Avis Budget Group (CAR) FY2022 results: revenue $12.0 billion, up 28.8% on the year
Avis Budget Group, Inc. (CAR) reported revenue of $12.0 billion for fiscal 2022, the year ended 31 December 2022, up 28.8% on the year before. Net income was $2.8 billion, up 115.1%, and diluted earnings per share $57.16. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2023.
Revenue
$12.0 billion
+28.8% on the year
FY2016FY2022
Operating margin
30.3%
18.3% a year earlier
FY2016FY2022
Net income
$2.8 billion
+115.1% on the year
FY2016FY2022
Diluted EPS
$57.16
+194.0% on the year
FY2016FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
4,707
3,491
691
+34.8%
Cash from investing
-4,299
-6,306
3,177
Cash from financing
-360
2,687
-4,045
Share-based compensation
25.0
30.0
9.0
-16.7%
Buybacks
3,329
1,460
119
+128.0%
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
48m
66m
70m
-26.8%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
-703
-220
-155
Non-controlling interest
3.0
11.0
0.0
-72.7%
Debt
18,480
15,399
11,067
+20.0%
Operating lease liabilities
1,884
1,910
2,078
-1.4%
Other liabilities
6,263
5,500
4,548
+13.9%
Total liabilities and equity
25,927
22,600
17,538
+14.7%
Fixed assets
594
537
657
+10.6%
Goodwill
1,070
1,108
1,137
-3.4%
Intangible assets
666
724
774
-8.0%
Cash and equivalents
570
534
692
+6.7%
Receivables
810
775
647
+4.5%
Other assets
22,217
18,922
13,631
+17.4%
Total assets
25,927
22,600
17,538
+14.7%
10-K for the year ended 31 December 2022, filed 16 February 2023: the filing.