Avis Budget Group, Inc. (CAR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2201.6%

-$2,343.65

vs $111.52 price

Levered DCF

-$4,029.45

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.61

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-5.08×	-1.57×	4.16×	2.81×	10.47×	-3.85×	8.02×	10.81×
P/B	-1.44×	-1.23×	-19.45×	-11.03×	-61.17×	-16.97×	3.7×	4.31×
P/S	0.39×	0.24×	0.57×	0.65×	1.45×	0.49×	0.26×	0.2×
EV / EBITDA	7.92×	10.61×	5.08×	3.93×	6.49×	7.17×	4.76×	4.99×
Gross margin	24.4%	25.4%	32.7%	39.8%	36.4%	11.0%	24.6%	24.5%
Operating margin	11.0%	12.7%	19.6%	27.4%	22.4%	-5.5%	8.4%	8.4%
Net margin	-7.6%	-15.4%	13.6%	23.0%	13.8%	-12.7%	3.3%	1.8%
Current ratio	0.72×	0.75×	0.8×	0.73×	0.77×	0.87×	0.96×	1.27×
Debt / equity	-9.96×	-11.19×	-75.8×	-29.76×	-80.93×	-88.12×	26.1×	33.29×
Interest coverage	0.91×	4.19×	7.95×	13.13×	9.58×	-0.52×	1.45×	4.07×
Dividend yield	0.0%	0.0%	5.2%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	21.8%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	28.4%	78.3%	-467.6%	-393.2%	-584.1%	441.3%	46.0%	39.9%
Return on invested capital	4.3%	3.7%	6.4%	10.4%	7.6%	-1.3%	3.5%	2.7%
Return on assets	-2.8%	-6.1%	4.9%	10.7%	5.7%	-3.9%	1.3%	0.9%
Free cash flow yield	-265.2%	-228.7%	-171.3%	7.4%	-19.3%	150.2%	-3.8%	-31.6%
Earnings yield	-19.7%	-63.6%	24.0%	35.6%	9.5%	-26.0%	12.5%	9.3%
Enterprise value	$35.2B	$28.4B	$32.7B	$28.1B	$30.7B	$15.6B	$18.9B	$14.9B
Net debt / EBITDA	6.9×	9.54×	4.03×	2.85×	3.65×	5.96×	4.15×	4.4×
Cash conversion cycle (days)	16	13	11	5	15	24	23	26