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Saturday 10 October 2026 Export all CTAS data to Excel Powerpack

Cintas Corporation

CTAS Industrials Specialty Business Services

Cintas Corporation’s revenue for fiscal 2026 (year ended May 2026) was $11.3 billion, up 8.94% from fiscal 2025. In the quarter to August 2026, revenue grew 10.9%, EPS grew 12.5%, free cash flow grew 48.7% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for five consecutive years, revenue growth for ten, operating cash flow growth for ten.

202.41 1.29 +0.64%
Market cap
$80.6B
P/E
39.5×
Fwd P/E
33.1×
Dividend yield
0.92%
F-score
8/9
Altman Z
11.41
Beneish M
−2.52
Dividend safety
85/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Cintas Corporation (CTAS) Financial Analysis

Updated · Covers results through Q1 FY2027 · Sources · How this is made

Snapshot

Cintas generated revenue of $11.3 billion in FY2026, with operating income of $2.6 billion in FY2026 and net income of $2.0 billion in FY2026. Diluted EPS was $4.91 in FY2026.

In Q1 FY2027, ended August 31, 2026, revenue was $3.0 billion, gross profit was $1.6 billion, operating income was $711.9 million, and net income was $551.7 million. Diluted EPS was $1.36 in Q1 FY2027. Market capitalisation was $78.9 billion as of October 7, 2026.

Growth

Revenue grew 8.94% in FY2026 against FY2025, following a 8.51% compound annual growth rate in FY2023–FY2026 and a 9.62% compound annual growth rate in FY2021–FY2026. Diluted EPS grew 11.6% in FY2026 against FY2025, with compound annual growth of 14.8% in FY2023–FY2026 and 13.9% in FY2021–FY2026.

Free cash flow grew 5.63% in FY2026 against FY2025; its compound annual growth rate was 14.4% in FY2023–FY2026 and 8.54% in FY2021–FY2026. In Q1 FY2027 against Q1 FY2026, revenue increased 10.9%, diluted EPS increased 13.3%, and free cash flow increased 48.7%.

Profitability

Gross margin was 50.7% in FY2026, up 4.1 percentage points in FY2021–FY2026. Operating margin was 23.1% in FY2026, up 3.7 percentage points in FY2021–FY2026. Pre-tax margin was 22.2% in FY2026, up 4.1 percentage points in FY2021–FY2026, while net margin was 17.8% in FY2026, up 2.1 percentage points in FY2021–FY2026.

The year-over-year margin changes in FY2025–FY2026 were 0.6 percentage points for gross margin, 0.3 percentage points for operating margin, 0.3 percentage points for pre-tax margin, and 0.2 percentage points for net margin. Return on equity was 40.6% in FY2026, return on assets was 19.6% in FY2026, and return on invested capital was 22.4% in FY2026.

Balance sheet

Total debt was $2.4 billion in FY2026, unchanged from FY2025, while net debt was $2.1 billion in FY2026, compared with $2.2 billion in FY2025. Cash and short-term investments were $289.0 million in FY2026, and shareholders’ equity was $5.1 billion in FY2026.

Working capital was $1.2 billion in FY2026, compared with $1.8 billion in FY2025. At Q1 FY2027, net debt was $2.2 billion, the current ratio was 1.5×, and debt to equity was 0.5×. Management reported no commercial paper outstanding and no borrowings under its revolving credit facility at the end of Q1 FY2027.

Cash flow & capital return

Operating cash flow was $2.3 billion in FY2026, an increase of 5.10% in FY2026 against FY2025. Capital expenditure was $395.1 million in FY2026, and free cash flow was $1.9 billion in FY2026, up 5.63% in FY2026 against FY2025. Free cash flow represented 94.1% of net income in FY2026.

Dividends paid were $701.5 million in FY2026 and net share repurchases were $952.1 million in FY2026; capital returned to shareholders totalled $1.7 billion in FY2026. Weighted average shares were 401.3 million shares in FY2026, and the share count changed by −4.35% in FY2021–FY2026. Capital returned to shareholders was $7.2 billion in FY2022–FY2026.

Valuation

As of October 7, 2026, P/E was 38.3×, above its 35.7× five-year median and 33.5× ten-year median; it was also above the 23.6× industry median. As of October 7, 2026, P/S was 6.8×, above its 6.2× five-year median, 5.2× ten-year median, and 1.1× industry median.

As of October 7, 2026, P/B was 15.1×, above its 13.5× five-year median, 11.2× ten-year median, and 2.3× industry median. As of October 7, 2026, EV/Sales was 7.0×, above its 6.3× five-year median, 5.5× ten-year median, and 1.5× industry median. As of October 7, 2026, EV/Cash flow was 39.6×, below its 40.2× five-year median and above its 33.2× ten-year median; an industry median is not reported.

What changed since last quarter

In Q1 FY2027 against Q4 FY2026, revenue increased 3.74%, diluted EPS increased 7.94%, and free cash flow changed −24.2%. Gross margin increased 0.6 percentage points and operating margin increased 0.5 percentage points in Q1 FY2027 against Q4 FY2026. Net debt changed by $46.2 million and weighted average shares changed −0.28% in Q1 FY2027 against Q4 FY2026.

In Q1 FY2027 against Q1 FY2026, revenue increased 10.9%, gross margin increased 1.3 percentage points, operating margin increased 0.9 percentage points, and diluted EPS increased 13.3%. Management attributes revenue growth to new business, additional products and services sold to existing customers, price increases, customer retention, acquisitions, and one additional workday. Management attributes margin expansion principally to more efficient use of in-service inventory, sourcing initiatives, efficiency gains, fixed-cost leverage, and favourable sales mix.

Open questions

  • How much of the recent revenue growth came from each source of organic growth and acquisitions?
  • What factors explain the change in free cash flow between the latest quarter and the preceding quarter?
  • How are capital expenditure requirements expected to vary across the business?
  • What is the intended balance between dividends, share repurchases and debt management?

Sources

This page is for information only. It is not investment advice, a recommendation or an offer to buy or sell any security. Figures come from the sources listed above and may contain errors; verify against the company's filings.