Aramark
ARMK · NYSERetail-Eating Places · Fiscal year ends Oct 2
Aramark reported revenue of $18.5B in the fiscal year ended Oct 2025, up 6.4% from the year before. Operating income was $792M, an operating margin of 4.3%, and net income was $326M. Operating cash flow of $921M less capital expenditure of $489M left free cash flow of $432M. Net debt was $4.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Revenue | $12.1B | $13.7B | $16.1B | $17.4B | $18.5B |
| Cost of revenue | $11B | $14.8B | – | – | – |
| Gross profit | $1.1B | −$1.1B | – | – | – |
| Selling, general & admin | $347M | $258M | $274M | $284M | $278M |
| Operating income | $191M | $415M | $625M | $707M | $792M |
| Interest expense | $414M | $382M | $441M | $389M | $364M |
| Pre-tax income | −$133M | $47M | $564M | $365M | $430M |
| Income tax | −$41M | $8M | $116M | $103M | $104M |
| Net income | −$91M | $194M | $674M | $263M | $326M |
| Diluted EPS | −0.36 | 0.75 | 2.57 | 0.99 | 1.22 |
| Diluted shares | 255M | 259M | 263M | 266M | 267M |
Balance sheet
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $533M | $306M | $1.9B | $672M | $639M |
| Receivables | $1.7B | $2.1B | $2B | $2.1B | $2.2B |
| Inventory | $413M | $552M | $404M | $388M | $419M |
| Current assets | $2.9B | $3.3B | $5.2B | $3.4B | $3.5B |
| Net PP&E | $2B | $2B | $1.4B | $1.6B | $1.7B |
| Goodwill | $5.5B | $5.5B | $4.6B | $4.7B | $4.9B |
| Total assets | $14.4B | $15.1B | $16.9B | $12.7B | $13.3B |
| Payables | $919M | $1.3B | $1.3B | $1.4B | $1.5B |
| Deferred revenue | $341M | $347M | $350M | $371M | $364M |
| Current liabilities | $2.9B | $3.3B | $5B | $4.2B | $3.5B |
| Short-term debt | $59M | $65M | $1.6B | – | – |
| Long-term debt | $7.4B | $7.3B | $5.1B | $4.3B | $5.4B |
| Shareholders' equity | $2.7B | $3B | $3.7B | $3B | $3.1B |
Cash flow
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $657M | $694M | $766M | $727M | $921M |
| Capital expenditure | $408M | $312M | $384M | $427M | $489M |
| Free cash flow | $249M | $383M | $383M | $299M | $432M |
| Depreciation & amortisation | $551M | $398M | $410M | $436M | $476M |
| Stock-based compensation | $71M | $82M | $76M | $63M | $59M |
| Acquisitions | $266M | $323M | $50M | $149M | $264M |
| Share buybacks | $0 | $0 | $24M | $14M | $170M |
| Dividends paid | $112M | $113M | $115M | $100M | $111M |
| Dividend per share | 0.44 | 0.44 | 0.44 | 0.38 | 0.42 |
Key ratios
| Fiscal year | Oct 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 13.2% | 17.5% | 8.2% | 6.4% |
| Operating income growth (YoY) | – | 117.0% | 50.5% | 13.0% | 12.1% |
| EPS growth (YoY) | – | – | 242.7% | −61.5% | 23.2% |
| Gross margin | 9.0% | −7.9% | – | – | – |
| Operating margin | 1.6% | 3.0% | 3.9% | 4.1% | 4.3% |
| Net margin | −0.8% | 1.4% | 4.2% | 1.5% | 1.8% |
| Return on equityBlank when equity is negative | −3.3% | 6.4% | 18.2% | 8.6% | 10.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 1.7% | 3.5% | 5.3% | 8.4% | 8.1% |
| Free cash flow margin | 2.1% | 2.8% | 2.4% | 1.7% | 2.3% |
| Cash conversion (CFO ÷ net income) | −7.23x | 3.57x | 1.14x | 2.77x | 2.82x |
| Receivable days | 53 | 57 | 45 | 44 | 44 |
| Inventory days | 14 | 14 | – | – | – |
| Payable days | 30 | 33 | – | – | – |
| Interest cover | 0.46x | 1.09x | 1.42x | 1.82x | 2.17x |
| Debt ÷ equity | 2.74x | 2.45x | 1.80x | 1.42x | 1.71x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $6.9B | $7.1B | $4.8B | $3.6B | $4.7B |
| Current ratio | 1.01x | 1.00x | 1.04x | 0.81x | 0.99x |
Recent filings
More in Retail-Eating Places
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.