Avis Budget Group Inc (CAR)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 0.00 | — | — | — | — | 0.00 |
| Debt-to-equity ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 0.00 | — | — | — | — | 0.00 |
| Financial leverage ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 141.87 | — | — | — | — | 80.66 |
Avis Budget Group Inc has consistently maintained a Debt-to-assets ratio of 0.00 over the years, indicating that the company has no debt in relation to its total assets.
The Debt-to-capital ratio and Debt-to-equity ratio were not available for most of the periods, with values listed as not determinable. This lack of information suggests limitations in evaluating the company's leverage based on these ratios.
The Financial leverage ratio was 80.66 on March 31, 2020, showing that the company had a significant amount of financial leverage at that time. However, data for subsequent periods was not available for analysis, making it challenging to assess any trends or changes in the company's financial leverage over time.
Overall, based on the available data, Avis Budget Group Inc appears to have a strong solvency position with a low or non-existent level of debt relative to its assets, although more information would be needed to provide a comprehensive analysis of the company's leverage and capital structure.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -4.33 | 2.92 | 3.71 | 4.73 | 5.37 | 10.45 | 12.85 | 14.68 | 17.35 | 18.71 | 17.98 | 15.31 | 10.36 | 8.66 | 4.38 | 0.03 | 0.08 | -12.77 | -12.43 | -8.80 |
Avis Budget Group Inc's interest coverage ratio has fluctuated significantly over the past few years. The company faced challenges with negative interest coverage in 2020, indicating that its earnings were insufficient to cover its interest expenses during that period. However, starting from December 2021, the interest coverage improved, reaching double-digit figures by the end of June 2022.
The trend continued to show improvement, peaking at 18.71 as of September 30, 2022, indicating that the company's earnings were substantially higher than its interest obligations, providing a comfortable cushion for debt servicing. However, there was a slight decline in the interest coverage ratio in the following quarters, dropping to 2.92 as of September 30, 2024, and turning negative by the end of the year.
Overall, while Avis Budget Group Inc showed a notable improvement in its ability to cover interest expenses from 2020 to 2022, the recent decline in the interest coverage ratio suggests a potential strain on the company's ability to meet its interest obligations with current earnings. This could signal a need for closer monitoring of the company's financial health and debt management strategies.