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Side-by-side financial comparison of AVIS BUDGET GROUP, INC. (CAR) and HERTZ GLOBAL HOLDINGS, INC (HTZ). Click either name above to swap in a different company.
AVIS BUDGET GROUP, INC. is the larger business by last-quarter revenue ($2.7B vs $2.0B, roughly 1.3× HERTZ GLOBAL HOLDINGS, INC). HERTZ GLOBAL HOLDINGS, INC runs the higher net margin — -9.6% vs -28.0%, a 18.5% gap on every dollar of revenue. On growth, HERTZ GLOBAL HOLDINGS, INC posted the faster year-over-year revenue change (-0.6% vs -1.7%). Over the past eight quarters, AVIS BUDGET GROUP, INC.'s revenue compounded faster (2.2% CAGR vs -1.3%).
Avis Budget Group, Inc. is an American car rental agency holding company headquartered in Parsippany, New Jersey. It is the parent company of several brands including Avis Car Rental, Budget Rent a Car, Budget Truck Rental, Payless Car Rental, and Zipcar.
Hertz Global Holdings, Inc., known as Hertz, is an American car rental company based in Estero, Florida. The company operates its namesake Hertz brand, along with the brands Dollar Rent A Car, Firefly Car Rental, and Thrifty Car Rental.
CAR vs HTZ — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $2.0B |
| Net Profit | $-747.0M | $-194.0M |
| Gross Margin | — | — |
| Operating Margin | -27.8% | -11.0% |
| Net Margin | -28.0% | -9.6% |
| Revenue YoY | -1.7% | -0.6% |
| Net Profit YoY | 61.8% | 59.5% |
| EPS (diluted) | $-21.11 | $-0.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.7B | $2.0B | ||
| Q3 25 | $3.5B | $2.5B | ||
| Q2 25 | $3.0B | $2.2B | ||
| Q1 25 | $2.4B | $1.8B | ||
| Q4 24 | $2.7B | $2.0B | ||
| Q3 24 | $3.5B | $2.6B | ||
| Q2 24 | $3.0B | $2.4B | ||
| Q1 24 | $2.6B | $2.1B |
| Q4 25 | $-747.0M | $-194.0M | ||
| Q3 25 | $359.0M | $184.0M | ||
| Q2 25 | $4.0M | $-294.0M | ||
| Q1 25 | $-505.0M | $-443.0M | ||
| Q4 24 | $-2.0B | $-479.0M | ||
| Q3 24 | $237.0M | $-1.3B | ||
| Q2 24 | $14.0M | $-865.0M | ||
| Q1 24 | $-114.0M | $-186.0M |
| Q4 25 | -27.8% | -11.0% | ||
| Q3 25 | 13.4% | 9.4% | ||
| Q2 25 | 0.5% | -14.5% | ||
| Q1 25 | -27.9% | -29.0% | ||
| Q4 24 | -104.8% | -27.6% | ||
| Q3 24 | 9.5% | -62.9% | ||
| Q2 24 | 0.9% | -20.1% | ||
| Q1 24 | -5.6% | -27.9% |
| Q4 25 | -28.0% | -9.6% | ||
| Q3 25 | 10.2% | 7.4% | ||
| Q2 25 | 0.1% | -13.5% | ||
| Q1 25 | -20.8% | -24.4% | ||
| Q4 24 | -72.3% | -23.5% | ||
| Q3 24 | 6.8% | -51.7% | ||
| Q2 24 | 0.5% | -36.8% | ||
| Q1 24 | -4.5% | -8.9% |
| Q4 25 | $-21.11 | $-0.46 | ||
| Q3 25 | $10.11 | $0.42 | ||
| Q2 25 | $0.10 | $-0.95 | ||
| Q1 25 | $-14.35 | $-1.44 | ||
| Q4 24 | $-55.08 | $-1.57 | ||
| Q3 24 | $6.65 | $-4.34 | ||
| Q2 24 | $0.41 | $-2.82 | ||
| Q1 24 | $-3.21 | $-0.61 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $519.0M | $565.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-3.1B | $-459.0M |
| Total Assets | $31.3B | $22.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $519.0M | $565.0M | ||
| Q3 25 | $564.0M | $1.1B | ||
| Q2 25 | $541.0M | $503.0M | ||
| Q1 25 | $516.0M | $626.0M | ||
| Q4 24 | $534.0M | $592.0M | ||
| Q3 24 | $602.0M | $501.0M | ||
| Q2 24 | $511.0M | $568.0M | ||
| Q1 24 | $522.0M | $465.0M |
| Q4 25 | $-3.1B | $-459.0M | ||
| Q3 25 | $-2.4B | $-317.0M | ||
| Q2 25 | $-2.7B | $-504.0M | ||
| Q1 25 | $-2.8B | $-262.0M | ||
| Q4 24 | $-2.3B | $153.0M | ||
| Q3 24 | $-238.0M | $681.0M | ||
| Q2 24 | $-490.0M | $2.0B | ||
| Q1 24 | $-515.0M | $2.8B |
| Q4 25 | $31.3B | $22.3B | ||
| Q3 25 | $32.5B | $23.0B | ||
| Q2 25 | $32.4B | $23.1B | ||
| Q1 25 | $29.0B | $22.0B | ||
| Q4 24 | $29.0B | $21.8B | ||
| Q3 24 | $32.7B | $23.0B | ||
| Q2 24 | $33.9B | $25.2B | ||
| Q1 24 | $33.5B | $24.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $437.0M | $193.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $437.0M | $193.0M | ||
| Q3 25 | $1.4B | $835.0M | ||
| Q2 25 | $837.0M | $346.0M | ||
| Q1 25 | $619.0M | $251.0M | ||
| Q4 24 | $772.0M | $414.0M | ||
| Q3 24 | $1.3B | $894.0M | ||
| Q2 24 | $884.0M | $546.0M | ||
| Q1 24 | $589.0M | $370.0M |
| Q4 25 | — | — | ||
| Q3 25 | 3.91× | 4.54× | ||
| Q2 25 | 209.25× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.37× | — | ||
| Q2 24 | 63.14× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAR
| Avis | $1.5B | 57% |
| Budget | $979.0M | 37% |
| Other Brands | $171.0M | 6% |
HTZ
Segment breakdown not available.
