ARKO (ARKO) Financials

$7.64 +0.14 (+1.80%)

As of 02:10 PM Eastern

Annual Income Statements for ARKO

This table shows ARKO's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-44	10	53	66	29	15	17
Consolidated Net Income / (Loss)	-47	31	59	72	35	21	23
Net Income / (Loss) Continuing Operations	-47	31	59	72	35	21	23
Total Pre-Tax Income	-40	30	71	108	47	27	29
Total Operating Income	1.32	80	142	167	118	94	102
Total Gross Profit	1,140	1,346	1,511	2,286	2,537	2,460	2,164
Total Revenue	4,129	4,010	7,417	9,143	9,413	8,732	7,643
Operating Revenue	4,129	4,010	7,417	9,143	9,413	8,732	7,643
Total Cost of Revenue	2,989	2,664	5,906	6,857	6,876	6,272	5,480
Operating Cost of Revenue	2,989	2,664	5,906	6,857	6,876	6,272	5,480
Total Operating Expenses	1,138	1,266	1,369	2,119	2,419	2,366	2,061
Selling, General & Admin Expense	69	94	125	140	165	163	166
Depreciation Expense	62	74	97	102	128	132	134
Other Operating Expenses / (Income)	1,007	1,097	1,147	1,877	2,126	2,071	1,761
Total Other Income / (Expense), net	-42	-50	-71	-59	-71	-67	-73
Interest Expense	43	52	74	63	92	98	93
Interest & Investment Income	1.45	1.77	3.01	3.18	20	31	20
Income Tax Expense	6.17	-1.50	12	36	12	6.14	6.34
Other Gains / (Losses), net	-0.51	-1.27	0.19	-0.07	-0.04	0.12	0.11
Preferred Stock Dividends Declared	-	3.28	5.74	5.75	5.75	5.75	5.75
Net Income / (Loss) Attributable to Noncontrolling Interest	-3.62	17	0.23	0.23	0.20	0.00	0.00
Basic Earnings per Share	($0.65)	$0.15	$0.43	$0.54	$0.24	$0.13	$0.15
Weighted Average Basic Shares Outstanding	66.70M	71.07M	124.41M	121.48M	118.78M	116.14M	113.31M
Diluted Earnings per Share	($0.65)	$0.15	$0.42	$0.53	$0.24	$0.13	$0.15
Weighted Average Diluted Shares Outstanding	66.70M	71.07M	125.44M	123.22M	119.61M	116.95M	114.98M
Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	120.17M	116.18M	115.77M	110.89M

This table shows ARKO's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	20	-0.37	-2.01	13	8.23	-3.74	-14	19	12	0.41	-8.06
Consolidated Net Income / (Loss)	21	1.13	-0.59	14	9.67	-2.30	-13	20	13	1.86	-5.59
Net Income / (Loss) Continuing Operations	21	1.13	-0.59	14	9.65	-2.30	-13	20	13	1.95	-5.59
Total Pre-Tax Income	29	2.41	-7.32	22	18	-5.34	-26	37	16	1.64	-8.11
Total Operating Income	44	25	-4.87	43	42	14	-12	57	36	21	10
Total Gross Profit	698	620	570	661	653	576	504	582	568	510	471
Total Revenue	2,622	2,233	2,072	2,388	2,279	1,992	1,829	2,000	2,021	1,794	1,772
Operating Revenue	2,622	2,233	2,072	2,388	2,279	1,992	1,829	2,000	2,021	1,794	1,772
Total Cost of Revenue	1,924	1,613	1,502	1,727	1,626	1,416	1,326	1,418	1,453	1,284	1,301
Operating Cost of Revenue	1,924	1,613	1,502	1,727	1,626	1,416	1,326	1,418	1,453	1,284	1,301
Total Operating Expenses	654	595	575	618	611	562	516	525	532	489	461
Selling, General & Admin Expense	44	38	42	42	39	40	42	41	40	43	40
Depreciation Expense	34	33	32	34	33	34	35	34	33	33	32
Other Operating Expenses / (Income)	576	524	501	542	540	488	439	451	459	412	389
Total Other Income / (Expense), net	-15	-23	-2.46	-21	-24	-20	-14	-19	-20	-20	-18
Interest Expense	24	24	24	25	27	22	23	23	23	23	21
Interest & Investment Income	9.37	1.26	22	3.41	3.16	2.06	9.48	3.73	3.39	2.92	2.57
Income Tax Expense	7.99	1.32	-6.71	7.55	8.30	-3.00	-13	17	2.37	-0.20	-2.50
Other Gains / (Losses), net	-0.01	0.04	0.02	-	-	0.05	0.02	-	-	-	0.02
Preferred Stock Dividends Declared	1.45	1.45	1.41	1.45	1.45	1.45	1.42	1.43	1.45	1.45	1.42
Net Income / (Loss) Attributable to Noncontrolling Interest	0.05	0.05	-	-	-	-	0.00	-	-	-	1.05
Basic Earnings per Share	$0.17	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.11	-	($0.07)
Weighted Average Basic Shares Outstanding	118.39M	118.78M	117.28M	115.76M	115.77M	116.14M	115.88M	114.01M	112.72M	113.31M	111.32M
Diluted Earnings per Share	$0.17	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.10	$0.01	($0.07)
Weighted Average Diluted Shares Outstanding	120.29M	119.61M	117.28M	116.88M	117.89M	116.95M	115.88M	115.41M	115.20M	114.98M	111.32M
Weighted Average Basic & Diluted Shares Outstanding	116.81M	116.18M	115.74M	115.77M	115.77M	115.77M	113.95M	112.74M	111.43M	110.89M	112.19M

This table details how cash moves in and out of ARKO's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1.95	257	-39	44	-75	51	31
Net Cash From Operating Activities	43	174	159	209	136	222	193
Net Cash From Continuing Operating Activities	43	174	159	209	136	222	193
Net Income / (Loss) Continuing Operations	-47	31	59	72	35	21	23
Consolidated Net Income / (Loss)	-47	31	59	72	35	21	23
Depreciation Expense	62	74	97	102	128	132	134
Amortization Expense	-8.33	-5.41	-1.02	-7.21	-5.62	-12	-19
Non-Cash Adjustments To Reconcile Net Income	19	24	18	25	28	17	8.55
Changes in Operating Assets and Liabilities, net	18	51	-15	18	-49	64	46
Net Cash From Investing Activities	-73	-408	-172	-175	-297	-115	-120
Net Cash From Continuing Investing Activities	-73	-408	-172	-175	-297	-115	-120
Purchase of Property, Plant & Equipment	-58	-45	-226	-99	-111	-114	-127
Acquisitions	-34	-364	-203	-424	-496	-55	-0.33
Sale of Property, Plant & Equipment	19	1.30	285	288	310	54	7.20
Sale and/or Maturity of Investments	-	0.00	-27	59	0.00	0.00	0.00
Other Investing Activities, net	-	-0.19	0.00	0.17	0.02	0.06	0.62
Net Cash From Financing Activities	32	491	-26	11	85	-56	-42
Net Cash From Continuing Financing Activities	32	491	-26	11	85	-56	-42
Repayment of Debt	-19	-54	-532	-46	-22	-26	-24
Repurchase of Common Equity	-	0.00	0.00	-40	-34	-32	-28
Payment of Dividends	-8.65	-8.71	-11	-17	-20	-20	-19
Issuance of Debt	51	570	484	71	100	48	39
Other Financing Activities, net	8.34	-133	32	43	62	-25	-8.91
Cash Interest Paid	31	40	51	58	82	92	87
Cash Interest Received	1.81	1.32	0.43	1.96	7.94	9.49	11
Cash Income Taxes Paid	2.78	1.16	15	6.75	29	9.66	5.04

This table details how cash moves in and out of ARKO's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-15	21	-36	45	68	-27	-2.87	27	9.24	-2.01	-35
Net Cash From Operating Activities	33	57	13	77	109	23	43	55	49	45	19
Net Cash From Continuing Operating Activities	33	57	13	77	109	23	43	55	49	45	19
Net Income / (Loss) Continuing Operations	21	1.13	-0.59	14	9.67	-2.30	-13	20	13	1.86	-5.59
Consolidated Net Income / (Loss)	21	1.13	-0.59	14	9.67	-2.30	-13	20	13	1.86	-5.59
Depreciation Expense	34	33	32	34	33	34	35	34	33	33	32
Amortization Expense	-1.73	-1.18	-1.28	-3.76	-3.09	-3.68	-4.33	-3.08	-5.83	-5.67	-4.92
Non-Cash Adjustments To Reconcile Net Income	5.47	7.84	-9.38	6.70	9.65	9.77	1.93	-11	7.65	10	9.57
Changes in Operating Assets and Liabilities, net	-26	17	-7.70	27	60	-15	24	16	1.20	5.22	-13
Net Cash From Investing Activities	-28	-33	-28	-24	-28	-34	-27	-44	-23	-26	-29
Net Cash From Continuing Investing Activities	-28	-33	-28	-24	-28	-34	-27	-44	-23	-26	-29
Purchase of Property, Plant & Equipment	-26	-36	-29	-19	-29	-36	-27	-45	-25	-30	-30
Sale of Property, Plant & Equipment	11	3.13	2.04	48	1.06	2.20	0.47	1.80	1.59	3.33	0.93
Other Investing Activities, net	-	0.02	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.57	0.00
Net Cash From Financing Activities	-19	-3.04	-20	-7.40	-13	-15	-19	15	-17	-21	-24
Net Cash From Continuing Financing Activities	-19	-3.04	-20	-7.40	-13	-15	-19	15	-17	-21	-24
Repayment of Debt	-6.01	-5.64	-6.64	-7.21	-6.71	-5.79	-5.69	-6.56	-6.38	-5.48	-214
Repurchase of Common Equity	-12	-8.50	-32	-0.07	-	-	-7.38	-9.21	-4.18	-7.19	-7.40
Payment of Dividends	-5.01	-4.95	-5.01	-4.92	-4.92	-4.92	-4.91	-4.85	-4.83	-4.78	-4.78
Issuance of Debt	4.60	21	42	5.97	-	-	0.00	37	-	1.54	0.69
Issuance of Common Equity	-	-	-	-	-	-	0.00	-	-	-	210
Other Financing Activities, net	-1.33	-4.77	-18	-1.17	-1.27	-4.71	-1.38	-1.43	-1.50	-4.60	-8.38
Cash Interest Paid	16	28	17	29	18	29	16	28	16	27	13
Cash Interest Received	1.94	1.74	1.65	2.08	2.82	2.94	2.36	2.57	3.00	2.81	2.38
Cash Income Taxes Paid	7.73	0.88	0.65	2.14	0.45	7.19	-0.29	5.74	-	-0.70	0.00

This table presents ARKO's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,740	2,942	3,255	3,650	3,621	3,535
Total Current Assets	609	684	747	749	722	718
Cash & Equivalents	294	252	299	218	262	305
Restricted Cash	18	20	18	23	31	19
Short-Term Investments	0.00	59	2.40	3.89	5.33	6.47
Accounts Receivable	47	62	118	135	96	87
Inventories, net	164	198	222	251	231	191
Other Current Assets	87	92	88	118	97	110
Plant, Property, & Equipment, net	492	549	646	743	748	740
Total Noncurrent Assets	1,639	1,710	1,862	2,159	2,151	2,078
Long-Term Investments	45	28	40	52	57	70
Noncurrent Note & Lease Receivables	198	192	182	163	158	145
Goodwill	174	198	217	292	300	300
Intangible Assets	218	186	197	215	182	160
Noncurrent Deferred & Refundable Income Taxes	41	41	23	52	68	63
Other Noncurrent Operating Assets	963	1,065	1,203	1,385	1,386	1,340
Total Liabilities & Shareholders' Equity	2,740	2,942	3,255	3,650	3,621	3,535
Total Liabilities	2,448	2,589	2,874	3,274	3,244	3,168
Total Current Liabilities	387	408	446	486	445	433
Short-Term Debt	41	40	12	17	13	37
Accounts Payable	156	173	217	214	190	157
Other Current Liabilities	190	195	217	256	242	240
Total Noncurrent Liabilities	2,061	2,180	2,428	2,788	2,798	2,735
Long-Term Debt	709	677	740	829	868	875
Capital Lease Obligations	226	229	226	213	211	200
Asset Retirement Reserve & Litigation Obligation	53	58	65	85	87	89
Other Noncurrent Operating Liabilities	1,070	1,214	1,397	1,662	1,632	1,570
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	100	100	100	100	100	100
Total Equity & Noncontrolling Interests	191	254	281	276	277	267
Total Preferred & Common Equity	192	253	281	276	277	267
Total Common Equity	192	253	281	276	277	267
Common Stock	212	218	230	245	277	292
Retained Earnings	-30	27	82	96	97	101
Treasury Stock	-	0.00	-40	-74	-106	-134
Accumulated Other Comprehensive Income / (Loss)	9.12	9.12	9.12	9.12	9.12	9.12
Noncontrolling Interest	-0.16	0.22	0.06	0.02	-	0.00

This table presents ARKO's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3,089	3,591	3,671	3,720	3,621	3,700	3,688	3,603	3,609	3,587	3,579
Total Current Assets	745	737	732	786	736	770	780	719	743	753	770
Cash & Equivalents	283	256	220	204	184	232	292	265	294	307	272
Restricted Cash	14	16	15	16	21	19	27	24	23	19	17
Short-Term Investments	2.12	3.07	3.32	3.38	4.59	4.86	5.13	5.67	5.99	6.30	7.21
Accounts Receivable	122	129	136	180	159	156	118	110	112	112	160
Inventories, net	225	245	256	266	250	251	236	221	207	202	206
Other Current Assets	99	88	101	117	116	107	101	93	101	106	107
Plant, Property, & Equipment, net	591	781	749	760	743	740	741	745	738	733	751
Total Noncurrent Assets	1,753	2,073	2,191	2,173	2,142	2,190	2,168	2,139	2,128	2,100	2,058
Long-Term Investments	33	44	43	47	54	56	55	58	64	67	72
Noncurrent Note & Lease Receivables	186	179	174	179	160	160	159	155	148	146	135
Goodwill	198	217	278	278	292	300	300	300	300	300	300
Intangible Assets	193	226	220	213	207	194	188	177	171	166	155
Noncurrent Deferred & Refundable Income Taxes	18	33	57	47	62	61	59	83	68	62	68
Other Noncurrent Operating Assets	1,127	1,374	1,419	1,408	1,365	1,419	1,406	1,366	1,376	1,360	1,328
Total Liabilities & Shareholders' Equity	3,089	3,591	3,671	3,720	3,621	3,700	3,688	3,603	3,609	3,587	3,579
Total Liabilities	2,719	3,216	3,294	3,333	3,260	3,327	3,308	3,247	3,244	3,214	3,019
Total Current Liabilities	432	491	482	528	480	488	479	463	481	466	475
Short-Term Debt	11	77	13	16	17	18	15	14	40	37	93
Accounts Payable	211	223	233	249	234	239	209	197	189	180	202
Other Current Liabilities	210	191	235	263	228	231	255	252	252	248	180
Total Noncurrent Liabilities	2,287	2,725	2,812	2,805	2,780	2,838	2,829	2,784	2,763	2,748	2,544
Long-Term Debt	722	794	810	812	868	872	869	866	877	875	691
Capital Lease Obligations	227	225	224	228	212	212	211	210	201	200	198
Asset Retirement Reserve & Litigation Obligation	64	72	80	80	85	87	87	88	88	89	90
Other Noncurrent Operating Liabilities	1,274	1,634	1,698	1,684	1,615	1,668	1,661	1,621	1,597	1,585	1,565
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	100	100	100	100	100	100	100	100	100	100	100
Total Equity & Noncontrolling Interests	270	275	278	287	261	273	280	255	265	273	460
Total Preferred & Common Equity	270	275	277	287	261	273	280	255	265	273	395
Total Common Equity	270	275	277	287	261	273	280	255	265	273	395
Common Stock	227	234	239	243	268	270	273	280	284	288	436
Retained Earnings	74	74	84	100	90	100	104	80	95	103	89
Treasury Stock	-40	-42	-54	-66	-106	-106	-106	-114	-123	-127	-139
Accumulated Other Comprehensive Income / (Loss)	9.12	9.12	9.12	9.12	9.12	9.12	9.12	9.12	9.12	9.12	9.12
Noncontrolling Interest	0.12	-0.05	0.04	-0.01	0.00	0.00	0.00	-	-	-	65

This table displays calculated financial ratios and metrics derived from ARKO's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	124,427,805.00	-	-	-	111,430,778.00
DEI Adjusted Shares Outstanding	0.00	0.00	124,427,805.00	-	-	-	111,430,778.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.43	-	-	-	0.15
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-2.87%	84.96%	23.26%	2.95%	-7.23%	-12.47%
EBITDA Growth	0.00%	169.48%	59.58%	9.78%	-8.25%	-10.57%	1.50%
EBIT Growth	0.00%	5,966.01%	76.91%	17.55%	-29.34%	-20.33%	8.80%
NOPAT Growth	0.00%	8,992.91%	40.92%	-5.84%	-21.92%	-16.94%	10.19%
Net Income Growth	0.00%	164.97%	93.96%	21.12%	-51.98%	-39.70%	9.11%
EPS Growth	0.00%	123.08%	180.00%	26.19%	-54.72%	-45.83%	15.38%
Operating Cash Flow Growth	0.00%	301.51%	-8.43%	31.45%	-34.96%	63.02%	-13.19%
Free Cash Flow Firm Growth	0.00%	0.00%	110.80%	-40.78%	-194.24%	290.53%	21.34%
Invested Capital Growth	0.00%	0.00%	3.23%	6.26%	13.72%	-1.98%	-3.17%
Revenue Q/Q Growth	0.00%	0.00%	9.64%	2.14%	0.57%	-2.69%	-2.52%
EBITDA Q/Q Growth	0.00%	0.00%	13.16%	-0.03%	-0.75%	-5.33%	1.93%
EBIT Q/Q Growth	0.00%	0.00%	16.28%	3.31%	-6.65%	-10.42%	7.43%
NOPAT Q/Q Growth	0.00%	0.00%	10.48%	-1.60%	-8.11%	-0.99%	0.07%
Net Income Q/Q Growth	0.00%	0.00%	47.37%	-0.10%	-25.34%	-14.11%	22.37%
EPS Q/Q Growth	0.00%	0.00%	162.50%	1.92%	-35.14%	-13.33%	36.36%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-4.61%	16.64%	-8.23%	-13.48%	12.80%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	126.72%	36.74%	-36.24%	27.40%
Invested Capital Q/Q Growth	0.00%	0.00%	37.02%	0.14%	-3.01%	1.65%	-0.62%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	27.60%	33.57%	20.37%	25.00%	26.95%	28.18%	28.31%
EBITDA Margin	1.34%	3.72%	3.21%	2.86%	2.55%	2.46%	2.85%
Operating Margin	0.03%	2.00%	1.92%	1.83%	1.25%	1.08%	1.34%
EBIT Margin	0.03%	2.00%	1.92%	1.83%	1.25%	1.08%	1.34%
Profit (Net Income) Margin	-1.14%	0.76%	0.80%	0.79%	0.37%	0.24%	0.30%
Tax Burden Percent	116.48%	100.76%	83.85%	66.89%	73.90%	77.59%	78.49%
Interest Burden Percent	-3,058.01%	37.86%	49.88%	64.43%	39.63%	28.57%	28.33%
Effective Tax Rate	0.00%	-4.93%	16.41%	33.04%	26.01%	22.87%	21.89%
Return on Invested Capital (ROIC)	0.00%	18.49%	12.82%	11.52%	8.17%	6.44%	7.29%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	1.19%	2.99%	4.92%	0.53%	-0.45%	-0.60%
Return on Net Nonoperating Assets (RNNOA)	0.00%	2.54%	5.60%	8.07%	0.96%	-0.91%	-1.17%
Return on Equity (ROE)	0.00%	21.03%	18.42%	19.60%	9.13%	5.54%	6.11%
Cash Return on Invested Capital (CROIC)	0.00%	-181.51%	9.65%	5.45%	-4.67%	8.44%	10.51%
Operating Return on Assets (OROA)	0.00%	2.93%	5.00%	5.39%	3.42%	2.59%	2.86%
Return on Assets (ROA)	0.00%	1.12%	2.09%	2.32%	1.00%	0.57%	0.64%
Return on Common Equity (ROCE)	0.00%	13.82%	12.71%	14.25%	6.72%	4.07%	4.47%
Return on Equity Simple (ROE_SIMPLE)	0.00%	15.99%	23.45%	25.63%	12.52%	7.53%	0.00%
Net Operating Profit after Tax (NOPAT)	0.93	84	119	112	87	73	80
NOPAT Margin	0.02%	2.10%	1.60%	1.22%	0.93%	0.83%	1.05%
Net Nonoperating Expense Percent (NNEP)	0.00%	17.30%	9.83%	6.61%	7.65%	6.90%	7.89%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	8.88%	6.54%	5.30%	5.79%
Cost of Revenue to Revenue	72.40%	66.43%	79.63%	75.00%	73.05%	71.82%	71.69%
SG&A Expenses to Revenue	1.68%	2.35%	1.68%	1.53%	1.76%	1.87%	2.17%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.57%	31.57%	18.46%	23.18%	25.70%	27.10%	26.97%
Earnings before Interest and Taxes (EBIT)	1.32	80	142	167	118	94	102
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	55	149	238	262	240	215	218
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	4.14	3.58	3.42	2.76	1.89
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.14	0.11	0.10	0.09	0.07
Price to Earnings (P/E)	0.00	0.00	19.61	15.22	33.04	50.54	29.77
Dividend Yield	0.00%	0.00%	0.00%	1.08%	1.48%	1.82%	2.64%
Earnings Yield	0.00%	0.00%	5.10%	6.57%	3.03%	1.98%	3.36%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.85	1.72	1.59	1.44	1.22
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.23	0.19	0.19	0.18	0.17
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	7.29	6.59	7.53	7.46	6.05
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	12.22	10.32	15.31	17.02	12.88
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	14.62	15.41	20.69	22.07	16.49
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	10.91	8.24	13.27	7.21	6.84
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	19.43	32.58	0.00	16.85	11.43
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	3.35	2.68	2.57	2.81	2.90	3.03
Long-Term Debt to Equity	0.00	3.21	2.56	2.54	2.77	2.86	2.93
Financial Leverage	0.00	2.13	1.87	1.64	1.82	1.99	1.95
Leverage Ratio	0.00	9.40	8.81	8.44	9.12	9.66	9.62
Compound Leverage Factor	0.00	3.56	4.39	5.44	3.62	2.76	2.72
Debt to Total Capital	0.00%	77.01%	72.79%	71.97%	73.78%	74.34%	75.17%
Short-Term Debt to Total Capital	0.00%	3.23%	3.11%	0.88%	1.17%	0.88%	2.48%
Long-Term Debt to Total Capital	0.00%	73.78%	69.69%	71.09%	72.61%	73.46%	72.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	7.88%	7.71%	7.36%	6.97%	6.81%	6.76%
Common Equity to Total Capital	0.00%	15.11%	19.50%	20.67%	19.25%	18.85%	18.07%
Debt to EBITDA	0.00	6.54	3.97	3.74	4.41	5.09	5.10
Net Debt to EBITDA	0.00	4.15	2.46	2.37	3.17	3.44	3.27
Long-Term Debt to EBITDA	0.00	6.26	3.80	3.69	4.34	5.03	4.94
Debt to NOPAT	0.00	11.58	7.97	8.74	12.12	15.06	13.91
Net Debt to NOPAT	0.00	7.36	4.94	5.53	8.71	10.17	8.91
Long-Term Debt to NOPAT	0.00	11.10	7.63	8.64	11.93	14.88	13.45
Altman Z-Score	0.00	0.00	3.05	3.33	2.98	2.77	2.49
Noncontrolling Interest Sharing Ratio	0.00%	34.26%	31.01%	27.27%	26.43%	26.56%	26.88%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.57	1.67	1.67	1.54	1.62	1.66
Quick Ratio	0.00	0.88	0.91	0.94	0.73	0.81	0.92
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-827	89	53	-50	95	115
Operating Cash Flow to CapEx	110.23%	401.08%	0.00%	0.00%	0.00%	367.53%	160.37%
Free Cash Flow to Firm to Interest Expense	0.00	-16.01	1.20	0.85	-0.54	0.97	1.24
Operating Cash Flow to Interest Expense	1.00	3.36	2.15	3.34	1.49	2.27	2.07
Operating Cash Flow Less CapEx to Interest Expense	0.09	2.53	2.94	6.37	3.66	1.65	0.78
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	1.46	2.61	2.95	2.73	2.40	2.14
Accounts Receivable Turnover	0.00	85.43	135.75	101.32	74.45	75.74	83.46
Inventory Turnover	0.00	16.27	32.68	32.67	29.10	26.03	25.98
Fixed Asset Turnover	0.00	8.16	14.26	15.30	13.56	11.72	10.28
Accounts Payable Turnover	0.00	17.11	35.95	35.14	31.91	31.06	31.60
Days Sales Outstanding (DSO)	0.00	4.27	2.69	3.60	4.90	4.82	4.37
Days Inventory Outstanding (DIO)	0.00	22.43	11.17	11.17	12.54	14.02	14.05
Days Payable Outstanding (DPO)	0.00	21.34	10.15	10.39	11.44	11.75	11.55
Cash Conversion Cycle (CCC)	0.00	5.36	3.71	4.39	6.00	7.09	6.87
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	911	941	1,000	1,137	1,115	1,079
Invested Capital Turnover	0.00	8.80	8.01	9.42	8.81	7.76	6.97
Increase / (Decrease) in Invested Capital	0.00	911	29	59	137	-22	-35
Enterprise Value (EV)	0.00	0.00	1,736	1,724	1,806	1,601	1,318
Market Capitalization	0.00	0.00	1,049	1,005	945	763	506
Book Value per Share	$0.00	$2.70	$2.04	$2.34	$2.36	$2.39	$2.40
Tangible Book Value per Share	$0.00	($2.82)	($1.05)	($1.11)	($1.97)	($1.77)	($1.73)
Total Capital	0.00	1,268	1,300	1,359	1,435	1,469	1,479
Total Debt	0.00	976	946	978	1,058	1,092	1,112
Total Long-Term Debt	0.00	935	906	966	1,042	1,079	1,075
Net Debt	0.00	620	587	619	761	738	712
Capital Expenditures (CapEx)	39	43	-59	-189	-199	60	120
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-48	-16	-6.52	34	-8.08	-8.80
Debt-free Net Working Capital (DFNWC)	0.00	263	316	313	280	290	321
Net Working Capital (NWC)	0.00	222	275	301	263	277	285
Net Nonoperating Expense (NNE)	48	54	59	40	53	52	57
Net Nonoperating Obligations (NNO)	0.00	620	587	619	761	738	712
Total Depreciation and Amortization (D&A)	54	69	96	95	122	121	116
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-1.20%	-0.21%	-0.07%	0.37%	-0.09%	-0.12%
Debt-free Net Working Capital to Revenue	0.00%	6.57%	4.25%	3.42%	2.97%	3.32%	4.20%
Net Working Capital to Revenue	0.00%	5.54%	3.71%	3.29%	2.79%	3.17%	3.72%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.43	$0.54	$0.24	$0.13	$0.15
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	124.41M	121.48M	118.78M	116.14M	113.31M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.42	$0.53	$0.24	$0.13	$0.15
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	125.44M	123.22M	119.61M	116.95M	114.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	120.17M	116.18M	115.77M	110.89M
Normalized Net Operating Profit after Tax (NOPAT)	0.93	56	119	112	87	73	80
Normalized NOPAT Margin	0.02%	1.40%	1.60%	1.22%	0.93%	0.83%	1.05%
Pre Tax Income Margin	-0.98%	0.76%	0.96%	1.18%	0.50%	0.31%	0.38%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.03	1.55	1.91	2.67	1.29	0.96	1.10
NOPAT to Interest Expense	0.02	1.63	1.60	1.79	0.95	0.74	0.86
EBIT Less CapEx to Interest Expense	-0.88	0.72	2.70	5.69	3.46	0.34	-0.19
NOPAT Less CapEx to Interest Expense	-0.89	0.79	2.39	4.81	3.13	0.12	-0.43
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-18.35%	28.43%	18.35%	23.46%	57.92%	94.82%	85.17%
Augmented Payout Ratio	-18.35%	28.43%	18.35%	79.09%	155.40%	248.28%	208.13%

This table displays calculated financial ratios and metrics derived from ARKO's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	115,771,318.00	113,954,878.00	112,742,341.00	111,430,778.00	110,891,325.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	115,771,318.00	113,954,878.00	112,742,341.00	111,430,778.00	110,891,325.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.12	0.16	0.11	0.00	-0.07
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.04%	2.43%	-0.77%	-3.28%	-13.07%	-10.79%	-11.75%	-16.27%	-11.34%	-9.93%	-3.15%
EBITDA Growth	-15.91%	-3.09%	-29.14%	2.39%	-5.85%	-21.30%	-26.48%	19.84%	-11.97%	9.23%	99.45%
EBIT Growth	-32.95%	-24.95%	-154.35%	8.24%	-5.68%	-43.20%	-141.76%	32.00%	-13.58%	49.23%	185.32%
NOPAT Growth	-10.32%	-54.24%	-154.35%	-5.28%	-30.46%	-12.11%	-141.76%	9.60%	36.66%	139.67%	185.32%
Net Income Growth	-14.03%	-91.24%	76.49%	-2.87%	-54.98%	-304.09%	-2,033.33%	42.91%	39.13%	180.90%	55.86%
EPS Growth	0.00%	-108.33%	33.33%	0.00%	-58.82%	-200.00%	-500.00%	45.45%	42.86%	133.33%	41.67%
Operating Cash Flow Growth	-51.45%	-17.56%	-19.69%	156.52%	232.58%	-60.33%	240.27%	-28.53%	-54.72%	96.13%	-56.98%
Free Cash Flow Firm Growth	48.63%	-270.83%	71.09%	105.29%	169.22%	125.88%	308.07%	1,076.90%	-58.04%	82.78%	-180.13%
Invested Capital Growth	17.41%	13.72%	3.60%	1.72%	-6.46%	-1.98%	-8.51%	-5.71%	-0.97%	-3.17%	7.49%
Revenue Q/Q Growth	6.19%	-14.84%	-7.19%	15.23%	-4.56%	-12.60%	-8.19%	9.33%	1.07%	-11.21%	-1.25%
EBITDA Q/Q Growth	7.02%	-25.35%	-54.97%	184.61%	-1.59%	-37.61%	-57.93%	363.96%	-27.72%	-22.58%	-23.18%
EBIT Q/Q Growth	11.07%	-42.58%	-119.23%	982.61%	-3.21%	-65.42%	-181.84%	581.89%	-36.63%	-40.29%	-53.21%
NOPAT Q/Q Growth	8.96%	-64.37%	-129.75%	920.00%	-20.01%	-54.96%	-181.84%	471.73%	-0.26%	-21.01%	-70.87%
Net Income Q/Q Growth	48.41%	-94.76%	-152.75%	2,467.51%	-31.21%	-123.75%	-451.44%	258.60%	-33.03%	-86.19%	-400.86%
EPS Q/Q Growth	54.55%	-105.88%	-100.00%	650.00%	-36.36%	-142.86%	-300.00%	233.33%	-37.50%	-90.00%	-800.00%
Operating Cash Flow Q/Q Growth	9.03%	74.54%	-77.73%	505.40%	41.36%	-79.18%	90.96%	27.15%	-10.44%	-9.81%	-58.12%
Free Cash Flow Firm Q/Q Growth	9.03%	11.28%	64.34%	118.38%	1,090.51%	-66.83%	186.71%	3.95%	-57.56%	44.51%	-225.69%
Invested Capital Q/Q Growth	2.56%	-3.01%	4.98%	-2.59%	-5.70%	1.65%	-2.01%	0.39%	-0.96%	-0.62%	8.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.63%	27.76%	27.51%	27.70%	28.64%	28.91%	27.55%	29.10%	28.09%	28.43%	26.59%
EBITDA Margin	2.90%	2.54%	1.23%	3.05%	3.14%	2.24%	1.03%	4.36%	3.12%	2.72%	2.12%
Operating Margin	1.68%	1.13%	-0.23%	1.80%	1.82%	0.72%	-0.64%	2.84%	1.78%	1.20%	0.57%
EBIT Margin	1.68%	1.13%	-0.23%	1.80%	1.82%	0.72%	-0.64%	2.84%	1.78%	1.20%	0.57%
Profit (Net Income) Margin	0.82%	0.05%	-0.03%	0.59%	0.42%	-0.12%	-0.69%	1.01%	0.67%	0.10%	-0.32%
Tax Burden Percent	72.85%	46.82%	8.11%	65.16%	53.91%	43.05%	49.47%	54.07%	85.30%	113.22%	68.98%
Interest Burden Percent	66.92%	9.50%	150.49%	50.25%	43.17%	-37.13%	217.74%	65.57%	43.92%	7.65%	-80.78%
Effective Tax Rate	27.10%	54.76%	0.00%	34.97%	46.25%	0.00%	0.00%	46.00%	15.01%	-12.42%	0.00%
Return on Invested Capital (ROIC)	10.57%	4.52%	-1.32%	9.45%	7.75%	3.92%	-3.34%	10.98%	10.86%	9.37%	2.65%
ROIC Less NNEP Spread (ROIC-NNEP)	9.06%	3.02%	-0.97%	7.67%	6.07%	2.27%	-3.91%	9.60%	8.47%	6.30%	0.79%
Return on Net Nonoperating Assets (RNNOA)	16.93%	5.51%	-2.11%	15.88%	11.88%	4.51%	-8.56%	19.78%	16.07%	12.27%	1.16%
Return on Equity (ROE)	27.50%	10.02%	-3.43%	25.34%	19.64%	8.43%	-11.91%	30.76%	26.93%	21.63%	3.82%
Cash Return on Invested Capital (CROIC)	-7.26%	-4.67%	3.82%	5.56%	13.14%	8.44%	16.57%	11.30%	8.29%	10.51%	-0.22%
Operating Return on Assets (OROA)	4.62%	3.09%	-0.61%	4.55%	4.42%	1.73%	-1.51%	6.28%	3.83%	2.55%	1.20%
Return on Assets (ROA)	2.25%	0.14%	-0.07%	1.49%	1.03%	-0.28%	-1.63%	2.23%	1.44%	0.22%	-0.67%
Return on Common Equity (ROCE)	20.23%	7.37%	-2.50%	18.58%	14.52%	6.19%	-8.58%	22.42%	19.78%	15.82%	2.71%
Return on Equity Simple (ROE_SIMPLE)	16.14%	0.00%	13.97%	13.21%	8.67%	0.00%	3.44%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	32	11	-3.41	28	22	10	-8.23	31	31	24	7.03
NOPAT Margin	1.23%	0.51%	-0.16%	1.17%	0.98%	0.51%	-0.45%	1.53%	1.51%	1.34%	0.40%
Net Nonoperating Expense Percent (NNEP)	1.51%	1.50%	-0.35%	1.78%	1.69%	1.65%	0.57%	1.38%	2.39%	3.07%	1.87%
Return On Investment Capital (ROIC_SIMPLE)	-	0.86%	-	-	-	0.74%	-0.61%	2.21%	2.20%	1.75%	0.49%
Cost of Revenue to Revenue	73.37%	72.24%	72.49%	72.31%	71.36%	71.09%	72.45%	70.90%	71.91%	71.57%	73.41%
SG&A Expenses to Revenue	1.68%	1.71%	2.03%	1.78%	1.70%	1.99%	2.28%	2.04%	1.98%	2.41%	2.26%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.95%	26.62%	27.75%	25.90%	26.82%	28.19%	28.19%	26.27%	26.31%	27.24%	26.02%
Earnings before Interest and Taxes (EBIT)	44	25	-4.87	43	42	14	-12	57	36	21	10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	76	57	26	73	72	45	19	87	63	49	37
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.90	3.42	2.52	2.65	2.90	2.76	1.79	1.82	1.89	1.89	1.56
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.09	0.10	0.07	0.08	0.09	0.09	0.05	0.06	0.07	0.07	0.08
Price to Earnings (P/E)	20.64	33.04	21.54	23.90	44.01	50.54	151.77	53.20	40.12	29.77	26.78
Dividend Yield	1.99%	1.48%	2.13%	1.92%	1.71%	1.82%	3.04%	2.84%	2.63%	2.64%	2.16%
Earnings Yield	4.85%	3.03%	4.64%	4.18%	2.27%	1.98%	0.66%	1.88%	2.49%	3.36%	3.73%
Enterprise Value to Invested Capital (EV/IC)	1.47	1.59	1.33	1.39	1.49	1.44	1.19	1.20	1.22	1.22	1.19
Enterprise Value to Revenue (EV/Rev)	0.18	0.19	0.17	0.17	0.18	0.18	0.15	0.16	0.17	0.17	0.18
Enterprise Value to EBITDA (EV/EBITDA)	7.11	7.53	6.94	6.97	7.19	7.46	6.23	5.91	6.21	6.05	5.90
Enterprise Value to EBIT (EV/EBIT)	13.59	15.31	15.28	15.00	15.52	17.02	14.85	13.02	13.95	12.88	11.24
Enterprise Value to NOPAT (EV/NOPAT)	18.08	20.69	18.47	19.23	22.24	22.07	14.73	21.43	16.63	16.49	17.58
Enterprise Value to Operating Cash Flow (EV/OCF)	11.59	13.27	11.97	8.95	6.35	7.21	5.13	5.70	7.78	6.84	8.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	35.56	25.13	10.93	16.85	6.83	10.29	14.68	11.43	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.73	2.81	3.04	2.95	2.88	2.90	3.07	3.06	2.98	3.03	1.75
Long-Term Debt to Equity	2.69	2.77	2.99	2.90	2.84	2.86	3.03	2.95	2.88	2.93	1.59
Financial Leverage	1.87	1.82	2.19	2.07	1.96	1.99	2.19	2.06	1.90	1.95	1.48
Leverage Ratio	9.00	9.12	9.79	9.82	9.66	9.66	10.08	9.90	9.66	9.62	7.85
Compound Leverage Factor	6.02	0.87	14.74	4.93	4.17	-3.59	21.95	6.49	4.24	0.74	-6.34
Debt to Total Capital	73.20%	73.78%	75.23%	74.70%	74.26%	74.34%	75.41%	75.39%	74.87%	75.17%	63.69%
Short-Term Debt to Total Capital	1.10%	1.17%	1.19%	1.23%	1.04%	0.88%	0.97%	2.69%	2.49%	2.48%	6.04%
Long-Term Debt to Total Capital	72.10%	72.61%	74.04%	73.47%	73.21%	73.46%	74.45%	72.70%	72.38%	72.69%	57.65%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.93%	6.97%	6.86%	6.78%	6.77%	6.81%	6.92%	6.74%	6.73%	6.76%	10.68%
Common Equity to Total Capital	19.87%	19.25%	17.91%	18.52%	18.97%	18.85%	17.66%	17.86%	18.39%	18.07%	25.64%
Debt to EBITDA	4.37	4.41	4.78	4.77	4.83	5.09	5.24	5.03	5.20	5.10	4.15
Net Debt to EBITDA	3.25	3.17	3.63	3.42	3.16	3.44	3.55	3.29	3.33	3.27	2.60
Long-Term Debt to EBITDA	4.30	4.34	4.71	4.69	4.77	5.03	5.17	4.85	5.03	4.94	3.76
Debt to NOPAT	11.12	12.12	12.73	13.14	14.96	15.06	12.40	18.24	13.92	13.91	12.38
Net Debt to NOPAT	8.27	8.71	9.66	9.42	9.78	10.17	8.39	11.94	8.93	8.91	7.74
Long-Term Debt to NOPAT	10.95	11.93	12.53	12.92	14.75	14.88	12.24	17.59	13.46	13.45	11.21
Altman Z-Score	2.83	2.90	2.83	2.82	2.75	2.70	2.55	2.51	2.45	2.41	2.39
Noncontrolling Interest Sharing Ratio	26.44%	26.43%	27.16%	26.65%	26.08%	26.56%	27.91%	27.10%	26.56%	26.88%	28.91%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.49	1.54	1.53	1.58	1.63	1.62	1.55	1.55	1.62	1.66	1.62
Quick Ratio	0.73	0.73	0.73	0.80	0.87	0.81	0.82	0.86	0.91	0.92	0.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-142	-126	-45	8.24	98	33	93	97	41	59	-75
Operating Cash Flow to CapEx	219.63%	176.66%	46.91%	0.00%	386.93%	66.97%	161.23%	126.73%	212.02%	169.39%	63.60%
Free Cash Flow to Firm to Interest Expense	-5.92	-5.20	-1.83	0.33	3.67	1.49	4.00	4.18	1.75	2.61	-3.61
Operating Cash Flow to Interest Expense	1.37	2.37	0.52	3.12	4.08	1.04	1.86	2.38	2.10	1.95	0.90
Operating Cash Flow Less CapEx to Interest Expense	0.75	1.03	-0.59	4.29	3.03	-0.51	0.71	0.50	1.11	0.80	-0.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.75	2.73	2.61	2.53	2.42	2.40	2.35	2.22	2.16	2.14	2.11
Accounts Receivable Turnover	62.14	74.45	65.31	63.97	60.34	75.74	63.17	60.46	68.12	83.46	56.11
Inventory Turnover	28.77	29.10	31.09	30.07	29.17	26.03	25.88	25.25	25.58	25.98	25.55
Fixed Asset Turnover	13.85	13.56	12.33	12.52	11.95	11.72	11.41	10.96	10.64	10.28	10.15
Accounts Payable Turnover	30.64	31.91	33.72	32.27	31.97	31.06	28.29	27.01	28.82	31.60	27.34
Days Sales Outstanding (DSO)	5.87	4.90	5.59	5.71	6.05	4.82	5.78	6.04	5.36	4.37	6.50
Days Inventory Outstanding (DIO)	12.69	12.54	11.74	12.14	12.51	14.02	14.11	14.46	14.27	14.05	14.28
Days Payable Outstanding (DPO)	11.91	11.44	10.82	11.31	11.42	11.75	12.90	13.51	12.67	11.55	13.35
Cash Conversion Cycle (CCC)	6.65	6.00	6.50	6.53	7.15	7.09	6.98	6.98	6.96	6.87	7.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,172	1,137	1,194	1,163	1,096	1,115	1,092	1,096	1,086	1,079	1,174
Invested Capital Turnover	8.62	8.81	8.01	8.08	7.91	7.76	7.43	7.17	7.19	6.97	6.70
Increase / (Decrease) in Invested Capital	174	137	41	20	-76	-22	-102	-66	-11	-35	82
Enterprise Value (EV)	1,718	1,806	1,592	1,612	1,629	1,601	1,294	1,314	1,328	1,318	1,395
Market Capitalization	833	945	659	722	813	763	457	482	515	506	617
Book Value per Share	$2.42	$2.36	$2.23	$2.36	$2.42	$2.39	$2.20	$2.32	$2.42	$2.40	$3.57
Tangible Book Value per Share	($1.72)	($1.97)	($2.03)	($1.91)	($1.80)	($1.77)	($1.91)	($1.81)	($1.71)	($1.73)	($0.53)
Total Capital	1,443	1,435	1,458	1,475	1,476	1,469	1,445	1,483	1,485	1,479	1,542
Total Debt	1,057	1,058	1,097	1,102	1,096	1,092	1,090	1,118	1,112	1,112	982
Total Long-Term Debt	1,041	1,042	1,080	1,083	1,081	1,079	1,076	1,078	1,075	1,075	889
Net Debt	785	761	832	790	716	738	737	732	713	712	614
Capital Expenditures (CapEx)	15	32	27	-29	28	34	27	44	23	26	29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	50	34	63	44	-8.17	-8.08	-25	-20	-7.52	-8.80	91
Debt-free Net Working Capital (DFNWC)	274	280	273	300	316	290	270	302	325	321	388
Net Working Capital (NWC)	258	263	256	281	301	277	256	262	288	285	295
Net Nonoperating Expense (NNE)	11	10	-2.81	14	13	12	4.44	11	17	22	13
Net Nonoperating Obligations (NNO)	785	761	832	790	716	738	737	732	713	712	614
Total Depreciation and Amortization (D&A)	32	31	30	30	30	30	31	31	27	27	27
Debt-free, Cash-free Net Working Capital to Revenue	0.54%	0.37%	0.67%	0.47%	-0.09%	-0.09%	-0.29%	-0.25%	-0.10%	-0.12%	1.21%
Debt-free Net Working Capital to Revenue	2.93%	2.97%	2.91%	3.22%	3.52%	3.32%	3.18%	3.73%	4.14%	4.20%	5.11%
Net Working Capital to Revenue	2.76%	2.79%	2.72%	3.02%	3.35%	3.17%	3.02%	3.24%	3.67%	3.72%	3.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.17	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.11	$0.00	($0.07)
Adjusted Weighted Average Basic Shares Outstanding	118.39M	118.78M	117.28M	115.76M	115.77M	116.14M	115.88M	114.01M	112.72M	113.31M	111.32M
Adjusted Diluted Earnings per Share	$0.17	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.10	$0.01	($0.07)
Adjusted Weighted Average Diluted Shares Outstanding	120.29M	119.61M	117.28M	116.88M	117.89M	116.95M	115.88M	115.41M	115.20M	114.98M	111.32M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	116.81M	116.18M	115.74M	115.77M	115.77M	115.77M	113.95M	112.74M	111.43M	110.89M	112.19M
Normalized Net Operating Profit after Tax (NOPAT)	32	18	-3.41	28	22	10	-8.23	31	31	15	7.03
Normalized NOPAT Margin	1.23%	0.79%	-0.16%	1.17%	0.98%	0.51%	-0.45%	1.53%	1.51%	0.84%	0.40%
Pre Tax Income Margin	1.12%	0.11%	-0.35%	0.90%	0.79%	-0.27%	-1.40%	1.86%	0.78%	0.09%	-0.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.84	1.05	-0.20	1.74	1.55	0.66	-0.50	2.44	1.53	0.94	0.48
NOPAT to Interest Expense	1.34	0.47	-0.14	1.13	0.83	0.46	-0.35	1.32	1.30	1.06	0.34
EBIT Less CapEx to Interest Expense	1.22	-0.29	-1.31	2.91	0.50	-0.90	-1.66	0.57	0.54	-0.21	-0.93
NOPAT Less CapEx to Interest Expense	0.72	-0.87	-1.25	2.30	-0.22	-1.10	-1.51	-0.56	0.31	-0.10	-1.08
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	43.60%	57.92%	54.81%	55.10%	81.56%	94.82%	224.34%	132.40%	104.95%	85.17%	64.52%
Augmented Payout Ratio	98.03%	155.40%	228.25%	199.55%	248.37%	248.28%	309.32%	244.49%	216.71%	208.13%	158.34%

Financials Breakdown Chart

Key Financial Trends

ARKO (NASDAQ:ARKO) has shown a relatively stable revenue base around the $1.8B–$2.0B range in 2025, with gross margins hovering in the high-20s to around 30%. Operating cash flow has been positive in every 2025 quarter, supporting liquidity, but profits have been pressured by a large operating expense line and a sizable debt load relative to equity. Below are the most notable points from the last four annual quarters (Q1–Q4 2025), with broader context from prior years.

Operating cash flow from continuing operations was positive in all four 2025 quarters (roughly $43–$56M per quarter), indicating ongoing cash generation.
Gross margin stayed within a narrow band around 28–30% across 2023–2025, signaling stable profitability on revenue.
Liquidity remains solid: cash and equivalents in the ballpark of $0.27–$0.31B and total current assets around $0.75B vs. total current liabilities around $0.46–$0.48B (roughly 1.6x current ratio in recent quarters).
Several 2025 quarters showed positive earnings per share to common (e.g., Q2 2025: diluted EPS ~ $0.16; Q3 2025: diluted EPS ~ $0.11; Q4 2025: diluted EPS ~ $0.01), reflecting quarterly profitability when excluding larger non-operating costs.
Free cash flow (approximate, CFO minus spend on property, plant & equipment) has been positive in 2025, supporting optionality for future growth or debt management.
Debt and equity balance remains structurally lopsided: long-term debt around $0.86–$0.88B versus total equity near $0.26–$0.28B, indicating meaningful leverage versus equity (neutral for investment thesis since it affects risk and flexibility).
Balance-sheet complexity includes noncontrolling interests and sizable goodwill/intangible assets, which are neutral in terms of immediate cash-flow impact but important for evaluating long-term value and impairment risk.
Capex has shown variability (roughly mid-$20Ms to mid-$40Ms per quarter), indicating ongoing investment in fixed assets with moderate cash-outlay relative to cash flow.
A substantial negative line item in Q4 2025 Other Operating Expenses / (Income) was about $412M, which weighed heavily on operating income and net income and limited quarterly profitability.
Net income to common has been volatile, including a Q1 2025 loss and other quarters with modest or variable profits, highlighting sensitivity to operating costs and non-operating items.

05/27/26 02:10 PM ETAI Generated. May Contain Errors.

ARKO Financials - Frequently Asked Questions

According to the most recent income statement we have on file, ARKO's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

ARKO's net income appears to be on an upward trend, with a most recent value of $22.74 million in 2025, falling from -$47.16 million in 2019. The previous period was $20.85 million in 2024. Check out ARKO's forecast to explore projected trends and price targets.

ARKO's total operating income in 2025 was $102.30 million, based on the following breakdown:

Total Gross Profit: $2.16 billion
Total Operating Expenses: $2.06 billion

Over the last 6 years, ARKO's total revenue changed from $4.13 billion in 2019 to $7.64 billion in 2025, a change of 85.1%.

ARKO's total liabilities were at $3.17 billion at the end of 2025, a 2.3% decrease from 2024, and a 29.4% increase since 2020.

In the past 5 years, ARKO's cash and equivalents has ranged from $218.12 million in 2023 to $305.00 million in 2025, and is currently $305.00 million as of their latest financial filing in 2025.

Over the last 6 years, ARKO's book value per share changed from 0.00 in 2019 to 2.40 in 2025, a change of 239.8%.

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Financial statements for NASDAQ:ARKO last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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ARKO (ARKO) Financials

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ARKO (ARKO) Financials

Annual Income Statements for ARKO

Quarterly Income Statements for ARKO

Annual Cash Flow Statements for ARKO

Quarterly Cash Flow Statements for ARKO

Annual Balance Sheets for ARKO

Quarterly Balance Sheets for ARKO

Annual Metrics And Ratios for ARKO

Quarterly Metrics And Ratios for ARKO

Financials Breakdown Chart

Key Financial Trends

ARKO Financials - Frequently Asked Questions

When does ARKO's financial year end?

How has ARKO's net income changed over the last 6 years?

What is ARKO's operating income?

How has ARKO's revenue changed over the last 6 years?

How much debt does ARKO have?

How much cash does ARKO have?

How has ARKO's book value per share changed over the last 6 years?

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