Cintas (CTAS) FY2021 results: revenue $7.1 billion, up 0.4% on the year
Cintas Corp. (CTAS) reported revenue of $7.1 billion for fiscal 2021, the year ended 31 May 2021, up 0.4% on the year before. Net income was $1.1 billion, up 26.8%, and diluted earnings per share $2.56. The figures are the company's own, from the 10-K it filed with the SEC on 28 July 2021.
Revenue
$7.1 billion
+0.4% on the year
FY2014FY2021
Operating margin
19.5%
16.4% a year earlier
FY2014FY2021
Net income
$1.1 billion
+26.8% on the year
FY2014FY2021
Diluted EPS
$2.56
+26.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
7,116
7,085
6,892
+0.4%
Gross profit
3,315
3,234
3,129
+2.5%
Gross margin
46.6%
45.6%
45.4%
Selling, general and administrative
1,929
2,071
1,981
-6.9%
Operating income
1,385
1,163
1,134
+19.2%
Operating margin
19.5%
16.4%
16.4%
Interest expense
98.2
105
102
-6.8%
Pre-tax income
1,288
1,058
1,102
+21.7%
Income tax
177
182
220
-2.8%
Effective tax rate
13.7%
17.2%
19.9%
Net income
1,111
876
885
+26.8%
Net margin
15.6%
12.4%
12.8%
Diluted EPS
$2.56
$2.03
$2.00
+26.3%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,361
1,291
1,068
+5.4%
Capital expenditure
143
230
277
-37.7%
Free cash flow
1,217
1,061
791
+14.7%
Free cash flow margin
17.1%
15.0%
11.5%
Cash from investing
-137
-285
-236
Cash from financing
-880
-955
-873
Depreciation and amortisation
388
379
360
+2.3%
Share-based compensation
112
115
139
-2.9%
Buybacks
554
465
1,016
+19.3%
Dividends paid
451
268
221
+68.4%
Dividend per share
$1.25
$0.64
$0.51
+96.5%
Diluted shares, weighted
431m
428m
438m
+0.6%
Shares outstanding at period end
416m
414m
413m
+0.6%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,688
3,235
3,003
+14.0%
Debt
2,550
2,550
2,866
0.0%
Operating lease liabilities
131
123
n/a
+6.6%
Other liabilities
1,868
1,762
1,568
+6.0%
Total liabilities and equity
8,237
7,670
7,437
+7.4%
Fixed assets
1,318
1,403
1,431
-6.0%
Goodwill
2,913
2,870
2,842
+1.5%
Intangible assets
720
761
495
-5.4%
Cash and equivalents
494
145
96.6
+239.5%
Receivables
902
870
910
+3.6%
Inventory
482
409
335
+17.8%
Other assets
1,408
1,212
1,328
+16.2%
Total assets
8,237
7,670
7,437
+7.4%
10-K for the year ended 31 May 2021, filed 28 July 2021: the filing.