Avis Budget Group (CAR) FY2021 results: revenue $9.3 billion, up 72.4% on the year
Avis Budget Group, Inc. (CAR) reported revenue of $9.3 billion for fiscal 2021, the year ended 31 December 2021, up 72.4% on the year before. Net income was $1.3 billion, and diluted earnings per share $19.44. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2022.
Revenue
$9.3 billion
+72.4% on the year
FY2016FY2021
Operating margin
18.3%
-17.7% a year earlier
FY2016FY2021
Net income
$1.3 billion
FY2016FY2021
Diluted EPS
$19.44
FY2016FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
3,491
691
2,586
+405.2%
Cash from investing
-6,306
3,177
-2,752
Cash from financing
2,687
-4,045
318
Share-based compensation
30.0
9.0
22.0
+233.3%
Buybacks
1,460
119
67.0
+1,126.9%
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
66m
70m
76m
-6.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
-220
-155
656
Non-controlling interest
11.0
0.0
n/a
Debt
15,399
11,067
14,503
+39.1%
Operating lease liabilities
1,910
2,078
2,140
-8.1%
Other liabilities
5,500
4,548
5,827
+20.9%
Total liabilities and equity
22,600
17,538
23,126
+28.9%
Fixed assets
537
657
792
-18.3%
Goodwill
1,108
1,137
1,101
-2.6%
Intangible assets
724
774
798
-6.5%
Cash and equivalents
534
692
686
-22.8%
Receivables
775
647
911
+19.8%
Other assets
18,922
13,631
18,838
+38.8%
Total assets
22,600
17,538
23,126
+28.9%
10-K for the year ended 31 December 2021, filed 17 February 2022: the filing.