Aramark financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Aramark files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	14,416	14,604	15,790	16,227	12,830	12,096	13,687	16,083	17,401	18,506
Cost of revenue	13,670	13,803	14,971	15,336	11,994	11,007	14,768	14,775	15,975	16,960
Gross profit	746	802	818	891	836	1,089	-1,080	1,309	1,426	1,547
Selling, general and administrative	283	299	377	367	307	347	258	274	284	278
Operating income	746	802	818	891	-265	191	415	625	707	792
Interest expense	315	286	353	353	389	414	382	441	389	364
Interest income	5.29	12.4	17	29	15	15.3	16.7	29.8	22.5	22.5
Pre-tax income	431	521	472	556	-648	-133	47.2	564	365	430
Income tax	143	146	-96.6	108	-186	-40.6	8.43	116	103	104
Income from continuing operations	288						39.1	448	263	326
Net income to minority interests	0.43	0.26	0.56	-0.08	0.09	-1.39	-0.31	-0.58	-0.63	0.48
Net income	288	374	568	449	-462	-90.8	194	674	263	326
EBITDA	1,242	1,310	1,415	1,484	330	742	813	1,035	1,142	1,268
EPS, basic						-0.36	0.76	2.59	1.00	1.24
EPS, diluted						-0.36	0.75	2.57	0.99	1.22
Shares, basic (weighted)	242	244	246	247	252	255	257	261	263	264
Shares, diluted (weighted)	249	252	253	252	252	255	259	263	266	267
Dividend per share				0.44	0.44	0.44	0.44	0.44	0.38	0.42

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	153	239	215	247	2,509	533	306	1,927	672	639
Receivables	1,476	1,616	1,790	1,807	1,431	1,749	2,148	1,971	2,097	2,210
Inventory	587	611	725	411	436	413	552	404	388	419
Other current assets	276	188	171	193	299	205	262	298	250	255
Total current assets	2,493	2,653	2,901	2,658	4,676	2,899	3,292	5,220	3,407	3,523
Property, plant and equipment	1,023	1,042	1,378	2,182	2,051	2,038	2,032	1,426	1,573	1,734
Lease right-of-use assets				0	551	588	592	572	639	702
Goodwill	4,629	4,716	5,611	5,519	5,344	5,487	5,515	4,616	4,677	4,875
Intangible assets	1,112	1,121	2,137	2,034	1,933	2,029	2,114	1,804	1,805	1,874
Other non-current assets	1,326	1,475	1,693	1,344	1,158	1,335	1,537	729	574	597
Total assets	10,582	11,006	13,720	13,736	15,713	14,376	15,082	16,871	12,674	13,305
Accounts payable	848	956	1,019	1,000	663	919	1,323	1,272	1,394	1,523
Accrued liabilities	776	846	1,018	1,126	940	1,135	1,172	1,288	1,283	1,390
Deferred revenue	263	295		346	292	341	347	350	371	364
Short-term debt	46.5	78.2	30.9	69.9	99.9	58.9	65	1,597	964	31.5
Total current liabilities	2,185	2,368	2,490	2,705	2,347	2,857	3,286	5,030	4,214	3,547
Long-term debt	5,224	5,190	7,213	6,612	9,179	7,393	7,346	5,099	4,307	5,374
Lease liabilities				0	342	314	306	246	241	255
Other non-current liabilities				167	211	276	241	503	490	555
Total liabilities	8,421	8,547	10,691	10,416	12,977	11,653	12,053	13,159	9,635	10,157
Total debt	5,270	5,268	7,244	0	9,278	7,452	7,411	8,264	5,271	5,406
Paid-in capital	2,922	3,015	3,132	3,236	3,416	3,533	3,682	3,826	3,932	4,036
Retained earnings	-33.8	247	711	1,107	532	328	407	964	240	453
Treasury stock	-549	-682	-725	-809	-908	-933	-951	-982	-1,003	-1,177
Other comprehensive income	-181	-124	-91.2	-217	-307	-208	-112	-98.2	-132	-167
Shareholders' equity				3,320	2,736	2,723	3,030	3,713	3,039	3,148
Total equity	2,161	2,459	3,030	3,320	2,736	2,723	3,030	3,713	3,039	3,148
Total liabilities and equity	10,582	11,006	13,720	13,736	15,713	14,376	15,082	16,871	12,674	13,305
Shares outstanding	245	246	247	248	253	256	259	261	264	263

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	288	374	568	448	-461	-92.2	194	674	262	327
Depreciation and amortization	496	508	596	593	595	551	398	410	436	476
Stock-based compensation	56.9	65.2	88.3	55.3	30.3	71.1	82.3	76.3	62.6	58.6
Deferred income tax	52.4	-37.9	-104	40.5	-134	-43.2	15.9	100	-7.32	14.2
Change in receivables	-32.9	-111	-45.9	-78.8	363	-290	-411	-178	-99.8	-74.5
Change in inventory	-9.63	-21.1	-40.2	-49.7	-25.7	-7.54	-77.4	-35.3	-3.83	-24.1
Change in payables							392	115	106	116
Cash from operations	867	1,053	1,052	984	177	657	694	766	727	921
Capital expenditures	-513	-553	-629	-503	-419	-408	-312	-384	-427	-489
Acquisitions	-199	-142	-2,240	-44.9	-22.2	-266	-323	-50.2	-149	-264
Purchases of investments					0	0	-78.2	-110	-113	0
Sales and maturities of investments						0	0	80	186	43.9
Cash from investing	-680	-678	-2,865	-210	-361	-634	-831	209	-416	-722
Debt issued	1,400	3,851	3,177	77.6	3,240	894	100	1,287	571	1,968
Stock issued	35.7	28.8	21.5	39.1	90	41.6	43	45.6	36.6	43
Share buybacks	-0.75	-100	-24.4	-50	-6.54	0	0	-23.7	-14.4	-170
Dividends paid	-92.1	-101	-103	-108	-111	-112	-113	-115	-99.9	-111
Cash from financing	-157	-289	1,794	-735	2,438	-2,005	-37.7	654	-1,561	-235
Exchange rate effect		0.56	-4.52	-8.2	9.46	6.05	-28.7	4.7	10.8	10.5
Net change in cash	30.2	86.2	-23.8	31.6	2,263	-1,977	-222	1,643	-1,240	-25.5
Free cash flow	355	500	423	481	-242	249	383	383	299	432
Interest paid	275	202	307	306	354	370	329	408	334	329
Income taxes paid	55.6	126	-1.1	139	40.2	-105	12.2	46	116	117

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $54.92 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	8.5%	Gross profit / revenue.
Operating margin	4.4%	Operating income / revenue.
EBITDA margin	7.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.6%	Pre-tax income / revenue.
Net margin	1.9%	Net income / revenue.
Effective tax rate	25.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.7%	Net income / average total assets.
Return on invested capital (ROIC)	7.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	1.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.4%	Capital expenditures / revenue.
D&A / revenue	2.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	8.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 5y	13.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	12.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	24.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	11.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	16.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	30.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	24.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	18.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	23.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	17.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	26.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	9.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	39.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	44.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	4.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-1.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-0.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	3.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-4.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-3.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.28x	Current assets / current liabilities.
Quick ratio	1.03x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.17x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.81x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	43.9%	Total debt / total assets.
Liabilities / assets	75.7%	Total liabilities / total assets.
Net debt	$5.63B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.05x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$854.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	49.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$3.52B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.42x	Revenue / average total assets.
Fixed asset turnover	11.4x	Revenue / average property, plant and equipment.
Inventory turnover	41.9x	Cost of revenue / average inventory.
Days inventory	9 days	365 x average inventory / cost of revenue.
Receivables turnover	7.68x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	23 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	33 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.43	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$73.90	Revenue / diluted weighted shares.
Book value per share	$12.88	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$13.37	Tangible book value / shares outstanding.
Cash per share	$1.89	(Cash + short-term investments) / shares outstanding.
Payout ratio	31.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$14.48B	Share price x shares outstanding.
Enterprise value	$20.11B	Market cap + total debt - cash - short-term investments.
P/E	37.8x	Market cap / net income. Only when net income is positive.
P/S	0.73x	Market cap / revenue.
P/B	4.27x	Market cap / shareholders' equity. Only when equity is positive.
EV/Sales	1.01x	Enterprise value / revenue.
EV/EBIT	23.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.5x	Enterprise value / EBITDA, when both are positive.
Earnings yield	2.6%	Net income / market cap (the inverse of P/E).
Dividend yield	0.8%	Dividends paid over the period / market cap.
Shareholder yield	1.5%	(Dividends paid + share buybacks) / market cap.
PEG	2.15x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Aramark's revenue in fiscal 2025?

Aramark reported revenue of $18.51B for fiscal 2025, 6.4% higher than the year before.

Was Aramark profitable in fiscal 2025?

Yes. Net income was $326.4M, a net margin of 1.8%.

How much free cash flow did Aramark generate in fiscal 2025?

Cash from operations of $921.0M minus capital expenditures of $489.2M left free cash flow of $431.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Aramark