CINTAS CORP (CTAS)

Price—Loading quote

AI: Overvalued

Price checkThe shares look expensive even after allowing for strong, steady growth.

Cintas’s investor page, supplied by LSEG, showed $200.70 for August 13, the latest company-hosted close available. Against fiscal 2026 diluted earnings of $4.91, that is 40.9 times earnings. Against fiscal 2027 adjusted guidance of $5.36-$5.50, it is 36.5-37.4 times. Fiscal 2026 free cash flow—cash left after operations and capital spending—was $1.88 billion, or about $4.70 per share, implying only a 2.3% cash yield. An illustrative 8% return and 25-times exit value require roughly 13% yearly earnings growth for ten years, before dividends.

Big pictureSales, profits, and cash kept rising through a wide range of conditions.

Revenue increased from $7.09 billion in fiscal 2020 to $11.26 billion in fiscal 2026, about 8.0% annually, while net income rose from $876 million to $2.00 billion, about 14.8% annually. Fiscal 2026 operating cash was $2.28 billion and capital spending was $395 million, leaving $1.88 billion; fiscal 2025 left $1.76 billion. The model also endured stress: fiscal 2020-2021 revenue was nearly flat, yet operating cash increased. Still, uniform and facility routes depend partly on customer locations and worker counts, making growth sensitive to recessions.

Business strengthRecurring route services produce high margins, while debt remains manageable.

Fourth-quarter organic revenue, which excludes acquisitions and currency effects, grew 8.4%; gross profit reached 51.0% of sales and operating profit reached 23.2%. At May 31, cash was $289 million, debt was $2.43 billion, and net debt was about $2.14 billion—less than fiscal 2026 operating cash. Current assets covered current liabilities 1.4 times, although $999 million of debt is due within a year. Cintas spent $952 million on buybacks and $701 million on dividends; shares fell 0.7% despite $128 million of stock-based employee pay.

What could change the storyUniFirst could strengthen the network, but approval and integration risks now matter.

The $5.5 billion UniFirst deal offers the clearest upside and risk. Cintas expects $375 million of yearly cost savings within four years, an earnings benefit by the second full year, and net debt at 1.5 times EBITDA, a rough operating cash-profit measure, at closing. However, UniFirst holders receive $155 cash plus 0.772 Cintas shares, adding debt and dilution; the Federal Trade Commission’s deeper review could delay approval or force concessions. The bull case needs roughly 8% organic growth and delivered savings. Growth below about 6% or delayed savings would make today’s premium harder to defend.

$200.70 price considered

AI: News

Record year and outlookStrong annual results and fresh guidance raised expectations for continued growth and cash generation.

On July 15, 2026, Cintas reported fiscal 2026 revenue of $11.26 billion, up 8.9%, and adjusted earnings per share of $4.94, up 12.3%. Fiscal 2027 guidance called for $12.10-$12.25 billion of revenue and adjusted earnings of $5.36-$5.50 per share. The stock closed 4.4% higher that day and another 7.2% higher the next session. The timing is consistent with investors welcoming the results and outlook, but it does not prove the announcement alone caused those moves.

Merger review intensifiesRegulators requested more evidence on UniFirst, extending uncertainty around Cintas’s largest planned purchase.

On June 11, 2026, UniFirst shareholders approved the merger, but both companies received a second information request from the Federal Trade Commission. That request extends the regulatory waiting period until 30 days after both companies substantially comply, unless modified. Cintas still expected a second-half 2026 closing. Its shares fell 3.1% on June 12 while the broader market rose 0.5%. This relative move suggests concern about delay or concessions, although timing alone cannot establish the cause.

UniFirst deal agreedCintas agreed to buy its closest major rival, promising savings but adding debt and new shares.

On March 11, 2026, Cintas agreed to acquire UniFirst for about $5.5 billion. Each UniFirst share would receive $155 cash and 0.772 Cintas shares. Management estimated $375 million of annual cost savings within four years, an earnings benefit by the second full year, and net leverage of 1.5 times EBITDA at closing. Cintas traded about 1.2% lower in early trading after the announcement. That reaction may reflect the purchase price, integration risk, and dilution, but other market forces could also have contributed.

Revenue

2018

2019

2020

2021

2022

2023

2024

2025

Net income

2018

2019

2020

2021

2022

2023

2024

2025

Free cash flow

2018

2019

2020

2021

2022

2023

2024

2025

Total cash / debt

CashTotal debt

2018

2019

2020

2021

2022

2023

2024

2025

Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue	$10.34B	$9.60B	$8.82B	$7.85B	$7.12B	$7.09B	$6.89B	$6.48B	$5.32B	$4.80B	$4.37B	$4.19B	$4.25B	$4.10B	$3.81B	$3.55B	$3.77B
Gross profit	$5.17B	$4.69B	$4.17B	$3.63B	$3.31B	$3.23B	$3.13B	$2.91B	$2.38B	$2.10B	$1.89B	$1.75B	$1.75B	$1.74B	$1.61B	$1.50B	—
Operating income	$2.36B	$2.07B	$1.80B	$1.59B	$1.39B	$1.16B	$1.13B	$949.8M	$773.7M	$768.9M	$683.6M	$602.7M	$566.0M	$539.6M	$440.3M	$390.8M	$409.1M
EBITDAderived	$2.85B	$2.51B	$2.21B	$1.99B	$1.77B	$1.54B	$1.49B	$1.23B	$970.3M	$934.2M	$836.2M	$750.0M	$745.9M	$733.8M	$633.8M	$584.0M	—
Net income	$1.81B	$1.57B	$1.35B	$1.24B	$1.11B	$876.0M	$885.0M	$842.6M	$480.7M	$693.5M	$430.6M	$374.4M	$315.4M	$297.6M	$247.0M	$215.6M	$226.4M
Basic EPSper diluted share	$4.48	$3.85	$3.30	$11.92	$10.52	$8.36	$8.25	$7.78	$4.49	$6.30	$3.68	$3.08	$2.53	$2.27	$1.68	$1.40	$1.48
Diluted EPSper diluted share	$4.40	$3.79	$3.25	$11.65	$10.24	$8.11	$7.99	$7.56	$4.38	$6.21	$3.63	$3.05	$2.52	$2.27	$1.68	$1.40	$1.48

Review source filings at SEC.gov ↗

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys1$267.1K disclosed value

Sells (SEC code S)8$15.20M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Apr 20, 2026Form 4	TYSOE RONALD WDirector	SellCommon Stock	4.7K	$178.87	$834.6K	22.4K
Jul 30, 2025Form 4/A	TYSOE RONALD WDirector	SellCommon Stock	5.1K	$223.47	$1.14M	21.9K
Jul 30, 2025Form 4	TYSOE RONALD WDirector	SellCommon Stock	5.1K	$223.47	$1.14M	21.9K
Jul 28, 2025Form 4	Schneider Todd M.CEO and Director	SellCommon Stock	17.3K	$220.90	$3.82M	622.7K
Jul 21, 2025Form 4	MUCCI MARTINDirector	BuyCommon Stock	1.2K	$222.55	$267.1K	2.6K

Review ownership filings at SEC.gov ↗

CINTAS CORP (CTAS)

Financial charts

Financial statements

Insider buys & sells