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Avis Budget Group

CAR Nasdaq Passenger Ground Transportation Financials FY2016–FY2025

Avis Budget Group's revenue fell 1.2% to $11.7 billion in fiscal 2025. Its net margin was −7.6%, up from −15.4% a year earlier. It paid out $7 million in dividends and buybacks. The diluted share count fell 0.8%.

Last close · Oct 23, 2026

$101.34

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$11.7B
1.2% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
−$889M
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$3.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
—

About these figures. Avis Budget's equity is negative, so its invested capital is small next to its US$31 billion of assets (mostly rental vehicles) and return on capital for 2025 isn't meaningful.

What Avis Budget Group does

No business description yet.

Legal name
AVIS BUDGET GROUP, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000723612-26-000012
0000723612

Revenue and margins

Avis Budget Group had $11.7B of revenue in fiscal 2025, down 1.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Avis Budget Group returned $7.0M to shareholders in fiscal 2025. The diluted share count fell 0.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Avis Budget Group yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$5.5B and divides by 35.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Avis Budget Group can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $534M$570M$555M$534M$519M
Debt incl. finance leases $4.0B$4.7B$4.8B$5.4B$6.0B
Net debt / EBITDA 1.6x1.0x1.8x——
Interest coverage 8.8x15.5x7.5x−6.3x−1.2x
Current ratio 0.8x0.7x0.8x0.8x0.7x
Quick ratio 0.8x0.7x0.8x0.8x0.7x
Total assets $22.6B$25.9B$32.6B$29.0B$31.3B
Total liabilities $22.8B$26.6B$32.9B$31.4B$34.4B
Shareholders' equity −$220M−$703M−$349M−$2.3B−$3.1B
Net debt (− = net cash) $3.5B$4.1B$4.2B$4.8B$5.5B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$40.1M

1 insider

Sold, 12 months

$1.8B

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 7, 2026 Ravi SimhambhatlaEVP, CDIO - see remarks Sold 4,702 $138.79 $0.7M Form 4
Apr 30, 2026 Edward P LinnenEVP, Chief HR Officer Sold 9,483 $182.32 $1.7M Form 4
Apr 30, 2026 Ravi SimhambhatlaEVP, CDIO - see remarks Sold 3,469 $184.09 $0.6M Form 4
Apr 23, 2026 Matthew Halbower10% owner Sold 1,848,899 $275.54 $509M Form 4
Apr 23, 2026 Pentwater Capital Management LP10% owner Sold 843,201 $264.60 $223M Form 4
Apr 22, 2026 Matthew Halbower10% owner Sold 3,347 $438.74 $1.5M Form 4
Apr 22, 2026 Pentwater Capital Management LP10% owner Sold 1,643,653 $619.35 $1.0B Form 4
Feb 20, 2026 Lynn KromingaDirector Sold 1,950 $91.54 $0.2M Form 4
Feb 20, 2026 Pentwater Capital Management LP10% owner Bought 425,000 $94.26 $40.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✕ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✕ ✓
F-score 6 / 83 / 85 / 8
Accruals ratio −7.5%−17.3%−13.9%
Altman Z'' 0.73−0.53−0.25

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Avis Budget Group CAR $3.6B −1.2% — — — — 5
Lyft LYFT $6.5B 9.2% −3.0% — −12.3% 2.5x 4 Compare →
Grab GRAB $11.7B 20.5% 1.9% −0.5% 0.9% — 5 Compare →
Uber UBER $136.7B 18.3% 10.7% 18.8% 19.7% 14.6x 6 Compare →
J.B. Hunt JBHT $21.4B −0.7% 7.2% 7.9% 13.1% 31.8x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $8.7B $8.8B $9.1B $9.2B $5.4B $9.3B $12.0B $12.0B $11.8B $11.7B
Interest expense $203M $188M $188M $178M $231M $218M $250M $296M $358M $422M
Pretax income $279M $211M $267M $287M −$956M $1.7B $3.6B $1.9B −$2.6B −$929M
Income tax $116M −$150M $102M −$15.0M −$272M $425M $880M $279M −$810M $66.0M
Net income $163M $361M $165M $302M −$684M $1.3B $2.8B $1.6B −$1.8B −$889M
Diluted EPS $1.75 $4.25 $2.06 $3.98 −$9.71 $19.44 $57.16 $42.08 −$51.23 −$25.25
Diluted shares 0.09B 0.08B 0.08B 0.08B 0.07B 0.07B 0.05B 0.04B 0.04B 0.04B
Cash flow
Cash from operations $2.6B $2.6B $2.6B $2.6B $691M $3.5B $4.7B $3.8B $3.5B $3.3B
Depreciation and amortization $253M $259M $256M $263M $283M $272M $225M $216M $237M $231M
Stock-based compensation $27.0M $13.0M $24.0M $22.0M $9.0M $30.0M $25.0M $30.0M $19.0M $19.0M
Acquisitions $55.0M $21.0M $91.0M $77.0M $69.0M $46.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $398M $210M $216M $67.0M $119M $1.5B $3.3B $951M $70.0M $7.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $355M $0.0M $0.0M
Dividends and buybacks $398M $210M $216M $67.0M $119M $1.5B $3.3B $1.3B $70.0M $7.0M
Balance sheet
Cash and short-term investments $490M $611M $615M $686M $692M $534M $570M $555M $534M $519M
Total debt $3.5B $3.6B $3.6B $3.4B $4.2B $4.0B $4.7B $4.8B $5.4B $6.0B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.8B $2.1B $2.2B $2.1B $1.8B $1.8B $1.9B $2.1B $2.0B $2.1B
Current liabilities $1.8B $1.6B $1.7B $2.2B $2.1B $2.4B $2.6B $2.7B $2.7B $2.9B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $685M $704M $736M $792M $657M $537M $594M $719M $697M $748M
Total assets $17.6B $17.7B $19.1B $23.1B $17.5B $22.6B $25.9B $32.6B $29.0B $31.3B
Total liabilities $17.4B $17.1B $18.7B $22.5B $17.7B $22.8B $26.6B $32.9B $31.4B $34.4B
Shareholders' equity $221M $573M $414M $656M −$155M −$220M −$703M −$349M −$2.3B −$3.1B
Margins
EBITDA margin 8.5% 7.4% 7.8% 7.9% −8.2% 23.6% 34.3% 20.2% −17.2% −2.4%
Net margin 1.9% 4.1% 1.8% 3.3% −12.7% 13.8% 23.0% 13.6% −15.5% −7.6%
Returns
Return on capital 8.4% 11.7% 8.1% 13.8% −16.9% 43.5% 88.1% 51.8% −55.9% —
Return on capital employed 3.0% 2.5% 2.7% 2.4% −4.0% 10.8% 17.9% 8.3% −8.1% −1.9%
Return on assets 0.9% 2.0% 0.9% 1.4% −3.4% 6.4% 11.4% 5.6% −5.9% −3.0%
Growth
Revenue growth — 2.2% 3.1% 0.5% −41.1% 72.4% 28.8% 0.1% −1.8% −1.2%
Net income growth −47.9% 121.5% −54.3% 83.0% −326.5% — 115.1% −41.0% −211.6% —
EPS growth −41.3% 142.9% −51.5% 93.2% −344.0% — 194.0% −26.4% −221.7% —
Share count change −11.1% −9.1% −5.5% −5.5% −6.9% −6.2% −26.8% −19.8% −8.5% −0.9%
Financial health
Net debt / EBITDA 4.1x 4.5x 4.1x 3.8x — 1.6x 1.0x 1.8x — —
Interest coverage 2.4x 2.1x 2.4x 2.6x −3.1x 8.8x 15.5x 7.5x −6.3x −1.2x
Current ratio 1.0x 1.3x 1.3x 1.0x 0.9x 0.8x 0.7x 0.8x 0.8x 0.7x
Quick ratio 1.0x 1.3x 1.3x 1.0x 0.9x 0.8x 0.7x 0.8x 0.8x 0.7x
Capital allocation
Stock comp / revenue 0.3% 0.2% 0.3% 0.2% 0.2% 0.3% 0.2% 0.3% 0.2% 0.2%
Quality scores
Piotroski F-score — 7.0 7.0 6.0 3.0 7.0 6.0 6.0 3.0 5.0
Altman Z'' −0.1 0.1 0.2 0.0 −0.7 0.4 1.1 0.7 −0.5 −0.3
Accruals ratio −14.0% −12.9% −13.3% −10.8% −6.8% −11.0% −8.0% −7.5% −17.3% −13.9%

Source: SEC EDGAR XBRL filings (CIK 0000723612). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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