Intrinsic value of Aramark - ARMK

Previous Close

$42.10

  Intrinsic Value

$38.02

stock screener

  Rating & Target

hold

-10%

Previous close

$42.10

 
Intrinsic value

$38.02

 
Up/down potential

-10%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of ARMK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of Aramark (ARMK) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  1.30
  3.10
  3.29
  3.46
  3.61
  3.75
  3.88
  3.99
  4.09
  4.18
  4.26
  4.34
  4.40
  4.46
  4.52
  4.57
  4.61
  4.65
  4.68
  4.71
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
  4.89
  4.90
  4.91
Revenue, $m
  14,604
  15,057
  15,552
  16,090
  16,672
  17,298
  17,969
  18,686
  19,450
  20,263
  21,127
  22,044
  23,015
  24,042
  25,128
  26,275
  27,486
  28,764
  30,111
  31,530
  33,026
  34,601
  36,259
  38,004
  39,840
  41,772
  43,803
  45,940
  48,186
  50,548
  53,030
Variable operating expenses, $m
 
  10,073
  10,389
  10,733
  11,103
  11,503
  11,930
  12,388
  12,875
  13,394
  13,945
  14,058
  14,677
  15,332
  16,024
  16,756
  17,528
  18,343
  19,202
  20,107
  21,061
  22,065
  23,123
  24,235
  25,406
  26,638
  27,934
  29,296
  30,729
  32,235
  33,817
Fixed operating expenses, $m
 
  4,211
  4,316
  4,424
  4,534
  4,648
  4,764
  4,883
  5,005
  5,130
  5,259
  5,390
  5,525
  5,663
  5,804
  5,950
  6,098
  6,251
  6,407
  6,567
  6,731
  6,900
  7,072
  7,249
  7,430
  7,616
  7,806
  8,002
  8,202
  8,407
  8,617
Total operating expenses, $m
  13,796
  14,284
  14,705
  15,157
  15,637
  16,151
  16,694
  17,271
  17,880
  18,524
  19,204
  19,448
  20,202
  20,995
  21,828
  22,706
  23,626
  24,594
  25,609
  26,674
  27,792
  28,965
  30,195
  31,484
  32,836
  34,254
  35,740
  37,298
  38,931
  40,642
  42,434
Operating income, $m
  808
  773
  847
  934
  1,034
  1,147
  1,274
  1,415
  1,570
  1,739
  1,924
  2,596
  2,813
  3,047
  3,299
  3,570
  3,860
  4,170
  4,502
  4,856
  5,234
  5,636
  6,064
  6,520
  7,004
  7,518
  8,063
  8,642
  9,256
  9,906
  10,595
EBITDA, $m
  1,316
  1,409
  1,489
  1,582
  1,689
  1,809
  1,943
  2,092
  2,255
  2,433
  2,628
  2,838
  3,066
  3,311
  3,575
  3,858
  4,161
  4,486
  4,832
  5,202
  5,596
  6,015
  6,462
  6,936
  7,441
  7,976
  8,544
  9,146
  9,784
  10,461
  11,177
Interest expense (income), $m
  202
  197
  207
  218
  230
  243
  257
  272
  288
  304
  322
  341
  362
  383
  406
  430
  455
  482
  510
  539
  571
  604
  639
  675
  714
  754
  797
  841
  889
  938
  990
Earnings before tax, $m
  521
  575
  639
  716
  804
  904
  1,017
  1,143
  1,282
  1,435
  1,602
  2,255
  2,452
  2,664
  2,894
  3,140
  3,405
  3,688
  3,992
  4,316
  4,663
  5,032
  5,426
  5,844
  6,290
  6,764
  7,267
  7,801
  8,367
  8,968
  9,605
Tax expense, $m
  147
  155
  173
  193
  217
  244
  275
  309
  346
  387
  432
  609
  662
  719
  781
  848
  919
  996
  1,078
  1,165
  1,259
  1,359
  1,465
  1,578
  1,698
  1,826
  1,962
  2,106
  2,259
  2,421
  2,593
Net income, $m
  374
  420
  467
  522
  587
  660
  743
  835
  936
  1,048
  1,169
  1,646
  1,790
  1,945
  2,112
  2,292
  2,485
  2,693
  2,914
  3,151
  3,404
  3,673
  3,961
  4,266
  4,592
  4,937
  5,305
  5,694
  6,108
  6,547
  7,012

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  239
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  11,006
  11,104
  11,469
  11,866
  12,295
  12,756
  13,251
  13,780
  14,344
  14,944
  15,581
  16,257
  16,972
  17,730
  18,531
  19,377
  20,270
  21,212
  22,205
  23,252
  24,355
  25,517
  26,740
  28,027
  29,381
  30,805
  32,303
  33,879
  35,535
  37,277
  39,107
Adjusted assets (=assets-cash), $m
  10,767
  11,104
  11,469
  11,866
  12,295
  12,756
  13,251
  13,780
  14,344
  14,944
  15,581
  16,257
  16,972
  17,730
  18,531
  19,377
  20,270
  21,212
  22,205
  23,252
  24,355
  25,517
  26,740
  28,027
  29,381
  30,805
  32,303
  33,879
  35,535
  37,277
  39,107
Revenue / Adjusted assets
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
  1.356
Average production assets, $m
  2,149
  2,213
  2,286
  2,365
  2,451
  2,543
  2,641
  2,747
  2,859
  2,979
  3,106
  3,240
  3,383
  3,534
  3,694
  3,862
  4,040
  4,228
  4,426
  4,635
  4,855
  5,086
  5,330
  5,587
  5,857
  6,140
  6,439
  6,753
  7,083
  7,430
  7,795
Working capital, $m
  285
  120
  124
  129
  133
  138
  144
  149
  156
  162
  169
  176
  184
  192
  201
  210
  220
  230
  241
  252
  264
  277
  290
  304
  319
  334
  350
  368
  385
  404
  424
Total debt, $m
  5,268
  5,460
  5,747
  6,060
  6,397
  6,760
  7,150
  7,566
  8,009
  8,482
  8,983
  9,515
  10,078
  10,675
  11,305
  11,971
  12,673
  13,415
  14,197
  15,021
  15,889
  16,803
  17,765
  18,778
  19,844
  20,965
  22,144
  23,384
  24,687
  26,058
  27,499
Total liabilities, $m
  8,547
  8,739
  9,026
  9,339
  9,676
  10,039
  10,429
  10,845
  11,288
  11,761
  12,262
  12,794
  13,357
  13,954
  14,584
  15,250
  15,952
  16,694
  17,476
  18,300
  19,168
  20,082
  21,044
  22,057
  23,123
  24,244
  25,423
  26,663
  27,966
  29,337
  30,778
Total equity, $m
  2,459
  2,365
  2,443
  2,527
  2,619
  2,717
  2,822
  2,935
  3,055
  3,183
  3,319
  3,463
  3,615
  3,776
  3,947
  4,127
  4,317
  4,518
  4,730
  4,953
  5,188
  5,435
  5,696
  5,970
  6,258
  6,562
  6,881
  7,216
  7,569
  7,940
  8,330
Total liabilities and equity, $m
  11,006
  11,104
  11,469
  11,866
  12,295
  12,756
  13,251
  13,780
  14,343
  14,944
  15,581
  16,257
  16,972
  17,730
  18,531
  19,377
  20,269
  21,212
  22,206
  23,253
  24,356
  25,517
  26,740
  28,027
  29,381
  30,806
  32,304
  33,879
  35,535
  37,277
  39,108
Debt-to-equity ratio
  2.142
  2.310
  2.350
  2.400
  2.440
  2.490
  2.530
  2.580
  2.620
  2.660
  2.710
  2.750
  2.790
  2.830
  2.860
  2.900
  2.940
  2.970
  3.000
  3.030
  3.060
  3.090
  3.120
  3.150
  3.170
  3.200
  3.220
  3.240
  3.260
  3.280
  3.300
Adjusted equity ratio
  0.206
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213
  0.213

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  374
  420
  467
  522
  587
  660
  743
  835
  936
  1,048
  1,169
  1,646
  1,790
  1,945
  2,112
  2,292
  2,485
  2,693
  2,914
  3,151
  3,404
  3,673
  3,961
  4,266
  4,592
  4,937
  5,305
  5,694
  6,108
  6,547
  7,012
Depreciation, amort., depletion, $m
  508
  637
  642
  648
  654
  661
  669
  677
  685
  694
  703
  242
  252
  264
  276
  288
  302
  316
  330
  346
  362
  380
  398
  417
  437
  458
  481
  504
  529
  555
  582
Funds from operations, $m
  1,197
  1,057
  1,109
  1,170
  1,241
  1,322
  1,411
  1,511
  1,621
  1,741
  1,873
  1,888
  2,042
  2,209
  2,388
  2,580
  2,787
  3,008
  3,244
  3,497
  3,766
  4,053
  4,358
  4,683
  5,029
  5,396
  5,785
  6,198
  6,637
  7,101
  7,594
Change in working capital, $m
  144
  4
  4
  4
  5
  5
  5
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  15
  16
  17
  18
  19
  20
Cash from operations, $m
  1,053
  1,053
  1,105
  1,166
  1,237
  1,317
  1,406
  1,505
  1,615
  1,735
  1,866
  1,881
  2,034
  2,200
  2,379
  2,571
  2,777
  2,998
  3,234
  3,486
  3,754
  4,040
  4,345
  4,669
  5,014
  5,380
  5,769
  6,181
  6,619
  7,082
  7,574
Maintenance CAPEX, $m
  0
  -160
  -165
  -171
  -177
  -183
  -190
  -197
  -205
  -213
  -222
  -232
  -242
  -252
  -264
  -276
  -288
  -302
  -316
  -330
  -346
  -362
  -380
  -398
  -417
  -437
  -458
  -481
  -504
  -529
  -555
New CAPEX, $m
  -553
  -64
  -73
  -79
  -86
  -92
  -99
  -105
  -112
  -120
  -127
  -135
  -143
  -151
  -160
  -169
  -178
  -188
  -198
  -209
  -220
  -232
  -244
  -257
  -270
  -284
  -299
  -314
  -330
  -347
  -365
Cash from investing activities, $m
  -678
  -224
  -238
  -250
  -263
  -275
  -289
  -302
  -317
  -333
  -349
  -367
  -385
  -403
  -424
  -445
  -466
  -490
  -514
  -539
  -566
  -594
  -624
  -655
  -687
  -721
  -757
  -795
  -834
  -876
  -920
Free cash flow, $m
  375
  828
  867
  916
  975
  1,042
  1,118
  1,203
  1,298
  1,402
  1,517
  1,514
  1,650
  1,797
  1,956
  2,127
  2,311
  2,509
  2,720
  2,947
  3,188
  3,447
  3,722
  4,015
  4,327
  4,659
  5,012
  5,387
  5,785
  6,207
  6,654
Issuance/(repayment) of debt, $m
  -61
  270
  288
  312
  338
  363
  389
  416
  444
  472
  501
  532
  563
  596
  630
  666
  703
  741
  782
  824
  868
  914
  962
  1,013
  1,066
  1,121
  1,179
  1,240
  1,304
  1,371
  1,441
Issuance/(repurchase) of shares, $m
  -71
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -188
  270
  288
  312
  338
  363
  389
  416
  444
  472
  501
  532
  563
  596
  630
  666
  703
  741
  782
  824
  868
  914
  962
  1,013
  1,066
  1,121
  1,179
  1,240
  1,304
  1,371
  1,441
Total cash flow (excl. dividends), $m
  187
  1,098
  1,154
  1,229
  1,312
  1,405
  1,507
  1,619
  1,741
  1,874
  2,018
  2,046
  2,213
  2,393
  2,586
  2,793
  3,014
  3,250
  3,502
  3,770
  4,056
  4,361
  4,684
  5,028
  5,393
  5,780
  6,191
  6,627
  7,088
  7,577
  8,095
Retained Cash Flow (-), $m
  -298
  -67
  -78
  -85
  -91
  -98
  -105
  -113
  -120
  -128
  -136
  -144
  -152
  -161
  -171
  -180
  -190
  -201
  -212
  -223
  -235
  -247
  -260
  -274
  -288
  -303
  -319
  -336
  -353
  -371
  -390
Prev. year cash balance distribution, $m
 
  161
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,192
  1,077
  1,144
  1,221
  1,307
  1,402
  1,506
  1,621
  1,746
  1,882
  1,902
  2,061
  2,232
  2,416
  2,613
  2,824
  3,049
  3,290
  3,547
  3,822
  4,113
  4,424
  4,754
  5,105
  5,477
  5,872
  6,291
  6,735
  7,206
  7,705
Discount rate, %
 
  9.50
  9.98
  10.47
  11.00
  11.55
  12.12
  12.73
  13.37
  14.04
  14.74
  15.47
  16.25
  17.06
  17.91
  18.81
  19.75
  20.74
  21.77
  22.86
  24.01
  25.21
  26.47
  27.79
  29.18
  30.64
  32.17
  33.78
  35.47
  37.24
  39.10
PV of cash for distribution, $m
 
  1,089
  890
  849
  804
  757
  705
  651
  594
  535
  476
  391
  338
  288
  241
  197
  158
  124
  95
  71
  52
  37
  25
  17
  11
  7
  4
  2
  1
  1
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform). FSS North America and FSS International segments include food, refreshment, specialized dietary and support services, including facility maintenance and housekeeping, provided to business, educational and healthcare institutions and in sports, leisure and other facilities. The Uniform segment includes rental, sale, cleaning, maintenance and delivery of personalized uniforms and other textile items to clients in a range of industries in the United States, Puerto Rico, Japan and Canada, including manufacturing, transportation, construction, restaurants and hotels, healthcare and pharmaceutical industries.

FINANCIAL RATIOS  of  Aramark (ARMK)

Valuation Ratios
P/E Ratio 27.6
Price to Sales 0.7
Price to Book 4.2
Price to Tangible Book
Price to Cash Flow 9.8
Price to Free Cash Flow 20.7
Growth Rates
Sales Growth Rate 1.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 7.8%
Cap. Spend. - 3 Yr. Gr. Rate 0.3%
Financial Strength
Quick Ratio 3
Current Ratio 0
LT Debt to Equity 211.1%
Total Debt to Equity 214.2%
Interest Coverage 4
Management Effectiveness
Return On Assets 4.8%
Ret/ On Assets - 3 Yr. Avg. 4.5%
Return On Total Capital 4.9%
Ret/ On T. Cap. - 3 Yr. Avg. 4.1%
Return On Equity 16.2%
Return On Equity - 3 Yr. Avg. 14.5%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 11.1%
Gross Margin - 3 Yr. Avg. 10.6%
EBITDA Margin 8.4%
EBITDA Margin - 3 Yr. Avg. 8.2%
Operating Margin 5.5%
Oper. Margin - 3 Yr. Avg. 5%
Pre-Tax Margin 3.6%
Pre-Tax Margin - 3 Yr. Avg. 3%
Net Profit Margin 2.6%
Net Profit Margin - 3 Yr. Avg. 2.1%
Effective Tax Rate 28.2%
Eff/ Tax Rate - 3 Yr. Avg. 30.7%
Payout Ratio 27%

ARMK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ARMK stock intrinsic value calculation we used $14604 million for the last fiscal year's total revenue generated by Aramark. The default revenue input number comes from 2017 income statement of Aramark. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ARMK stock valuation model: a) initial revenue growth rate of 3.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.5%, whose default value for ARMK is calculated based on our internal credit rating of Aramark, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Aramark.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ARMK stock the variable cost ratio is equal to 67%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $4108 million in the base year in the intrinsic value calculation for ARMK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.8% for Aramark.

Corporate tax rate of 27% is the nominal tax rate for Aramark. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ARMK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ARMK are equal to 14.7%.

Life of production assets of 13.4 years is the average useful life of capital assets used in Aramark operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ARMK is equal to 0.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2459 million for Aramark - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 247.543 million for Aramark is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Aramark at the current share price and the inputted number of shares is $10.4 billion.

RELATED COMPANIES Price Int.Val. Rating
CTAS Cintas 169.99 190.52  buy
UNF UniFirst 158.95 103.66  sell
ABM ABM Industries 36.75 85.90  str.buy
SERV ServiceMaster 54.28 36.52  sell

COMPANY NEWS

▶ Should You Buy Aramark (NYSE:ARMK) Now?   [Feb-09-18 08:52AM  Simply Wall St.]
▶ Aramark taking $30M+ hit for recent job cuts, SEC documents show   [Feb-07-18 05:15PM  American City Business Journals]
▶ Aramark to Host Earnings Call   [08:00AM  ACCESSWIRE]
▶ Aramark Declares Quarterly Dividend   [Jan-31-18 04:41PM  Business Wire]
▶ U.S. Bank Stadium to feature new foods during Super Bowl LII (gallery)   [Jan-24-18 08:40PM  American City Business Journals]
▶ Aramark completes $2.35B in deals   [Jan-22-18 12:30PM  American City Business Journals]
▶ Aramark Announces Offering of Senior Notes   [08:29AM  Business Wire]
▶ Aramark Named a Top 50 Company for Diversity   [Jan-09-18 08:00AM  Business Wire]
▶ ETFs with exposure to Aramark : December 26, 2017   [Dec-26-17 11:12AM  Capital Cube]
▶ ETFs with exposure to Aramark : December 14, 2017   [Dec-14-17 12:50PM  Capital Cube]
▶ Marriott rakes in $659 million with close of Avendra sale   [09:29AM  American City Business Journals]
▶ Aramark Completes Purchase Of Avendra   [Dec-11-17 04:30PM  PR Newswire]
▶ Aramark Completes Acquisition of Avendra   [04:15PM  Business Wire]
▶ Stocks Generating Improved Relative Strength: Aramark   [Dec-04-17 03:00AM  Investor's Business Daily]
▶ Aramark Earns Technical Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ ETFs with exposure to Aramark : November 29, 2017   [Nov-29-17 11:00AM  Capital Cube]
▶ American Airlines uniform vendor finalists: Handicapping the field   [Nov-20-17 04:57PM  American City Business Journals]
▶ Aramark Value Analysis (NYSE:ARMK) : November 16, 2017   [Nov-16-17 12:28PM  Capital Cube]
▶ Aramark to Host Earnings Call   [07:40AM  ACCESSWIRE]
▶ TJX and Dick's Sporting Goods fall; Buffalo Wild Wings soars   [Nov-14-17 04:42PM  Associated Press]
▶ Aramark misses Street 4Q forecasts   [06:50AM  Associated Press]
▶ Company Profile for Aramark   [Nov-10-17 10:40AM  Business Wire]
▶ Cintas a 'terrific' play on job growth   [Oct-16-17 07:01PM  CNBC Videos]
▶ M&A Monday: Nordstrom, Aramark, Ruby Tuesday Make Moves   [04:08PM  Investor's Business Daily]
▶ AmeriPride to be sold to Aramark for $1 billion   [01:51PM  American City Business Journals]
▶ Aramark agrees to 2 separate acquisitions totaling $2.35B   [12:25PM  American City Business Journals]
▶ News Update Market Open   [10:08AM  CNBC Videos]
▶ What to watch when Netflix delivers earnings   [09:15AM  Yahoo Finance]
▶ Avendra To Be Purchased By Aramark   [12:40AM  PR Newswire]
▶ [$$] Aramark to Buy Avendra and AmeriPride   [12:00AM  The Wall Street Journal]
▶ Aramark Hires Former Cruise Line CIO   [Sep-14-17 04:26PM  The Wall Street Journal]
▶ American Airlines unveils markedly different plan to develop new uniforms   [Aug-29-17 02:51PM  American City Business Journals]
▶ ETFs with exposure to Aramark : August 28, 2017   [Aug-28-17 04:44PM  Capital Cube]
▶ Aramark Value Analysis (NYSE:ARMK) : August 14, 2017   [Aug-14-17 05:34PM  Capital Cube]
▶ Aramark misses Street 3Q forecasts   [Aug-08-17 11:55PM  Associated Press]
▶ Houston convention center, arts venues cease contracts with Aramark   [08:55AM  American City Business Journals]
Financial statements of ARMK
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