Cintas Corporation (CTAS) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Specialty Business Services
EV/EBITDA
↑
24.73
-5% vs avg
5yr avg: 26.16
30Y Low7.1·High33.4
P/FCF
↑
38.82
-2% vs avg
5yr avg: 39.41
30Y Low8.8·High80.2
P/B Ratio
↑
14.82
+3% vs avg
5yr avg: 14.35
30Y Low1.5·High19.8
ROE
↑
40.3%
↓+10% vs avg
5yr avg: 36.7%
30Y Low9%·High40%
Debt/EBITDA
↓
0.93
↓-25% vs avg
5yr avg: 1.25
30Y Low0.5·High3.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CTAS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Cintas Corporation trades at 38.5x earnings, roughly in line with its 5-year average of 40.3x, sitting at the 87th percentile of its historical range. Compared to the Industrials sector median P/E of 25.7x, the stock trades at a premium of 50%. On a free-cash-flow basis, the stock trades at 38.8x P/FCF, roughly in line with the 5-year average of 39.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $68.2B | $92.9B | $70.1B | $48.8B | $42.0B | $38.1B | $26.5B | $24.3B | $20.0B | $13.6B | $10.4B |
| Enterprise Value | $70.6B | $95.3B | $72.4B | $51.4B | $44.9B | $40.3B | $29.1B | $27.0B | $22.4B | $16.5B | $11.6B |
| P/E Ratio → | 38.47 | 51.48 | 44.72 | 36.32 | 34.22 | 34.53 | 30.54 | 27.46 | 23.73 | 28.61 | 15.29 |
| P/S Ratio | 6.60 | 8.99 | 7.30 | 5.54 | 5.35 | 5.35 | 3.75 | 3.52 | 3.09 | 2.55 | 2.12 |
| P/B Ratio | 14.82 | 19.84 | 16.24 | 12.63 | 12.71 | 10.33 | 8.20 | 8.09 | 6.63 | 5.89 | 5.66 |
| P/FCF | 38.82 | 52.89 | 41.96 | 38.53 | 32.41 | 31.28 | 25.00 | 30.70 | 28.90 | 27.66 | 54.73 |
| P/OCF | 31.49 | 42.91 | 33.70 | 30.55 | 27.34 | 27.99 | 20.55 | 22.75 | 20.76 | 17.76 | 22.38 |
P/E links to full P/E history page with 30-year chart
CTAS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Cintas Corporation's enterprise value stands at 24.7x EBITDA, 5% below its 5-year average of 26.2x. The Industrials sector median is 13.7x, placing the stock at a 81% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.22 | 7.54 | 5.83 | 5.72 | 5.66 | 4.11 | 3.92 | 3.46 | 3.11 | 2.36 |
| EV / EBITDA | 24.73 | 33.40 | 28.83 | 23.22 | 22.60 | 22.75 | 18.87 | 18.11 | 18.27 | 17.08 | 12.25 |
| EV / EBIT | 29.91 | 40.30 | 34.79 | 28.46 | 28.29 | 29.04 | 25.00 | 22.46 | 23.56 | 21.36 | 15.05 |
| EV / FCF | — | 54.25 | 43.35 | 40.54 | 34.63 | 33.11 | 27.42 | 34.18 | 32.36 | 33.70 | 60.82 |
CTAS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Cintas Corporation earns an operating margin of 22.8%, significantly above the Industrials sector average of 4.7%. Operating margins have expanded from 20.4% to 22.8% over the past 3 years, signaling improving operational efficiency. Return on equity of 40.3% is exceptionally high — well above the sector median of 8.2%. ROIC of 25.8% represents excellent returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.0% | 50.0% | 48.8% | 47.3% | 46.2% | 46.6% | 45.6% | 45.4% | 44.9% | 44.7% | 43.4% |
| Operating Margin | 22.8% | 22.8% | 21.6% | 20.4% | 20.2% | 19.5% | 16.4% | 16.4% | 14.7% | 14.5% | 15.9% |
| Net Profit Margin | 17.5% | 17.5% | 16.4% | 15.3% | 15.7% | 15.6% | 12.4% | 12.8% | 13.0% | 9.0% | 14.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 40.3% | 40.3% | 38.4% | 37.6% | 35.3% | 32.1% | 28.1% | 29.4% | 31.7% | 23.2% | 36.7% |
| ROA | 18.8% | 18.8% | 17.2% | 15.6% | 14.6% | 13.4% | 11.2% | 12.0% | 11.9% | 8.5% | 16.5% |
| ROIC | 25.8% | 25.8% | 23.8% | 21.5% | 19.7% | 17.8% | 15.1% | 15.2% | 13.3% | 14.0% | 20.2% |
| ROCE | 29.8% | 29.8% | 27.1% | 24.7% | 23.3% | 20.2% | 17.1% | 17.7% | 15.5% | 16.6% | 22.4% |
CTAS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Cintas Corporation carries a Debt/EBITDA ratio of 0.9x, which is very conservative (70% below the sector average of 3.1x). Net debt stands at $2.4B ($2.7B total debt minus $264M cash). Interest coverage of 23.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.57 | 0.57 | 0.62 | 0.69 | 0.90 | 0.74 | 0.84 | 0.95 | 0.84 | 1.36 | 0.71 |
| Debt / EBITDA | 0.93 | 0.93 | 1.06 | 1.21 | 1.49 | 1.53 | 1.75 | 1.91 | 2.07 | 3.24 | 1.37 |
| Net Debt / Equity | — | 0.51 | 0.54 | 0.66 | 0.87 | 0.60 | 0.79 | 0.92 | 0.79 | 1.29 | 0.63 |
| Net Debt / EBITDA | 0.84 | 0.84 | 0.93 | 1.15 | 1.45 | 1.25 | 1.66 | 1.84 | 1.95 | 3.06 | 1.23 |
| Debt / FCF | — | 1.36 | 1.39 | 2.01 | 2.22 | 1.83 | 2.41 | 3.48 | 3.46 | 6.04 | 6.09 |
| Interest Coverage | 23.34 | 23.34 | 20.53 | 16.21 | 17.87 | 14.11 | 11.03 | 11.14 | 8.62 | 8.94 | 12.12 |
CTAS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Cintas Corporation's current ratio of 2.09x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.49x to 2.09x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.09 | 2.09 | 1.12 | 1.49 | 1.14 | 1.01 | 1.65 | 1.23 | 1.64 | 1.17 | 1.29 |
| Quick Ratio | 1.82 | 1.82 | 0.90 | 1.08 | 0.81 | 0.76 | 1.19 | 0.93 | 1.28 | 0.92 | 0.98 |
| Cash Ratio | 0.16 | 0.16 | 0.19 | 0.10 | 0.06 | 0.26 | 0.16 | 0.09 | 0.18 | 0.17 | 0.26 |
| Asset Turnover | — | 1.05 | 1.01 | 1.00 | 0.93 | 0.83 | 0.89 | 0.90 | 0.91 | 0.76 | 1.16 |
| Inventory Turnover | 11.55 | 11.55 | 11.97 | 9.16 | 8.94 | 7.89 | 9.42 | 11.25 | 12.73 | 10.58 | 11.13 |
| Days Sales Outstanding | — | 50.03 | 47.32 | 47.74 | 47.77 | 47.39 | 44.84 | 48.59 | 46.45 | 53.50 | 40.79 |
CTAS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Cintas Corporation returns 2.3% to shareholders annually — split between a 0.9% dividend yield and 1.4% buyback yield. The payout ratio of 33.7% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 0.7% | 0.8% | 0.9% | 0.9% | 1.2% | 1.0% | 0.9% | 0.9% | 1.0% | 1.1% |
| Payout Ratio | 33.7% | 33.7% | 33.8% | 33.4% | 30.4% | 40.6% | 30.6% | 24.9% | 20.8% | 29.6% | 16.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 1.9% | 2.2% | 2.8% | 2.9% | 2.9% | 3.3% | 3.6% | 4.2% | 3.5% | 6.5% |
| FCF Yield | 2.6% | 1.9% | 2.4% | 2.6% | 3.1% | 3.2% | 4.0% | 3.3% | 3.5% | 3.6% | 1.8% |
| Buyback Yield | 1.4% | 1.0% | 1.0% | 0.8% | 3.6% | 1.5% | 1.8% | 4.2% | 0.6% | 0.2% | 7.5% |
| Total Shareholder Yield | 2.3% | 1.7% | 1.8% | 1.7% | 4.5% | 2.6% | 2.8% | 5.1% | 1.5% | 1.2% | 8.6% |
| Shares Outstanding | — | $410M | $413M | $414M | $422M | $431M | $428M | $438M | $439M | $431M | $440M |
Peer Comparison
Compare CTAS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CTASYou | $68B | 38.5 | 24.7 | 38.8 | 50.0% | 22.8% | 40.3% | 25.8% | 0.9 |
 UNF | $5B | 31.6 | 13.9 | 33.2 | 30.8% | 7.6% | 6.8% | 6.8% | 0.2 |
 ARMK | $12B | 37.1 | 13.4 | 26.2 | 5.8% | 4.3% | 10.5% | 7.3% | 4.5 |
 ABM | $2B | 15.7 | 9.2 | 15.4 | 11.7% | 3.7% | 9.1% | 7.5% | 3.9 |
 ROL | $26B | 49.6 | 32.0 | 40.1 | 49.4% | 19.4% | 38.9% | 23.5% | 1.6 |
 CSGP | $15B | 2102.4 | 83.5 | 360.8 | 75.2% | -2.2% | 0.1% | -0.9% | 6.7 |
 G | $6B | 10.9 | 7.8 | 7.9 | 35.6% | 15.0% | 22.4% | 17.2% | 2.1 |
 KELYA | $346M | -1.4 | — | 3.0 | 20.1% | -1.6% | -23.0% | -4.0% | — |
 MAN | $1B | -102.2 | 8.9 | — | 16.7% | 1.3% | -0.6% | 5.6% | 7.4 |
 RHI | $3B | 20.2 | 21.1 | 10.2 | 37.2% | 1.4% | 10.0% | 4.6% | 3.3 |
 GWW | $54B | 32.1 | 19.2 | 40.5 | 39.1% | 15.0% | 43.5% | 32.1% | 1.1 |
| Industrials Median | — | 25.7 | 13.7 | 21.2 | 33.0% | 4.7% | 8.2% | 6.3% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCTAS — Frequently Asked Questions
Quick answers to the most common questions about buying CTAS stock.
What is Cintas Corporation's P/E ratio?
Cintas Corporation's current P/E ratio is 38.5x. The historical average is 28.3x. This places it at the 87th percentile of its historical range.
What is Cintas Corporation's EV/EBITDA?
Cintas Corporation's current EV/EBITDA is 24.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.8x.
What is Cintas Corporation's ROE?
Cintas Corporation's return on equity (ROE) is 40.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 21.9%.
Is CTAS stock overvalued?
Based on historical data, Cintas Corporation is trading at a P/E of 38.5x. This is at the 87th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Cintas Corporation's dividend yield?
Cintas Corporation's current dividend yield is 0.88% with a payout ratio of 33.7%.
What are Cintas Corporation's profit margins?
Cintas Corporation has 50.0% gross margin and 22.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Cintas Corporation have?
Cintas Corporation's Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.