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Services-auto rental & leasing (no drivers) company · NV · FY ends Mar · Revenue $6.04B · 7.15% margin · -$1.36B FCF
Operating margin is thin at 7.15%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.6%, steady but not accelerating. Margins contracted 5.1pp, which offsets some of the top-line progress.
Negative free cash flow of -$1.36B. The business is consuming cash, not generating it. Operating margin contracted 5.1pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$6.04B
▲ +3.6% YoY
Net Income (TTM)
$83M
▼ -77.4% YoY
Op. Margin
7.15%
▼ -5.1pp YoY
ROIC
2.63%
▼ -1.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1.36B
▲ +31.9% YoY
Op. Cash Flow (TTM)
$1.79B
▲ +23.4% YoY
Net Debt
$7.05B
Cash & Equiv.
$1.12B
5Y CAGR: +5.9%
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