# Cintas Corporation (CTAS) – Nasdaq – Q4 2025 Results
Cintas Corporation reported its fiscal 2025 fourth quarter results on July 17, 2025. The results reveal notable financial growth across several key metrics compared to the same quarter of the previous fiscal year. Here’s a summary of the performance:
### Financial Highlights for Q4 FY2025
– **Revenue**: Increased to **$2.67 billion**, an **8.0%** growth compared to **$2.47 billion** in Q4 FY2024.
– Adjusted for workdays, the revenue growth would have been **9.6%**.
– The organic revenue growth rate stood at **9.0%** after adjustments for acquisitions and currency fluctuations.
– **Gross Margin**: Rose to **$1.33 billion**, up **9.1%** from **$1.22 billion** in Q4 FY2024.
– Gross margin percentage of revenue increased to **49.7%**, up from **49.2%**.
– **Operating Income**: Increased to **$597.5 million**, also a **9.1%** rise from **$547.6 million** in the last year’s quarter.
– Operating income as a percentage of revenue increased to **22.4%**, up from **22.2%**.
– **Net Income**: Achieved **$448.3 million**, representing an **8.2%** increase from **$414.3 million** in Q4 FY2024.
– The effective tax rate for Q4 FY2025 was **22.1%**, compared to **21.4%** in Q4 FY2024.
– **Diluted Earnings Per Share (EPS)**: Increased to **$1.09**, a **9.0%** increase over **$1.00** from the previous year.
– This figure reflects the impact of a stock split in September 2024.
### Annual Results for FY2025
– **Total Revenue**: For the full fiscal year ending May 31, 2025, revenue grew to **$10.34 billion**, an increase of **7.7%** from **$9.60 billion** in FY2024.
– On a same-workday basis, annual revenue growth was **8.6%**.
– The organic revenue growth rate for the fiscal year was recorded at **8.0%**.
– **Operating Income**: Increased to **$2.36 billion**, up **14.1%** from **$2.07 billion** in FY2024.
– As a percentage of revenue, operating income improved to **22.8%**, from **21.6%**.
– **Net Income**: Totaled **$1.81 billion**, reflecting a **15.3%** increase compared to **$1.57 billion** in the prior year.
– **Diluted EPS**: For FY2025, EPS increased to **$4.40**, marking a **16.1%** growth from **$3.79** in FY2024.
### Additional Key Information
– **Cash Flow from Operating Activities**: Rose to **$2.17 billion**, compared to **$2.07 billion** in FY2024.
– **Capital Expenditures**: Totaled **$408.9 million**, making up **4.0%** of revenue.
– **Dividends**: Cintas declared cash dividends totaling **$611.6 million**, which is an increase of **15.2%** over fiscal 2024.
– **Share Repurchases**: During FY2025, Cintas repurchased **3.8 million shares** for a total of **$679.3 million** at an average price of **$179.07** per share.
### Looking Ahead
For fiscal 2026, Cintas forecasts:
– **Revenue**: Expected to be between **$11.00 billion** and **$11.15 billion**.
– **Diluted EPS**: Projected to be between **$4.71** and **$4.85**.
Cintas maintained that both fiscal years 2025 and 2026 will have the same number of workdays, and the guidance does not account for potential acquisitions.
This quarter demonstrated robust growth, as highlighted by increased revenue, net income, and EPS amidst challenging workday comparisons. The company continues to focus on strategic investments and maintaining operational excellence, ensuring a compelling value proposition for shareholders.
### Cintas Corporation Consolidated Condensed Statements of Income
_(In thousands except per share data)_
| May 31, 2025 | May 31, 2024 | % Change | |
|---|---|---|---|
| Revenue: | |||
| Uniform rental and facility | $2,030,680 | $1,911,190 | 6.3% |
| Other | $636,972 | $559,745 | 13.8% |
| Total revenue | $2,667,652 | $2,470,935 | 8.0% |
| Costs and expenses: | |||
| Cost of uniform rental and | $1,036,013 | $983,049 | 5.4% |
| facility services | |||
| Cost of other | $305,650 | $272,437 | 12.2% |
| Selling and administrative | $728,537 | $667,855 | 9.1% |
| expenses | |||
| Operating income | $597,452 | $547,594 | 9.1% |
| Interest income | -$2,023 | -$3,621 | (44.1)% |
| Interest expense | $24,060 | $24,076 | (0.1)% |
| Income before income taxes | $575,415 | $527,139 | 9.2% |
| Income taxes | $127,159 | $112,824 | 12.7% |
| Net income | $448,256 | $414,315 | 8.2% |
| Basic earnings per share | $1.11 | $1.02 | 8.8% |
| Diluted earnings per share | $1.09 | $1.00 | 9.0% |
| Basic weighted average common | 403,412 | 406,179 | |
| shares outstanding | |||
| Diluted weighted average common | 409,685 | 413,328 | |
| shares outstanding |
—
### Cintas Corporation Consolidated Condensed Balance Sheets
_(In thousands)_
| May 31, 2025 | May 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $263,973 | $342,015 |
| Accounts receivable, net | $1,417,381 | $1,244,182 |
| Inventories, net | $447,408 | $410,201 |
| Uniforms and other rental items in | $1,137,361 | $1,040,144 |
| service | ||
| Prepaid expenses and other current | $170,046 | $148,665 |
| assets | ||
| Total current assets | $3,436,169 | $3,185,207 |
| Property and equipment, net | $1,652,474 | $1,534,168 |
| Investments | $339,518 | $302,212 |
| Goodwill | $3,400,227 | $3,212,424 |
| Service contracts, net | $309,828 | $321,902 |
| Operating lease right-of-use assets, | $224,383 | $187,953 |
| net | ||
| Other assets, net | $462,642 | $424,951 |
| TOTAL ASSETS | $9,825,241 | $9,168,817 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $485,109 | $339,166 |
| Accrued compensation and related | $229,538 | $214,130 |
| liabilities | ||
| Accrued liabilities | $875,077 | $761,283 |
| Income taxes, current | $4,034 | $18,618 |
| Operating lease liabilities, current | $50,744 | $45,727 |
| Debt due within one year | $0 | $449,595 |
| Total current liabilities | $1,644,502 | $1,828,519 |
| Long-term liabilities: | ||
| Debt due after one year | $2,424,999 | $2,025,934 |
| Deferred income taxes | $471,740 | $475,512 |
| Operating lease liabilities | $178,738 | $146,824 |
| Accrued liabilities | $420,781 | $375,656 |
| Total long-term liabilities | $3,496,258 | $3,023,926 |
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock, no par value: | $0 | $0 |
| Common stock, no par value, | ||
| and paid-in capital: | $2,593,479 | $2,305,301 |
| Retained earnings | $11,798,451 | $10,617,955 |
| Treasury stock: | $-9,791,838 | $-8,698,085 |
| Accumulated other comprehensive income | $84,389 | $91,201 |
| Total shareholders’ equity | $4,684,481 | $4,316,372 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $9,825,241 | $9,168,817 |
