Avis Budget Group, Inc.
- Open
- 153.23
- Day high
- 162.99
- Day low
- 153.23
- Prev close
- 156.35
- Volume
- 279K
- Mkt cap
- $5.7B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -1.7
- P/S
- 0.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.8B over the last 3 months (0 open-market buys, 86 sales)
- 🏛Institutions mixed (13F)
Avis Budget Group, Inc. (CAR) is a Industrials company listed on NASDAQ. The stock is down 17% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 86 sales (SEC Form 4).
Avis Budget Group, Inc. (CAR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CAR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $-6.82 | $-8.01 | -17.4% | $2.5B | +4.2% |
| Feb 18, 2026 | $-0.29 | $-6.53 | -2151.7% | $2.7B | +8.1% |
| Jul 29, 2025 | $2.02 | $0.10 | -95.0% | $3.0B | -12.2% |
| Oct 31, 2024 | $8.18 | $6.65 | -18.7% | $3.5B | +27.7% |
| May 1, 2024 | $-3.15 | $-3.21 | -1.9% | $2.6B | +5.7% |
| Feb 12, 2024 | $4.15 | $7.10 | +71.1% | $2.8B | -1.5% |
| Nov 1, 2023 | $14.16 | $16.78 | +18.5% | $3.6B | -0.7% |
| May 1, 2023 | $3.07 | $7.72 | +151.5% | $2.8B | -12.7% |
| Feb 13, 2023 | $6.79 | $10.46 | +54.1% | $2.8B | +3.7% |
| Oct 31, 2022 | $14.64 | $21.70 | +48.2% | $3.5B | +0.3% |
| Aug 1, 2022 | $11.48 | $15.94 | +38.9% | $3.2B | +2.2% |
| May 2, 2022 | $3.45 | $9.99 | +189.6% | $2.4B | +12.6% |
CAR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 30, 2026 | Linnen Edward Pofficer: EVP, Chief HR Officer | Sell | 7,083 | $182.05 |
| Apr 30, 2026 | Linnen Edward Pofficer: EVP, Chief HR Officer | Sell | 2,400 | $183.10 |
| Apr 30, 2026 | Simhambhatla Raviofficer: EVP, CDIO - see remarks | Sell | 3,469 | $184.09 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 99,419 | $290.38 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 6 | $400.00 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 869 | $257.31 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 29,406 | $250.61 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 6,689 | $702.24 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 62,790 | $588.35 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 253 | $620.79 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 46,767 | $257.31 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 137,058 | $264.60 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 17,241 | $290.38 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 80,964 | $588.35 |
| Apr 28, 2026 | Pentwater Capital Management LP10 percent owner | Sell | 200 | $310.00 |
Source: CAR SEC Form 4 filings, latest Apr 30, 2026. For informational purposes only — not investment advice.
See the full CAR insider & 13F page →Avis Budget Group, Inc. company profile
Overview
Avis Budget Group, Inc. (NASDAQ:CAR) is a leading vehicle rental company founded in 1946 and headquartered in Parsippany, New Jersey. The company operates through multiple well-known brands including Avis, Budget, Budget Truck, and Zipcar, providing car and truck rentals, car sharing, and mobility solutions across approximately 10,400 locations worldwide. Originally known as Cendant Corporation, the company changed its name to Avis Budget Group in September 2006 following corporate restructuring. Today, it serves both commercial and leisure customers through its extensive network of company-operated and dealer-operated locations.
Business
Avis Budget Group operates in the vehicle rental and mobility services industry, which provides temporary access to vehicles for travelers, businesses, and consumers who need transportation without the commitment of ownership. The company's business is organized around several key brands and segments: Americas Segment (approximately 80% of revenue): This segment includes the flagship Avis brand, which targets premium commercial and leisure segments with higher-end vehicles and service levels. The Budget brand focuses on cost-conscious consumers seeking basic rental services. Budget Truck operates local and one-way truck and cargo van rentals through approximately 850 locations, serving consumer and light commercial moving needs with a fleet of about 20,000 vehicles. International Segment (approximately 20% of revenue): This segment operates various brands including Budget, Payless, Apex, Maggiore, MoriniRent, FranceCars, Amicoblue, Turiscar, and ACL Hire across international markets, primarily in Europe and other regions outside North America. Zipcar: A car-sharing service that allows members to rent vehicles by the hour or day through a membership-based model, primarily serving urban markets where car ownership is less practical. The vehicle rental industry serves multiple customer segments including leisure travelers at airports, business travelers, insurance replacement customers whose vehicles are being repaired, and local renters who need temporary transportation. The industry is highly seasonal, with peak demand during summer months and holidays when leisure travel increases.
Revenue model
Avis Budget Group generates revenue primarily through vehicle rental fees charged to customers on a daily basis, supplemented by various ancillary services and products. The company's revenue model includes several components: Core Rental Revenue: Daily rental rates vary based on vehicle class, location, seasonality, and demand. Premium locations like airports typically command higher rates due to convenience and business travel demand. The company employs dynamic pricing strategies to optimize revenue based on supply and demand conditions. Ancillary Revenue: The company offers numerous add-on services including optional insurance products (supplemental liability, personal accident, personal effects protection), fuel service options, roadside assistance, electronic toll collection, GPS navigation units, child safety seats, and tablet rentals. These high-margin services significantly enhance profitability per rental. Fleet Disposition: A critical component of the business model involves purchasing vehicles from manufacturers and selling them in the used car market after 12-18 months of rental service. Vehicle depreciation and disposition gains/losses significantly impact profitability. Factors that increase margins include strong travel demand (particularly leisure travel), tight industry fleet capacity, favorable used car market conditions, lower vehicle acquisition costs, and successful upselling of ancillary services. Conversely, margins face pressure from weak travel demand, oversupply of rental vehicles in the market, unfavorable used car depreciation, rising vehicle costs from manufacturers, increased competition, and economic downturns that reduce both business and leisure travel.
Competitive moat
Avis Budget Group operates in a moderately competitive industry with limited but meaningful barriers to entry. The company's competitive advantages include its extensive global network of approximately 10,400 locations, which provides convenience and brand recognition that smaller competitors cannot easily replicate. Airport concession agreements represent a significant moat, as these prime locations require substantial capital investments and long-term contracts that create barriers for new entrants. The company's scale advantages in vehicle procurement allow for better pricing negotiations with manufacturers and more efficient fleet management across diverse markets. Brand recognition, particularly with the Avis and Budget names, provides customer loyalty and pricing power in premium segments. However, the industry faces several competitive threats. Ride-sharing services like Uber and Lyft have reduced demand for short-term rentals, particularly in urban markets. Car-sharing services and emerging mobility solutions continue to evolve as alternatives to traditional rentals. The industry also faces potential disruption from autonomous vehicles in the long term, which could fundamentally alter transportation patterns. The rental car industry is highly cyclical and capital-intensive, with companies needing to continuously invest in fleet renewal and technology. While established players have advantages, the industry's commodity-like nature means that pricing power is often limited during periods of oversupply or economic weakness.
Risks & safety
The company presents significant financial risks with limited margin of safety: • Solvency Risk: Total liabilities of $11.9 billion exceed total assets of $9.8 billion, creating negative book value of approximately $2 billion • High Leverage: Debt-to-equity ratio of -3.02 indicates extreme leverage relative to negative equity position • Liquidity Concerns: Current ratio of 0.64 shows current liabilities exceed current assets; however, $516 million in cash provides near-term liquidity • Operational Cash Flow: Positive operating cash flow of $619 million in Q1 2025 demonstrates ability to generate cash from operations • Valuation Metrics: Negative P/E ratio due to losses; EV/EBITDA of -5.1x reflects negative EBITDA • Fleet-Heavy Business Model: Large vehicle fleet creates significant depreciation risk and capital intensity • Cyclical Industry: Highly sensitive to economic cycles, travel patterns, and used car market conditions
Recent development
Over the past few years, Avis Budget Group has undergone significant strategic transformation focused on fleet optimization and operational efficiency. The company implemented an accelerated fleet rotation strategy beginning in 2024 to address the challenge of high-cost vehicles purchased during the pandemic when vehicle prices were elevated. This involved selling record numbers of older, high-cost vehicles and replacing them with more affordable 2025 model year vehicles closer to pre-pandemic pricing levels. Technology investments have been a key priority, including the launch of a new mobile app in October 2024 with enhanced customer features and on-demand assistance capabilities. The company has developed proprietary fleet management technologies and implemented demand-based pricing systems internationally. Self-service kiosks have been deployed across European locations to improve operational efficiency. The company has also focused on revenue optimization by prioritizing higher-margin business segments and implementing sophisticated analytics to reduce vehicle lifecycle costs by over 10%. Leadership transition occurred with Joe Ferraro stepping down as CEO in June 2024, replaced by Brian Choi, while Jagdeep Pahwa became Executive Chairman. Electric vehicle infrastructure development represents a longer-term strategic initiative, with partnerships established for charging infrastructure and a measured approach to EV fleet integration. The company has maintained focus on capital discipline while navigating challenging market conditions including elevated fleet costs and varying demand patterns across commercial and leisure segments.
CAR company profile · for informational purposes only — not investment advice.
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