Avis Budget Group (CAR) Financials

$71.25 +1.57 (+2.25%)

As of 02:28 PM Eastern

Annual Income Statements for Avis Budget Group

This table shows Avis Budget Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	313	163	361	165	302	-684	1,285	2,764	1,632	-1,821
Consolidated Net Income / (Loss)	313	163	361	165	302	-684	1,283	2,756	1,635	-1,817
Net Income / (Loss) Continuing Operations	313	163	361	165	302	-684	1,283	2,756	1,635	-1,817
Total Pre-Tax Income	382	279	211	267	287	-956	1,708	3,636	1,914	-2,627
Total Operating Income	576	482	399	455	465	-725	1,926	3,886	2,215	-2,269
Total Gross Profit	8,502	8,659	8,848	9,124	9,172	5,402	9,313	11,994	12,008	11,789
Total Revenue	8,502	8,659	8,848	9,124	9,172	5,402	9,313	11,994	12,008	11,789
Operating Revenue	6,026	8,659	8,848	9,124	9,172	5,402	9,313	11,994	12,008	11,789
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	7,926	8,177	8,449	8,669	8,707	6,127	7,387	8,108	9,793	14,058
Selling, General & Admin Expense	5,377	5,516	5,592	5,859	5,935	4,025	5,400	6,633	7,083	7,366
Depreciation Expense	2,151	2,300	2,480	2,435	2,326	1,654	1,469	1,053	1,955	3,213
Other Operating Expenses / (Income)	357	305	286	314	344	321	318	403	739	950
Impairment Charge	0.00	0.00	2.00	-	-	-	-	0.00	0.00	2,470
Restructuring Charge	18	29	86	42	90	118	64	19	11	37
Other Special Charges / (Income)	23	27	3.00	19	12	9.00	136	0.00	5.00	22
Total Other Income / (Expense), net	-194	-203	-188	-188	-178	-231	-218	-250	-296	-358
Interest Expense	194	203	188	188	178	231	218	250	296	358
Income Tax Expense	69	116	-150	102	-15	-272	425	880	279	-810
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	0.00	0.00	-2.00	-8.00	3.00	4.00
Basic Earnings per Share	$3.02	$1.78	$4.32	$2.08	$4.01	($9.71)	$19.79	$58.41	$42.57	($51.23)
Weighted Average Basic Shares Outstanding	103.40M	92M	83.40M	79.30M	74.36M	69.84M	53.77M	39.47M	35.47M	35.11M
Diluted Earnings per Share	$2.98	$1.75	$4.25	$2.06	$3.98	($9.71)	$19.44	$57.16	$42.08	($51.23)
Weighted Average Diluted Shares Outstanding	103.40M	92M	83.40M	79.30M	74.36M	69.84M	53.77M	39.47M	35.47M	35.11M
Weighted Average Basic & Diluted Shares Outstanding	103.40M	92M	83.40M	79.30M	74.36M	69.84M	53.77M	39.47M	35.47M	35.11M

This table shows Avis Budget Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	1,034	423	312	435	626	259	-114	14	237	-1,958
Consolidated Net Income / (Loss)	1,031	424	312	436	627	260	-113	15	238	-1,957
Net Income / (Loss) Continuing Operations	1,031	424	312	436	627	260	-113	15	238	-1,957
Total Pre-Tax Income	1,342	516	397	598	757	162	-142	27	329	-2,841
Total Operating Income	1,406	584	470	666	840	239	-59	115	424	-2,749
Total Gross Profit	3,547	2,771	2,557	3,123	3,564	2,764	2,551	3,048	3,480	2,710
Total Revenue	3,547	2,771	2,557	3,123	3,564	2,764	2,551	3,048	3,480	2,710
Operating Revenue	3,547	2,771	2,557	3,123	3,564	2,764	2,551	3,048	3,480	2,710
Total Operating Expenses	2,141	2,187	2,087	2,457	2,724	2,525	2,610	2,933	3,056	5,459
Selling, General & Admin Expense	1,848	1,647	1,631	1,853	1,940	1,659	1,669	1,880	1,942	1,875
Depreciation Expense	193	406	321	427	572	635	697	791	864	861
Other Operating Expenses / (Income)	98	131	131	176	209	223	240	246	244	220
Restructuring Charge	2.00	3.00	4.00	1.00	2.00	4.00	3.00	14	6.00	14
Other Special Charges / (Income)	0.00	-	0.00	0.00	1.00	4.00	1.00	2.00	0.00	19
Total Other Income / (Expense), net	-64	-69	-73	-68	-80	-75	-83	-88	-95	-92
Interest Expense	64	69	73	68	80	75	83	88	95	92
Income Tax Expense	311	92	85	162	130	-98	-29	12	91	-884
Net Income / (Loss) Attributable to Noncontrolling Interest	-3.00	1.00	0.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00
Basic Earnings per Share	$22.08	$10.32	$7.88	$11.13	$16.96	$6.60	($3.21)	$0.41	$6.67	($55.10)
Weighted Average Basic Shares Outstanding	41.47M	39.47M	39.76M	38.74M	36.22M	35.47M	35.65M	35.66M	35.14M	35.11M
Diluted Earnings per Share	$21.67	$10.07	$7.72	$11.01	$16.78	$6.57	($3.21)	$0.41	$6.65	($55.08)
Weighted Average Diluted Shares Outstanding	41.47M	39.47M	39.76M	38.74M	36.22M	35.47M	35.65M	35.66M	35.14M	35.11M
Weighted Average Basic & Diluted Shares Outstanding	41.47M	39.47M	39.76M	38.74M	36.22M	35.47M	35.65M	35.66M	35.14M	35.11M

This table details how cash moves in and out of Avis Budget Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-36	3.00	181	-166	165	-135	-139	16	2.00	-47
Net Cash From Operating Activities	2,627	2,640	2,648	2,609	2,586	691	3,491	4,707	3,828	3,518
Net Cash From Continuing Operating Activities	2,627	2,640	2,648	2,609	2,586	691	3,491	4,707	3,823	3,497
Net Income / (Loss) Continuing Operations	313	163	361	165	302	-684	1,283	2,756	1,635	-1,817
Consolidated Net Income / (Loss)	313	163	361	165	302	-684	1,283	2,756	1,635	-1,817
Depreciation Expense	2,055	2,130	2,206	2,230	2,153	1,616	1,674	1,934	2,444	2,895
Amortization Expense	42	37	34	28	1,020	978	839	911	1,046	1,160
Non-Cash Adjustments To Reconcile Net Income	-9.00	44	68	-5.00	-48	-1,075	-195	-760	-278	3,152
Changes in Operating Assets and Liabilities, net	226	266	-21	191	-841	-144	-110	-134	-1,024	-1,893
Net Cash From Investing Activities	-2,685	-2,182	-2,204	-3,426	-2,752	3,177	-6,306	-4,299	-7,346	-2,753
Net Cash From Continuing Investing Activities	-2,685	-2,182	-2,204	-3,426	-2,752	2,909	-6,306	-4,299	-7,346	-2,753
Purchase of Property, Plant & Equipment	-12,127	-12,651	-11,735	-12,820	-13,137	-5,495	-10,162	-10,737	-15,458	-10,062
Purchase of Investments	0.00	0.00	-61	-188	-251	-355	-413	-442	-606	-801
Sale of Property, Plant & Equipment	9,695	10,523	9,608	9,665	10,471	8,759	4,080	6,608	8,406	7,397
Other Investing Activities, net	3.00	1.00	5.00	-44	81	0.00	189	272	312	713
Net Cash From Financing Activities	72	-449	-308	667	318	-4,045	2,687	-360	3,506	-781
Net Cash From Continuing Financing Activities	72	-449	-308	667	318	-3,777	2,687	-360	3,506	-781
Repayment of Debt	-14,007	-16,714	-17,899	-531	-517	-18,490	-1,377	-32	-840	-967
Repurchase of Common Equity	-436	-398	-210	-216	-67	-119	-1,460	-3,329	-951	-70
Payment of Dividends	-	-	-	-	-	-	-	0.00	-355	0.00
Issuance of Debt	14,515	16,663	17,801	485	402	14,817	1,100	729	936	1,569
Issuance of Common Equity	-	-	-	0.00	0.00	15	38	40	0.00	0.00
Other Financing Activities, net	-	-	-	929	500	-	4,386	2,232	4,716	-1,313
Effect of Exchange Rate Changes	-50	-6.00	45	-16	13	42	-11	-32	14	-31
Cash Interest Paid	454	461	460	497	509	503	509	543	988	1,273
Cash Income Taxes Paid	29	60	58	53	93	44	75	192	169	50

This table details how cash moves in and out of Avis Budget Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	37	-79	-13	53	39	-77	-45	-16	66	-52
Net Cash From Operating Activities	1,491	845	819	963	1,253	793	589	884	1,273	772
Net Cash From Continuing Operating Activities	1,491	845	819	963	1,253	788	589	884	1,273	751
Net Income / (Loss) Continuing Operations	1,031	424	312	436	627	260	-113	15	238	-1,957
Consolidated Net Income / (Loss)	1,031	424	312	436	627	260	-113	15	238	-1,957
Depreciation Expense	514	534	533	592	669	650	623	713	781	778
Amortization Expense	232	249	260	262	331	193	314	243	310	293
Non-Cash Adjustments To Reconcile Net Income	-576	716	-492	-447	-457	1,118	-253	-180	-254	3,839
Changes in Operating Assets and Liabilities, net	290	-1,078	206	120	83	-1,433	18	93	198	-2,202
Net Cash From Investing Activities	294	-723	-1,678	-3,536	-1,716	-416	-1,518	-1,037	-141	-57
Net Cash From Continuing Investing Activities	294	-723	-1,678	-3,536	-1,716	-416	-1,518	-1,037	-141	-57
Purchase of Property, Plant & Equipment	-1,721	-2,671	-3,924	-5,062	-3,803	-2,669	-4,134	-2,859	-1,295	-1,774
Purchase of Investments	-141	-90	-108	-254	-115	-129	-255	-120	-296	-130
Sale of Property, Plant & Equipment	2,014	1,998	2,283	1,694	2,130	2,299	2,611	1,817	1,227	1,742
Other Investing Activities, net	197	-15	71	86	72	83	260	125	223	105
Net Cash From Financing Activities	-1,720	-222	841	2,625	512	-472	897	139	-1,079	-738
Net Cash From Continuing Financing Activities	-1,720	-222	841	2,625	512	-472	897	139	-1,079	-738
Repayment of Debt	-5,088	11,376	-7.00	-7.00	-338	-488	-21	-385	-17	-544
Repurchase of Common Equity	-826	-755	-51	-149	-490	-261	-15	-1.00	-9.00	-45
Other Financing Activities, net	-	-	899	2,781	901	135	282	307	-1,753	-149
Effect of Exchange Rate Changes	-28	21	5.00	1.00	-10	18	-13	-2.00	13	-29

This table presents Avis Budget Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	17,634	17,643	17,699	19,149	23,126	17,538	22,600	25,927	32,569	29,041
Total Current Assets	1,627	1,817	2,066	2,174	2,145	1,795	1,847	1,886	2,139	2,034
Cash & Equivalents	452	490	611	615	686	692	534	570	555	534
Accounts Receivable	668	808	922	955	911	647	775	810	900	838
Other Current Assets	507	519	533	604	548	456	538	506	684	662
Plant, Property, & Equipment, net	11,339	685	11,330	12,210	12,969	8,810	13,403	16,555	21,959	18,316
Total Noncurrent Assets	4,668	15,141	4,303	4,765	8,012	6,933	7,350	7,486	8,471	8,691
Long-Term Investments	362	362	423	559	649	667	842	976	1,211	1,308
Noncurrent Note & Lease Receivables	438	527	547	631	778	281	222	421	443	386
Goodwill	973	1,007	1,073	1,092	1,101	1,137	1,108	1,070	1,099	1,071
Intangible Assets	917	870	850	825	798	774	724	666	670	601
Noncurrent Deferred & Refundable Income Taxes	1,488	1,493	931	1,301	1,662	1,198	1,615	1,379	1,868	1,786
Other Noncurrent Operating Assets	490	10,882	479	357	3,024	2,876	2,839	2,974	3,180	3,539
Total Liabilities & Shareholders' Equity	17,634	17,643	17,699	19,149	23,126	17,538	22,600	25,927	32,569	29,041
Total Liabilities	17,195	17,422	17,126	18,735	22,470	17,693	22,809	26,627	32,912	31,358
Total Current Liabilities	1,511	1,767	1,645	1,716	2,225	2,053	2,408	2,574	2,659	2,720
Short-Term Debt	26	279	26	23	19	19	19	27	32	20
Accounts Payable	1,485	1,488	1,619	1,693	2,206	2,034	2,389	2,547	2,627	2,700
Total Noncurrent Liabilities	15,684	15,655	15,481	17,019	20,245	15,640	20,401	24,053	30,253	28,638
Long-Term Debt	12,295	5,427	12,794	13,760	14,484	11,048	15,380	18,453	23,728	22,909
Capital Lease Obligations	-	-	-	0.00	2,140	2,078	1,910	1,884	2,117	2,484
Noncurrent Deferred & Payable Income Tax Liabilities	2,367	2,429	1,594	1,961	2,189	1,383	2,242	2,754	3,418	2,442
Other Noncurrent Operating Liabilities	1,022	7,799	1,093	1,298	1,432	1,131	869	962	990	803
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	439	221	573	414	656	-155	-209	-700	-343	-2,317
Total Preferred & Common Equity	439	221	573	414	656	-155	-220	-703	-349	-2,327
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	439	221	573	414	656	-155	-220	-703	-349	-2,327
Common Stock	7,011	6,919	6,821	6,772	6,742	6,669	6,677	6,667	6,635	6,621
Retained Earnings	-1,802	-1,639	-1,222	-1,091	-785	-1,470	-185	2,579	3,854	2,029
Treasury Stock	-4,623	-4,905	-5,002	-5,134	-5,144	-5,167	-6,579	-9,848	-10,742	-10,767
Accumulated Other Comprehensive Income / (Loss)	-147	-154	-24	-133	-157	-187	-133	-101	-96	-210
Noncontrolling Interest	-	-	-	-	-	0.00	11	3.00	6.00	10

This table presents Avis Budget Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	25,197	27,388	31,395	32,304	33,528	33,882	32,749
Total Current Assets	1,976	1,983	2,233	2,226	2,333	2,460	2,319
Cash & Equivalents	581	548	571	572	522	511	602
Accounts Receivable	869	801	897	918	1,032	1,062	917
Other Current Assets	526	634	765	736	779	887	800
Plant, Property, & Equipment, net	15,897	18,038	21,249	21,894	22,729	23,178	22,052
Total Noncurrent Assets	7,324	7,367	7,913	8,184	8,466	8,244	8,378
Long-Term Investments	927	1,010	1,148	1,172	1,205	1,199	1,283
Noncurrent Note & Lease Receivables	478	353	421	519	431	326	423
Goodwill	1,031	1,076	1,082	1,081	1,088	1,087	1,109
Intangible Assets	662	659	669	658	658	650	647
Noncurrent Deferred & Refundable Income Taxes	1,316	1,399	1,457	1,472	1,811	1,715	1,565
Other Noncurrent Operating Assets	2,910	2,870	3,136	3,282	3,273	3,267	3,351
Total Liabilities & Shareholders' Equity	25,197	27,388	31,395	32,304	33,528	33,882	32,749
Total Liabilities	25,704	27,829	31,520	32,332	34,036	34,364	32,978
Total Current Liabilities	2,746	2,749	2,844	2,763	3,074	2,866	3,326
Short-Term Debt	27	34	34	30	405	28	540
Accounts Payable	2,719	2,715	2,810	2,733	2,669	2,838	2,786
Total Noncurrent Liabilities	22,958	25,080	28,676	29,569	30,962	31,498	29,652
Long-Term Debt	17,667	19,439	22,442	23,389	24,222	24,767	23,358
Capital Lease Obligations	1,822	1,852	2,079	2,178	2,234	2,234	2,351
Noncurrent Deferred & Payable Income Tax Liabilities	2,636	2,820	2,997	3,092	3,325	3,231	3,114
Other Noncurrent Operating Liabilities	833	969	1,158	910	1,181	1,266	829
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-507	-441	-125	-28	-508	-482	-229
Total Preferred & Common Equity	-509	-444	-129	-33	-515	-490	-238
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-509	-444	-129	-33	-515	-490	-238
Common Stock	6,677	6,621	6,626	6,627	6,611	6,617	6,616
Retained Earnings	2,156	2,891	3,326	3,952	3,738	3,751	3,988
Treasury Stock	-9,157	-9,845	-9,991	-10,482	-10,724	-10,723	-10,730
Accumulated Other Comprehensive Income / (Loss)	-185	-111	-90	-130	-140	-135	-112
Noncontrolling Interest	2.00	3.00	4.00	5.00	7.00	8.00	9.00

This table displays calculated financial ratios and metrics derived from Avis Budget Group's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.20%	1.85%	2.18%	3.12%	0.53%	-41.10%	72.40%	28.79%	0.12%	-1.82%
EBITDA Growth	0.41%	-0.90%	-0.38%	2.80%	34.10%	-48.63%	137.51%	51.63%	-15.24%	-68.69%
EBIT Growth	-4.16%	-16.32%	-17.22%	14.04%	2.20%	-255.91%	365.66%	101.77%	-43.00%	-202.44%
NOPAT Growth	25.65%	-40.33%	142.42%	-58.81%	74.02%	-203.72%	385.07%	103.59%	-35.76%	-183.94%
Net Income Growth	27.76%	-47.92%	121.47%	-54.29%	83.03%	-326.49%	287.57%	114.81%	-40.67%	-211.13%
EPS Growth	34.23%	-41.28%	142.86%	-51.53%	93.20%	-343.97%	300.21%	194.03%	-26.38%	-221.74%
Operating Cash Flow Growth	1.86%	0.49%	0.30%	-1.47%	-0.88%	-73.28%	405.21%	34.83%	-18.67%	-8.10%
Free Cash Flow Firm Growth	-44.92%	1,952.80%	-192.29%	94.20%	-540.43%	256.03%	-169.17%	120.84%	-781.40%	124.63%
Invested Capital Growth	7.74%	-57.52%	143.53%	5.37%	22.58%	-27.14%	35.19%	15.23%	31.18%	-10.58%
Revenue Q/Q Growth	0.04%	-0.26%	1.61%	0.34%	1.24%	-13.00%	14.99%	1.71%	-0.06%	-0.46%
EBITDA Q/Q Growth	2.26%	-1.30%	2.68%	-0.18%	6.94%	-13.15%	22.56%	0.51%	-4.76%	-60.67%
EBIT Q/Q Growth	11.20%	-9.23%	12.39%	1.11%	0.22%	-19.83%	51.42%	-0.08%	-13.48%	-417.79%
NOPAT Q/Q Growth	11.19%	-8.53%	191.94%	-55.49%	68.24%	-19.83%	44.27%	2.26%	-6.82%	-309.10%
Net Income Q/Q Growth	-11.58%	-13.76%	228.18%	-55.65%	74.57%	-51.33%	58.00%	1.59%	-9.12%	-554.25%
EPS Q/Q Growth	-11.04%	-16.27%	221.97%	-53.92%	76.89%	-47.79%	57.03%	8.09%	-7.68%	-591.65%
Operating Cash Flow Q/Q Growth	3.02%	-2.22%	3.04%	-3.44%	5.77%	-46.31%	33.91%	-2.04%	-1.34%	-0.59%
Free Cash Flow Firm Q/Q Growth	-105.54%	2,367.69%	7.74%	-491.84%	-16.46%	-72.68%	77.77%	292.84%	12.47%	105.91%
Invested Capital Q/Q Growth	101.04%	-14.85%	-7.42%	-6.19%	-1.94%	527.35%	6.52%	3.53%	-0.24%	-11.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	31.44%	30.59%	29.83%	29.73%	39.66%	34.60%	47.66%	56.12%	47.51%	15.15%
Operating Margin	6.77%	5.57%	4.51%	4.99%	5.07%	-13.42%	20.68%	32.40%	18.45%	-19.25%
EBIT Margin	6.77%	5.57%	4.51%	4.99%	5.07%	-13.42%	20.68%	32.40%	18.45%	-19.25%
Profit (Net Income) Margin	3.68%	1.88%	4.08%	1.81%	3.29%	-12.66%	13.78%	22.98%	13.62%	-15.41%
Tax Burden Percent	81.94%	58.42%	171.09%	61.80%	105.23%	71.55%	75.12%	75.80%	85.42%	69.17%
Interest Burden Percent	66.32%	57.88%	52.88%	58.68%	61.72%	131.86%	88.68%	93.57%	86.41%	115.78%
Effective Tax Rate	18.06%	41.58%	-71.09%	38.20%	-5.23%	0.00%	24.88%	24.20%	14.58%	0.00%
Return on Invested Capital (ROIC)	4.10%	3.31%	7.83%	2.22%	3.38%	-3.68%	10.58%	17.41%	9.03%	-7.06%
ROIC Less NNEP Spread (ROIC-NNEP)	2.65%	1.86%	3.97%	1.26%	2.03%	-4.98%	9.40%	16.32%	7.84%	-8.01%
Return on Net Nonoperating Assets (RNNOA)	52.61%	46.09%	83.10%	31.22%	53.07%	-269.38%	-715.52%	-623.79%	-322.55%	143.67%
Return on Equity (ROE)	56.70%	49.39%	90.93%	33.43%	56.45%	-273.05%	-704.95%	-606.38%	-313.52%	136.62%
Cash Return on Invested Capital (CROIC)	-3.35%	84.04%	-75.73%	-3.02%	-16.92%	27.73%	-19.35%	3.26%	-17.94%	4.11%
Operating Return on Assets (OROA)	3.34%	2.73%	2.26%	2.47%	2.20%	-3.57%	9.60%	16.02%	7.57%	-7.37%
Return on Assets (ROA)	1.82%	0.92%	2.04%	0.90%	1.43%	-3.36%	6.39%	11.36%	5.59%	-5.90%
Return on Common Equity (ROCE)	56.70%	49.39%	90.93%	33.43%	56.45%	-273.05%	-726.25%	-615.72%	-316.22%	137.44%
Return on Equity Simple (ROE_SIMPLE)	71.30%	73.76%	63.00%	39.86%	46.04%	441.29%	-583.18%	-392.03%	-468.48%	78.08%
Net Operating Profit after Tax (NOPAT)	472	282	683	281	489	-508	1,447	2,945	1,892	-1,588
NOPAT Margin	5.55%	3.25%	7.72%	3.08%	5.33%	-9.39%	15.53%	24.56%	15.76%	-13.47%
Net Nonoperating Expense Percent (NNEP)	1.45%	1.45%	3.87%	0.95%	1.34%	1.30%	1.18%	1.09%	1.20%	0.96%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	14.98%	7.41%	-6.88%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	63.24%	63.70%	63.20%	64.22%	64.71%	74.51%	57.98%	55.30%	58.99%	62.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	93.23%	94.43%	95.49%	95.01%	94.93%	113.42%	79.32%	67.60%	81.55%	119.25%
Earnings before Interest and Taxes (EBIT)	576	482	399	455	465	-725	1,926	3,886	2,215	-2,269
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,673	2,649	2,639	2,713	3,638	1,869	4,439	6,731	5,705	1,786
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.88	13.86	5.92	3.99	3.45	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.41	0.35	0.38	0.18	0.25	0.46	1.19	0.54	0.53	0.24
Price to Earnings (P/E)	11.05	18.79	9.40	10.01	7.49	0.00	8.65	2.34	3.93	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.64%	0.00%
Earnings Yield	9.05%	5.32%	10.63%	9.99%	13.35%	0.00%	11.55%	42.80%	25.42%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.25	1.56	1.23	1.10	1.10	1.23	1.72	1.40	1.28	1.24
Enterprise Value to Revenue (EV/Rev)	1.76	0.91	1.72	1.56	1.92	2.64	2.91	2.11	2.54	2.24
Enterprise Value to EBITDA (EV/EBITDA)	5.60	2.99	5.75	5.26	4.83	7.63	6.10	3.76	5.35	14.79
Enterprise Value to EBIT (EV/EBIT)	25.98	16.43	38.05	31.34	37.78	0.00	14.05	6.51	13.79	0.00
Enterprise Value to NOPAT (EV/NOPAT)	31.71	28.11	22.24	50.72	35.91	0.00	18.71	8.58	16.14	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	5.70	3.00	5.73	5.47	6.79	20.63	7.75	5.37	7.98	7.51
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.11	0.00	0.00	0.00	3.73	0.00	45.84	0.00	28.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	28.07	25.82	22.37	33.29	25.37	-84.81	-82.82	-29.09	-75.44	-10.97
Long-Term Debt to Equity	28.01	24.56	22.33	33.24	25.34	-84.68	-82.73	-29.05	-75.35	-10.96
Financial Leverage	19.86	24.79	20.96	24.72	26.09	54.08	-76.15	-38.23	-41.16	-17.93
Leverage Ratio	31.23	53.45	44.51	37.33	39.51	81.17	-110.27	-53.39	-56.08	-23.16
Compound Leverage Factor	20.71	30.94	23.54	21.91	24.39	107.03	-97.79	-49.95	-48.46	-26.82
Debt to Total Capital	96.56%	96.27%	95.72%	97.08%	96.21%	101.19%	101.22%	103.56%	101.34%	110.03%
Short-Term Debt to Total Capital	0.20%	4.71%	0.19%	0.16%	0.11%	0.15%	0.11%	0.14%	0.13%	0.09%
Long-Term Debt to Total Capital	96.36%	91.56%	95.53%	96.92%	96.10%	101.05%	101.11%	103.42%	101.22%	109.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.02%	0.02%	0.04%
Common Equity to Total Capital	3.44%	3.73%	4.28%	2.92%	3.79%	-1.19%	-1.29%	-3.58%	-1.37%	-10.08%
Debt to EBITDA	4.61	2.15	4.86	5.08	4.57	7.03	3.90	3.03	4.54	14.23
Net Debt to EBITDA	4.30	1.83	4.47	4.65	4.21	6.31	3.59	2.80	4.23	13.20
Long-Term Debt to EBITDA	4.60	2.05	4.85	5.07	4.57	7.02	3.90	3.02	4.53	14.22
Debt to NOPAT	26.11	20.26	18.78	49.02	34.01	-25.90	11.96	6.91	13.68	-16.00
Net Debt to NOPAT	24.38	17.24	17.27	44.84	31.29	-23.22	11.01	6.39	12.74	-14.84
Long-Term Debt to NOPAT	26.05	19.27	18.74	48.94	33.97	-25.86	11.95	6.90	13.66	-15.99
Altman Z-Score	0.58	0.56	0.63	0.56	0.47	0.12	0.94	1.21	0.86	0.27
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.02%	-1.54%	-0.86%	-0.60%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	1.03	1.26	1.27	0.96	0.87	0.77	0.73	0.80	0.75
Quick Ratio	0.74	0.73	0.93	0.91	0.72	0.65	0.54	0.54	0.55	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-386	7,153	-6,601	-383	-2,452	3,826	-2,646	551	-3,758	926
Operating Cash Flow to CapEx	108.02%	124.06%	124.49%	82.69%	97.00%	0.00%	57.40%	114.00%	54.28%	132.01%
Free Cash Flow to Firm to Interest Expense	-1.99	35.23	-35.11	-2.04	-13.77	16.56	-12.14	2.21	-12.70	2.59
Operating Cash Flow to Interest Expense	13.54	13.00	14.09	13.88	14.53	2.99	16.01	18.83	12.93	9.83
Operating Cash Flow Less CapEx to Interest Expense	1.01	2.52	2.77	-2.90	-0.45	17.12	-11.89	2.31	-10.89	2.38
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.49	0.50	0.50	0.43	0.27	0.46	0.49	0.41	0.38
Accounts Receivable Turnover	13.42	11.73	10.23	9.72	9.83	6.93	13.10	15.13	14.04	13.57
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.77	1.44	1.47	0.78	0.73	0.50	0.84	0.80	0.62	0.59
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	27.20	31.11	35.68	37.54	37.13	52.64	27.87	24.12	25.99	26.91
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	27.20	31.11	35.68	37.54	37.13	52.64	27.87	24.12	25.99	26.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,946	5,075	12,359	13,023	15,964	11,631	15,724	18,118	23,768	21,254
Invested Capital Turnover	0.74	1.02	1.02	0.72	0.63	0.39	0.68	0.71	0.57	0.52
Increase / (Decrease) in Invested Capital	858	-6,871	7,284	664	2,941	-4,333	4,093	2,394	5,650	-2,514
Enterprise Value (EV)	14,965	7,917	15,181	14,261	17,569	14,256	27,066	25,279	30,538	26,414
Market Capitalization	3,458	3,063	3,395	1,652	2,261	2,470	11,122	6,458	6,421	2,833
Book Value per Share	$4.38	$2.51	$7.04	$5.35	$8.89	($2.22)	($3.90)	($16.95)	($9.64)	($66.22)
Tangible Book Value per Share	($14.47)	($18.84)	($16.58)	($19.43)	($16.84)	($29.65)	($36.35)	($58.82)	($58.47)	($113.80)
Total Capital	12,760	5,927	13,393	14,197	17,299	12,990	17,100	19,664	25,534	23,096
Total Debt	12,321	5,706	12,820	13,783	16,643	13,145	17,309	20,364	25,877	25,413
Total Long-Term Debt	12,295	5,427	12,794	13,760	16,624	13,126	17,290	20,337	25,845	25,393
Net Debt	11,507	4,854	11,786	12,609	15,308	11,786	15,933	18,818	24,111	23,571
Capital Expenditures (CapEx)	2,432	2,128	2,127	3,155	2,666	-3,264	6,082	4,129	7,052	2,665
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-310	-161	-164	-134	-747	-931	-1,076	-1,231	-1,043	-1,200
Debt-free Net Working Capital (DFNWC)	142	329	447	481	-61	-239	-542	-661	-488	-666
Net Working Capital (NWC)	116	50	421	458	-80	-258	-561	-688	-520	-686
Net Nonoperating Expense (NNE)	159	119	322	116	187	177	164	189	257	229
Net Nonoperating Obligations (NNO)	11,507	4,854	11,786	12,609	15,308	11,786	15,933	18,818	24,111	23,571
Total Depreciation and Amortization (D&A)	2,097	2,167	2,240	2,258	3,173	2,594	2,513	2,845	3,490	4,055
Debt-free, Cash-free Net Working Capital to Revenue	-3.65%	-1.86%	-1.85%	-1.47%	-8.14%	-17.23%	-11.55%	-10.26%	-8.69%	-10.18%
Debt-free Net Working Capital to Revenue	1.67%	3.80%	5.05%	5.27%	-0.67%	-4.42%	-5.82%	-5.51%	-4.06%	-5.65%
Net Working Capital to Revenue	1.36%	0.58%	4.76%	5.02%	-0.87%	-4.78%	-6.02%	-5.74%	-4.33%	-5.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.02	$1.78	$4.32	$2.08	$4.01	($9.71)	$19.79	$58.41	$42.57	($51.23)
Adjusted Weighted Average Basic Shares Outstanding	97.04M	85.99M	80.95M	75.77M	74.36M	69.84M	53.77M	39.47M	35.47M	35.11M
Adjusted Diluted Earnings per Share	$2.98	$1.75	$4.25	$2.06	$3.98	($9.71)	$19.44	$57.16	$42.08	($51.23)
Adjusted Weighted Average Diluted Shares Outstanding	97.04M	85.99M	80.95M	75.77M	74.36M	69.84M	53.77M	39.47M	35.47M	35.11M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	97.04M	85.99M	80.95M	75.77M	74.36M	69.84M	53.77M	39.47M	35.47M	35.11M
Normalized Net Operating Profit after Tax (NOPAT)	506	314	343	319	397	-419	1,597	2,960	1,906	182
Normalized NOPAT Margin	5.95%	3.63%	3.88%	3.49%	4.33%	-7.75%	17.15%	24.68%	15.87%	1.54%
Pre Tax Income Margin	4.49%	3.22%	2.38%	2.93%	3.13%	-17.70%	18.34%	30.32%	15.94%	-22.28%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.97	2.37	2.12	2.42	2.61	-3.14	8.83	15.54	7.48	-6.34
NOPAT to Interest Expense	2.43	1.39	3.63	1.50	2.75	-2.20	6.64	11.78	6.39	-4.44
EBIT Less CapEx to Interest Expense	-9.57	-8.11	-9.19	-14.36	-12.37	10.99	-19.06	-0.97	-16.34	-13.78
NOPAT Less CapEx to Interest Expense	-10.10	-9.10	-7.68	-15.29	-12.23	11.93	-21.26	-4.73	-17.43	-11.88
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.71%	0.00%
Augmented Payout Ratio	139.30%	244.17%	58.17%	130.91%	22.19%	-17.40%	113.80%	120.79%	79.88%	-3.85%

This table displays calculated financial ratios and metrics derived from Avis Budget Group's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.19%	7.86%	5.14%	-3.73%	0.48%	-0.25%	-0.23%	-2.40%	-2.36%	-1.95%
EBITDA Growth	41.95%	2.55%	-9.07%	-16.62%	-14.50%	-20.85%	-30.48%	-29.54%	-17.66%	-255.08%
EBIT Growth	43.03%	-0.51%	-37.17%	-41.99%	-40.26%	-59.08%	-112.55%	-82.73%	-49.52%	-1,250.21%
NOPAT Growth	51.46%	16.51%	-34.88%	-40.82%	-35.59%	-20.07%	-111.18%	-86.84%	-55.91%	-601.67%
Net Income Growth	52.97%	11.29%	-40.80%	-43.67%	-39.19%	-38.68%	-136.22%	-96.56%	-62.04%	-852.69%
EPS Growth	107.37%	73.92%	-20.49%	-29.92%	-22.57%	-34.76%	-141.58%	-96.28%	-60.37%	-938.36%
Operating Cash Flow Growth	15.31%	-10.39%	-28.66%	-21.26%	-15.96%	-6.15%	-28.08%	-8.20%	1.60%	-2.65%
Free Cash Flow Firm Growth	86.39%	48.00%	16.91%	-32.34%	-239.09%	-175.13%	-101.59%	46.39%	99.94%	111.20%
Invested Capital Growth	18.56%	15.23%	18.51%	23.57%	36.14%	31.18%	27.42%	9.36%	1.30%	-10.58%
Revenue Q/Q Growth	9.34%	-21.88%	-7.72%	22.14%	14.12%	-22.45%	-7.71%	19.48%	14.17%	-22.13%
EBITDA Q/Q Growth	18.05%	-36.48%	-7.61%	20.35%	21.05%	-41.20%	-18.48%	21.98%	41.46%	-210.76%
EBIT Q/Q Growth	22.47%	-58.46%	-19.52%	41.70%	26.13%	-71.55%	-125.21%	294.92%	268.70%	-748.35%
NOPAT Q/Q Growth	31.65%	-55.57%	-23.03%	31.46%	43.28%	-44.87%	-111.00%	254.69%	380.09%	-727.37%
Net Income Q/Q Growth	33.20%	-58.87%	-26.42%	39.74%	43.81%	-58.53%	-143.46%	113.27%	1,486.67%	-922.27%
EPS Q/Q Growth	37.94%	-53.53%	-23.34%	42.62%	52.41%	-60.85%	-148.86%	112.77%	1,521.95%	-928.27%
Operating Cash Flow Q/Q Growth	21.91%	-43.33%	-3.08%	17.58%	30.11%	-36.71%	-25.73%	50.08%	44.00%	-39.36%
Free Cash Flow Firm Q/Q Growth	42.89%	-15.32%	-38.43%	-45.17%	-46.32%	6.43%	-1.27%	61.39%	99.84%	18,097.34%
Invested Capital Q/Q Growth	-4.78%	3.53%	6.67%	17.52%	4.91%	-0.24%	3.61%	0.86%	-2.83%	-11.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	60.67%	49.33%	49.39%	48.67%	51.63%	39.15%	34.42%	35.14%	43.53%	-61.92%
Operating Margin	39.64%	21.08%	18.38%	21.33%	23.57%	8.65%	-2.31%	3.77%	12.18%	-101.44%
EBIT Margin	39.64%	21.08%	18.38%	21.33%	23.57%	8.65%	-2.31%	3.77%	12.18%	-101.44%
Profit (Net Income) Margin	29.07%	15.30%	12.20%	13.96%	17.59%	9.41%	-4.43%	0.49%	6.84%	-72.21%
Tax Burden Percent	76.83%	82.17%	78.59%	72.91%	82.83%	160.49%	79.58%	55.56%	72.34%	68.88%
Interest Burden Percent	95.45%	88.36%	84.47%	89.79%	90.12%	67.78%	240.68%	23.48%	77.59%	103.35%
Effective Tax Rate	23.17%	17.83%	21.41%	27.09%	17.17%	-60.49%	0.00%	44.44%	27.66%	0.00%
Return on Invested Capital (ROIC)	22.26%	12.28%	9.83%	9.08%	11.35%	7.96%	-0.88%	1.05%	4.35%	-37.19%
ROIC Less NNEP Spread (ROIC-NNEP)	21.96%	11.95%	9.52%	8.84%	11.02%	7.38%	-1.20%	0.85%	4.07%	-37.32%
Return on Net Nonoperating Assets (RNNOA)	-1,027.04%	-456.99%	-247.65%	-478.31%	-862.48%	-303.81%	56.95%	-67.32%	-763.19%	669.05%
Return on Equity (ROE)	-1,004.78%	-444.71%	-237.82%	-469.23%	-851.13%	-295.85%	56.06%	-66.26%	-758.84%	631.86%
Cash Return on Invested Capital (CROIC)	0.87%	3.26%	-1.53%	-9.34%	-20.78%	-17.94%	-17.39%	-4.28%	1.87%	4.11%
Operating Return on Assets (OROA)	19.97%	10.42%	8.74%	8.90%	9.85%	3.55%	-0.91%	1.38%	4.44%	-38.82%
Return on Assets (ROA)	14.65%	7.56%	5.80%	5.83%	7.35%	3.86%	-1.75%	0.18%	2.49%	-27.64%
Return on Common Equity (ROCE)	-1,026.16%	-451.56%	-239.82%	-474.69%	-862.26%	-298.40%	56.65%	-67.57%	-800.17%	635.66%
Return on Equity Simple (ROE_SIMPLE)	-533.01%	0.00%	-572.30%	-1,707.75%	0.00%	0.00%	-234.95%	-161.02%	-168.07%	0.00%
Net Operating Profit after Tax (NOPAT)	1,080	480	369	486	696	384	-41	64	307	-1,924
NOPAT Margin	30.45%	17.32%	14.45%	15.55%	19.52%	13.88%	-1.62%	2.10%	8.81%	-71.01%
Net Nonoperating Expense Percent (NNEP)	0.30%	0.32%	0.31%	0.24%	0.33%	0.58%	0.32%	0.20%	0.29%	0.14%
Return On Investment Capital (ROIC_SIMPLE)	-	2.44%	-	-	-	1.50%	-	-	-	-8.33%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	52.10%	59.44%	63.79%	59.33%	54.43%	60.02%	65.43%	61.68%	55.80%	69.19%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	60.36%	78.92%	81.62%	78.67%	76.43%	91.35%	102.31%	96.23%	87.82%	201.44%
Earnings before Interest and Taxes (EBIT)	1,406	584	470	666	840	239	-59	115	424	-2,749
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,152	1,367	1,263	1,520	1,840	1,082	878	1,071	1,515	-1,678
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.58	0.54	0.60	0.72	0.55	0.53	0.37	0.31	0.26	0.24
Price to Earnings (P/E)	2.49	2.34	2.87	3.92	3.68	3.93	3.68	4.75	7.89	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	5.64%	8.17%	9.57%	11.42%	0.00%
Earnings Yield	40.16%	42.80%	34.87%	25.51%	27.16%	25.42%	27.19%	21.07%	12.68%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.42	1.40	1.40	1.39	1.28	1.28	1.20	1.17	1.14	1.24
Enterprise Value to Revenue (EV/Rev)	2.10	2.11	2.23	2.62	2.54	2.54	2.46	2.44	2.32	2.24
Enterprise Value to EBITDA (EV/EBITDA)	3.70	3.76	4.10	5.00	5.09	5.35	5.56	5.97	6.06	14.79
Enterprise Value to EBIT (EV/EBIT)	6.37	6.51	7.50	10.07	11.90	13.79	17.59	25.71	38.51	0.00
Enterprise Value to NOPAT (EV/NOPAT)	8.61	8.58	9.86	13.04	15.01	16.14	19.99	26.20	36.20	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	5.16	5.37	6.18	7.64	7.85	7.98	8.22	8.26	7.77	7.51
Enterprise Value to Free Cash Flow (EV/FCFF)	176.58	45.84	0.00	0.00	0.00	0.00	0.00	0.00	61.16	28.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-38.49	-29.09	-48.36	-196.44	-914.18	-75.44	-52.88	-56.08	-114.62	-10.97
Long-Term Debt to Equity	-38.44	-29.05	-48.28	-196.17	-913.11	-75.35	-52.08	-56.02	-112.27	-10.96
Financial Leverage	-46.76	-38.23	-26.02	-54.09	-78.24	-41.16	-47.31	-79.33	-187.61	-17.93
Leverage Ratio	-66.39	-53.39	-35.79	-74.28	-107.48	-56.08	-64.19	-107.54	-253.12	-23.16
Compound Leverage Factor	-63.37	-47.17	-30.23	-66.69	-96.86	-38.02	-154.49	-25.25	-196.41	-23.94
Debt to Total Capital	102.67%	103.56%	102.11%	100.51%	100.11%	101.34%	101.93%	101.82%	100.88%	110.03%
Short-Term Debt to Total Capital	0.14%	0.14%	0.16%	0.14%	0.12%	0.13%	1.54%	0.11%	2.08%	0.09%
Long-Term Debt to Total Capital	102.53%	103.42%	101.95%	100.37%	99.99%	101.22%	100.39%	101.71%	98.80%	109.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.01%	0.02%	0.01%	0.02%	0.02%	0.02%	0.03%	0.03%	0.03%	0.04%
Common Equity to Total Capital	-2.68%	-3.58%	-2.13%	-0.53%	-0.13%	-1.37%	-1.95%	-1.85%	-0.91%	-10.08%
Debt to EBITDA	2.91	3.03	3.23	3.90	4.27	4.54	5.05	5.55	5.78	14.23
Net Debt to EBITDA	2.69	2.80	2.99	3.62	3.98	4.23	4.73	5.20	5.37	13.20
Long-Term Debt to EBITDA	2.91	3.02	3.22	3.89	4.27	4.53	4.98	5.55	5.66	14.22
Debt to NOPAT	6.78	6.91	7.76	10.17	12.61	13.68	18.16	24.37	34.56	-16.00
Net Debt to NOPAT	6.25	6.39	7.20	9.46	11.75	12.74	16.99	22.83	32.08	-14.84
Long-Term Debt to NOPAT	6.77	6.90	7.75	10.16	12.59	13.66	17.88	24.35	33.85	-15.99
Altman Z-Score	0.89	0.79	0.77	0.74	0.73	0.66	0.56	0.57	0.59	0.22
Noncontrolling Interest Sharing Ratio	-2.13%	-1.54%	-0.84%	-1.16%	-1.31%	-0.86%	-1.05%	-1.98%	-5.45%	-0.60%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.72	0.73	0.72	0.79	0.81	0.80	0.76	0.86	0.70	0.75
Quick Ratio	0.53	0.54	0.49	0.52	0.54	0.55	0.51	0.55	0.46	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,660	-1,914	-2,650	-3,846	-5,628	-5,266	-5,341	-2,062	-3.28	590
Operating Cash Flow to CapEx	0.00%	125.56%	49.91%	28.59%	74.90%	214.32%	38.67%	84.84%	1,872.06%	2,412.50%
Free Cash Flow to Firm to Interest Expense	-25.93	-27.74	-36.30	-56.57	-70.35	-70.22	-64.35	-23.43	-0.03	6.41
Operating Cash Flow to Interest Expense	23.30	12.25	11.22	14.16	15.66	10.57	7.10	10.05	13.40	8.39
Operating Cash Flow Less CapEx to Interest Expense	27.88	2.49	-11.26	-35.37	-5.25	5.64	-11.25	-1.80	12.68	8.04
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.49	0.48	0.42	0.42	0.41	0.39	0.37	0.36	0.38
Accounts Receivable Turnover	14.02	15.13	15.34	13.57	13.45	14.04	13.10	12.18	12.91	13.57
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.83	0.80	0.74	0.63	0.64	0.62	0.59	0.54	0.54	0.59
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	26.03	24.12	23.79	26.89	27.14	25.99	27.87	29.98	28.28	26.91
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	26.03	24.12	23.79	26.89	27.14	25.99	27.87	29.98	28.28	26.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,501	18,118	19,326	22,711	23,825	23,768	24,626	24,837	24,135	21,254
Invested Capital Turnover	0.73	0.71	0.68	0.58	0.58	0.57	0.55	0.50	0.49	0.52
Increase / (Decrease) in Invested Capital	2,740	2,394	3,019	4,332	6,324	5,650	5,300	2,126	310	-2,514
Enterprise Value (EV)	24,790	25,279	27,075	31,479	30,472	30,538	29,577	29,053	27,497	26,414
Market Capitalization	6,780	6,458	7,305	8,639	6,614	6,421	4,436	3,726	3,124	2,833
Book Value per Share	($10.59)	($16.95)	($11.25)	($3.24)	($0.85)	($9.64)	($14.45)	($13.75)	($6.67)	($66.22)
Tangible Book Value per Share	($45.81)	($58.82)	($55.21)	($47.28)	($45.74)	($58.47)	($63.43)	($62.47)	($55.91)	($113.80)
Total Capital	19,009	19,664	20,884	24,430	25,569	25,534	26,353	26,547	26,020	23,096
Total Debt	19,516	20,364	21,325	24,555	25,597	25,877	26,861	27,029	26,249	25,413
Total Long-Term Debt	19,489	20,337	21,291	24,521	25,567	25,845	26,456	27,001	25,709	25,393
Net Debt	18,008	18,818	19,767	22,836	23,853	24,111	25,134	25,319	24,364	23,571
Capital Expenditures (CapEx)	-293	673	1,641	3,368	1,673	370	1,523	1,042	68	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,324	-1,231	-1,280	-1,148	-1,079	-1,043	-858	-889	-1,069	-1,200
Debt-free Net Working Capital (DFNWC)	-743	-661	-732	-577	-507	-488	-336	-378	-467	-666
Net Working Capital (NWC)	-770	-688	-766	-611	-537	-520	-741	-406	-1,007	-686
Net Nonoperating Expense (NNE)	49	56	57	50	69	124	72	49	69	33
Net Nonoperating Obligations (NNO)	18,008	18,818	19,767	22,836	23,853	24,111	25,134	25,319	24,364	23,571
Total Depreciation and Amortization (D&A)	746	783	793	854	1,000	843	937	956	1,091	1,071
Debt-free, Cash-free Net Working Capital to Revenue	-11.23%	-10.26%	-10.56%	-9.57%	-8.98%	-8.69%	-7.15%	-7.45%	-9.03%	-10.18%
Debt-free Net Working Capital to Revenue	-6.30%	-5.51%	-6.04%	-4.81%	-4.22%	-4.06%	-2.80%	-3.17%	-3.94%	-5.65%
Net Working Capital to Revenue	-6.53%	-5.74%	-6.32%	-5.09%	-4.47%	-4.33%	-6.17%	-3.40%	-8.50%	-5.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$22.08	$10.32	$7.88	$11.13	$16.96	$6.60	($3.21)	$0.41	$6.67	($55.10)
Adjusted Weighted Average Basic Shares Outstanding	41.47M	39.47M	39.76M	38.74M	36.22M	35.47M	35.65M	35.66M	35.14M	35.11M
Adjusted Diluted Earnings per Share	$21.67	$10.07	$7.72	$11.01	$16.78	$6.57	($3.21)	$0.41	$6.65	($55.08)
Adjusted Weighted Average Diluted Shares Outstanding	41.47M	39.47M	39.76M	38.74M	36.22M	35.47M	35.65M	35.66M	35.14M	35.11M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	41.47M	39.47M	39.76M	38.74M	36.22M	35.47M	35.65M	35.66M	35.14M	35.11M
Normalized Net Operating Profit after Tax (NOPAT)	1,082	482	373	486	698	173	-39	73	311	-1,901
Normalized NOPAT Margin	30.50%	17.41%	14.57%	15.57%	19.59%	6.26%	-1.51%	2.39%	8.94%	-70.16%
Pre Tax Income Margin	37.83%	18.62%	15.53%	19.15%	21.24%	5.86%	-5.57%	0.89%	9.45%	-104.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	21.97	8.46	6.44	9.79	10.50	3.19	-0.71	1.31	4.46	-29.88
NOPAT to Interest Expense	16.88	6.95	5.06	7.14	8.70	5.11	-0.50	0.73	3.23	-20.92
EBIT Less CapEx to Interest Expense	26.55	-1.29	-16.04	-39.74	-10.41	-1.75	-19.06	-10.53	3.75	-30.23
NOPAT Less CapEx to Interest Expense	21.46	-2.80	-17.42	-42.39	-12.22	0.18	-18.85	-11.11	2.51	-21.26
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	21.71%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	111.94%	120.79%	81.90%	80.84%	80.32%	79.88%	75.62%	97.21%	71.50%	-3.85%

Frequently Asked Questions About Avis Budget Group's Financials

When does Avis Budget Group's financial year end?

According to the most recent income statement we have on file, Avis Budget Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Avis Budget Group's net income changed over the last 9 years?

Avis Budget Group's net income appears to be on an upward trend, with a most recent value of -$1.82 billion in 2024, falling from $313 million in 2015. The previous period was $1.64 billion in 2023.

What is Avis Budget Group's operating income?

Avis Budget Group's total operating income in 2024 was -$2.27 billion, based on the following breakdown:

Total Gross Profit: $11.79 billion
Total Operating Expenses: $14.06 billion

How has Avis Budget Group revenue changed over the last 9 years?

Over the last 9 years, Avis Budget Group's total revenue changed from $8.50 billion in 2015 to $11.79 billion in 2024, a change of 38.7%.

How much debt does Avis Budget Group have?

Avis Budget Group's total liabilities were at $31.36 billion at the end of 2024, a 4.7% decrease from 2023, and a 82.4% increase since 2015.

How much cash does Avis Budget Group have?

In the past 9 years, Avis Budget Group's cash and equivalents has ranged from $452 million in 2015 to $692 million in 2020, and is currently $534 million as of their latest financial filing in 2024.

How has Avis Budget Group's book value per share changed over the last 9 years?

Over the last 9 years, Avis Budget Group's book value per share changed from 4.38 in 2015 to -66.22 in 2024, a change of -1,613.1%.

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This page (NASDAQ:CAR) was last updated on 4/14/2025 by MarketBeat.com Staff

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Avis Budget Group (CAR) Financials

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