Aramark (ARMK) Company Report

Venu Holding Corporation (VENU) is transforming into a national-scale entertainment-infrastructure owner, with an intrinsic value estimated at $20+ per share today based on conservative assumptions.
As of September 30, 2025, VENU reported $314.8 million in total assets, a significant increase from the prior year, with property and equipment rising 76% year-over-year.
The company currently has over $1.1 billion in active construction underway, which is expected to convert into completed assets and re-rate the balance sheet higher.
VENU employs a low-leverage capital structure, ensuring that asset value increases and appraisal premiums flow directly to equity holders rather than being absorbed by debt.

Nov 17, 2025, 2:10 PM

Press Release

Aramark Reports Strong Q4 and Full-Year 2025 Results, Provides Positive Fiscal 2026 Guidance

ARMK

Earnings

Guidance Update

Revenue Acceleration/Inflection

Aramark reported Q4 2025 organic revenue growth of 14% and full-year GAAP revenue of $18.5 billion, up 6% from the prior year.
For fiscal 2025, adjusted EPS increased almost 20% to $1.82 on a constant currency basis, and free cash flow grew over 40% to $454 million.
The company achieved $1.6 billion in annualized gross new wins and an industry-leading client retention rate of 96.3% in fiscal 2025, contributing to 5.6% net new business.
Aramark projects strong fiscal 2026 performance with organic revenue guidance of $19.45 billion to $19.85 billion (7%-9% growth) and adjusted EPS guidance of $2.18 to $2.28 (20%-25% growth).
The consolidated leverage ratio improved to 3.25 times at the end of September 2025, with a target to be below three times in fiscal 2026.

Nov 17, 2025, 1:30 PM

Transcript

Aramark Reports Strong Q4 and Full-Year 2025 Results, Provides Optimistic Fiscal 2026 Guidance

ARMK

Earnings

Guidance Update

Revenue Acceleration/Inflection

Aramark reported Q4 2025 organic revenue growth of 14% and full-year organic revenue growth of 7%, with full-year GAAP revenue reaching $18.5 billion.
For fiscal year 2025, Adjusted Operating Income (AOI) increased 12% to $981 million and Adjusted EPS grew almost 20% to $1.82 on a constant currency basis.
The company achieved $1.6 billion in annualized gross new wins and an industry-leading client retention rate of 96.3%, contributing to 5.6% net new business.
Aramark's leverage ratio improved to 3.25 times at the end of September, the lowest in nearly 20 years, and free cash flow grew over 40% to $454 million for fiscal 2025.
For fiscal 2026, Aramark projects organic revenue of $19.45 billion-$19.85 billion (7%-9% growth), AOI of $1.1 billion-$1.15 billion (12%-17% growth), and Adjusted EPS of $2.18-$2.28 (20%-25% growth).

Nov 17, 2025, 1:30 PM

Transcript

Aramark Reports Strong Q4 and Full-Year 2025 Results, Provides Optimistic FY 2026 Guidance

ARMK

Earnings

Guidance Update

Revenue Acceleration/Inflection

Aramark reported a 14% organic revenue increase in Q4 2025 and 7% for the full fiscal year 2025, with GAAP revenue reaching $18.5 billion.
The company achieved annualized gross new wins of $1.6 billion, an industry-leading client retention rate of 96.3%, and net new business of 5.6% in fiscal 2025.
Fiscal year 2025 saw strong cash generation, with $921 million in net cash from operating activities and $454 million in free cash flow, leading to a reduced leverage ratio of 3.25 times.
For fiscal year 2026, Aramark anticipates organic revenue between $19.45 billion and $19.85 billion (7%-9% growth), AOI of $1.1 billion to $1.15 billion (12%-17% increase), and adjusted EPS in the range of $2.18 to $2.28 (20%-25% growth).
The company secured significant new contracts, including the University of Pennsylvania Health System, its largest-ever U.S. win, and increased its quarterly dividend by 14%.

Nov 17, 2025, 1:30 PM

Transcript

Aramark Reports Strong Fiscal 2025 Results and Positive 2026 Outlook

ARMK

Earnings

Guidance Update

Share Buyback

Aramark reported strong fiscal year 2025 results, with revenue increasing 6% to $18,506 million and Adjusted Operating Income (AOI) growing 12% to $981 million. Adjusted EPS rose 19% to $1.82.
For the fourth quarter of fiscal 2025, revenue grew to $5,048 million with 14% organic revenue growth, and Adjusted Operating Income increased 6% to $289 million.
The company provided a positive fiscal 2026 outlook, anticipating revenue between $19,550 million and $19,950 million (7% to 9% organic growth), Adjusted Operating Income between $1,100 million and $1,150 million (12% to 17% growth), and Adjusted EPS between $2.18 and $2.28 (20% to 25% growth).
Aramark demonstrated a commitment to shareholder returns and financial strength in fiscal 2025 by repurchasing over 4 million shares and raising its quarterly dividend by 14% to $0.12 per share. The company also aims to reduce its Net Debt to Covenant Adjusted EBITDA leverage ratio to under 3.0x by the end of fiscal 2026 from 3.25x at the end of fiscal 2025.

Nov 17, 2025, 1:30 PM

Presentation

Aramark Reports Strong Fiscal 2025 Earnings and Provides Positive Fiscal 2026 Outlook

ARMK

Earnings

Guidance Update

Dividends

Aramark reported strong fiscal 2025 results, with revenue increasing 6% to $18.5 billion and Adjusted EPS growing 19% to $1.82.
The company achieved record annualized gross new business of $1.6 billion and a client retention rate of 96.3% in fiscal 2025.
Aramark's leverage ratio improved to 3.25x, the lowest level in nearly 20 years, and the company increased its quarterly dividend by 14%.
For fiscal 2026, Aramark anticipates organic revenue growth of 7% to 9%, Adjusted Operating Income growth of 12% to 17%, and Adjusted EPS growth of 20% to 25%.

Nov 17, 2025, 11:36 AM

8-K

VENU's $350M McKinney Sunset Amphitheater Reaches Key Construction Milestones

ARMK

New Projects/Investments

Revenue Acceleration/Inflection

VENU's $350 million Sunset Amphitheater in McKinney, Texas, is progressing on schedule for its inaugural concert season in 2026, with a projected 80+ shows annually.
The project has generated $23 million in FireSuite revenue in 60 days, marking a 250% year-over-year increase, and nearly 49% of company-wide FireSuite inventory is sold across multiple locations.
The McKinney amphitheater is anticipated to generate $3.8 billion in local economic impact over the next decade.
VENU's total development pipeline exceeds $5 billion, with $1.3 billion currently under construction, as the company aims to build 40 venues by 2030.

Oct 27, 2025, 12:15 PM

Press Release

VENU Launches National Ad Campaign and Reports Strong Growth

ARMK

New Projects/Investments

Product Launch

Revenue Acceleration/Inflection

VENU (NYSE American: VENU) has launched a national advertising campaign for its Luxe FireSuites fractional ownership program, running from October 15th to November 15th.
FireSuite sales reached $23 million in 60 days, demonstrating 250% year-over-year growth.
For Q2 2025, VENU reported a 36% increase in assets to $242 million and a 34% year-to-date rise in FireSuite/Aikman Club sales to $61.3 million.
The company has a $5 billion development pipeline, with $1.3 billion currently under construction, and is deploying approximately $45 million into expansion projects.
VENU targets 40 venues by 2030 and plans to debut a blockchain-based ticketing and membership platform in early 2026.

Oct 24, 2025, 12:57 PM

Press Release

VENU Positioned for Growth in Expanding Music Event Market

ARMK

New Projects/Investments

Revenue Acceleration/Inflection

The global music event industry is projected to grow from $164.85 billion in 2024 to $408.54 billion by 2034, representing a projected CAGR of 9.5%.
VENU has achieved $23 million in FireSuite sales in the past 60 days, with sales up 250% year-over-year.
The company has a $5 billion development pipeline and $1.3 billion in current construction across Texas, Colorado, Oklahoma, and Georgia.
VENU is rolling out 20+ next-generation amphitheaters and aims to build a network of 40 venues by 2030.

Oct 20, 2025, 1:15 PM

Press Release

VENU Announces Significant Expansion and Development Plans

ARMK

New Projects/Investments

Revenue Acceleration/Inflection

Guidance Update

VENU is developing a $5 billion construction pipeline to establish a national network of 20+ next-generation amphitheaters, with $1.3 billion in active construction already underway across Texas, Colorado, Oklahoma, and Georgia.
The company reported $23 million in Luxe FireSuite sales in just 60 days, reflecting a 250% year-over-year increase.
VENU aims to expand to a 40-venue national footprint by 2030, including 25 outdoor amphitheaters and 15 indoor music halls, forecasting a $17.7 billion economic impact over the next 20 years.
New multi-season amphitheater renderings for McKinney, Texas, and Broken Arrow, Oklahoma, have been unveiled, and the company has secured backing from high-profile stakeholders like Dierks Bentley.