# Aramark (ARMK)

> Source: Nexqual · https://nexqual.com/ARMK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Aramark (ARMK), nexqual.com/ARMK" · informational, not investment advice.

**Price:** USD 52.52 (-5.73% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 55.71 · day 52.21–55.8 · 52w 35.07–62.65 · market cap $13.8B · NYQ

## Key facts
- Last four reported quarters (through Jul 3, 2026): revenue $19.8B, net income $383M (1.9% margin), free cash flow $433M (SEC filings).
- Valuation: P/E 36.2x (avg 26.7x at the last 3 fiscal year-ends), EV/EBITDA 14.0x, net debt $5.63B.
- 1 of 80 tracked superinvestors hold ARMK (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Total return with dividends: 1Y +33.1% vs S&P 500 +14.9%; 5Y +110.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-16, EPS estimate USD 0.75, revenue estimate $5.29B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.1B | $13.7B | $16.1B | $17.4B | $18.5B | $19.8B |
| Gross profit | $1.09B | -$1.08B | — | — | — | — |
| Operating income | $191M | $415M | $625M | $707M | $792M | $871M |
| Net income | -$90.8M | $194M | $674M | $263M | $326M | $383M |
| EPS (diluted) | -$0.36 | $0.75 | $2.57 | $0.99 | $1.22 | — |
| Free cash flow | $249M | $383M | $383M | $299M | $432M | $433M |
| Gross margin | 9.0% | -7.9% | — | — | — | — |
| Operating margin | 1.6% | 3.0% | 3.9% | 4.1% | 4.3% | 4.4% |
| Net margin | -0.8% | 1.4% | 4.2% | 1.5% | 1.8% | 1.9% |
| Revenue growth | -5.7% | +13.2% | +17.5% | +8.2% | +6.4% | — |
| Cash + short-term investments | $533M | $306M | $1.93B | $672M | $639M | — |
| Total debt | $7.45B | $7.41B | $6.70B | $5.27B | $5.41B | — |
Fiscal years end Oct. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 3, 2026)
P/E 36.2x · P/S 0.7x · EV/EBITDA 14.0x · EV/Sales 1.0x · P/FCF 32.0x · P/B 4.1x · FCF yield 3.13% · Earnings yield 2.77% · Dividend yield (paid, TTM) 0.88% · Buyback yield (TTM) 0.70% · Net debt $5.63B · EV $19.5B
P/E at fiscal year-ends: Oct 2025 31.0x, Sep 2024 39.3x, Sep 2023 9.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold ARMK. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | <0.01% | $854K | Added +36.4% |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Citigroup | Target raised | Buy | $74 → $75.5 |
| 2026-08-19 | RBC Capital | Target raised | Outperform | $60 → $70 |
| 2026-08-13 | Citigroup | Target raised | Buy | $70.5 → $74 |
| 2026-08-13 | JP Morgan | Target raised | Overweight | $55 → $70 |
| 2026-08-12 | Stifel | Target raised | Buy | $54 → $70 |
| 2026-08-12 | Jefferies | Target raised | Buy | $62 → $70 |
| 2026-08-12 | UBS | Target raised | Buy | $67 → $71 |
| 2026-08-12 | Baird | Target raised | Outperform | $63 → $69 |
| 2026-07-27 | Truist Securities | Target raised | Buy | $58 → $70 |
| 2026-06-29 | Oppenheimer | Target raised | Outperform | $60 → $65 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +33.1% | +110.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +33.2% | +16.0% |
| Volatility (annualized) | 26.2% | 28.5% |
| Max drawdown | -15.7% (Aug 2026→Oct 2026) | -25.5% (Jan 2023→Mar 2023) |

## Peers (Specialty Business Services)
ULS (UL Solutions Inc.) USD 73.63 -0.88% · RBA (RB Global, Inc.) USD 84.39 +2.91% · RTO (Rentokil Initial plc) USD 22.88 +8.75% · GPN (Global Payments Inc.) USD 85.88 +2.81% · CPRT (Copart, Inc.) USD 29.09 +5.44% · DLB (Dolby Laboratories) USD 63.28 +1.22%

## More
Full page: https://nexqual.com/ARMK · 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 ARMK's own 10-K filed 2025-11-25 (https://www.sec.gov/Archives/edgar/data/1584509/000158450925000219/cik0-20251003.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | SYSCO CORP (SYY) | "We purchase most products and other items through food service distribution companies, including Sysco Corporation ("Sysco"), US Foods, Performance Food Group and other regional distributors." |

## Revenue by business segment (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| FSS United States | $3.50B | 69.1% | +7.7% |
| FSS International | $1.56B | 30.9% | +13.2% |
| Total revenue | $5.06B | 100% | — |

## Revenue by region (fiscal year ended 2025-10-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| FSS United States: | $13.06B | 70.6% | +5.0% |
| Foreign | $5.44B | 29.4% | +9.8% |
| Total revenue | $18.51B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.75 | $0.76 | -0.6% | $5.29B | 12 |
| Next quarter (ends 2026-12-31) | $0.64 | $0.62 | +2.4% | $5.28B | 10 |
| Current fiscal year (ends 2026-09-30) | $2.28 | $2.25 | +1.3% | $20.11B | 15 |
| Next fiscal year (ends 2027-09-30) | $2.81 | $2.69 | +4.5% | $21.89B | 15 |

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

Expected move by 2026-11-20 (includes earnings 2026-11-16): ±9.0%; last 8 reports averaged ±7.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 36.0% | ±9.0% |
| 2026-12-18 | 56 | 28.9% | ±9.9% |
| 2027-01-15 | 84 | 27.2% | ±11.2% |
| 2027-04-16 | 175 | 27.1% | ±15.8% |
| 2027-05-21 | 210 | 28.8% | ±18.3% |
| 2027-08-20 | 301 | 27.7% | ±20.8% |
| 2027-11-19 | 392 | 27.4% | ±23.3% |