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Avis Budget Group

Logo: Avis Budget Group, Public domain, via Wikimedia Commons⁵

Holding company of several car rental brands

Avis Budget Group, Inc. is an American car rental agency holding company headquartered in Parsippany, New Jersey.³ From Wikipedia, CC BY-SA 4.0

$109.95 up 3.23 (3.03%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

2006Founded¹

Compare with Ryder, Hertz Car Sales or U-Haul Holding Company, or pick any stock.

TickerCAR on Nasdaq¹
Industrycar rental company¹
HeadquartersParsippany-Troy Hills¹
Websiteavisbudgetgroup.com
Legal formDelaware corporation¹
Incorporated inDE⁶
Business address379 Interpace Parkway, Parsippany, Nj 07054⁶
Filer categoryLarge accelerated filer⁶

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Avis Budget Group, Inc. is an American car rental agency holding company headquartered in Parsippany, New Jersey. It is one of the three big rental car holding companies in the United States. In 2021, it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings. It is the parent company of several brands including Avis Car Rental, Budget Rent a Car, Budget Truck Rental, Payless Car Rental, and Zipcar.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-7.6%Net margin⁹

-1.2%Revenue growth, 2025⁹

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Americas brought in 76% of the revenue Avis Budget Group broke down this way in fiscal 2025.

Americas$8.9B⁹76%down 2% from 2024
International$2.8B⁹24%up 3% from 2024

Business segments by year

Business segments	2023	2024	2025
Americas	$9.3B	$9.1B	$8.9B
International	$2.7B	$2.7B	$2.8B

Regions

Americas brought in 38% of the revenue Avis Budget Group broke down this way in fiscal 2025.

Americas$8.9B⁹38%down 2% from 2024
United States$8.4B⁹36%down 2% from 2024
Rest of the world$3.3B⁹14%up 2% from 2024
EMEA$2.1B⁹9%up 4% from 2024
Asia and Australasia$635.0M⁹3%up 0% from 2024

Regions by year

Regions	2023	2024	2025
Americas	$9.3B	$9.1B	$8.9B
United States	$8.8B	$8.6B	$8.4B
Rest of the world	$3.2B	$3.2B	$3.3B
EMEA	$2.0B	$2.0B	$2.1B
Asia and Australasia	$647.0M	$633.0M	$635.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Selling, general and adminOther costs

Selling, general and admin12¢$1.4B
Other costs87¢$10.1B
Income tax1¢$66.0M

Out of $11.7B in revenue.⁹ The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

Kept or used elsewhere

Share buybacks0¢$7.0M
Kept or used elsewhere100¢$3.3B

Out of $3.3B of cash from operations.⁹

Financial statements

Revenue¹⁰¹¹¹²¹³⁹$11.7B in 2025+27% since 2019

Net income¹⁰¹¹¹²¹³⁹-$889.0M in 2025

Every line of the income statement in the latest annual report, as filed.⁹

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenues	$11.7B	$11.8B	$12.0B
Operating	$5.9B	$6.0B	$5.7B
Vehicle depreciation and lease charges, net	$3.0B	$3.0B	$1.7B
Selling, general and administrative	$1.4B	$1.4B	$1.4B
Vehicle interest, net	$918.0M	$941.0M	$736.0M
Non-vehicle related depreciation and amortization	$231.0M	$237.0M	$216.0M
Interest expense	$422.0M	$358.0M	$296.0M
Early extinguishment of debt	$6.0M	$19.0M	$5.0M
Long-lived asset impairment and other related charges	$518.0M	$2.5B	$0
Restructuring and other related charges	$131.0M	$37.0M	$11.0M
Transaction-related costs, net	$18.0M	$3.0M	$5.0M
Other (income) expense, net	$18.0M	$9.0M	$3.0M
Total expenses	$12.6B	$14.4B	$10.1B
Income (loss) before income taxes	-$929.0M	-$2.6B	$1.9B
Provision for (benefit from) income taxes	$66.0M	-$810.0M	$279.0M
Net income (loss)	-$995.0M	-$1.8B	$1.6B
Less: Net income (loss) attributable to non-controlling interests	-$106.0M	$4.0M	$3.0M
Net income (loss) attributable to Avis Budget Group, Inc.	-$889.0M	-$1.8B	$1.6B
Basic (in USD per share)	-$25.25	-$51.23	$42.57
Diluted (in USD per share)	-$25.25	-$51.23	$42.08

Total assets¹⁷¹⁰¹¹¹²¹³⁹$31.3B in 2025+35% since 2019

Shareholders’ equity¹¹¹⁰¹²¹³⁹-$3.1B in 2025

Cash¹⁷¹⁰¹¹¹²¹³⁹$519.0M in 2025−24% since 2019

Long-term debt¹⁷¹⁰¹¹¹²¹³⁹$6.0B in 2025+77% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁹

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$519.0M	$534.0M
Receivables (net of allowance for doubtful accounts of $78 and $96, respectively)	$878.0M	$838.0M
Other current assets	$696.0M	$662.0M
Total current assets	$2.1B	$2.0B
Property and equipment, net	$748.0M	$697.0M
Operating lease right-of-use assets	$3.2B	$3.1B
Deferred income taxes	$2.1B	$1.8B
Goodwill	$1.1B	$1.1B	$1.1B
Other intangibles, net	$589.0M	$601.0M
Other non-current assets	$403.0M	$422.0M
Total assets exclusive of assets under vehicle programs	$10.3B	$9.7B
Program cash	$94.0M	$60.0M
Vehicles, net	$18.7B	$17.6B
Receivables from vehicle manufacturers and other	$540.0M	$386.0M
Investment in Avis Budget Rental Car Funding (AESOP) LLCrelated party	$1.6B	$1.3B
Total assets under vehicle programs	$21.0B	$19.4B	$23.0B
Total assets	$31.3B	$29.0B
Accounts payable and other current liabilities	$2.9B	$2.7B
Short-term debt and current portion of long-term debt	$24.0M	$20.0M
Total current liabilities	$2.9B	$2.7B
Long-term debt	$6.0B	$5.4B
Long-term operating lease liabilities	$2.6B	$2.5B
Other non-current liabilities	$495.0M	$470.0M
Total liabilities exclusive of liabilities under vehicle programs	$12.0B	$11.0B
Debt	$4.8B	$3.5B
Debt due to Avis Budget Rental Car Funding (AESOP) LLCrelated party	$14.4B	$14.1B
Deferred income taxes	$2.7B	$2.4B
Other	$387.0M	$333.0M
Total Liabilities under vehicle programs	$22.3B	$20.3B
Redeemable non-controlling interests	$74.0M	$0
Preferred stock, $0.01 par valueauthorized 10 shares; none issued and outstanding, in each period	$0	$0
Common stock, $0.01 par valueauthorized 250 shares; issued 137 shares, in each period	$1.0M	$1.0M
Additional paid-in capital	$6.6B	$6.6B
Retained earnings	$1.1B	$2.0B
Accumulated other comprehensive loss	-$138.0M	-$210.0M
Treasury stock, at cost102 shares, in each period	-$10.8B	-$10.8B
Stockholders equity attributable to Avis Budget Group, Inc.	-$3.1B	-$2.3B
Non-controlling interests	$13.0M	$10.0M
Total stockholders equity	-$3.1B	-$2.3B	-$343.0M
Total liabilities, redeemable non-controlling interests and stockholders equity	$31.3B	$29.0B
Receivable	$78.0M	$96.0M
Preferred stock (in dollars per share)	$0.01	$0.01
Preferred stock authorized (in shares)	10.0M shares	10.0M shares
Preferred stock issued (in shares)	0 shares	0 shares
Preferred stock outstanding (in shares)	0 shares	0 shares
Common stock (in dollars per share)	$0.01	$0.01
Common stock authorized (in shares)	250.0M shares	250.0M shares
Common stock issued (in shares)	137.0M shares	137.0M shares
Treasury stock (in shares)	102.0M shares	102.0M shares

Cash from operations¹⁰¹¹¹²¹³⁹$3.3B in 2025+27% since 2019

Dividends paid¹²¹³⁹$0 in 2025

Share buybacks¹⁰¹¹¹²¹³⁹$7.0M in 2025−90% since 2019

Every line of the cash flow in the latest annual report, as filed.⁹

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	-$995.0M	-$1.8B	$1.6B
Vehicle depreciation	$2.7B	$2.7B	$2.2B
Amortization of right-of-use assets	$1.1B	$1.1B	$1.0B
(Gain) loss on sale of vehicles, net	$238.0M	$167.0M	-$656.0M
Vehicle related reserves	$351.0M	$496.0M	$348.0M
Non-vehicle related depreciation and amortization	$231.0M	$237.0M	$216.0M
Amortization of debt financing fees	$52.0M	$46.0M	$40.0M
Early extinguishment of debt costs	$6.0M	$21.0M	$5.0M
Long-lived asset impairment and other related charges	$518.0M	$2.5B	$0
Deferred income taxes	-$24.0M	-$905.0M	$191.0M
Stock-based compensation	$19.0M	$19.0M	$30.0M
Receivables	$60.0M	$51.0M	-$43.0M
Income taxes	-$31.0M	$45.0M	-$81.0M
Accounts payable and other current liabilities	$110.0M	$63.0M	-$72.0M
Operating lease liabilities	-$1.1B	-$1.1B	-$1.0B
Other, net	$105.0M	-$50.0M	-$17.0M
Net cash provided by operating activities	$3.3B	$3.5B	$3.8B
Property and equipment additions	-$218.0M	-$202.0M	-$273.0M
Proceeds received on asset sales	$2.0M	$3.0M	$3.0M
Net assets acquired (net of cash acquired)	$0	-$3.0M	-$65.0M
Other, net	-$9.0M	$12.0M	$6.0M
Net cash used in investing activities exclusive of vehicle programs	-$225.0M	-$190.0M	-$329.0M
Investment in vehicles	-$15.1B	-$9.9B	-$15.2B
Proceeds received on disposition of vehicles	$10.4B	$7.4B	$8.4B
Investment in debt securities of Avis Budget Rental Car Funding (AESOP) LLC related party	-$1.1B	-$798.0M	-$541.0M
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC related party	$783.0M	$701.0M	$306.0M
Vehicle programs	-$4.9B	-$2.6B	-$7.0B
Net cash used in investing activities	-$5.2B	-$2.8B	-$7.3B
Proceeds from borrowings (original maturities greater than three months)	$1.6B	$1.6B	$936.0M
Payments on borrowings (original maturities greater than three months)	-$1.1B	-$939.0M	-$818.0M
Debt financing fees	-$17.0M	-$28.0M	-$22.0M
Repurchases of common stock	-$7.0M	-$70.0M	-$951.0M
Contributions from non-controlling interests	$183.0M	$0	$0
Dividends paid	$0	$0	-$355.0M
Net cash provided by (used in) financing activities exclusive of vehicle programs	$628.0M	$532.0M	-$1.2B
Proceeds from borrowings	$26.0B	$21.3B	$24.0B
Payments on borrowings	-$24.7B	-$22.6B	-$19.2B
Debt financing fees	-$29.0M	-$44.0M	-$44.0M
Net cash provided by financing activities of vehicle programs	$1.2B	-$1.3B	$4.7B
Net cash provided by (used in) financing activities	$1.9B	-$781.0M	$3.5B
Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash	$31.0M	-$31.0M	$14.0M
Net increase (decrease) in cash and cash equivalents, program and restricted cash	$21.0M	-$47.0M	$2.0M
Interest payments	$1.3B	$1.3B	$988.0M
Income tax payments, net of refunds	$121.0M	$50.0M	$169.0M

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The story

Founded by Henry Silverman in 2006.¹

Following the decision to dissolve the Cendant company name and split into four separate companies, the vehicle rental division of Cendant became Avis Budget Group in 2006.

In 2011, Avis Budget Group acquired Avis Europe, an independently owned company licensee, globally reuniting the Avis and Budget brands.

On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand.

On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about US$500 million in cash.

On April 9, 2015, Avis Budget Group announced it had completed the acquisition of Maggiore Group, Italy's fourth-largest vehicle rental company.

During 2018 Avis along with 90 additional Fortune 500 companies "paid an effective federal tax rate of 0% or less" as a result of Donald Trump´s Tax Cuts and Jobs Act of 2017.

The company's stock value rose dramatically due to increased demand for car rentals during the COVID-19 pandemic and it became a meme stock in November 2021, with shares at one point doubling in a single day. In 2021, it held a 26% market share, placing it behind both the Hertz Global Holdings and Enterprise Holdings. Despite rising revenues, the value of the stock began to decline in 2024 due to rising federal interest rates and declining values for used cars.

From Wikipedia’s article on Avis Budget Group, shared under CC BY-SA 4.0.⁷

Leadership

Who has led Avis Budget Group, and when. Pick a name to see everywhere that person has worked.

FounderHenry Silverman¹

Products and brands

car rental company

Listed on Wikidata.¹

Avis Budget Group is the parent company of several brands including Avis Car Rental, Budget Rent a Car, Budget Truck Rental, Payless Car Rental, and Zipcar. It also operates several smaller, regional brands including ACL Hire, Apex Car Rentals, AmicoBlu, France Cars, Maggiore Group, MoriniRent, TurisCar and TurisPrime. As of 2018, the company had over 600,000 cars in its fleet.

From Wikipedia’s article on Avis Budget Group, shared under CC BY-SA 4.0.⁷

Subsidiaries and ownership

Subsidiaries

AVIS
Apex Car Rentals
Zipcar

Also owns

Budget Rent a Car
Budget Truck Rental
Payless Car Rental

From Wikidata.¹

Former names

CENDANT CORPDec 23, 1997 to Aug 30, 2006⁶
CUC INTERNATIONAL INC /DE/Feb 9, 1995 to Dec 17, 1997⁶

Timeline

2006Founded Founded¹

Recent filings

Oct 6, 20268-K
Sep 24, 20268-K
Sep 1, 20268-K
Aug 11, 20264
Aug 7, 2026144
Jul 29, 202610-Q
Jul 28, 20264
Jul 28, 20268-K
Jul 27, 20264
Jul 1, 20268-K
Jun 23, 20263 OWNERSHIP DOCUMENT
Jun 22, 20268-K
Jun 12, 20268-K
Jun 1, 20268-K
May 29, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataAvis Budget Group on Wikidata
2
SEC EDGARAvis Budget Group filings on SEC EDGAR
3
WikipediaAvis Budget Group on Wikipedia
4
Yahoo FinanceCAR quote
5
Wikimedia CommonsAvis Budget Group logo by Avis Budget Group, Public domain
6
SEC EDGARAvis Budget Group filings on SEC EDGAR
7
WikipediaAvis Budget Group on Wikipedia (revision used)
8
Wikimedia CommonsAvis Budget Group photo by Raysonho @ Open Grid Scheduler / Grid Engine, CC0
9
SEC EDGARAvis Budget Group 10-K for fiscal 2025
10
SEC EDGARAvis Budget Group 10-K for fiscal 2019
11
SEC EDGARAvis Budget Group 10-K for fiscal 2020
12
SEC EDGARAvis Budget Group 10-K for fiscal 2021
13
SEC EDGARAvis Budget Group 10-K for fiscal 2022
14
SEC EDGARAvis Budget Group 10-Q for fiscal 2025
15
SEC EDGARAvis Budget Group 10-Q for fiscal 2025
16
SEC EDGARAvis Budget Group 10-Q for fiscal 2026
17
SEC EDGARAvis Budget Group 10-K for fiscal 2019