Explain this page
Arphra AIPlain-English read on Avis Budget Group, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | $2.86B | $4.52B | — | — | — |
| Enterprise value | — | — | — | $28.37B | $35.17B | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 2.41 | 3.02 | — | — | — |
| EV / FCF | — | — | — | -4.33 | -2.94 | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | -63.63% | -19.68% | — | — | — |
| Free cash flow yield | — | — | — | -228.68% | -265.18% | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +36.39% | +39.76% | +32.70% | +25.43% | +24.42% | +27.75% | +28.20% | +26.80% |
| Operating margin | +22.42% | +27.37% | +19.59% | +12.72% | +10.99% | +14.17% | +14.59% | +14.66% |
| EBITDA margin | +50.84% | +59.59% | +53.57% | +22.68% | +45.06% | +41.49% | +40.23% | +41.15% |
| EBIT margin | +24.21% | +36.15% | +24.84% | -11.32% | +10.99% | +8.22% | +8.38% | +8.32% |
| Pre-tax margin | +18.34% | +30.32% | +15.94% | -22.28% | -7.97% | -4.79% | -4.90% | -4.75% |
| Net margin | +13.80% | +23.04% | +13.59% | -15.45% | -7.63% | -3.19% | -3.15% | -3.17% |
| Cost structure | ||||||||
| Cost of revenue / sales | +63.61% | +60.24% | +67.30% | +74.57% | +75.58% | +73.64% | +74.24% | +73.91% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +12.29% | +11.24% | +11.73% | +11.43% | +12.39% | +11.91% | +11.97% | +11.53% |
| Effective tax rate | +24.88% | +24.20% | +14.58% | — | — | — | — | — |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | -614.83% | -394.86% | -475.80% | +78.59% | +29.10% | +19.88% | +18.90% | +19.30% |
| Return on assets (ROA) | +5.69% | +10.66% | +4.88% | -6.08% | -2.76% | -1.17% | -1.18% | -1.21% |
| Return on capital (ROC) | +11.87% | +16.24% | +9.01% | +6.32% | +4.56% | +6.57% | +6.70% | +6.58% |
| Return on invested capital (ROIC) | +7.30% | +13.67% | +6.25% | +4.74% | +3.42% | +4.93% | +5.02% | +4.94% |
| Asset turnover | +41.21% | +46.26% | +35.93% | +39.36% | +36.19% | +36.53% | +37.32% | +38.13% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +13.80% | +23.04% | +13.59% | -15.45% | -7.63% | -3.19% | -3.15% | -3.17% |
| Asset turnover (× revenue / assets) | +41.21% | +46.26% | +35.93% | +39.36% | +36.19% | +36.53% | +37.32% | +38.13% |
| Equity multiplier (× assets / equity) | -10813.40% | -3703.86% | -9743.15% | -1292.75% | -1053.81% | -1704.55% | -1606.34% | -1597.74% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 0.41 | 0.46 | 0.36 | 0.39 | 0.36 | 0.37 | 0.37 | 0.38 |
| Fixed-asset turnover | 0.60 | 0.64 | 0.50 | 0.57 | 2.92 | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — |
| Receivables turnover | 9.19 | 12.60 | 11.00 | 11.50 | 10.37 | — | — | — |
| Payables turnover | 14.56 | 15.50 | 16.59 | 19.54 | 19.44 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 39.70 | 28.97 | 33.19 | 31.74 | 35.21 | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 25.08 | 23.54 | 22.00 | 18.68 | 18.77 | — | — | — |
| Cash conversion cycle | 14.63 | 5.43 | 11.20 | 13.05 | 16.44 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 2.72 | 1.70 | 2.35 | -1.93 | -3.71 | -9.65 | -9.47 | -9.55 |
| FCF / Net income | -2.02 | 0.21 | -7.13 | 3.59 | 13.47 | 26.80 | 27.04 | 26.82 |
| FCF margin | -27.85% | +4.80% | -96.85% | -55.51% | -102.80% | -85.57% | -85.23% | -84.93% |
| OCF margin | +37.49% | +39.24% | +31.88% | +29.84% | +28.29% | +30.80% | +29.85% | +30.23% |
| CapEx / Revenue | +65.34% | +34.44% | +128.73% | +85.35% | +131.08% | +116.74% | +113.67% | +111.98% |
| CapEx / D&A | 2.45 | 1.47 | 4.48 | 2.51 | 3.85 | — | — | — |
| Stock-based comp / Revenue | +0.32% | +0.21% | +0.25% | +0.16% | 0.00% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 19.44 | 57.11 | 42.06 | -51.23 | -25.26 | 4.68 | 8.42 | 9.57 |
| EPS · basic | 19.80 | 58.44 | 42.61 | -51.23 | -25.26 | 4.67 | 8.37 | 9.54 |
| Book value / share | -3.16 | -14.46 | -8.84 | -65.27 | -86.79 | -54.13 | -57.20 | -58.12 |
| Tangible BV / share | -30.88 | -50.33 | -54.43 | -112.37 | -135.60 | -54.13 | -57.20 | -58.12 |
| Sales / share | 140.89 | 247.81 | 309.48 | 332.08 | 331.02 | 337.06 | 342.96 | 354.09 |
| Operating CF / share | 52.81 | 97.25 | 98.66 | 99.10 | 93.64 | 103.80 | 102.39 | 107.05 |
| Free cash flow / share | -39.24 | 11.90 | -299.74 | -184.34 | -340.28 | -288.41 | -292.29 | -300.74 |
| Dividends / share | 0.00 | 0.00 | 9.15 | 0.00 | 0.00 | 3.36 | 3.32 | 3.38 |
| Payout ratio | 0.00% | 0.00% | +21.75% | 0.00% | 0.00% | -31.21% | -30.70% | -30.18% |
| Retention ratio | +100.00% | +100.00% | +78.25% | +100.00% | +100.00% | +131.21% | +130.70% | +130.18% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +28.79% | +0.12% | -1.82% | -1.16% | +2.42% | +1.85% | +3.24% | +4.35% |
| Gross profit · YoY | — | +40.72% | -17.66% | -23.66% | -5.10% | +16.39% | +3.52% | -1.90% | -0.11% |
| Profit | |||||||||
| Operating income · YoY | — | +57.23% | -28.36% | -36.27% | -14.54% | +32.05% | +4.81% | +3.77% | -1.79% |
| EBITDA · YoY | — | +50.94% | -9.99% | -58.43% | +96.34% | -5.68% | -1.25% | +5.60% | +1.25% |
| Net income · YoY | — | +115.10% | -40.96% | -211.58% | +51.18% | +57.14% | -0.56% | -3.73% | — |
| Operating | |||||||||
| EBIT · YoY | — | +92.28% | -31.20% | -144.75% | +195.96% | -23.46% | +3.91% | +2.53% | -10.41% |
| R&D · YoY | — | — | — | — | — | — | — | — | — |
| Per-share | |||||||||
| EPS · diluted · YoY | — | +193.78% | -26.35% | -221.80% | +50.69% | +118.54% | +79.78% | +13.67% | -9.63% |
| EPS · basic · YoY | — | +195.15% | -27.09% | -220.23% | +50.69% | +118.50% | +79.06% | +14.04% | -9.90% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $17.81B | $20.92B | $26.45B | $26.04B | $31.17B | $27.65B | $28.51B | $30.02B |
| Net debt | $17.27B | $20.35B | $25.89B | $25.5B | $30.65B | $27.1B | $27.96B | $29.44B |
| Net debt / EBITDA | 3.65 | 2.85 | 4.03 | 9.54 | 5.84 | 5.47 | 5.72 | 5.70 |
| Debt / equity | -85.19 | -29.88 | -77.12 | -11.24 | -10.20 | -14.42 | -14.06 | -14.57 |
| Debt / assets | +78.78% | +80.68% | +79.16% | +86.94% | +96.82% | +84.61% | +87.54% | +91.21% |
| Equity / assets | -0.92% | -2.70% | -1.03% | -7.74% | -9.49% | -5.87% | -6.23% | -6.26% |
| Coverage | ||||||||
| EBITDA / interest expense | 21.72 | 28.59 | 21.73 | 7.47 | 3.75 | 7.30 | 6.88 | 7.09 |
| Operating income / interest | 9.58 | 13.13 | 7.95 | 4.19 | 0.91 | 2.49 | 2.49 | 2.53 |
| Interest expense | $218M | $250M | $296M | $358M | $1.4B | $678.05M | $710.85M | $727.79M |
| Liquidity | ||||||||
| Current ratio | 0.77 | 0.73 | 0.80 | 0.75 | 0.72 | — | — | — |
| Quick ratio | 0.64 | 0.59 | 0.62 | 0.57 | 0.57 | — | — | — |
| Cash ratio | 0.22 | 0.22 | 0.21 | 0.20 | 0.18 | — | — | — |
| Working capital | -$561M | -$688M | -$520M | -$686M | -$796M | — | — | — |
| Working capital / revenue | -6.02% | -5.74% | -4.33% | -5.82% | -6.83% | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 3.02x | 2.41x |
| Earnings yield | -19.7% | -63.6% |
| FCF yield | -265.2% | -228.7% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 28.4% | 78.3% |
| ROA | -2.8% | -6.1% |
| ROIC | 4.3% | 3.7% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 5.84 | 9.54 |
| Interest coverage | — | — |
| Current ratio | 0.72x | 0.75x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).