At a glance
Aramark Holdings is worth $14.65B, about 46 times its fiscal 2025 earnings. Revenue grew 6.4% to $18.51B in fiscal 2025, with 1.8% kept as profit; over 3 years it has grown 10.6% a year. It pays a 0.86% dividend yield, and returned $758.4M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +43.0% over the past year with dividends reinvested and +17.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 69.8% in the 2020 crash (S&P 500: 33.7%) and 24.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 5 months after the lows.
The business in plain English
Schools, hospitals, offices, stadiums, parks and prisons hire Aramark to run food service on their sites. At most locations it is the only food provider: it hires and trains most of the staff, orders the food, and prepares and serves it. It also offers facilities services, such as cleaning, maintenance, energy management and groundskeeping. About 278,390 employees work across 16 countries.
Offices, schools and hospitals give Aramark a built-in customer base of employees, students and patients. At stadiums, arenas and convention centers, sales depend on the client drawing crowds to games, concerts and conventions. Aramark serves 26 teams in Major League Baseball, the NBA, NFL and NHL, plus about 30 NCAA Division I football stadiums. It buys most food through distributors and earns volume discounts and rebates from suppliers. Sysco delivered about 43% of its US and Canadian purchases in fiscal 2025.
In fiscal 2025, which ended October 3, 2025, the US segment brought in $13.2 billion, or 71% of revenue. The international segment brought in $5.3 billion, or 29%; its largest operations are in Canada, Chile, China, Germany, Spain, Ireland and the UK. No single client provides more than 2% of revenue, apart from US government agencies combined. Margins are thin: operating income was $791.8 million on $18.5 billion of revenue, about 4 cents per dollar.
Price history
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ARMK +43.0% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| FSS United States | $13.21B | 71.4% |
| FSS International | $5.29B | 28.6% |
Latest results
- In Q3 FY2026 (ended Jul 3, 2026), revenue was $5.06B, up 9.3% from a year earlier, and net income was $97.7M (+36.0%).
- For fiscal 2025, revenue was $18.51B (+6.4% year over year; +10.6% a year from FY2022 to FY2025) with a 1.8% net margin.
Financial health check
| Revenue growth a year (FY2022–FY2025) | +10.6% good |
|---|---|
| Operating margin | 4.3% weak |
| Free cash flow margin | 2.3% watch |
| Return on equity (FY2025) | 10.4% watch |
| Return on assets (FY2025) | 2.5% weak |
| Net cash (cash minus debt) | $-5.63B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $12.83B | $-461.5M | $-241.8M |
| FY2021 | $12.10B | $-90.8M | $249.3M |
| FY2022 | $13.69B | $194.5M | $382.6M |
| FY2023 | $16.08B | $674.1M | $382.9M |
| FY2024 | $17.40B | $262.5M | $299.1M |
| FY2025 | $18.51B | $326.4M | $431.8M |
Valuation snapshot
| Market value | $14.65B |
|---|---|
| P/E ratio | 45.5 |
| Dividend yield | 0.86% |
Rank among 1514 US companies
Market value at each year end
Aramark Holdings’s market value went from $6.29B at the end of 2016 to $14.65B on Oct 28, 2026, about 2.3 times as much; since the end of 2025 it is up 51%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $14.65B | +51.1% |
| 2025 | $9.69B | -1.6% |
| 2024 | $9.85B | +34.0% |
| 2023 | $7.35B | -4.5% |
| 2022 | $7.70B | +13.4% |
| 2021 | $6.79B | -3.1% |
| 2020 | $7.01B | -10.0% |
| 2019 | $7.79B | +51.4% |
| 2018 | $5.14B | -31.7% |
| 2017 | $7.53B | +19.8% |
| 2016 | $6.29B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ARMK price data to Oct 28, 2026 | +51.8% | +43.0% | +29.2% | +17.7% | +9.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +51.8% |
| 2025 | -0.0% |
| 2024 | +34.4% |
| 2023 | -4.3% |
| 2022 | +13.5% |
| 2021 | -3.0% |
| 2020 | -10.0% |
| 2019 | +51.7% |
| 2018 | -31.4% |
| 2017 | +20.9% |
| 2016 | +12.1% |
| 2015 | +4.7% |
| 2014 | +20.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 60.1% over that stretch · deepest drop along the way 69.8%, back to its old high 11.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 8.7% over that stretch · deepest drop along the way 24.8%, back to its old high 4.9 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| JANUS HENDERSON GROUP PLC | 6.9% | Jun 30, 2025 |
| Massachusetts Financial Services Company | 6.7% | Mar 31, 2025 |
| Morgan Stanley | 5.3% | Mar 31, 2026 |
| Vanguard Capital Management | 5.25% | Mar 31, 2026 |
| Farallon Capital Partners, L.P. | 4.9% | Jun 30, 2025 |
| Capital International Investors | 3.9% | Jan 30, 2026 |
ETFs with the most weight in ARMK
| QLTY GMO US Quality ETF Shs | 2.37% |
| SOVF Sovereign's Capital Flourish Fund | 1.32% |
| XMLV Invesco S&P MidCap Low Volatility ETF | 1.01% |
| XMVM Invesco S&P MidCap Value with Momentum ETF | 0.94% |
| MDYV SPDR S&P 400 Mid Cap Value ETF | 0.7% |
| RFV Invesco S&P MidCap 400® Pure Value ETF | 0.56% |
| MIDE Xtrackers S&P MidCap 400 Scored & Screened ETF | 0.53% |
| PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF | 0.48% |
What could go wrong
- Rising costs can squeeze thin margins. Aramark kept about 4 cents of operating profit per dollar of revenue in fiscal 2025. Contract pricing and cancellation terms can make it hard to pass higher food and labor costs on to clients.
- Losing clients or renewing on worse terms. Revenue depends on contracts with schools, hospitals, businesses and venues. Clients can leave at renewal, demand better pricing, switch to a competitor, or bring food and facilities work back in-house.
- Venue sales depend on crowds. Stadium, convention and park revenue relies on attendance. League labor disputes, poor team performance, fewer playoff games, bad weather or weaker consumer spending can cut sales, and Aramark has little control over turnout.
- Labor shortages, wages and unions. With about 278,390 employees, Aramark is exposed to rising wages, hiring difficulty, union organizing and possible strikes. It also pays into pension plans shared with other employers, which could leave it with large liabilities.
- Food safety and allergen mistakes. Aramark prepares and serves food to millions of students, patients, workers and fans. A food-borne illness outbreak or allergen mistake could lead to injury claims and harm its reputation with clients.
- Heavy debt, partly at variable rates. As of July 3, 2026, Aramark had $6.1 billion of debt and $0.5 billion of cash and investments. On variable-rate debt, rising interest rates raise its interest bill. Loan terms limit its flexibility.
Recent events
- Quarterly results released
- Executive or board change
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Shareholder vote results
- Major agreement signed
- Quarterly results released
For income and retirement investors
Aramark pays a small dividend: the yield was 0.86% as of October 28, 2026, so it supplies little income. Dividends per share were $0.44 from fiscal 2020 to 2023, fell to $0.38 in fiscal 2024 after it spun off its uniform business, and rose to $0.42 in fiscal 2025, a one-year streak of increases. The fiscal 2025 payout used 34% of earnings and about 26% of free cash flow (cash left after capital spending). Buybacks totaled $169.8 million in fiscal 2025, yet the share count rose 3% from October 2021 to July 2026.
In the 2020 COVID crash, the shares fell 69.8% within a month and took nearly a year to recover. In the 2022 market downturn they fell 24.8% and recovered in about five months. The shares did not trade during the 2008 financial crisis, when Aramark was private. Aramark warns its debt could limit dividends. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Aramark make money?
Aramark earns money by running food service and facilities services for clients such as schools, universities, hospitals, offices, stadiums, parks and prisons. At most sites it is the only food provider and handles staffing, ordering, cooking and serving. It also offers cleaning, maintenance and energy management. In fiscal 2025, which ended October 3, 2025, revenue was $18.5 billion, with 71% from the United States and 29% from its international segment.
Does Aramark raise its dividend every year?
No. Aramark paid $0.44 per share in each of fiscal 2020 through 2023, paid $0.38 in fiscal 2024, the first year after it spun off its uniform business, and raised it to $0.42 in fiscal 2025. That is a one-year streak of increases. The yield was 0.86% as of October 28, 2026, and the fiscal 2025 dividend used 34% of earnings. The company says there is no assurance it will keep paying dividends.
What is Vestis, and how is it related to Aramark?
Vestis is Aramark's former uniform business. On September 30, 2023, Aramark spun it off as a separate public company, giving shareholders one Vestis share for every two Aramark shares they held on September 20, 2023. The spin-off was structured to be tax-free. Vestis trades on the NYSE as VSTS. Aramark reports the uniform unit's past results as discontinued operations (results kept separate from the ongoing business), and comparable revenue figures start in fiscal 2022.
How much debt does Aramark have?
About $6.1 billion as of July 3, 2026. That compares with roughly $0.5 billion of cash and investments and $3.4 billion of shareholders' equity (the accounting value of what shareholders own). Some of the debt carries variable interest rates, so rising rates can raise interest costs. Aramark warns that its debt could limit its ability to raise money, react to economic changes and pay dividends.
How has Aramark stock performed?
Strongly over the past three years, less so over ten. As of October 28, 2026, Aramark's share price was up 43% over one year and had risen about 29% a year over three years, about 18% a year over five years and 9% a year over ten years. The ride has been bumpy: the shares fell 31% in 2018 and dropped 69.8% from peak to low in the 2020 COVID crash. On that date the shares traded at 45.5 times fiscal 2025 earnings.