# Cintas Corporation (CTAS)

> Source: Nexqual · https://nexqual.com/CTAS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Cintas Corporation (CTAS), nexqual.com/CTAS" · informational, not investment advice.

**Price:** USD 224.04 (+1.77% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 220.15 · day 221.31–225.43 · 52w 161.16–225.43 · market cap $89.0B · NMS

## Key facts
- Last four reported quarters (through Aug 31, 2026): revenue $11.6B, net income $2.06B (17.8% margin), free cash flow $2.03B (SEC filings).
- 3 of 80 tracked superinvestors hold CTAS (13F, Q2 2026): 1 new, 1 added, 0 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $3.6M; 3 not under a Rule 10b5-1 plan ($3.6M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.45 on a 1–5 scale) (20 analysts), mean target USD 218.31 (range 181–250).
- Total return with dividends: 1Y +17.6% vs S&P 500 +14.9%; 5Y +120.0% vs S&P 500 +80.3%.
- Next earnings: 2026-12-17, EPS estimate USD 1.36, revenue estimate $3.03B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $7.85B | $8.82B | $9.60B | $10.3B | $11.3B | $11.6B |
| Gross profit | $3.63B | $4.17B | $4.69B | $5.17B | $5.71B | — |
| Operating income | $1.59B | $1.80B | $2.07B | $2.36B | $2.61B | $2.70B |
| Net income | $1.24B | $1.35B | $1.57B | $1.81B | $2.00B | $2.06B |
| EPS (diluted) | $2.91 | $3.25 | $3.79 | $4.40 | $4.91 | — |
| Free cash flow | $1.30B | $1.26B | $1.66B | $1.76B | $1.88B | $2.03B |
| Gross margin | 46.2% | 47.3% | 48.8% | 50.0% | 50.7% | — |
| Operating margin | 20.2% | 20.4% | 21.6% | 22.8% | 23.1% | 23.4% |
| Net margin | 15.7% | 15.3% | 16.4% | 17.5% | 17.8% | 17.8% |
| Revenue growth | +10.4% | +12.2% | +8.9% | +7.7% | +8.9% | — |
| Cash + short-term investments | $90.5M | $124M | $342M | $264M | $289M | — |
| Total debt | $2.80B | $2.49B | $2.48B | $2.42B | $2.43B | — |
Fiscal years end May. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 31, 2026)

P/E at fiscal year-ends: May 2026 34.8x, May 2025 51.3x, May 2024 44.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold CTAS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Jensen Investment Management |  | 1.38% | $56.7M | New position |
| Mairs & Power | Mairs & Power Funds | 0.04% | $4.6M | Added +21.5% |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $306K | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-22 | Tysoe Ronald W | Director | 4,363 | $872K | 16.3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-16 | Barstad Melanie W. | Director | 9,142 | $1.9M | 25.6% | No | Too little history (no open-market trades in 2024 or 2025) |
| 2026-04-20 | Tysoe Ronald W | Director | 4,666 | $835K | 17.2% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.45 on a 1–5 scale), 20 analysts; mean target USD 218.31 (low 181, high 250).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | Citigroup | Target raised | Sell | $180 → $181 |
| 2026-09-29 | Argus Research | Target raised | Buy | $230 → $240 |
| 2026-09-24 | UBS | Target raised | Buy | $230 → $235 |
| 2026-09-24 | Baird | Target raised | Outperform | $214 → $222 |
| 2026-09-24 | Truist Securities | Target raised | Buy | $225 → $230 |
| 2026-09-24 | RBC Capital | Reiterated | Sector Perform | $206 |
| 2026-09-22 | Citigroup | Target raised | Sell | $175 → $180 |
| 2026-07-17 | Argus Research | Target raised | Buy | $220 → $230 |
| 2026-07-16 | UBS | Target raised | Buy | $228 → $230 |
| 2026-07-16 | Wells Fargo | Target raised | Overweight | $245 → $250 |
| 2026-07-16 | RBC Capital | Reiterated | Sector Perform | $206 |
| 2026-07-16 | Baird | Target raised | Outperform | $200 → $214 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +17.6% | +120.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +17.7% | +17.0% |
| Volatility (annualized) | 23.2% | 23.8% |
| Max drawdown | -20.0% (Mar 2026→May 2026) | -26.7% (Jun 2025→Mar 2026) |

## Peers (Specialty Business Services)
RELX (RELX PLC PLC) USD 40.62 +3.81% · TRI (Thomson Reuters Corp) USD 123.26 +6.94% · CPRT (Copart, Inc.) USD 29.09 +5.44% · GPN (Global Payments Inc.) USD 85.88 +2.81% · RBA (RB Global, Inc.) USD 84.39 +2.91% · ULS (UL Solutions Inc.) USD 73.63 -0.88%

## More
Full page: https://nexqual.com/CTAS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CTAS's own 10-K filed 2026-07-29 (https://www.sec.gov/Archives/edgar/data/723254/000072325426000028/ctas-20260531.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | UNIFIRST CORP (UNF) | "The integration of UniFirst's business into our operations will be a complex, costly and time-consuming process and may result in significant challenges, including the diversion of management's attention from ongoing bus…" |
| Supplier | SAP (SAP) | "In addition, we rely on software applications, enterprise cloud storage systems and cloud computing services provided by third-party vendors for certain information technology services, including our SAP enterprise syste…" |

## Revenue by business segment (quarter ended 2026-08-31)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Uniform Rental and Facility Services | $2.29B | 76.1% | +9.7% | $575.1M | 25.1% |
| First Aid and Safety Services | $388.5M | 12.9% | +16.1% | $99.5M | 25.6% |
| All Other | $330.7M | 11.0% | +13.1% | $51.7M | 15.6% |
| — Fire Protection Services (part of All Other) | $252.3M | 8.4% | +13.7% | — | — |
| — Uniform Direct Sales (part of All Other) | $78.4M | 2.6% | +11.3% | — | — |
| Corporate costs (not allocated) | — | — | — | -$14.4M | — |
| Total revenue | $3.01B | 100% | — | $711.9M | 23.6% |

## Revenue by product line (quarter ended 2026-08-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Uniform Rental and Facility Services | $2.29B | 76.1% | +9.7% |
| Other | $719.2M | 23.9% | +14.7% |
| Total revenue | $3.01B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-11-30) | $1.36 | $1.36 | +0.1% | $3.03B | 14 |
| Next quarter (ends 2027-02-28) | $1.34 | $1.37 | -1.9% | $3.03B | 14 |
| Current fiscal year (ends 2027-05-31) | $5.54 | $5.43 | +2.0% | $12.25B | 18 |
| Next fiscal year (ends 2028-05-31) | $6.16 | $6.05 | +1.8% | $13.17B | 18 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-12-17): ±8.7%; earnings reaction alone ±4.5%; last 8 reports averaged ±4.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 21.7% | ±2.6% |
| 2026-11-06 | 14 | 23.2% | ±3.8% |
| 2026-11-13 | 21 | 23.1% | ±4.5% |
| 2026-11-20 | 28 | 23.3% | ±5.3% |
| 2026-11-27 | 35 | 23.5% | ±5.9% |
| 2026-12-04 | 42 | 23.4% | ±6.4% |
| 2026-12-18 | 56 | 27.3% | ±8.7% |
| 2027-01-15 | 84 | 24.7% | ±9.6% |