CINTAS CORPCTAS

CINTAS CORP Revenue Disclosure

10-KFiled Jul 28, 20252 min read
Revenue Recognition
The following table presents Cintas' total revenue disaggregated by operating segment for the fiscal years ended May 31:
(In thousands)202520242023
Uniform Rental and Facility
   Services		$7,976,073 77.1 %$7,465,199 77.8 %$6,897,130 78.2 %
First Aid and Safety Services1,218,090 11.8 %1,067,334 11.1 %951,496 10.8 %
Fire Protection Services817,463 7.9 %728,610 7.6 %627,747 7.1 %
Uniform Direct Sales328,555 3.2 %335,472 3.5 %339,396 3.9 %
Total revenue$10,340,181 100.0 %$9,596,615 100.0 %$8,815,769 100.0 %

The Fire Protection Services and Uniform Direct Sales operating segments are included within All Other as disclosed in Note 14 entitled Operating Segment Information.

Costs to Obtain a Contract
The Company capitalizes commission expenses paid to our employee-partners when the commissions are deemed to be incremental for obtaining the route servicing customer contract. Capitalized commissions are classified as current or noncurrent based on the timing of when we expect to recognize the expense. The current portion is included in prepaid expenses and other current assets, and the noncurrent portion is included in other assets, net on the Company's consolidated balance sheets. As of May 31, 2025, the current and noncurrent assets related to capitalized commissions totaled $96.5 million and $275.3 million, respectively. As of May 31, 2024, the current and noncurrent assets related to capitalized commissions totaled $94.6 million and $262.5 million, respectively. We recorded amortization expense related to capitalized commissions of $106.3 million, $101.4 million and $94.8 million during the fiscal years ended May 31, 2025, 2024 and 2023, respectively. These expenses are classified in selling and administrative expenses on the consolidated statements of income.

Historical Timeline

Fiscal YearFiled
2025Jul 28, 2025Showing above
2024Jul 25, 2024
2023Jul 27, 2023
2022Jul 27, 2022
2021Jul 28, 2021
2020Jul 29, 2020
2019Jul 26, 2019
2017Jul 31, 2017

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

Income TaxesEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtStock CompensationNew Standards