Arko Corp.

arkocorp.com

What Do They Do?

Runs convenience stores selling fuel and merchandise to retail customers, supplies fuel to dealers and other wholesale buyers, and provides fleet fueling to commercial and municipal customers.

How Do They Make Money?

Fuel accounts for 79% of revenue. Retail customers pay for fuel and merchandise at delivery, dealers buy fuel when it is delivered, and ARKO shares the gross profit on consignment fuel sold to end customers.

revenue

Segment	Share	How money arrives
Fuel Products Sold outright	79%	Sold outright
Merchandise Products Sold outright	19%	Sold outright
Other Revenue	1.6%

Who Are Their Customers?

Retail customers shop at ARKO’s convenience stores; dealers, sub-wholesalers and bulk or spot purchasers buy fuel from its wholesale business. Commercial and municipal customers use its cardlock locations and fuel cards, which provide access to a nationwide fueling network.

Do Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2025 and turned 1 cent into free cash flow.

Operating income, FY2025

1% of revenue

▲ +9% vs FY2024 ($94M, 1%)

Net income, FY2025

0% of revenue

▲ +9% vs FY2024 ($20.8M, 0%)

Free cash flow, FY2025

1% of revenue

▼ −40% vs FY2024 ($107.9M, 1%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +17%; vs $2B in Q2 FY2025
Net income: ▼ −70%; vs $20.1M in Q2 FY2025

Fuel Revenue share of revenue vs 78.5% in Q2 FY2025

Aug 7, 2026 Subsidiary agreed to acquire a fuel supply and distribution platform The planned purchase would add dealer locations, terminals and transportation capacity; ARKO also reaffirmed annual earnings guidance and raised its retail fuel-margin outlook.

Flat. Revenue was $7.6B in FY2025, about the same as the $7.4B of FY2021.

Dealer conversions The older report presents the retail and wholesale segments as separate operations; the latest describes actively converting retail stores into dealer locations supplied through its wholesale business.

Food-focused store format The older report describes varied foodservice and branded restaurant offerings; the latest adds remodeled fas craves stores centered on hot and cold grab-and-go food and drinks.

Revenue over time

Fuel Products Merchandise Products Other Revenue

$10B$5B$0

FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with 7-Eleven/Speedway, Circle K, Casey’s, Murphy USA, Quik Trip, Royal Farms, Sheetz, Wawa, Family Dollar, Dollar General, CVS, Walgreens, Costco, and Wal-Mart

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