Published 07.17.25

Cintas Corporation Announces Fiscal 2025 Fourth Quarter and Full Year Results

Gross margin for the fourth quarter of fiscal 2025 increased to $1.33 billion compared to $1.22 billion in last year’s fourth quarter, an increase of 9.1%. Gross margin as a percentage of revenue was 49.7% for the fourth quarter of fiscal 2025 compared to 49.2% in last year's fourth quarter, an increase of 50 basis points.

CINCINNATI, July 17, 2025 -- Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2025 fourth quarter ended May 31, 2025. Revenue for the fourth quarter of fiscal 2025 increased to $2.67 billion compared to $2.47 billion in last year’s fourth quarter, an increase of 8.0%. The fourth quarter of fiscal 2025 was negatively impacted by one less workday compared to the fourth quarter of fiscal 2024. On a same workday basis, revenue for the fourth quarter of fiscal 2025 increased 9.6%. The organic revenue growth rate for the quarter, which adjusts for acquisitions, foreign currency exchange rate fluctuations, and workday differences, was 9.0%.

Gross margin for the fourth quarter increased to $1.33 billion compared to $1.22 billion in last year’s quarter, an increase of 9.1%. Gross margin as a percentage of revenue was 49.7% for the quarter compared to 49.2% last year, an increase of 50 basis points.

Operating income for the quarter increased 9.1% to $597.5 million compared to $547.6 million last year. Operating income as a percentage of revenue was 22.4% compared to 22.2% last year.

Net income rose to $448.3 million compared to $414.3 million in last year’s quarter, an increase of 8.2%. The fourth quarter effective tax rate was 22.1% compared to 21.4% last year, primarily impacted by stock-based compensation accounting. Fourth quarter diluted earnings per share (EPS) was $1.09 compared to $1.00 last year, an increase of 9.0%, reflecting the four-for-one stock split on September 11, 2024.

For the full fiscal year ended May 31, 2025, revenue increased to $10.34 billion compared to $9.60 billion for fiscal 2024, an increase of 7.7%. Fiscal 2025 was negatively impacted by two fewer workdays compared to fiscal 2024. On a same workday basis, revenue increased 8.6%. Organic revenue growth for the year was 8.0%.

Operating income for fiscal 2025 increased 14.1% to $2.36 billion compared to $2.07 billion last year. Operating margin was 22.8% versus 21.6% in fiscal 2024. Diluted EPS for fiscal 2025 was $4.40 compared to $3.79 last year, an increase of 16.1%, reflecting the Stock Split.

Cash flow from operating activities increased to $2.17 billion compared to $2.07 billion in fiscal 2024. Capital expenditures totaled $408.9 million, or 4.0% of revenue. Cintas acquired businesses for $232.9 million and paid $611.6 million in dividends, up 15.2% from last year. Under its authorized share buyback program, Cintas repurchased 3.8 million shares at an average price of $179.07, totaling $679.3 million.

Todd M. Schneider, Cintas’ President and Chief Executive Officer, stated, “Our fourth quarter and full year results underscore the enduring strength of the Cintas value proposition. We achieved strong organic revenue growth and set all-time highs in gross margin and operating margin, driven by strategic investments and the dedication of our employee-partners. By staying focused on operational excellence and making thoughtful investments, we continue to position Cintas for long-term success while returning capital to shareholders.”

Mr. Schneider concluded, “As we enter fiscal 2026, we remain focused on delivering unmatched service to our customers, leveraging our distinctive culture, and generating sustainable, long-term results for all our stakeholders.”

For fiscal 2026, revenue is expected to be in the range of $11.00 billion to $11.15 billion, and diluted EPS is expected to be in the range of $4.71 to $4.85. Please note the following regarding guidance:

  • Fiscal 2025 and 2026 have the same number of workdays by year and by quarter.
  • Guidance does not assume any future acquisitions.
  • Guidance assumes constant foreign currency exchange rates.
  • Interest, net, is expected to be approximately $98.0 million in fiscal 2026.
  • The fiscal 2026 effective tax rate is expected to be 20.0%, the same as fiscal 2025.
  • Diluted EPS guidance includes no future share buybacks or significant economic disruptions or downturn.

Cintas

Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index.

Cintas will host a live webcast to review the fiscal 2025 fourth quarter results today at 10:00 a.m. Eastern Time. The webcast will be available on www.Cintas.com. A replay will be available approximately two hours after the live call and will remain available for two weeks.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This Press Release contains forward-looking statements, including our fiscal 2026 full-year guidance. These statements are based on current expectations and speak only as of the date made. Words such as “estimates,” “expects,” “intends,” “will,” and similar expressions identify forward-looking statements. These statements are subject to various risks and uncertainties that could cause actual results to differ materially. Factors include, but are not limited to: operating costs, supply chain constraints, inflation, foreign currency fluctuations, changes in laws, litigation, cybersecurity threats, and global economic conditions. We undertake no obligation to publicly revise or update forward-looking statements except as required by law. More information can be found in our Annual Report on Form 10-K and other filings with the SEC.

For additional information, contact:

Scott A. Garula, Executive Vice President & Chief Financial Officer – 513-972-3867

Jared S. Mattingley, Vice President, Treasurer & Investor Relations – 513-972-4195