Cintas (CTAS) FY2023 results: revenue $8.8 billion, up 12.2% on the year
Cintas Corp. (CTAS) reported revenue of $8.8 billion for fiscal 2023, the year ended 31 May 2023, up 12.2% on the year before. Net income was $1.3 billion, up 9.1%, and diluted earnings per share $3.25. The figures are the company's own, from the 10-K it filed with the SEC on 27 July 2023.
Revenue
$8.8 billion
+12.2% on the year
FY2016FY2023
Operating margin
20.4%
20.2% a year earlier
FY2016FY2023
Net income
$1.3 billion
+9.1% on the year
FY2016FY2023
Diluted EPS
$3.25
+11.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,586
1,538
1,361
+3.2%
Capital expenditure
331
241
143
+37.6%
Free cash flow
1,255
1,297
1,217
-3.2%
Free cash flow margin
14.2%
16.5%
17.1%
Cash from investing
-382
-403
-137
Cash from financing
-1,167
-1,538
-880
Depreciation and amortisation
409
400
388
+2.4%
Share-based compensation
104
109
112
-5.2%
Buybacks
399
1,526
554
-73.9%
Dividends paid
450
375
451
+19.9%
Dividend per share
$1.15
$0.95
$1.25
+21.1%
Diluted shares, weighted
414m
422m
431m
-2.0%
Shares outstanding at period end
407m
407m
416m
+0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,864
3,308
3,688
+16.8%
Debt
2,500
2,811
2,550
-11.1%
Operating lease liabilities
138
129
131
+7.1%
Other liabilities
2,044
1,899
1,868
+7.7%
Total liabilities and equity
8,546
8,147
8,237
+4.9%
Fixed assets
1,396
1,324
1,318
+5.5%
Goodwill
3,056
3,043
2,913
+0.4%
Intangible assets
701
719
720
-2.5%
Cash and equivalents
124
90.5
494
+37.2%
Receivables
1,153
1,006
902
+14.6%
Inventory
507
472
482
+7.3%
Other assets
1,609
1,493
1,408
+7.8%
Total assets
8,546
8,147
8,237
+4.9%
10-K for the year ended 31 May 2023, filed 27 July 2023: the filing.