# Arko Corp. (ARKO)

> Source: Nexqual · https://nexqual.com/ARKO · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Arko Corp. (ARKO), nexqual.com/ARKO" · informational, not investment advice.

**Price:** USD 3.81 (-6.96% on the day) · last close of Oct 23, 2026; US market after hours, not a live price. Prev close 4.1 · day 3.8–4.07 · 52w 3.8–8.76 · market cap $427M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.93B, net income $14.8M (0.2% margin), free cash flow $36.7M (SEC filings).
- Valuation: P/E 28.9x (avg 29.6x at the last 3 fiscal year-ends), EV/EBITDA 3.7x, net debt $421M.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $280K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.50 on a 1–5 scale) (2 analysts), mean target USD 8.5 (range 7–10).
- Total return with dividends: 1Y -13.0% vs S&P 500 +14.4%; 5Y -56.7% vs S&P 500 +77.0%.
- Next earnings: 2026-11-04, EPS estimate USD 0.12, revenue estimate $2.02B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.42B | $9.14B | $9.41B | $8.73B | $7.64B | $7.93B |
| Operating income | $142M | $167M | $118M | $94.0M | $102M | $97.8M |
| Net income | $59.2M | $71.7M | $34.4M | $20.8M | $22.7M | $14.8M |
| EPS (diluted) | $0.42 | $0.53 | $0.24 | $0.13 | $0.15 | — |
| Free cash flow | -$67.0M | $111M | $24.9M | $108M | $65.3M | $36.7M |
| Operating margin | 1.9% | 1.8% | 1.3% | 1.1% | 1.3% | 1.2% |
| Net margin | 0.8% | 0.8% | 0.4% | 0.2% | 0.3% | 0.2% |
| Revenue growth | +85.0% | +23.3% | +3.0% | -7.2% | -12.5% | — |
| Cash + short-term investments | $311M | $301M | $222M | $267M | $311M | — |
| Total debt | $717M | $752M | $845M | $881M | $912M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 28.9x · P/S 0.1x · EV/EBITDA 3.7x · EV/Sales 0.1x · P/FCF 11.6x · P/B 1.1x · FCF yield 8.60% · Earnings yield 3.46% · Dividend yield (paid, TTM) 3.14% · Buyback yield (TTM) 3.71% · Net debt $421M · EV $848M
P/E at fiscal year-ends: Dec 2025 23.0x, Dec 2024 37.0x, Dec 2023 28.7x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-10…2026-06-11 | Bricks Maury | General Counsel/Secretary | 20,000 | $165K | 10.9% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-05 | Bricks Maury | General Counsel/Secretary | 15,000 | $115K | 7.6% | Yes | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.50 on a 1–5 scale), 2 analysts; mean target USD 8.5 (low 7, high 10).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-10 | Raymond James | Downgrade | Strong Buy → Outperform | $8 → $7 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -13.0% | -56.7% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | -13.0% | -15.4% |
| Volatility (annualized) | 55.9% | 51.8% |
| Max drawdown | -55.6% (Jun 2026→Oct 2026) | -62.1% (Nov 2021→Mar 2025) |

## Peers (Specialty Retail)
BNED (Barnes & Noble Education, Inc) USD 13.54 -2.94% · BWMX (Betterware de Mexico, S.A.P.I. ) USD 15.57 -2.60% · WOOF (Petco Health and Wellness Compa) USD 2.45 -3.16% · WINA (Winmark Corporation) USD 279.71 -2.19% · HZO (MarineMax, Inc.  (FL)) USD 52.56 +0.34% · SVV (Savers Value Village, Inc.) USD 9.38 -4.77%

## More
Full page: https://nexqual.com/ARKO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ARKO's own 10-K filed 2026-02-25 (https://www.sec.gov/Archives/edgar/data/1823794/000119312526071464/arko-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | ARKO Petroleum Corp. (APC) | "Our employee and intercompany matters agreement with APC (the "Employee and Intercompany Matters Agreement") governs the allocation of employee benefit and compensation plans, and certain shared obligations between us an…" |
| Competitor | ExxonMobil (XOM) | "In order to mitigate this competition, we typically offer our dealers competitive pricing within the framework of our existing fuel supply agreements, such as those we have with Valero, BP, Shell, Motiva, Marathon and Ex…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Fuel | $1.97B | 83.8% | +25.3% |
| Fuel Products | $1.97B | 83.8% | +25.3% |
| Merchandise Revenue | $347.4M | 14.8% | -13.2% |
| Merchandise Products | $347.4M | 14.8% | -13.2% |
| Product & Service Other | $33.2M | 1.4% | +11.2% |
| Other Product | $33.2M | 1.4% | +11.2% |
| Total revenue | $2.35B | 100% | — |
The lines above cover 200% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.12 | $0.18 | -33.3% | $2.02B | 1 |
| Next quarter (ends 2026-12-31) | $0.00 | $0.09 | -100.0% | $1.85B | 1 |
| Current fiscal year (ends 2026-12-31) | $0.11 | $0.26 | -57.7% | $7.99B | 1 |
| Next fiscal year (ends 2027-12-31) | $0.13 | $0.36 | -63.9% | $7.61B | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±26.3%; last 8 reports averaged ±15.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 101.8% | ±26.3% |
| 2027-02-19 | 119 | 63.9% | ±32.4% |