NASDAQ · CTAS

Cintas Corporation

Industrials · Specialty Business Services

$198.44▼ 0.80% ($1.60)at close

As of 4:00 PM ET

52-week

$161.16$219.17

Market cap

$79.41B

P/E

40.30

Volume

2.06M

Shares outstanding

400.17M

What the market price implies · Reverse DCF

To support a price of $198.44, this model requires Stage 1 FCFF to grow by 24.82%/yr over the next 5 years, compounded annually.

Historical FCFF grew by 19.49%/yr over the past 10 years. The required annual growth rate is 5.33 percentage points higher.

Selected forecast · Base scenario

19.49%/yr · Stage 1 default · years 1–5

Annual overrides take precedence over the Stage 1 default.

Market-implied · Other assumptions held fixed

24.82%/yr · Stage 1 · years 1–5

Stage 1 growth is solved while Stage 2 growth, terminal growth, discount inputs, and annual overrides remain fixed. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Cash-flow DCF

Price used

$198.44

Estimated value / share

$160.57

Base scenario

This estimate is 19.08% below the price used.

USD · TTM ending 2026-05-31

FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.

Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.

Reported total debt includes capitalised leases (~10% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.

Stage 1 19.49% · Stage 2 10.72% · Discount rate 9.77%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future free cash flow, discounted to its value today.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-05-31
Data refreshed: Sep 11, 2026, 1:08 AM UTC · provider

Why this method?

FCFF is positive, but the year-to-year swings are too large for a direct CAGR. Normalize the cash-flow base first, then run DCF.

Is FCFF positive and has it been for 3+ consecutive years? 30 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 35.1%.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.

1Y Price: -1.47%Revenue (TTM): 8.94%FCF (TTM): 7.07%P/FCF: 79th pct

What changed

The stock fell 1.47% over the last year. Revenue grew 8.94% over the trailing twelve months. Operating margin moved from 22.82% to 23.14%. Free cash flow grew 7.07% over the trailing twelve months.

What the market seems to be pricing

The stock has moved lower against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.

What would invalidate this read

Operating margin currently stands at 23.14%. A decisive move in revenue — currently up 8.94% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Cintas Corporation specializes in supplying professional uniforms and a range of essential business services primarily across the United States, Canada, and Latin America.

CEOTodd Schneider

SectorIndustrials

IndustrySpecialty Business Services

Employees48,100

IPO dateAug 19, 1983

https://www.cintas.com

Market multiples

Forward P/E—

EV/EBITDA22.98

Enterprise value$71.8B

Stock splits

Sep 12, 2024↑ Forward

Every 1 shares became 4

+300%

Mar 8, 2000↑ Forward

Every 2 shares became 3

+50%

Nov 19, 1997↑ Forward

Every 1 shares became 2

+100%

Apr 3, 1992↑ Forward

Every 1 shares became 2

+100%

Apr 3, 1991↑ Forward

Every 2 shares became 3

+50%

Apr 3, 1987↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth8.9%

Gross margin50.67%▲0.5ppvs FY2025

Operating margin23.14%▲0.3ppvs FY2025

ROE40.71%▲0.4ppYoY

Analyst consensus

RatingHold

Target price$231.25▲16.53%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Sep 23, 2026

Q4 FY26 · EPS est $1.35 · Revenue est $2.98B

View

Dividends

$0.52/shareAnnual4yr growth streakSafe

CTAS pays a dividend with a 0.26% dividend yield, 4 consecutive years of growth, growing at 13.87% annually, covered 2.7× by free cash flow.

Dividend Yield

0.26%

Annual Div / Share

$0.52

TTM $1.87

5yr CAGR

+13.87%

Doubles every ~5.3yr

Payout Ratio

35.07%

Safe

Dividend Growth Rate

3yr CAGR

+16.96%

5yr CAGR

+13.87%

10yr CAGR

+20.4%

Dividend Safety

10/10Safe

Dividend History

Annual dividends paid per share

YearAnnual DivYoY

2025$1.68+15.5%

2024$1.46+16.4%

2023$1.25+19.0%

2022$1.05+23.5%

2021$0.85-3.1%

2020$0.88+37.6%

2019$0.64+24.4%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$3/yr

$0/mo

In 5 yrs

$5/yr+76%

$0/mo

In 10 yrs

$8/yr+211%

$1/mo

Today	In 5 yrs	In 10 yrs
$3/yr $0/mo	$5/yr+76% $0/mo	$8/yr+211% $1/mo

Long-range projections use a capped 12% annual growth assumption.

Yield-on-cost grows from 0.26% → 0.81% over 10yr

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 2.7× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Strong dividend growth rate

The 5-year CAGR of 13.87% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NASDAQ · CTAS

Cintas Corporation

Industrials · Specialty Business Services

$198.44▼ 0.80% ($1.60)at close

As of 4:00 PM ET

52-week

$161.16$219.17

Market cap

$79.41B

P/E

40.30

Volume

2.06M

Shares outstanding

400.17M

What the market price implies · Reverse DCF

To support a price of $198.44, this model requires Stage 1 FCFF to grow by 24.82%/yr over the next 5 years, compounded annually.

Historical FCFF grew by 19.49%/yr over the past 10 years. The required annual growth rate is 5.33 percentage points higher.

Selected forecast · Base scenario

19.49%/yr · Stage 1 default · years 1–5

Annual overrides take precedence over the Stage 1 default.

Market-implied · Other assumptions held fixed

24.82%/yr · Stage 1 · years 1–5

Stage 1 growth is solved while Stage 2 growth, terminal growth, discount inputs, and annual overrides remain fixed. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Cash-flow DCF

Price used

$198.44

Estimated value / share

$160.57

Base scenario

This estimate is 19.08% below the price used.

USD · TTM ending 2026-05-31

FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.

Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.

Stage 1 19.49% · Stage 2 10.72% · Discount rate 9.77%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future free cash flow, discounted to its value today.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-05-31
Data refreshed: Sep 11, 2026, 1:08 AM UTC · provider

Why this method?

FCFF is positive, but the year-to-year swings are too large for a direct CAGR. Normalize the cash-flow base first, then run DCF.

Is FCFF positive and has it been for 3+ consecutive years? 30 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 35.1%.

Price vs Fundamentals

Why The Stock Is Moving

Mixed / unclearLow confidence

Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.

1Y Price: -1.47%Revenue (TTM): 8.94%FCF (TTM): 7.07%P/FCF: 79th pct

What changed

The stock fell 1.47% over the last year. Revenue grew 8.94% over the trailing twelve months. Operating margin moved from 22.82% to 23.14%. Free cash flow grew 7.07% over the trailing twelve months.

What the market seems to be pricing

What would invalidate this read

Operating margin currently stands at 23.14%. A decisive move in revenue — currently up 8.94% — would be the clearest signal to resolve the ambiguity.

Performance

Return analysis

Company profile

Cintas Corporation specializes in supplying professional uniforms and a range of essential business services primarily across the United States, Canada, and Latin America.

CEOTodd Schneider

SectorIndustrials

IndustrySpecialty Business Services

Employees48,100

IPO dateAug 19, 1983

https://www.cintas.com

Market multiples

Forward P/E—

EV/EBITDA22.98

Enterprise value$71.8B

Stock splits

Sep 12, 2024↑ Forward

Every 1 shares became 4

+300%

Mar 8, 2000↑ Forward

Every 2 shares became 3

+50%

Nov 19, 1997↑ Forward

Every 1 shares became 2

+100%

Apr 3, 1992↑ Forward

Every 1 shares became 2

+100%

Apr 3, 1991↑ Forward

Every 2 shares became 3

+50%

Apr 3, 1987↑ Forward

Every 1 shares became 2

+100%

Profitability & growth

Revenue growth8.9%

Gross margin50.67%▲0.5ppvs FY2025

Operating margin23.14%▲0.3ppvs FY2025

ROE40.71%▲0.4ppYoY

Analyst consensus

RatingHold

Target price$231.25▲16.53%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Sep 23, 2026

Q4 FY26 · EPS est $1.35 · Revenue est $2.98B

View

Dividends

$0.52/shareAnnual4yr growth streakSafe

CTAS pays a dividend with a 0.26% dividend yield, 4 consecutive years of growth, growing at 13.87% annually, covered 2.7× by free cash flow.

Dividend Yield

0.26%

Annual Div / Share

$0.52

TTM $1.87

5yr CAGR

+13.87%

Doubles every ~5.3yr

Payout Ratio

35.07%

Safe

Dividend Growth Rate

3yr CAGR

+16.96%

5yr CAGR

+13.87%

10yr CAGR

+20.4%

Dividend Safety

10/10Safe

Dividend History

Annual dividends paid per share

YearAnnual DivYoY

2025$1.68+15.5%

2024$1.46+16.4%

2023$1.25+19.0%

2022$1.05+23.5%

2021$0.85-3.1%

2020$0.88+37.6%

2019$0.64+24.4%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$3/yr

$0/mo

In 5 yrs

$5/yr+76%

$0/mo

In 10 yrs

$8/yr+211%

$1/mo

Today	In 5 yrs	In 10 yrs
$3/yr $0/mo	$5/yr+76% $0/mo	$8/yr+211% $1/mo

Long-range projections use a capped 12% annual growth assumption.

Yield-on-cost grows from 0.26% → 0.81% over 10yr

Analysis

Dividend Strengths

Well-covered by free cash flow

The dividend is covered 2.7× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Strong dividend growth rate

The 5-year CAGR of 13.87% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.