Cintas (CTAS) FY2014 results: revenue $4.2 billion, down 1.2% on the year
Cintas Corp. (CTAS) reported revenue of $4.2 billion for fiscal 2014, the year ended 31 May 2014, down 1.2% on the year before. Net income was $374 million, up 18.7%, and diluted earnings per share $0.76. The figures are the company's own, from the 10-K it filed with the SEC on 30 July 2014.
Revenue
$4.2 billion
-1.2% on the year
FY2009FY2014
Operating margin
14.4%
13.3% a year earlier
FY2009FY2014
Net income
$374 million
+18.7% on the year
FY2009FY2014
Diluted EPS
$0.76
+21.0% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
4,194
4,246
4,102
-1.2%
Gross profit
1,750
1,753
1,739
-0.2%
Gross margin
41.7%
41.3%
42.4%
Selling, general and administrative
1,147
1,187
1,199
-3.4%
Operating income
603
565
540
+6.6%
Operating margin
14.4%
13.3%
13.2%
Interest expense
65.8
65.7
70.6
+0.2%
Pre-tax income
537
501
471
+7.3%
Income tax
199
184
173
+8.3%
Effective tax rate
37.1%
36.8%
36.8%
Net income
374
315
298
+18.7%
Net margin
8.9%
7.4%
7.3%
Diluted EPS
$0.76
$0.63
$0.57
+21.0%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
606
553
470
+9.6%
Capital expenditure
146
196
161
-25.9%
Free cash flow
460
356
309
+29.2%
Free cash flow margin
11.0%
8.4%
7.5%
Cash from investing
-14.5
n/a
n/a
Cash from financing
-430
n/a
n/a
Depreciation and amortisation
147
180
194
-18.1%
Share-based compensation
29.9
23.3
20.3
+28.2%
Buybacks
371
216
392
+71.8%
Dividends paid
93.3
79.7
70.8
+17.0%
Dividend per share
$0.19
$0.16
$0.14
+20.3%
Diluted shares, weighted
487m
498m
520m
-2.3%
Shares outstanding at period end
468m
489m
506m
-4.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,193
2,201
2,139
-0.4%
Debt
1,301
1,309
1,285
-0.6%
Other liabilities
969
835
737
+16.0%
Total liabilities and equity
4,462
4,346
4,161
+2.7%
Fixed assets
856
987
953
-13.3%
Goodwill
1,267
1,518
1,485
-16.5%
Intangible assets
55.7
92.2
76.8
-39.6%
Investments
0.0
5.7
0.0
Cash and equivalents
513
352
340
+45.7%
Receivables
508
496
451
+2.5%
Inventory
251
240
251
+4.5%
Other assets
1,011
655
604
+54.4%
Total assets
4,462
4,346
4,161
+2.7%
10-K for the year ended 31 May 2014, filed 30 July 2014: the filing.