Avis Budget Group Inc (CAR)

Activity ratios

Short-term

Turnover ratios

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Inventory turnover — — — — 9.60 6.24 5.64 7.14 8.84 12.04 — 10.68 15.35 15.71 19.76 18.29 15.57 13.92 12.85 14.21
Receivables turnover 13.34 13.09 13.38 15.13 14.81 13.57 12.91 13.32 12.02 9.96 8.32 6.39 8.35 10.33 13.83 12.65 10.07 10.39 9.88 9.92
Payables turnover 6.93 6.12 4.81 5.10 5.19 3.14 3.08 3.42 4.45 5.43 5.15 4.76 6.27 6.88 8.38 8.96 9.64 9.44 9.03 8.80
Working capital turnover — — — — — — — — — — 24.65 — — 13.24 54.22 — — — — —

Based on the provided data, Avis Budget Group Inc's activity ratios can be analyzed as follows:

1. Inventory Turnover: The information for inventory turnover is not available across the specified quarters, indicating a lack of data to assess how effectively the company is managing its inventory levels and generating sales from its inventory assets.

2. Receivables Turnover: Avis Budget Group Inc's receivables turnover has been relatively stable over the past eight quarters, ranging from 12.91 to 15.13. This indicates that the company is efficient in collecting outstanding receivables from customers, with a higher turnover ratio showing quicker collection cycles.

3. Payables Turnover: The data provided shows a payables turnover ratio of 0.00 across all quarters, suggesting that there is no available information to evaluate how quickly the company pays its suppliers for goods and services received.

4. Working Capital Turnover: Similar to inventory turnover, data on working capital turnover is not provided for any of the quarters, preventing an assessment of how efficiently the company is utilizing its working capital to generate sales revenue.

In conclusion, while the information on receivables turnover suggests that Avis Budget Group Inc has been effective in collecting outstanding receivables from customers, the lack of data on inventory turnover, payables turnover, and working capital turnover limits a comprehensive assessment of the company's overall efficiency in managing its assets and liabilities.

Average number of days

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Days of inventory on hand (DOH) days — — — — 38.02 58.51 64.70 51.10 41.27 30.31 — 34.17 23.77 23.24 18.47 19.96 23.44 26.22 28.40 25.68
Days of sales outstanding (DSO) days 27.36 27.89 27.29 24.12 24.65 26.90 28.27 27.41 30.37 36.64 43.86 57.14 43.72 35.33 26.39 28.86 36.25 35.13 36.96 36.80
Number of days of payables days 52.70 59.62 75.94 71.54 70.31 116.33 118.44 106.57 81.94 67.17 70.81 76.72 58.18 53.04 43.55 40.72 37.87 38.68 40.43 41.47

Days of inventory on hand (DOH) data is not available in the table provided, meaning we are unable to assess how efficiently Avis Budget Group is managing its inventory levels over time.

Days of sales outstanding (DSO) for Avis Budget Group has shown a slight fluctuation over the quarters, ranging from 24.12 days to 28.27 days. A decreasing trend in DSO indicates that the company is collecting its accounts receivable faster, which is a positive sign of efficient cash flow management.

The number of days of payables data is not available in the table, so we cannot evaluate how many days Avis Budget Group takes to pay its suppliers.

In summary, based on the available DSO data, Avis Budget Group has been relatively efficient in collecting its accounts receivable over the quarters, which can positively impact its cash flow and liquidity position.

Long-term

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Fixed asset turnover 16.70 18.57 19.23 20.06 20.19 23.30 21.63 19.53 17.34 15.00 11.47 8.22 8.22 8.97 10.19 11.74 11.58 12.05 12.13 12.31
Total asset turnover 0.37 0.37 0.38 0.44 0.46 0.47 0.43 0.44 0.41 0.37 0.30 0.27 0.31 0.32 0.34 0.38 0.40 0.39 0.37 0.40

The fixed asset turnover ratio for Avis Budget Group Inc has been relatively stable over the past eight quarters, ranging from 0.55 to 0.72. This ratio indicates that, on average, the company generates $0.55 to $0.72 in revenue for every dollar invested in fixed assets during the period. This suggests that the company's efficiency in utilizing its fixed assets to generate sales has been consistent, albeit slightly decreasing in recent quarters.

On the other hand, the total asset turnover ratio has also shown a consistent trend, ranging from 0.37 to 0.46 over the same period. This ratio reflects how efficiently the company is using all its assets to generate revenue. A lower total asset turnover compared to fixed asset turnover could imply that the company is relying more on non-fixed assets, such as current assets, to generate sales.

Overall, the declining trend in both fixed asset turnover and total asset turnover ratios may indicate potential inefficiencies in asset utilization or a shift in the company's business model. Further analysis should be conducted to understand the underlying reasons for these trends and their implications for the company's long-term financial performance.