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Cintas Corporation

Cintas Corporation (CTAS)

758.56
-0.41
(-0.05%)
Closed July 19 4:00PM
758.56
0.00
( 0.00% )
Pre Market: 7:21AM

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
758.56
Bid
762.01
Ask
768.00
Volume
59
0.00 Day's Range 0.00
474.74 52 Week Range 773.775
Market Cap
Previous Close
758.56
Open
-
Last Trade
1
@
764
Last Trade Time
07:16:02
Financial Volume
-
VWAP
-
Average Volume (3m)
397,797
Shares Outstanding
101,463,249
Dividend Yield
0.71%
PE Ratio
57.10
Earnings Per Share (EPS)
13.29
Revenue
8.82B
Net Profit
1.35B

About Cintas Corporation

In its core uniform and facility services unit (79% of sales), Cintas provides uniform rental programs to businesses across the size spectrum, mostly in North America. The firm is by far the largest provider in the industry. Facilities products generally include the rental and sale of entrance mat, ... In its core uniform and facility services unit (79% of sales), Cintas provides uniform rental programs to businesses across the size spectrum, mostly in North America. The firm is by far the largest provider in the industry. Facilities products generally include the rental and sale of entrance mat, mops, shop towels, hand sanitizers, and restroom supplies. Cintas also runs a first aid and safety services business (11% of sales), a fire protection services business (6% of sales), and a uniform direct sales business (4% of sales). Show more

Sector
Mens & Boys Work Clothing
Industry
Mens & Boys Work Clothing
Website
Headquarters
Tumwater, Washington, USA
Founded
1970
Cintas Corporation is listed in the Mens & Boys Work Clothing sector of the NASDAQ with ticker CTAS. The last closing price for Cintas was $758.56. Over the last year, Cintas shares have traded in a share price range of $ 474.74 to $ 773.775.

Cintas currently has 101,463,249 shares outstanding. The market capitalization of Cintas is $76.97 billion. Cintas has a price to earnings ratio (PE ratio) of 57.10.

Cintas (CTAS) Options Flow Summary

Overall Flow

Bullish

Net Premium

3M

Calls / Puts

850.00%

Buys / Sells

66.67%

OTM / ITM

18.75%

Sweeps Ratio

0.00%

CTAS Latest News

Cintas Corporation annonce les résultats de son quatrième trimestre et de son exercice 2024

Cintas Corporation (Nasdaq : CTAS) publie ce jour ses rΓ©sultats pour le quatriΓ¨me trimestre 2024 clos le 31 mai 2024. Le chiffre d’affaires pour le quatriΓ¨me trimestre de l’exercice 2024 s’élΓ¨ve...

Cintas Corporation Announces Fiscal 2024 Fourth Quarter and Full Year Results

Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2024 fourth quarter ended May 31, 2024. Revenue for the fourth quarter of fiscal 2024 was $2.47 billion compared to $2.28...

Nasdaq Tech Stocks Show Partial Recovery; Oil Prices Rise

U.S. index futures show a mixed trend in pre-market trading this Thursday, with technology stocks making a partial recovery after the Nasdaq experienced its worst session since 2022 the previous...

Cintas figure parmi les 60 meilleures entreprises pour lesquelles il fait bon de vendre en 2024, selon Selling Power

Le leader des services aux entreprises figure sur cette liste prestigieuse pour la dix-neuvième année consécutive. Cintas Corporation (Nasdaq : CTAS) a été reconnue par Selling Power comme l'une...

Cintas Named One of Selling Power’s 60 Best Companies to Sell For in 2024

The business services leader earns a spot on this prestigious list for the nineteenth year in a row Cintas Corporation (Nasdaq: CTAS) has been recognized by Selling Power as one of the country's...

Newsweek classe Cintas parmi les meilleurs lieux de travail d'AmΓ©rique

Cette reconnaissance tΓ©moigne de l'engagement de Cintas Γ  soutenir ses employΓ©s-partenaires et Γ  crΓ©er un environnement de travail favorable et inclusif. Cintas Corporation (Nasdaq : CTAS) a Γ©tΓ©...

Newsweek Lists Cintas as One of America’s Greatest Workplaces

This recognition supports Cintas’ commitment to supporting its employee-partners and creating a supportive and inclusive workplace experience Cintas Corporation (Nasdaq: CTAS) has been recognized...

Cintas Corporation Announces Webcast for Fourth Quarter Fiscal Year 2024 Results

Cintas Corporation (Nasdaq: CTAS) today announced that it will release fiscal year 2024 fourth quarter and full year results on Thursday, July 18, 2024. The Company will conduct a conference call...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
137.155.14963751542721.41773.775713.67543460740.7576966CS
449.556.98861793205709.01773.775688.81502069716.12445281CS
1295.2214.3546296017663.34773.775648.65397797698.7487943CS
26155.325.7434605311603.26773.775595376093668.54294481CS
52253.6850.2456029155504.88773.775474.74371498597.97959875CS
15636693.2341552884392.56773.775343.86405358472.97301207CS
260500.15193.549011261258.41773.775154.33465176380.99926975CS

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CTAS Discussion

View Posts
gfp927z gfp927z 4 days ago
>>> Cintas (NASDAQ: CTAS) provides products and services to help a wide range of businesses keep their premises clean, such as uniforms, mops, fire extinguishers, and safety training. Like Accenture, the company's revenue and net income has increased steadily during the past three fiscal years.

https://finance.yahoo.com/news/3-growth-stocks-buy-hold-104500181.html

Total revenue increased from $7.1 billion in fiscal 2021 to $8.8 billion in fiscal 2023 (ended May 31). Net income rose at a slower pace but still posted consecutive year-over-year increases, going from $1.1 billion in fiscal 2021 to $1.3 billion by fiscal 2023. Free-cash-flow generation averaged $1.26 billion over the three fiscal years and demonstrates the impressive cash generation of Cintas's business.

For the first nine months of fiscal 2024 ended Feb. 29, Cintas saw revenue continue to climb, increasing by 9.1% year over year to $7.1 billion. Net income rose by 16% year over year to $1.16 billion. Free cash flow did even better over the same period, jumping 31% year over year from $820 million to $1.08 billion.

Cintas's latest quarterly dividend came in at $1.35 per share, a 17% year-over-year increase from the prior year's $1.15. The company boasts an enviable track record of raising its dividends consistently since it went public 41 years ago.

The company's vision is to expand its market by acquiring new customers and increasing its market share as only 1 million businesses out of a potential 16 million are its clients. With market penetration rates of less than 20%, management believes there's room for further growth. If the company is successful, investors should see its top and bottom lines continue to grow.

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Monksdream Monksdream 1 week ago
CTAS 10Q due JULY18
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gfp927z gfp927z 4 weeks ago
Bar, That's a great mid cap ETF, and the Vanguard ETF (VO) has an even lower expense ratio (0.3% vrs 0.5%), but both are ultra low.

Btw, here are some ideas for individual mid cap stocks (links below). I originally defined the 10-50 Bil range as 'Mid Cap', but that is somewhat dated due to 'market cap creep' over the years. The IJH and VO ETFs use considerably higher levels, and thus include companies like CTAS and APH as mid caps, while I have those as Large Caps. Either way though, this is an extremely fertile area for stock pickers -


Mid Cap Ideas (mkt cap 10 - 50 bil) -

https://investorshub.advfn.com/Mid-Cap-Ideas-28751


Large Cap (mkt cap 50 - 200 bil) -

https://investorshub.advfn.com/Large-Cap-Ideas-28756




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bar1080 bar1080 4 weeks ago
I still own mid cap ETF IJH which has done nicely
https://finviz.com/published_idea.ashx?t=IJH&f=062424&i=IJHd002712111i
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gfp927z gfp927z 4 weeks ago
Bar, Yes, the ultra high dividend payers should be avoided imo. Even a moderately high dividend payout can signal that the company doesn't see many attractive growth opportunities within their business, so they return the capital back to shareholders. I figure it's best to have a decent allocation to mid caps, to get the higher growth potential. But nothing wrong with having some 3-4% dividend payers for stability, like KO, PEP, plus some 2-3% div payers like PG, MCD.

Fwiw, I decided to mainly stick to the S+P 500 to keep things simple, although that index is heavily over weighted in the mega-cap tech names. Almost 20% of the SPY is in just 3 stocks -- MSFT, AAPL, NVDA, and another 10% is in AMZN, META, GOOG. We could be seeing a repeat of the 'Nifty 50' phenomenon, only now it's the 'Nifty 6'.

So probably good to add a mid cap index, as you have done. Mid caps have been lagging in recent years, but over very long periods (15, 20 years) the VO has beaten VOO, albeit with more downside volatility during the bear markets.

With mid caps, good stock picking can beat the mid cap index funds by a wide margin, and that's where Buffett would probably be if he didn't have such a huge amount to invest. A stock picker like him would be shooting the lights out with the mid caps, like he did in the early days of Berkshire.



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bar1080 bar1080 4 weeks ago
I don't get excited when my stocks split. That's mostly an accounting adjustment. For one thing, I usually hold my stocks for years. Similarly I don't worry about div increases unless they indicate strong, enduring profits, What I love are several YEARS of earnings growth with few downturns. There are just too many ways to juice a dividend for short periods to appeal to newbies and traders. That's done all the time in Pennyland. .

Did I show this article to you? "There Is Nothing Special About Dividends." I'm always leery of flimsy stocks with suspiciously huge payouts, especially one shot dividends, Of course many investors seek regular dividends, but the best way to get them is with a PORTFOLIO of strong, growing diversified payers, without gimmicks. Buffett type investments.

https://www.morningstar.com/portfolios/there-is-nothing-special-about-dividends
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gfp927z gfp927z 4 weeks ago
Hi Bar, >> Split >> Stock splits are back in fashion. Here’s why, and which companies could be next


FRI, JUN 14 2024

Stock splits, long out of favor, are making a comeback.

It started with Walmart, which announced a 3-for-1 stock split on Jan. 30, with the additional shares being distributed on Feb. 23.

And from there, it picked up steam. On Thursday, Williams-Sonoma announced a 2-for-1 split, and on Wednesday, Broadcom announced a 10-for-1 split.

Notable stock splits in 2024
(when distributed)

Walmart
3-1 2/23/24

Cooper Companies
4-1 2/16/24

Texas Pacific Land
3-1 3/27/24

Old Dominion Freight Line
2-1 3/27/24

Nvidia
10-1 6/7/24

Amphenol
2-1 6/11/24

Chipotle Mexican Grill
50-1 6/25/24

Broadcom
10-1 7/12/24

Williams-Sonoma
2-1 7/8/24

Cintas
4-1 9/11/24

Sony Group
5-1 10/8/24

Lam Research
10-1 10/3/24

Why the comeback in stock splits?

Stock splits are far less common now than 20 or 30 years ago. During the tech and internet bubble of the late 1990s, stock splits were common. David Kostin, chief U.S. equity strategist at Goldman Sachs, noted that roughly 15% of Russell 1000 firms split their stock each year in the late 1990s, but that proved to be an anomaly.

By the mid-2000s, roughly 5% of the Russell 1000 members split their stock each year, and after the great financial crisis from 2008-2009, stock splits practically ceased.

Importantly, splits did not increase after the market began recovering in 2010.

The likely reason is the institutional base for stock ownership has come to dominate the market. Institutional investors invest by dollar value, not by shares. They would typically buy, for example, $10 million in stock and wouldn’t care what the price is.

But recently, there are signs of a subtle shift. Some of it may be because the price of some stocks reached absurd levels. Chipotle, for example, has never split its stock and is trading over $3,200 and will soon split 50-for-1. Nvidia was over $1,200 by the time it split 10-for-1.

More importantly, some companies appear to be more interested in appealing to retail investors.

Nvidia noted that the purpose of the split was to β€œmake stock ownership more accessible to employees and investors.” Chipotle said the same thing.

Walmart also cited these factors in its statement announcing the split: β€œThe stock split is part of Walmart’s ongoing review of optimal trading and spread levels and its desire for its associates to feel that purchasing shares is easily within reach.

Does splitting a stock affect the price?

In theory, no. The value of the company remains the same.

However, many academic studies have noted various changes in trading patterns for stocks that split, though these changes are not uniform. One academic study published in the Journal of Risk and Financial Management in 2023 found several positive benefits:

1) trading volumes go up

2) liquidity, or the ability to trade a lot of shares without moving the price, improves

3) stock splits increase the shareholder base for the company

These changes may have subtle impacts on the stock price.

Candidates for stock split?

If companies with a retail focus are suddenly more sensitive to their prices, there are some obvious candidates. The β€œover $1,000” club in the S&P 500 is small and getting smaller: Chipotle ($3,230), Broadcom ($1,679) and Lam Research ($1,032) are all splitting their stocks.

The holdouts include Booking Holdings ($3,852), Autozone ($2,809), and Deckers Outdoors ($1,026).

Other high-priced stocks with a retail focus include Costco ($843) and Super Micro Computer ($872), which recently joined the S&P 500.

However, if corporate America smells that there is a trend and can attract attention by splitting stocks, retail-facing companies with much lower price profiles may also become candidates.

That might include Spotify ($305), Ulta Beauty ($397) or even ServiceNow ($715), which has never split its stock.

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bar1080 bar1080 4 weeks ago
Thanks, GFP. I hadn't noticed the split. Still have all my CTAS.
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gfp927z gfp927z 4 weeks ago
>>> Cintas Board of Directors Approves 4-For-1 Stock Split


Business Wire

May 2, 2024


https://finance.yahoo.com/news/cintas-board-directors-approves-4-201500865.html


Stock split to increase accessibility to all investors, including Cintas employee-partners.

CINCINNATI, May 02, 2024--(BUSINESS WIRE)--Cintas Corporation (Nasdaq: CTAS), a leading provider of business-to-business services, today announced that its Board of Directors approved a four-for-one split of its common stock. Shareholders of record, as of September 4, 2024, will receive three additional shares for each share held, which will be distributed after market close on September 11, 2024. Cintas’ shares are expected to begin trading on a post-split basis at the market open on Thursday, September 12, 2024. Prior to this announcement, Cintas’ most recent stock split was in 2000.

"At Cintas, we call our employees β€˜partners’ in recognition of the value that each individual contributes to our success as a company. Our founder, Dick Farmer, also believed the importance of each employee-partner having ownership in the company to share collectively in that success," said Todd Schneider, Cintas' President and Chief Executive Officer. "Cintas shares are trading near record highs as a result of our steadfast focus on serving our customers. We believe that the time is right to split the stock and increase its accessibility to our employee-partners and investors so that they can continue to share in the future growth of Cintas."

The company expects that the stock split will increase the number of shares of Cintas’s outstanding common stock from approximately 101 million shares to approximately 404 million shares.

About 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, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, 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.

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Monksdream Monksdream 4 months ago
CTAS 10Q due 3/27
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Monksdream Monksdream 4 months ago
CTAS new 52 hi
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Monksdream Monksdream 5 months ago
CTAS new 52=week high
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bar1080 bar1080 6 months ago
CTAS soars to another ATH at $617.
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Monksdream Monksdream 7 months ago
CTAS new 52 week high
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bar1080 bar1080 7 months ago
Yeah ME! My first $600 stock. Boring laundry company Cintas reaches ATH, I've owned CTAS continuously for years. Unfortunately I've slightly trimmed my huge holding twice, once in 1999 and again in 2020 to stop it from overwhelming my diversified portfolio.

.
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Monksdream Monksdream 7 months ago
CTAS new 52 week high
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gfp927z gfp927z 7 months ago
>>> Cintas Corporation Announces Fiscal 2024 Second Quarter Results


Business Wire

December 21, 2023


https://finance.yahoo.com/news/cintas-corporation-announces-fiscal-2024-133000783.html


CINCINNATI, December 21, 2023--(BUSINESS WIRE)--Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2024 second quarter ended November 30, 2023. Revenue for the second quarter of fiscal 2024 was $2.38 billion compared to $2.17 billion in last year’s second quarter, an increase of 9.3%. The organic revenue growth rate for the second quarter of fiscal 2024, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 9.0%.

Gross margin for the second quarter of fiscal 2024 was $1.14 billion compared to $1.02 billion in last year’s second quarter, an increase of 11.6%. Gross margin as a percentage of revenue was 48.0% for the second quarter of fiscal 2024 compared to 47.0% in last year's second quarter, an increase of 100 basis points. Energy expenses comprised of gasoline, natural gas and electricity were 40 basis points lower for the second quarter of fiscal 2024 compared to last year's second quarter.

Selling and administrative expenses increased $64.4 million, or 11.1%, in the second quarter of fiscal 2024 compared to the same period of the prior fiscal year. The increase reflects investments in selling resources, technology and our management trainee program.

Operating income for the second quarter of fiscal 2024 increased 12.3% to $499.7 million compared to $444.9 million in last year's second quarter. Operating income as a percentage of revenue was 21.0% in the second quarter of fiscal 2024 compared to 20.5% in last year's second quarter.

Net income was $374.6 million for the second quarter of fiscal 2024 compared to $324.3 million in last year's second quarter. The second quarter of fiscal 2024 effective tax rate was 20.9% compared to 22.1% in last year's second quarter. The tax rates in both quarters were impacted by certain discrete items, primarily the tax accounting impact for stock-based compensation. Second quarter of fiscal 2024 diluted earnings per share (EPS) was $3.61 compared to $3.12 in last year's second quarter, an increase of 15.7%.

On December 15, 2023, Cintas paid an aggregate quarterly cash dividend of $137.5 million to shareholders, an increase of 17.1% from the amount paid last December. In addition, we continue to be opportunistic with our share buyback program. During the second quarter, Cintas purchased 658,202 shares of Cintas common stock at an average price of $486.58 per share, for a total purchase price of $320.3 million.

Todd M. Schneider, Cintas' President and Chief Executive Officer, stated, "We are pleased with our second quarter fiscal 2024 financial results. Each of our operating segments continue to execute at a high level, leading to robust revenue growth of 9.3%, high operating margin of 21.0% and diluted EPS growth of 15.7%. This strong execution is the result of the exceptional dedication of our employee-partners. Whether it's image, safety, cleanliness or compliance, we have innovative products and services to help businesses across North America stay focused on the work that matters most."

Mr. Schneider concluded, "We are increasing our full fiscal year financial guidance. We are raising our annual revenue expectations from a range of $9.40 billion to $9.52 billion to a range of $9.48 billion to $9.56 billion and our diluted EPS from a range of $14.00 to $14.45 to a range of $14.35 to $14.65." Please note the following regarding guidance:

Fiscal year 2024 interest expense is expected to be approximately $100.0 million compared to $109.5 million in fiscal year 2023, predominately as a result of less variable rate debt. This may change as a result of future share buybacks or acquisition activity.

Fiscal year 2024 effective tax rate is expected to be 21.3% compared to a rate of 20.4% in fiscal year 2023. The higher effective tax rate negatively impacts fiscal 2024 diluted EPS guidance by approximately $0.16 and diluted EPS growth by approximately 120 basis points.

Our diluted EPS guidance includes no future share buybacks.

Guidance includes the impact of having one more workday in fiscal year 2024 compared to fiscal year 2023.

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, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, 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 2024 second quarter results today at 10:00 a.m., Eastern Time. The webcast will be available to the public on Cintas' website at www.Cintas.com. A replay of the webcast will be available approximately two hours after the completion of the live call and will remain available for two weeks.

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bar1080 bar1080 7 months ago
CTAS up 7%. ATH. Company said demand was strong.
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gfp927z gfp927z 7 months ago
Bar, The mid caps continue to recover, and are outpacing the S+P 500. So a good sign going into 2024 :o)



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bar1080 bar1080 7 months ago
No one would doubt luck plays a role in success or failure. In 2010 my kids had quite a bit of money, but most of it was sitting in cash and some bond funds, some in SPY and a very few individual stocks. That year I added more of their money to SPY and a small amount to DIA (the sleepy Dow 30 index fund). At the last moment, I threw in some QQQ to add some "sizzle" to their portfolio and became a genius in the kids' eyes. Where I differed from most IHUBbers is I never traded any of those funds. QQQ did have a few sharp downturns, but I held.

No doubt the financial press loves Buffett and Munger, but luck played a gigantic role in their success in the form of just one stock... GEICO. WB first bought shares in 1951 when he was just 20 years old! GEICO had some painful downturns, but Buffett stuck with it. BRK owned 100% of GEICO by 1996. The success of GEICO also convinced Buffett to acquire other insurance operations.

I looked at several mid cap index funds and spotted slight differences among them, however selecting IJH was luck. If the stock market had collapsed, IJH may have turned out to be the worst of the lot.
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gfp927z gfp927z 7 months ago
Bar, Looks like this is how the IJH juices its returns (below). In contrast, the Vanguard offering (VO) looks like a plain vanilla index ETF. But looking closer at the long term performance, there hasn't been very much of a difference. Over 20 years, VO is up 5.6 fold and IJH is up 5.8 fold. In comparison, the SPY up 6.2 fold, and QQQ up 11.8 fold (approx figures). So I take back what I said about the IJH blowing away the QQQ over the long haul. The QQQ has been the mega standout, as your kids have seen from their sizable purchases decades ago :o) However --> CTAS has blown them all away -- up approx 14.6 fold over 20 years, yikes.


iShares Core S+P Mid Cap ETF (IJH) -

>>> The index measures the performance of the mid-capitalization sector of the U.S. equity market, as determined by SPDJI. The fund generally will invest at least 80% of its assets in the component securities of its index and in investments that have economic characteristics that are substantially identical to the component securities of its index and may invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents. <<<

https://finance.yahoo.com/quote/IJH?p=IJH&.tsrc=fin-srch


Compare to Vanguard's Mid Cap ETF (VO) -

>>> The fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index, a broadly diversified index of stocks of mid-size U.S. companies. The advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. <<<

https://finance.yahoo.com/quote/VO/profile?p=VO



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bar1080 bar1080 8 months ago
This Year to Date, VO and IHJ have almost identical performance, but both well below that of the S&P.
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gfp927z gfp927z 8 months ago
Bar, For mid cap ETF exposure I went with VO, and will probably also be adding some VB to get additional small cap exposure. As a group, the mid / small companies have lagged for a long time, and even after the recent bounce they still look undervalued.

Btw, I'm still limited to 1 post / day on the other board, so will respond over here. Maybe in the new year my past transgressions with the I-Hub mods will be forgiven.

IJH looks like a good choice, and I see they match Vanguard's 0.05% expense ratio. I looked at their top 10 holdings, but wasn't familiar with many of them, and Vanguard's VO's top ten list had six stocks from my own 'Best Long Term Stocks' list, so I went with VO. I'm not a big fam of Blackrock in general, so haven't owned many of their ETFs, but comparing their long term performance, IJH has blown away VO, and also the QQQ. Very impressive, so I'll have to check them out further.

Looks like Cintas continues on its steady skyward course. It would be tough to find a better long term stock. Who needs tech stocks when there is CTAS :o)




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Monksdream Monksdream 8 months ago
CTAS new 52 week high
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Monksdream Monksdream 8 months ago
CTAS new 52 week high
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gfp927z gfp927z 10 months ago
>>> Cintas Corporation Announces Fiscal 2024 First Quarter Results


Business Wire

September 26, 2023


https://finance.yahoo.com/news/cintas-corporation-announces-fiscal-2024-123000301.html


CINCINNATI, September 26, 2023--(BUSINESS WIRE)--Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2024 first quarter ended August 31, 2023. Revenue for the first quarter of fiscal 2024 was $2.34 billion compared to $2.17 billion in last year’s first quarter, an increase of 8.1%. The organic revenue growth rate for the first quarter of fiscal 2024, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was also 8.1%.

Gross margin for the first quarter of fiscal 2024 was $1.14 billion compared to $1.03 billion in last year’s first quarter, an increase of 11.0%. Gross margin as a percentage of revenue was 48.7% for the first quarter of fiscal 2024 compared to 47.5% in last year's first quarter, an increase of 120 basis points. Energy expenses comprised of gasoline, natural gas and electricity were 50 basis points lower for the first quarter of fiscal 2024 compared to last year's first quarter.

Operating income for the first quarter of fiscal 2024 increased 13.7% to $500.6 million compared to $440.1 million in last year's first quarter. Operating income as a percentage of revenue was 21.4% in the first quarter of fiscal 2024 compared to 20.3% in last year's first quarter.

Net income was $385.1 million for the first quarter of fiscal 2024 compared to $351.7 million in last year's first quarter. The first quarter of fiscal 2024 effective tax rate was 19.2% compared to 14.8% in last year's first quarter. The tax rates in both quarters were impacted by certain discrete items, primarily the tax accounting impact for stock-based compensation. First quarter of fiscal 2024 diluted earnings per share (EPS) was $3.70 compared to $3.39 in last year's first quarter.

On September 15, 2023, Cintas paid an aggregate quarterly cash dividend of $138.3 million to shareholders, an increase of 17.8% from the amount paid last September.

Todd M. Schneider, Cintas' President and Chief Executive Officer, stated, "We are pleased with our first quarter fiscal 2024 financial results. Our operating segments continue to execute at a high level, leading to robust volume growth and a record high operating margin of 21.4%. These financial results are the product of the exceptional dedication of our employee-partners in helping businesses across North America stay focused on the work that matters most through innovative products and services. I look forward to another successful fiscal year."

Mr. Schneider concluded, "We are increasing our full fiscal year financial guidance. We are raising our annual revenue expectations from a range of $9.35 billion to $9.50 billion to a range of $9.40 billion to $9.52 billion and our diluted EPS from a range of $13.85 to $14.35 to a range of $14.00 to $14.45." Please note the following regarding guidance:

Fiscal year 2024 interest expense is expected to be approximately $98.0 million compared to $109.5 million in fiscal year 2023, predominately as a result of lower variable rate debt. This may change as a result of future share buybacks or acquisition activity.

Fiscal year 2024 effective tax rate is expected to be 21.3% compared to a rate of 20.4% in fiscal year 2023. The higher effective tax rate negatively impacts fiscal 2024 diluted EPS guidance by approximately $0.16 and diluted EPS growth by approximately 120 basis points.

Our diluted EPS guidance includes no future share buybacks.

Guidance includes the impact of having one more workday in fiscal year 2024 compared to fiscal year 2023.

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, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, 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 2024 first quarter results today at 10:00 a.m., Eastern Time. The webcast will be available to the public on Cintas' website at www.Cintas.com. A replay of the webcast will be available approximately two hours after the completion of the live call and will remain available for two weeks.

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bar1080 bar1080 10 months ago
In recent years my stocks have often reacted perversely to earnings reports at least for the first few days. CTAS was near all-time high lately even with the broad market tumbling. It may well stabilize in a few days.

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I have a couple of stock positions I may add too, especially mid cap index fund, IJH, and Deere Don't own enough of either. Just about all of my stocks are off today
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gfp927z gfp927z 10 months ago
Bar, I doubt many penny stock types will be following CTAS :o)

CTAS earnings out today, and seemed OK, but I guess with the stock's high valuation, it was deemed not good enough. So down almost 5% today.

The market is still worried from the Fed meeting, and now the upcoming 'govt shutdown', which seems increasingly likely. Main stock indices have reached near term oversold (RSI 30 area), and I've been gradually adding to some positions. I figure things could stay weak until this govt shutdown issue is resolved. I know you aren't into charts, but looks like the S+P 500 might test the 200 MA during this selloff. If the govt shutdown does happen, then next week could also be weak.

Fwiw, I'm trying to do what Buffett is likely doing right now, which is to add to long term positions. My stock allocation has creeped up to 22%, and I might bump it up toward 25% during this selloff. You're an old pro with buy / hold, but for me getting the allocation % right is still a 'work in progress'. 20-25% seems like the sweet spot, but time will tell..




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bar1080 bar1080 10 months ago
You say "$3" and the local penny idiots will think it traded at that price.
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gfp927z gfp927z 10 months ago
Bar, >> why "players" mess with transparent junk like that
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bar1080 bar1080 10 months ago
"instead of crazy sectors like biotech." I haven't followed many small drug stocks but the few I've looked at mostly seem to be scams or "perpetual startups" where success is "just around corner"... and has been for years, sometimes decades.

Do you understand why "players" mess with transparent junk like that?
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gfp927z gfp927z 10 months ago
Bar, >> $3 stock
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bar1080 bar1080 10 months ago
Doubt CTAS was ever a $3 stock. It IPOd in 1983 at $17 and the shares and their dividends grew almost every year. I own a very large amount of CTAS.



http://www.fundinguniverse.com/company-histories/cintas-corporation-history/#:~:text=Richard%20Farmer%20finally%20took%20his,of%20the%20uniform%20rental%20industry.
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gfp927z gfp927z 10 months ago
Bar, >> return of over 77,000% <<

My charts only go back to 1990, when it was a $3 stock, but CTAS has sure been a monster. I guess it just goes to show that great stocks don't have to come from the tech sector. I remember Peter Lynch saying that his all time greatest performing stock was a company that owned a rock quarry, so he concluded that 'dull is good' :o)



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bar1080 bar1080 10 months ago
"Total return of over 77,000% since its initial public offering (IPO) in 1983?
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gfp927z gfp927z 10 months ago
>>> Cintas -- provides companies with uniforms, garments, first aid and safety products, and other ancillary business services. Despite its incredible 39-year run of dividend increases, Cintas has grown its dividend by 24% annually since 2018 and still has a slim payout ratio of 35%.


https://www.fool.com/investing/2023/09/07/4-top-dividend-payers-of-the-sp-500/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article


With 1 million of the 16 million North American businesses as clients, the company is a market leader with over 11,000 distribution routes in a highly fragmented industry. Capitalizing on its larger size amid this fragmented market, Cintas has been a masterful serial acquirer, leading to a total return of over 77,000% since its initial public offering (IPO) in 1983.

Over this time, the company has averaged an ROIC of 14%, steadily increasing to 21% over the last few years. This high and rising ROIC highlights Cintas' ability to successfully integrate acquisitions and generate outsize profits over the longer term.

The company's track record of growth in an industry less susceptible to behemoths like Amazon, along with its leadership position, make it a brilliant holding for investors looking for stability. However, the stock trades at a premium valuation of 39 times earnings, so investors may want to build a position on short-term dips using dollar-cost averaging (DCA).

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bar1080 bar1080 11 months ago
Another Big CTAS Div Increase

Date Dividends
Aug 14, 2023 1.35 Dividend
May 12, 2023 1.15 Dividend
Feb 14, 2023 1.15 Dividend
Nov 14, 2022 1.15 Dividend
Aug 12, 2022 1.15 Dividend
May 13, 2022 0.95 Dividend
Feb 14, 2022 0.95 Dividend
Nov 12, 2021 0.95 Dividend
Aug 12, 2021 0.95 Dividend
May 13, 2021 0.75 Dividend
Feb 11, 2021 0.75 Dividend
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bar1080 bar1080 1 year ago
CTAS IPOd in August 1983.

Read the full story: https://www.qualitycompounders.com.au/post/rags-to-riches-the-story-of-the-humble-uniforms-and-laundry-400-bagger
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bar1080 bar1080 1 year ago
Understanding CTAS's soaring payout

Date Dividends
May 12, 2023 1.15 Dividend
Feb 14, 2023 1.15 Dividend
Nov 14, 2022 1.15 Dividend
Aug 12, 2022 1.15 Dividend
May 13, 2022 0.95 Dividend
Aug 12, 2021 0.95 Dividend
May 13, 2021 0.75 Dividend
Feb 11, 2021 0.75 Dividend switched to quarterly
Nov 05, 2020 3.51 Dividend annual dividend 2020 and before
Nov 07, 2019 2.55 Dividend
Nov 08, 2018 2.05 Dividend
Nov 09, 2017 1.62 Dividend
Nov 02, 2016 1.33 Dividend
Nov 04, 2015 1.05 Dividend
Nov 05, 2014 1.70 Dividend included special div
Nov 06, 2013 0.77 Dividend
Nov 07, 2012 0.64 Dividend
Nov 08, 2011 0.54 Dividend
Nov 09, 2010 0.49 Dividend
Feb 08, 2010 0.48 Dividend
Feb 02, 2009 0.47 Dividend
Feb 04, 2008 0.46 Dividend
Feb 02, 2007 0.39 Dividend
Feb 03, 2006 0.35 Dividend
Feb 04, 2005 0.32 Dividend
Feb 06, 2004 0.29 Dividend
Feb 05, 2003 0.27 Dividend
Feb 13, 2002 0.25 Dividend
Jan 31, 2001 0.22 Dividend
Feb 02, 2000 0.186667 Dividend
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bar1080 bar1080 1 year ago
"Cintas Gains On Q3 Earnings Beat, FY23 Guidance Boost"

"Cintas Corporation (NASDAQ: CTAS) reported third-quarter FY23 sales growth of 11.7% year-on-year to $2.19 billion, beating the consensus of $2.15 billion.

Organic revenue growth rate was 11.8% for the quarter."

https://finance.yahoo.com/news/cintas-gains-q3-earnings-beat-164510301.html
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bar1080 bar1080 2 years ago
"Cintas (CTAS) Beats on Q2 Earnings, Raises FY23 Guidance"

"Cintas Corporation CTAS reported second-quarter fiscal 2023 (ended Nov 30, 2022) earnings of $3.12 per share, beating the Zacks Consensus Estimate of $3.03. The bottom line increased 13% year over year despite high costs.

Total revenues of $2,174.9 million also outperformed the Zacks Consensus Estimate of $2,128 million. The top line climbed 14.2% year over year due to higher segmental revenues. Organic sales were up 13.1% year over year."

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170462833
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bar1080 bar1080 2 years ago
PLUS... Cintas sends dividend soaring, approves big share buyback. In a sign of continued financial strength, Fortune 500 member Cintas Corp. has raised its dividend by 21% and authorized $1 billion to buy back its own stock.

https://www.bizjournals.com/cincinnati/news/2022/07/27/cintas-sends-dividend-soaring-approves-big-share.html
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bar1080 bar1080 2 years ago
Took awhile, but CTAS is back above $400
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bar1080 bar1080 3 years ago
Understanding CTAS's soaring payout
Aug 12, 2021 0.95 Dividend
May 13, 2021 0.75 Dividend
Feb 11, 2021 0.75 Dividend switched to quarterly
Nov 05, 2020 3.51 Dividend annual dividend 2020 and before
Nov 07, 2019 2.55 Dividend
Nov 08, 2018 2.05 Dividend
Nov 09, 2017 1.62 Dividend
Nov 02, 2016 1.33 Dividend
Nov 04, 2015 1.05 Dividend
Nov 05, 2014 1.70 Dividend included special div
Nov 06, 2013 0.77 Dividend
Nov 07, 2012 0.64 Dividend
Nov 08, 2011 0.54 Dividend
Nov 09, 2010 0.49 Dividend
Feb 08, 2010 0.48 Dividend
Feb 02, 2009 0.47 Dividend
Feb 04, 2008 0.46 Dividend
Feb 02, 2007 0.39 Dividend
Feb 03, 2006 0.35 Dividend
Feb 04, 2005 0.32 Dividend
Feb 06, 2004 0.29 Dividend
Feb 05, 2003 0.27 Dividend
Feb 13, 2002 0.25 Dividend
Jan 31, 2001 0.22 Dividend
Feb 02, 2000 0.186667 Dividend
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bar1080 bar1080 3 years ago
CTAS reaches $400.00
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bar1080 bar1080 3 years ago
"Cintas announces $1.5B buyback; declares $0.95 dividend"

* "Cintas (NASDAQ:CTAS) Board of Directors authorized an additional share buyback program, allowing the company to buy up to $1.5B of its common stock at market prices.

* The company has also declared a $0.95/share quarterly dividend, representing 26.7% increase from prior dividend of $0.75."

https://seekingalpha.com/news/3720027-cintas-announces-15b-share-buyback-program-declares-095-dividend

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BottomBounce BottomBounce 3 years ago
$CTAS Cintas Corporation (CTAS)
Book Value Per Share (mrq) 35.44
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BottomBounce BottomBounce 3 years ago
$CTAS Cintas Corporation (CTAS)

Total Debt (mrq) 2.72B
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bar1080 bar1080 4 years ago
"Cintas increases dividend by ~7% to $0.75 dividend"

"Cintas (NASDAQ:CTAS) declares $0.75/share quarterly dividend, 6.8% increase from prior dividend of $0.70.
Forward yield 0.93%"

https://seekingalpha.com/news/3652436-
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bar1080 bar1080 4 years ago
Decade of Cintas Dividend Increases. CTAS only paid once a year although they just changed to quarterly.
Nov 05, 2020 3.51 Dividend
Nov 07, 2019 2.55 Dividend
Nov 08, 2018 2.05 Dividend
Nov 09, 2017 1.62 Dividend
Nov 02, 2016 1.33 Dividend
Nov 04, 2015 1.05 Dividend
Nov 05, 2014 1.7 Dividend Special
Nov 06, 2013 0.77 Dividend
Nov 07, 2012 0.64 Dividend
Nov 08, 2011 0.54 Dividend
Nov 09, 2010 0.49 Dividend
Feb 08, 2010 0.48 Dividend
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