Cintas Corp 8-K, filed Jul 17, 2025

Cintas Corp (CTAS)

8-K 2025-07-17 For: 2025-07-17

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Added on April 12, 2026

About this 8-K

Cintas Corp filed this 8-K on July 17, 2025.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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6800 Cintas Boulevard, P.O. Box 625737,
Cincinnati,	Ohio	45262-5737
(Address of Principal Executive Offices)		(Zip Code)


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


			Exhibit Number						Description
			99						Press release dated July 17, 2025
			104						Cover Page Interactive Data File (embedded within the Inline XBRL document)


	Three Months Ended
	May 31, 2025		May 31, 2024		% Change
Revenue:
Uniform rental and facility services	$	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 facility services	1,036,013		983,049		5.4%
Cost of other	305,650		272,437		12.2%
Selling and administrative expenses	728,537		667,855		9.1%

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 shares outstanding	403,412		406,179
Diluted weighted average common shares outstanding	409,685		413,328


	Twelve Months Ended
	May 31, 2025		May 31, 2024		% Change
Revenue:
Uniform rental and facility services	$	7,976,073	$	7,465,199	6.8%
Other	2,364,108		2,131,416		10.9%
Total revenue	10,340,181		9,596,615		7.7%

Costs and expenses:
Cost of uniform rental and facility services	4,040,888		3,865,071		4.5%
Cost of other	1,125,129		1,045,128		7.7%
Selling and administrative expenses	2,814,438		2,617,783		7.5%

Operating income	2,359,726		2,068,633		14.1%



Interest income	(5,584)		(5,742)		(2.8)%
Interest expense	101,108		100,740		0.4%

Income before income taxes	2,264,202		1,973,635		14.7%
Income taxes	451,921		402,043		12.4%


Net income	$	1,812,281	$	1,571,592	15.3%




Basic earnings per share	$	4.48	$	3.85	16.4%




Diluted earnings per share	$	4.40	$	3.79	16.1%

Basic weighted average common shares outstanding	403,530		406,612
Diluted weighted average common shares outstanding	410,286		413,468


	Twelve Months Ended
(In thousands)	May 31, 2025		May 31, 2024

Net cash provided by operations	$	2,165,905	$	2,068,500
Capital expenditures	(408,884)		(409,469)
Free cash flow	$	1,757,021	$	1,659,031


(In thousands)	Uniform Rental and Facility Services		First Aid and Safety Services		All Other		Total
For the three months ended May 31, 2025
Revenue	$	2,030,680	$	324,397	$	312,575	$	2,667,652
Cost of sales	1,036,013		140,208		165,442		1,341,663
Gross margin	994,667		184,189		147,133		1,325,989
Selling and administrative expenses	529,558		107,505		91,474		728,537
Operating income	$	465,109	$	76,684	$	55,659	$	597,452

For the three months ended May 31, 2024
Revenue	$	1,911,190	$	277,638	$	282,107	$	2,470,935
Cost of sales	983,049		123,806		148,631		1,255,486
Gross margin	928,141		153,832		133,476		1,215,449
Selling and administrative expenses	495,187		90,507		82,161		667,855
Operating income	$	432,954	$	63,325	$	51,315	$	547,594

For the twelve months ended May 31, 2025
Revenue	$	7,976,073	$	1,218,090	$	1,146,018	$	10,340,181
Cost of sales	4,040,888		521,480		603,649		5,166,017
Gross margin	3,935,185		696,610		542,369		5,174,164
Selling and administrative expenses	2,061,795		401,882		350,761		2,814,438
Operating income	$	1,873,390	$	294,728	$	191,608	$	2,359,726

For the twelve months ended May 31, 2024
Revenue	$	7,465,199	$	1,067,334	$	1,064,082	$	9,596,615
Cost of sales	3,865,071		474,678		570,450		4,910,199
Gross margin	3,600,128		592,656		493,632		4,686,416
Selling and administrative expenses	1,940,627		353,503		323,653		2,617,783
Operating income	$	1,659,501	$	239,153	$	169,979	$	2,068,633


	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 service	1,137,361		1,040,144

Prepaid expenses and other current assets	170,046		148,665
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, net	224,383		187,953
Other assets, net	462,642		424,951
	$	9,825,241	$	9,168,817

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	485,109	$	339,166
Accrued compensation and related liabilities	229,538		214,130
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	—		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: 100 shares authorized, none outstanding	—		—
Common stock, no par value, and paid-in capital: 1,700,000 shares authorized FY 2025: 776,936 issued and 402,948 outstanding FY 2024: 773,097 issued and 405,008 outstanding	2,593,479		2,305,301

Retained earnings	11,798,451		10,617,955
Treasury stock: FY 2025: 373,988 shares FY 2024: 368,089 shares	(9,791,838)		(8,698,085)
Accumulated other comprehensive income	84,389		91,201
Total shareholders’ equity	4,684,481		4,316,372
	$	9,825,241	$	9,168,817


	Twelve Months Ended
	May 31, 2025		May 31, 2024
Cash flows from operating activities:
Net income	$	1,812,281	$	1,571,592

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	303,377		280,866
Amortization of intangible assets and capitalized contract costs	190,806		176,004
Stock-based compensation	128,329		116,986
Gain on sale of property and equipment	(19,341)		—
Deferred income taxes	(5,807)		(28,912)
Change in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	(174,141)		(91,399)
Inventories, net	(33,947)		95,766
Uniforms and other rental items in service	(93,646)		(22,815)
Prepaid expenses and other current assets and capitalized contract costs	(180,840)		(143,441)
Accounts payable	143,973		36,896
Accrued compensation and related liabilities	17,769		(27,013)
Accrued liabilities and other	92,397		97,750
Income taxes, current	(15,305)		6,220
Net cash provided by operating activities	2,165,905		2,068,500

Cash flows from investing activities:
Capital expenditures	(408,884)		(409,469)

Purchases of investments	(7,196)		(7,546)
Proceeds from sale of property and equipment	23,972		—

Acquisitions of businesses, net of cash acquired	(232,899)		(186,837)
Other, net	1,369		518
Net cash used in investing activities	(623,638)		(603,334)

Cash flows from financing activities:

Proceeds from issuance of debt, net	398,088		—
Debt issuance costs	(1,165)		—
Repayment of debt	(450,000)		(13,450)
Proceeds from exercise of stock-based compensation awards	896		1,370
Dividends paid	(611,627)		(530,909)