Cintas (CTAS) FY2018 results: revenue $6.5 billion, up 21.7% on the year
Cintas Corp. (CTAS) reported revenue of $6.5 billion for fiscal 2018, the year ended 31 May 2018, up 21.7% on the year before. Net income was $843 million, up 75.3%, and diluted earnings per share $1.89. The figures are the company's own, from the 10-K it filed with the SEC on 27 July 2018.
Revenue
$6.5 billion
+21.7% on the year
FY2011FY2018
Operating margin
14.7%
14.5% a year earlier
FY2011FY2018
Net income
$843 million
+75.3% on the year
FY2011FY2018
Diluted EPS
$1.89
+72.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
6,477
5,323
4,796
+21.7%
Gross profit
2,909
2,380
2,101
+22.2%
Gross margin
44.9%
44.7%
43.8%
Selling, general and administrative
1,917
1,527
1,332
+25.5%
Operating income
950
774
769
+22.8%
Operating margin
14.7%
14.5%
16.0%
Interest expense
110
86.5
64.5
+27.3%
Pre-tax income
841
687
705
+22.3%
Income tax
57.1
230
257
-75.2%
Effective tax rate
6.8%
33.5%
36.4%
Net income
843
481
694
+75.3%
Net margin
13.0%
9.0%
14.5%
Diluted EPS
$1.89
$1.09
$1.55
+72.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
964
764
466
+26.2%
Capital expenditure
272
273
275
-0.6%
Free cash flow
692
491
190
+41.2%
Free cash flow margin
10.7%
9.2%
4.0%
Cash from investing
-136
-2,310
128
Cash from financing
-864
1,579
-867
Depreciation and amortisation
279
197
165
+42.1%
Share-based compensation
113
88.9
79.3
+27.0%
Buybacks
127
20.7
780
+514.4%
Dividends paid
176
142
115
+23.3%
Dividend per share
$0.41
$0.33
$0.26
+21.8%
Diluted shares, weighted
439m
431m
440m
+1.9%
Shares outstanding at period end
425m
417m
417m
+2.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,017
2,303
1,843
+31.0%
Short-term borrowings
0.0
n/a
n/a
Debt
2,535
3,134
1,294
-19.1%
Other liabilities
1,406
1,408
967
-0.1%
Total liabilities and equity
6,958
6,844
4,104
+1.7%
Fixed assets
1,383
1,324
994
+4.5%
Goodwill
2,847
2,782
1,276
+2.3%
Intangible assets
546
587
78.2
-7.0%
Investments
0.0
22.2
n/a
Cash and equivalents
139
169
139
-18.0%
Receivables
805
736
546
+9.3%
Inventory
280
278
249
+0.8%
Other assets
959
946
821
+1.4%
Total assets
6,958
6,844
4,104
+1.7%
10-K for the year ended 31 May 2018, filed 27 July 2018: the filing.