Summary
Cintas Corporation's 2013 10-K filing reveals a company experiencing consistent revenue growth, primarily driven by its core Rental Uniforms and Ancillary Products segment. The company demonstrated resilience with a 5.2% increase in total revenue to $4.3 billion, supported by strong organic growth and strategic acquisitions, particularly in the First Aid, Safety and Fire Protection Services and Document Management segments. Net income also saw a healthy increase of 6.0% to $315.4 million. Investors will note Cintas' commitment to shareholder returns, evidenced by its 30th consecutive year of dividend increases. The company also actively engaged in share repurchases, reducing outstanding shares and contributing to a 11.0% increase in diluted earnings per share. Despite facing competitive pressures and potential economic headwinds, Cintas' diversified business model, operational efficiencies, and focus on customer relationships position it for continued stability and growth.
Financial Highlights
54 data points| Revenue | $4.25B |
| Gross Profit | $1.75B |
| SG&A Expenses | $1.19B |
| Operating Income | $565.98M |
| Interest Expense | $65.71M |
| Net Income | $315.44M |
| EPS (Basic) | $0.63 |
| EPS (Diluted) | $0.63 |
| Shares Outstanding (Basic) | 495.82M |
| Shares Outstanding (Diluted) | 498.12M |
Key Highlights
- 1Total revenue for fiscal year 2013 reached $4.3 billion, a 5.2% increase from the prior year, driven by 4.9% organic growth.
- 2The Rental Uniforms and Ancillary Products segment remains the largest revenue generator, accounting for 70.5% of total revenue.
- 3Net income increased by 6.0% to $315.4 million, and diluted earnings per share grew by 11.0% to $2.52, partly due to share repurchases.
- 4Cintas continues its tradition of returning capital to shareholders, marking its 30th consecutive year of increasing its annual dividend.
- 5The company made strategic acquisitions in its First Aid, Safety and Fire Protection Services and Document Management Services segments, contributing to overall revenue growth.
- 6Cintas maintained effective internal controls over financial reporting, as attested by its independent auditors, Ernst & Young LLP.
- 7The company's financial position remains strong, with $352.3 million in cash and cash equivalents at the end of fiscal year 2013.