Here are 1-3 brief analogies to describe Aramark:

• It's like Amazon Web Services (AWS), but for a company's physical operations such as dining, facility maintenance, and uniforms.
• Imagine ADP, but instead of payroll and HR, Aramark manages a company's essential physical services like food, cleaning, and uniform rental.
• It's like FedEx or UPS, but for delivering and managing a company's onsite operational needs, from food services to facility upkeep and uniforms.

• Food Service Management: Aramark provides comprehensive dining solutions, catering, and food operations for businesses, educational institutions, healthcare facilities, and sports venues.
• Facilities Management: This service offers integrated solutions including building maintenance, custodial, landscaping, and energy management for various client sites.
• Uniform Services: Aramark provides rental, sale, and laundering of work uniforms, protective apparel, and related textile products to a wide range of industries.

Aramark (ARMK) - Major Customers

Aramark (symbol: ARMK) primarily sells its services to other companies and institutions, not directly to individual consumers. Due to the diverse nature of its business, which includes food services, facilities management, and uniform services across various sectors, Aramark does not typically have a few publicly disclosed "major customer companies" that account for a significant portion of its revenue. Instead, its customer base consists of a vast array of organizations and institutions globally.

The company serves the following major categories of customers:

• Educational Institutions: This category includes K-12 school districts, colleges, and universities that contract Aramark for comprehensive dining services, catering, and facilities management for their campuses.
• Healthcare Institutions: Hospitals, clinics, and senior living facilities are major clients, utilizing Aramark for patient and staff dining services, retail food operations, and a range of facilities management services including environmental services, clinical technology services, and energy management.
• Businesses & Industry: Aramark provides food services (such as employee cafeterias and executive dining), facilities management (e.g., cleaning, maintenance), and uniform services to corporate offices, manufacturing plants, industrial sites, and other commercial enterprises across various sectors.
• Sports & Entertainment Venues: Professional sports stadiums, arenas, convention centers, cultural attractions, and other entertainment venues engage Aramark for concessions, premium dining experiences, catering, and event-related facilities services.
• Correctional Institutions: Aramark provides food services and other support services to prisons and various other correctional facilities.

John Zillmer, Chief Executive Officer

John Zillmer returned to Aramark as CEO in October 2019, having previously spent 18 years with the company, where he ultimately became President of Global Food & Support Services. After his initial tenure at Aramark, he served as Chairman and CEO of Allied Waste Industries and later as CEO and Executive Chairman of Univar, a global chemical and ingredients distributor. Allied Waste Industries merged with Republic Services, Inc. in December 2008 while he was Chairman and CEO.

Jim Tarangelo, Senior Vice President and Chief Financial Officer

Jim Tarangelo was appointed Aramark's CFO in January 2024. He has over 20 years of experience within Aramark, having held various leadership positions including Senior Vice President and Treasurer, and CFO of Aramark International. Tarangelo played a lead role in the execution of Aramark's 2023 spin-off of its uniforms business. Prior to joining Aramark, he worked at PricewaterhouseCoopers and Legg Mason.

Abigail Charpentier, Senior Vice President & Chief Human Resources Officer

Abigail Charpentier was appointed Senior Vice President and Chief Human Resources Officer in 2023. Her previous roles include Senior Vice President of Human Resources and Diversity for Aramark’s U.S. Food & Facilities from August 2021 to January 2023, and Vice President of People & Culture of the Americas at Four Seasons Hotels & Resorts from 2018 to 2021. She also held various human resources and operational positions from 1995 until 2018, including Vice President of Human Resources at Aramark Headquarters from 2017 to 2018 and Vice President, Human Resources of Aramark Education from 2014 to 2017.

Lauren Harrington, Senior Vice President & General Counsel

Lauren Harrington serves as Senior Vice President and General Counsel for Aramark, leading the legal team responsible for corporate matters and all lines of business, as well as overseeing global compliance and corporate security. She joined Aramark in 2006 and was promoted to Vice President and Associate General Counsel in 2009. She has led legal teams for numerous domestic businesses within Aramark.

Marc Bruno, Chief Operating Officer, U.S. Food & Facilities

Marc Bruno serves as the Chief Operating Officer for U.S. Food & Facilities at Aramark.

Aramark (symbol: ARMK) operates primarily in two main addressable markets: Food Services and Facilities Management. Aramark's Uniform Services division was spun off into an independent publicly traded company, Vestis (NYSE: VSTS), on October 2, 2023, and is therefore no longer a part of Aramark's main products or services.

Food Services

The addressable market for Food Services in the United States was valued at approximately USD 1.02 trillion in 2024. This market is projected to grow to approximately USD 1.53 trillion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 6.73% during the forecast period. Other estimates place the U.S. food services market at USD 1,202.65 billion in 2024, with a projection to reach USD 2,066.21 billion by 2032 at a CAGR of 7.0% from 2025–2032.

Facilities Management

For Facilities Management in the United States, the market size was estimated at around USD 315.78 billion in 2024. It is expected to reach approximately USD 403.42 billion by 2030, with a CAGR of 6.07% during the forecast period (2025-2030). Another source indicates the U.S. facility management market size at USD 365.93 billion in 2025, projected to rise to USD 422.8 billion by 2030, at a CAGR of 2.93%.

Expected Drivers of Future Revenue Growth for Aramark (ARMK)

Over the next 2-3 years, Aramark (ARMK) is anticipated to drive revenue growth through several key strategies and market dynamics:

• Net New Business Growth: Aramark expects to continue expanding its client base by securing new contracts across its diverse service sectors. The company highlighted $760 million in new client wins year-to-date in a recent earnings call, contributing to a projected 4%-5% net new business growth for fiscal 2025. Management has also reaffirmed fiscal 2025 guidance, anticipating double-digit revenue growth in the latter half of the year, partly fueled by new business expansion.
• Base Business Volume Expansion: Growth within Aramark's existing client relationships, referred to as base business volume, is a significant revenue driver. This was evident in fiscal 2024, where consolidated revenue increased by 8% year-over-year due to record base business volume, pricing, and net new business growth. The company's focus on "driving strong profitable top-line growth from base business" is a strategic priority for fiscal 2025.
• Strategic Pricing Actions: Aramark utilizes strategic pricing to contribute to its revenue growth, alongside increases in volume and new business. While pricing is normalizing from previous favorable inflation trends, it remains a component of the company's overall revenue strategy.
• High Client Retention Rates: Maintaining strong relationships with existing clients and achieving high retention rates are crucial for consistent revenue. Aramark reported an "unusual high" client retention rate above 98% in both its U.S. and international operations. More recently, client retention rates have exceeded 97% across both its Food and Support Services (FSS) U.S. and International segments.
• International Market Growth: Aramark's international segment is demonstrating strong performance and is expected to contribute significantly to future revenue growth. The FSS International segment saw an 8% increase in revenue, led by services in Latin America and the United Kingdom. International revenue also grew by 10% year-over-year, with strong contributions from the UK, Spain, Chile, and Canada. The international segment has been noted to be growing faster than the U.S. segment in the first half of fiscal year 2025.

Share Repurchases

• Aramark's Board authorized a new share repurchase program of up to $500 million in November 2024.
• Since the November 2024 authorization and as of the third quarter of fiscal year 2025, Aramark has repurchased approximately 4 million shares for an aggregate purchase price of around $140 million.
• Aramark's buyback yield for fiscal years ending October 2020 to 2024 averaged -0.6%.

Share Issuance

• Aramark's annual net common equity issued/repurchased was $0.043 billion in 2022 and $0.046 billion in 2023.
• Net common equity issued/repurchased for 2024 was $0.037 billion.

Capital Expenditures

• Aramark's historical capital expenditures were $418 million in fiscal year 2020, $408 million in 2021, $388 million in 2022, $384 million in 2023, and $427 million in 2024.
• Projected capital expenditures are $486 million for fiscal year 2025, $502 million for 2026, and $519 million for 2027.
• Capital expenditures are focused on growth in the business, including investments in digital innovations and AI-driven technology for areas like menu personalization, operational efficiency, purchasing compliance, contract productivity, and labor management.