Cintas Corporation (CTAS) 2025 Financial Results Summary
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Cintas Corporation (CTAS) Q2 2026 Financial Results Summary
Cincinnati, December 18, 2025 — Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2026 second quarter ended November 30, 2025. Below is a summary of the key financial metrics and developments from the report.
Financial Highlights
- Revenue
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Total revenue for Q2 FY2026: $2.80 billion
- Increase of 9.3% compared to $2.56 billion in Q2 FY2025.
- Revenue growth included a 0.7% contribution from acquisitions.
- Organic revenue growth (excluding acquisitions and currency fluctuations): 8.6%.
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Gross Margin
- Gross margin: $1.41 billion for Q2 FY2026, up 10.6% from $1.28 billion in Q2 FY2025.
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Gross margin as a percentage of revenue: 50.4%, an increase of 60 basis points from 49.8% a year earlier.
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Operating Income
- Operating income: $655.7 million, growing 10.9% from $591.4 million in the same quarter last year.
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Operating income margin: 23.4% versus 23.1% in Q2 FY2025.
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Net Income
- Net income: $495.3 million, reflecting an increase of 10.4% compared to $448.5 million in Q2 FY2025.
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Effective tax rate for Q2 FY2026 was 21.2%, slightly up from 20.7% in Q2 FY2025.
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Earnings Per Share (EPS)
- Diluted EPS: $1.21, representing an 11.0% increase from $1.09 in the same quarter last year.
Shareholder Returns
- Cintas declared a quarterly dividend of $180.7 million paid on December 15, 2025.
- Total capital returned to shareholders in the first six months of fiscal 2026 (including share buybacks): $1.24 billion.
- Share Repurchase Program:
- During Q2 FY2026 and through December 17, 2025, Cintas repurchased shares for a total purchase price of $622.5 million.
Forward Guidance
- For the fiscal year 2026, Cintas has raised its revenue projections:
- New revenue guidance: $11.15 billion to $11.22 billion, up from $11.06 billion to $11.18 billion.
- Diluted EPS guidance increased to $4.81 to $4.88, from the previous range of $4.74 to $4.86.
Additional Insights
- The gross margin metrics for both segments are as follows:
- Uniform rental and facility services gross margin:
- Q2 FY2026: 49.8%
- Q2 FY2025: 49.1%
- Other gross margin:
- Q2 FY2026: 52.5%
- Q2 FY2025: 52.6%
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Total gross margin:
- Q2 FY2026: 50.4%
- Q2 FY2025: 49.8%
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Net income margin for Q2 FY2026 is 17.7%, compared to 17.5% a year ago.
Conclusion
Cintas Corporation demonstrated strong financial performance in the second quarter of fiscal 2026, with significant increases in revenue, gross margin, and net income compared to the same period in the previous year. The company also affirmed its commitment to returning value to shareholders through dividends and share repurchases while updating its revenue and EPS guidance for the fiscal year ahead.
| Three Months Ended | % Change | ||
|---|---|---|---|
| November 30, 2025 | November 30, 2024 | ||
| Revenue: | |||
| Uniform rental and facility services | 2,155,400 | 1,990,410 | 8.3% |
| Other | 644,592 | 571,373 | 12.8% |
| Total revenue | 2,799,992 | 2,561,783 | 9.3% |
| Costs and expenses: | |||
| Cost of uniform rental and facility services | 1,081,218 | 1,014,052 | 6.6% |
| Cost of other | 306,289 | 271,028 | 13.0% |
| Selling and administrative expenses | 756,771 | 685,313 | 10.4% |
| Operating income | 655,714 | 591,390 | 10.9% |
| Interest income | -866 | -962 | (10.0)% |
| Interest expense | 28,076 | 26,665 | 5.3% |
| Income before income taxes | 628,504 | 565,687 | 11.1% |
| Income taxes | 133,161 | 117,192 | 13.6% |
| Net income | 495,343 | 448,495 | 10.4% |
| Basic earnings per share | 1.23 | 1.11 | 10.8% |
| Diluted earnings per share | 1.21 | 1.09 | 11.0% |
| Basic weighted average common shares outstanding | 401,484 | 403,581 | |
| Diluted weighted average common shares outstanding | 406,433 | 410,667 |
| November 30, 2025 | May 31, 2025 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 200,842 | 263,973 |
| Accounts receivable, net | 1,484,328 | 1,417,381 |
| Inventories, net | 447,611 | 447,408 |
| Uniforms and other rental items in service | 1,213,499 | 1,137,361 |
| Prepaid expenses and other current assets | 193,808 | 170,046 |
| Total current assets | 3,540,088 | 3,436,169 |
| Property and equipment, net | 1,702,887 | 1,652,474 |
| Investments | 386,281 | 339,518 |
| Goodwill | 3,483,504 | 3,400,227 |
| Service contracts, net | 297,729 | 309,828 |
| Operating lease right-of-use assets, net | 254,064 | 224,383 |
| Other assets, net | 468,328 | 462,642 |
| 10,132,881 | 9,825,241 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 503,273 | 485,109 |
| Accrued compensation and related liabilities | 167,872 | 229,538 |
| Accrued liabilities | 797,710 | 875,077 |
| Income taxes, current | 3,654 | 4,034 |
| Operating lease liabilities, current | 52,726 | 50,744 |
| Debt due within one year | 550,750 | — |
| Total current liabilities | 2,075,985 | 1,644,502 |
| Long-term liabilities: | ||
| Debt due after one year | 2,426,529 | 2,424,999 |
| Deferred income taxes | 495,341 | 471,740 |
| Operating lease liabilities | 207,060 | 178,738 |
| Accrued liabilities | 472,619 | 420,781 |
| Total long-term liabilities | 3,601,549 | 3,496,258 |
| Shareholders’ equity: | ||
| Preferred stock, no par value: | — | — |
| Common stock, no par value, and paid-in capital: | 2,743,927 | 2,593,479 |
| Retained earnings | 12,421,850 | 11,798,451 |
| Treasury stock: | -10,778,156 | -9,791,838 |
| Accumulated other comprehensive income | 67,726 | 84,389 |
| Total shareholders’ equity | 4,455,347 | 4,684,481 |
| 10,132,881 | 9,825,241 |