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Aramark

ARMK Industrials Specialty Business Services

Aramark’s revenue for fiscal 2025 (year ended September 2025) was $18.5 billion, up 6.35% from fiscal 2024.

Revenue
+9.33%
EPS
+37.0%
Free cash flow
+125.9%
Total debt
−2.62%

Quarter to June 2026, against a year earlier

52.00 2.61 −4.78%
Market cap
$14.4B
P/E
37.4×
Fwd P/E
29.8×
Dividend yield
0.88%
F-score
7/9
Altman Z
2.23
Beneish M
−2.64
Dividend safety
68/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • FSS United States
  • FSS International

Every year since 2012 →

Insider Decisions last twelve months

Sold, $m 5.28
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — 1 — — —
Insider Ownership 0.79%

Capital & Financial Ratios $m

Size
Market Cap 14,400.00
Revenue ttm 19,845.26
Net income ttm 383.72
Free cash flow ttm 463.56
Net debt Q 5,630.40
Valuation
P/E 37.36 (above 35: high)
Forward P/E 29.80
Price / sales 0.72
Forward P/S Powerpack
Price / FCF 0.00
Price / book 4.24
Financial health
Current ratio Q 1.28
Debt / equity Q 1.81
Interest coverage Q 2.70
Growth
Revenue growth Q +9.33% (above 0%: growing)
Operating income growth Q +18.07% (above 0%: growing)
EPS, this year +23.76% (at or above 15%: strong)
EPS, next year A +23.24% (at or above 15%: strong)
Revenue, next year A +8.68%
EPS, past 5 yrs —
EPS, next 5 yrs A +22.14% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.0×, against a ten-year median of 0.9×; over the ten years it ranged from 0.7× in 2020 to 1.3× in 2021.
P/E against its own 10 years 82.35%
10-year low 10-year high
P/S against its own 10 years 96.55%
10-year low 10-year high
P/B against its own 10 years 96.18%
10-year low 10-year high
EV/Sales against its own 10 years 74.50%
10-year low 10-year high

Dividends raised 3 years running

Yield
0.88%
Annual rate
0.48
Payout ratio
33.6%
Growth, 2017–25
+4.80%/yr
  1. 0.30 ’17
  2. 0.31 ’18 +3
  3. 0.32 ’19 +4
  4. 0.32 ’20 +0
  5. 0.32 ’21 +0
  6. 0.32 ’22 +0
  7. 0.33 ’23 +5
  8. 0.39 ’24 +17
  9. 0.44 ’25 +12
  10. 0.48 ’26e +9
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,927 672 639 499
Receivables 1,971 2,097 2,210 2,583
Inventory 404 388 419 434
Other 298 250 255 340
5,220 3,407 3,523 3,856
2023 2024 2025 Q'26
Payables 1,272 1,394 1,523 1,139
ST’ Debt 1,543 964 32 35
Other — — — —
5,030 4,214 3,547 3,001

Compound Annual Growth %

10y 5y 3y
Sales 2.59% 7.60% 10.58%
Cash Flow 1.39% 39.13% 25.68%
Earnings 3.30% 0.00% 18.84%
Book Value 5.27% 2.85% 1.29%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.48 Actual 0.52

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.65 0.64 Miss by 0.01
Q1 FY26 0.50 0.51 Beat by 0.01
Q2 FY26 0.47 0.49 Beat by 0.02
Q3 FY26 0.48 0.52 Beat by 0.04
Q4 FY26 0.75 — Reports 16 November 2026

EPS $

Dec Mar Jun Sep Year
’26 0.36 0.38 0.36 — —
’25 0.39 0.23 0.27 0.33 1.22
’24 0.11 0.20 0.22 0.46 0.99
’23 0.28 0.21 1.29 0.78 2.57
’22 0.17 0.14 0.16 0.29 0.75
’21 (0.32) (0.30) 0.13 0.14 (0.36)
’20 0.57 (0.80) (1.01) (0.59) (1.83)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 4,832 4,907 5,058 — —
’25 4,552 4,279 4,626 5,048 18,506
’24 4,408 4,200 4,376 4,417 17,401
’23 3,914 3,916 4,053 4,200 16,083
’22 3,948 3,861 4,127 1,751 13,687
’21 2,744 2,820 2,981 3,551 12,096
’20 4,254 3,732 2,152 2,692 12,830
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 (782) 400 117 — —
’25 (587) 256 77 1,176 921
’24 (657) 221 141 1,022 727
’23 (616) 253 (53) 927 512
’22 (503) 375 (14) 606 464
’21 (115) 337 12 423 657
’20 (309) 218 17 252 177
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (902) 305 9 — —
’25 (705) 141 (34) 1,052 454
’24 (768) 140 62 889 323
’23 (701) 176 (136) 807 146
’22 (569) 278 (96) 556 168
’21 (180) 259 (89) 292 282
’20 (405) 108 (37) 146 (188)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 18.1% a year for ten years. It grew 6.4% a year over the last ten.

Implied
18.1%
10 years, reported
6.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 14,416 14,604 15,790 16,227 12,830 12,096 13,687 16,083 17,401 18,506 19,845 +2.8% 20,112 21,919 23,613 +8.5%
Gross margin, % 10.58 11.02 11.35 10.44 6.52 9.00 7.83 8.14 8.19 8.36 8.51 (2.2) pt
EBT 431 521 472 556 (648) (133) 47 564 365 430 517 0.0%
EBT margin, % 2.99 3.56 2.99 3.43 (5.05) (1.10) 0.34 3.50 2.10 2.33 2.61 (0.7) pt
Net income 288 374 568 448 (461) (92) 39 447 262 327 384 +1.4%
Per share, $
Per share, $ Revenue 59.50 59.74 64.25 65.74 50.95 47.48 53.19 61.72 66.15 70.14 75.29 +1.8%
Earnings 1.19 1.53 2.31 1.82 (1.83) (0.36) 0.76 2.59 1.00 1.24 1.46 +0.5%
Cash flow 3.58 4.31 4.28 3.99 0.70 2.58 1.80 1.96 2.76 3.49 3.46 (0.3%)
Capex (2.73) (2.79) (10.63) (2.18) (1.45) (1.47) (1.15) (1.40) (1.53) (1.77) (1.70) (4.7%)
Free cash flow 0.85 1.52 (6.35) 1.81 (0.75) 1.11 0.65 0.56 1.23 1.72 1.76 +8.2%
Book value 8.92 10.06 12.33 13.45 10.86 10.69 11.77 14.25 11.55 11.93 12.88 +3.3%
Shares, m 242 244 246 247 252 255 257 261 263 264 263 +1.0%
Valuation, ×
Valuation, × P/E 23.27 19.59 13.54 17.42 0.00 0.00 30.03 9.66 39.12 31.22 37.36 18.4
P/S 0.46 0.50 0.48 0.48 0.38 0.51 0.43 0.41 0.59 0.55 0.72 0.5
P/B 3.08 2.98 2.53 2.37 1.78 2.25 1.94 1.76 3.35 3.22 4.24 2.5
EV/Sales 0.82 0.85 0.93 0.88 0.91 1.08 0.95 0.70 0.85 0.81 1.01 0.9
EV/FCF 71.04 69.84 (7.77) (7.64) (4.55) (6.24) (5.88) (5.05) (7.22) (7.77) (11.33) 8.9
Cash, $m
Cash, $m Operating cash flow 867 1,053 1,052 984 177 657 464 512 727 921 911 +0.7%
Capex (662) (682) (2,613) (537) (364) (375) (296) (365) (403) (467) (447) (3.8%)
Free cash flow 205 371 (1,561) 447 (188) 282 168 146 323 454 464 +9.2%
Balance, $m
Balance, $m Working capital 308 285 411 (47) 2,328 41 6 190 (808) (24) 855 n/m
Net debt 5,117 5,030 7,029 6,436 6,769 6,920 7,081 4,715 4,599 4,767 5,630 (0.8%)
Shareholders’ equity 2,161 2,459 3,030 3,320 2,736 2,723 3,030 3,713 3,039 3,148 3,394 +4.3%
Returns, %
Returns, % ROA 2.77 3.46 4.59 3.27 (3.13) (0.60) 1.32 4.22 1.78 2.51 2.81 (0.3) pt
ROIC 6.41 6.69 5.09 5.71 (1.74) 1.24 2.57 4.64 5.78 6.25 6.03 (0.2) pt
ROE 14.23 16.19 20.69 14.13 (15.24) (3.33) 6.76 20.00 7.78 10.55 11.82 (3.7) pt
People
People Employees 267,000 261,000 275,000 284,150 248,450 248,300 273,875 262,550 266,680 278,390 — +0.5%
Revenue/emp, $m 0.05 0.06 0.06 0.06 0.05 0.05 0.05 0.06 0.07 0.07 — +2.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Business profile

Updated

Aramark provides food, hospitality, procurement and facilities services at locations operated by its clients. Founded in 1959 and headquartered in Philadelphia, the company is led by Chief Executive Officer John J. Zillmer.

Its clients include schools and universities, hospitals and senior living facilities, businesses, sports and entertainment venues, parks, and correctional institutions. At many of these locations, Aramark hires and supervises food-service staff and orders, prepares and serves food and drinks. It is the exclusive food and beverage provider at most locations it serves.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
FSS United States 13,212 71.39%
FSS International 5,294 28.61%
Gross margin 8.36%
Operating margin 4.28%
Pre-tax margin 2.33%

Revenue by segment since 2012

Aramark vs peers in Specialty Business Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CPRT Copart, Inc. $28.8B 19.9× 18.7× +2.43% (above 0%: growing) −14.63% (below 0%: shrinking) −26.98% (below 0%: shrinking) 41.78% 32.01% Compare
ULS UL Solutions Inc. $16.2B 31.5× 26.9× +5.11% (above 0%: growing) +6.00% (above 0%: growing) +41.28% (above 0%: growing) 0.00% 19.68% Compare
ARMK Aramark $14.4B 37.4× 29.8× +9.33% (above 0%: growing) +37.04% (above 0%: growing) +125.89% (above 0%: growing) 8.51% 4.26%
RTO Rentokil Initial PLC $11.9B 69.1× 27.4× +66.96% (above 0%: growing) +6.36% (above 0%: growing) +7.92% (above 0%: growing) 13.59% 0.00% Compare
DLB Dolby Laboratories $5.9B 26.7× 20.0× −3.34% (below 0%: shrinking) −37.50% (below 0%: shrinking) +157.37% (above 0%: growing) 86.78% 11.25% Compare
AMTM Amentum Holdings, Inc. $5.5B 27.0× 21.0× −1.99% (below 0%: shrinking) +575.00% (above 0%: growing) +35.00% (above 0%: growing) 10.32% 4.93% Compare
UNF Unifirst Corporation $4.5B 40.7× 40.0× +4.97% (above 0%: growing) −13.79% (below 0%: shrinking) −31.08% (below 0%: shrinking) 37.38% 6.46% Compare
AZZ AZZ Inc. $4.1B 24.8× 19.8× +16.68% (above 0%: growing) −34.34% (below 0%: shrinking) +115.52% (above 0%: growing) 25.08% 17.21% Compare
FA First Advantage Corporation $3.8B 150× 74.9× +14.88% (above 0%: growing) +5,455.56% (above 0%: growing) +120.17% (above 0%: growing) 45.46% 12.71% Compare
Median of peers $5.7B 29.2× 24.0× +5.04% −3.89% +38.14% 31.23% 11.98%

All 46 Specialty Business Services stocks →

From the latest earnings call

Updated

  • CEO John Zillmer said Aramark had won more than $1.6 billion in new business fiscal year-to-date and entered the fourth quarter with approximately 98% client retention.
  • Zillmer said Aramark had begun serving a hyperscaler in Texas and was mobilizing a second site, with the scope across both locations expanding.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 98.83%
Held by the ten largest 51.37%
Holder Shares Stake Change
Vanguard 25.15m 9.54% +92.15k
BlackRock 24.81m 9.41% −738.09k
Jupiter Topco 18.30m 6.94% +18.30m
MFS Investment Management 15.58m 5.91% −1.98m
Morgan Stanley 11.90m 4.52% −2.54m
Capital Group 10.11m 3.84% −394.84k
State Street 8.19m 3.11% +266.84k
AQR Capital Management 8.11m 3.08% −1.75m
Dimensional Fund Advisors 6.71m 2.55% −465.36k
FIDUCIARY MANAGEMENT INC /WI/ 6.52m 2.47% −4.07m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 22 December 2025

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 18.74m 24.21m 193.00
2024 12.73m 17.56m 126.00
2023 13.32m 11.48m 113.00
2022 5.05m 17.21m 130.00

Ownership

Directors and executive officers, together 2.79%
The Vanguard Group 9.73%
Capital International Investors 9.35%
BlackRock, Inc. 8.63%
Janus Henderson Group plc 6.84%
Massachusetts Financial Services Company 6.70%
Morgan Stanley 6.37%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Aramark (ARMK) Latest News

26 Oct

Impact 3 · · Zacks

23 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

21 Oct

Impact 3 · · Trefis

19 Oct

Impact 3 · · Business Wire

16 Oct

Impact 3 · · Zacks

14 Oct

Impact 3 · · Zacks

13 Oct

Impact 3 · · StockStory

7 Oct

Impact 4 · · StockStory

30 Sep

Impact 3 · · Trefis

29 Sep

Impact 4 · · Business Wire

23 Sep

Impact 3 · · packagingdive.com

22 Sep

Impact 4 · · MarketBeat

21 Sep

Impact 3 · · Business Wire

19 Aug

Impact 4 ·

18 Aug

Impact 3 · · The Motley Fool transcript
Impact 3 ·

13 Aug

Impact 4 ·
Impact 3 ·

12 Aug

Impact 3 ·
Impact 3 ·

11 Aug

Impact 3 · · Moby transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · InvestorsHub
Impact 3 ·
Impact 3 ·

7 Aug

Impact 3 ·

27 Jul

Impact 3 ·

23 Jul

Impact 3 ·

13 Jul

Impact 3 ·

ARMK metrics, ten years each

stockrow.com/ARMK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com