Cintas (CTAS) Financials

$209.62 +3.58 (+1.74%)

As of 04/14/2025 04:00 PM Eastern

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
Net Income / (Loss) Attributable to Common Shareholders	431	694	481	843	885	876	1,111	1,236	1,348	1,572
Consolidated Net Income / (Loss)	431	694	481	843	885	876	1,111	1,236	1,348	1,572
Net Income / (Loss) Continuing Operations	403	449	457	784	883	876	1,111	1,236	1,348	1,572
Total Pre-Tax Income	641	705	687	841	1,102	1,058	1,288	1,499	1,693	1,974
Total Operating Income	684	769	774	950	1,134	1,163	1,385	1,587	1,803	2,069
Total Gross Profit	1,893	2,101	2,380	2,909	3,129	3,234	3,315	3,632	4,173	4,686
Total Revenue	4,370	4,796	5,323	6,477	6,892	7,085	7,116	7,854	8,816	9,597
Operating Revenue	4,370	4,796	5,323	6,477	6,892	7,085	7,116	7,854	8,816	9,597
Total Cost of Revenue	2,477	2,694	2,943	3,568	3,764	3,851	3,802	4,222	4,642	4,910
Operating Cost of Revenue	2,477	2,694	2,943	3,568	3,764	3,851	3,802	4,222	4,642	4,910
Total Operating Expenses	1,209	1,332	1,607	1,959	1,995	2,071	1,929	2,045	2,371	2,618
Selling, General & Admin Expense	1,209	1,332	1,527	1,917	1,981	2,071	1,929	2,045	2,371	2,618
Total Other Income / (Expense), net	-43	-64	-86	-109	-31	-104	-98	-89	-110	-95
Interest Expense	65	65	87	110	102	105	98	89	111	101
Interest & Investment Income	22	0.90	0.24	1.34	71	0.99	0.47	0.24	1.72	5.74
Income Tax Expense	238	257	230	57	220	182	177	263	345	402
Basic Earnings per Share	$3.68	$6.30	$4.49	$7.78	$8.25	$8.36	$10.52	$11.92	$13.21	$15.40
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
Diluted Earnings per Share	$3.63	$6.21	$4.38	$7.56	$7.99	$8.11	$10.24	$11.65	$12.99	$15.15
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
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
Cash Dividends to Common per Share	$1.70	$1.05	$1.33	$1.62	$2.05	$2.55	$5.01	$3.80	$4.60	$5.40

This table shows Cintas' income and expenses over time, based on quarterly financial 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
Net Income / (Loss) Attributable to Common Shareholders	352	324	326	346	385	375	398	414	452	448	463
Consolidated Net Income / (Loss)	352	324	326	346	385	375	398	414	452	448	463
Net Income / (Loss) Continuing Operations	352	324	326	346	385	375	398	414	452	448	463
Total Pre-Tax Income	413	416	418	446	476	474	496	527	537	566	586
Total Operating Income	440	445	447	471	501	500	521	548	561	591	610
Total Gross Profit	1,028	1,022	1,034	1,089	1,142	1,142	1,188	1,215	1,252	1,277	1,319
Total Revenue	2,166	2,175	2,190	2,284	2,342	2,377	2,406	2,471	2,502	2,562	2,609
Operating Revenue	2,166	2,175	2,190	2,284	2,342	2,377	2,406	2,471	2,502	2,562	2,609
Total Cost of Revenue	1,138	1,152	1,156	1,196	1,201	1,236	1,218	1,255	1,249	1,285	1,290
Operating Cost of Revenue	1,138	1,152	1,156	1,196	1,201	1,236	1,218	1,255	1,249	1,285	1,290
Total Operating Expenses	588	578	587	618	641	642	667	668	691	685	709
Selling, General & Admin Expense	588	578	587	618	641	642	667	668	691	685	709
Total Other Income / (Expense), net	-28	-29	-28	-25	-24	-26	-25	-20	-24	-26	-23
Interest Expense	28	29	29	26	25	27	26	24	26	27	25
Interest & Investment Income	0.16	0.34	0.37	0.84	0.42	0.77	0.93	3.62	1.25	0.96	1.35
Income Tax Expense	61	92	93	100	91	99	99	113	85	117	123
Basic Earnings per Share	$3.45	$3.18	$3.19	$3.39	$0.94	$0.92	$3.90	$4.07	$1.12	$1.11	$1.14
Weighted Average Basic Shares Outstanding	101.55M	101.62M	101.70M	101.74M	101.85M	101.37M	101.46M	100.77M	403.30M	403.54M	403.79M
Diluted Earnings per Share	$3.39	$3.12	$3.14	$3.34	$0.93	$0.90	$3.84	$4.00	$1.10	$1.09	$1.13
Weighted Average Diluted Shares Outstanding	101.55M	101.62M	101.70M	101.74M	101.85M	101.37M	101.46M	100.77M	403.30M	403.54M	403.79M
Weighted Average Basic & Diluted Shares Outstanding	101.55M	101.62M	101.70M	101.74M	101.85M	101.37M	101.46M	100.77M	403.30M	403.54M	403.79M
Cash Dividends to Common per Share	$1.15	$1.15	$1.15	$1.15	$0.34	$0.34	$1.35	$1.35	$0.39	$0.39	$0.39

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
Net Change in Cash & Equivalents	-227	-524	30	-31	-42	49	348	-403	34	218
Net Cash From Operating Activities	598	836	764	964	1,068	1,291	1,361	1,538	1,598	2,080
Net Cash From Continuing Operating Activities	580	466	764	964	1,071	1,291	1,361	1,538	1,598	2,080
Net Income / (Loss) Continuing Operations	431	694	481	843	885	876	1,111	1,236	1,348	1,572
Consolidated Net Income / (Loss)	431	694	481	843	885	876	1,111	1,236	1,348	1,572
Depreciation Expense	141	150	172	215	224	236	244	249	257	281
Amortization Expense	14	16	25	64	136	143	144	150	152	162
Non-Cash Adjustments To Reconcile Net Income	8.43	79	117	16	70	125	95	67	104	117
Changes in Operating Assets and Liabilities, net	4.04	-102	-30	-174	-244	-88	-233	-165	-263	-51
Net Cash From Investing Activities	-104	-488	-2,310	-136	-236	-285	-137	-403	-389	-609
Net Cash From Continuing Investing Activities	45	128	-2,310	-136	-236	-285	-137	-403	-389	-609
Purchase of Property, Plant & Equipment	-218	-275	-273	-272	-277	-230	-143	-241	-331	-409
Acquisitions	-15	-157	-2,102	-19	-9.81	-54	-10	-164	-46	-187
Purchase of Investments	-195	-494	-181	-154	-18	-10	-4.30	-6.08	-4.57	-7.55
Sale of Property, Plant & Equipment	-	-	-	0.00	3.20	13	32	15	0.00	0.00
Other Investing Activities, net	1.38	4.14	-0.20	1.36	-7.81	-4.66	-11	-7.01	-6.64	-4.78
Net Cash From Financing Activities	-713	-867	1,579	-864	-873	-955	-880	-1,538	-1,173	-1,253
Net Cash From Continuing Financing Activities	-713	-867	1,579	-864	-873	-955	-880	-1,538	-1,173	-1,253
Repayment of Debt	1.07	0.47	-273	-603	-14	-201	-4.38	-1,206	-66	-24
Repurchase of Common Equity	-552	-780	-21	-127	-1,016	-465	-554	-1,526	-399	-700
Payment of Dividends	-202	-115	-142	-176	-221	-268	-451	-375	-450	-531
Issuance of Debt	0.00	0.00	1,983	0.00	313	-113	0.00	1,452	-261	0.00
Issuance of Common Equity	40	28	32	42	65	91	130	118	3.02	1.37
Effect of Exchange Rate Changes	-8.92	-5.22	-2.13	5.14	-1.00	-2.12	4.58	-0.22	-2.63	0.21

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	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Change in Cash & Equivalents	-16	15	-1.24	36	-36	-2.57	43	214	-241	21	121
Net Cash From Operating Activities	298	321	425	554	337	393	657	693	467	441	622
Net Cash From Continuing Operating Activities	298	321	425	554	337	393	657	693	467	441	622
Net Income / (Loss) Continuing Operations	352	324	326	346	385	375	398	414	452	448	463
Consolidated Net Income / (Loss)	352	324	326	346	385	375	398	414	452	448	463
Depreciation Expense	63	64	64	66	68	69	71	73	74	76	76
Amortization Expense	37	38	39	39	39	40	41	42	41	55	51
Non-Cash Adjustments To Reconcile Net Income	26	25	24	28	30	23	31	32	33	28	17
Changes in Operating Assets and Liabilities, net	-180	-130	-27	74	-185	-114	117	131	-134	-165	15
Net Cash From Investing Activities	-87	-85	-97	-120	-170	-112	-221	-105	-114	-235	-125
Net Cash From Continuing Investing Activities	-87	-85	-97	-120	-170	-112	-221	-105	-114	-235	-125
Purchase of Property, Plant & Equipment	-70	-76	-78	-107	-107	-94	-107	-102	-93	-101	-100
Acquisitions	-7.06	-8.40	-18	-13	-56	-18	-111	-1.81	-9.44	-145	-44
Purchase of Investments	-5.93	0.75	0.56	0.05	-6.53	-0.95	-0.12	0.05	-7.12	0.03	0.03
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	-	-	-	18
Other Investing Activities, net	-3.59	-0.79	-2.51	0.25	-0.96	0.77	-2.90	-1.68	-4.85	6.25	0.39
Net Cash From Financing Activities	-226	-220	-328	-398	-202	-283	-394	-374	-593	-184	-374
Net Cash From Continuing Financing Activities	-226	-220	-328	-398	-202	-283	-394	-374	-593	-184	-374
Repayment of Debt	-5.26	-3.58	-3.16	-54	-12	-5.76	-1.52	-4.63	-5.98	-5.45	-8.01
Repurchase of Common Equity	-320	-28	-22	-28	-73	-350	-45	-232	-615	-37	-27
Payment of Dividends	-98	-117	-117	-117	-118	-138	-137	-138	-138	-157	-158
Issuance of Common Equity	1.05	1.08	0.82	0.08	0.48	0.45	0.35	0.10	0.23	0.34	0.12
Effect of Exchange Rate Changes	-1.28	-0.75	-0.87	0.27	-0.76	0.54	0.56	-0.14	-0.25	-1.56	-1.98

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
Total Assets	4,192	4,099	6,844	6,958	7,437	7,670	8,237	8,147	8,546	9,169
Total Current Assets	1,736	1,591	1,954	1,978	2,236	2,310	2,843	2,632	2,938	3,185
Cash & Equivalents	417	139	169	139	97	145	494	90	124	342
Accounts Receivable	496	546	736	805	910	870	902	1,006	1,153	1,244
Inventories, net	226	249	278	280	335	409	482	472	507	410
Prepaid Expenses	24	26	30	32	103	115	134	125	143	149
Current Deferred & Refundable Income Taxes	0.94	1.71	44	20	7.48	0.00	22	22	-	0.00
Other Current Assets	534	538	636	702	784	770	810	917	1,012	1,040
Plant, Property, & Equipment, net	871	994	1,324	1,383	1,431	1,403	1,318	1,324	1,396	1,534
Total Noncurrent Assets	1,585	1,515	3,566	3,598	3,770	3,957	4,075	4,192	4,211	4,449
Long-Term Investments	330	125	165	176	192	-	275	243	247	302
Goodwill	1,196	1,276	2,782	2,847	2,842	2,870	2,913	3,043	3,056	3,212
Intangible Assets	42	78	587	546	495	-	408	392	347	322
Other Noncurrent Operating Assets	17	14	32	29	240	1,087	479	514	561	613
Total Liabilities & Shareholders' Equity	4,192	4,099	6,844	6,958	7,437	7,670	8,237	8,147	8,546	9,169
Total Liabilities	2,260	2,256	4,541	3,942	4,434	4,435	4,549	4,839	4,682	4,852
Total Current Liabilities	509	816	1,131	776	1,128	885	1,934	1,433	1,230	1,829
Short-Term Debt	0.00	250	363	0.00	312	0.00	899	312	0.00	450
Accounts Payable	110	111	177	215	226	231	231	252	302	339
Accrued Expenses	310	343	430	420	434	457	519	589	633	761
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	0.00	27	-	0.00	12	19
Current Employee Benefit Liabilities	88	101	150	141	156	127	241	237	239	214
Other Current Liabilities	-	-	-	-	0.00	43	44	44	44	46
Total Noncurrent Liabilities	1,751	1,441	3,410	3,166	3,306	3,549	2,615	3,406	3,452	3,024
Long-Term Debt	1,300	1,044	2,771	2,535	2,538	2,540	1,643	2,484	2,486	2,026
Noncurrent Deferred & Payable Income Tax Liabilities	339	259	469	353	438	389	387	474	498	476
Other Noncurrent Operating Liabilities	112	137	170	278	331	621	585	448	468	522
Total Equity & Noncontrolling Interests	1,932	1,843	2,303	3,017	3,003	3,235	3,688	3,308	3,864	4,316
Total Preferred & Common Equity	1,932	1,843	2,303	3,017	3,003	3,235	3,688	3,308	3,864	4,316
Preferred Stock	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
Common Stock	486	615	709	864	1,068	1,274	1,516	1,772	2,032	2,305
Retained Earnings	4,228	4,806	5,171	5,838	6,691	7,297	7,877	8,719	9,597	10,618
Accumulated Other Comprehensive Income / (Loss)	-8.47	-25	-3.03	16	-39	-153	31	108	78	91
Other Equity Adjustments	-	-	-	-	-	-	-	-	-	-8,698

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
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

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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.19%	9.75%	11.00%	21.66%	6.42%	2.80%	0.44%	10.37%	12.24%	8.86%
EBITDA Growth	5.69%	11.39%	3.86%	26.69%	21.51%	3.22%	15.03%	12.05%	11.31%	13.53%
EBIT Growth	13.43%	12.48%	0.62%	22.77%	19.34%	2.57%	19.16%	14.57%	13.56%	14.75%
NOPAT Growth	13.35%	13.84%	5.24%	72.02%	2.51%	6.09%	24.15%	9.50%	9.66%	14.77%
Net Income Growth	15.00%	61.05%	-30.69%	75.28%	5.03%	-1.01%	26.82%	11.23%	9.08%	16.59%
EPS Growth	19.02%	71.07%	-29.47%	72.60%	5.69%	1.50%	26.26%	13.77%	11.50%	16.63%
Operating Cash Flow Growth	-1.29%	39.71%	-8.59%	26.22%	10.76%	20.94%	5.36%	13.00%	3.91%	30.16%
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%
Invested Capital Growth	-2.90%	13.20%	82.27%	3.65%	6.22%	1.19%	-2.98%	5.66%	3.62%	2.82%
Revenue Q/Q Growth	4.21%	2.71%	7.44%	2.20%	1.83%	-2.40%	3.13%	3.14%	2.44%	1.98%
EBITDA Q/Q Growth	-0.34%	3.17%	0.98%	8.65%	4.78%	-6.33%	9.28%	2.70%	3.22%	3.57%
EBIT Q/Q Growth	0.54%	3.39%	-1.63%	10.24%	4.51%	-8.43%	12.05%	3.12%	3.82%	3.86%
NOPAT Q/Q Growth	0.20%	3.52%	-1.46%	11.14%	4.33%	-7.74%	11.31%	1.92%	3.86%	4.09%
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%
EPS Q/Q Growth	-3.46%	5.43%	-9.50%	13.51%	5.41%	-8.05%	12.16%	3.01%	4.25%	4.55%
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%
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%
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%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.32%	43.82%	44.71%	44.91%	45.39%	45.64%	46.58%	46.24%	47.34%	48.83%
EBITDA Margin	19.19%	19.48%	18.23%	18.98%	21.67%	21.76%	24.92%	25.30%	25.09%	26.17%
Operating Margin	15.65%	16.03%	14.53%	14.67%	16.45%	16.41%	19.47%	20.21%	20.45%	21.56%
EBIT Margin	15.65%	16.03%	14.53%	14.67%	16.45%	16.41%	19.47%	20.21%	20.45%	21.56%
Profit (Net Income) Margin	9.85%	14.46%	9.03%	13.01%	12.84%	12.36%	15.61%	15.73%	15.29%	16.38%
Tax Burden Percent	67.23%	98.33%	69.93%	100.19%	80.28%	82.78%	86.27%	82.45%	79.62%	79.63%
Interest Burden Percent	93.70%	91.73%	88.85%	88.54%	97.25%	91.02%	92.95%	94.42%	93.92%	95.41%
Effective Tax Rate	37.16%	36.40%	33.48%	6.79%	19.94%	17.19%	13.73%	17.55%	20.38%	20.37%
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%
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%
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%
Return on Equity (ROE)	20.88%	36.74%	23.19%	31.68%	29.41%	28.09%	32.09%	35.33%	37.59%	38.42%
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%
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%
Return on Assets (ROA)	9.95%	16.73%	8.79%	12.21%	12.30%	11.60%	13.97%	15.08%	16.15%	17.74%
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%
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%
Net Operating Profit after Tax (NOPAT)	430	489	515	885	908	963	1,195	1,309	1,435	1,647
NOPAT Margin	9.83%	10.20%	9.67%	13.67%	13.17%	13.59%	16.80%	16.66%	16.28%	17.16%
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%
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%
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%
R&D to Revenue	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%
Earnings before Interest and Taxes (EBIT)	684	769	774	950	1,134	1,163	1,385	1,587	1,803	2,069
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
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
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
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
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
Dividend Yield	1.09%	1.21%	1.14%	0.95%	0.98%	1.08%	1.26%	0.98%	0.99%	0.80%
Earnings Yield	4.84%	7.49%	3.92%	4.63%	4.03%	3.56%	3.09%	3.10%	2.84%	2.29%
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
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
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
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
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
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
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
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
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
Financial Leverage	0.21	0.38	0.89	0.93	0.79	0.79	0.60	0.61	0.64	0.48
Leverage Ratio	2.10	2.20	2.64	2.59	2.39	2.42	2.30	2.34	2.33	2.17
Compound Leverage Factor	1.97	2.01	2.35	2.30	2.33	2.20	2.14	2.21	2.19	2.07
Debt to Total Capital	40.22%	41.26%	57.64%	45.67%	48.69%	43.98%	40.80%	45.80%	39.15%	36.45%
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%
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%
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%
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%
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%
Debt to EBITDA	1.55	1.39	3.23	2.06	1.91	1.65	1.43	1.41	1.12	0.99
Net Debt to EBITDA	0.64	1.03	2.86	1.81	1.71	1.55	1.00	1.24	0.96	0.73
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
Debt to NOPAT	3.03	2.65	6.09	2.86	3.14	2.64	2.13	2.14	1.73	1.50
Net Debt to NOPAT	1.25	1.96	5.40	2.51	2.82	2.49	1.48	1.88	1.47	1.11
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
Altman Z-Score	5.70	6.12	3.97	5.53	5.84	6.31	7.64	8.23	9.62	12.08
Noncontrolling Interest Sharing Ratio	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
Quick Ratio	1.83	0.93	0.82	1.22	0.89	1.15	0.72	0.77	1.04	0.87
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	503	166	-1,766	701	582	897	1,363	1,000	1,227	1,479
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%
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
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
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
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	1.16	0.97	0.94	0.96	0.94	0.89	0.96	1.06	1.08
Accounts Receivable Turnover	8.70	9.20	8.30	8.41	8.04	7.96	8.03	8.23	8.17	8.01
Inventory Turnover	10.37	11.33	11.16	12.78	12.24	10.36	8.54	8.85	9.49	10.71
Fixed Asset Turnover	5.06	5.14	4.59	4.79	4.90	5.00	5.23	5.95	6.48	6.55
Accounts Payable Turnover	19.08	24.43	20.44	18.20	17.07	16.85	16.47	17.51	16.77	15.31
Days Sales Outstanding (DSO)	41.96	39.68	43.97	43.41	45.40	45.86	45.45	44.33	44.70	45.59
Days Inventory Outstanding (DIO)	35.18	32.21	32.72	28.57	29.82	35.23	42.76	41.23	38.48	34.08
Days Payable Outstanding (DPO)	19.13	14.94	17.86	20.06	21.39	21.66	22.17	20.85	21.77	23.84
Cash Conversion Cycle (CCC)	58.00	56.95	58.82	51.92	53.83	59.44	66.04	64.72	61.40	55.82
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
Invested Capital Turnover	1.76	1.84	1.36	1.26	1.28	1.27	1.28	1.40	1.50	1.58
Increase / (Decrease) in Invested Capital	-73	323	2,281	185	326	66	-168	309	209	169
Enterprise Value (EV)	9,426	10,221	15,037	20,404	24,495	27,027	37,761	42,343	49,583	70,480
Market Capitalization	8,889	9,261	12,260	18,183	21,934	24,633	35,987	39,881	47,468	68,648
Book Value per Share	$16.89	$17.22	$21.86	$28.27	$28.71	$31.09	$35.10	$32.33	$37.99	$42.54
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
Total Capital	3,232	3,137	5,436	5,552	5,852	5,775	6,230	6,104	6,350	6,792
Total Debt	1,300	1,294	3,134	2,535	2,850	2,540	2,542	2,796	2,486	2,476
Total Long-Term Debt	1,300	1,044	2,771	2,535	2,538	2,540	1,643	2,484	2,486	2,026
Net Debt	537	960	2,777	2,221	2,561	2,394	1,774	2,462	2,115	1,831
Capital Expenditures (CapEx)	218	275	273	272	274	217	112	225	331	409
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
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
Net Working Capital (NWC)	1,227	775	824	1,202	1,109	1,425	909	1,199	1,708	1,357
Net Nonoperating Expense (NNE)	-0.99	-204	34	43	23	87	84	73	87	76
Net Nonoperating Obligations (NNO)	517	930	2,750	2,221	2,561	2,394	1,774	2,462	2,115	1,831
Total Depreciation and Amortization (D&A)	155	165	197	279	360	379	388	400	409	442
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%
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%
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%
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
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
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
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
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
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
Normalized Net Operating Profit after Tax (NOPAT)	430	489	567	924	919	963	1,195	1,309	1,435	1,647
Normalized NOPAT Margin	9.83%	10.20%	10.66%	14.27%	13.34%	13.59%	16.80%	16.66%	16.28%	17.16%
Pre Tax Income Margin	14.66%	14.71%	12.91%	12.99%	15.99%	14.94%	18.10%	19.08%	19.21%	20.57%
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
NOPAT to Interest Expense	6.59	7.58	5.95	8.04	8.92	9.14	12.17	14.73	12.90	16.35
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
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
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%
Augmented Payout Ratio	175.06%	129.11%	33.94%	35.95%	139.78%	83.61%	90.50%	153.83%	62.97%	78.32%

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.21%	13.14%	11.70%	10.11%	8.12%	9.30%	9.87%	8.16%	6.80%	7.77%	8.44%
EBITDA Growth	9.78%	13.80%	8.14%	13.63%	12.44%	11.49%	15.02%	15.05%	11.34%	18.48%	16.56%
EBIT Growth	11.68%	16.71%	9.62%	16.41%	13.73%	12.31%	16.56%	16.31%	12.08%	18.35%	17.10%
NOPAT Growth	7.02%	10.87%	4.37%	17.09%	7.83%	13.99%	19.92%	17.74%	16.80%	18.69%	15.51%
Net Income Growth	6.19%	10.05%	3.29%	17.57%	9.50%	15.52%	22.02%	19.67%	17.39%	19.72%	16.58%
EPS Growth	9.00%	13.04%	5.72%	18.86%	9.50%	15.52%	22.29%	19.76%	17.39%	21.11%	17.71%
Operating Cash Flow Growth	13.74%	-3.21%	8.08%	0.55%	13.01%	22.33%	54.60%	25.18%	38.52%	12.41%	-5.34%
Free Cash Flow Firm Growth	39.33%	-139.69%	-66.45%	4,597.32%	-64.24%	277.25%	50.20%	66.88%	286.54%	238.73%	65.10%
Invested Capital Growth	1.03%	7.07%	4.06%	3.62%	4.94%	5.07%	4.11%	2.82%	0.59%	2.61%	3.23%
Revenue Q/Q Growth	4.42%	0.39%	0.70%	4.31%	2.53%	1.49%	1.22%	2.69%	1.24%	2.41%	1.85%
EBITDA Q/Q Growth	6.58%	1.11%	0.64%	4.77%	5.47%	0.25%	3.83%	4.79%	2.07%	6.68%	2.14%
EBIT Q/Q Growth	8.82%	1.09%	0.42%	5.37%	6.32%	-0.17%	4.23%	5.14%	2.45%	5.41%	3.12%
NOPAT Q/Q Growth	20.17%	-7.63%	0.41%	5.05%	10.68%	-2.36%	5.64%	3.14%	9.80%	-0.78%	2.80%
Net Income Q/Q Growth	19.43%	-7.79%	0.47%	6.25%	11.23%	-2.72%	6.13%	4.21%	9.10%	-0.78%	3.35%
EPS Q/Q Growth	20.64%	-7.96%	0.64%	6.37%	11.23%	-2.72%	6.37%	4.17%	9.10%	-0.91%	3.67%
Operating Cash Flow Q/Q Growth	-45.85%	7.66%	32.41%	30.25%	-39.14%	16.54%	67.34%	5.47%	-32.65%	-5.43%	40.92%
Free Cash Flow Firm Q/Q Growth	9,339.54%	-116.05%	322.34%	39.46%	-28.15%	-20.45%	88.41%	54.94%	66.44%	-30.29%	-8.17%
Invested Capital Q/Q Growth	2.38%	1.86%	0.33%	-0.97%	3.69%	1.99%	-0.58%	-2.20%	1.45%	4.04%	0.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	47.46%	47.01%	47.22%	47.66%	48.74%	48.02%	49.37%	49.19%	50.05%	49.84%	50.57%
EBITDA Margin	24.93%	25.11%	25.10%	25.21%	25.93%	25.61%	26.27%	26.81%	27.03%	28.16%	28.24%
Operating Margin	20.32%	20.46%	20.40%	20.61%	21.37%	21.02%	21.64%	22.16%	22.43%	23.09%	23.37%
EBIT Margin	20.32%	20.46%	20.40%	20.61%	21.37%	21.02%	21.64%	22.16%	22.43%	23.09%	23.37%
Profit (Net Income) Margin	16.23%	14.91%	14.88%	15.15%	16.44%	15.76%	16.52%	16.77%	18.07%	17.51%	17.76%
Tax Burden Percent	85.25%	77.89%	77.88%	77.65%	80.83%	79.06%	80.12%	78.60%	84.23%	79.28%	79.04%
Interest Burden Percent	93.74%	93.58%	93.63%	94.70%	95.18%	94.83%	95.28%	96.26%	95.66%	95.65%	96.16%
Effective Tax Rate	14.75%	22.11%	22.12%	22.35%	19.17%	20.94%	19.88%	21.40%	15.77%	20.72%	20.96%
Return on Invested Capital (ROIC)	23.94%	22.94%	23.10%	24.01%	25.66%	24.76%	26.48%	27.57%	29.64%	28.40%	29.34%
ROIC Less NNEP Spread (ROIC-NNEP)	23.04%	21.98%	22.20%	23.17%	24.84%	23.93%	25.60%	26.75%	28.69%	27.50%	28.40%
Return on Net Nonoperating Assets (RNNOA)	18.38%	14.60%	15.74%	14.79%	16.32%	15.84%	14.50%	12.91%	15.36%	15.01%	12.71%
Return on Equity (ROE)	42.31%	37.53%	38.84%	38.80%	41.97%	40.60%	40.99%	40.47%	45.00%	43.41%	42.04%
Cash Return on Invested Capital (CROIC)	21.66%	16.67%	19.36%	20.88%	19.38%	19.58%	21.65%	24.39%	26.99%	25.35%	25.84%
Operating Return on Assets (OROA)	20.48%	20.84%	21.11%	21.77%	22.63%	22.42%	23.35%	24.01%	24.60%	25.24%	25.51%
Return on Assets (ROA)	16.36%	15.19%	15.39%	16.01%	17.41%	16.81%	17.83%	18.17%	19.82%	19.14%	19.39%
Return on Common Equity (ROCE)	42.31%	37.53%	38.84%	38.80%	41.97%	40.60%	40.99%	40.47%	45.00%	43.41%	42.04%
Return on Equity Simple (ROE_SIMPLE)	38.90%	37.48%	35.68%	0.00%	33.88%	35.84%	35.51%	0.00%	40.75%	39.89%	38.72%
Net Operating Profit after Tax (NOPAT)	375	347	348	366	405	395	417	430	473	469	482
NOPAT Margin	17.32%	15.93%	15.89%	16.00%	17.27%	16.62%	17.34%	17.42%	18.89%	18.30%	18.47%
Net Nonoperating Expense Percent (NNEP)	0.90%	0.96%	0.90%	0.85%	0.81%	0.83%	0.88%	0.81%	0.95%	0.90%	0.94%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	5.91%	-	-	-	6.75%	6.82%
Cost of Revenue to Revenue	52.54%	52.99%	52.78%	52.34%	51.26%	51.98%	50.63%	50.81%	49.95%	50.16%	49.43%
SG&A Expenses to Revenue	27.14%	26.55%	26.81%	27.05%	27.37%	27.00%	27.72%	27.03%	27.63%	26.75%	27.19%
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	27.14%	26.55%	26.81%	27.05%	27.37%	27.00%	27.72%	27.03%	27.63%	26.75%	27.19%
Earnings before Interest and Taxes (EBIT)	440	445	447	471	501	500	521	548	561	591	610
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	540	546	550	576	607	609	632	663	676	721	737
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	12.51	13.45	12.09	12.28	12.47	13.99	14.99	15.90	20.17	21.21	18.23
Price to Tangible Book Value (P/TBV)	0.00	1,814.46	813.59	102.92	112.81	153.02	127.12	87.78	166.70	196.93	117.28
Price to Revenue (P/Rev)	4.97	5.51	5.11	5.38	5.66	6.08	6.74	7.15	8.32	9.16	8.26
Price to Earnings (P/E)	32.15	35.87	33.90	35.21	36.81	39.04	42.21	43.68	49.51	53.18	47.09
Dividend Yield	1.00%	0.92%	1.02%	0.99%	0.96%	0.91%	0.83%	0.80%	0.70%	0.64%	0.73%
Earnings Yield	3.11%	2.79%	2.95%	2.84%	2.72%	2.56%	2.37%	2.29%	2.02%	1.88%	2.12%
Enterprise Value to Invested Capital (EV/IC)	7.29	8.09	7.68	8.29	8.54	9.21	10.42	11.46	13.36	14.37	13.20
Enterprise Value to Revenue (EV/Rev)	5.30	5.82	5.39	5.62	5.89	6.33	6.96	7.34	8.54	9.38	8.44
Enterprise Value to EBITDA (EV/EBITDA)	21.16	23.18	21.63	22.42	23.24	24.87	27.03	28.07	32.31	34.64	30.61
Enterprise Value to EBIT (EV/EBIT)	26.37	28.70	26.69	27.51	28.43	30.36	32.89	34.07	39.15	41.99	37.07
Enterprise Value to NOPAT (EV/NOPAT)	32.30	35.62	33.54	34.55	36.16	38.48	41.40	42.79	48.59	52.13	46.19
Enterprise Value to Operating Cash Flow (EV/OCF)	27.37	31.17	29.06	31.03	32.37	34.09	33.77	33.89	37.72	41.30	38.52
Enterprise Value to Free Cash Flow (EV/FCFF)	33.82	50.21	40.43	40.43	45.16	48.21	49.11	47.67	49.66	57.43	51.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.93	0.85	0.75	0.64	0.61	0.67	0.58	0.57	0.66	0.62	0.54
Long-Term Debt to Equity	0.77	0.72	0.68	0.64	0.61	0.62	0.58	0.47	0.50	0.47	0.44
Financial Leverage	0.80	0.66	0.71	0.64	0.66	0.66	0.57	0.48	0.54	0.55	0.45
Leverage Ratio	2.47	2.35	2.40	2.33	2.32	2.32	2.22	2.17	2.20	2.19	2.11
Compound Leverage Factor	2.31	2.20	2.25	2.20	2.21	2.20	2.11	2.08	2.10	2.10	2.03
Debt to Total Capital	48.09%	45.99%	42.95%	39.15%	37.79%	40.19%	36.89%	36.45%	39.65%	38.24%	35.04%
Short-Term Debt to Total Capital	8.16%	6.86%	3.91%	0.00%	0.00%	3.14%	0.00%	6.62%	9.24%	9.08%	6.36%
Long-Term Debt to Total Capital	39.93%	39.13%	39.04%	39.15%	37.79%	37.05%	36.89%	29.83%	30.41%	29.16%	28.68%
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	51.91%	54.01%	57.05%	60.85%	62.21%	59.81%	63.11%	63.55%	60.35%	61.76%	64.96%
Debt to EBITDA	1.47	1.39	1.28	1.12	1.09	1.15	1.02	0.99	1.02	0.99	0.89
Net Debt to EBITDA	1.32	1.23	1.12	0.96	0.93	0.99	0.85	0.73	0.86	0.82	0.68
Long-Term Debt to EBITDA	1.22	1.18	1.16	1.12	1.09	1.06	1.02	0.81	0.79	0.75	0.72
Debt to NOPAT	2.24	2.14	1.98	1.73	1.69	1.77	1.56	1.50	1.54	1.49	1.34
Net Debt to NOPAT	2.01	1.89	1.74	1.47	1.45	1.54	1.30	1.11	1.29	1.23	1.02
Long-Term Debt to NOPAT	1.86	1.82	1.80	1.73	1.69	1.64	1.56	1.23	1.18	1.13	1.09
Altman Z-Score	7.66	8.42	8.41	9.11	9.62	10.02	11.11	11.53	12.75	13.86	13.13
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	1.72	1.86	2.10	2.39	2.56	2.24	2.38	1.74	1.53	1.58	1.72
Quick Ratio	0.72	0.79	0.88	1.04	1.10	1.00	1.09	0.87	0.70	0.74	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	315	-51	112	157	113	90	169	262	436	304	279
Operating Cash Flow to CapEx	425.84%	420.21%	546.95%	517.44%	315.80%	418.51%	613.94%	680.04%	502.29%	435.24%	759.87%
Free Cash Flow to Firm to Interest Expense	11.37	-1.75	3.90	6.09	4.59	3.37	6.62	10.87	17.01	11.39	11.26
Operating Cash Flow to Interest Expense	10.76	11.10	14.75	21.48	13.73	14.77	25.74	28.79	18.22	16.55	25.12
Operating Cash Flow Less CapEx to Interest Expense	8.23	8.46	12.05	17.33	9.38	11.24	21.55	24.55	14.59	12.75	21.81
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.01	1.02	1.03	1.06	1.06	1.07	1.08	1.08	1.10	1.09	1.09
Accounts Receivable Turnover	8.08	7.94	8.05	8.17	7.89	7.63	7.86	8.01	7.83	7.52	7.63
Inventory Turnover	9.31	9.15	8.99	9.49	9.68	9.68	9.87	10.71	11.05	11.52	11.65
Fixed Asset Turnover	6.18	6.35	6.45	6.48	6.50	6.56	6.57	6.55	6.52	6.51	6.51
Accounts Payable Turnover	17.63	16.26	17.71	16.77	15.50	15.26	16.45	15.31	13.96	13.63	14.18
Days Sales Outstanding (DSO)	45.16	46.00	45.33	44.70	46.28	47.83	46.45	45.59	46.60	48.55	47.86
Days Inventory Outstanding (DIO)	39.19	39.90	40.61	38.48	37.71	37.72	36.97	34.08	33.03	31.68	31.33
Days Payable Outstanding (DPO)	20.70	22.45	20.61	21.77	23.55	23.92	22.18	23.84	26.15	26.78	25.74
Cash Conversion Cycle (CCC)	63.64	63.44	65.33	61.40	60.44	61.63	61.23	55.82	53.47	53.45	53.45
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,908	6,018	6,038	5,979	6,200	6,323	6,286	6,148	6,237	6,488	6,489
Invested Capital Turnover	1.38	1.44	1.45	1.50	1.49	1.49	1.53	1.58	1.57	1.55	1.59
Increase / (Decrease) in Invested Capital	60	397	235	209	292	305	248	169	37	165	203
Enterprise Value (EV)	43,066	48,711	46,345	49,583	52,970	58,229	65,521	70,480	83,346	93,256	85,632
Market Capitalization	40,388	46,124	43,941	47,468	50,848	55,900	63,468	68,648	81,131	91,061	83,735
Book Value per Share	$31.92	$33.78	$35.75	$37.99	$40.08	$39.22	$41.77	$42.54	$39.91	$10.65	$11.38
Tangible Book Value per Share	($1.85)	$0.25	$0.53	$4.53	$4.43	$3.59	$4.93	$7.71	$4.83	$1.15	$1.77
Total Capital	6,222	6,351	6,368	6,350	6,555	6,679	6,709	6,792	6,664	6,951	7,070
Total Debt	2,992	2,921	2,735	2,486	2,477	2,684	2,475	2,476	2,642	2,658	2,477
Total 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
Net Debt	2,678	2,587	2,405	2,115	2,122	2,329	2,052	1,831	2,215	2,195	1,897
Capital Expenditures (CapEx)	70	76	78	107	107	94	107	102	93	101	82
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,581	1,685	1,682	1,584	1,731	1,804	1,629	1,464	1,573	1,671	1,607
Debt-free Net Working Capital (DFNWC)	1,656	1,775	1,771	1,708	1,819	1,889	1,757	1,806	1,674	1,793	1,850
Net Working Capital (NWC)	1,148	1,339	1,522	1,708	1,819	1,679	1,757	1,357	1,059	1,163	1,400
Net Nonoperating Expense (NNE)	23	22	22	19	19	20	20	16	21	20	19
Net Nonoperating Obligations (NNO)	2,678	2,587	2,405	2,115	2,122	2,329	2,052	1,831	2,215	2,195	1,897
Total Depreciation and Amortization (D&A)	100	101	103	105	107	109	111	115	115	130	127
Debt-free, Cash-free Net Working Capital to Revenue	19.46%	20.12%	19.55%	17.97%	19.25%	19.62%	17.31%	15.26%	16.12%	16.81%	15.84%
Debt-free Net Working Capital to Revenue	20.38%	21.19%	20.58%	19.38%	20.23%	20.55%	18.67%	18.82%	17.16%	18.04%	18.24%
Net Working Capital to Revenue	14.13%	15.99%	17.68%	19.38%	20.23%	18.26%	18.67%	14.14%	10.85%	11.70%	13.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.45	$3.18	$3.19	$3.39	$0.94	$0.92	$3.90	$4.07	$1.12	$1.11	$1.14
Adjusted Weighted Average Basic Shares Outstanding	101.55M	101.62M	101.70M	101.74M	407.42M	405.49M	101.46M	100.77M	403.30M	403.54M	403.79M
Adjusted Diluted Earnings per Share	$3.39	$3.12	$3.14	$3.34	$0.93	$0.90	$3.84	$4.00	$1.10	$1.09	$1.13
Adjusted Weighted Average Diluted Shares Outstanding	101.55M	101.62M	101.70M	101.74M	407.42M	405.49M	101.46M	100.77M	403.30M	403.54M	403.79M
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	101.55M	101.62M	101.70M	101.74M	407.42M	405.49M	101.46M	100.77M	403.30M	403.54M	403.79M
Normalized Net Operating Profit after Tax (NOPAT)	375	347	348	366	405	395	417	430	473	469	482
Normalized NOPAT Margin	17.32%	15.93%	15.89%	16.00%	17.27%	16.62%	17.34%	17.42%	18.89%	18.30%	18.47%
Pre Tax Income Margin	19.04%	19.14%	19.10%	19.52%	20.34%	19.93%	20.62%	21.33%	21.45%	22.08%	22.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	15.88	15.39	15.50	18.27	20.39	18.79	20.40	22.74	21.90	22.18	24.63
NOPAT to Interest Expense	13.53	11.98	12.07	14.18	16.48	14.86	16.35	17.88	18.45	17.58	19.46
EBIT Less CapEx to Interest Expense	13.35	12.74	12.81	14.12	16.05	15.26	16.21	18.51	18.27	18.38	21.32
NOPAT Less CapEx to Interest Expense	11.01	9.34	9.38	10.03	12.14	11.33	12.15	13.64	14.82	13.78	16.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.33%	32.05%	33.22%	33.38%	34.01%	34.28%	33.98%	33.78%	33.66%	33.32%	33.25%
Augmented Payout Ratio	125.82%	126.14%	85.29%	62.97%	45.00%	67.33%	66.97%	78.32%	109.44%	87.54%	84.42%

Frequently Asked Questions About Cintas' Financials

When does Cintas's fiscal year end?

According to the most recent income statement we have on file, Cintas' financial year ends in May. Their financial year 2024 ended on May 31, 2024.

How has Cintas' net income changed over the last 9 years?

Cintas' net income appears to be on an upward trend, with a most recent value of $1.57 billion in 2024, rising from $430.62 million in 2015. The previous period was $1.35 billion in 2023.

What is Cintas's operating income?

Cintas's total operating income in 2024 was $2.07 billion, based on the following breakdown:

Total Gross Profit: $4.69 billion
Total Operating Expenses: $2.62 billion

How has Cintas revenue changed over the last 9 years?

Over the last 9 years, Cintas' total revenue changed from $4.37 billion in 2015 to $9.60 billion in 2024, a change of 119.6%.

How much debt does Cintas have?

Cintas' total liabilities were at $4.85 billion at the end of 2024, a 3.6% increase from 2023, and a 114.7% increase since 2015.

How much cash does Cintas have?

In the past 9 years, Cintas' cash and equivalents has ranged from $90.47 million in 2022 to $493.64 million in 2021, and is currently $342.02 million as of their latest financial filing in 2024.

How has Cintas' book value per share changed over the last 9 years?

Over the last 9 years, Cintas' book value per share changed from 16.89 in 2015 to 42.54 in 2024, a change of 151.8%.

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This page (NASDAQ:CTAS) was last updated on 4/15/2025 by MarketBeat.com Staff

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Cintas (CTAS) Financials

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