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Side-by-side financial comparison of AVIS BUDGET GROUP, INC. (CAR) and SmartRent, Inc. (SMRT), based on the latest 10-Q / 10-K filings. 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 $36.5M, roughly 73.0× SmartRent, Inc.). SmartRent, Inc. runs the higher net margin — -28.0% vs -8.9%, a 19.1% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -1.7%). Over the past eight quarters, AVIS BUDGET GROUP, INC.'s revenue compounded faster (2.2% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
CAR vs SMRT — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $36.5M |
| Net Profit | $-747.0M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | -27.8% | -10.9% |
| Net Margin | -28.0% | -8.9% |
| Revenue YoY | -1.7% | 3.1% |
| Net Profit YoY | 61.8% | 71.6% |
| EPS (diluted) | $-21.11 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $2.7B | $36.5M | ||
| Q3 25 | $3.5B | $36.2M | ||
| Q2 25 | $3.0B | $38.3M | ||
| Q1 25 | $2.4B | $41.3M | ||
| Q4 24 | $2.7B | $35.4M | ||
| Q3 24 | $3.5B | $40.5M | ||
| Q2 24 | $3.0B | $48.5M | ||
| Q1 24 | $2.6B | $50.5M |
| Q4 25 | $-747.0M | $-3.2M | ||
| Q3 25 | $359.0M | $-6.3M | ||
| Q2 25 | $4.0M | $-10.9M | ||
| Q1 25 | $-505.0M | $-40.2M | ||
| Q4 24 | $-2.0B | $-11.4M | ||
| Q3 24 | $237.0M | $-9.9M | ||
| Q2 24 | $14.0M | $-4.6M | ||
| Q1 24 | $-114.0M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | -27.8% | -10.9% | ||
| Q3 25 | 13.4% | -19.4% | ||
| Q2 25 | 0.5% | -30.5% | ||
| Q1 25 | -27.9% | -99.9% | ||
| Q4 24 | -104.8% | -36.6% | ||
| Q3 24 | 9.5% | -29.0% | ||
| Q2 24 | 0.9% | -14.3% | ||
| Q1 24 | -5.6% | -20.1% |
| Q4 25 | -28.0% | -8.9% | ||
| Q3 25 | 10.2% | -17.3% | ||
| Q2 25 | 0.1% | -28.3% | ||
| Q1 25 | -20.8% | -97.2% | ||
| Q4 24 | -72.3% | -32.3% | ||
| Q3 24 | 6.8% | -24.5% | ||
| Q2 24 | 0.5% | -9.5% | ||
| Q1 24 | -4.5% | -15.2% |
| Q4 25 | $-21.11 | $-0.02 | ||
| Q3 25 | $10.11 | $-0.03 | ||
| Q2 25 | $0.10 | $-0.06 | ||
| Q1 25 | $-14.35 | $-0.21 | ||
| Q4 24 | $-55.08 | $-0.06 | ||
| Q3 24 | $6.65 | $-0.05 | ||
| Q2 24 | $0.41 | $-0.02 | ||
| Q1 24 | $-3.21 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $519.0M | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-3.1B | $232.1M |
| Total Assets | $31.3B | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $519.0M | $104.5M | ||
| Q3 25 | $564.0M | $100.0M | ||
| Q2 25 | $541.0M | $105.0M | ||
| Q1 25 | $516.0M | $125.6M | ||
| Q4 24 | $534.0M | $142.5M | ||
| Q3 24 | $602.0M | $163.4M | ||
| Q2 24 | $511.0M | $187.4M | ||
| Q1 24 | $522.0M | $204.7M |
| Q4 25 | $-3.1B | $232.1M | ||
| Q3 25 | $-2.4B | $234.4M | ||
| Q2 25 | $-2.7B | $238.8M | ||
| Q1 25 | $-2.8B | $250.7M | ||
| Q4 24 | $-2.3B | $289.4M | ||
| Q3 24 | $-238.0M | $305.1M | ||
| Q2 24 | $-490.0M | $329.4M | ||
| Q1 24 | $-515.0M | $333.1M |
| Q4 25 | $31.3B | $320.9M | ||
| Q3 25 | $32.5B | $335.8M | ||
| Q2 25 | $32.4B | $354.0M | ||
| Q1 25 | $29.0B | $366.1M | ||
| Q4 24 | $29.0B | $420.2M | ||
| Q3 24 | $32.7B | $448.6M | ||
| Q2 24 | $33.9B | $475.3M | ||
| Q1 24 | $33.5B | $485.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $437.0M | $7.7M |
| Free Cash FlowOCF − Capex | — | $7.7M |
| FCF MarginFCF / Revenue | — | 21.0% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | — | 0.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-25.1M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $437.0M | $7.7M | ||
| Q3 25 | $1.4B | $-2.1M | ||
| Q2 25 | $837.0M | $-14.9M | ||
| Q1 25 | $619.0M | $-12.2M | ||
| Q4 24 | $772.0M | $-12.0M | ||
| Q3 24 | $1.3B | $-3.7M | ||
| Q2 24 | $884.0M | $-13.9M | ||
| Q1 24 | $589.0M | $-3.3M |
| Q4 25 | — | $7.7M | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | $-14.3M | ||
| Q4 24 | — | $-13.3M | ||
| Q3 24 | — | $-3.9M | ||
| Q2 24 | — | $-14.1M | ||
| Q1 24 | — | $-3.4M |
| Q4 25 | — | 21.0% | ||
| Q3 25 | — | -6.1% | ||
| Q2 25 | — | -42.3% | ||
| Q1 25 | — | -34.7% | ||
| Q4 24 | — | -37.5% | ||
| Q3 24 | — | -9.7% | ||
| Q2 24 | — | -29.1% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 209.25× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.37× | — | ||
| Q2 24 | 63.14× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
CAR
| Avis | $1.5B | 57% |
| Budget | $979.0M | 37% |
| Other Brands | $171.0M | 6% |
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |