$CTAS

CINTAS CORP

CIK:0000723254|SEC Filings

CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2026	Aug. 31, 2025
Revenue:
Total revenue	$ 3,013,981	$ 2,718,122
Costs and expenses:
Cost of revenue	1,460,438	1,351,561
Selling and administrative expenses	827,244	748,702
UniFirst Corporation transaction expenses	14,412	0
Operating income	711,887	617,859
Interest income	(2,649)	(2,209)
Interest expense	24,706	24,161
Income before income taxes	689,830	595,907
Income taxes	138,119	104,767
Net income	$ 551,711	$ 491,140
Basic earnings per share (in dollars per share)	$ 1.37	$ 1.21
Diluted earnings per share (in dollars per share)	1.36	1.20
Dividends declared per share (in dollars per share)	$ 0.52	$ 0.45
Uniform Rental and Facility Services
Revenue:
Total revenue	$ 2,294,736	$ 2,091,066
Costs and expenses:
Cost of revenue	1,128,884	1,052,553
Other
Revenue:
Total revenue	719,245	627,056
Costs and expenses:
Cost of revenue	$ 331,554	$ 299,008

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2026	Aug. 31, 2025
Cash flows from operating activities:
Net income	$ 551,711	$ 491,140
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	78,918	77,589
Amortization	48,408	48,348
Stock-based compensation	31,047	30,348
Deferred income taxes	9,132	13,496
Change in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	(32,734)	(3,635)
Inventories, net	12,817	(2,398)
Uniforms and other rental items in service	(33,880)	(34,760)
Prepaid expenses and other current assets and capitalized contract costs	(108,897)	(62,382)
Accounts payable	46,486	(22,501)
Accrued compensation and related liabilities	(77,801)	(94,275)
Accrued liabilities and other	(49,338)	(101,114)
Income taxes, current	96,462	74,625
Net cash provided by operating activities	572,331	414,481
Cash flows from investing activities:
Capital expenditures	(107,532)	(101,957)
Purchases of investments	(7,179)	(6,538)
Acquisitions of businesses, net of cash acquired	(3,916)	(7,602)
Other, net	1,260	(130)
Net cash used in investing activities	(117,367)	(116,227)
Cash flows from financing activities:
Proceeds from exercise of stock-based compensation awards	159	2,669
Dividends paid	(180,700)	(157,766)
Repurchase of common stock	(315,710)	(266,097)
Other, net	(3,917)	(2,807)
Net cash used in financing activities	(500,168)	(424,001)
Effect of exchange rate changes on cash and cash equivalents	(215)	(83)
Net decrease in cash and cash equivalents	(45,419)	(125,830)
Cash and cash equivalents at beginning of period	289,018	263,973
Cash and cash equivalents at end of period	$ 243,599	$ 138,143

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 31, 2026	May 31, 2026
Current assets:
Cash and cash equivalents	$ 243,599	$ 289,018
Accounts receivable, net	1,587,573	1,555,190
Inventories, net	433,286	446,435
Uniforms and other rental items in service	1,309,995	1,276,174
Prepaid expenses and other current assets	357,292	286,225
Total current assets	3,931,745	3,853,042
Property and equipment, net	1,768,378	1,740,501
Investments	448,875	438,662
Goodwill	3,548,696	3,544,212
Service contracts, net	272,972	287,869
Operating lease right-of-use assets, net	274,590	271,088
Other assets, net	407,479	393,766
Total assets	10,652,735	10,529,140
Current liabilities:
Accounts payable	506,502	461,157
Accrued compensation and related liabilities	159,159	237,042
Accrued liabilities	841,215	889,198
Income taxes, current	140,129	44,070
Operating lease liabilities, current	58,370	56,505
Total debt due within one year	999,291	998,987
Total current liabilities	2,704,666	2,686,959
Long-term liabilities:
Debt due after one year	1,429,554	1,429,086
Deferred income taxes	548,906	537,919
Operating lease liabilities	224,159	221,379
Accrued liabilities	540,918	513,910
Total long-term liabilities	2,743,537	2,702,294
Shareholders’ equity:
Preferred stock	0	0
Common stock	2,931,963	2,851,129
Retained earnings	13,416,890	13,073,999
Treasury stock	(11,235,046)	(10,869,708)
Accumulated other comprehensive income	90,725	84,467
Total shareholders’ equity	5,204,532	5,139,887
Total liabilities and shareholders' equity	$ 10,652,735	$ 10,529,140