CTAS - Cintas Corp Stock Price Quote - NASDAQ | Morningstar

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Cintas Improves Margins in Third Quarter; We Increase FVE to $283 Due to Raised Guidance

Senior Analyst Joshua Aguilar

Joshua Aguilar Senior Analyst

Business Strategy and Outlook

| Joshua Aguilar | Mar 24, 2022

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 comprises 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. About 60% of its annual sales growth derives from new client wins, and at $4 billion-$5 billion, the remaining unvended market remains sizable, and the G&K acquisition added 170,000 uniform rental clients to Cintas' book of business.

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Key Statistics - CTAS

Cintas Corp's Company Profile

Business Description

In its core uniform and facility services unit (80% 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 (3% of sales).

Contact

6800 Cintas Boulevard, P.O. Box 625737
Cincinnati, OH, 45262-5737

T +1 513 459-1200

Sector Industrials

Industry Specialty Business Services

Most Recent Earnings Feb 28, 2022

Fiscal Year End May 31, 2022

Stock Type Cyclical

Employees 40,000

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The wide-moat company's impressive operational execution persists in terms of adding new programmers and boosting account penetration with ancillary services.

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Cintas: Integration Will Be Dominant Theme, Short-Term

The G&K Services acquisition offers upside potential to our fair value on this wide-moat uniform rental specialist.

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Although the current stock price is steep, wide-moat Cintas benefits from scale-based cost advantages and strong network infrastructure.

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