Avis Budget Group (CAR) FY2020 results: revenue $5.4 billion, down 41.1% on the year
Avis Budget Group, Inc. (CAR) reported revenue of $5.4 billion for fiscal 2020, the year ended 31 December 2020, down 41.1% on the year before. Net income was -$684 million, and diluted earnings per share $-9.71. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$5.4 billion
-41.1% on the year
FY2016FY2020
Operating margin
-17.7%
3.1% a year earlier
FY2016FY2020
Net income
-$684 million
FY2016FY2020
Diluted EPS
-$9.71
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,402
9,172
9,124
-41.1%
Selling, general and administrative
703
1,237
1,220
-43.2%
Operating income
-956
287
267
Operating margin
-17.7%
3.1%
2.9%
Interest expense
231
178
188
+29.8%
Pre-tax income
-956
287
267
Income tax
-272
-15.0
102
Effective tax rate
n/a
-5.2%
38.2%
Net income
-684
302
165
Net margin
-12.7%
3.3%
1.8%
Diluted EPS
-$9.71
$3.98
$2.06
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
691
2,586
2,609
-73.3%
Cash from investing
3,177
-2,752
-3,426
Cash from financing
-4,045
318
667
Share-based compensation
9.0
22.0
24.0
-59.1%
Buybacks
119
67.0
216
+77.6%
Diluted shares, weighted
70m
76m
80m
-6.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-155
656
414
Non-controlling interest
0.0
n/a
n/a
Debt
11,067
14,503
3,551
-23.7%
Operating lease liabilities
2,078
2,140
0.0
-2.9%
Other liabilities
4,548
5,827
15,184
-21.9%
Total liabilities and equity
17,538
23,126
19,149
-24.2%
Fixed assets
657
792
736
-17.0%
Goodwill
1,137
1,101
1,092
+3.3%
Intangible assets
774
798
825
-3.0%
Cash and equivalents
692
686
615
+0.9%
Receivables
647
911
955
-29.0%
Other assets
13,631
18,838
14,926
-27.6%
Total assets
17,538
23,126
19,149
-24.2%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.