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Avis Budget Group director Anu Hariharan reported an equity award of the company’s stock. On the reported date, she acquired 1,373 restricted stock units as part of the non-employee director compensation program, valued at $96.47 per unit. These units will vest in full on the one-year anniversary of the grant date and then automatically convert into an equal number of common shares. Following the award, she held 1,373 shares directly, with an additional 3,990 shares reported as indirect holdings through a nonqualified deferred compensation plan.
Avis Budget Group describes a large, globally diversified mobility business built around the Avis, Budget, Zipcar, Payless and other brands. In 2025, the company completed approximately 38 million rental transactions and generated total revenues of about $11.7 billion from a global rental fleet averaging roughly 684,000 vehicles.
The business spans about 10,000 locations in around 180 countries, organized into Americas and International segments, and includes car and truck rental, car sharing, and high‑margin license royalties. As of December 31 2025, the company employed roughly 25,000 people worldwide, with about 7,500 in its International segment.
Management highlights a 2026 strategy focused on operational efficiency, expanded analytics, digital and app‑based customer experiences, and disciplined technology investment. The report also outlines key risks, including intense industry competition, fleet cost and residual value swings, travel demand cycles, geopolitical uncertainty, cyber and regulatory exposure, and the challenges and opportunities tied to vehicle electrification and new mobility models.
Avis Budget Group reported a challenging 2025, with heavy EV-related charges driving losses despite solid demand. For Q4 2025, revenue was $2.7 billion, with a net loss of $856 million and Adjusted EBITDA of $5 million. Full-year 2025 revenue was $11.7 billion, net loss was $995 million, and Adjusted EBITDA was $748 million, up 19% from 2024.
The company recorded $518 million of long-lived asset impairment and related charges tied to shortening the useful life of certain U.S. electric vehicle rental cars, significantly affecting results. Liquidity at year-end included about $818 million plus $2.1 billion of additional fleet funding capacity, while vehicle program debt reached $19.2 billion and corporate debt $6.1 billion.
Nomura Holdings Inc. filed an amended Schedule 13G reporting a passive ownership stake in Avis Budget Group, Inc. common stock. Nomura reports beneficial ownership of 627,961 shares, representing 1.8% of the outstanding common stock, based on 35,196,992 shares outstanding as of October 22, 2025.
The position reflects shares held through wholly owned subsidiaries Nomura Global Financial Products, Inc. and Nomura Securities International, Inc., including shares underlying call options exercisable within 60 days. Nomura certifies the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Avis Budget Group.
Avis Budget Group, Inc. received an amended Schedule 13G/A from several Susquehanna-affiliated entities reporting their holdings of its common stock. The reporting persons collectively beneficially own 1,275,526 shares of Avis Budget common stock, representing 3.6% of the outstanding shares as of October 22, 2025.
The group includes G1 Execution Services, SIG Brokerage, Susquehanna Fundamental Investments, Susquehanna Investment Group, Susquehanna Portfolio Strategies, and Susquehanna Securities. Part of the position is held through options, including options to buy 909,500 shares reported by Susquehanna Securities and options to buy shares reported by Susquehanna Investment Group.
The filers state that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Avis Budget. Each entity reports its own voting and dispositive powers while disclaiming beneficial ownership of shares held directly by the others.
Jane Street Group and affiliates have disclosed a sizeable passive stake in Avis Budget Group, Inc. The filing reports beneficial ownership of 1,910,016 shares of common stock, representing 5.4% of the class as of the event date. All voting and dispositive power over these shares is shared, with no sole authority reported.
The stake is primarily held through Jane Street Options, LLC, with smaller positions at Jane Street Capital, LLC and Jane Street Global Trading, LLC. The group certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Avis Budget Group.
Morgan Stanley filed a Schedule 13G reporting a significant passive ownership position in Avis Budget Group, Inc. common stock. The firm reports beneficial ownership of 1,971,874 shares, representing 5.6% of the outstanding common stock as of 12/31/2025.
Morgan Stanley reports shared voting power over 1,923,073 shares and shared dispositive power over 1,971,874 shares, with no sole voting or dispositive power. The filing states the securities were acquired and are held in the ordinary course of business, not to change or influence control of Avis Budget Group.
Avis Budget Group (CAR) reported stronger Q3 2025 results. Revenue was $3.519 billion, up slightly from $3.480 billion a year ago. Net income rose to $360 million, and diluted EPS increased to $10.11 from $6.65, helped by lower vehicle depreciation and lease charges versus last year. The Americas remained the largest region with $2.621 billion of revenue, while EMEA grew to $742 million.
For the first nine months, revenue was $8.988 billion and the company recorded a net loss of $139 million, reflecting elevated fleet costs earlier in the year. Operating cash flow for the nine months was $2.859 billion. The balance sheet shows vehicles, net at $19.640 billion and vehicle program debt at $19.262 billion. Long‑term corporate debt increased to $6.020 billion following the issuance of $600 million of 8.375% Senior Notes due 2032 and the extension of the floating rate term loan to 2032. The company received a $114 million settlement distribution in September. As of October 22, 2025, shares outstanding were 35,196,992, and vehicle purchase commitments over the next 12 months were approximately $4.2 billion.
Avis Budget Group, Inc. filed a current report to disclose that it has reported its third quarter 2025 results. The company states that the detailed financial and operating results for this period are contained in a press release dated October 27, 2025, which is attached as Exhibit 99.1 and incorporated by reference.
The disclosure is made under Item 2.02, covering results of operations and financial condition, and the company clarifies that this information, including Exhibit 99.1, is not deemed filed for liability purposes under the Exchange Act unless specifically incorporated into another filing.