Cintas (CTAS) FY2013 results: revenue $4.2 billion, up 3.5% on the year
Cintas Corp. (CTAS) reported revenue of $4.2 billion for fiscal 2013, the year ended 31 May 2013, up 3.5% on the year before. Net income was $315 million, up 6.0%, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 30 July 2013.
Revenue
$4.2 billion
+3.5% on the year
FY2009FY2013
Operating margin
13.3%
13.2% a year earlier
FY2009FY2013
Net income
$315 million
+6.0% on the year
FY2009FY2013
Diluted EPS
$0.63
+11.0% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
4,246
4,102
3,810
+3.5%
Gross profit
1,753
1,739
1,609
+0.8%
Gross margin
41.3%
42.4%
42.2%
Selling, general and administrative
1,187
1,199
1,169
-1.0%
Operating income
565
540
440
+4.7%
Operating margin
13.3%
13.2%
11.6%
Interest expense
65.7
70.6
49.7
-7.0%
Pre-tax income
501
471
393
+6.3%
Income tax
184
173
146
+6.2%
Effective tax rate
36.8%
36.8%
37.1%
Net income
315
298
247
+6.0%
Net margin
7.4%
7.3%
6.5%
Diluted EPS
$0.63
$0.57
$0.42
+11.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
553
470
341
+17.6%
Capital expenditure
196
161
183
+22.2%
Free cash flow
356
309
158
+15.3%
Free cash flow margin
8.4%
7.5%
4.2%
Cash from investing
n/a
n/a
-299
Cash from financing
n/a
n/a
-20.0
Depreciation and amortisation
180
194
193
-7.3%
Share-based compensation
23.3
20.3
15.2
+14.8%
Buybacks
216
392
444
-45.0%
Dividends paid
79.7
70.8
71.8
+12.6%
Dividend per share
$0.16
$0.14
$0.12
+18.5%
Diluted shares, weighted
498m
520m
586m
-4.2%
Shares outstanding at period end
489m
506m
550m
-3.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,201
2,139
2,303
+2.9%
Debt
1,309
1,285
1,286
+1.9%
Other liabilities
835
737
763
+13.3%
Total liabilities and equity
4,346
4,161
4,352
+4.4%
Fixed assets
987
953
946
+3.6%
Goodwill
1,518
1,485
1,488
+2.2%
Intangible assets
92.2
76.8
102
+20.0%
Investments
5.7
0.0
87.2
Cash and equivalents
352
340
438
+3.7%
Receivables
496
451
429
+10.0%
Inventory
240
251
250
-4.3%
Other assets
655
604
611
+8.4%
Total assets
4,346
4,161
4,352
+4.4%
10-K for the year ended 31 May 2013, filed 30 July 2013: the filing.