Avis Budget Group Inc CAR

IndustrialsPassenger Transportation ServicesUnited States of America

Last close 107.99 USD on Nov 1, 2026, −15.8% year to date

Quant rating

Quant rating C Rank 326 of 486 in Industrials

Growth B 87 of 486
Valuation D 359 of 486
Quality D 394 of 486
Revisions A 14 of 486
Momentum D 421 of 486

Wall Street consensus Hold (3.11)Average target 119.40 USD +10.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.8B
Enterprise value: 29.3B
52-week range: 86.24 – 843.24
3-year range: 55.49 – 843.24
Dividend yield: –
Beta (5 years): 1.95
Shares outstanding: 35.3M
Next earnings: Nov 3, 2026

About the company

Avis Budget Group, Inc. is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, as well as several other brands. Its brands offer a range of options, from car and truck rental to car sharing. Its segments include Americas and International. The Americas segment consists primarily of vehicle rental operations in North America, South America, Central America and the Caribbean and operates car-sharing operations in certain of these markets. The International segment consists of vehicle rental operations in Europe, the Middle East, Africa, Asia and Australasia, and operates car-sharing operations in certain of these markets. The Avis brand provides vehicle rental and other mobility solutions at price points generally above non-branded and value-branded vehicle rental companies and serves the premium commercial and leisure segments of the travel industry. Its other brands include Payless, Apex, AmicoBlu, Maggiore, Morini Rent, FranceCars, and others.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	11,652	11,789	12,008	11,994	9,313	–
Revenue growth	−1.2%	−1.8%	0.1%	28.8%	72.4%	16.6%
EPS (basic, normalized)	−0.88	18.28	42.08	58.05	22.49	–
EPS growth	–	−56.6%	−27.5%	158.1%	–	–
Gross margin	60.3%	60.4%	63.2%	55.9%	54.3%	58.8%
Net margin	−7.6%	−15.4%	13.6%	23.0%	13.8%	5.5%
ROE	–	–	–	–	–	–

Balance sheet, last quarter
Cash & short-term investments (mil)	558
Current ratio	0.81x
Long-term debt (mil)	25,849
Net debt (mil)	25,475
Total equity (mil)	−3,388
Net debt / equity	−7.52x
Net debt / EBITDA	34.06x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	11,652	−1.2%	2.5x	748	−9.4%	39.2x	−0.88	−104.8%	−122.7x
2026	11,644	−0.1%	2.5x	844	+12.8%	34.7x	1.13	+228.7%	95.4x
2027	11,823	+1.5%	2.5x	938	+11.2%	31.2x	6.29	+455.2%	17.2x
2028	12,130	+2.6%	2.4x	1,045	+11.4%	28.0x	9.01	+43.2%	12.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	11,644	−0.2%	−0.7%	−2.1%	1.13	+27.8%	−6.0%	−73.0%
2027	11,823	−0.3%	−0.7%	−2.4%	6.29	+5.0%	+4.8%	−23.1%
2028	12,130	−0.2%	−0.9%	−2.9%	9.01	+7.3%	+9.9%	−17.3%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	2,551	3,048	3,480	2,710	2,430	3,039	3,519	2,664	2,530	2,998
Sales mean (mil)	2,413	3,138	3,534	2,712	2,482	3,007	3,458	2,738	2,428	3,101
Surprise	+5.7%	−2.9%	−1.5%	−0.1%	−2.1%	+1.1%	+1.8%	−2.7%	+4.2%	−3.3%
EPS reported	−3.21	0.41	6.65	14.55	−3.27	0.10	10.11	−3.23	−7.85	0.98
EPS mean	−2.70	2.59	8.18	−0.66	−5.79	1.85	7.96	−0.42	−6.84	1.80
Surprise	−18.7%	−84.1%	−18.7%	−2,299.0%	+43.5%	−94.6%	+27.0%	−673.7%	−14.8%	−45.5%

Peer comparison Passenger Transportation Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
CAR Avis Budget Group Inc	3.8B	34.06x	−7.6%	−1.12x	95.4x	17.2x	34.7x	31.2x
ALK Alaska Air Group Inc	4.0B	2.91x	0.7%	1.13x	−7.7x	28.9x	21.4x	5.5x
JBLU JetBlue Airways Corporation	1.1B	19.67x	−6.6%	0.80x	−1.1x	−2.3x	47.4x	10.4x
HTZ Hertz Global Holdings Inc	684M	−53.44x	−8.8%	−1.09x	−2.4x	−16.8x	81.9x	33.6x
Mean		0.80x	−5.6%	−0.07x	21.1x	6.7x	46.4x	20.2x
Median		11.29x	−7.1%	−0.14x	−1.7x	7.4x	41.1x	20.8x

Technical analysis

1M+2.9%
3M−35.1%
1Y−25.9%
3Y−29.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Avis Budget Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	11,652	11,789	12,008	11,994	9,313	5,402
Cost of revenue	4,628	4,669	4,414	5,293	4,255	3,200
Gross profit	7,024	7,120	7,594	6,701	5,058	2,202
Selling, general & administrative expenses	2,853	2,771	2,831	1,486	1,300	898
Research & development	–	–	–	–	–	–
Depreciation/amortization	2,888	2,895	2,444	1,934	1,674	1,616
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	616	2,606	26.0	19.0	206	252
Other operating expenses	11.0	2.0	−22.0	−7.0	0	0
Operating income	656	−1,154	2,315	3,269	1,878	−564
Net interest income (expense)	−1,347	−1,306	−1,057	−652	−531	−549
Gain (loss) on sale of assets	−238	−167	656	1,019	361	157
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	−929	−2,627	1,914	3,636	1,708	−956
Provision for taxes	66.0	−810	279	880	425	−272
Minority interest	106	−4.0	−3.0	8.0	2.0	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−889	−1,821	1,632	2,764	1,285	−684
Extraordinary items	–	–	–	–	–	–
Net income	−889	−1,821	1,632	2,764	1,285	−684
EBIT, normalized	1,272	1,452	2,341	3,288	2,084	−312
EBITDA, normalized	4,160	4,347	4,785	5,222	3,758	1,304
Basic EPS, normalized	−0.88	18.28	42.08	58.05	22.49	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Avis Budget Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	519	534	555	570	534	692
Receivables	884	841	900	810	775	647
Total inventory	–	–	–	–	–	–
Prepaid expenses	248	239	239	252	205	161
Other current assets	442	420	445	254	333	295
Total current assets	2,093	2,034	2,139	1,886	1,847	1,795
Property, plant & equipment	22,749	21,446	24,730	18,960	15,771	11,370
Goodwill	1,129	1,071	1,099	1,070	1,108	1,137
Intangibles	589	601	670	666	724	774
Long-term investments	1,757	1,436	1,328	976	842	667
Note receivable	498	313	326	421	222	281
Other long-term assets	2,442	2,140	2,277	1,948	2,086	1,514
Total assets	31,257	29,041	32,569	25,927	22,600	17,538
Liabilities
Accounts payable	453	450	487	466	407	394
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,666	1,497	1,291	1,274	1,220	968
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	24.0	20.0	32.0	27.0	19.0	19.0
Other current liabilities	746	753	849	807	762	672
Total current liabilities	2,889	2,720	2,659	2,574	2,408	2,053
Long-term debt	25,237	22,909	23,728	18,453	15,380	11,048
Minority interest	87.0	10.0	6.0	3.0	11.0	–
Other liabilities	6,173	5,729	6,525	5,600	5,021	4,592
Total liabilities	34,386	31,368	32,918	26,630	22,820	17,693
Shareholders' equity
Preferred stock	0	0	–	0	0	0
Common stock	1.0	1.0	1.0	1.0	1.0	1.0
Additional paid-in capital	6,622	6,620	6,634	6,666	6,676	6,668
Retained earnings (accumulated deficit)	1,139	2,029	3,854	2,579	−185	−1,470
Treasury stock	−10,753	−10,767	−10,742	−9,848	−6,579	−5,167
Other equity	−138	−210	−96.0	−101	−133	−187
Total equity	−3,129	−2,327	−349	−703	−220	−155
Total liabilities & shareholders' equity	31,257	29,041	32,569	25,927	22,600	17,538

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Avis Budget Group Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−995	−1,817	1,635	2,756	1,283	−684
Depreciation, depletion & amortization	2,888	2,895	2,444	1,934	1,674	1,616
Deferred taxes	−24.0	−905	191	682	378	−317
Non-cash items	2,265	4,333	425	−83.0	644	839
Changes in working capital	−838	−988	−867	−582	−488	−763
Cash from operations	3,296	3,518	3,828	4,707	3,491	691
Investing activities
Capital expenditures	−15,274	−10,062	−15,458	−10,737	−10,162	−5,495
Other investing cash flows	10,110	7,309	8,112	6,438	3,856	8,672
Cash from investing	−5,164	−2,753	−7,346	−4,299	−6,306	3,177
Financing activities
Financing cash flow items	137	−72.0	−66.0	6.0	−11.0	−44.0
Cash dividends paid	0	0	−355	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	1,721	−709	3,927	−366	2,698	−4,001
Cash from financing	1,858	−781	3,506	−360	2,687	−4,045
Foreign exchange effects	31.0	−31.0	14.0	−32.0	−11.0	42.0
Net change in cash	21.0	−47.0	2.0	16.0	−139	−135
Free cash flow	−11,978	−6,544	−11,630	−6,030	−6,671	−4,804

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.