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Avis Budget Group is a provider of car and truck rentals, car sharing, and ancillary services to businesses and consumers. It operates the Avis brand, a vehicle rental system that supplies rental cars to the premium commercial and leisure segments of the travel industry; the Budget Truck brand, a local and one-way truck rental business; and the Zipcar brand, a car sharing network. The company also operates other car rental brands, such as Payless, Apex, Maggiore, Morini Rent, FranceCars, and Turiscar. In addition, it offers optional insurance products and coverages, such as supplemental liability, personal accident, personal effects protection, emergency sickness protection, and cargo insurance products; fuel service options, chauffeur drive services, roadside assistance services, electronic toll collection services, curbside delivery, tablet rentals, access to satellite radio, portable navigation units, and child safety seat rentals; automobile towing equipment and other moving accessories, such as hand trucks, furniture pads, and moving supplies; and Business Intelligence solution, an online portal for corporate travel.
TypePublic
Founded1946
HQParsippany-Troy Hills, NJ, US
Websiteavisbudgetgroup.com
Employee Ratings3.5
Overall CultureD-

Latest Updates

Employees (est.) (Dec 2020)20,000(-5%)
Job Openings2,155
Revenue (FY, 2020)$5.4 B(-41%)
Share Price (Jun 2021)$91.6(-2%)
Cybersecurity ratingBMore

Key People/Management at Avis Budget Group

Joe Ferraro

Joe Ferraro

President and Chief Executive Officer
Keith Rankin

Keith Rankin

President, International
Tracey Zhen

Tracey Zhen

President, Zipcar
Izzy Martins

Izzy Martins

Executive Vice President, Americas
Brian Choi

Brian Choi

Chief Financial Officer
Inderpal S. Lall

Inderpal S. Lall

Legal Director, International
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Avis Budget Group Office Locations

Avis Budget Group has offices in Parsippany-Troy Hills, Tulsa and Bracknell
Parsippany-Troy Hills, NJ, US (HQ)
6 Sylvan Way, Parsippany
Tulsa, OK, US
Tulsa, OK
Bracknell, GB
Park Rd
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Avis Budget Group Financials and Metrics

Avis Budget Group Revenue

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Avis Budget Group's revenue was reported to be $5.4 b in FY, 2020 which is a 41.1% decrease from the previous period.
USD

Revenue (Q1, 2021)

1.4b

Gross profit (Q1, 2021)

1.1b

Gross profit margin (Q1, 2021), %

81.5%

Net income (Q1, 2021)

(170.0m)

Market capitalization (14-Jun-2021)

6.4b

Closing stock price (14-Jun-2021)

91.6

Cash (31-Mar-2021)

576.0m

EV

19.9b
Avis Budget Group's current market capitalization is $6.4 b.
Annual
USDFY, 2018FY, 2019FY, 2020

Revenue

9.1b9.2b5.4b

Revenue growth, %

3%1%(41%)

Cost of goods sold

2.2b2.1b1.4b

Gross profit

6.9b7.1b4.0b
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

1.9b2.3b2.8b1.8b760.0m1.5b1.4b

Cost of goods sold

485.0m543.0m551.0m459.0m374.0m256.0m254.0m

Gross profit

1.4b1.8b2.2b1.3b386.0m1.3b1.1b

Gross profit Margin, %

75%77%80%74%51%83%81%
Annual
USDFY, 2018FY, 2019FY, 2020

Cash

615.0m686.0m692.0m

Accounts Receivable

955.0m911.0m647.0m

Current Assets

2.2b2.1b1.8b

PP&E

736.0m792.0m657.0m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Cash

540.0m534.0m615.0m679.0m1.3b1.6b576.0m

Accounts Receivable

915.0m920.0m872.0m712.0m537.0m601.0m786.0m

Current Assets

2.1b2.3b2.1b1.9b2.2b2.6b1.9b

PP&E

737.0m749.0m752.0m767.0m729.0m692.0m611.0m
Annual
USDFY, 2018FY, 2019FY, 2020

Net Income

165.0m302.0m(684.0m)

Depreciation and Amortization

2.2b3.1b2.6b

Accounts Payable

48.0m84.0m(181.0m)

Cash From Operating Activities

2.6b2.6b691.0m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Net Income

(91.0m)(29.0m)160.0m(158.0m)(639.0m)(594.0m)(170.0m)

Depreciation and Amortization

718.0m1.6b2.4b714.0m1.3b2.0b563.0m

Accounts Payable

97.0m72.0m41.0m(96.0m)(98.0m)(59.0m)181.0m

Cash From Operating Activities

440.0m965.0m1.9b370.0m350.0m632.0m336.0m
USDFY, 2018

EV/CFO

5.7 x

Revenue/Employee

430.4k

Debt/Equity

33.3 x

Debt/Assets

0.7 x

Financial Leverage

46.3 x

P/E Ratio

10.9
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Avis Budget Group Operating Metrics

FY, 2018Q1, 2019Q2, 2019Q3, 2019FY, 2019Q1, 2020Q2, 2020Q3, 2020FY, 2020Q1, 2021

Car Rental Locations

11 k11 k10.6 k

Locations (Avis Brand)

5.5 k5.4 k5.3 k

Transactions

40 m41 m22 m

Vehicle Fleet

650 k650 k650 k650 k660 k660 k660 k660 k533 k533 k
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Avis Budget Group Acquisitions / Subsidiaries

Company NameDateDeal Size
France CarsDecember 20, 2016
MaggioreApril 09, 2015$160 m
Payless Car RentalJune 15, 2013
ZipcarMarch 14, 2013$500 m
Apex Car RentalsSeptember 05, 2012
Avis Europe PlcOctober 03, 2011
Orbitz WorldwideSeptember 01, 2004$1.3 b
2233516 Ontario, Inc.
AAA France Cars SAS
AB Canada Holdings III Limited Partnership
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Avis Budget Group Revenue Breakdown

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Avis Budget Group revenue breakdown by business segment: 35.3% from Budget Brand, 54.8% from Avis Brand and 9.9% from Other

Avis Budget Group revenue breakdown by geographic segment: 5.7% from Asia and Australasia, 20.9% from Europe, Middle East and Africa and 73.4% from Americas

Human Capital Metrics

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Avis Budget Group Cybersecurity Score

Cybersecurity ratingPremium dataset

B

88/100

SecurityScorecard logo

Avis Budget Group Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

CSRHub logo

Avis Budget Group Online and Social Media Presence

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Avis Budget Group Company Culture

  • Overall Culture

    D-

    54/100

  • CEO Rating

    D

    58/100

  • Compensation

    F

    40/100

  • Diversity

    D

    55/100

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Avis Budget Group News and Updates

$ 66.62 Billion growth expected in Car Rental Market during 2021-2025: Avis Budget Group Inc., Carzonrent India Pvt. Ltd., and Enterprise Holdings Inc. to Emerge as Major Vendors | Technavio

NEW YORK, May 7, 2021 /PRNewswire/ -- The car rental market is expected to grow by USD 66.62 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the car rental market in optimistic, probable, and pessimistic...

Time To Sell Avis Budget Group Stock?

Avis budget group, a car rental industry company, saw its stock rise by 257% since the end of 2018 compared to the S&P500 which has increased by 69% in the same period.

Avis Budget Group to Announce First Quarter 2021 Results on May 3rd

Conference Call to Discuss Results Scheduled for May 4th, 2021 Conference Call to Discuss Results Scheduled for May 4th, 2021

Avis Budget Group Announces Pricing of $500 Million of Senior Notes

PARSIPPANY, N.J., March 09, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”) priced an offering of $500 million aggregate principal …

Avis Budget Group to offer $350 million of high-yield bonds due 2028

Avis Budget Group Inc. said Tuesday it's planning to offer $350 million of high-yield bonds that mature in 2028 in a private offering. The car rental company said proceeds of the deal will be used along with cash on hand to redeem all of the outstanding 6.375% senior notes due 2024. Shares were not…

Avis Budget Group Announces Intention to Offer $600 Million of Senior Notes

PARSIPPANY, N.J., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), intend, subject to market and other customary condition…
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Avis Budget Group Blogs

Avis Budget Group Capitalizes on Continued Economic Recovery

PARSIPPANY, N.J., May 3, 2021 – Avis Budget Group, Inc. (NASDAQ: CAR) today announced. first quarter 2021 financial results. Despite revenue being down 22% for the first quarter compared to prior year, and net loss of $170 million, we achieved Adjusted EBITDA of $47 million in the first quarter thro…

Avis Budget Group Reports Positive Earnings and Removes an Additional $1 Billion of Expenses in Third Quarter

PARSIPPANY, N.J., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. ( NASDAQ: CAR ) today announced third quarter 2020 financial results, with Net income of $45 million and Adjusted net income of $79 million. Despite revenue being down 44% compared to the same period in the prior year, we

Avis Budget Group To Announce Third Quarter 2020 Results On October 29th

Conference Call to Discuss Results Scheduled for October 30th, 2020 PARSIPPANY, N.J., October 13th, 2020 — Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its third quarter 2020 results after the market close on Thursday, October 29th, 2020, and to host a conference cal…

Avis Budget Group to Announce Third Quarter 2020 Results on October 29th

Conference Call to Discuss Results Scheduled for October 30th, 2020 PARSIPPANY, N.J., Oct. 13, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) announced today that it plans to report its third quarter 2020 results after the market close on Thursday, October 29th, 2020, and to host a

Avis Budget Group Announces Chief Financial Officer Transition

PARSIPPANY, N.J., Aug. 13, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) today announced that John F. North III will transition from Chief Financial Officer to pursue other interests. Brian Choi will assume the role of Chief Financial Officer on August 24, 2020.

Avis Budget Group Announces Pricing of $350 Million of Senior Notes

PARSIPPANY, N.J., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) announced today that its wholly-owned subsidiaries, Avis Budget Car Rental, LLC and Avis Budget Finance, Inc. (together, the “Issuers”), priced an offering of $350 million aggregate principal
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Avis Budget Group Frequently Asked Questions

  • When was Avis Budget Group founded?

    Avis Budget Group was founded in 1946.

  • Who are Avis Budget Group key executives?

    Avis Budget Group's key executives are Joe Ferraro, Keith Rankin and Tracey Zhen.

  • How many employees does Avis Budget Group have?

    Avis Budget Group has 20,000 employees.

  • What is Avis Budget Group revenue?

    Latest Avis Budget Group annual revenue is $5.4 b.

  • What is Avis Budget Group revenue per employee?

    Latest Avis Budget Group revenue per employee is $270.1 k.

  • Who are Avis Budget Group competitors?

    Competitors of Avis Budget Group include Fox Rent A Car, Europcar and Sixt SE.

  • Where is Avis Budget Group headquarters?

    Avis Budget Group headquarters is located at 6 Sylvan Way, Parsippany, Parsippany-Troy Hills.

  • Where are Avis Budget Group offices?

    Avis Budget Group has offices in Parsippany-Troy Hills, Tulsa and Bracknell.

  • How many offices does Avis Budget Group have?

    Avis Budget Group has 3 offices.