Cintas (CTAS) 10-K Summary — Year Ended May 31, 2024
Cintas Corporation reported strong financial results for its most recent fiscal year, with revenue and profitability continuing to grow. The company's operating cash flows provided ample liquidity to support strategic investments and shareholder returns.
Key takeaway
Year ended May 31, 2024 · FY2025 10-K
Cintas Corporation reported strong financial results for its most recent fiscal year, with revenue and profitability continuing to grow. The company's operating cash flows provided ample liquidity to support strategic investments and shareholder returns.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$9.6B
Revenue reported for the fiscal year.
Operating income
$2.1B
Income from operations reported for the year.
Net income
$1.6B
Net income reported for the year.
Operating cash flow
$2.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2021 | $7.1B | n/a |
| May 31, 2022 | $7.9B | +10.4% |
| May 31, 2023 | $8.8B | +12.2% |
| May 31, 2024 | $9.6B | +8.9% |
Business overview
Cintas provides uniforms, facility services, and other business products to a wide range of customers across North America. The company operates in a highly competitive industry and focuses on delivering value through innovative solutions and customer service.
Financial performance
Revenue increased compared to the prior year, driven by organic growth and acquisitions. Operating income and net income also rose, reflecting improved operational efficiency and strong demand.
Material risks
The filing identifies multiple risk factors, including economic downturns, competitive pressures, and supply chain disruptions. These risks could adversely affect the company's financial condition and results.
Liquidity and capital
Operating cash flows remain a significant source of liquidity, used to fund operations, capital expenditures, acquisitions, dividends, and stock repurchases. The company also has access to a revolving credit facility for additional financial flexibility.
What to watch
Monitor the trend in revenue growth, as it is a key indicator of market demand and competitive position.