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Operates the Avis and Budget car rental brands for leisure and business travelers worldwide.
Operates the Avis and Budget car rental brands for leisure and business travelers worldwide.
Rents cars at airport and local counters and earns the difference between rental charges and what it costs to own the fleet, with fleet depreciation and financing the largest costs. It buys vehicles from automakers, finances them with debt backed by the cars, and sells them used after a short holding period, so used-car prices matter.
Moat: narrow (brand, scale, distribution). Established brands and airport counter locations, but rental car is a capital-intensive, cyclical, competitive business.
Headquarters: Parsippany, New Jersey, US · Founded: 1946 · Employees: 25,000
Size Avis Budget (CAR) is a United States Financials company (Finance/Rental/Leasing) with a market value of $4.20B, the 1318th largest of 3,117 United States companies the cockpit tracks. Shares closed at $118.83 on 6 Nov 2026.
Performance Over six months the shares fell 18.5%, against -11.5% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue fell 0.6% over the last twelve months (peer median +12.2%); the operating margin is 10.9% (peer median 30.4%).
Credit Avis Budget has 6 bonds outstanding ($4.04B), rated B by the agencies and trading like B at a weighted spread of 390 bp.
Short interest Short interest is 13.0% of the free float (15 Oct 2026).
Next results Next results expected around 15 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $11.6B | $11.7B | $11.8B | $12.0B | $12.0B |
| Revenue growth | — | -1% | -2% | 0% | — |
| Gross profit | $2.82B | $2.85B | $3.00B | $3.93B | $4.77B |
| EBITDA | $5.21B | $5.25B | $5.51B | $5.80B | $6.09B |
| Net income | -$812M | -$889M | -$1.82B | $1.63B | $2.76B |
| Free cash flow | -$11.0B | -$12.0B | -$6.54B | -$11.6B | -$6.03B |
| Capital expenditure | $13.7B | $15.3B | $10.1B | $15.5B | $10.7B |
| Total debt | $28.3B | $28.6B | $26.0B | $26.5B | $20.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Avis Budget CAR | $4.20B | -18% | -1% | n/a | n/a | n/a |
| Hertz Global HTZ | $585M | -64% | +3% | n/a | n/a | n/a |
| Sixt SIX2.DE | $3.67B | +4% | +7% | 15% | 1.67× | 15.8% |
| U-Haul UHAL | $9.87B | +7% | +3% | 0% | 1.45× | 13.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CAR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.0% | 0.0% | 5th highest of 21 |
| 6-month return | -18.5% | -11.5% | 7th lowest of 21 |
| Bond spread | 390 bp | 254 bp | 3rd widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Avis Budget CAR | United States | $4.20B | -18% | -1% | n/a | n/a | n/a | n/a |
| Enova International ENVA | United States | $4.22B | -1% | +20% | 27% | 2.72× | 26.6% | 26.8% |
| Mahindra & Mahindra Financial Services M&MFIN.NS | India | $4.12B | -15% | +15% | 14% | 1.41× | 23.7% | 13.8% |
| Blue Owl Technology Finance OTF | United States | $4.36B | -13% | +95% | 5% | 0.58× | 4.9% | 4.8% |
| ACOM 8572.T | Japan | $4.38B | -12% | +7% | 9% | 0.96× | 5.6% | 9.3% |
| Poonawalla Fincorp POONAWALLA.NS | India | $4.42B | +4% | +77% | 9% | 3.02× | 47.4% | 9.2% |
| GMO Payment Gateway 3769.T | Japan | $3.98B | +6% | +13% | 22% | 5.02× | 32.4% | 21.5% |
| Bohai Leasing 000415.SZ | China | $4.44B | +2% | -7% | 18% | 0.90× | 6.3% | 17.8% |
| Bread Financial BFH | United States | $3.87B | +17% | +2% | 16% | 1.13× | 12.2% | 15.9% |
| Nelnet NNI | United States | $4.67B | +7% | -7% | 8% | 1.24× | 10.1% | 8.1% |
| HDB Financial Services HDBFS.NS | India | $4.71B | -24% | +11% | 14% | 2.01× | 30.2% | 14.3% |
| Sixt SIX2.DE | Germany | $3.67B | +4% | +7% | 15% | 1.67× | 15.8% | 15.0% |
| Credit Saison 8253.T | Japan | $3.62B | -10% | +10% | 9% | 0.73× | 6.3% | 9.2% |
| Sundaram Finance SUNDARMFIN.NS | India | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% | 14.4% |
| Herc HRI | United States | $5.08B | +14% | +19% | 6% | 2.56× | 33.3% | 6.3% |
| Figure Technology Solutions FIGR | United States | $5.10B | -40% | +66% | 26% | 3.58× | 26.5% | 26.2% |
| Far East Horizon 3360.HK | Hong Kong | $3.44B | -25% | +1% | 8% | 0.45× | 4.5% | 7.6% |
| WillScot WSC | United States | $3.42B | -33% | -3% | -7% | 3.75× | 35.8% | -7.1% |
| PennyMac Financial Services PFSI | United States | $3.41B | -28% | +4% | 6% | 0.78× | 10.2% | 5.6% |
| Housing & Urban Development HUDCO.NS | India | $3.39B | -30% | +22% | 22% | 1.39× | 31.5% | 21.7% |
| Indian Renewable Energy Development Agency IREDA.NS | India | $3.31B | -18% | +17% | 14% | 2.18× | 42.4% | 14.4% |
Avis Budget has 6 bonds outstanding with $4.04B face value. The agencies rate it B; its bonds trade like B. Weighted yield 7.97%, a spread of 390 bp over government bonds.