Cintas (CTAS) FY2017 results: revenue $5.3 billion, up 11.0% on the year
Cintas Corp. (CTAS) reported revenue of $5.3 billion for fiscal 2017, the year ended 31 May 2017, up 11.0% on the year before. Net income was $481 million, down 30.7%, and diluted earnings per share $1.09. The figures are the company's own, from the 10-K it filed with the SEC on 31 July 2017.
Revenue
$5.3 billion
+11.0% on the year
FY2010FY2017
Operating margin
14.5%
16.0% a year earlier
FY2010FY2017
Net income
$481 million
-30.7% on the year
FY2010FY2017
Diluted EPS
$1.09
-29.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,323
4,796
4,370
+11.0%
Gross profit
2,380
2,101
1,893
+13.3%
Gross margin
44.7%
43.8%
43.3%
Selling, general and administrative
1,527
1,332
1,209
+14.6%
Operating income
774
769
684
+0.6%
Operating margin
14.5%
16.0%
15.6%
Interest expense
86.5
64.5
65.2
+34.1%
Pre-tax income
687
705
641
-2.5%
Income tax
230
257
238
-10.4%
Effective tax rate
33.5%
36.4%
37.2%
Net income
481
694
431
-30.7%
Net margin
9.0%
14.5%
9.9%
Diluted EPS
$1.09
$1.55
$0.91
-29.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
764
466
580
+64.0%
Capital expenditure
273
275
218
-0.8%
Free cash flow
491
190
363
+157.6%
Free cash flow margin
9.2%
4.0%
8.3%
Cash from investing
-2,310
128
45.0
Cash from financing
1,579
-867
-713
Depreciation and amortisation
197
165
153
+18.9%
Share-based compensation
88.9
79.3
47.0
+12.1%
Buybacks
20.7
780
552
-97.3%
Dividends paid
142
115
202
+23.6%
Dividend per share
$0.33
$0.26
$0.42
+26.7%
Diluted shares, weighted
431m
440m
470m
-2.0%
Shares outstanding at period end
417m
417m
447m
0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,303
1,843
1,932
+25.0%
Debt
3,134
1,294
1,300
+142.1%
Other liabilities
1,408
967
960
+45.5%
Total liabilities and equity
6,844
4,104
4,192
+66.7%
Fixed assets
1,324
994
871
+33.1%
Goodwill
2,782
1,276
1,180
+118.0%
Intangible assets
587
78.2
35.6
+650.7%
Investments
22.2
n/a
n/a
Cash and equivalents
169
139
417
+21.5%
Receivables
736
546
496
+34.7%
Inventory
278
249
226
+11.6%
Other assets
946
821
966
+15.2%
Total assets
6,844
4,104
4,192
+66.7%
10-K for the year ended 31 May 2017, filed 31 July 2017: the filing.