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UniFirst Corporation (UNF) 10-Year Financial Performance & Capital Metrics

UNF • • Industrial / General
IndustrialsBusiness ServicesFacility Management & Support ServicesUniform & Apparel Services
AboutUniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments. The company also rents and sells industrial wiping products, floor mats, facility service products, and dry and wet mops; restroom and cleaning supplies comprising air fresheners, paper products, gloves, masks, sanitizers, and hand soaps; and other textile products. In addition, it provides first aid cabinet services and other safety supplies; decontaminates and cleans work clothes, and other items that is exposed to radioactive materials; and services special cleanroom protective wear and facilities. Further, it offers a range of garment service options, including full-service rental programs in which garments are cleaned and serviced; lease programs in which garments are cleaned and maintained by individual employees; and purchase programs to buy garments and related items directly. The company serves automobile service centers and dealers, delivery services, food and general merchandise retailers, food processors and service operations, light manufacturers, maintenance facilities, restaurants, service companies, soft and durable goods wholesalers, transportation companies, healthcare providers, government agencies, research and development laboratories, high technology companies, and utilities operating nuclear reactors, as well as others who require employee clothing for image, identification, protection, or utility purposes. UniFirst Corporation was founded in 1936 and is headquartered in Wilmington, Massachusetts.Show more
  • Revenue $2.43B +0.2%
  • EBITDA $327M +0.6%
  • Net Income $148M +1.9%
  • EPS (Diluted) 7.98 +2.7%
  • Gross Margin 30.82% -11.7%
  • EBITDA Margin 13.44% +0.4%
  • Operating Margin 7.59% +0.3%
  • Net Margin 6.1% +1.7%
  • ROE 6.93% -2.0%
  • ROIC 6.83% -0.7%
  • Debt/Equity 0.03 +2.3%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.26%
5Y6.16%
3Y6.73%
TTM0.21%

Profit (Net Income) CAGR

10Y1.78%
5Y1.78%
3Y12.76%
TTM1.92%

EPS CAGR

10Y2.64%
5Y2.28%
3Y13.48%
TTM2.7%

ROCE

10Y Avg9.11%
5Y Avg7.4%
3Y Avg7.09%
Latest7.53%

Peer Comparison

Uniform & Apparel Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CTASCintas Corporation78.26B194.2344.147.75%17.58%42.61%2.25%0.57
UNFUniFirst Corporation2.93B202.0025.310.2%6.1%6.84%4.82%0.03

Profit & Loss

Aug 2016Aug 2017Aug 2018Aug 2019Aug 2020Aug 2021Aug 2022Aug 2023Aug 2024Aug 2025
Sales/Revenue+1.47B1.59B1.7B1.81B1.8B1.83B2B2.23B2.43B2.43B
Revenue Growth %0.01%0.08%0.07%0.07%-0%0.01%0.1%0.12%0.09%0%
Cost of Goods Sold+900.43M993.59M1.06B1.14B1.16B1.14B1.31B1.48B1.58B1.68B
COGS % of Revenue0.61%0.62%0.62%0.63%0.65%0.62%0.65%0.66%0.65%0.69%
Gross Profit+567.62M597.37M639.76M670.18M639.23M684.94M694.37M751.75M847.6M749.6M
Gross Margin %0.39%0.38%0.38%0.37%0.35%0.38%0.35%0.34%0.35%0.31%
Gross Profit Growth %-0.01%0.05%0.07%0.05%-0.05%0.07%0.01%0.08%0.13%-0.12%
Operating Expenses+366.46M431.29M457.39M438.17M466.5M489.12M560.02M618.15M664.02M565.1M
OpEx % of Revenue0.25%0.27%0.27%0.24%0.26%0.27%0.28%0.28%0.27%0.23%
Selling, General & Admin284.85M342.41M360.73M334.84M361.8M383.16M451.24M496.92M522.59M565.1M
SG&A % of Revenue0.19%0.22%0.21%0.19%0.2%0.21%0.23%0.22%0.22%0.23%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses81.61M571K-673K103.33M104.7M105.95M108.78M121.23M141.43M0
Operating Income+201.16M110.28M182.38M232.01M172.73M195.82M134.28M133.51M183.58M184.5M
Operating Margin %0.14%0.07%0.11%0.13%0.1%0.11%0.07%0.06%0.08%0.08%
Operating Income Growth %0%-0.45%0.65%0.27%-0.26%0.13%-0.31%-0.01%0.38%0.01%
EBITDA+284.27M200.62M280.67M336.96M278.36M303.21M244.63M256.7M325.01M327.01M
EBITDA Margin %0.19%0.13%0.17%0.19%0.15%0.17%0.12%0.11%0.13%0.13%
EBITDA Growth %0.02%-0.29%0.4%0.2%-0.17%0.09%-0.19%0.05%0.27%0.01%
D&A (Non-Cash Add-back)83.11M90.33M98.29M104.95M105.63M107.39M110.34M123.19M141.43M142.51M
EBIT204.3M115.12M187.25M237.92M172.73M196.87M134.32M138.84M183.58M195.38M
Net Interest Income+2.54M4.27M5.54M9.08M6.38M2.57M2.85M6.74M7.24M9.77M
Interest Income3.47M4.27M5.54M9.08M6.38M2.57M2.85M6.74M7.24M9.77M
Interest Expense927K000000000
Other Income/Expense2.21M4.84M4.87M5.92M5.16M1.05M-26K5.23M5.8M10.88M
Pretax Income+203.37M115.12M187.25M237.92M177.89M196.87M134.32M138.84M189.38M195.38M
Pretax Margin %0.14%0.07%0.11%0.13%0.1%0.11%0.07%0.06%0.08%0.08%
Income Tax+78.34M44.93M23.35M58.79M42.12M45.76M30.92M35.16M43.91M47.1M
Effective Tax Rate %0.61%0.61%0.88%0.75%0.76%0.77%0.77%0.75%0.77%0.76%
Net Income+125.03M70.2M163.9M179.13M135.77M151.11M103.4M103.67M145.47M148.27M
Net Margin %0.09%0.04%0.1%0.1%0.08%0.08%0.05%0.05%0.06%0.06%
Net Income Growth %0.01%-0.44%1.33%0.09%-0.24%0.11%-0.32%0%0.4%0.02%
Net Income (Continuing)125.03M70.2M163.9M179.13M135.77M151.11M103.4M103.67M145.47M148.27M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+6.173.448.219.337.137.945.465.537.777.98
EPS Growth %0%-0.44%1.39%0.14%-0.24%0.11%-0.31%0.01%0.41%0.03%
EPS (Basic)6.513.638.279.777.468.325.715.778.118.33
Diluted Shares Outstanding20.15M20.28M19.96M19.2M19.04M19.04M18.93M18.76M18.72M18.58M
Basic Shares Outstanding20.06M20.17M19.81M18.34M18.19M18.15M18.1M17.97M18.66M17.81M
Dividend Payout Ratio0.02%0.04%0.03%0.05%0.12%0.12%0.2%0.21%0.16%0.17%

Balance Sheet

Aug 2016Aug 2017Aug 2018Aug 2019Aug 2020Aug 2021Aug 2022Aug 2023Aug 2024Aug 2025
Total Current Assets+777.61M814.23M784.8M913.79M969.33M1.1B1.06B840.12M915.68M924.6M
Cash & Short-Term Investments363.8M349.75M270.51M385.34M474.84M512.87M376.4M89.6M175.08M209.17M
Cash Only363.8M349.75M270.51M385.34M-41.83M-43.17M376.4M79.44M161.57M203.5M
Short-Term Investments0000516.67M556.04M010.16M13.51M5.67M
Accounts Receivable156.58M187.17M200.8M203.46M190.92M208.33M249.2M279.08M278.85M285.3M
Days Sales Outstanding38.9342.9443.241.0438.6241.6445.4645.6241.9342.81
Inventory216.99M230.41M264.57M285.23M260.55M325.12M370.85M396.66M394.88M372.92M
Days Inventory Outstanding87.9684.6491.3891.3981.64103.98103.6197.7491.2380.89
Other Current Assets29.83M16.92M21.9M35.7M35.92M40.89M41.92M53.88M51.98M49.51M
Total Non-Current Assets+924.39M1B1.06B1.13B1.23B1.28B1.36B1.73B1.78B1.85B
Property, Plant & Equipment539.82M525.12M559.58M574.51M625.18M659.83M715.17M819.11M868.29M899.73M
Fixed Asset Turnover2.72x3.03x3.03x3.15x2.89x2.77x2.80x2.73x2.80x2.70x
Goodwill320.64M376.11M397.42M401.18M424.84M429.54M457.26M647.9M648.85M657.75M
Intangible Assets38.66M71.74M70.9M72.72M85.54M84.64M84.97M145.62M120M105.83M
Long-Term Investments000100K000000
Other Non-Current Assets25.17M31.54M30.26M84.57M93.61M102.68M106.18M116.67M142.76M189.27M
Total Assets+1.7B1.82B1.84B2.05B2.2B2.38B2.43B2.57B2.7B2.78B
Asset Turnover0.86x0.87x0.92x0.88x0.82x0.77x0.82x0.87x0.90x0.88x
Asset Growth %0.11%0.07%0.01%0.11%0.07%0.08%0.02%0.06%0.05%0.03%
Total Current Liabilities+152.63M177.85M198.46M189.84M210.1M254.67M243.75M267.23M281.44M290.4M
Accounts Payable50.88M64.69M73.5M77.92M64.03M81.36M82.13M92.73M92.51M94.98M
Days Payables Outstanding20.6323.7625.3924.9720.0626.0222.9522.8521.3720.6
Short-Term Debt000012.57M12.99M0018.24M17.85M
Deferred Revenue (Current)0000000000
Other Current Liabilities53.36M61.12M63.88M60.8M59.8M66.89M82.92M95.5M97.93M176.9M
Current Ratio5.09x4.58x3.95x4.81x4.61x4.33x4.36x3.14x3.25x3.18x
Quick Ratio3.67x3.28x2.62x3.31x3.37x3.06x2.84x1.66x1.85x1.90x
Cash Conversion Cycle106.26103.82109.2107.47100.2119.6126.12120.51111.79103.1
Total Non-Current Liabilities+184.59M188.09M179.96M216.25M247.8M253.44M268.36M298.79M306.46M318.79M
Long-Term Debt0000000000
Capital Lease Obligations000029.26M30.18M38.07M47.02M50.57M54.59M
Deferred Tax Liabilities79.67M81.35M74.07M99.17M85.72M89.18M106.31M130.08M00
Other Non-Current Liabilities104.92M106.74M105.89M117.07M218.54M223.26M230.29M251.77M255.9M264.2M
Total Liabilities337.23M365.94M378.42M406.09M457.9M508.11M512.1M566.01M587.9M609.2M
Total Debt+000041.83M43.17M51.67M64.76M68.81M72.44M
Net Debt-363.8M-349.75M-270.51M-385.34M83.66M86.35M-324.73M-14.68M-92.76M-131.06M
Debt / Equity----0.02x0.02x0.03x0.03x0.03x0.03x
Debt / EBITDA----0.15x0.14x0.21x0.25x0.21x0.22x
Net Debt / EBITDA-1.28x-1.74x-0.96x-1.14x0.30x0.28x-1.33x-0.06x-0.29x-0.40x
Interest Coverage217.00x---------
Total Equity+1.36B1.45B1.46B1.64B1.74B1.87B1.92B2B2.11B2.17B
Equity Growth %0.1%0.06%0.01%0.12%0.06%0.08%0.02%0.05%0.05%0.03%
Book Value per Share67.7271.6773.3885.5091.4498.38101.19106.81112.61116.73
Total Shareholders' Equity1.36B1.45B1.46B1.64B1.74B1.87B1.92B2B2.11B2.17B
Common Stock2.03M2.03M1.91M1.9M1.89M1.89M1.87M1.87M1.86M1.82M
Retained Earnings1.32B1.39B1.41B1.59B1.68B1.81B1.85B1.93B2.03B2.08B
Treasury Stock0000000000
Accumulated OCI-28.95M-21.52M-25.16M-33.69M-31.97M-24.84M-24.29M-23.76M-23.64M-21.79M
Minority Interest0000000000

Cash Flow

Aug 2016Aug 2017Aug 2018Aug 2019Aug 2020Aug 2021Aug 2022Aug 2023Aug 2024Aug 2025
Cash from Operations+207.64M218.27M230.07M282.14M286.68M212.3M122.65M215.76M295.27M295.71M
Operating CF Margin %0.14%0.14%0.14%0.16%0.16%0.12%0.06%0.1%0.12%0.12%
Operating CF Growth %-0.08%0.05%0.05%0.23%0.02%-0.26%-0.42%0.76%0.37%0%
Net Income125.03M70.2M163.9M179.13M135.77M151.11M103.4M103.67M145.47M148.27M
Depreciation & Amortization81.61M88.88M96.66M103.33M104.7M105.95M108.78M121.23M141.43M142.51M
Stock-Based Compensation5.63M12.46M4.64M5.76M6M7.01M9.1M9.06M9.77M0
Deferred Taxes9.9M955K-7.86M8.9M-12.15M300K20.01M22.14M5.23M3.9M
Other Non-Cash Items1.68M56.8M1.51M-5.9M4.1M1.97M573K2.98M3.27M9.34M
Working Capital Changes-16.21M-11.02M-28.77M-9.09M48.27M-54.05M-119.22M-43.33M-9.91M-8.31M
Change in Receivables-21.67M-17.09M-718K8.61M31.77M-16.68M-40.63M-21.71M0-6.48M
Change in Inventory1.47M1.86M-11.05M-10.74M-5.07M-37.21M-8.15M4M2.09M22.36M
Change in Payables49K9.59M4.57M3.37M-10.7M15.14M-927K10.11M-4.07M2.33M
Cash from Investing+-114.67M-233.04M-153.9M-124.33M-157.62M-141.47M-186.51M-487.65M-162.24M-155.05M
Capital Expenditures-98.23M-108.55M-112.75M-119.81M-116.72M-133.64M-144.32M-171.99M-160.42M-154.34M
CapEx % of Revenue0.07%0.07%0.07%0.07%0.06%0.07%0.07%0.08%0.07%0.06%
Acquisitions----------
Investments----------
Other Investing149K974K1.51M405K322K617K2.02M549K1.29M0
Cash from Financing+-5.64M-2.18M-152.95M-41.49M-41.1M-34.26M-69.44M-25.84M-50.36M-99.99M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-2.88M-2.9M-4.22M-8.26M-15.7M-18.15M-20.79M-22.1M-23.34M-24.63M
Share Repurchases----------
Other Financing-1.47M716K-3.18M-2.77M-3.73M-4.89M-4.07M-848K-3.24M-4.47M
Net Change in Cash----------
Free Cash Flow+109.4M109.72M117.33M162.33M169.97M78.66M-21.67M43.77M134.85M141.36M
FCF Margin %0.07%0.07%0.07%0.09%0.09%0.04%-0.01%0.02%0.06%0.06%
FCF Growth %-0.13%0%0.07%0.38%0.05%-0.54%-1.28%3.02%2.08%0.05%
FCF per Share5.435.415.888.468.934.13-1.142.337.207.61
FCF Conversion (FCF/Net Income)1.66x3.11x1.40x1.58x2.11x1.40x1.19x2.08x2.03x1.99x
Interest Paid763K801K538K750K637K685K838K1.34M1.17M0
Taxes Paid73.66M62.16M28.36M28.35M58.4M56.39M24.56M8.49M33.72M0

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)9.59%4.98%11.23%11.53%8.03%8.36%5.46%5.29%7.07%6.93%
Return on Invested Capital (ROIC)15.33%7.86%11.91%14.2%8.41%7.76%5.67%5.59%6.88%6.83%
Gross Margin38.66%37.55%37.71%37.04%35.43%37.51%34.7%33.66%34.92%30.82%
Net Margin8.52%4.41%9.66%9.9%7.53%8.27%5.17%4.64%5.99%6.1%
Debt / Equity----0.02x0.02x0.03x0.03x0.03x0.03x
Interest Coverage217.00x---------
FCF Conversion1.66x3.11x1.40x1.58x2.11x1.40x1.19x2.08x2.03x1.99x
Revenue Growth0.79%8.37%6.63%6.65%-0.29%1.22%9.56%11.61%8.7%0.2%

Revenue by Segment

2016201720182019202020212022202320242025
Other Operating---------99.2M
Other Operating Growth----------
U Sand Canadian Rentaland Cleaning M F Gand Corporates---1.62B1.6B1.62B1.77B1.96B2.14B-
U Sand Canadian Rentaland Cleaning M F Gand Corporates Growth-----0.91%0.88%9.59%10.77%9.06%-
M F G---254.22M214.68M264.02M281.11M297.75M315.16M-
M F G Growth-----15.55%22.98%6.47%5.92%5.85%-
Specialty Garments91.26M98.02M118.48M132.77M133.19M145.45M152.88M177.03M182.21M-
Specialty Garments Growth-7.42%20.87%12.06%0.31%9.21%5.11%15.80%2.92%-
First Aid47.41M50.78M54.36M60.4M69.49M65.2M77.44M94.82M106.27M-
First Aid Growth-7.11%7.05%11.11%15.04%-6.17%18.76%22.46%12.07%-
Corporate20.97M26.47M37.99M---37.41M53.42M55.89M-
Corporate Growth-26.21%43.54%----42.79%4.61%-
Corporate---33.68M49.31M34.71M----
Corporate Growth----46.39%-29.60%----
US and Canadian Rental and Cleaning, MFG, and Corporates-1.44B1.52B-------
US and Canadian Rental and Cleaning, MFG, and Corporates Growth--5.65%-------
US and Canadian Rental and Cleaning1.31B1.42B1.49B-------
US and Canadian Rental and Cleaning Growth-8.20%4.95%-------
MFG189.15M206.57M247.53M-------
MFG Growth-9.21%19.83%-------
Subtotal Core Laundry Operations1.33B---------
Subtotal Core Laundry Operations Growth----------
Net Interco MFG Elimination-188.9M---------
Net Interco MFG Elimination Growth----------

Revenue by Geography

2016201720182019202020212022202320242025
UNITED STATES1.35B1.47B1.56B1.68B1.66B-1.83B2.05B2.24B2.25B
UNITED STATES Growth-8.90%5.93%7.92%-1.39%--12.21%8.89%0.38%
Europe And Canada---126.06M144.25M153.69M169.73M178.45M190.14M186.46M
Europe And Canada Growth----14.43%6.54%10.44%5.13%6.55%-1.93%
U S-----1.67B----
U S Growth----------
Europe and Canada115.94M118.53M136.71M-------
Europe and Canada Growth-2.23%15.34%-------

Frequently Asked Questions

Valuation & Price

UniFirst Corporation (UNF) has a price-to-earnings (P/E) ratio of 25.3x. This suggests investors expect higher future growth.

Growth & Financials

UniFirst Corporation (UNF) reported $2.43B in revenue for fiscal year 2025. This represents a 94% increase from $1.26B in 2012.

UniFirst Corporation (UNF) grew revenue by 0.2% over the past year. Growth has been modest.

Yes, UniFirst Corporation (UNF) is profitable, generating $148.3M in net income for fiscal year 2025 (6.1% net margin).

Dividend & Returns

Yes, UniFirst Corporation (UNF) pays a dividend with a yield of 0.66%. This makes it attractive for income-focused investors.

UniFirst Corporation (UNF) has a return on equity (ROE) of 6.9%. This is below average, suggesting room for improvement.

UniFirst Corporation (UNF) generated $174.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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