Cintas
CTAS · NasdaqMen's & Boys' Furnishgs, Work Clothg, & Allied Garments · Fiscal year ends May 31
Cintas reported revenue of $11.3B in the fiscal year ended May 2026, up 8.9% from the year before. Operating income was $2.6B, an operating margin of 23.1%, and net income was $2B. Operating cash flow of $2.3B less capital expenditure of $395M left free cash flow of $1.9B. Net debt was $2.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | May 2022 | May 2023 | May 2024 | May 2025 | May 2026 |
|---|---|---|---|---|---|
| Revenue | $7.9B | $8.8B | $9.6B | $10.3B | $11.3B |
| Cost of revenue | – | $4.6B | $4.9B | $5.2B | $5.6B |
| Gross profit | $3.6B | $4.2B | $4.7B | $5.2B | $5.7B |
| Selling, general & admin | $2B | $2.4B | $2.6B | $2.8B | $3.1B |
| Operating income | $1.6B | $1.8B | $2.1B | $2.4B | $2.6B |
| Net interest incomeBanks | −$89M | −$110M | – | – | – |
| Interest expense | $89M | $111M | $101M | $101M | $106M |
| Pre-tax income | $1.5B | $1.7B | $2B | $2.3B | $2.5B |
| Income tax | $263M | $345M | $402M | $452M | $505M |
| Net income | $1.2B | $1.3B | $1.6B | $1.8B | $2B |
| Diluted EPS | 11.65 | 3.25 | 3.79 | 4.40 | 4.91 |
| Diluted shares | 106M | 414M | 413M | 410M | 406M |
Balance sheet
| Fiscal year | May 2022 | May 2023 | May 2024 | May 2025 | May 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $90M | $124M | $342M | $264M | $289M |
| Receivables | $1B | $1.2B | $1.2B | $1.4B | $1.6B |
| Inventory | $472M | $507M | $410M | $447M | $446M |
| Current assets | $2.6B | $2.9B | $3.2B | $3.4B | $3.9B |
| Net PP&E | $1.3B | $1.4B | $1.5B | $1.7B | $1.7B |
| Goodwill | $3B | $3.1B | $3.2B | $3.4B | $3.5B |
| Total assets | $8.1B | $8.5B | $9.2B | $9.8B | $10.5B |
| Payables | $252M | $302M | $339M | $485M | $461M |
| Current liabilities | $1.4B | $1.2B | $1.8B | $1.6B | $2.7B |
| Short-term debt | $312M | $0 | $450M | $0 | $999M |
| Long-term debt | $2.5B | $2.5B | $2B | $2.4B | $1.4B |
| Shareholders' equity | $3.3B | $3.9B | $4.3B | $4.7B | $5.1B |
Cash flow
| Fiscal year | May 2022 | May 2023 | May 2024 | May 2025 | May 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $1.5B | $1.6B | $2.1B | $2.2B | $2.3B |
| Capital expenditure | $241M | $331M | $409M | $409M | $395M |
| Free cash flow | $1.3B | $1.3B | $1.7B | $1.8B | $1.9B |
| Depreciation & amortisation | $400M | $409M | $442M | $494M | $513M |
| Stock-based compensation | $109M | $104M | $117M | $128M | $128M |
| Acquisitions | $164M | $46M | $187M | $233M | $165M |
| Share buybacks | $1.5B | $399M | $700M | $935M | $952M |
| Dividends paid | $375M | $450M | $531M | $612M | $701M |
| Dividend per share | 3.80 | 1.15 | 1.35 | 1.56 | 1.80 |
Key ratios
| Fiscal year | May 2022 | May 2023 | May 2024 | May 2025 | May 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.2% | 8.9% | 7.7% | 8.9% |
| Operating income growth (YoY) | – | 13.6% | 14.8% | 14.1% | 10.5% |
| EPS growth (YoY) | – | −72.1% | 16.6% | 16.1% | 11.6% |
| Gross margin | 46.2% | 47.3% | 48.8% | 50.0% | 50.7% |
| Operating margin | 20.2% | 20.4% | 21.6% | 22.8% | 23.1% |
| Net margin | 15.7% | 15.3% | 16.4% | 17.5% | 17.8% |
| Return on equityBlank when equity is negative | 37.4% | 34.9% | 36.4% | 38.7% | 38.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 23.6% | 24.6% | 28.2% | 28.8% | 33.2% |
| Free cash flow margin | 16.5% | 14.2% | 17.3% | 17.0% | 16.7% |
| Cash conversion (CFO ÷ net income) | 1.24x | 1.18x | 1.32x | 1.20x | 1.14x |
| Receivable days | 47 | 48 | 47 | 50 | 50 |
| Inventory days | 41 | 40 | 30 | 32 | 29 |
| Payable days | 22 | 24 | 25 | 34 | 30 |
| Interest cover | 17.9x | 16.2x | 20.5x | 23.3x | 24.5x |
| Debt ÷ equity | 0.85x | 0.64x | 0.57x | 0.52x | 0.47x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $2.7B | $2.4B | $2.1B | $2.2B | $2.1B |
| Current ratio | 1.84x | 2.39x | 1.74x | 2.09x | 1.43x |
Recent filings
More in Men'S & Boys' Furnishgs, Work Clothg, & Allied Garments
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.