin	1.88%	4.1%	1.8%	3.26%	-12.3%	13.3%	21.2%	12.9%	-15.6%	-8.72%
EBITDA	2.7B	2.7B	2.7B	3.7B	2B	4.6B	6.7B	5.7B	4.3B	4.1B
EPS	1.78	4.32	2.08	4.01	-9.71	19.8	58.4	42.6	-51.2	-25.3
Diluted EPS	1.75	4.25	2.06	3.98	-9.71	19.4	57.2	42.1	-51.2	-25.3

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.7B	2.8B	2.5B	3B	3.4B	2.7B	2.1B	3.1B	3.5B	2.7B	2.5B	3.1B
Cost of revenue	870M	861M	836M	938M	1B	971M	931M	919M	957M	888M	903M	883M
Gross profit	2.8B	2B	1.7B	2.1B	2.4B	1.7B	1.2B	2.2B	2.6B	1.8B	1.6B	2.2B
Gross margin	76.5%	69.5%	66.7%	68.8%	70.8%	63.5%	55.6%	70.3%	73%	66.8%	64.4%	71.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	397M	309M	325M	348M	367M	312M	308M	396M	422M	321M	341M	385M
Operating expenses	1.9B	1.7B	1.7B	1.9B	1.9B	1.9B	1.7B	1.9B	1.9B	1.8B	1.8B	1.9B
Operating income	844M	247M	-54M	133M	433M	-243M	-552M	192M	600M	-56M	-184M	212M
Operating margin	22.8%	8.76%	-2.15%	4.42%	12.6%	-9.13%	-26.3%	6.21%	16.9%	-2.09%	-7.24%	6.91%
Non-operating income, net	-7M	-10M	-5M	-18M	-9M	-2.5B	-28M	-67M	-18M	-578M	-47M	-31M
Pretax income	757M	162M	-142M	27M	329M	-2.8B	-677M	15M	473M	-740M	-340M	73M
Income tax	130M	-98M	-29M	12M	91M	-884M	-173M	10M	113M	116M	-106M	10M
Net income	627M	260M	-114M	15M	238M	-2B	-504M	5M	360M	-856M	-234M	63M
Net margin	16.9%	9.22%	-4.54%	0.5%	6.92%	-73.5%	-24%	0.16%	10.1%	-32%	-9.21%	2.05%
EBITDA	1.8B	1.1B	870M	1.1B	1.5B	815M	453M	1.2B	1.6B	899M	827M	1.2B
EPS	17	7.18	-3.21	0.41	6.67	-55.7	-14.3	0.1	10.2	-21.3	-8.01	1
Diluted EPS	16.8	7.1	-3.21	0.41	6.65	-55.7	-14.3	0.1	10.1	-21.3	-8.01	0.98

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	3.7B	1.8B	2.4B	2.6B	13.5B	—	—	2.9B	4.5B	3.7B
Enterprise value	—	15.9B	15B	18.9B	15.6B	30.7B	—	—	28.4B	32.6B	32.6B
Shares outstanding	92M	83.4M	79.3M	75.2M	70.5M	64.9M	47.3M	38.3M	35.5M	35.2M	35.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	10.1	10.8	8.03	—	10.5	—	—	—	—	8
P/S	—	0.42	0.19	0.26	0.47	1.39	—	—	0.25	0.4	0.32
P/B	—	6.39	4.31	3.7	-17	-64.4	—	—	-1.24	-1.48	-1.15
EV/EBITDA	—	5.92	5.44	5.09	7.93	6.66	—	—	6.65	7.87	21.2
EV/Sales	—	1.8	1.63	2.04	2.81	3.18	—	—	2.44	2.85	2.78
Earnings yield	—	9.86%	9.26%	12.5%	—	9.53%	—	—	—	—	12.5%
FCF yield	—	-248.3%	-572.8%	-435.2%	-182.7%	-49.6%	—	—	-228.7%	-265.2%	29.5%
PEG	—	—	—	—	—	—	—	—	—	—	0.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	73%	72.1%	72.3%	73.1%	66.8%	80.7%	82.7%	75.3%	67.7%	67.6%	71.2%
Operating margin	6.75%	5.41%	5.63%	6.13%	-10.7%	22%	30%	17.6%	2.31%	1.61%	14.9%
Net margin	1.88%	4.1%	1.8%	3.26%	-12.3%	13.3%	21.2%	12.9%	-15.6%	-8.72%	-5.43%
ROE	73.8%	63%	39.9%	46%	441.3%	-613.9%	-393.7%	-476.7%	78.4%	32.7%	29.2%
ROA	0.92%	2.04%	0.86%	1.31%	-3.9%	5.68%	10.6%	5.02%	-6.26%	-3.18%	2.7%
ROIC	2.82%	3.72%	2.35%	3.32%	-4.64%	9.38%	15.1%	7.47%	1.16%	0.74%	2.26%
Return on tangible assets	1.17%	2.61%	1.08%	1.56%	-4.99%	6.78%	12.3%	5.63%	-7.07%	-3.58%	-2.31%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.03	1.26	1.27	0.96	0.87	0.77	0.73	0.8	0.75	0.72	0.85
Quick ratio	1.03	1.26	1.27	0.96	0.87	0.77	0.73	0.8	0.75	0.72	0.81
Debt / equity	56.1	22.4	33.3	26.1	-88.1	-85.2	-29.9	-77.1	-11.2	-9.39	-0.09
Debt / assets	0.7	0.72	0.72	0.74	0.78	0.79	0.81	0.81	0.9	0.91	0.9
Net debt / EBITDA	4.39	4.55	4.8	4.43	6.6	3.75	3.03	4.56	5.97	6.78	6.35
Interest coverage	2.37	2.12	2.42	2.61	-3.14	8.83	15.5	7.47	-6.34	-1.2	-0.24
Effective tax rate	41.6%	0%	38.2%	0%	0%	24.9%	24.2%	14.6%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	94.2	105.5	115.7	123.1	78.9	149.1	275.1	330.7	327.4	324.3	330.4
EPS (basic)	1.78	4.32	2.08	4.01	-9.71	19.8	58.4	42.6	-51.2	-25.3	-25.3
EPS (diluted)	1.75	4.25	2.06	3.98	-9.71	19.4	57.2	42.1	-51.2	-25.3	-18
Book value per share	2.4	6.87	5.22	8.72	-2.2	-3.22	-14.8	-8.96	-65.3	-86.4	-96
FCF per share	-108.8	-109	-128.8	-140.3	-68.1	-102.8	-127.5	-303.7	-184.3	-340.3	-319.3
Cash per share	5.33	7.33	7.76	9.12	9.82	8.23	12.1	14.5	15	14.7	15.8
Capex per share	23.3	25.6	40	35.6	46.2	93.8	87.3	184.2	75.2	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	24.8%	24.3%	34.6%	28.9%	58.6%	62.9%	31.7%	55.7%	23%	—	—
Capex / operating cash flow	81.9%	82.3%	120.2%	159.8%	-3.4K%	208.7%	85.2%	157.5%	733%	—	—
Payout ratio	—	—	—	—	—	0%	0%	21.7%	0%	0%	0%
Dividend yield	—	—	—	—	—	0%	—	—	0%	0%	0%

Yield

—

trailing twelve months

Frequency

Quarterly

Last dividend

$10.00

ex-dividend Dec 14, 2023

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Dec 14, 2023	$10.00
Feb 23, 2006	$0.2816
Nov 17, 2005	$0.2816
Aug 18, 2005	$0.2816
May 19, 2005	$0.2304
Feb 24, 2005	$0.2304
Feb 1, 2005	$2.752
Nov 18, 2004	$0.2304

Split history

Date	Ratio
Sep 5, 2006	1:10
Aug 1, 2006

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.7B	$2.8B	$2.5B	$3B	$3.4B	$2.7B	$2.1B	$3.1B	$3.5B	$2.7B	$2.5B	$3.1B
YoY change	-5.04%	-3.89%	-10.5%	-9.59%	-7.31%	-5.57%	-16.6%	+2.79%	+3.26%	+0.45%	+21.2%	-0.87%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	490M	611M	615M	686M	692M	534M	570M	555M	534M	519M
Receivables	808M	922M	955M	911M	647M	775M	810M	900M	838M	878M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	1.8B	2.1B	2.2B	2.1B	1.8B	1.8B	1.9B	2.1B	2B	2.1B
Property, plant & equipment	9.6B	10.1B	11B	14.7B	10.5B	15.1B	18.1B	23.3B	20.2B	21.6B
Goodwill & intangibles	3.8B	3.8B	3.8B	3.8B	3.8B	3.7B	3.5B	3.5B	3.3B	3.4B
Total assets	17.6B	17.7B	19.1B	23.1B	17.5B	22.6B	25.9B	32.6B	29B	31.3B
Accounts payable	343M	359M	371M	378M	394M	407M	466M	487M	450M	453M
Short-term debt	279M	26M	23M	498M	533M	515M	582M	608M	648M	704M
Total current liabilities	1.8B	1.6B	1.7B	2.2B	2.1B	2.4B	2.6B	2.7B	2.7B	2.9B
Long-term debt	12.1B	12.8B	13.8B	16.6B	13.1B	17.3B	20.3B	25.8B	25.4B	27.9B
Total liabilities	17.4B	17.1B	18.7B	22.5B	17.7B	22.8B	26.6B	32.9B	31.4B	34.3B
Shareholders' equity	221M	573M	414M	656M	-155M	-209M	-700M	-343M	-2.3B	-3B
Total debt	12.4B	12.8B	13.8B	17.1B	13.7B	17.8B	20.9B	26.5B	26B	28.6B
Net debt	11.9B	12.2B	13.2B	16.4B	13B	17.3B	20.3B	25.9B	25.5B	28B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	572M	555M	522M	511M	602M	534M	516M	541M	564M	519M	528M	558M
Receivables	918M	900M	1B	1.1B	917M	838M	873M	971M	859M	878M	832M	936M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	2.2B	2.1B	2.3B	2.5B	2.3B	2B	2.1B	2.5B	2.2B	2.1B	2.2B	2.5B
Property, plant & equipment	24B	23.3B	25B	25.5B	24.3B	20.2B	21.2B	24.3B	23.1B	21.6B	21.7B	23.3B
Goodwill & intangibles	3.5B	3.5B	3.5B	3.5B	3.5B	3.3B	3.4B	3.5B	3.4B	3.4B	3.5B	3.5B
Total assets	32.3B	32.6B	33.5B	33.9B	32.7B	29B	29B	32.4B	32.5B	31.3B	30.6B	32.3B
Accounts payable	514M	487M	504M	555M	516M	450M	499M	597M	597M	453M	488M	573M
Short-term debt	551M	608M	963M	595M	1.1B	648M	1.1B	660M	694M	704M	666M	644M
Total current liabilities	2.8B	2.7B	3.1B	2.9B	3.3B	2.7B	3.4B	3.2B	3.2B	2.9B	2.9B	3.1B
Long-term debt	25.6B	25.8B	26.5B	27B	25.7B	25.4B	25.3B	28.6B	27.9B	27.9B	27B	28.5B
Total liabilities	32.3B	32.9B	34B	34.4B	33B	31.4B	31.9B	35.1B	34.9B	34.3B	33.9B	35.6B
Shareholders' equity	-28M	-343M	-508M	-482M	-229M	-2.3B	-2.8B	-2.7B	-2.4B	-3B	-3.3B	-3.2B
Total debt	26.1B	26.5B	27.4B	27.6B	26.8B	26B	26.4B	29.2B	28.6B	28.6B	27.7B	29.1B
Net debt	25.5B	25.9B	26.9B	27.1B	26.2B	25.5B	25.9B	28.7B	28B	28B	27.1B	28.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	163M	361M	165M	302M	-684M	1.3B	2.8B	1.6B	-1.8B	-995M
Depreciation & amortization	2.1B	2.2B	2.2B	3.1B	2.6B	2.5B	2.8B	3.5B	4B	4B
Stock-based compensation	27M	13M	24M	22M	9M	30M	25M	30M	19M	19M
Change in working capital	-58M	-26M	39M	-892M	-1B	-558M	-753M	-196M	-938M	-943M
Operating cash flow	2.6B	2.6B	2.6B	1.7B	-97M	2.9B	4.8B	4.5B	364M	3.3B
Capital expenditure	-2.1B	-2.1B	-3.2B	-2.7B	3.3B	-6.1B	-4.1B	-7.1B	-2.7B	—
Investing cash flow	-2.2B	-2.2B	-3.4B	-2.8B	3.2B	-6.3B	-4.3B	-7.3B	-2.8B	-296M
Dividends paid	—	—	—	—	—	0	0	-355M	0	0
Share repurchases	-398M	-210M	-216M	-67M	-119M	-1.5B	-3.3B	-951M	-70M	-7M
Financing cash flow	-449M	-308M	667M	318M	-4B	2.7B	-360M	3.5B	-781M	1.9B
Net change in cash	-8M	81M	-121M	-759M	-965M	-704M	188M	639M	-3.2B	4.9B
Free cash flow	-10B	-9.1B	-10.2B	-10.6B	-4.8B	-6.7B	-6B	-11.6B	-6.5B	-12B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	627M	260M	-113M	15M	238M	-2B	-504M	5M	360M	-856M	-234M	63M
Depreciation & amortization	990M	832M	925M	944M	1.1B	1.1B	1B	988M	1B	960M	1B	957M
Stock-based compensation	8M	6M	7M	6M	1M	5M	6M	6M	4M	3M	1M	6M
Change in working capital	-332M	-310M	-295M	-318M	-210M	-194M	-311M	-265M	-76M	-260M	-387M	-407M
Operating cash flow	1.4B	-86M	550M	810M	1.4B	-1.4B	184M	814M	1.4B	437M	434M	632M
Capital expenditure	-1.7B	-372M	-1.5B	-1B	-69M	-33M	-729M	-3.1B	—	—	—	—
Investing cash flow	-1.7B	-416M	-1.5B	-1B	-141M	-57M	-715M	-3.2B	-36M	-158M	166M	-58M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-490M	-261M	-15M	-1M	-9M	-45M	-3M	0	-1M	-3M	-7M	0
Financing cash flow	512M	-117M	897M	139M	-1.1B	-738M	98M	2.4B	-664M	51M	-822M	1.4B
Net change in cash	193M	-619M	-71M	-87M	219M	-2.2B	-433M	-54M	703M	330M	-222M	2B
Free cash flow	-2.5B	-1.9B	-3.5B	-2B	-22M	-1B	-3.2B	-4.2B	-1.5B	-3.1B	-3.1B	-3.7B

Avis Budget Group Inc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement