CINTAS CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CINTAS CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	5,323	6,477	6,892	7,085	7,116	7,854	8,816	9,597	10,340	11,265
Cost of revenue							4,642	4,910	5,166	5,557
Gross profit	2,380	2,909	3,129	3,234	3,315	3,632	4,173	4,686	5,174	5,708
Selling, general and administrative	1,527	1,917	1,981	2,071	1,929	2,045	2,371	2,618	2,814	3,086
Operating income	774	950	1,134	1,163	1,385	1,587	1,803	2,069	2,360	2,607
Interest expense	86.5	110	102	105	98.2	88.8	111	101	101	106
Interest income	0.24	1.34	1.23	0.99	0.47	0.24	1.72	5.74	5.58	5.11
Pre-tax income	687	841	1,102	1,058	1,288	1,499	1,693	1,974	2,264	2,505
Income tax	230	57.1	220	182	177	263	345	402	452	505
Income from continuing operations	457	784	883	876	1,111	1,236	1,348
Net income	481	843	885	876	1,111	1,236	1,348	1,572	1,812	2,000
EBITDA	970	1,229	1,494	1,542	1,773	1,987	2,212	2,511	2,854	3,119
EPS, basic	1.12	1.95	2.06	2.09	2.63	2.98	3.30	3.85	4.48	4.97
EPS, diluted	1.10	1.89	2.00	2.03	2.56	2.91	3.25	3.79	4.40	4.91
Shares, basic (weighted)	420	426	424	415	419	412	407	407	404	401
Shares, diluted (weighted)	431	439	438	428	430	422	414	413	410	406
Dividend per share	0.33	0.41	0.51	0.64	1.25	0.95	1.15	1.35	1.56	1.80

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	169	139	96.6	145	494	90.5	124	342	264	289
Short-term investments	22.2	0
Receivables	736	805	910	870	902	1,006	1,153	1,244	1,417	1,555
Inventory	278	280	335	409	482	472	507	410	447	446
Other current assets	30.1	32.4	103	115	134	125	143	149	170	286
Total current assets	1,954	1,978	2,236	2,310	2,843	2,632	2,938	3,185	3,436	3,853
Property, plant and equipment	1,324	1,383	1,431	1,403	1,318	1,324	1,396	1,534	1,652	1,741
Lease right-of-use assets				160	169	170	178	188	224	271
Goodwill	2,782	2,847	2,842	2,870	2,913	3,043	3,056	3,212	3,400	3,544
Intangible assets	587	546	495	452	408	719	701	690	694	707
Other non-current assets	32	29.3	240	261	310	344	383	425	463	394
Total assets	6,844	6,958	7,437	7,670	8,237	8,147	8,546	9,169	9,825	10,529
Accounts payable	177	215	226	231	231	252	302	339	485	461
Accrued liabilities	430	420	434	457	519	589	633	761	875	889
Short-term debt	363	0	312	0	899	312	0	450	0	999
Total current liabilities	1,131	776	1,128	885	1,934	1,433	1,230	1,829	1,645	2,687
Long-term debt	2,771	2,535	2,538	2,540	1,643	2,484	2,486	2,026	2,425	1,429
Lease liabilities				123	131	129	138	147	179	221
Total liabilities	4,541	3,942	4,434	4,435	4,549	4,839	4,682	4,852	5,141	5,389
Total debt	2,771	2,535	2,538	2,540	1,643	2,484	2,486	2,026	2,425	1,429
Paid-in capital	224	245	228	172	98.9
Retained earnings	5,171	5,838	6,691	7,297	7,877	8,719	9,597	10,618	11,798	13,074
Treasury stock	-3,574	-3,701	-4,718	-5,182	-5,736	-7,291	-7,843	-8,698	-9,792	-10,870
Other comprehensive income	-3.03	16.3	-39.2	-153	30.9	108	77.8	91.2	84.4	84.5
Shareholders' equity	2,303	3,017	3,003	3,235	3,688	3,308	3,864	4,316	4,684	5,140
Total equity	2,303	3,017	3,003	3,235	3,688	3,308	3,864	4,316	4,684	5,140
Total liabilities and equity	6,844	6,958	7,437	7,670	8,237	8,147	8,546	9,169	9,825	10,529
Shares outstanding	421	425	413	413	416	407	102	405	403	400

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	481	843	885	876	1,111	1,236	1,348	1,572	1,812	2,000
Depreciation and amortization	197	279	360	379	388	400	409	442	494	513
Stock-based compensation	88.9	113	139	115	112	109	104	117	128	128
Deferred income tax	8.79	-115	34.8	-13.3	-42.1	51.6	26.9	-30.5	-8.12	59.6
Change in receivables	-93.6	-66.3	-94.9	39.7	-32.6	-100	-152	-91.4	-174	-135
Change in inventory	-0.67	-3.32	-60	-74.8	-75.5	16.2	-35.7	95.8	-33.9	2.27
Change in payables	13.7	35.3	12.3	2.63	-2.6	22.7	53.4	36.9	144	-24.1
Cash from operations	764	964	1,068	1,291	1,361	1,538	1,586	2,069	2,166	2,276
Capital expenditures	-273	-272	-277	-230	-143	-241	-331	-409	-409	-395
Acquisitions	-2,102	-19.3	-9.81	-53.7	-10	-164	-46.4	-187	-233	-165
Purchases of investments	-181	-154	-17.8	-10	-4.3	-6.08	-4.57	-7.55	-7.2	-8.25
Sales and maturities of investments	218	180	0	0
Cash from investing	-2,310	-136	-236	-285	-137	-403	-382	-603	-624	-568
Debt issued	1,932	0	200	0	0	1,191	0	0	398	0
Debt repaid	-250	-550	0	-200	0	-1,200	-50	-13.5	-450	0
Stock issued	31.9	41.8	65.4	90.5	130	118	3	1.4	0.9	3.8
Share buybacks	-20.7	-127	-1,016	-465	-554	-1,526	-399	-700	-935	-952
Dividends paid	-142	-176	-221	-268	-451	-375	-450	-531	-612	-701
Cash from financing	1,579	-864	-873	-955	-880	-1,538	-1,167	-1,248	-1,619	-1,682
Exchange rate effect	-2.13	5.14	-1	-2.12	4.58	-0.22	-4.19	0.21	-1.3	-0.74
Net change in cash	29.9	-30.5	-42.1	48.8	348	-403	33.7	218	-78	25
Free cash flow	491	692	791	1,061	1,217	1,297	1,255	1,659	1,757	1,881
Interest paid	76.6	122	102	106	98.3	97.8	112	101	102	106
Income taxes paid	270	175	173	160	246	209	292	423	455	402

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $199.91 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	50.7%	Gross profit / revenue.
Operating margin	23.1%	Operating income / revenue.
EBITDA margin	27.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	22.2%	Pre-tax income / revenue.
Net margin	17.8%	Net income / revenue.
FCF margin	16.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	20.2%	Cash from operations / revenue.
Effective tax rate	20.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	40.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	19.7%	Net income / average total assets.
Return on invested capital (ROIC)	31.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	27.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.5%	Capital expenditures / revenue.
D&A / revenue	4.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	8.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	11.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	11.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	10.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	13.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	13.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	9.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	12.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	12.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	10.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	14.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	12.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	11.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	14.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	13.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	5.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	12.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	7.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	14.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	9.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	15.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	16.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.43x	Current assets / current liabilities.
Quick ratio	0.69x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.11x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.28x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	13.6%	Total debt / total assets.
Liabilities / assets	51.2%	Total liabilities / total assets.
Net debt	$1.14B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.37x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	24.5x	Operating income / interest expense.
Working capital	$1.17B	Current assets - current liabilities.
Goodwill and intangibles / assets	40.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$889.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.11x	Revenue / average total assets.
Fixed asset turnover	6.64x	Revenue / average property, plant and equipment.
Inventory turnover	12.4x	Cost of revenue / average inventory.
Days inventory	29 days	365 x average inventory / cost of revenue.
Receivables turnover	7.58x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	31 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	46 days	Days inventory + days sales outstanding - days payables.
FCF conversion	94.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	17.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.91	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$4.97	Net income per basic share, as reported (split-adjusted).
Revenue per share	$27.73	Revenue / diluted weighted shares.
FCF per share	$4.63	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.60	Cash from operations / diluted weighted shares.
Book value per share	$12.85	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.22	Tangible book value / shares outstanding.
Cash per share	$0.72	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.80	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	35.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	37.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	50.6%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$80.00B	Share price x shares outstanding.
Enterprise value	$81.14B	Market cap + total debt - cash - short-term investments.
P/E	40.0x	Market cap / net income. Only when net income is positive.
P/S	7.10x	Market cap / revenue.
P/B	15.6x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	90.0x	Market cap / tangible book value, when positive.
P/FCF	42.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	35.1x	Market cap / cash from operations, when positive.
EV/Sales	7.20x	Enterprise value / revenue.
EV/EBIT	31.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	26.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	43.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.4%	Free cash flow / market cap.
Earnings yield	2.5%	Net income / market cap (the inverse of P/E).
Dividend yield	0.9%	Dividends paid over the period / market cap.
Shareholder yield	2.1%	(Dividends paid + share buybacks) / market cap.
PEG	2.71x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was CINTAS CORP's revenue in fiscal 2026?

CINTAS CORP reported revenue of $11.26B for fiscal 2026, 8.9% higher than the year before.

Was CINTAS CORP profitable in fiscal 2026?

Yes. Net income was $2.00B, a net margin of 17.8%.

How much free cash flow did CINTAS CORP generate in fiscal 2026?

Cash from operations of $2.28B minus capital expenditures of $395.1M left free cash flow of $1.88B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to CINTAS CORP