Avis Budget Group, Inc. (CAR) Balance Sheet

NASDAQ: CARAssets, liabilities, debt and equity over 10 years.

CAR balance sheet, 2025

December 31, 2025 · U.S. dollars

$32.19B assets = $35.24B liabilities + −$3.04B equity

Liabilities exceed assets: shareholders’ equity is negative (−$3.04B).

Both columns are drawn to the same scale: what CAR owns equals what it owes plus shareholders’ equity. Hover a block for its value.

CAR financial health

Current ratio0.72

Tight · current assets cover current liabilities 0.72×

Equity / assets−9.7%

Thin equity · of assets funded by shareholders

Cash / debt1.7%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles5.3%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

CAR balance sheet trends, 2016–2025

Avis Budget Group, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$17.79B2016	$32.19B2025	+6.8%/yr
Total liabilities	$17.57B2016	$35.24B2025	+8.0%/yr
Shareholders’ equity	$221.0M2016	−$3.13B2025	—
Cash & short-term investments	$490.0M2016	$519.0M2025	+0.6%/yr
Total debt	$12.40B2016	$31.17B2025	+10.8%/yr
Net cash (debt)	−$11.91B2016	−$30.65B2025	−$18.7B
Working capital	$50.0M2016	−$796.0M2025	−$846.0M
Book value per share	$2.372016	−$88.892025	—
Current ratio	1.032016	0.722025	−0.30
Debt / equity	56.112016	26.102019	−30.01
Shares outstanding	93.3M2016	35.2M2025	−10.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CAR assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

CAR liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

CAR debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

CAR balance sheet

Avis Budget Group, Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$519.0M	$537.0M	$559.0M	$572.0M	$537.0M	$693.0M	$689.0M	$620.0M	$618.0M	$490.0M
Cash & equivalents	$519.0M	$537.0M	$559.0M	$572.0M	$537.0M	$693.0M	$689.0M	$620.0M	$618.0M	$490.0M
Short-term investments	—	$821.0M	—	—	—	—	—	—	$7.0M	$0
Receivables	$1.12B	$1.02B	$1.09B	$952.0M	$1.01B	$794.0M	$1.08B	$1.14B	$1.10B	$961.0M
Inventory	$0	$0	$0	$252.0M	$205.0M	$161.0M	$234.0M	$241.0M	$196.0M	$212.0M
Other current assets	$450.0M	$472.0M	$488.0M	$110.0M	$92.0M	$147.0M	$138.0M	$178.0M	$156.0M	$154.0M
Total current assets	$2.09B	$2.03B	$2.14B	$1.89B	$1.85B	$1.79B	$2.15B	$2.17B	$2.07B	$1.82B
Property, plant & equipment (net)	$3.99B	$20.78B	$23.88B	$18.64B	$15.61B	$11.09B	$15.23B	$11.61B	$10.70B	$10.17B
Goodwill & intangible assets	$1.72B	$1.67B	$1.77B	$1.74B	$1.83B	$1.91B	$1.90B	$1.92B	$1.92B	$1.88B
Long-term investments	$1.73B	$1.41B	$1.30B	$1.40B	$1.06B	$948.0M	$778.0M	$631.0M	$547.0M	$527.0M
Other non-current assets	$22.67B	$4.06B	$4.33B	$2.27B	$2.25B	$1.79B	$3.88B	$2.90B	$2.60B	$3.40B
Total assets	$32.19B	$29.95B	$33.42B	$25.93B	$22.60B	$17.54B	$23.93B	$19.23B	$17.84B	$17.79B
Liabilities
Accounts payable	$453.0M	$450.0M	$487.0M	$466.0M	$407.0M	$394.0M	$378.0M	$371.0M	$359.0M	$343.0M
Short-term debt	$704.0M	$648.0M	$608.0M	$582.0M	$515.0M	$533.0M	$498.0M	$23.0M	$26.0M	$279.0M
Deferred revenue	—	$149.0M	$168.0M	$188.0M	$185.0M	$464.0M	$125.0M	$140.0M	$135.0M	$114.0M
Total current liabilities	$2.89B	$2.72B	$2.66B	$2.57B	$2.41B	$2.05B	$2.23B	$1.72B	$1.65B	$1.77B
Long-term debt	$25.24B	$22.91B	$23.73B	$4.64B	$3.99B	$4.19B	$3.42B	$3.53B	$3.57B	$3.24B
Lease obligations	$3.29B	$3.11B	$2.69B	$2.44B	$2.41B	$2.59B	$2.62B	—	—	—
Other long-term liabilities	$7.11B	$6.64B	$7.38B	$19.41B	$16.41B	$11.45B	$17.63B	$13.58B	$12.05B	$12.56B
Total liabilities	$35.24B	$32.27B	$33.76B	$26.63B	$22.81B	$17.69B	$23.27B	$18.82B	$17.27B	$17.57B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$6.82B	$6.92B
Retained earnings (deficit)	$1.14B	$2.03B	$3.85B	$2.58B	−$185.0M	−$1.47B	−$785.0M	−$1.09B	−$1.22B	−$1.64B
Treasury stock	—	—	—	—	−$6.58B	−$5.17B	−$5.14B	−$5.13B	−$5.00B	−$4.91B
Accumulated other comprehensive income	−$138.0M	−$210.0M	−$96.0M	−$101.0M	−$133.0M	−$187.0M	−$157.0M	−$133.0M	−$24.0M	−$154.0M
Minority interest	$87.0M	$10.0M	$6.0M	$3.0M	$11.0M	—	—	—	$0	$0
Total shareholders' equity	−$3.13B	−$2.33B	−$349.0M	−$703.0M	−$220.0M	−$155.0M	$656.0M	$414.0M	$573.0M	$221.0M
Key figures
Total debt	$31.17B	$26.04B	$26.45B	$20.92B	$17.80B	$13.66B	$17.12B	$13.78B	$12.82B	$12.40B
Net cash (debt)	−$30.65B	−$25.50B	−$25.89B	−$20.35B	−$17.27B	−$12.97B	−$16.43B	−$13.16B	−$12.20B	−$11.91B
Working capital	−$796.0M	−$686.0M	−$520.0M	−$688.0M	−$561.0M	−$258.0M	−$80.0M	$458.0M	$421.0M	$50.0M
Tangible book value	−$4.85B	−$4.00B	−$2.12B	−$2.44B	−$2.05B	−$2.07B	−$1.24B	−$1.50B	−$1.35B	−$1.66B
Book value per share	−$88.89	−$65.55	−$8.99	−$14.52	−$3.33	−$2.20	$8.67	$5.17	$6.76	$2.37
Shares outstanding	35.2M	35.5M	38.8M	48.4M	66.1M	70.5M	75.7M	80.1M	84.8M	93.3M
Current ratio	0.72	0.75	0.80	0.73	0.77	0.87	0.96	1.27	1.26	1.03
Quick ratio	0.57	0.57	0.62	0.59	0.64	0.72	0.80	1.02	1.04	0.82
Debt / equity	—	—	—	—	—	—	26.10	33.29	22.37	56.11
Equity / assets	−9.7%	−7.8%	−1.0%	−2.7%	−1.0%	−0.9%	2.7%	2.2%	3.2%	1.2%

Avis Budget Group, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$558.0M	$528.0M	$524.0M	$568.0M	$546.0M	$520.0M	$537.0M	$605.0M	$515.0M	$526.0M	$559.0M	$575.0M
Cash & equivalents	$558.0M	$528.0M	$524.0M	$568.0M	$546.0M	$520.0M	$537.0M	$605.0M	$515.0M	$526.0M	$559.0M	$575.0M
Receivables	$1.40B	$1.14B	$1.12B	$1.20B	$1.40B	$1.11B	$1.02B	$1.21B	$1.44B	$1.25B	$1.09B	$1.19B
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$0	$312.0M	$0	$0
Other current assets	$548.0M	$508.0M	$445.0M	$463.0M	$508.0M	$510.0M	$472.0M	$505.0M	$506.0M	$242.0M	$488.0M	$457.0M
Total current assets	$2.51B	$2.18B	$2.09B	$2.23B	$2.46B	$2.14B	$2.03B	$2.32B	$2.46B	$2.33B	$2.14B	$2.23B
Property, plant & equipment (net)	$23.34B	$21.65B	$22.27B	$23.12B	$24.12B	$21.07B	$20.78B	$24.34B	$25.50B	$24.96B	$23.88B	$23.99B
Goodwill & intangible assets	$1.73B	$1.74B	$1.72B	$1.72B	$1.74B	$1.69B	$1.67B	$1.76B	$1.74B	$1.75B	$1.77B	$1.74B
Long-term investments	$1.59B	$1.55B	$1.73B	$1.57B	$1.53B	$1.40B	$1.41B	$1.39B	$1.30B	$1.30B	$1.30B	$1.26B
Other non-current assets	$3.16B	$3.48B	$4.38B	$3.87B	$2.53B	$2.74B	$4.06B	$2.95B	$2.89B	$3.19B	$4.33B	$3.09B
Total assets	$32.33B	$30.60B	$32.19B	$32.52B	$32.37B	$29.04B	$29.95B	$32.75B	$33.88B	$33.53B	$33.42B	$32.30B
Liabilities
Accounts payable	$573.0M	$488.0M	$453.0M	$597.0M	$597.0M	$499.0M	$450.0M	$516.0M	$555.0M	$504.0M	$487.0M	$514.0M
Short-term debt	$644.0M	$666.0M	$704.0M	$694.0M	$660.0M	$1.14B	$648.0M	$1.12B	$595.0M	$963.0M	$608.0M	$551.0M
Deferred revenue	$278.0M	$224.0M	$155.0M	$186.0M	$306.0M	$236.0M	$149.0M	$201.0M	$311.0M	$257.0M	$168.0M	$228.0M
Total current liabilities	$3.10B	$2.95B	$2.89B	$3.17B	$3.21B	$3.37B	$2.72B	$3.33B	$2.87B	$3.07B	$2.66B	$2.76B
Long-term debt	$25.85B	$24.41B	$25.24B	$25.28B	$25.95B	$22.67B	$22.91B	$23.36B	$24.77B	$24.22B	$23.73B	$23.39B
Lease obligations	$3.25B	$3.24B	$3.29B	$3.27B	$3.25B	$3.22B	$3.11B	$2.93B	$2.80B	$2.79B	$2.69B	$2.70B
Other long-term liabilities	$6.61B	$6.52B	$7.11B	$6.45B	$5.95B	$5.82B	$6.64B	$6.29B	$6.73B	$6.74B	$7.38B	$6.18B
Total liabilities	$35.55B	$33.88B	$35.24B	$34.89B	$35.10B	$31.86B	$32.27B	$32.98B	$34.36B	$34.04B	$33.76B	$32.33B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Retained earnings (deficit)	$891.0M	$856.0M	$1.14B	$1.89B	$1.53B	$1.52B	$2.03B	$3.99B	$3.75B	$3.74B	$3.85B	$3.95B
Accumulated other comprehensive income	−$149.0M	−$136.0M	−$138.0M	−$153.0M	−$135.0M	−$202.0M	−$210.0M	−$112.0M	−$135.0M	−$140.0M	−$96.0M	−$130.0M
Minority interest	$161.0M	$133.0M	$87.0M	$25.0M	$12.0M	—	—	—	—	—	—	—
Total shareholders' equity	−$3.39B	−$3.42B	−$3.13B	−$2.40B	−$2.75B	−$2.82B	−$2.33B	−$238.0M	−$490.0M	−$515.0M	−$349.0M	−$33.0M
Key figures
Total debt	$29.12B	$27.67B	$31.17B	$28.59B	$29.24B	$26.40B	$26.04B	$26.83B	$27.60B	$27.42B	$26.45B	$26.12B
Net cash (debt)	−$28.57B	−$27.14B	−$30.64B	−$28.03B	−$28.70B	−$25.88B	−$25.50B	−$26.23B	−$27.08B	−$26.89B	−$25.89B	−$25.54B
Working capital	−$589.0M	−$770.0M	−$796.0M	−$930.0M	−$751.0M	−$1.23B	−$686.0M	−$1.01B	−$406.0M	−$741.0M	−$520.0M	−$537.0M
Tangible book value	−$5.12B	−$5.16B	−$4.85B	−$4.12B	−$4.48B	−$4.51B	−$4.00B	−$1.99B	−$2.23B	−$2.26B	−$2.12B	−$1.77B
Book value per share	−$95.98	−$96.74	−$88.89	−$67.58	−$77.54	−$80.17	−$66.11	−$6.67	−$13.73	−$14.47	−$9.59	−$0.88
Shares outstanding	35.3M	35.3M	35.2M	35.5M	35.4M	35.2M	35.2M	35.7M	35.7M	35.6M	36.4M	37.3M
Current ratio	0.81	0.74	0.72	0.71	0.77	0.64	0.75	0.70	0.86	0.76	0.80	0.81
Quick ratio	0.63	0.57	0.57	0.56	0.61	0.48	0.57	0.55	0.68	0.58	0.62	0.64
Equity / assets	−10.5%	−11.2%	−9.7%	−7.4%	−8.5%	−9.7%	−7.8%	−0.7%	−1.4%	−1.5%	−1.0%	−0.1%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.

CAR financial position

At the end of fiscal 2025 (December 31, 2025), Avis Budget had total assets of $32.2 billion (up 7.5% from a year earlier), total liabilities of $35.2 billion and shareholders' equity of -$3.1 billion. It held $519.0 million in cash and short-term investments against $31.2 billion of debt, net debt of $30.6 billion. Its current ratio was 0.72. In the latest quarter (ended June 30, 2026) total assets were $32.3 billion and equity -$3.4 billion.

Related: CAR income statement, CAR cash flow statement, CAR key metrics. See the CAR stock overview for the latest quote and news.

CAR balance sheet FAQ

What are Avis Budget's total assets?

Avis Budget reported total assets of $32.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $30.0 billion a year earlier.

How much debt does Avis Budget have?

Avis Budget had $31.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.

How much cash does Avis Budget have?

Avis Budget held $519.0 million in cash and short-term investments at the end of fiscal 2025; with $31.2 billion of debt that is net debt of $30.6 billion.

What is Avis Budget's book value?

Avis Budget's shareholders' equity (book value) was -$3.1 billion at the end of fiscal 2025, or −$88.89 per share.

What is Avis Budget's current ratio?

Avis Budget had current assets of $2.1 billion and current liabilities of $2.9 billion, a current ratio of 0.72 (current liabilities exceed current assets).

How much goodwill does Avis Budget have?

Avis Budget carried $1.7 billion of goodwill and intangible assets, 5.3% of total assets, at the end of fiscal 2025.