CUCA Balance Sheet - Avis Budget Group Inc

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Price: 111.35 EUR -2.41%

Market Cap: €4B

Financial profile · Q3 FY2026

Fleet-intensive rental economics combine seasonal margins, volatile earnings, and vehicle-backed funding

Revenue recovered from the pandemic shock and then stabilized, while operating profitability came down from its peak and net income remained sensitive to fleet charges, vehicle-sale results, and financing costs. Continual fleet investment and vehicle-program financing make cash generation distinct from reported earnings.

What is developing

The latest quarter remained profitable at the operating and common-income levels, but both were lower year over year; trailing-twelve-month common income remained negative. The trailing free-cash-flow deficit widened even as the quarterly deficit narrowed, a cash-conversion development within the established fleet-intensive model.

What matters next

Whether trailing free cash flow improves as operating cash generation catches up with fleet spending.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	490m	611m	615m	686m	692m	534m	570m	555m	534m	519m
Cash Equivalents	490m	611m	615m	686m	692m	534m	570m	555m	534m	519m
Total Receivables	808m	922m	955m	911m	647m	775m	810m	900m	841m	884m
Accounts Receivables	808m	922m	955m	911m	647m	775m	810m	900m	838m	878m
Other Receivables	0	0	0	0	0	0	0	0	3m	6m
Other Current Assets	519m	533m	604m	548m	456m	538m	506m	684m	659m	690m
Total Current Assets	1.8B	2.1B	2.2B	2.1B	1.8B	1.8B	1.9B	2.1B	2B	2.1B
PP&E Net	11.1B	11.3B	12.2B	15.6B	11.4B	15.8B	19B	24.7B	21.4B	22.7B
PP&E Gross	11.1B	11.3B	12.2B	15.6B	11.4B	15.8B	19B	24.7B	21.4B	22.7B
Accumulated Depreciation	(2.5B)	(2.8B)	(2.9B)	(2.9B)	(2.8B)	(3.5B)	(3.7B)	(4.2B)	(4.8B)	(4.6B)
Intangible Assets	870m	850m	825m	798m	774m	724m	666m	670m	601m	589m
Goodwill	1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B
Note Receivable	527m	547m	631m	778m	281m	222m	421m	326m	313m	498m
Long-Term Investments	362m	423m	559m	649m	667m	842m	976m	1.3B	1.4B	1.8B
Other Long-Term Assets	1.9B	1.4B	1.7B	2.1B	1.5B	2.1B	1.9B	2.3B	2.1B	2.4B
Other Assets	1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B
Total Assets	17.6B	17.7B	19.1B	23.1B	17.5B	22.6B	25.9B	32.6B	29B	31.3B
Accounts Payable	343m	359m	371m	378m	394m	407m	466m	487m	450m	453m
Accrued Liabilities	379m	614m	691m	1.1B	968m	1.2B	1.3B	1.3B	1.5B	1.7B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	279m	26m	23m	19m	19m	19m	27m	32m	20m	24m
Other Current Liabilities	766m	646m	631m	740m	672m	762m	807m	849m	753m	746m
Deferred Revenue	114m	135m	140m	125m	—	185m	188m	168m	149m	155m
Total Current Liabilities	1.8B	1.6B	1.7B	2.2B	2.1B	2.4B	2.6B	2.7B	2.7B	2.9B
Long-Term Debt	12.1B	12.8B	13.8B	14.5B	11B	15.4B	18.5B	23.7B	22.9B	25.2B
Deferred Income Tax	2.4B	1.6B	2B	2.2B	1.4B	2.2B	2.8B	3.4B	2.4B	2.7B
Minority Interest	—	—	—	—	—	11m	3m	6m	10m	87m
Other Liabilities	1.1B	1.1B	1.3B	3.6B	3.2B	2.8B	2.8B	3.1B	3.3B	3.5B
Total Liabilities	17.4B	17.1B	18.7B	22.5B	17.7B	22.8B	26.6B	32.9B	31.4B	34.4B
Common Stock	1m	1m	1m	1m	1m	1m	1m	1m	1m	1m
Retained Earnings	(1.6B)	(1.2B)	(1.1B)	(785m)	(1.5B)	(185m)	2.6B	3.9B	2B	1.1B
Additional Paid In Capital	6.9B	6.8B	6.8B	6.7B	6.7B	6.7B	6.7B	6.6B	6.6B	6.6B
Unrealized Security Profit/Loss	1m	2m	0	0	0	—	—	—	—	—
Treasury Stock	(4.9B)	(5B)	(5.1B)	(5.1B)	(5.2B)	(6.6B)	(9.8B)	(10.7B)	(10.8B)	(10.8B)
Other Equity	(155m)	(26m)	(133m)	(157m)	(187m)	(133m)	(101m)	(96m)	(210m)	(138m)
Total Equity	221m	573m	414m	656m	(155m)	(220m)	(703m)	(349m)	(2.3B)	(3.1B)
Total Liabilities & Equity	17.6B	17.7B	19.1B	23.1B	17.5B	22.6B	25.9B	32.6B	29B	31.3B
Common Shares Outstanding	86m	81m	76m	74m	70m	56m	39m	35m	35m	35m