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Avis Budget Group, Inc.

CAR NASDAQ Categories PDF
Industrials · Rental & Leasing Services
Parsippany, NJ 07054, United States IPO 1983 avisbudgetgroup.com Updated Jun 26, 9:03pm
Price
$166.49
Market Cap
$5.9B
Employees
17,000
Beta
1.87
Avg Volume
2,762,290
CEO
Brian J. Choi
Business Description

Avis Budget Group, Inc. is a prominent global provider of diverse mobility solutions, delivering vehicle rental services for both cars and trucks, alongside car-sharing options, to a broad clientele encompassing businesses and individual consumers. The company's brand portfolio includes Avis, which focuses on providing premium vehicle rentals and comprehensive mobility solutions to both commercial and leisure segments of the travel industry. For truck and cargo van rentals, the Budget Truck brand operates a fleet of approximately 20,000 vehicles. These are available for local and one-way hire through a vast network of roughly 465 dealer-operated and 385 company-owned locations across the continental United States, catering to both residential and light commercial needs. Furthermore, the company manages Zipcar, a well-known car-sharing network, and an array of other car rental brands such as Budget, Payless, Apex, Maggiore, MoriniRent, FranceCars, Amicoblue, Turiscar, and ACL Hire. Beyond its core vehicle offerings, Avis Budget Group supplies an extensive range of supplementary products and services. These include various optional insurance covers, such as supplemental liability, personal accident, personal effects protection, emergency sickness, and insurance for automobile towing and cargo. Customers can also access fuel service plans, roadside assistance, electronic toll collection, curbside delivery, and rentals for items like tablets, satellite radio access, portable navigation units, and child safety seats. For moving purposes, the company provides automobile towing equipment and essential accessories such as hand trucks, furniture pads, and moving supplies. Additionally, corporate clients benefit from a Business Intelligence solution, an online platform designed for managing their corporate travel needs. With a significant international presence, Avis Budget Group, Inc. operates at approximately 10,400 locations across the globe. Founded in 1946 and headquartered in Parsippany, New Jersey, the company was formerly named Cendant Corporation before adopting its current name in September 2006.

Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Jun 21, 2026 6:58pm (5d ago)
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-6.59
Stock Price: $166.49
EPS (Diluted): -25.26
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
-1.44
Stock Price: $166.49
Total Equity: -$3.13B
Shares: 35,200,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
7.92
Market Cap: $5.88B
Total Debt: $9.37B
Cash: $519.00M
EBITDA: $4.44B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$35.2B
Market Cap: $5.88B
Total Debt: $9.37B
Cash: $519.00M
P/S Ratio (Price per dollar of revenue)
API
Stock Price / Revenue Per Share
0.39
Stock Price: $166.49
Revenue: $11.65B
Shares: 35,200,000
EV/Sales (Total value vs revenue — works when P/E can't)
API
3.02
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
24.4%
Gross Profit: $2.85B
Revenue: $11.65B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
11.0%
Operating Income: $1.28B
Revenue: $11.65B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-7.6%
Net Income: -$889.00M
Revenue: $11.65B
ROE (Profit from shareholder equity)
CALC
Net Income / Total Equity
28.4%
Net Income: -$889.00M
Total Equity: -$3.13B
ROIC (Profit from all invested capital)
CALC
NOPAT / Invested Capital
24.0%
Operating Income: $1.28B
Tax Rate: -7.1%
Equity: -$3.13B
Total Debt: $9.37B
Cash: $519.00M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
0.72
Current Assets: $2.09B
Current Liabilities: $2.89B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
-2.99
Short-Term Debt: $704.00M
Long-Term Debt: $8.66B
Total Debt: $9.37B
Total Equity: -$3.13B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$331.02
Revenue: $11.65B
Shares: 35,200,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$-88.89
Total Equity: -$3.13B
Shares: 35,200,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$-340.28
Operating CF: $3.30B
CapEx: -$15.27B
Shares: 35,200,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $166.49
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$889.00M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CAR against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:58pm (5d ago)
Metric 2021 2022 2023 2024 2025
Revenue $9.3B $12.0B $12.0B $11.8B $11.7B
Cost of Revenue $5.9B $7.2B $8.1B $8.8B $8.8B
Gross Profit $3.4B $4.8B $3.9B $3.0B $2.8B
Operating Expenses $1.3B $1.5B $1.6B $1.5B $1.6B
Operating Income $2.1B $3.3B $2.4B $1.5B $1.3B
Net Income $1.3B $2.8B $1.6B -$1.8B -$889.0M
EBITDA $4.7B $7.1B $6.4B $2.7B $4.4B
EPS $19.80 $58.44 $42.61 $-51.23 $-25.26
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:58pm (5d ago)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $537.0M $572.0M $559.0M $537.0M $519.0M
Total Current Assets $1.8B $1.9B $2.1B $2.0B $2.1B
Total Assets $22.6B $25.9B $33.4B $30.0B $32.2B
Current Liabilities $2.4B $2.6B $2.7B $2.7B $2.9B
Long-Term Debt $15.2B $18.3B $4.8B $5.4B $8.7B
Total Liabilities $22.8B $26.6B $33.8B $32.3B $35.2B
Total Equity -$220.0M -$703.0M -$349.0M -$2.3B -$3.1B
Retained Earnings -$185.0M $2.6B $3.9B $2.0B $1.1B
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:58pm (5d ago)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $3.5B $4.7B $3.8B $3.5B $3.3B
Capital Expenditure -$6.1B -$4.1B -$15.5B -$10.1B -$15.3B
Free Cash Flow -$2.6B $576.0M -$11.6B -$6.5B -$12.0B
Acquisitions (net) $4.1B -$6.6B $8.3B $0 $10.6B
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks -$1.5B -$3.3B -$951.0M -$70.0M -$7.0M
Net Change in Cash -$139.0M $16.0M $2.0M -$47.0M $81.0M
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 9:03pm (13h ago)
Metric 2025 2026 2027 2028
Revenue $11.7B
$11.7B – $11.8B
 $11.9B
$11.9B – $12.0B
 $12.2B
$12.1B – $12.2B
 $12.5B
$12.5B – $12.5B
EBITDA $5.3B
$5.2B – $5.3B
 $5.4B
$5.3B – $5.4B
 $5.5B
$5.4B – $5.5B
 $5.6B
$5.6B – $5.6B
Net Income $233.3M
$221.3M – $245.4M
 $120.6M
$81.1M – $291.0M
 $296.7M
$186.1M – $446.5M
 $417.6M
$411.9M – $423.4M
EPS — — — —
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:58pm (5d ago)
Metric 2022 2023 2024 2025
Revenue Growth +28.8% +0.1% -1.8% -1.2%
Gross Profit Growth +40.7% -17.7% -23.7% -5.1%
Operating Income Growth +57.2% -28.4% -36.3% -14.5%
Net Income Growth +115.1% -41.0% -211.6% +51.2%
EBITDA Growth +50.9% -10.0% -58.4% +66.1%
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:58pm (5d ago)
Date Dividend Declaration Record Payment
2023-12-14 $10.00 2023-12-05 2023-12-15 2023-12-21
2006-02-23 $0.11 2006-02-09 2006-02-27 2006-03-14
2005-11-17 $0.11 2005-10-19 2005-11-21 2005-12-13
2005-08-18 $0.11 2005-07-19 2005-08-22 2005-09-13
2005-05-19 $0.09 2005-04-26 2005-05-23 2005-06-14
2005-02-24 $0.09 2005-01-24 2005-02-28 2005-03-15
2005-02-01 $1.08
2004-11-18 $0.09 2004-10-19 2004-11-22 2004-12-14
2004-08-12 $0.09 2004-07-20 2004-08-16 2004-09-14
2004-05-20 $0.07 2004-04-20 2004-05-24 2004-06-15
2004-02-19 $0.07 2004-02-11 2004-02-23 2004-03-16
1989-06-07 $5.00 1989-05-31 1989-06-05 1989-06-06
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for CAR — it's generated by the pipeline (market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30