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Cintas (CTAS) Financials

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$226.27 +2.87 (+1.28%)
Closing price 08/8/2025 04:00 PM Eastern
Extended Trading
$226.85 +0.58 (+0.25%)
As of 08/8/2025 07:54 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Cintas

Annual Income Statements for Cintas

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 431 694 481 843 885 876 1,111 1,236 1,348 1,572 1,812
Consolidated Net Income / (Loss)		 431 694 481 843 885 876 1,111 1,236 1,348 1,572 1,812
Net Income / (Loss) Continuing Operations		 403 449 457 784 883 876 1,111 1,236 1,348 1,572 1,812
Total Pre-Tax Income 		641 705 687 841 1,102 1,058 1,288 1,499 1,693 1,974 2,264
Total Operating Income		 684 769 774 950 1,134 1,163 1,385 1,587 1,803 2,069 2,360
Total Gross Profit		 1,893 2,101 2,380 2,909 3,129 3,234 3,315 3,632 4,173 4,686 5,174
Total Revenue		 4,370 4,796 5,323 6,477 6,892 7,085 7,116 7,854 8,816 9,597 10,340
Operating Revenue		 4,370 4,796 5,323 6,477 6,892 7,085 7,116 7,854 8,816 9,597 10,340
Total Cost of Revenue		 2,477 2,694 2,943 3,568 3,764 3,851 3,802 4,222 4,642 4,910 5,166
Operating Cost of Revenue		 2,477 2,694 2,943 3,568 3,764 3,851 3,802 4,222 4,642 4,910 5,166
Total Operating Expenses		 1,209 1,332 1,607 1,959 1,995 2,071 1,929 2,045 2,371 2,618 2,814
Selling, General & Admin Expense		 1,209 1,332 1,527 1,917 1,981 2,071 1,929 2,045 2,371 2,618 2,814
Total Other Income / (Expense), net		 -43 -64 -86 -109 -31 -104 -98 -89 -110 -95 -96
Interest Expense		 65 65 87 110 102 105 98 89 111 101 101
Interest & Investment Income		 22 0.90 0.24 1.34 71 0.99 0.47 0.24 1.72 5.74 5.58
Income Tax Expense		 238 257 230 57 220 182 177 263 345 402 452
Basic Earnings per Share		 $3.68 $6.30 $4.49 $7.78 $8.25 $8.36 $10.52 $11.92 $3.30 $3.85 $4.48
Weighted Average Basic Shares Outstanding		 115.90M 108.22M 104.96M 108.30M 107.30M 103.50M 102.97M 101.19M 101.74M 100.77M 402.98M
Diluted Earnings per Share		 $3.63 $6.21 $4.38 $7.56 $7.99 $8.11 $10.24 $11.65 $3.25 $3.79 $4.40
Weighted Average Diluted Shares Outstanding		 115.90M 108.22M 104.96M 108.30M 107.30M 103.50M 102.97M 101.19M 101.74M 100.77M 402.98M
Weighted Average Basic & Diluted Shares Outstanding		 115.90M 108.22M 104.96M 108.30M 107.30M 103.50M 102.97M 101.19M 101.74M 100.77M 402.98M
Cash Dividends to Common per Share		 $1.70 $1.05 $1.33 $1.62 $2.05 $2.55 $5.01 $3.80 $1.15 $1.35 $1.56

Quarterly Income Statements for Cintas

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 11/30/2022 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 324 326 346 385 375 398 414 452 448 463 448
Consolidated Net Income / (Loss)		 324 326 346 385 375 398 414 452 448 463 448
Net Income / (Loss) Continuing Operations		 324 326 346 385 375 398 414 452 448 463 448
Total Pre-Tax Income 		416 418 446 476 474 496 527 537 566 586 575
Total Operating Income		 445 447 471 501 500 521 548 561 591 610 597
Total Gross Profit		 1,022 1,034 1,089 1,142 1,142 1,188 1,215 1,252 1,277 1,319 1,326
Total Revenue		 2,175 2,190 2,284 2,342 2,377 2,406 2,471 2,502 2,562 2,609 2,668
Operating Revenue		 2,175 2,190 2,284 2,342 2,377 2,406 2,471 2,502 2,562 2,609 2,668
Total Cost of Revenue		 1,152 1,156 1,196 1,201 1,236 1,218 1,255 1,249 1,285 1,290 1,342
Operating Cost of Revenue		 1,152 1,156 1,196 1,201 1,236 1,218 1,255 1,249 1,285 1,290 1,342
Total Operating Expenses		 578 587 618 641 642 667 668 691 685 709 729
Selling, General & Admin Expense		 578 587 618 641 642 667 668 691 685 709 729
Total Other Income / (Expense), net		 -29 -28 -25 -24 -26 -25 -20 -24 -26 -23 -22
Interest Expense		 29 29 26 25 27 26 24 26 27 25 24
Interest & Investment Income		 0.34 0.37 0.84 0.42 0.77 0.93 3.62 1.25 0.96 1.35 2.02
Income Tax Expense		 92 93 100 91 99 99 113 85 117 123 127
Basic Earnings per Share		 $3.18 $3.19 $3.39 $0.94 $0.92 $0.98 $4.07 $1.12 $1.11 $1.14 $1.11
Weighted Average Basic Shares Outstanding		 101.62M 101.70M 101.74M 101.85M 101.37M 101.46M 100.77M 403.30M 403.54M 403.79M 402.98M
Diluted Earnings per Share		 $3.12 $3.14 $3.34 $0.93 $0.90 $0.96 $4.00 $1.10 $1.09 $1.13 $1.11
Weighted Average Diluted Shares Outstanding		 101.62M 101.70M 101.74M 101.85M 101.37M 101.46M 100.77M 403.30M 403.54M 403.79M 402.98M
Basic & Diluted Earnings per Share		 - - - - - - - - - - $1.11
Weighted Average Basic & Diluted Shares Outstanding		 101.62M 101.70M 101.74M 101.85M 101.37M 101.46M 100.77M 403.30M 403.54M 403.79M 402.98M
Cash Dividends to Common per Share		 $1.15 $1.15 $1.15 $0.34 $0.34 $0.34 $1.35 $0.39 $0.39 $0.39 $0.39

Annual Cash Flow Statements for Cintas

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Net Change in Cash & Equivalents		 -227 -524 30 -31 -42 49 348 -403 34 218 -78
Net Cash From Operating Activities		 598 836 764 964 1,068 1,291 1,361 1,538 1,586 2,069 2,166
Net Cash From Continuing Operating Activities		 580 466 764 964 1,071 1,291 1,361 1,538 1,586 2,069 2,166
Net Income / (Loss) Continuing Operations		 431 694 481 843 885 876 1,111 1,236 1,348 1,572 1,812
Consolidated Net Income / (Loss)		 431 694 481 843 885 876 1,111 1,236 1,348 1,572 1,812
Depreciation Expense		 141 150 172 215 224 236 244 249 267 281 303
Amortization Expense		 14 16 25 64 136 143 144 150 152 176 191
Non-Cash Adjustments To Reconcile Net Income		 8.43 79 117 16 70 125 95 67 104 117 109
Changes in Operating Assets and Liabilities, net		 4.04 -102 -30 -174 -244 -88 -233 -165 -285 -77 -250
Net Cash From Investing Activities		 -104 -488 -2,310 -136 -236 -285 -137 -403 -382 -603 -624
Net Cash From Continuing Investing Activities		 45 128 -2,310 -136 -236 -285 -137 -403 -382 -603 -624
Purchase of Property, Plant & Equipment		 -218 -275 -273 -272 -277 -230 -143 -241 -331 -409 -409
Acquisitions		 -15 -157 -2,102 -19 -9.81 -54 -10 -164 -46 -187 -233
Purchase of Investments		 -195 -494 -181 -154 -18 -10 -4.30 -6.08 -4.57 -7.55 -7.20
Sale of Property, Plant & Equipment		 - - - 0.00 3.20 13 32 15 0.00 0.00 24
Other Investing Activities, net		 1.38 4.14 -0.20 1.36 -7.81 -4.66 -11 -7.01 0.42 0.52 1.37
Net Cash From Financing Activities		 -713 -867 1,579 -864 -873 -955 -880 -1,538 -1,167 -1,248 -1,619
Net Cash From Continuing Financing Activities		 -713 -867 1,579 -864 -873 -955 -880 -1,538 -1,167 -1,248 -1,619
Repayment of Debt		 1.07 0.47 -273 -603 -14 -201 -4.38 -1,206 -321 -18 -472
Repurchase of Common Equity		 -552 -780 -21 -127 -1,016 -465 -554 -1,526 -399 -700 -935
Payment of Dividends		 -202 -115 -142 -176 -221 -268 -451 -375 -450 -531 -612
Issuance of Debt		 0.00 0.00 1,983 0.00 313 -113 0.00 1,452 0.00 0.00 398
Issuance of Common Equity		 40 28 32 42 65 91 130 118 3.02 1.37 0.90
Effect of Exchange Rate Changes		 -8.92 -5.22 -2.13 5.14 -1.00 -2.12 4.58 -0.22 -4.19 0.21 -1.30

Quarterly Cash Flow Statements for Cintas

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 11/30/2022 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025
Net Change in Cash & Equivalents		 15 -1.24 36 -36 -2.57 43 214 -241 21 121 21
Net Cash From Operating Activities		 321 425 554 337 393 657 693 467 441 622 636
Net Cash From Continuing Operating Activities		 321 425 554 337 393 657 693 467 441 622 636
Net Income / (Loss) Continuing Operations		 324 326 346 385 375 398 414 452 448 463 448
Consolidated Net Income / (Loss)		 324 326 346 385 375 398 414 452 448 463 448
Depreciation Expense		 64 64 66 68 69 71 73 74 76 76 78
Amortization Expense		 38 39 39 39 40 41 42 41 55 51 44
Non-Cash Adjustments To Reconcile Net Income		 25 24 28 30 23 31 32 33 28 17 31
Changes in Operating Assets and Liabilities, net		 -130 -27 74 -185 -114 117 131 -134 -165 15 35
Net Cash From Investing Activities		 -85 -97 -120 -170 -112 -221 -105 -114 -235 -125 -149
Net Cash From Continuing Investing Activities		 -85 -97 -120 -170 -112 -221 -105 -114 -235 -125 -149
Purchase of Property, Plant & Equipment		 -76 -78 -107 -107 -94 -107 -102 -93 -101 -100 -115
Acquisitions		 -8.40 -18 -13 -56 -18 -111 -1.81 -9.44 -145 -44 -34
Purchase of Investments		 0.75 0.56 0.05 -6.53 -0.95 -0.12 0.05 -7.12 0.03 0.03 -0.13
Other Investing Activities, net		 -0.79 -2.51 0.25 -0.96 0.77 -2.90 -1.68 -4.85 6.25 0.39 -0.42
Net Cash From Financing Activities		 -220 -328 -398 -202 -283 -394 -374 -593 -184 -374 -468
Net Cash From Continuing Financing Activities		 -220 -328 -398 -202 -283 -394 -374 -593 -184 -374 -468
Repayment of Debt		 -3.58 -3.16 -54 -12 -5.76 -1.52 -4.63 -5.98 -5.45 -8.01 -452
Repurchase of Common Equity		 -28 -22 -28 -73 -350 -45 -232 -615 -37 -27 -257
Payment of Dividends		 -117 -117 -117 -118 -138 -137 -138 -138 -157 -158 -158
Issuance of Common Equity		 1.08 0.82 0.08 0.48 0.45 0.35 0.10 0.23 0.34 0.12 0.20
Effect of Exchange Rate Changes		 -0.75 -0.87 0.27 -0.76 0.54 0.56 -0.14 -0.25 -1.56 -1.98 2.49

Annual Balance Sheets for Cintas

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Total Assets		 4,192 4,099 6,844 6,958 7,437 7,670 8,237 8,147 8,546 9,169 9,825
Total Current Assets		 1,736 1,591 1,954 1,978 2,236 2,310 2,843 2,632 2,938 3,185 3,436
Cash & Equivalents		 417 139 169 139 97 145 494 90 124 342 264
Accounts Receivable		 496 546 736 805 910 870 902 1,006 1,153 1,244 1,417
Inventories, net		 226 249 278 280 335 409 482 472 507 410 447
Prepaid Expenses		 24 26 30 32 103 115 134 125 143 149 170
Other Current Assets		 534 538 636 702 784 770 810 917 1,012 1,040 1,137
Plant, Property, & Equipment, net		 871 994 1,324 1,383 1,431 1,403 1,318 1,324 1,396 1,534 1,652
Total Noncurrent Assets		 1,585 1,515 3,566 3,598 3,770 3,957 4,075 4,192 4,211 4,449 4,737
Long-Term Investments		 330 125 165 176 192 - 275 243 247 302 340
Goodwill		 1,196 1,276 2,782 2,847 2,842 2,870 2,913 3,043 3,056 3,212 3,400
Intangible Assets		 42 78 587 546 495 - 408 392 347 322 310
Other Noncurrent Operating Assets		 17 14 32 29 240 1,087 479 514 561 613 687
Total Liabilities & Shareholders' Equity		 4,192 4,099 6,844 6,958 7,437 7,670 8,237 8,147 8,546 9,169 9,825
Total Liabilities		 2,260 2,256 4,541 3,942 4,434 4,435 4,549 4,839 4,682 4,852 5,141
Total Current Liabilities		 509 816 1,131 776 1,128 885 1,934 1,433 1,230 1,829 1,645
Short-Term Debt		 0.00 250 363 0.00 312 0.00 899 312 0.00 450 0.00
Accounts Payable		 110 111 177 215 226 231 231 252 302 339 485
Accrued Expenses		 310 343 430 420 434 457 519 589 633 761 875
Current Deferred & Payable Income Tax Liabilities		 - - - - 0.00 27 - 0.00 12 19 4.03
Current Employee Benefit Liabilities		 88 101 150 141 156 127 241 237 239 214 230
Other Current Liabilities		 - - - - 0.00 43 44 44 44 46 51
Total Noncurrent Liabilities		 1,751 1,441 3,410 3,166 3,306 3,549 2,615 3,406 3,452 3,024 3,496
Long-Term Debt		 1,300 1,044 2,771 2,535 2,538 2,540 1,643 2,484 2,486 2,026 2,425
Noncurrent Deferred & Payable Income Tax Liabilities		 339 259 469 353 438 389 387 474 498 476 472
Other Noncurrent Operating Liabilities		 112 137 170 278 331 621 585 448 468 522 600
Total Equity & Noncontrolling Interests		 1,932 1,843 2,303 3,017 3,003 3,235 3,688 3,308 3,864 4,316 4,684
Total Preferred & Common Equity		 1,932 1,843 2,303 3,017 3,003 3,235 3,688 3,308 3,864 4,316 4,684
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,932 1,843 2,303 3,017 3,003 3,235 3,688 3,308 3,864 4,316 4,684
Common Stock		 486 615 709 864 1,068 1,274 1,516 1,772 2,032 2,305 2,593
Retained Earnings		 4,228 4,806 5,171 5,838 6,691 7,297 7,877 8,719 9,597 10,618 11,798
Treasury Stock		 -2,773 -3,553 -3,574 -3,701 -4,718 -5,182 -5,736 -7,291 -7,843 - -9,792
Accumulated Other Comprehensive Income / (Loss)		 -8.47 -25 -3.03 16 -39 -153 31 108 78 91 84

Quarterly Balance Sheets for Cintas

This table presents Cintas' 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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 8/31/2022 11/30/2022 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025
Total Assets		 8,261 8,427 8,466 8,546 8,720 8,814 8,979 9,169 9,069 9,367 9,611
Total Current Assets		 2,748 2,893 2,910 2,938 2,988 3,037 3,031 3,185 3,043 3,170 3,341
Cash & Equivalents		 75 90 89 124 88 86 128 342 101 122 243
Accounts Receivable		 1,083 1,136 1,133 1,153 1,197 1,274 1,262 1,244 1,294 1,370 1,398
Inventories, net		 474 515 531 507 498 475 451 410 399 395 421
Prepaid Expenses		 163 153 155 143 182 167 164 149 188 178 179
Current Deferred & Refundable Income Taxes		 0.00 14 2.99 - - - - 0.00 - 11 0.66
Other Current Assets		 954 987 999 1,012 1,022 1,036 1,026 1,040 1,061 1,094 1,100
Plant, Property, & Equipment, net		 1,329 1,341 1,358 1,396 1,439 1,464 1,506 1,534 1,555 1,591 1,610
Total Noncurrent Assets		 4,184 4,193 4,198 4,211 4,293 4,313 4,442 4,449 4,471 4,605 4,659
Long-Term Investments		 239 244 242 247 267 270 294 302 326 340 337
Goodwill		 3,037 3,038 3,044 3,056 3,105 3,121 3,212 3,212 3,224 3,323 3,354
Intangible Assets		 379 368 536 347 522 509 522 322 311 508 525
Other Noncurrent Operating Assets		 528 544 377 561 399 414 413 613 610 435 444
Total Liabilities & Shareholders' Equity		 8,261 8,427 8,466 8,546 8,720 8,814 8,979 9,169 9,069 9,367 9,611
Total Liabilities		 5,031 4,996 4,833 4,682 4,642 4,819 4,745 4,852 5,047 5,073 5,019
Total Current Liabilities		 1,600 1,554 1,388 1,230 1,169 1,358 1,274 1,829 1,985 2,008 1,941
Short-Term Debt		 507 435 249 0.00 - 210 - 450 616 631 450
Accounts Payable		 292 311 282 302 315 317 308 339 396 418 408
Accrued Expenses		 544 556 611 633 592 619 721 761 717 754 825
Current Deferred & Payable Income Tax Liabilities		 36 - - 12 101 13 18 19 85 0.00 0.00
Current Employee Benefit Liabilities		 177 208 204 239 117 154 183 214 125 158 209
Other Current Liabilities		 44 43 43 44 44 44 44 46 47 47 49
Total Noncurrent Liabilities		 3,432 3,443 3,444 3,452 3,473 3,462 3,471 3,024 3,062 3,066 3,078
Long-Term Debt		 2,485 2,485 2,486 2,486 2,477 2,474 2,475 2,026 2,026 2,027 2,027
Noncurrent Deferred & Payable Income Tax Liabilities		 488 493 497 498 500 497 481 476 474 477 467
Other Noncurrent Operating Liabilities		 460 464 462 468 496 490 515 522 561 562 583
Total Equity & Noncontrolling Interests		 3,230 3,431 3,633 3,864 4,078 3,994 4,234 4,316 4,021 4,293 4,592
Total Preferred & Common Equity		 3,230 3,431 3,633 3,864 4,078 3,994 4,234 4,316 4,021 4,293 4,592
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,230 3,431 3,633 3,864 4,078 3,994 4,234 4,316 4,021 4,293 4,592
Common Stock		 1,879 1,933 1,982 2,032 2,121 2,180 2,246 2,305 2,416 2,474 2,526
Retained Earnings		 8,953 9,160 9,369 9,597 9,844 10,081 10,341 10,618 10,912 11,203 11,508
Treasury Stock		 -7,691 - -7,793 -7,843 -7,975 - -8,440 - - - -9,499
Accumulated Other Comprehensive Income / (Loss)		 88 84 76 78 87 93 86 91 83 69 57

Annual Metrics And Ratios for Cintas

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 4.19% 9.75% 11.00% 21.66% 6.42% 2.80% 0.44% 10.37% 12.24% 8.86% 7.75%
EBITDA Growth		 5.69% 11.39% 3.86% 26.69% 21.51% 3.22% 15.03% 12.05% 11.31% 13.53% 13.00%
EBIT Growth		 13.43% 12.48% 0.62% 22.77% 19.34% 2.57% 19.16% 14.57% 13.56% 14.75% 14.07%
NOPAT Growth		 13.35% 13.84% 5.24% 72.02% 2.51% 6.09% 24.15% 9.50% 9.66% 14.77% 14.66%
Net Income Growth		 15.00% 61.05% -30.69% 75.28% 5.03% -1.01% 26.82% 11.23% 9.08% 16.59% 15.32%
EPS Growth		 19.02% 71.07% -29.47% 72.60% 5.69% 1.50% 26.26% 13.77% 11.50% 16.63% 16.10%
Operating Cash Flow Growth		 -1.29% 39.71% -8.59% 26.22% 10.76% 20.94% 5.36% 13.00% 3.91% 30.16% 4.71%
Free Cash Flow Firm Growth		 -44.62% -67.03% -1,165.23% 139.68% -17.00% 54.20% 52.02% -26.65% 22.66% 20.55% 3.50%
Invested Capital Growth		 -2.90% 13.20% 82.27% 3.65% 6.22% 1.19% -2.98% 5.66% 3.62% 2.82% 5.83%
Revenue Q/Q Growth		 4.21% 2.71% 7.44% 2.20% 1.83% -2.40% 3.13% 3.14% 2.44% 1.98% 1.94%
EBITDA Q/Q Growth		 -0.34% 3.17% 0.98% 8.65% 4.78% -6.33% 9.28% 2.70% 3.22% 3.57% 2.03%
EBIT Q/Q Growth		 0.54% 3.39% -1.63% 10.24% 4.51% -8.43% 12.05% 3.12% 3.82% 3.86% 2.16%
NOPAT Q/Q Growth		 0.20% 3.52% -1.46% 11.14% 4.33% -7.74% 11.31% 1.92% 3.86% 4.09% 1.89%
Net Income Q/Q Growth		 -4.86% 3.85% -8.85% 13.76% 4.73% -8.51% 12.47% 2.21% 3.99% 4.53% 1.91%
EPS Q/Q Growth		 -3.46% 5.43% -9.50% 13.51% 5.41% -8.05% 12.16% 3.01% 4.25% 4.55% 0.00%
Operating Cash Flow Q/Q Growth		 0.75% 61.43% -25.28% 2.46% 9.64% -3.02% 7.85% 6.56% 0.19% 7.19% -2.58%
Free Cash Flow Firm Q/Q Growth		 -55.96% -19.60% -837.09% 149.09% 26.41% -17.63% 53.94% -22.24% 6.99% 10.83% -7.28%
Invested Capital Q/Q Growth		 -1.19% 1.01% 66.91% -0.27% -1.73% 0.24% -5.91% -0.55% -0.97% -2.20% 0.26%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 43.32% 43.82% 44.71% 44.91% 45.39% 45.64% 46.58% 46.24% 47.34% 48.83% 50.04%
EBITDA Margin		 19.19% 19.48% 18.23% 18.98% 21.67% 21.76% 24.92% 25.30% 25.09% 26.17% 27.60%
Operating Margin		 15.65% 16.03% 14.53% 14.67% 16.45% 16.41% 19.47% 20.21% 20.45% 21.56% 22.82%
EBIT Margin		 15.65% 16.03% 14.53% 14.67% 16.45% 16.41% 19.47% 20.21% 20.45% 21.56% 22.82%
Profit (Net Income) Margin		 9.85% 14.46% 9.03% 13.01% 12.84% 12.36% 15.61% 15.73% 15.29% 16.38% 17.53%
Tax Burden Percent		 67.23% 98.33% 69.93% 100.19% 80.28% 82.78% 86.27% 82.45% 79.62% 79.63% 80.04%
Interest Burden Percent		 93.70% 91.73% 88.85% 88.54% 97.25% 91.02% 92.95% 94.42% 93.92% 95.41% 95.95%
Effective Tax Rate		 37.16% 36.40% 33.48% 6.79% 19.94% 17.19% 13.73% 17.55% 20.38% 20.37% 19.96%
Return on Invested Capital (ROIC)		 17.28% 18.73% 13.15% 17.21% 16.81% 17.20% 21.55% 23.31% 24.43% 27.17% 29.85%
ROIC Less NNEP Spread (ROIC-NNEP)		 17.52% 47.01% 11.31% 15.49% 15.86% 13.70% 17.51% 19.86% 20.62% 23.33% 25.67%
Return on Net Nonoperating Assets (RNNOA)		 3.59% 18.01% 10.04% 14.47% 12.60% 10.88% 10.54% 12.02% 13.16% 11.26% 10.42%
Return on Equity (ROE)		 20.88% 36.74% 23.19% 31.68% 29.41% 28.09% 32.09% 35.33% 37.59% 38.42% 40.27%
Cash Return on Invested Capital (CROIC)		 20.23% 6.35% -45.13% 13.62% 10.77% 16.02% 24.58% 17.81% 20.88% 24.39% 24.19%
Operating Return on Assets (OROA)		 15.80% 18.55% 14.14% 13.76% 15.75% 15.39% 17.42% 19.38% 21.60% 23.35% 24.85%
Return on Assets (ROA)		 9.95% 16.73% 8.79% 12.21% 12.30% 11.60% 13.97% 15.08% 16.15% 17.74% 19.08%
Return on Common Equity (ROCE)		 20.88% 36.74% 23.19% 31.68% 29.41% 28.09% 32.09% 35.33% 37.59% 38.42% 40.27%
Return on Equity Simple (ROE_SIMPLE)		 22.28% 37.64% 20.88% 27.93% 29.47% 27.08% 30.13% 37.35% 34.89% 36.41% 0.00%
Net Operating Profit after Tax (NOPAT)		 430 489 515 885 908 963 1,195 1,309 1,435 1,647 1,889
NOPAT Margin		 9.83% 10.20% 9.67% 13.67% 13.17% 13.59% 16.80% 16.66% 16.28% 17.16% 18.27%
Net Nonoperating Expense Percent (NNEP)		 -0.23% -28.28% 1.85% 1.72% 0.94% 3.50% 4.05% 3.45% 3.81% 3.83% 4.19%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - - 26.57%
Cost of Revenue to Revenue		 56.68% 56.18% 55.29% 55.09% 54.61% 54.36% 53.42% 53.76% 52.66% 51.17% 49.96%
SG&A Expenses to Revenue		 27.67% 27.78% 28.69% 29.60% 28.74% 29.23% 27.11% 26.03% 26.89% 27.28% 27.22%
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		 27.67% 27.78% 30.18% 30.24% 28.95% 29.23% 27.11% 26.03% 26.89% 27.28% 27.22%
Earnings before Interest and Taxes (EBIT)		 684 769 774 950 1,134 1,163 1,385 1,587 1,803 2,069 2,360
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 839 934 970 1,229 1,494 1,542 1,773 1,987 2,212 2,511 2,854
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.60 5.03 5.32 6.03 7.30 7.61 9.76 12.06 12.28 15.90 19.52
Price to Tangible Book Value (P/TBV)		 12.80 18.96 0.00 0.00 0.00 67.45 98.24 0.00 102.92 87.78 93.86
Price to Revenue (P/Rev)		 2.03 1.93 2.30 2.81 3.18 3.48 5.06 5.08 5.38 7.15 8.84
Price to Earnings (P/E)		 20.64 13.35 25.50 21.58 24.78 28.12 32.39 32.27 35.21 43.68 50.47
Dividend Yield		 1.09% 1.21% 1.14% 0.95% 0.98% 1.08% 1.26% 0.98% 0.99% 0.80% 0.69%
Earnings Yield		 4.84% 7.49% 3.92% 4.63% 4.03% 3.56% 3.09% 3.10% 2.84% 2.29% 1.98%
Enterprise Value to Invested Capital (EV/IC)		 3.85 3.69 2.98 3.90 4.40 4.80 6.91 7.34 8.29 11.46 14.34
Enterprise Value to Revenue (EV/Rev)		 2.16 2.13 2.82 3.15 3.55 3.81 5.31 5.39 5.62 7.34 9.02
Enterprise Value to EBITDA (EV/EBITDA)		 11.24 10.94 15.50 16.60 16.40 17.53 21.29 21.31 22.42 28.07 32.68
Enterprise Value to EBIT (EV/EBIT)		 13.79 13.29 19.44 21.48 21.61 23.25 27.25 26.67 27.51 34.07 39.53
Enterprise Value to NOPAT (EV/NOPAT)		 21.94 20.90 29.22 23.05 26.99 28.07 31.59 32.35 34.55 42.79 49.39
Enterprise Value to Operating Cash Flow (EV/OCF)		 15.76 12.23 19.69 21.16 22.94 20.93 27.75 27.54 31.03 33.89 43.07
Enterprise Value to Free Cash Flow (EV/FCFF)		 18.75 61.65 0.00 29.12 42.12 30.14 27.70 42.35 40.43 47.67 60.95
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.67 0.70 1.36 0.84 0.95 0.79 0.69 0.85 0.64 0.57 0.52
Long-Term Debt to Equity		 0.67 0.57 1.20 0.84 0.85 0.79 0.45 0.75 0.64 0.47 0.52
Financial Leverage		 0.21 0.38 0.89 0.93 0.79 0.79 0.60 0.61 0.64 0.48 0.41
Leverage Ratio		 2.10 2.20 2.64 2.59 2.39 2.42 2.30 2.34 2.33 2.17 2.11
Compound Leverage Factor		 1.97 2.01 2.35 2.30 2.33 2.20 2.14 2.21 2.19 2.07 2.02
Debt to Total Capital		 40.22% 41.26% 57.64% 45.67% 48.69% 43.98% 40.80% 45.80% 39.15% 36.45% 34.11%
Short-Term Debt to Total Capital		 0.00% 7.97% 6.68% 0.00% 5.34% 0.00% 14.43% 5.10% 0.00% 6.62% 0.00%
Long-Term Debt to Total Capital		 40.22% 33.29% 50.97% 45.67% 43.36% 43.98% 26.37% 40.70% 39.15% 29.83% 34.11%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 59.78% 58.74% 42.36% 54.33% 51.31% 56.02% 59.20% 54.20% 60.85% 63.55% 65.89%
Debt to EBITDA		 1.55 1.39 3.23 2.06 1.91 1.65 1.43 1.41 1.12 0.99 0.85
Net Debt to EBITDA		 0.64 1.03 2.86 1.81 1.71 1.55 1.00 1.24 0.96 0.73 0.64
Long-Term Debt to EBITDA		 1.55 1.12 2.86 2.06 1.70 1.65 0.93 1.25 1.12 0.81 0.85
Debt to NOPAT		 3.03 2.65 6.09 2.86 3.14 2.64 2.13 2.14 1.73 1.50 1.28
Net Debt to NOPAT		 1.25 1.96 5.40 2.51 2.82 2.49 1.48 1.88 1.47 1.11 0.96
Long-Term Debt to NOPAT		 3.03 2.14 5.38 2.86 2.80 2.64 1.37 1.90 1.73 1.23 1.28
Altman Z-Score		 5.70 6.12 3.97 5.53 5.84 6.31 7.64 8.23 9.62 12.08 14.42
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.41 1.95 1.73 2.55 1.98 2.61 1.47 1.84 2.39 1.74 2.09
Quick Ratio		 1.83 0.93 0.82 1.22 0.89 1.15 0.72 0.77 1.04 0.87 1.02
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 503 166 -1,766 701 582 897 1,363 1,000 1,227 1,479 1,530
Operating Cash Flow to CapEx		 274.74% 303.47% 279.49% 354.86% 390.42% 595.18% 1,217.50% 682.40% 482.56% 507.92% 562.70%
Free Cash Flow to Firm to Interest Expense		 7.72 2.57 -20.41 6.36 5.72 8.51 13.88 11.26 11.03 14.68 15.14
Operating Cash Flow to Interest Expense		 9.18 12.95 8.83 8.75 10.50 12.25 13.86 17.31 14.36 20.65 21.42
Operating Cash Flow Less CapEx to Interest Expense		 5.84 8.68 5.67 6.29 7.81 10.20 12.72 14.77 11.39 16.58 17.61
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.01 1.16 0.97 0.94 0.96 0.94 0.89 0.96 1.06 1.08 1.09
Accounts Receivable Turnover		 8.70 9.20 8.30 8.41 8.04 7.96 8.03 8.23 8.17 8.01 7.77
Inventory Turnover		 10.37 11.33 11.16 12.78 12.24 10.36 8.54 8.85 9.49 10.71 12.05
Fixed Asset Turnover		 5.06 5.14 4.59 4.79 4.90 5.00 5.23 5.95 6.48 6.55 6.49
Accounts Payable Turnover		 19.08 24.43 20.44 18.20 17.07 16.85 16.47 17.51 16.77 15.31 12.53
Days Sales Outstanding (DSO)		 41.96 39.68 43.97 43.41 45.40 45.86 45.45 44.33 44.70 45.59 46.98
Days Inventory Outstanding (DIO)		 35.18 32.21 32.72 28.57 29.82 35.23 42.76 41.23 38.48 34.08 30.30
Days Payable Outstanding (DPO)		 19.13 14.94 17.86 20.06 21.39 21.66 22.17 20.85 21.77 23.84 29.12
Cash Conversion Cycle (CCC)		 58.00 56.95 58.82 51.92 53.83 59.44 66.04 64.72 61.40 55.82 48.15
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,449 2,772 5,053 5,238 5,564 5,630 5,461 5,770 5,979 6,148 6,506
Invested Capital Turnover		 1.76 1.84 1.36 1.26 1.28 1.27 1.28 1.40 1.50 1.58 1.63
Increase / (Decrease) in Invested Capital		 -73 323 2,281 185 326 66 -168 309 209 169 358
Enterprise Value (EV)		 9,426 10,221 15,037 20,404 24,495 27,027 37,761 42,343 49,583 70,480 93,279
Market Capitalization		 8,889 9,261 12,260 18,183 21,934 24,633 35,987 39,881 47,468 68,648 91,458
Book Value per Share		 $16.89 $17.22 $21.86 $28.27 $28.71 $31.09 $35.10 $32.33 $37.99 $42.54 $11.60
Tangible Book Value per Share		 $6.07 $4.56 ($10.13) ($3.52) ($3.20) $3.51 $3.49 ($1.24) $4.53 $7.71 $2.41
Total Capital		 3,232 3,137 5,436 5,552 5,852 5,775 6,230 6,104 6,350 6,792 7,109
Total Debt		 1,300 1,294 3,134 2,535 2,850 2,540 2,542 2,796 2,486 2,476 2,425
Total Long-Term Debt		 1,300 1,044 2,771 2,535 2,538 2,540 1,643 2,484 2,486 2,026 2,425
Net Debt		 537 960 2,777 2,221 2,561 2,394 1,774 2,462 2,115 1,831 1,822
Capital Expenditures (CapEx)		 218 275 273 272 274 217 112 225 331 409 385
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 794 815 995 1,063 1,324 1,279 1,315 1,420 1,584 1,464 1,528
Debt-free Net Working Capital (DFNWC)		 1,227 1,025 1,187 1,202 1,421 1,425 1,808 1,511 1,708 1,806 1,792
Net Working Capital (NWC)		 1,227 775 824 1,202 1,109 1,425 909 1,199 1,708 1,357 1,792
Net Nonoperating Expense (NNE)		 -0.99 -204 34 43 23 87 84 73 87 76 76
Net Nonoperating Obligations (NNO)		 517 930 2,750 2,221 2,561 2,394 1,774 2,462 2,115 1,831 1,822
Total Depreciation and Amortization (D&A)		 155 165 197 279 360 379 388 400 409 442 494
Debt-free, Cash-free Net Working Capital to Revenue		 18.17% 17.00% 18.69% 16.42% 19.21% 18.05% 18.47% 18.08% 17.97% 15.26% 14.77%
Debt-free Net Working Capital to Revenue		 28.08% 21.37% 22.29% 18.56% 20.61% 20.11% 25.41% 19.23% 19.38% 18.82% 17.33%
Net Working Capital to Revenue		 28.08% 16.16% 15.47% 18.56% 16.08% 20.11% 12.78% 15.27% 19.38% 14.14% 17.33%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.68 $6.30 $4.49 $7.78 $8.25 $8.36 $10.52 $11.92 $13.21 $15.40 $4.48
Adjusted Weighted Average Basic Shares Outstanding		 110.21M 104.21M 105.44M 106.28M 102.49M 103.50M 102.97M 101.19M 101.74M 100.77M 402.98M
Adjusted Diluted Earnings per Share		 $3.63 $6.21 $4.38 $7.56 $7.99 $8.11 $10.24 $11.65 $12.99 $15.15 $4.40
Adjusted Weighted Average Diluted Shares Outstanding		 110.21M 104.21M 105.44M 106.28M 102.49M 103.50M 102.97M 101.19M 101.74M 100.77M 402.98M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $8.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 110.21M 104.21M 105.44M 106.28M 102.49M 103.50M 102.97M 101.19M 101.74M 100.77M 402.98M
Normalized Net Operating Profit after Tax (NOPAT)		 430 489 567 924 919 963 1,195 1,309 1,435 1,647 1,889
Normalized NOPAT Margin		 9.83% 10.20% 10.66% 14.27% 13.34% 13.59% 16.80% 16.66% 16.28% 17.16% 18.27%
Pre Tax Income Margin		 14.66% 14.71% 12.91% 12.99% 15.99% 14.94% 18.10% 19.08% 19.21% 20.57% 21.90%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 10.49 11.92 8.94 8.62 11.14 11.03 14.11 17.87 16.21 20.53 23.34
NOPAT to Interest Expense		 6.59 7.58 5.95 8.04 8.92 9.14 12.17 14.73 12.90 16.35 18.68
EBIT Less CapEx to Interest Expense		 7.15 7.65 5.78 6.16 8.45 8.97 12.97 15.33 13.23 16.47 19.53
NOPAT Less CapEx to Interest Expense		 3.25 3.31 2.79 5.57 6.23 7.08 11.03 12.20 9.93 12.29 14.87
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 46.88% 16.62% 29.63% 20.84% 24.95% 30.59% 40.62% 30.36% 33.38% 33.78% 33.75%
Augmented Payout Ratio		 175.06% 129.11% 33.94% 35.95% 139.78% 83.61% 90.50% 153.83% 62.97% 78.32% 85.33%

Quarterly Metrics And Ratios for Cintas

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 11/30/2022 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 13.14% 11.70% 10.11% 8.12% 9.30% 9.87% 8.16% 6.80% 7.77% 8.44% 7.96%
EBITDA Growth		 13.80% 8.14% 13.63% 12.44% 11.49% 15.02% 15.05% 11.34% 18.48% 16.56% 6.25%
EBIT Growth		 16.71% 9.62% 16.41% 13.73% 12.31% 16.56% 16.31% 12.08% 18.35% 17.10% 9.10%
NOPAT Growth		 10.87% 4.37% 17.09% 7.83% 13.99% 19.92% 17.74% 16.80% 18.69% 15.51% 8.14%
Net Income Growth		 10.05% 3.29% 17.57% 9.50% 15.52% 22.02% 19.67% 17.39% 19.72% 16.58% 8.19%
EPS Growth		 13.04% 5.72% 18.86% 9.50% 15.52% 22.29% 19.76% 17.39% 21.11% 17.71% -72.99%
Operating Cash Flow Growth		 -3.21% 8.08% 0.55% 13.01% 22.33% 54.60% 25.18% 38.52% 12.41% -5.34% -6.75%
Free Cash Flow Firm Growth		 -139.69% -66.45% 4,597.32% -64.24% 277.25% 50.20% 66.88% 286.54% 238.73% 65.10% -59.08%
Invested Capital Growth		 7.07% 4.06% 3.62% 4.94% 5.07% 4.11% 2.82% 0.59% 2.61% 3.23% 5.83%
Revenue Q/Q Growth		 0.39% 0.70% 4.31% 2.53% 1.49% 1.22% 2.69% 1.24% 2.41% 1.85% 2.24%
EBITDA Q/Q Growth		 1.11% 0.64% 4.77% 5.47% 0.25% 3.83% 4.79% 2.07% 6.68% 2.14% -2.38%
EBIT Q/Q Growth		 1.09% 0.42% 5.37% 6.32% -0.17% 4.23% 5.14% 2.45% 5.41% 3.12% -2.03%
NOPAT Q/Q Growth		 -7.63% 0.41% 5.05% 10.68% -2.36% 5.64% 3.14% 9.80% -0.78% 2.80% -3.44%
Net Income Q/Q Growth		 -7.79% 0.47% 6.25% 11.23% -2.72% 6.13% 4.21% 9.10% -0.78% 3.35% -3.29%
EPS Q/Q Growth		 -7.96% 0.64% 6.37% 11.23% -2.72% 6.37% 4.17% 9.10% -0.91% 3.67% -1.77%
Operating Cash Flow Q/Q Growth		 7.66% 32.41% 30.25% -39.14% 16.54% 67.34% 5.47% -32.65% -5.43% 40.92% 2.21%
Free Cash Flow Firm Q/Q Growth		 -116.05% 322.34% 39.46% -28.15% -20.45% 88.41% 54.94% 66.44% -30.29% -8.17% -61.60%
Invested Capital Q/Q Growth		 1.86% 0.33% -0.97% 3.69% 1.99% -0.58% -2.20% 1.45% 4.04% 0.02% 0.26%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 47.01% 47.22% 47.66% 48.74% 48.02% 49.37% 49.19% 50.05% 49.84% 50.57% 49.71%
EBITDA Margin		 25.11% 25.10% 25.21% 25.93% 25.61% 26.27% 26.81% 27.03% 28.16% 28.24% 26.97%
Operating Margin		 20.46% 20.40% 20.61% 21.37% 21.02% 21.64% 22.16% 22.43% 23.09% 23.37% 22.40%
EBIT Margin		 20.46% 20.40% 20.61% 21.37% 21.02% 21.64% 22.16% 22.43% 23.09% 23.37% 22.40%
Profit (Net Income) Margin		 14.91% 14.88% 15.15% 16.44% 15.76% 16.52% 16.77% 18.07% 17.51% 17.76% 16.80%
Tax Burden Percent		 77.89% 77.88% 77.65% 80.83% 79.06% 80.12% 78.60% 84.23% 79.28% 79.04% 77.90%
Interest Burden Percent		 93.58% 93.63% 94.70% 95.18% 94.83% 95.28% 96.26% 95.66% 95.65% 96.16% 96.31%
Effective Tax Rate		 22.11% 22.12% 22.35% 19.17% 20.94% 19.88% 21.40% 15.77% 20.72% 20.96% 22.10%
Return on Invested Capital (ROIC)		 22.94% 23.10% 24.01% 25.66% 24.76% 26.48% 27.57% 29.64% 28.40% 29.34% 28.51%
ROIC Less NNEP Spread (ROIC-NNEP)		 21.98% 22.20% 23.17% 24.84% 23.93% 25.60% 26.75% 28.69% 27.50% 28.40% 27.57%
Return on Net Nonoperating Assets (RNNOA)		 14.60% 15.74% 14.79% 16.32% 15.84% 14.50% 12.91% 15.36% 15.01% 12.71% 11.19%
Return on Equity (ROE)		 37.53% 38.84% 38.80% 41.97% 40.60% 40.99% 40.47% 45.00% 43.41% 42.04% 39.70%
Cash Return on Invested Capital (CROIC)		 16.67% 19.36% 20.88% 19.38% 19.58% 21.65% 24.39% 26.99% 25.35% 25.84% 24.19%
Operating Return on Assets (OROA)		 20.84% 21.11% 21.77% 22.63% 22.42% 23.35% 24.01% 24.60% 25.24% 25.51% 24.38%
Return on Assets (ROA)		 15.19% 15.39% 16.01% 17.41% 16.81% 17.83% 18.17% 19.82% 19.14% 19.39% 18.30%
Return on Common Equity (ROCE)		 37.53% 38.84% 38.80% 41.97% 40.60% 40.99% 40.47% 45.00% 43.41% 42.04% 39.70%
Return on Equity Simple (ROE_SIMPLE)		 37.48% 35.68% 0.00% 33.88% 35.84% 35.51% 0.00% 40.75% 39.89% 38.72% 0.00%
Net Operating Profit after Tax (NOPAT)		 347 348 366 405 395 417 430 473 469 482 465
NOPAT Margin		 15.93% 15.89% 16.00% 17.27% 16.62% 17.34% 17.42% 18.89% 18.30% 18.47% 17.45%
Net Nonoperating Expense Percent (NNEP)		 0.96% 0.90% 0.85% 0.81% 0.83% 0.88% 0.81% 0.95% 0.90% 0.94% 0.94%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - 5.91% - - - 6.75% 6.82% 6.55%
Cost of Revenue to Revenue		 52.99% 52.78% 52.34% 51.26% 51.98% 50.63% 50.81% 49.95% 50.16% 49.43% 50.29%
SG&A Expenses to Revenue		 26.55% 26.81% 27.05% 27.37% 27.00% 27.72% 27.03% 27.63% 26.75% 27.19% 27.31%
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		 26.55% 26.81% 27.05% 27.37% 27.00% 27.72% 27.03% 27.63% 26.75% 27.19% 27.31%
Earnings before Interest and Taxes (EBIT)		 445 447 471 501 500 521 548 561 591 610 597
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 546 550 576 607 609 632 663 676 721 737 719
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 13.45 12.09 12.28 12.47 13.99 14.99 15.90 20.17 21.21 18.23 19.52
Price to Tangible Book Value (P/TBV)		 1,814.46 813.59 102.92 112.81 153.02 127.12 87.78 166.70 196.93 117.28 93.86
Price to Revenue (P/Rev)		 5.51 5.11 5.38 5.66 6.08 6.74 7.15 8.32 9.16 8.26 8.84
Price to Earnings (P/E)		 35.87 33.90 35.21 36.81 39.04 42.21 43.68 49.51 53.18 47.09 50.47
Dividend Yield		 0.92% 1.02% 0.99% 0.96% 0.91% 0.83% 0.80% 0.70% 0.64% 0.73% 0.69%
Earnings Yield		 2.79% 2.95% 2.84% 2.72% 2.56% 2.37% 2.29% 2.02% 1.88% 2.12% 1.98%
Enterprise Value to Invested Capital (EV/IC)		 8.09 7.68 8.29 8.54 9.21 10.42 11.46 13.36 14.37 13.20 14.34
Enterprise Value to Revenue (EV/Rev)		 5.82 5.39 5.62 5.89 6.33 6.96 7.34 8.54 9.38 8.44 9.02
Enterprise Value to EBITDA (EV/EBITDA)		 23.18 21.63 22.42 23.24 24.87 27.03 28.07 32.31 34.64 30.61 32.68
Enterprise Value to EBIT (EV/EBIT)		 28.70 26.69 27.51 28.43 30.36 32.89 34.07 39.15 41.99 37.07 39.53
Enterprise Value to NOPAT (EV/NOPAT)		 35.62 33.54 34.55 36.16 38.48 41.40 42.79 48.59 52.13 46.19 49.39
Enterprise Value to Operating Cash Flow (EV/OCF)		 31.17 29.06 31.03 32.37 34.09 33.77 33.89 37.72 41.30 38.52 43.07
Enterprise Value to Free Cash Flow (EV/FCFF)		 50.21 40.43 40.43 45.16 48.21 49.11 47.67 49.66 57.43 51.88 60.95
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.85 0.75 0.64 0.61 0.67 0.58 0.57 0.66 0.62 0.54 0.52
Long-Term Debt to Equity		 0.72 0.68 0.64 0.61 0.62 0.58 0.47 0.50 0.47 0.44 0.52
Financial Leverage		 0.66 0.71 0.64 0.66 0.66 0.57 0.48 0.54 0.55 0.45 0.41
Leverage Ratio		 2.35 2.40 2.33 2.32 2.32 2.22 2.17 2.20 2.19 2.11 2.11
Compound Leverage Factor		 2.20 2.25 2.20 2.21 2.20 2.11 2.08 2.10 2.10 2.03 2.03
Debt to Total Capital		 45.99% 42.95% 39.15% 37.79% 40.19% 36.89% 36.45% 39.65% 38.24% 35.04% 34.11%
Short-Term Debt to Total Capital		 6.86% 3.91% 0.00% 0.00% 3.14% 0.00% 6.62% 9.24% 9.08% 6.36% 0.00%
Long-Term Debt to Total Capital		 39.13% 39.04% 39.15% 37.79% 37.05% 36.89% 29.83% 30.41% 29.16% 28.68% 34.11%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 54.01% 57.05% 60.85% 62.21% 59.81% 63.11% 63.55% 60.35% 61.76% 64.96% 65.89%
Debt to EBITDA		 1.39 1.28 1.12 1.09 1.15 1.02 0.99 1.02 0.99 0.89 0.85
Net Debt to EBITDA		 1.23 1.12 0.96 0.93 0.99 0.85 0.73 0.86 0.82 0.68 0.64
Long-Term Debt to EBITDA		 1.18 1.16 1.12 1.09 1.06 1.02 0.81 0.79 0.75 0.72 0.85
Debt to NOPAT		 2.14 1.98 1.73 1.69 1.77 1.56 1.50 1.54 1.49 1.34 1.28
Net Debt to NOPAT		 1.89 1.74 1.47 1.45 1.54 1.30 1.11 1.29 1.23 1.02 0.96
Long-Term Debt to NOPAT		 1.82 1.80 1.73 1.69 1.64 1.56 1.23 1.18 1.13 1.09 1.28
Altman Z-Score		 8.42 8.41 9.11 9.62 10.02 11.11 11.53 12.75 13.86 13.13 13.83
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.86 2.10 2.39 2.56 2.24 2.38 1.74 1.53 1.58 1.72 2.09
Quick Ratio		 0.79 0.88 1.04 1.10 1.00 1.09 0.87 0.70 0.74 0.85 1.02
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -51 112 157 113 90 169 262 436 304 279 107
Operating Cash Flow to CapEx		 420.21% 546.95% 517.44% 315.80% 418.51% 613.94% 680.04% 502.29% 435.24% 759.87% 554.64%
Free Cash Flow to Firm to Interest Expense		 -1.75 3.90 6.09 4.59 3.37 6.62 10.87 17.01 11.39 11.26 4.45
Operating Cash Flow to Interest Expense		 11.10 14.75 21.48 13.73 14.77 25.74 28.79 18.22 16.55 25.12 26.42
Operating Cash Flow Less CapEx to Interest Expense		 8.46 12.05 17.33 9.38 11.24 21.55 24.55 14.59 12.75 21.81 21.66
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.02 1.03 1.06 1.06 1.07 1.08 1.08 1.10 1.09 1.09 1.09
Accounts Receivable Turnover		 7.94 8.05 8.17 7.89 7.63 7.86 8.01 7.83 7.52 7.63 7.77
Inventory Turnover		 9.15 8.99 9.49 9.68 9.68 9.87 10.71 11.05 11.52 11.65 12.05
Fixed Asset Turnover		 6.35 6.45 6.48 6.50 6.56 6.57 6.55 6.52 6.51 6.51 6.49
Accounts Payable Turnover		 16.26 17.71 16.77 15.50 15.26 16.45 15.31 13.96 13.63 14.18 12.53
Days Sales Outstanding (DSO)		 46.00 45.33 44.70 46.28 47.83 46.45 45.59 46.60 48.55 47.86 46.98
Days Inventory Outstanding (DIO)		 39.90 40.61 38.48 37.71 37.72 36.97 34.08 33.03 31.68 31.33 30.30
Days Payable Outstanding (DPO)		 22.45 20.61 21.77 23.55 23.92 22.18 23.84 26.15 26.78 25.74 29.12
Cash Conversion Cycle (CCC)		 63.44 65.33 61.40 60.44 61.63 61.23 55.82 53.47 53.45 53.45 48.15
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,018 6,038 5,979 6,200 6,323 6,286 6,148 6,237 6,488 6,489 6,506
Invested Capital Turnover		 1.44 1.45 1.50 1.49 1.49 1.53 1.58 1.57 1.55 1.59 1.63
Increase / (Decrease) in Invested Capital		 397 235 209 292 305 248 169 37 165 203 358
Enterprise Value (EV)		 48,711 46,345 49,583 52,970 58,229 65,521 70,480 83,346 93,256 85,632 93,279
Market Capitalization		 46,124 43,941 47,468 50,848 55,900 63,468 68,648 81,131 91,061 83,735 91,458
Book Value per Share		 $33.78 $35.75 $37.99 $40.08 $39.22 $41.77 $42.54 $39.91 $10.65 $11.38 $11.60
Tangible Book Value per Share		 $0.25 $0.53 $4.53 $4.43 $3.59 $4.93 $7.71 $4.83 $1.15 $1.77 $2.41
Total Capital		 6,351 6,368 6,350 6,555 6,679 6,709 6,792 6,664 6,951 7,070 7,109
Total Debt		 2,921 2,735 2,486 2,477 2,684 2,475 2,476 2,642 2,658 2,477 2,425
Total Long-Term Debt		 2,485 2,486 2,486 2,477 2,474 2,475 2,026 2,026 2,027 2,027 2,425
Net Debt		 2,587 2,405 2,115 2,122 2,329 2,052 1,831 2,215 2,195 1,897 1,822
Capital Expenditures (CapEx)		 76 78 107 107 94 107 102 93 101 82 115
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,685 1,682 1,584 1,731 1,804 1,629 1,464 1,573 1,671 1,607 1,528
Debt-free Net Working Capital (DFNWC)		 1,775 1,771 1,708 1,819 1,889 1,757 1,806 1,674 1,793 1,850 1,792
Net Working Capital (NWC)		 1,339 1,522 1,708 1,819 1,679 1,757 1,357 1,059 1,163 1,400 1,792
Net Nonoperating Expense (NNE)		 22 22 19 19 20 20 16 21 20 19 17
Net Nonoperating Obligations (NNO)		 2,587 2,405 2,115 2,122 2,329 2,052 1,831 2,215 2,195 1,897 1,822
Total Depreciation and Amortization (D&A)		 101 103 105 107 109 111 115 115 130 127 122
Debt-free, Cash-free Net Working Capital to Revenue		 20.12% 19.55% 17.97% 19.25% 19.62% 17.31% 15.26% 16.12% 16.81% 15.84% 14.77%
Debt-free Net Working Capital to Revenue		 21.19% 20.58% 19.38% 20.23% 20.55% 18.67% 18.82% 17.16% 18.04% 18.24% 17.33%
Net Working Capital to Revenue		 15.99% 17.68% 19.38% 20.23% 18.26% 18.67% 14.14% 10.85% 11.70% 13.80% 17.33%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.18 $3.19 $3.39 $0.94 $0.92 $3.90 $4.07 $1.12 $1.11 $1.14 $1.11
Adjusted Weighted Average Basic Shares Outstanding		 101.62M 101.70M 101.74M 407.42M 405.49M 101.46M 100.77M 403.30M 403.54M 403.79M 402.98M
Adjusted Diluted Earnings per Share		 $3.12 $3.14 $3.34 $0.93 $0.90 $3.84 $4.00 $1.10 $1.09 $1.13 $1.11
Adjusted Weighted Average Diluted Shares Outstanding		 101.62M 101.70M 101.74M 407.42M 405.49M 101.46M 100.77M 403.30M 403.54M 403.79M 402.98M
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 $1.11
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 101.62M 101.70M 101.74M 407.42M 405.49M 101.46M 100.77M 403.30M 403.54M 403.79M 402.98M
Normalized Net Operating Profit after Tax (NOPAT)		 347 348 366 405 395 417 430 473 469 482 465
Normalized NOPAT Margin		 15.93% 15.89% 16.00% 17.27% 16.62% 17.34% 17.42% 18.89% 18.30% 18.47% 17.45%
Pre Tax Income Margin		 19.14% 19.10% 19.52% 20.34% 19.93% 20.62% 21.33% 21.45% 22.08% 22.48% 21.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 15.39 15.50 18.27 20.39 18.79 20.40 22.74 21.90 22.18 24.63 24.83
NOPAT to Interest Expense		 11.98 12.07 14.18 16.48 14.86 16.35 17.88 18.45 17.58 19.46 19.34
EBIT Less CapEx to Interest Expense		 12.74 12.81 14.12 16.05 15.26 16.21 18.51 18.27 18.38 21.32 20.07
NOPAT Less CapEx to Interest Expense		 9.34 9.38 10.03 12.14 11.33 12.15 13.64 14.82 13.78 16.16 14.58
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 32.05% 33.22% 33.38% 34.01% 34.28% 33.98% 33.78% 33.66% 33.32% 33.25% 33.75%
Augmented Payout Ratio		 126.14% 85.29% 62.97% 45.00% 67.33% 66.97% 78.32% 109.44% 87.54% 84.42% 85.33%

Key Financial Trends

Analyzing Cintas Corporation's (NASDAQ: CTAS) financial statements over the last four years reveals steady revenue growth and strong operating profitability, supported by consistent cash flow from operations. Here are some key takeaways and trends observed from the quarterly financial data:

  • Revenue Growth: Operating revenue increased from approximately $1.96 billion in Q3 2022 to around $2.67 billion in Q4 2025, reflecting consistent top-line growth over this period.
  • Robust Gross Profit: Gross profit grew in line with revenues, reaching about $1.33 billion in Q4 2025, indicating effective control over cost of revenue despite expanding operations.
  • Stable Operating Expenses: Selling, General & Administrative (SG&A) expenses rose moderately in absolute terms but remained well-managed relative to revenue growth, supporting operating income of roughly $597 million in Q4 2025.
  • Consistent Net Income Growth: Net income attributable to common shareholders increased steadily, exceeding $448 million in Q4 2025 compared to $315 million in Q3 2022, demonstrating profitable operations.
  • Strong Operating Cash Flow: Net cash provided by operating activities consistently outpaced net income, reaching $636 million in Q4 2025, which bodes well for internal funding capability and financial health.
  • Continued Capital Investment: Cintas sustains capital expenditures around $70 million to $115 million quarterly, underpinning asset growth and operational capacity expansion.
  • Prudent Debt Management: The company regularly repays debt (e.g., $452 million repayment in Q4 2025) while maintaining long-term debt balances near $2 billion, indicating disciplined leverage management.
  • Shareholder Returns: Cintas pays steady quarterly dividends, $0.39 per share most recently, reflecting a commitment to returning capital to shareholders.
  • Share Repurchases: Active repurchase programs totaled hundreds of millions over quarters, which can support share price but also reduce cash reserves.
  • Exchange Rate Effects: Minor quarterly impacts from currency exchange rate changes highlight some exposure to global economic factors.

In summary, Cintas displays strong financial performance with growing revenues, controlled expenses, solid profitability, and healthy cash flows. The company's strategic capital investments and disciplined debt repayments support sustainable long-term growth. Investors may view the consistent dividend payments and share repurchases favorably, although monitoring debt levels and capital allocation remains important.

08/11/25 04:04 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Cintas' Financials

When does Cintas' financial year end?

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

How has Cintas' net income changed over the last 10 years?

Cintas' net income appears to be on an upward trend, with a most recent value of $1.81 billion in 2025, rising from $430.62 million in 2015. The previous period was $1.57 billion in 2024. Find out what analysts predict for Cintas in the coming months.

What is Cintas' operating income?
Cintas' total operating income in 2025 was $2.36 billion, based on the following breakdown:
  • Total Gross Profit: $5.17 billion
  • Total Operating Expenses: $2.81 billion
How has Cintas' revenue changed over the last 10 years?

Over the last 10 years, Cintas' total revenue changed from $4.37 billion in 2015 to $10.34 billion in 2025, a change of 136.6%.

How much debt does Cintas have?

Cintas' total liabilities were at $5.14 billion at the end of 2025, a 5.9% increase from 2024, and a 127.5% increase since 2015.

How much cash does Cintas have?

In the past 10 years, Cintas' cash and equivalents has ranged from $90.47 million in 2022 to $493.64 million in 2021, and is currently $263.97 million as of their latest financial filing in 2025.

How has Cintas' book value per share changed over the last 10 years?

Over the last 10 years, Cintas' book value per share changed from 16.89 in 2015 to 11.60 in 2025, a change of -31.3%.


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This page (NASDAQ:CTAS) was last updated on 8/11/2025 by MarketBeat.com Staff
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