Avis Budget Group, Inc.

Overview

Date Founded

2006

Employees (Worldwide)

30K

Industries

Consumer Finance
Pension Funds & Sovereign Wealth
Real Estate

Company Description

Avis Budget Group, Inc. is a leading global provider of vehicle rental services through its Avis and Budget brands, with 10,000 rental locations in approximately 175 countries around the world. Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 29,000 employees and is headquartered in Parsippany, N.J

Website

http://www.avisbudgetgroup.com

Contact Data

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In The News

Nasdaq

February 19, 2021

What's Driving Avis Budget Group Higher Friday?

Nasdaq

February 17, 2021

Consumer Sector Update for 02/17/2021: NWS,NWSA,GOOG,GOOGL,CAR,GPC,SHOP,SHOP.TO

Nasdaq

February 17, 2021

Avis Budget Group Inc (CAR) Q4 2020 Earnings Call Transcript

Nasdaq

February 17, 2021

Why Avis Budget Group Dropped 10% After Solid Progress

Nasdaq

January 29, 2021

5 High-Flying Stocks Set to Move Higher

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Executives & Employees

Joe Ferraro

President & Chief Executive Officer

Brian Choi

Executive Vice President & Chief Financial Officer

Jean M. Sera

Senior Vice President, General Counsel, Chief Compliance Officer & Corporate Secretary

James E. Buckman

Vice Chairman & General Counsel

Gerard Insall

Executive Vice President & Chief Information Officer

Edward P. Linnen

Executive Vice President & Chief Human Resources Officer

Cathleen DeGenova

Vice President & Chief Accounting Officer

Keith Rankin

President, International

Thomas M. Gartland

President-North America

David Calabria

Treasurer & Senior Vice President of Corporate Finance

Board of Directors

Jagdeep Pahwa

Vice Chairman, Board of Directors at Avis Budget Group, Inc.

Lynn Krominga

President at Meadowcroft Management LLC

Glenn Lurie

Former President & Chief Executive Officer at Synchronoss Technologies, Inc.

Carl Sparks

Senior Advisor at Bain Capital LP

Karthik Ramakrishna Sarma

Managing Partner at SRS Investment Management LLC

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Avis Budget Group, Inc.

Owners & Shareholders

Details Hidden

SRS Investment Management LLC

SRS Investment Management invest in a wide variety of securities and financial instruments, primarily focusing on publicly-traded equity securities through three master feeder structures and one stand-alone domestic fund.

Details Hidden

Nomura Securities Co., Ltd. (Private Banking)

NSC-Private Banking is an active, conservative manager which focuses on long-term capital preservation. They tailor their investment approach to their clients' profile, typically investing in equity and bond funds globally, with a preference for the US market.

Details Hidden

Leucadia Asset Management LLC

LAM offers customized services designed to help clients assess their financial situation and assist in the pursuit of their long-term financial objectives. The firm’s services are designed to be a cooperative experience tailored to client’s personal goals and customized to the complexity of their individual circumstances.

Recent Transactions

Details Hidden

Helloworld Travel Ltd. purchases W.T.H. (sub 1) Pty Ltd. from Avis Budget Group, Inc.

Details Hidden

Avis Budget Group, Inc. purchases Turiscar-Rent a Car SA

Details Hidden

Avis Budget Group, Inc. purchases Morini SpA

Insider Transactions

Details Hidden

Edward P. Linnen

Details Hidden

Glenn Lurie

Details Hidden

Carl Sparks

Transaction Advisors

Accountant

Deloitte Touche Tohmatsu Services LLC

Advised onAvis Budget Group, Inc. purchases Galileo International, Inc.

Legal Advisor

Skadden, Arps, Slate, Meagher & Flom LLP

Advised on purchases Wyndham Destinations, Inc. from Avis Budget Group, Inc.

Investment Advisor

Citigroup, Inc.

Advised onThe Blackstone Group, Inc. purchases Travelport Corporate Solutions, Inc. from Avis Budget Group, Inc.

Legal Advisor

David Fox

Advised onThe Blackstone Group, Inc. purchases Travelport Corporate Solutions, Inc. from Avis Budget Group, Inc.

Legal Advisor

Ashley S. Gregory

Advised onAvis Budget Group, Inc. purchases Avis Budget Emea Ltd. from D'Ieteren SA/NV

Legal Advisor

Daniel E. Wolf

Advised onAvis Budget Group, Inc. purchases Avis Budget Emea Ltd. from D'Ieteren SA/NV

Advisors & Consultants

Pension Consultant

Global Portfolio Strategies, Inc.

Global Portfolio Strategies, Inc., a subsidiary of Prudential Financial, Inc., is an American company located in Hartford, CT. The firm provides investment advice.

Advisor

John F. North III

Chief Financial Officer & Senior Vice President at Copart, Inc.

Consultant

Ronald L. Nelson

Former Chief Executive Officer, President & Chief Operating Officer at Avis Budget Group, Inc.

Consultant

Thomas M. Gartland

Former President-North America at Avis Budget Group, Inc.

Clients

Sirius XM Holdings, Inc.

Sirius XM Holdings, Inc. is a radio company. The company offers music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services. Its brand channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation, and SiriusXM Marine. The company was founded on May 17, 1990 and is headquartered in New York, NY.

InterGlobe Aviation Ltd.

InterGlobe Aviation Ltd. engages in air transportation services. The company activities include the transportation of passengers, cargo, and mail on regularly scheduled flights and the provision of car rental, airport lounge, visa information, and insurance services. The company was founded by Rahul Bhatia and Rakesh Gangwal on January 13, 2004 and is headquartered in Gurgaon, India.

Barloworld Ltd.

Barloworld Ltd. is a holding company, which engages in the provision of integrated rental, fleet management, product support, and logistics solutions. It operates through the following segments: Equipment; Automotive and Logistics; and Corporate. The company was founded in 1902 and is headquartered in Sandton, South Africa.

Key Stats and Financials As of 2019

Market Capitalization

$2.98B

Total Enterprise Value

$18.9B

Earnings Per Share

$3.99

Revenue

$9.17B

Net Profit

$302M

EBITDA

$3.91B

EBITDAMargin

42.61%

Total Debt

$17.1B

Total Equity

$656M

Enterprise Value / Sales

2.06x

Enterprise Value EBITDAOperating

4.16x

TEVNet Income

62.5x

Debt TEV

0.91x

Three Year Compounded Annual Growth Rate Of Revenue

1.94%

Five Year Compounded Annual Growth Rate Of Revenue

1.57%

Non-Profit Donations & Grants

$5,000 - $15K

2018

Operation Homefront, Inc.

$5,000 - $10K

2018

Beta Gamma Sigma

$1,000 - $4,999

2018

Interfaith Food Pantry

Investments

Details Hidden

Carey International, Inc.

Carey International, Inc. engages in the provision of chauffeured vehicle services. Its services include airport limousine services, hourly charters, special occasions, road show and tours and sightseeing. The company was founded by J. P. Carey in 1921 and is headquartered in Frederick, MD.

Details Hidden

Otonomo Technologies Ltd.

Otonomo Technologies Ltd. provides cloud based services. It offers a cloud-based software as a solution for the connected car ecosystem. The company was founded by Ben Volkow and Avner Cohen in 2015 and is headquartered in Herzliya, Israel.

Details Hidden

Passkey International, Inc.

Passkey International, Inc. provides web based solutions for managing group hotel reservations. product, GroupMAX, is the only Software as a Service ('SaaS') solution that is deployed to power reservations for all sizes of meetings across a wide range of event settings including Convention & Visitor Bureaus (CVBs), corporations, travel management companies, brand hotels, independent hotels, and casinos. The company was founded in 1996 and is headquartered in Tyson's Corner, VA.

Investors

Details Hidden

Rory John Stirling

Investor at Onus Inc.

Details Hidden

Ned Hazen

Investor at Zipcar, Inc.

Suppliers

I.D. Systems, Inc. Appliances & Electronics | Woodcliff Lake, NJ

I.D. Systems, Inc. engages in the development, marketing, and sale of wireless machine to machine solutions for managing and securing enterprise assets. Its business activities focus on the following primary applications: industrial fleet management, transportation asset management, and rental fleet management. The company was founded by Kenneth S. Ehrman and Martin G. Rosansky in August 1993 and is headquartered in Woodcliff Lake, NJ.

Tata Consultancy Services Limited Other Business & Consulting Services | Mumbai, India

Tata Consultancy Services Ltd. is an IT services, business solutions and outsourcing organization. The firm offers consulting-led, integrated portfolio of IT and IT-enabled services which includes application development and maintenance, business intelligence, enterprise solutions, assurance services, engineering and industrial services, infrastructure services, consulting, asset leveraged Solutions and business process services. It operates through the following segments: Banking, Financial Services, & Insurance; Manufacturing; Retail & Consumer Business; Communication, Media, & Technology; and Others. The company was founded in April 1968 and is headquartered in Mumbai, India.

MindTree Ltd. IT Consulting & Services | Bangalore, India

Mindtree Ltd. provides digital transformation and technology services. It operates through four segments: Retail, CPG & Manufacturing; Travel & Hospitality; Banking, Financial Services & Insurance; and High Technology & Media. The company offers various solutions, including Flooresense, an intelligent real-time recommendation platform; intelligent video surveillance solutions; Gladius connected buildings platform, an Internet of Things platform; ShotClasses, a mobile based micro-learning platform for enterprises; and InspectMind, software as a service platform. It also provides digital services, including cloud, data analytics, digital commerce and marketing, mobility, user experience design, and portals and collaboration services. In addition, the company offers operational services comprising agile, application development and support, automation, business process management, infrastructure management, test engineering, integrated, and reliability engineering and management services. The firm serves the banking, capital market, consumer packaged goods, education, enterprise independent software vendor, insurance, manufacturing, media and entertainment, retail, semiconductor, smart device, transportation and logistics, and travel and hospitality industries. The company was founded on August 5, 1999 and is headquartered in Bangalore, India.

Competitors

Penske Automotive Group, Inc. Automobiles - Bloomfield Hills, MI

Penske Automotive Group, Inc. operates as an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other. The Retail Automotive segment consists of retail automotive dealership operations. The Retail Commercial Truck segment is the dealership operations of commercial trucks in the U.S. and Canada. The Other segment is comprised of commercial vehicle and power systems distribution operation and other non-automotive consolidated operations. The Non-Automotive Investments segment is the equity method investments in non-automotive operations. The company was founded in October 1992 and is headquartered in Bloomfield Hills, MI.

Penske Corporation Automobiles - Bloomfield Hills, MI

Penske Corp. engages in the provision of transportation services. It operates through a variety of industry segments including retail automotive, truck leasing, transportation and logistics, manufacturing, and motorsports. The company was founded by Roger Penske in 1969 and is headquartered in Bloomfield Hills, MI.

Hertz Global Holdings, Inc. Consumer Services - Estero, FL

Hertz Global Holdings, Inc. provides car rental services. It operates as a vehicle rental business globally through its Hertz, Dollar, and Thrifty car rental brands. The company operates through the following segments: U.S. Rental Car, International Rental Car, and All Other Operations. The U.S. Rental Car segment deals with rental of vehicles, as well as sales of ancillary products and services in the U.S. The International Rental Car segment provides rental and leasing of vehicles, as well as sales of ancillary products and services internationally. All Other Operations segment offers vehicle leasing and fleet management services, and other business activities through its subsidiary DonLen. Hertz Global Holdings is founded 1918 and is headquartered in Estero, FL.

Awards & Honors

Rank #330

2016

Fortune Magazine - Fortune 1000 Companies