What is ARKO's operating income?

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

ARKO (ARKO) Financials

$4.85 +0.35 (+7.78%)

Closing price 08/14/2026 04:00 PM Eastern

Extended Trading

$4.89 +0.04 (+0.93%)

As of 08/14/2026 07:34 PM Eastern

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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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-0.37	-2.01	13	8.23	-3.74	-14	19	12	0.41	-8.06	4.68
Consolidated Net Income / (Loss)	1.13	-0.59	14	9.67	-2.30	-13	20	13	1.86	-5.59	9.43
Net Income / (Loss) Continuing Operations	1.13	-0.59	14	9.65	-2.30	-13	20	13	1.95	-5.59	9.43
Total Pre-Tax Income	2.41	-7.32	22	18	-5.34	-26	37	16	1.64	-8.11	16
Total Operating Income	25	-4.87	43	42	14	-12	57	36	21	10	30
Total Gross Profit	620	570	661	653	576	504	582	568	510	471	525
Total Revenue	2,233	2,072	2,388	2,279	1,992	1,829	1,999	2,021	1,794	1,772	2,347
Operating Revenue	2,233	2,072	2,388	2,279	1,992	1,829	1,999	2,021	1,794	1,772	2,347
Total Cost of Revenue	1,613	1,502	1,727	1,626	1,416	1,326	1,417	1,453	1,284	1,301	1,822
Operating Cost of Revenue	1,613	1,502	1,727	1,626	1,416	1,326	1,417	1,453	1,284	1,301	1,822
Total Operating Expenses	595	575	618	611	562	516	525	532	489	461	494
Selling, General & Admin Expense	38	42	42	39	40	42	41	40	43	40	44
Depreciation Expense	33	32	34	33	34	35	34	33	33	32	32
Other Operating Expenses / (Income)	524	501	542	540	488	439	451	459	412	389	418
Total Other Income / (Expense), net	-23	-2.46	-21	-24	-20	-14	-20	-20	-20	-18	-14
Interest Expense	24	24	25	27	22	23	23	23	23	21	20
Interest & Investment Income	1.26	22	3.41	3.16	2.06	9.48	3.70	3.39	2.92	2.57	5.77
Income Tax Expense	1.32	-6.71	7.55	8.30	-3.00	-13	17	2.37	-0.20	-2.50	6.94
Other Gains / (Losses), net	0.04	0.02	-	-	0.05	0.02	0.03	-	-	0.02	0.00
Preferred Stock Dividends Declared	1.45	1.41	1.45	1.45	1.45	1.42	1.43	1.45	1.45	1.42	1.43
Net Income / (Loss) Attributable to Noncontrolling Interest	0.05	-	-	-	-	0.00	0.00	-	-	1.05	3.32
Basic Earnings per Share	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.11	-	($0.07)	$0.04
Weighted Average Basic Shares Outstanding	118.78M	117.28M	115.76M	115.77M	116.14M	115.88M	114.01M	112.72M	113.31M	111.32M	112.19M
Diluted Earnings per Share	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.10	$0.01	($0.07)	$0.04
Weighted Average Diluted Shares Outstanding	119.61M	117.28M	116.88M	117.89M	116.95M	115.88M	115.41M	115.20M	114.98M	111.32M	115.88M
Weighted Average Basic & Diluted Shares Outstanding	116.18M	115.74M	115.77M	115.77M	115.77M	113.95M	112.74M	111.43M	110.89M	112.19M	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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Change in Cash & Equivalents	21	-36	45	68	-27	-2.87	27	9.24	-2.01	-35	-29
Net Cash From Operating Activities	57	13	77	109	23	43	55	49	45	19	42
Net Cash From Continuing Operating Activities	57	13	77	109	23	43	55	49	45	19	42
Net Income / (Loss) Continuing Operations	1.13	-0.59	14	9.67	-2.30	-13	20	13	1.86	-5.59	9.43
Consolidated Net Income / (Loss)	1.13	-0.59	14	9.67	-2.30	-13	20	13	1.86	-5.59	9.43
Depreciation Expense	33	32	34	33	34	35	34	33	33	32	32
Amortization Expense	-1.18	-1.28	-3.76	-3.09	-3.68	-4.33	-3.08	-5.83	-5.67	-4.92	-2.20
Non-Cash Adjustments To Reconcile Net Income	7.84	-9.38	6.70	9.65	9.77	1.93	-11	7.65	10	9.57	9.66
Changes in Operating Assets and Liabilities, net	17	-7.70	27	60	-15	24	16	1.20	5.22	-13	-6.85
Net Cash From Investing Activities	-33	-28	-24	-28	-34	-27	-44	-23	-26	-29	-28
Net Cash From Continuing Investing Activities	-33	-28	-24	-28	-34	-27	-44	-23	-26	-29	-28
Purchase of Property, Plant & Equipment	-36	-29	-19	-29	-36	-27	-45	-25	-30	-30	-33
Sale of Property, Plant & Equipment	3.13	2.04	48	1.06	2.20	0.47	1.80	1.59	3.33	0.93	1.77
Net Cash From Financing Activities	-3.04	-20	-7.40	-13	-15	-19	15	-17	-21	-24	-42
Net Cash From Continuing Financing Activities	-3.04	-20	-7.40	-13	-15	-19	15	-17	-21	-24	-42
Repayment of Debt	-5.64	-6.64	-7.21	-6.71	-5.79	-5.69	-6.56	-6.38	-5.48	-214	-40
Repurchase of Common Equity	-8.50	-32	-0.07	-	-	-7.38	-9.21	-4.18	-7.19	-7.40	-0.76
Payment of Dividends	-4.95	-5.01	-4.92	-4.92	-4.92	-4.91	-4.85	-4.83	-4.78	-4.78	-8.07
Issuance of Debt	21	42	5.97	-	-	0.00	37	-	1.54	0.69	8.05
Other Financing Activities, net	-4.77	-18	-1.17	-1.27	-4.71	-1.38	-1.43	-1.50	-4.60	-8.38	-1.65
Cash Interest Paid	28	17	29	18	29	16	28	16	27	13	23
Cash Interest Received	1.74	1.65	2.08	2.82	2.94	2.36	2.57	3.00	2.81	2.38	2.08
Cash Income Taxes Paid	0.88	0.65	2.14	0.45	7.19	-0.29	5.74	-	-0.70	0.00	5.94

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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Total Assets	3,591	3,671	3,720	3,621	3,700	3,688	3,603	3,609	3,587	3,579	3,557
Total Current Assets	737	732	786	736	770	780	719	743	753	770	745
Cash & Equivalents	256	220	204	184	232	292	265	294	307	272	246
Restricted Cash	16	15	16	21	19	27	24	23	19	17	15
Short-Term Investments	3.07	3.32	3.38	4.59	4.86	5.13	5.67	5.99	6.30	7.21	8.17
Accounts Receivable	129	136	180	159	156	118	110	112	112	160	151
Inventories, net	245	256	266	250	251	236	221	207	202	206	208
Other Current Assets	88	101	117	116	107	101	93	101	106	107	116
Plant, Property, & Equipment, net	781	749	760	743	740	741	745	738	733	751	759
Total Noncurrent Assets	2,073	2,191	2,173	2,142	2,190	2,168	2,139	2,128	2,100	2,058	2,053
Long-Term Investments	44	43	47	54	56	55	58	64	67	72	71
Noncurrent Note & Lease Receivables	179	174	179	160	160	159	155	148	146	135	133
Goodwill	217	278	278	292	300	300	300	300	300	300	300
Intangible Assets	226	220	213	207	194	188	177	171	166	155	149
Noncurrent Deferred & Refundable Income Taxes	33	57	47	62	61	59	83	68	62	68	64
Other Noncurrent Operating Assets	1,374	1,419	1,408	1,365	1,419	1,406	1,366	1,376	1,360	1,328	1,337
Total Liabilities & Shareholders' Equity	3,591	3,671	3,720	3,621	3,700	3,688	3,603	3,609	3,587	3,579	3,557
Total Liabilities	3,216	3,294	3,333	3,260	3,327	3,308	3,247	3,244	3,214	3,019	2,986
Total Current Liabilities	491	482	528	480	488	479	463	481	466	475	464
Short-Term Debt	77	13	16	17	18	15	14	40	37	93	16
Accounts Payable	223	233	249	234	239	209	197	189	180	202	199
Other Current Liabilities	191	235	263	228	231	255	252	252	248	180	249
Total Noncurrent Liabilities	2,725	2,812	2,805	2,780	2,838	2,829	2,784	2,763	2,748	2,544	2,522
Long-Term Debt	794	810	812	868	872	869	866	877	875	691	658
Capital Lease Obligations	225	224	228	212	212	211	210	201	200	198	196
Asset Retirement Reserve & Litigation Obligation	72	80	80	85	87	87	88	88	89	90	90
Other Noncurrent Operating Liabilities	1,634	1,698	1,684	1,615	1,668	1,661	1,621	1,597	1,585	1,565	1,577
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	275	278	287	261	273	280	255	265	273	460	471
Total Preferred & Common Equity	275	277	287	261	273	280	255	265	273	395	402
Total Common Equity	275	277	287	261	273	280	255	265	273	395	402
Common Stock	234	239	243	268	270	273	280	284	288	436	441
Retained Earnings	74	84	100	90	100	104	80	95	103	89	90
Treasury Stock	-42	-54	-66	-106	-106	-106	-114	-123	-127	-139	-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	-0.05	0.04	-0.01	0.00	0.00	0.00	-	-	-	65	69

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	115,771,318.00	113,954,878.00	112,742,341.00	111,430,778.00	110,891,325.00	112,185,721.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	115,771,318.00	113,954,878.00	112,742,341.00	111,430,778.00	110,891,325.00	112,185,721.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-0.12	0.16	0.11	0.00	-0.07	0.04
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.43%	-0.77%	-3.28%	-13.07%	-10.79%	-11.75%	-16.27%	-11.34%	-9.93%	-3.15%	17.39%
EBITDA Growth	-3.09%	-29.14%	2.39%	-5.85%	-21.30%	-26.48%	19.84%	-11.97%	9.23%	99.45%	-30.80%
EBIT Growth	-24.95%	-154.35%	8.24%	-5.68%	-43.20%	-141.76%	32.00%	-13.58%	49.23%	185.32%	-46.41%
NOPAT Growth	-54.24%	-154.35%	-5.28%	-30.46%	-12.11%	-141.76%	9.60%	36.66%	139.67%	185.32%	-42.83%
Net Income Growth	-91.24%	76.49%	-2.87%	-54.98%	-304.09%	-2,033.33%	42.91%	39.13%	180.90%	55.86%	-53.07%
EPS Growth	-108.33%	33.33%	0.00%	-58.82%	-200.00%	-500.00%	45.45%	42.86%	133.33%	41.67%	-75.00%
Operating Cash Flow Growth	-17.56%	-19.69%	156.52%	232.58%	-60.33%	240.27%	-28.53%	-54.72%	96.13%	-56.98%	-23.51%
Free Cash Flow Firm Growth	-270.83%	71.09%	105.29%	169.22%	125.88%	308.07%	1,076.90%	-58.04%	82.78%	-180.13%	-87.93%
Invested Capital Growth	13.72%	3.60%	1.72%	-6.46%	-1.98%	-8.51%	-5.71%	-0.97%	-3.17%	7.49%	0.53%
Revenue Q/Q Growth	-14.84%	-7.19%	15.23%	-4.56%	-12.60%	-8.19%	9.33%	1.07%	-11.21%	-1.25%	32.43%
EBITDA Q/Q Growth	-25.35%	-54.97%	184.61%	-1.59%	-37.61%	-57.93%	363.96%	-27.72%	-22.58%	-23.18%	60.96%
EBIT Q/Q Growth	-42.58%	-119.23%	982.61%	-3.21%	-65.42%	-181.84%	581.89%	-36.63%	-40.29%	-53.21%	202.68%
NOPAT Q/Q Growth	-64.37%	-129.75%	920.00%	-20.01%	-54.96%	-181.84%	471.73%	-0.26%	-21.01%	-70.87%	149.10%
Net Income Q/Q Growth	-94.76%	-152.75%	2,467.51%	-31.21%	-123.75%	-451.44%	258.60%	-33.03%	-86.19%	-400.86%	268.64%
EPS Q/Q Growth	-105.88%	-100.00%	650.00%	-36.36%	-142.86%	-300.00%	233.33%	-37.50%	-90.00%	-800.00%	157.14%
Operating Cash Flow Q/Q Growth	74.54%	-77.73%	505.40%	41.36%	-79.18%	90.96%	27.15%	-10.44%	-9.81%	-58.12%	126.08%
Free Cash Flow Firm Q/Q Growth	11.28%	64.34%	118.38%	1,090.51%	-66.83%	186.71%	3.95%	-57.56%	44.51%	-225.69%	115.65%
Invested Capital Q/Q Growth	-3.01%	4.98%	-2.59%	-5.70%	1.65%	-2.01%	0.39%	-0.96%	-0.62%	8.78%	-6.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.76%	27.51%	27.70%	28.64%	28.91%	27.55%	29.10%	28.09%	28.43%	26.59%	22.35%
EBITDA Margin	2.54%	1.23%	3.05%	3.14%	2.24%	1.03%	4.36%	3.12%	2.72%	2.12%	2.57%
Operating Margin	1.13%	-0.23%	1.80%	1.82%	0.72%	-0.64%	2.84%	1.78%	1.20%	0.57%	1.29%
EBIT Margin	1.13%	-0.23%	1.80%	1.82%	0.72%	-0.64%	2.84%	1.78%	1.20%	0.57%	1.29%
Profit (Net Income) Margin	0.05%	-0.03%	0.59%	0.42%	-0.12%	-0.69%	1.01%	0.67%	0.10%	-0.32%	0.40%
Tax Burden Percent	46.82%	8.11%	65.16%	53.91%	43.05%	49.47%	54.07%	85.30%	113.22%	68.98%	57.62%
Interest Burden Percent	9.50%	150.49%	50.25%	43.17%	-37.13%	217.74%	65.57%	43.92%	7.65%	-80.78%	53.88%
Effective Tax Rate	54.76%	0.00%	34.97%	46.25%	0.00%	0.00%	46.00%	15.01%	-12.42%	0.00%	42.39%
Return on Invested Capital (ROIC)	4.52%	-1.32%	9.45%	7.75%	3.92%	-3.34%	10.98%	10.86%	9.37%	2.65%	5.38%
ROIC Less NNEP Spread (ROIC-NNEP)	3.02%	-0.97%	7.67%	6.07%	2.27%	-3.91%	9.60%	8.47%	6.30%	0.79%	4.10%
Return on Net Nonoperating Assets (RNNOA)	5.51%	-2.11%	15.88%	11.88%	4.51%	-8.56%	19.78%	16.07%	12.27%	1.16%	5.54%
Return on Equity (ROE)	10.02%	-3.43%	25.34%	19.64%	8.43%	-11.91%	30.76%	26.93%	21.63%	3.82%	10.92%
Cash Return on Invested Capital (CROIC)	-4.67%	3.82%	5.56%	13.14%	8.44%	16.57%	11.30%	8.29%	10.51%	-0.22%	6.08%
Operating Return on Assets (OROA)	3.09%	-0.61%	4.55%	4.42%	1.73%	-1.51%	6.28%	3.83%	2.55%	1.20%	2.87%
Return on Assets (ROA)	0.14%	-0.07%	1.49%	1.03%	-0.28%	-1.63%	2.23%	1.44%	0.22%	-0.67%	0.89%
Return on Common Equity (ROCE)	7.37%	-2.50%	18.58%	14.52%	6.19%	-8.58%	22.42%	19.78%	15.82%	2.71%	7.79%
Return on Equity Simple (ROE_SIMPLE)	0.00%	13.97%	13.21%	8.67%	0.00%	3.44%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	11	-3.41	28	22	10	-8.23	31	31	24	7.03	18
NOPAT Margin	0.51%	-0.16%	1.17%	0.98%	0.51%	-0.45%	1.53%	1.51%	1.34%	0.40%	0.75%
Net Nonoperating Expense Percent (NNEP)	1.50%	-0.35%	1.78%	1.69%	1.65%	0.57%	1.38%	2.39%	3.07%	1.87%	1.28%
Return On Investment Capital (ROIC_SIMPLE)	0.86%	-	-	-	0.74%	-0.61%	2.21%	2.20%	1.75%	0.49%	1.30%
Cost of Revenue to Revenue	72.24%	72.49%	72.31%	71.36%	71.09%	72.45%	70.90%	71.91%	71.57%	73.41%	77.65%
SG&A Expenses to Revenue	1.71%	2.03%	1.78%	1.70%	1.99%	2.28%	2.04%	1.98%	2.41%	2.26%	1.86%
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	26.62%	27.75%	25.90%	26.82%	28.19%	28.19%	26.27%	26.31%	27.24%	26.02%	21.06%
Earnings before Interest and Taxes (EBIT)	25	-4.87	43	42	14	-12	57	36	21	10	30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	57	26	73	72	45	19	87	63	49	37	60
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.42	2.52	2.65	2.90	2.76	1.79	1.82	1.89	1.89	1.56	2.24
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)	0.10	0.07	0.08	0.09	0.09	0.05	0.06	0.07	0.07	0.08	0.11
Price to Earnings (P/E)	33.04	21.54	23.90	44.01	50.54	151.77	53.20	40.12	29.77	26.78	99.63
Dividend Yield	1.48%	2.13%	1.92%	1.71%	1.82%	3.04%	2.84%	2.63%	2.64%	2.16%	1.49%
Earnings Yield	3.03%	4.64%	4.18%	2.27%	1.98%	0.66%	1.88%	2.49%	3.36%	3.73%	1.00%
Enterprise Value to Invested Capital (EV/IC)	1.59	1.33	1.39	1.49	1.44	1.19	1.20	1.22	1.22	1.19	1.45
Enterprise Value to Revenue (EV/Rev)	0.19	0.17	0.17	0.18	0.18	0.15	0.16	0.17	0.17	0.18	0.20
Enterprise Value to EBITDA (EV/EBITDA)	7.53	6.94	6.97	7.19	7.46	6.23	5.91	6.21	6.05	5.90	7.64
Enterprise Value to EBIT (EV/EBIT)	15.31	15.28	15.00	15.52	17.02	14.85	13.02	13.95	12.88	11.24	16.37
Enterprise Value to NOPAT (EV/NOPAT)	20.69	18.47	19.23	22.24	22.07	14.73	21.43	16.63	16.49	17.58	22.04
Enterprise Value to Operating Cash Flow (EV/OCF)	13.27	11.97	8.95	6.35	7.21	5.13	5.70	7.78	6.84	8.31	10.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	35.56	25.13	10.93	16.85	6.83	10.29	14.68	11.43	0.00	23.95
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.81	3.04	2.95	2.88	2.90	3.07	3.06	2.98	3.03	1.75	1.53
Long-Term Debt to Equity	2.77	2.99	2.90	2.84	2.86	3.03	2.95	2.88	2.93	1.59	1.50
Financial Leverage	1.82	2.19	2.07	1.96	1.99	2.19	2.06	1.90	1.95	1.48	1.35
Leverage Ratio	9.12	9.79	9.82	9.66	9.66	10.08	9.90	9.66	9.62	7.85	7.66
Compound Leverage Factor	0.87	14.74	4.93	4.17	-3.59	21.95	6.49	4.24	0.74	-6.34	4.13
Debt to Total Capital	73.78%	75.23%	74.70%	74.26%	74.34%	75.41%	75.39%	74.87%	75.17%	63.69%	60.41%
Short-Term Debt to Total Capital	1.17%	1.19%	1.23%	1.04%	0.88%	0.97%	2.69%	2.49%	2.48%	6.04%	1.11%
Long-Term Debt to Total Capital	72.61%	74.04%	73.47%	73.21%	73.46%	74.45%	72.70%	72.38%	72.69%	57.65%	59.30%
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	6.97%	6.86%	6.78%	6.77%	6.81%	6.92%	6.74%	6.73%	6.76%	10.68%	11.70%
Common Equity to Total Capital	19.25%	17.91%	18.52%	18.97%	18.85%	17.66%	17.86%	18.39%	18.07%	25.64%	27.89%
Debt to EBITDA	4.41	4.78	4.77	4.83	5.09	5.24	5.03	5.20	5.10	4.15	4.15
Net Debt to EBITDA	3.17	3.63	3.42	3.16	3.44	3.55	3.29	3.33	3.27	2.60	2.53
Long-Term Debt to EBITDA	4.34	4.71	4.69	4.77	5.03	5.17	4.85	5.03	4.94	3.76	4.08
Debt to NOPAT	12.12	12.73	13.14	14.96	15.06	12.40	18.24	13.92	13.91	12.38	11.99
Net Debt to NOPAT	8.71	9.66	9.42	9.78	10.17	8.39	11.94	8.93	8.91	7.74	7.32
Long-Term Debt to NOPAT	11.93	12.53	12.92	14.75	14.88	12.24	17.59	13.46	13.45	11.21	11.77
Altman Z-Score	2.90	2.83	2.82	2.75	2.70	2.55	2.51	2.45	2.41	2.39	2.57
Noncontrolling Interest Sharing Ratio	26.43%	27.16%	26.65%	26.08%	26.56%	27.91%	27.10%	26.56%	26.88%	28.91%	28.72%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.54	1.53	1.58	1.63	1.62	1.55	1.55	1.62	1.66	1.62	1.60
Quick Ratio	0.73	0.73	0.80	0.87	0.81	0.82	0.86	0.91	0.92	0.93	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-126	-45	8.24	98	33	93	97	41	59	-75	12
Operating Cash Flow to CapEx	176.66%	46.91%	0.00%	386.93%	66.97%	161.23%	126.73%	212.02%	169.39%	63.60%	133.83%
Free Cash Flow to Firm to Interest Expense	-5.20	-1.83	0.33	3.67	1.49	4.00	4.18	1.75	2.61	-3.61	0.59
Operating Cash Flow to Interest Expense	2.37	0.52	3.12	4.08	1.04	1.86	2.38	2.10	1.95	0.90	2.13
Operating Cash Flow Less CapEx to Interest Expense	1.03	-0.59	4.29	3.03	-0.51	0.71	0.50	1.11	0.80	-0.52	0.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.73	2.61	2.53	2.42	2.40	2.35	2.22	2.16	2.14	2.11	2.21
Accounts Receivable Turnover	74.45	65.31	63.97	60.34	75.74	63.17	60.46	68.12	83.46	56.11	60.24
Inventory Turnover	29.10	31.09	30.07	29.17	26.03	25.88	25.25	25.58	25.98	25.55	28.20
Fixed Asset Turnover	13.56	12.33	12.52	11.95	11.72	11.41	10.96	10.64	10.28	10.15	10.60
Accounts Payable Turnover	31.91	33.72	32.27	31.97	31.06	28.29	27.01	28.82	31.60	27.34	30.20
Days Sales Outstanding (DSO)	4.90	5.59	5.71	6.05	4.82	5.78	6.04	5.36	4.37	6.50	6.06
Days Inventory Outstanding (DIO)	12.54	11.74	12.14	12.51	14.02	14.11	14.46	14.27	14.05	14.28	12.95
Days Payable Outstanding (DPO)	11.44	10.82	11.31	11.42	11.75	12.90	13.51	12.67	11.55	13.35	12.09
Cash Conversion Cycle (CCC)	6.00	6.50	6.53	7.15	7.09	6.98	6.98	6.96	6.87	7.44	6.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,137	1,194	1,163	1,096	1,115	1,092	1,096	1,086	1,079	1,174	1,102
Invested Capital Turnover	8.81	8.01	8.08	7.91	7.76	7.43	7.17	7.19	6.97	6.70	7.22
Increase / (Decrease) in Invested Capital	137	41	20	-76	-22	-102	-66	-11	-35	82	5.80
Enterprise Value (EV)	1,806	1,592	1,612	1,629	1,601	1,294	1,314	1,328	1,318	1,395	1,601
Market Capitalization	945	659	722	813	763	457	482	515	506	617	901
Book Value per Share	$2.36	$2.23	$2.36	$2.42	$2.39	$2.20	$2.32	$2.42	$2.40	$3.57	$3.58
Tangible Book Value per Share	($1.97)	($2.03)	($1.91)	($1.80)	($1.77)	($1.91)	($1.81)	($1.71)	($1.73)	($0.53)	($0.42)
Total Capital	1,435	1,458	1,475	1,476	1,469	1,445	1,483	1,485	1,479	1,542	1,442
Total Debt	1,058	1,097	1,102	1,096	1,092	1,090	1,118	1,112	1,112	982	871
Total Long-Term Debt	1,042	1,080	1,083	1,081	1,079	1,076	1,078	1,075	1,075	889	855
Net Debt	761	832	790	716	738	737	732	713	712	614	531
Capital Expenditures (CapEx)	32	27	-29	28	34	27	44	23	26	29	32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	34	63	44	-8.17	-8.08	-25	-20	-7.52	-8.80	91	28
Debt-free Net Working Capital (DFNWC)	280	273	300	316	290	270	302	325	321	388	296
Net Working Capital (NWC)	263	256	281	301	277	256	262	288	285	295	280
Net Nonoperating Expense (NNE)	10	-2.81	14	13	12	4.44	11	17	22	13	8.07
Net Nonoperating Obligations (NNO)	761	832	790	716	738	737	732	713	712	614	531
Total Depreciation and Amortization (D&A)	31	30	30	30	30	31	31	27	27	27	30
Debt-free, Cash-free Net Working Capital to Revenue	0.37%	0.67%	0.47%	-0.09%	-0.09%	-0.29%	-0.25%	-0.10%	-0.12%	1.21%	0.35%
Debt-free Net Working Capital to Revenue	2.97%	2.91%	3.22%	3.52%	3.32%	3.18%	3.73%	4.14%	4.20%	5.11%	3.74%
Net Working Capital to Revenue	2.79%	2.72%	3.02%	3.35%	3.17%	3.02%	3.24%	3.67%	3.72%	3.88%	3.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.11	$0.00	($0.07)	$0.04
Adjusted Weighted Average Basic Shares Outstanding	118.78M	117.28M	115.76M	115.77M	116.14M	115.88M	114.01M	112.72M	113.31M	111.32M	112.19M
Adjusted Diluted Earnings per Share	($0.01)	($0.02)	$0.11	$0.07	($0.03)	($0.12)	$0.16	$0.10	$0.01	($0.07)	$0.04
Adjusted Weighted Average Diluted Shares Outstanding	119.61M	117.28M	116.88M	117.89M	116.95M	115.88M	115.41M	115.20M	114.98M	111.32M	115.88M
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	116.18M	115.74M	115.77M	115.77M	115.77M	113.95M	112.74M	111.43M	110.89M	112.19M	112.19M
Normalized Net Operating Profit after Tax (NOPAT)	18	-3.41	28	22	10	-8.23	31	31	15	7.03	18
Normalized NOPAT Margin	0.79%	-0.16%	1.17%	0.98%	0.51%	-0.45%	1.53%	1.51%	0.84%	0.40%	0.75%
Pre Tax Income Margin	0.11%	-0.35%	0.90%	0.79%	-0.27%	-1.40%	1.86%	0.78%	0.09%	-0.46%	0.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.05	-0.20	1.74	1.55	0.66	-0.50	2.44	1.53	0.94	0.48	1.54
NOPAT to Interest Expense	0.47	-0.14	1.13	0.83	0.46	-0.35	1.32	1.30	1.06	0.34	0.88
EBIT Less CapEx to Interest Expense	-0.29	-1.31	2.91	0.50	-0.90	-1.66	0.57	0.54	-0.21	-0.93	-0.06
NOPAT Less CapEx to Interest Expense	-0.87	-1.25	2.30	-0.22	-1.10	-1.51	-0.56	0.31	-0.10	-1.08	-0.71
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	57.92%	54.81%	55.10%	81.56%	94.82%	224.34%	132.40%	104.95%	85.17%	64.52%	117.25%
Augmented Payout Ratio	155.40%	228.25%	199.55%	248.37%	248.28%	309.32%	244.49%	216.71%	208.13%	158.34%	219.18%

Financials Breakdown Chart

Key Financial Trends

ARKO’s latest quarter shows a sharp swing back into losses, but cash generation remains decent and the balance sheet is still supported by a large cash position.

Q1 2026 operating cash flow was $18.7 million, showing the business is still generating cash from day-to-day operations despite the net loss.
ARKO ended Q1 2026 with $272.1 million in cash and equivalents, plus $17.0 million in restricted cash and $7.2 million in short-term investments.
Gross profit in Q1 2026 was $471.1 million on revenue of $1.77 billion, so the core business is still producing meaningful margin dollars.
The company generated strong operating cash flow throughout much of 2025, including $44.6 million in Q4 2025 and $49.4 million in Q3 2025.
Revenue has been relatively stable quarter-to-quarter over the past year, ranging from roughly $1.77 billion to $2.02 billion in the latest periods.
Q1 2026 was a weaker quarter than Q4 2025, with operating income falling to $10.0 million from $21.5 million in the prior quarter.
The company continues to spend on the business, with Q1 2026 capital expenditures of $30.3 million.
ARKO also continues paying dividends and repurchasing stock, though these amounts are modest relative to its overall cash flow.
Long-term balance sheet items remain large, including $299.97 million of goodwill and $154.60 million of intangible assets, which investors typically watch for impairment risk.
Q1 2026 ended with a net loss of $5.6 million, versus net income of $1.9 million in Q4 2025 and $13.5 million in Q3 2025.
Operating margin weakened meaningfully in Q1 2026 as operating income was only $10.0 million on $1.77 billion of revenue.
Interest expense remains a major drag, with Q1 2026 interest expense of $20.7 million and cash interest paid of $13.3 million.
Debt remains elevated, including $691.0 million of long-term debt and $93.2 million of short-term debt at the end of Q1 2026.
Total liabilities of $3.02 billion are very large compared with common equity of just $395.4 million, leaving the capital structure highly leveraged.

Bottom line: ARKO’s latest quarter was a setback on earnings, but the company is still producing operating cash flow and has a sizable cash cushion. The bigger issue for investors is leverage: debt and interest costs remain high, so sustained improvement in margins will be important before the stock can show a cleaner fundamental trend.

08/16/26 08:24 AM 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 8/7/2026 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

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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?

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

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