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Cintas Corp CTAS Stock Quote

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Morningstar‘s Stock Analysis CTAS

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Raising Our Cintas Fair Value Estimate by 3% Following Revised Full-Year Guidance

Joshua Aguilar Senior Analyst

Business Strategy and Outlook

| Joshua Aguilar |

Cintas is the dominant provider in the $16 billion U.S. uniform rental/sales and related ancillary services industry. It enjoys a roughly 43% market share, and no singular end market constitutes a significant portion of total revenue. Despite its already impressive position, we expect Cintas will grow over the next 10 years. The firm constantly considers new product lines while emphasizing cross-selling to its existing customers and investing in technologies to enhance customer retention and operational efficiency. About 60% of its annual sales growth derives from new client wins. At $4 billion-$5 billion, the remaining unvended market remains sizable; the G&K acquisition added 170,000 uniform rental clients to Cintas' book of business.

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Key Statistics CTAS

Company Profile CTAS

Business Description

In its core uniform and facility services unit (78% 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 (7% of sales), and a uniform direct sales business (4% of sales).

6800 Cintas Boulevard, P.O. Box 625737
Cincinnati, OH, 45262-5737
T +1 513 459-1200
Industry Specialty Business Services
Most Recent Earnings Aug 31, 2022
Fiscal Year End May 31, 2023
Employees 43,000

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