10-KPeriod: FY2026

CINTAS CORP Annual Report, Year Ended May 31, 2026

Filed July 29, 2026For Securities:CTAS

Summary

Cintas Corporation's 2026 10-K filing reveals a strong fiscal year characterized by robust revenue growth and significant strategic progress. The company's core Uniform Rental and Facility Services segment continues to be the primary revenue driver, showing consistent organic growth. A major development is the pending acquisition of UniFirst Corporation, valued at approximately $5.5 billion, which is expected to significantly expand Cintas' market presence and offerings in the uniform and facility services sector. While the acquisition is subject to regulatory approvals and expected to close in the latter half of calendar 2026, the company has incurred transaction expenses related to this deal. Operationally, Cintas demonstrated resilience, with total revenue increasing by 8.9% year-over-year to $11.3 billion. This growth was fueled by increased sales volume and strategic price adjustments across its segments. The company's commitment to operational efficiency is reflected in the slight improvement in gross margin for the Uniform Rental and Facility Services segment. Cintas also continues to focus on human capital, emphasizing talent development, health and safety, and employee wellness, which are integral to its corporate culture and long-term success. The company maintains strong liquidity and has access to substantial credit facilities, positioning it well for ongoing operations and strategic initiatives.

Key Highlights

  • 1Total revenue for fiscal year 2026 reached $11.3 billion, an increase of 8.9% compared to the prior year, driven by organic growth and strategic acquisitions.
  • 2The Uniform Rental and Facility Services segment remains the largest contributor, with revenue increasing 8.1% to $8.62 billion, supported by new business, increased penetration in existing accounts, and price increases.
  • 3Cintas announced a significant pending acquisition of UniFirst Corporation for approximately $5.5 billion, aiming to enhance its market position in uniform and facility services. This transaction is expected to close in the second half of calendar 2026.
  • 4The First Aid and Safety Services segment experienced strong revenue growth of 14.3% to $1.39 billion, driven by increased sales representative productivity, price increases, and customer retention.
  • 5The company maintained effective internal controls over financial reporting, as attested by their independent auditor, Ernst & Young LLP.
  • 6Cintas generated $2.28 billion in net cash from operating activities, reflecting a 5.1% increase year-over-year, underscoring its strong operational cash flow generation.
  • 7The company continues its capital allocation strategy, with $1.0 billion in new share buyback programs authorized, demonstrating a commitment to returning value to shareholders.

Frequently Asked Questions

The most significant strategic development is Cintas' pending acquisition of UniFirst Corporation for approximately $5.5 billion. This acquisition is expected to bolster Cintas' market leadership in the uniform and facility services sector, expanding its reach and service capabilities. The transaction is anticipated to close in the second half of calendar 2026, subject to regulatory approvals and other customary closing conditions.

Cintas reported strong financial performance, with total revenue reaching $11.3 billion, an increase of 8.9% from the previous year. This growth was driven by both organic expansion and strategic acquisitions. Net income also saw a healthy increase of 10.4% to $2.0 billion. The company's core Uniform Rental and Facility Services segment continued its robust growth, while the First Aid and Safety Services segment also showed significant year-over-year revenue increases.

The Uniform Rental and Facility Services segment remains the largest and most stable contributor, showing consistent organic growth through new business acquisition and deeper penetration with existing clients. The First Aid and Safety Services segment demonstrated particularly strong growth, indicating successful expansion and market traction. While the 'All Other' category, which includes fire protection and uniform direct sales, is smaller, it also contributed to the overall revenue increase.

Cintas faces several key risks, including potential disruptions related to the UniFirst acquisition, such as integration challenges, regulatory hurdles, and the possibility that anticipated benefits may not be fully realized. Other risks include negative global economic factors, increased competition, rising labor and material costs, supply chain constraints, and cybersecurity threats. The company also notes risks associated with its substantial indebtedness, especially following the expected UniFirst acquisition.