Aramark ARMK

Consumer DiscretionaryHotels & Entertainment ServicesUnited States of America

Last close 53.96 USD on Nov 1, 2026, +47.5% year to date

Quant rating

Quant rating B Rank 100 of 344 in Consumer Discretionary

Growth B 56 of 344
Valuation C 225 of 344
Quality B 134 of 344
Revisions B 118 of 344
Momentum B 97 of 344

Wall Street consensus Buy (1.75)Average target 68.58 USD +27.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 14.2B
Enterprise value: 19.9B
52-week range: 35.40 – 62.64
3-year range: 26.19 – 62.64
Dividend yield: 0.89%
Beta (5 years): 1.10
Shares outstanding: 264M
Next earnings: Nov 16, 2026

About the company

Aramark serves educational institutions, Fortune 500 companies, world champion sports teams, healthcare providers, destinations and cultural attractions, and numerous municipalities in approximately 16 countries around the world with food and facilities management. The Company’s segments include Food and Support Services United States (FSS United States) and Food and Support Services International (FSS International). Its FSS United States segment operations focus on serving clients in five principal sectors: Business & Industry, Education, Healthcare, Sports, Leisure & Corrections and Facilities & Other. Its FSS International segment provides a similar range of services as those provided to its FSS United States clients and operates in the same sectors. Its services include food services, facilities management, refreshments, hospitality management, and supply chain services. Its food services brands include Student Nutrition, Collegiate Hospitality, and Harvest Table Culinary Group.

Growth and profitability fiscal year ends September 30

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	18,506	17,401	16,083	13,687	12,096	–
Revenue growth	6.4%	8.2%	17.5%	13.2%	−5.7%	7.6%
EPS (basic, normalized)	1.82	1.55	1.70	1.20	−0.30	–
EPS growth	17.4%	−8.8%	41.7%	–	–	–
Gross margin	15.6%	15.6%	15.1%	14.5%	13.2%	14.8%
Net margin	1.8%	1.5%	2.8%	0.3%	−0.9%	1.1%
ROE	10.6%	7.8%	13.3%	1.4%	−3.8%	5.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	499
Current ratio	1.28x
Long-term debt (mil)	6,095
Net debt (mil)	5,700
Total equity (mil)	3,394
Net debt / equity	1.68x
Net debt / EBITDA	4.28x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	18,506	+6.4%	1.1x	1,333	+5.9%	14.9x	1.82	+17.4%	29.6x
2026	20,113	+8.7%	1.0x	1,573	+18.0%	12.7x	2.28	+25.2%	23.7x
2027	21,917	+9.0%	0.9x	1,804	+14.7%	11.0x	2.81	+23.2%	19.2x
2028	23,608	+7.7%	0.8x	2,026	+12.3%	9.8x	3.35	+19.5%	16.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	20,113	0.0%	+0.7%	+1.9%	2.28	+0.1%	+1.2%	+2.9%
2027	21,917	−0.1%	+2.4%	+4.3%	2.81	−0.2%	+3.9%	+8.0%
2028	23,608	−0.1%	+3.6%	+6.7%	3.35	−0.1%	+6.2%	+15.4%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	4,200	4,376	4,417	4,552	4,279	4,626	5,048	4,832	4,907	5,058
Sales mean (mil)	4,238	4,312	4,464	4,617	4,354	4,655	5,164	4,739	4,755	4,936
Surprise	−0.9%	+1.5%	−1.0%	−1.4%	−1.7%	−0.6%	−2.2%	+2.0%	+3.2%	+2.5%
EPS reported	0.29	0.31	0.54	0.51	0.34	0.40	0.57	0.51	0.48	0.52
EPS mean	0.27	0.30	0.53	0.48	0.33	0.40	0.65	0.50	0.47	0.49
Surprise	+8.1%	+2.6%	+1.2%	+6.2%	+4.0%	+0.2%	−12.7%	+1.4%	+1.4%	+7.2%

Peer comparison Hotels & Entertainment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ARMK Aramark	14.2B	4.28x	1.8%	4.19x	23.7x	19.2x	12.7x	11.0x
RCL Royal Caribbean Cruises Ltd.	82.2B	3.09x	23.8%	7.01x	17.2x	15.1x	13.4x	12.2x
CPG Compass Group PLC	57.3B	–	4.1%	7.21x	22.9x	20.8x	12.8x	11.8x
EXHO Sodexo SA	9.7B	–	1.3%	2.27x	17.4x	14.5x	8.8x	7.8x
MGM MGM Resorts International	7.6B	0.93x	1.2%	3.01x	17.2x	17.9x	3.0x	3.0x
WH Wyndham Hotels & Resorts, Inc.	5.5B	3.70x	13.5%	11.62x	15.4x	14.0x	10.9x	10.3x
Mean		3.00x	7.6%	5.89x	19.0x	16.9x	10.3x	9.4x
Median		3.39x	2.9%	5.60x	17.3x	16.5x	11.8x	10.7x

Technical analysis

1M−0.6%
3M−5.8%
1Y+38.9%
3Y+109.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Aramark, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	18,506	17,401	16,083	13,687	12,096	12,830
Cost of revenue	15,621	14,689	13,662	11,705	10,504	11,420
Gross profit	2,885	2,711	2,421	1,983	1,592	1,410
Selling, general & administrative expenses	1,569	1,534	1,386	1,186	856	881
Research & development	–	–	–	–	–	–
Depreciation/amortization	476	436	410	398	551	595
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	36.4	35.1	–	−17.0	54.8	199
Other operating expenses	11.1	0	0	0	0	0
Operating income	792	707	625	415	131	−265
Net interest income (expense)	−361	−342	−61.5	−368	−261	−374
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	−2.9	−8.4
Net income before taxes	430	365	564	47.2	−133	−648
Provision for taxes	104	103	116	8.4	−28.6	−128
Minority interest	−0.5	0.6	0.6	0.3	1.4	−0.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	326	263	448	39.1	−103	−520
Extraordinary items	0	0	226	155	12.0	58.4
Net income	326	263	674	194	−90.8	−462
EBIT, normalized	904	799	712	398	208	424
EBITDA, normalized	1,380	1,235	1,122	796	758	1,019
Basic EPS, normalized	1.82	1.55	1.70	1.20	−0.30	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Aramark, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	639	715	2,074	408	533	2,509
Receivables	2,237	2,101	2,374	2,159	1,772	1,555
Total inventory	419	388	578	552	413	436
Prepaid expenses	160	143	194	173	181	175
Other current assets	68.0	60.1	0	0	0	0
Total current assets	3,523	3,407	5,220	3,292	2,899	4,676
Property, plant & equipment	2,436	2,212	2,721	2,624	2,626	2,602
Goodwill	4,875	4,677	5,580	5,515	5,487	5,344
Intangibles	1,874	1,805	2,043	2,114	2,029	1,933
Long-term investments	132	121	185	405	405	263
Note receivable	40.9	35.8	24.4	26.4	31.8	28.5
Other long-term assets	423	417	1,099	1,106	898	867
Total assets	13,305	12,674	16,871	15,082	14,376	15,713
Liabilities
Accounts payable	1,523	1,394	1,406	1,323	919	663
Payable/accrued	–	–	–	–	–	–
Accrued expenses	1,613	1,485	1,666	1,551	1,539	1,292
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	31.5	964	1,597	65.0	58.9	99.9
Other current liabilities	379	371	361	347	341	292
Total current liabilities	3,547	4,214	5,030	3,286	2,857	2,347
Long-term debt	5,374	4,307	6,667	7,346	7,393	9,179
Minority interest	14.1	7.5	8.2	8.8	9.1	10.0
Other liabilities	1,221	1,107	1,454	1,412	1,393	1,441
Total liabilities	10,157	9,635	13,159	12,053	11,653	12,977
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	3.1	3.0	3.0	3.0	2.9	2.9
Additional paid-in capital	4,036	3,932	3,826	3,682	3,533	3,416
Retained earnings (accumulated deficit)	453	240	964	407	328	532
Treasury stock	−1,177	−1,003	−982	−951	−933	−908
Other equity	−167	−132	−98.2	−112	−208	−307
Total equity	3,148	3,039	3,713	3,030	2,723	2,736
Total liabilities & shareholders' equity	13,305	12,674	16,871	15,082	14,376	15,713

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Aramark, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	327	262	447	38.8	−92.2	−461
Depreciation, depletion & amortization	476	436	410	398	551	595
Deferred taxes	14.2	−7.3	100	15.9	−43.2	−134
Non-cash items	98.2	47.0	−112	292	−6.0	314
Changes in working capital	5.4	−10.6	−78.4	−50.3	248	−137
Cash from operations	921	727	766	694	657	177
Investing activities
Capital expenditures	−489	−427	−384	−312	−408	−419
Other investing cash flows	−233	11.6	592	−519	−227	57.4
Cash from investing	−722	−416	209	−831	−634	−361
Financing activities
Financing cash flow items	−42.7	−65.6	1,348	38.2	−375	226
Cash dividends paid	−111	−99.9	−115	−113	−112	−111
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−81.1	−1,396	−570	18.7	−1,518	2,323
Cash from financing	−235	−1,561	663	−56.3	−2,005	2,438
Foreign exchange effects	10.5	10.8	4.7	−28.7	6.0	9.5
Net change in cash	−25.5	−1,240	1,643	−222	−1,977	2,263
Free cash flow	432	299	383	383	249	−242

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.