Aramark · ARMK · FY2025 Q4 · Calendar Q4 2025

Aramark Maintains FY26 Outlook as New Wins Support Growth

The supplied analysis supports a constructive but conditional view: resilient demand, high client retention, large new wins, and operating efficiencies support growth and margin expansion, while execution timing, start-up costs, and medical expenses could temper the benefit.

Reported Before market openNYSEIndustrials $14.35B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.64 Consensus $0.64
EPS surprise -0.2% Reported versus consensus
Reported revenue $5.05B Consensus $5.16B
Revenue surprise -2.2% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -5.2% Event window
SPY move -0.9% Same window
Abnormal move -4.3% Stock minus SPY
Volume 4.1× Versus trailing sessions
Subsequent drift +4.5% Up to 20 sessions
ARMKSPY benchmark

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Transcript intelligence

What changed

Relative to the prior quarter, the company moved from a strong Q3 outlook to reported FY2025 results and a FY2026 framework: Q4 organic revenue growth was 14%, retention was 96.3%, and management outlined 7–9% organic growth with margin expansion and leverage below 3x. The focus also broadened toward converting major contracts and scaling AI, robotics, and supply-chain initiatives.

Guidance delta

Maintained. Management's FY2026 outlook calls for 7–9% organic revenue growth, 12–17% adjusted operating income growth, margin expansion to about 5.7%, and leverage below 3x.

Key takeaways

  • Organic revenue grew 14% in Q4, supported by net-new wins and base growth.
  • Client retention was 96.3%, with gross new wins of $1.6 billion.
  • Management highlighted AI-enabled solutions, supply-chain efficiencies, and first-time outsourcing opportunities.
  • The FY2026 plan combines growth and margin expansion with leverage targeted below 3x.
  • Execution timing, contract start-up costs, and medical expenses remain key watch items.

Management priorities

  • Convert large new contracts, including Penn Medicine and Blue Origin, into operations.
  • Expand AI and robotics across menu, meal-preparation, staffing, and analytics workflows.
  • Scale Quick Eats micro-markets and mobile ordering.
  • Grow first-time outsourcing and international opportunities.
  • Continue debt reduction and disciplined capital allocation.

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Earnings History

Estimate Beat Miss Match
ARMK EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q1 '24 estimate $0.35 Q1 '24 actual $0.41, beat Q2 '24 estimate $0.27 Q2 '24 actual $0.29, beat Q3 '24 estimate $0.30 Q3 '24 actual $0.31, match Q3 '25 estimate $0.40 Q3 '25 actual $0.40, match Q4 '25 estimate $0.64 Q4 '25 actual $0.64, match Q1 '26 estimate $0.50 Q1 '26 actual $0.51, match Q2 '26 estimate $0.47 Q2 '26 actual $0.49, beat Q3 '26 estimate $0.48 Q3 '26 actual $0.52, beat Q4 '26 estimate $0.75 Q1 '27 estimate $0.64 Q2 '27 estimate $0.61 Q3 '27 estimate $0.64
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Analyst Consensus ?

ConsensusBuy24 ratings
Bullish2187.5%
Neutral28.3%
Bearish14.2%

Analyst 52W Price Targets

$55.55Current
$33Low
$56.7Average
$74High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 2, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
RBC Capital Outperform OutperformMaintainAug 19, 2026
JP Morgan Overweight OverweightMaintainAug 13, 2026
Citigroup Buy BuyMaintainAug 13, 2026
UBS Buy BuyMaintainAug 12, 2026
Stifel Buy BuyMaintainAug 12, 2026
Jefferies Buy BuyMaintainAug 12, 2026
Baird Outperform OutperformMaintainAug 12, 2026
Truist Securities Buy BuyMaintainJul 27, 2026
Oppenheimer Outperform OutperformMaintainJun 29, 2026
B of A Securities Buy BuyMaintainJun 2, 2026
Morgan Stanley Equal Weight Equal WeightMaintainMay 13, 2026
Goldman Sachs Buy BuyMaintainOct 16, 2024
Deutsche Bank Buy HoldUpgradeAug 7, 2024
Barclays Underweight UnderweightMaintainAug 10, 2023
Bernstein Perform Market PerformMaintainApr 19, 2023
Berenberg Buy HoldUpgradeOct 21, 2021
Stifel Nicolaus Buy HoldUpgradeAug 19, 2019
Nomura Buy NeutralUpgradeAug 19, 2019
Credit Suisse Outperform OutperformMaintainAug 10, 2018
Macquarie Outperform OutperformMaintainAug 25, 2016
Bank of America Buy BuyMaintainAug 11, 2016
Sterne Agee CRT Buy BuyMaintainMar 22, 2016
Credit Agricole Outperform OutperformMaintainOct 1, 2014
Wells Fargo Outperform OutperformMaintainJan 21, 2014
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Named analyst price targets

Upside is calculated against the persisted current price $55.55. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
RBC CapitalAnalyst unavailable$70$60.23 +26.0%Aug 19, 2026
New StreetAnalyst unavailable$70$60.35 +26.0%Aug 13, 2026
JefferiesAnalyst unavailable$70$61.24 +26.0%Aug 12, 2026
Deutsche BankAnalyst unavailable$74$60.46 +33.2%Aug 12, 2026
Goldman SachsAnalyst unavailable$70$60.45 +26.0%Aug 12, 2026
UBSAnalyst unavailable$71$60.47 +27.8%Aug 12, 2026
Robert W. BairdAndrew Wittmann$69$60.47 +24.2%Aug 12, 2026
Morgan StanleyAnalyst unavailable$63$60.47 +13.4%Aug 11, 2026
Truist FinancialJasper Bibb$70$57.18 +26.0%Jul 27, 2026
Robert W. BairdAndrew Wittmann$63$57 +13.4%Jul 24, 2026
UBSJoshua Chan$67$58.3 +20.6%Jul 13, 2026
Deutsche BankAnalyst unavailable$65$56.05 +17.0%Jun 29, 2026
OppenheimerAnalyst unavailable$65$56.06 +17.0%Jun 29, 2026
OppenheimerIan Zaffino$60$53.3 +8.0%Jun 11, 2026
RBC CapitalAnalyst unavailable$55$50.87 -1.0%May 14, 2026
Truist FinancialJasper Bibb$58$49.49 +4.4%May 13, 2026
Deutsche BankAnalyst unavailable$54$49.34 -2.8%May 13, 2026
Morgan StanleyAnalyst unavailable$50$49.24 -10.0%May 13, 2026
UBSAnalyst unavailable$56$48.4 +0.8%May 13, 2026
Robert W. BairdAnalyst unavailable$58$48.4 +4.4%May 13, 2026
Goldman SachsAnalyst unavailable$51$48.4 -8.2%May 13, 2026
Truist FinancialAnalyst unavailable$50$39.27 -10.0%Feb 17, 2026
UBSAnalyst unavailable$47$41.32 -15.4%Feb 11, 2026
Robert W. BairdAnalyst unavailable$50$40.96 -10.0%Feb 11, 2026
Morgan StanleyToni Kaplan$45$40.96 -19.0%Feb 10, 2026
Robert W. BairdAnalyst unavailable$46$36.68 -17.2%Nov 18, 2025
Stifel NicolausAnalyst unavailable$44$36.04 -20.8%Nov 17, 2025
UBSAnalyst unavailable$45$38.4 -19.0%Oct 1, 2025
UBSAnalyst unavailable$46$39.56 -17.2%Aug 6, 2025
Morgan StanleyToni Kaplan$43$40.4 -22.6%Dec 12, 2024
RBC CapitalKarl Green$42.5$38.53 -23.5%Sep 17, 2024
Truist FinancialJasper Bibb$42$37.99 -24.4%Sep 11, 2024
Robert W. BairdAndrew Wittmann$38$34.62 -31.6%Aug 7, 2024
Deutsche BankFaiza Alwy$39$33.66 -29.8%Aug 7, 2024
OppenheimerIan Zaffino$39$32.9 -29.8%Jun 12, 2024
JefferiesStephanie Moore$37$32 -33.4%Jun 4, 2024
Truist FinancialJasper Bibb$37$31.59 -33.4%Mar 20, 2024
Goldman SachsLizzie Dove$33$28.81 -40.6%Jan 17, 2024
J.P. MorganAnalyst unavailable$44$40.89 -20.8%Feb 8, 2023
Morgan StanleyAnalyst unavailable$44$41.96 -20.8%Jan 4, 2023
BarclaysAnalyst unavailable$36$41.9 -35.2%Dec 2, 2022
Deutsche BankAnalyst unavailable$43$40.51 -22.6%Nov 16, 2022
Morgan StanleyAnalyst unavailable$41$39.94 -26.2%Nov 16, 2022
RBC CapitalAnalyst unavailable$45$40.55 -19.0%Nov 16, 2022
Morgan StanleyAnalyst unavailable$38$33.1 -31.6%Sep 27, 2022
Morgan StanleyAnalyst unavailable$37$36.44 -33.4%Aug 10, 2022
OppenheimerIan Zaffino$32.49$24.89 -41.5%Jul 21, 2021
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Company context

Snapshot as of publication

Based in Philadelphia, Pennsylvania, Aramark, established in 1959, provides a comprehensive array of services encompassing food management, facility solutions, and uniform provision. The company serves a diverse global clientele, including educational institutions, healthcare providers, various businesses and industrial clients, sports and entertainment venues, leisure operators, and correctional facilities, both within the United States and internationally. Aramark organizes its operations into three primary divisions: U.S. Food and Support Services, International Food and Support Services, and Uniform and Career Apparel. Its extensive food-related offerings feature managed dining programs, catering solutions, food service management, and convenience retail options. This includes operating on-site restaurants, providing executive dining experiences, managing convenience stores, and offering beverage and vending services.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
  3. Polygon adjusted daily market bars · 2026-10-02T21:26:03.780602+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T21:26:03.777463+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.