CINTAS CORP

Listed Company

CTASCIK 0000723254NasdaqLarge AcceleratedMen'S & Boys' Furnishgs, Work Clothg, & Allied GarmentsWashingtonFY ends May 31

Period

FY 2025

Revenue

$10.34B

Net Income

$1.81B

Total Assets

$9.83B

Equity

$4.68B

Shares Out

400.09M

Op. Cash Flow

$2.17B

Business

Cintas Corporation provides uniform, facility and safety services that help businesses maintain clean, safe and professional workplaces. The company offers uniform rental and direct-sale apparel, mats, mops, shop towels, restroom supplies, workplace water services, first aid and safety products, fire protection services, safety training and related maintenance and testing services. Its reporting structure comprises the Uniform Rental and Facility Services segment and the First Aid and Safety Services segment, with other activities (including fire protection and direct uniform sales) classified as All Other. Cintas primarily serves customers in the United States, with operations extending into Canada and Latin America through local delivery routes, rental processing plants, branches, distribution centers and local representatives.

Summary from filing dated 2025-07-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Revenue	10,340	9,597	8,816	7,854	7,116
Cost of sales	5,166	4,910	4,642	—	—
Selling and administrative expenses	2,814	2,618	2,371	2,045	1,929
Operating income	2,360	2,069	1,803	1,587	1,385
Interest income	−6	−6	−2	−242,000	−467,000
Interest expense	101	101	111	89	—
Income before income taxes	2,264	1,974	1,693	1,499	1,288
Income taxes	452	402	345	263	177
Net income	1,812	1,572	1,348	1,236	1,111
Basic earnings per share (in dollars per share)	4.48	3.85	3.3	11.92	10.52
Diluted earnings per share (in dollars per share)	4.4	3.79	3.25	11.65	10.24
Dividends declared and paid per share (in dollars per share)	1.56	1.35	1.15	3.8	5.01

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Cash and cash equivalents	264	342	124	90	494
Accounts receivable, principally trade, less allowance of $26,357 and $17,914, respectively	1,417	1,244	1,153	1,006	902
Inventories, net	447	410	507	472	482
Uniforms and other rental items in service	1,137	1,040	1,012	917	810
Prepaid expenses and other current assets	170	149	143	125	134
Total current assets	3,436	3,185	2,938	2,632	2,843
Property and equipment, net	1,652	1,534	1,396	1,324	1,318
Investments	340	302	247	243	275
Goodwill	3,400	3,212	3,056	3,043	2,913
Service contracts, net	310	322	347	392	408
Operating lease right-of-use assets, net	224	188	178	170	169
Other assets, net	463	425	383	344	310
Total assets	9,825	9,169	8,546	8,147	8,237
Accounts payable	485	339	302	252	231
Accrued compensation and related liabilities	230	214	239	237	241
Accrued liabilities	875	761	633	589	519
Income taxes, current	4	19	12	0	0
Operating lease liabilities, current	51	46	44	44	44
Debt due within one year	0	450	0	312	899
Total current liabilities	1,645	1,829	1,230	1,433	1,934
Debt due after one year	2,425	2,026	2,486	2,484	1,643
Deferred income taxes	472	476	498	474	387
Operating lease liabilities	179	147	138	129	131
Accrued liabilities	421	376	329	319	455
Total long-term liabilities	3,496	3,024	3,452	3,406	2,615
Preferred stock, no par value: 100 shares authorized, none outstanding	0	0	0	0	0
Common stock, no par value, and paid-in capital: 1,700,000 shares authorized 2025: 776,936 shares issued and 402,948 shares outstanding 2024: 773,097 shares issued and 405,008 shares outstanding	2,593	2,305	2,032	1,772	1,516
Retained earnings	11,798	10,618	9,597	8,719	7,877
Treasury stock: 2025: 373,988 shares 2024: 368,089 shares	−9,792	−8,698	−7,843	−7,291	—
Accumulated other comprehensive income	84	91	78	108	31
Total shareholders' equity	4,684	4,316	3,864	3,308	3,688
Total liabilities and shareholders' equity	9,825	9,169	8,546	8,147	8,237

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Depreciation	303	281	267	249	244
Amortization of intangible assets and capitalized contract costs	191	176	152	150	144
Stock-based compensation	128	117	104	109	112
Gain on sale of property and equipment	−19	0	0	−12	−22
Deferred income taxes	−6	−29	23	52	−42
Accounts receivable, net	−174	−91	−152	−100	−33
Inventories, net	−34	96	−36	16	−76
Uniforms and other rental items in service	−94	−23	−98	−111	−36
Prepaid expenses and other current assets and capitalized contract costs	−181	−143	−154	−29	−103
Accounts payable	144	37	53	23	−3
Accrued compensation and related liabilities	18	−27	3	−4	114
Accrued liabilities and other	92	98	41	−9	−7
Income taxes, current	−15	6	34	−3	−49
Net cash provided by operating activities	2,166	2,069	1,586	1,538	1,361
Capital expenditures	−409	−409	−331	−241	−143
Purchases of investments	−7	−8	−5	−6	−4
Proceeds from sale of property and equipment	24	0	0	—	—
Acquisitions of businesses, net of cash acquired	−233	−187	−46	−164	−10
Other, net	1	518,000	420,000	−7	−11
Net cash used in investing activities	−624	−603	−382	−403	−137
Payments of commercial paper, net	0	0	−261	261	0
Proceeds from issuance of debt	398	0	0	1,191	0
Debt issuance costs	−1	0	0	—	—
Repayment of debt	−450	−13	−50	−1,200	0
Proceeds from exercise of stock-based compensation awards	896,000	1	3	118	130
Dividends paid	−612	−531	−450	−375	−451
Repurchase of common stock	−935	−700	−399	−1,526	−554
Other, net	−20	−4	−10	−6	−4
Net cash used in financing activities	−1,619	−1,248	−1,167	−1,538	−880
Effect of exchange rate changes on cash and cash equivalents	−1	206,000	−4	−216,000	5
Net (decrease) increase in cash and cash equivalents	−78	218	34	−403	348

Filings

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