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.
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Cintas Corporation (CTAS) Altman Z-score
Cintas Corporation's Altman Z-score for fiscal 2026 is 11.41, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 11.41 | (3.00) |
| FY2025 | 14.41 | 2.30 |
| FY2024 | 12.11 | 2.42 |
| FY2023 | 9.69 | 1.31 |
| FY2022 | 8.38 | 0.60 |
| FY2021 | 7.78 | 1.32 |
| FY2020 | 6.46 | 0.41 |
| FY2019 | 6.05 | 0.33 |
| FY2018 | 5.72 | 1.62 |
| FY2017 | 4.10 | (2.29) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.11 | — | 0.13 | |
| Retained earnings / total assets | 1.24 | — | 1.74 | |
| EBIT / total assets | 0.25 | — | 0.82 | |
| Market value of equity / total liabilities | 12.75 | — | 7.65 | |
| Sales / total assets | 1.07 | — | 1.07 | |
| Altman Z-score | Safe zone | 11.41 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.44 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CPRT Copart, Inc. compare | 20.5× |
| CTAS Cintas Corporation | 11.4× |
| DLB Dolby Laboratories compare | 9.2× |
| ULS UL Solutions Inc. compare | 7.8× |
| UNF Unifirst Corporation compare | 5.7× |
| RELX RELX PLC compare | 3.9× |
| RTO Rentokil Initial PLC compare | 2.3× |
| ARMK Aramark compare | 2.2× |
| AMTM Amentum Holdings, Inc. compare | 1.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on CTAS
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement