$CTAS

CINTAS CORP

CIK:0000723254|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	May 31, 2026	May 31, 2025	May 31, 2024
Revenue:
Revenue	$ 11,264,761	$ 10,340,181	$ 9,596,615
Costs and expenses:
Cost of sales	5,556,968	5,166,017	4,910,199
Selling and administrative expenses	3,086,145	2,814,438	2,617,783
UniFirst Corporation transaction expenses	15,136	0	0
Operating income	2,606,512	2,359,726	2,068,633
Interest income	(5,107)	(5,584)	(5,742)
Interest expense	106,285	101,108	100,740
Income before income taxes	2,505,334	2,264,202	1,973,635
Income taxes	505,366	451,921	402,043
Net income	$ 1,999,968	$ 1,812,281	$ 1,571,592
Basic earnings per share (in dollars per share)	$ 4.97	$ 4.48	$ 3.85
Diluted earnings per share (in dollars per share)	4.91	4.40	3.79
Dividends declared and paid per share (in dollars per share)	$ 1.80	$ 1.56	$ 1.35
Uniform rental and facility services
Revenue:
Revenue	$ 8,621,624	$ 7,976,073	$ 7,465,199
Costs and expenses:
Cost of sales	4,312,097	4,040,888	3,865,071
Other
Revenue:
Revenue	2,643,137	2,364,108	2,131,416
Costs and expenses:
Cost of sales	$ 1,244,871	$ 1,125,129	$ 1,045,128

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Cash flows from operating activities:
Net income	$ 1,999,968	$ 1,812,281	$ 1,571,592
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	318,637	303,377	280,866
Amortization of intangible assets and capitalized contract costs	194,209	190,806	176,004
Stock-based compensation	128,076	128,329	116,986
Gain on sale of property and equipment	0	(19,341)	0
Deferred income taxes	58,092	(5,807)	(28,912)
Change in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	(135,216)	(174,141)	(91,399)
Inventories, net	2,273	(33,947)	95,766
Uniforms and other rental items in service	(137,612)	(93,646)	(22,815)
Prepaid expenses and other current assets and capitalized contract costs	(174,033)	(180,840)	(143,441)
Accounts payable	(24,102)	143,973	36,896
Accrued compensation and related liabilities	7,185	17,769	(27,013)
Accrued liabilities and other	(371)	92,397	97,750
Income taxes, current	39,174	(15,305)	6,220
Net cash provided by operating activities	2,276,280	2,165,905	2,068,500
Cash flows from investing activities:
Capital expenditures	(395,105)	(408,884)	(409,469)
Purchases of investments	(8,252)	(7,196)	(7,546)
Proceeds from sale of property and equipment	0	23,972	0
Acquisitions of businesses, net of cash acquired	(164,548)	(232,899)	(186,837)
Other, net	(523)	1,369	518
Net cash used in investing activities	(568,428)	(623,638)	(603,334)
Cash flows from financing activities:
Proceeds from issuance of debt	0	398,088	0
Debt issuance costs	(7,277)	(1,165)	0
Repayment of debt	0	(450,000)	(13,450)
Proceeds from exercise of stock-based compensation awards	3,808	896	1,370
Dividends paid	(701,485)	(611,627)	(530,909)
Repurchase of common stock	(952,104)	(934,800)	(700,033)
Other, net	(25,014)	(20,403)	(4,484)
Net cash used in financing activities	(1,682,072)	(1,619,011)	(1,247,506)
Effect of exchange rate changes on cash and cash equivalents	(735)	(1,298)	206
Net increase (decrease) in cash and cash equivalents	25,045	(78,042)	217,866
Cash and cash equivalents at beginning of year	263,973	342,015	124,149
Cash and cash equivalents at end of year	$ 289,018	$ 263,973	$ 342,015

Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2026	May 31, 2025
Current assets:
Cash and cash equivalents	$ 289,018	$ 263,973
Accounts receivable, principally trade, less allowance of $31,648 and $26,357, respectively	1,555,190	1,417,381
Inventories, net	446,435	447,408
Uniforms and other rental items in service	1,276,174	1,137,361
Prepaid expenses and other current assets	286,225	170,046
Total current assets	3,853,042	3,436,169
Property and equipment, net	1,740,501	1,652,474
Investments	438,662	339,518
Goodwill	3,544,212	3,400,227
Service contracts, net	287,869	309,828
Operating lease right-of-use assets, net	271,088	224,383
Other assets, net	393,766	462,642
Total assets	10,529,140	9,825,241
Current liabilities:
Accounts payable	461,157	485,109
Accrued compensation and related liabilities	237,042	229,538
Accrued liabilities	889,198	875,077
Income taxes, current	44,070	4,034
Operating lease liabilities, current	56,505	50,744
Debt due within one year	998,987	0
Total current liabilities	2,686,959	1,644,502
Long-term liabilities:
Debt due after one year	1,429,086	2,424,999
Deferred income taxes	537,919	471,740
Operating lease liabilities	221,379	178,738
Accrued liabilities	513,910	420,781
Total long-term liabilities	2,702,294	3,496,258
Shareholders' equity:
Preferred stock, no par value: 100 shares authorized, none outstanding	0	0
Common stock, no par value, and paid-in capital: 1,700,000 shares authorized 2026: 779,537 shares issued and 400,147 shares outstanding 2025: 776,936 shares issued and 402,948 shares outstanding	2,851,129	2,593,479
Retained earnings	13,073,999	11,798,451
Treasury stock: 2026: 379,390 shares 2025: 373,988 shares	(10,869,708)	(9,791,838)
Accumulated other comprehensive income	84,467	84,389
Total shareholders' equity	5,139,887	4,684,481
Total liabilities and shareholders' equity	$ 10,529,140	$ 9,825,241