CINTAS CORP
CTAS · Men's & Boys' Furnishgs, Work Clothg, & Allied Garments · 400.1M shares · +39%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $295M (gross $399M, SBC $104M)
Reference price $178.87 · est. market cap ~$71.6B — last insider sale, 2026-04-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A88Best-in-class uniform-rental compounder with elite margins, returns, and recurring free cash flow.
Strengths
- Elite profitability and returns — operating margin 22.8% (86th), ROE 38.7% (87th), ROA 18.4% (93rd)
- Strong recurring free cash flow — FCF $1.76B (91st), FCF margin 17.0%
- Steady growth — revenue +7.7%, net income +15.3%
Risks
- Moderate leverage — D/E 0.52 (64th)
- Tied to employment/business activity levels — qualitative (per 10-K)
- Premium valuation — qualitative (per 10-K)
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +39%/yr over 4y (dilution, book value/share -66%)
- Customer concentration~100% of revenue from one customer/distributor — 0% 100
- Strong balance sheetStrong balance sheet — $264M cash & investments
- New fund positionNotable fund(s) opened this quarter: Bridgewater Associates, LP
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 1 open-market sale(s) by 1 insider(s) (~$834,607, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
50.0%
Operating margin
22.8%
Net margin
17.5%
Return on equity
38.7%
Return on assets
18.4%
ROIC
26.2%
Revenue growth (QoQ)
1.5%
Net-income growth
15.3%
Debt / equity
0.5×
Net debt / EBITDA
0.8×
Current ratio
2.1×
Free cash flow
$1.8B
EBITDA
$2.9B
Tangible book value
$590M
Cash & investments
$264M
Stock comp / revenue
1.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-20 | TYSOE RONALD W | Tax withheld | 834 | $178.83 |
| 2026-04-20 | TYSOE RONALD W | Option exercise | 5.5K | $27.10 |
| 2026-04-20 | TYSOE RONALD W | Sell | 4.7K | $178.87 |
| 2026-04-09 | Coletti Robert E. | Option exercise | 2.0K | $26.86 |
| 2026-04-09 | Coletti Robert E. | Option exercise | 11K | $27.10 |
| 2026-01-28 | Coletti Robert E. | Gift | 5.2K | — |
| 2026-01-28 | FARMER SCOTT D | Gift | 10K | — |
| 2025-12-23 | Coletti Robert E. | Other | 546K | — |
| 2025-12-23 | Coletti Robert E. | Gift | 14K | — |
| 2025-12-23 | FARMER SCOTT D | Other | 1.6M | — |
| 2025-12-23 | FARMER SCOTT D | Gift | 29K | — |
| 2025-10-29 | TYSOE RONALD W | Grant | 503 | — |
| 2025-10-29 | MUCCI MARTIN | Grant | 503 | — |
| 2025-10-29 | SCAMINACE JOSEPH | Grant | 503 | — |
| 2025-10-29 | Coletti Robert E. | Grant | 503 | — |
| 2025-10-29 | CARNAHAN KAREN L | Grant | 503 | — |
| 2025-10-29 | Carmichael Beverly K | Grant | 503 | — |
| 2025-10-29 | Barstad Melanie W. | Grant | 503 | — |
| 2025-08-11 | FARMER SCOTT D | Grant | 976 | $223.88 |
| 2025-08-11 | Denton David Brock | Grant | 4.6K | $223.88 |
| 2025-08-11 | Rozakis Jim | Grant | 6.9K | $223.88 |
| 2025-08-11 | Rozakis Jim | Option exercise | 17K | $97.22 |
| 2025-08-11 | Rozakis Jim | Tax withheld | 12K | $223.77 |
| 2025-08-11 | Rozakis Jim | Option exercise | 14K | $99.46 |
| 2025-08-11 | Rozakis Jim | Tax withheld | 9.6K | $223.77 |
| 2025-08-11 | Rozakis Jim | Option exercise | 6.9K | $61.99 |
| 2025-08-11 | Rozakis Jim | Tax withheld | 4.1K | $223.70 |
| 2025-08-11 | Rozakis Jim | Option exercise | 8.3K | $73.39 |
| 2025-08-11 | Rozakis Jim | Tax withheld | 5.2K | $223.68 |
| 2025-08-11 | Schneider Todd M. | Grant | 46K | $223.88 |
| 2025-08-11 | Garula Scott | Grant | 4.4K | $223.88 |
| 2025-07-30 | TYSOE RONALD W | Sell | 5.1K | $223.47 |
| 2025-07-30 | TYSOE RONALD W | Sell | 5.1K | $223.47 |
| 2025-07-28 | Schneider Todd M. | Tax withheld | 19K | $221.12 |
| 2025-07-28 | Schneider Todd M. | Option exercise | 8.2K | $97.22 |
| 2025-07-28 | Schneider Todd M. | Tax withheld | 5.7K | $221.20 |
| 2025-07-28 | Schneider Todd M. | Option exercise | 16K | $73.39 |
| 2025-07-28 | Schneider Todd M. | Tax withheld | 10K | $221.48 |
| 2025-07-28 | Schneider Todd M. | Sell | 17K | $220.90 |
| 2025-07-28 | Schneider Todd M. | Option exercise | 28K | $97.22 |
| 2025-07-25 | Schneider Todd M. | Tax withheld | 38K | $223.56 |
| 2025-07-25 | Denton David Brock | Tax withheld | 3.7K | $223.56 |
| 2025-07-25 | Rozakis Jim | Tax withheld | 3.9K | $223.56 |
| 2025-07-25 | Garula Scott | Tax withheld | 3.0K | $223.56 |
| 2025-07-25 | FARMER SCOTT D | Tax withheld | 17K | $223.56 |
| 2025-07-21 | MUCCI MARTIN | Buy | 1.2K | $222.55 |
| 2025-04-14 | TYSOE RONALD W | Option exercise | 9.6K | $22.67 |
| 2025-04-14 | TYSOE RONALD W | Tax withheld | 1.0K | $208.67 |
| 2025-04-14 | TYSOE RONALD W | Sell | 8.5K | $208.96 |
| 2025-04-07 | Rozakis Jim | Sell | 2.0K | $190.37 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-12 | Other | filing ↗ |
| 2026-03-31 | Material agreement1.02Debt obligationExhibits | filing ↗ |
| 2026-03-25 | ResultsExhibits | filing ↗ |
| 2026-03-11 | Material agreementReg FDOtherExhibits | filing ↗ |
| 2025-12-22 | OtherExhibits | filing ↗ |
| 2025-12-18 | ResultsExhibits | filing ↗ |
| 2025-10-31 | Shareholder vote | filing ↗ |
| 2025-09-24 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-12 | 2026-06-11 | 0000950103-26-008890 ↗ |
| 10-Q | 2026-04-07 | 2026-02-28 | 0000723254-26-000012 ↗ |
| 8-K | 2026-03-31 | 2026-03-27 | 0000723254-26-000010 ↗ |
| 8-K | 2026-03-25 | 2026-03-25 | 0000723254-26-000006 ↗ |
| 8-K | 2026-03-11 | 2026-03-10 | 0000950103-26-003567 ↗ |
| 10-Q | 2026-01-07 | 2025-11-30 | 0000723254-26-000002 ↗ |
| 8-K | 2025-12-22 | 2025-12-22 | 0000950103-25-016413 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0000723254-25-000038 ↗ |
| 8-K | 2025-10-31 | 2025-10-28 | 0000723254-25-000035 ↗ |
| 10-Q | 2025-10-08 | 2025-08-31 | 0000723254-25-000033 ↗ |
| 8-K | 2025-09-24 | 2025-09-24 | 0000723254-25-000029 ↗ |
| 10-K | 2025-07-28 | 2025-05-31 | 0000723254-25-000017 ↗ |