Cintas (CTAS) FY2012 results: revenue $4.1 billion, up 7.7% on the year
Cintas Corp. (CTAS) reported revenue of $4.1 billion for fiscal 2012, the year ended 31 May 2012, up 7.7% on the year before. Net income was $298 million, up 20.5%, and diluted earnings per share $0.57. The figures are the company's own, from the 10-K it filed with the SEC on 30 July 2012.
Revenue
$4.1 billion
+7.7% on the year
FY2009FY2012
Operating margin
13.2%
11.6% a year earlier
FY2009FY2012
Net income
$298 million
+20.5% on the year
FY2009FY2012
Diluted EPS
$0.57
+35.1% on the year
FY2009FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,102
3,810
3,547
+7.7%
Gross profit
1,739
1,609
1,498
+8.0%
Gross margin
42.4%
42.2%
42.2%
Selling, general and administrative
1,199
1,169
1,086
+2.6%
Operating income
540
440
391
+22.5%
Operating margin
13.2%
11.6%
11.0%
Interest expense
70.6
49.7
48.6
+42.1%
Pre-tax income
471
393
344
+19.9%
Income tax
173
146
128
+19.0%
Effective tax rate
36.8%
37.1%
37.3%
Net income
298
247
216
+20.5%
Net margin
7.3%
6.5%
6.1%
Diluted EPS
$0.57
$0.42
$0.35
+35.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
470
341
566
+37.8%
Capital expenditure
161
183
111
-11.9%
Free cash flow
309
158
455
+95.2%
Free cash flow margin
7.5%
4.2%
12.8%
Cash from investing
n/a
-299
-208
Cash from financing
n/a
-20.0
-76.5
Depreciation and amortisation
194
193
193
+0.4%
Share-based compensation
20.3
15.2
15.3
+33.6%
Buybacks
392
444
1.0
-11.6%
Dividends paid
70.8
71.8
74.0
-1.4%
Dividend per share
$0.14
$0.12
$0.12
+10.2%
Diluted shares, weighted
520m
586m
611m
-11.3%
Shares outstanding at period end
506m
550m
611m
-8.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,139
2,303
2,534
-7.1%
Debt
1,285
1,286
786
-0.1%
Other liabilities
737
763
650
-3.4%
Total liabilities and equity
4,161
4,352
3,970
-4.4%
Fixed assets
953
946
895
+0.7%
Goodwill
1,485
1,488
1,357
-0.2%
Intangible assets
76.8
102
103
-24.9%
Investments
0.0
87.2
155
Cash and equivalents
340
438
411
-22.4%
Receivables
451
429
362
+5.1%
Inventory
251
250
169
+0.6%
Other assets
604
611
517
-1.2%
Total assets
4,161
4,352
3,970
-4.4%
10-K for the year ended 31 May 2012, filed 30 July 2012: the filing.