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CINTAS CORP

CTAS· Nasdaq· Men's & Boys' Furnishgs, Work Clothg, & Allied Garments

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
16.7%
ROIC, 5 yr avg
25.3%
Revenue, 5 yr CAGR
+9.6%
We record prices for the companies we cover; CTAS is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2026

Market cap
–
Enterprise value
–
Diluted shares
406.2M
Revenue
$11.3B
Free cash flow
$1.9B
Owner earnings
$1.8B

Valuation · FY2026

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2026

Gross
50.7%
Operating
23.1%
Net
17.8%
Free cash flow
16.7%
Owner earnings
15.6%
Stock pay
1.1%

Returns

ROIC, FY2026
28.6%
ROIC, 5 yr avg
25.3%
ROE, FY2026
38.9%
ROE, 5 yr avg
37.2%

Growth (CAGR)

Revenue, 3 yr
8.5%
Revenue, 5 yr
9.6%
Revenue, 9 yr
8.7%
Diluted EPS, 3 yr
14.7%
Diluted EPS, 5 yr
13.9%
Diluted EPS, 9 yr
18.1%
Free cash flow, 3 yr
14.4%
Free cash flow, 5 yr
9.1%
Free cash flow, 9 yr
16.1%

Financial health · FY2026

Cash and investments
$289.0M
Total debt
$2.4B
Net debt
$2.1B
Debt/Equity
0.5x
Debt/FCF
1.3x

Shareholder returns · FY2026

Dividend yield
–
Payout ratio
35.1%
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
-1.2%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$11.3B

+8.7% a year over 9 years

FY2017: Revenue $5.3BFY2018: Revenue $6.5BFY2019: Revenue $6.9BFY2020: Revenue $7.1BFY2021: Revenue $7.1BFY2022: Revenue $7.9BFY2023: Revenue $8.8BFY2024: Revenue $9.6BFY2025: Revenue $10.3BFY2026: Revenue $11.3B
FY2017FY2026

Margins

Gross50.7%Operating23.1%Net17.8%

FY2026

FY2017: Gross 44.7%, Operating 14.5%, Net 9.0%FY2018: Gross 44.9%, Operating 14.7%, Net 13.0%FY2019: Gross 45.4%, Operating 16.4%, Net 12.8%FY2020: Gross 45.6%, Operating 16.4%, Net 12.4%FY2021: Gross 46.6%, Operating 19.5%, Net 15.6%FY2022: Gross 46.2%, Operating 20.2%, Net 15.7%FY2023: Gross 47.3%, Operating 20.4%, Net 15.3%FY2024: Gross 48.8%, Operating 21.6%, Net 16.4%FY2025: Gross 50.0%, Operating 22.8%, Net 17.5%FY2026: Gross 50.7%, Operating 23.1%, Net 17.8%
FY2017FY2026

Free cash flow and owner earnings

Free cash flow$1.9BOwner earnings$1.8B

Free cash flow +16.1% a year

FY2017: Free cash flow $490.6M, Owner earnings $401.7MFY2018: Free cash flow $692.5M, Owner earnings $579.6MFY2019: Free cash flow $791.1M, Owner earnings $651.9MFY2020: Free cash flow $1.1B, Owner earnings $945.8MFY2021: Free cash flow $1.2B, Owner earnings $1.1BFY2022: Free cash flow $1.3B, Owner earnings $1.2BFY2023: Free cash flow $1.3B, Owner earnings $1.2BFY2024: Free cash flow $1.7B, Owner earnings $1.5BFY2025: Free cash flow $1.8B, Owner earnings $1.6BFY2026: Free cash flow $1.9B, Owner earnings $1.8B
FY2017FY2026

Diluted shares

406.2M

-5.8% over 9 years, net buybacks

FY2017: Diluted shares 431.1MFY2018: Diluted shares 439.2MFY2019: Diluted shares 438.0MFY2020: Diluted shares 428.0MFY2021: Diluted shares 430.8MFY2022: Diluted shares 422.1MFY2023: Diluted shares 413.5MFY2024: Diluted shares 413.5MFY2025: Diluted shares 410.3MFY2026: Diluted shares 406.2M
FY2017FY2026

Return on invested capital

28.6%

FY2026

FY2017: ROIC 9.7%FY2018: ROIC 16.4%FY2019: ROIC 14.7%FY2020: ROIC 17.1%FY2021: ROIC 20.8%FY2022: ROIC 21.8%FY2023: ROIC 23.1%FY2024: ROIC 25.5%FY2025: ROIC 27.6%FY2026: ROIC 28.6%
FY2017FY2026

Net debt (below zero)

-$2.1B

$2.1B more debt than cash

FY2017: Net cash -$3.0BFY2018: Net cash -$2.4BFY2019: Net cash -$3.2BFY2020: Net cash -$2.4BFY2021: Net cash -$2.0BFY2022: Net cash -$2.7BFY2023: Net cash -$2.4BFY2024: Net cash -$2.1BFY2025: Net cash -$2.2BFY2026: Net cash -$2.1B
FY2017FY2026

Every figure, year by year

Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
The business
Revenue$5.3B$6.5B$6.9B$7.1B$7.1B$7.9B$8.8B$9.6B$10.3B$11.3B
Revenue growth11.0%21.7%6.4%2.8%0.4%10.4%12.2%8.9%7.7%8.9%
Gross margin44.7%44.9%45.4%45.6%46.6%46.2%47.3%48.8%50.0%50.7%
Operating margin14.5%14.7%16.4%16.4%19.5%20.2%20.4%21.6%22.8%23.1%
Net income$480.7M$842.6M$885.0M$876.0M$1.1B$1.2B$1.3B$1.6B$1.8B$2.0B
Net margin9.0%13.0%12.8%12.4%15.6%15.7%15.3%16.4%17.5%17.8%
Diluted EPS$1.10s$1.89s$2.00s$2.03s$2.56s$2.91s$3.25$3.79$4.40$4.91
Return on invested capital?9.7%16.4%14.7%17.1%20.8%21.8%23.1%25.5%27.6%28.6%
Cash
Operating cash flow$763.9M$964.2M$1.1B$1.3B$1.4B$1.5B$1.6B$2.1B$2.2B$2.3B
Capital expenditure$273.3M$271.7M$276.7M$230.3M$143.5M$240.7M$331.1M$409.5M$408.9M$395.1M
Free cash flow$490.6M$692.5M$791.1M$1.1B$1.2B$1.3B$1.3B$1.7B$1.8B$1.9B
Stock-based compensation$88.9M$112.8M$139.2M$115.4M$112.0M$109.3M$103.6M$117.0M$128.3M$128.1M
Owner earnings?$401.7M$579.6M$651.9M$945.8M$1.1B$1.2B$1.2B$1.5B$1.6B$1.8B
Free cash flow per share$1.14$1.58$1.81$2.48$2.83$3.07$3.04$4.01$4.28$4.63
Capital allocation
Dividends paid$142.4M$175.6M$220.8M$268.0M$451.3M$375.1M$449.9M$530.9M$611.6M$701.5M
Share repurchases$20.7M$127.3M$1.0B$464.5M$554.1M$1.5B$398.9M$700.0M$934.8M$952.1M
Diluted shares431.1Ms439.2Ms438.0Ms428.0Ms430.8Ms422.1Ms413.5M413.5M410.3M406.2M
Share count change?-2.0%1.9%-0.3%-2.3%0.6%-2.0%-2.0%0.0%-0.8%-1.0%
Balance sheet
Cash and equivalents$169.3M$138.7M$96.6M$145.4M$493.6M$90.5M$124.1M$342.0M$264.0M$289.0M
Short-term investments$22.2M$0––––––––
Total debt$3.2B$2.5B$3.3B$2.5B$2.5B$2.8B$2.5B$2.5B$2.4B$2.4B
Net debt$3.0B$2.4B$3.2B$2.4B$2.0B$2.7B$2.4B$2.1B$2.2B$2.1B
Shareholders' equity$2.3B$3.0B$3.0B$3.2B$3.7B$3.3B$3.9B$4.3B$4.7B$5.1B

Latest filings

All on EDGAR
2026-10-0710-QQuarterly report
2026-09-238-KEarnings release
2026-09-15DEF 14AProxy statement
2026-07-2910-KAnnual report
2026-07-158-KEarnings release
2026-04-0710-QQuarterly report
2026-03-258-KEarnings release
2026-01-0710-QQuarterly report
2025-12-188-KEarnings release
2025-10-0810-QQuarterly report

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