Short answer
Cintas (CTAS) filed its fiscal 2026 10-K annual report with the SEC on Jul 29, 2026. It reported revenue of $11.3B (+8.9% year over year) and net income of $2.0B.
- Top risk flagged: Regulatory/legal risk: Hart-Scott-Rodino Antitrust Improvements Act, pending regulatory approval for $5.5B UniFirst acquisition announced Mar 10, 2026
FY2026 key financial metrics · XBRL
- Revenue
- $11.3B
- +8.9% YoY
- Net income
- $2.0B
- +10.4% YoY
- Operating margin
- 23.1%
- +0.3 pp YoY
- Gross margin
- 50.7%
- +0.6 pp YoY
- EPS (diluted)
- $4.91
- +11.6% YoY
- ROE
- 38.9%
- +0.2 pp YoY
- Operating cash flow
- $2.3B
- +5.1% YoY
Source: XBRL data from the Cintas (CTAS) FY2026 10-K on SEC EDGAR. USD.
Cintas FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Provision of uniform rental, facility services, first aid, safety products, and related services to over one million businesses primarily in North America
- New emphasis: Pending $5.5 billion acquisition of UniFirst, expanding footprint in uniform/workwear and facility service products
- Strategic shift: Enhanced scale and market position via merger anticipated to close in H2 2026
- Notable metric: Fiscal 2026 revenue $11.3B, up 9% from $10.3B in 2025, with 484 operational facilities and ~12,500 local delivery routes
- Unique fact: UniFirst shareholders approved the merger, combining two leading competitors in uniform and safety service markets
Management Discussion & Analysis
- Revenue $11.3B, up 8.9% YoY; Uniform Rental $8.62B (+8.1%), Other segments $2.64B (+11.8%)
- Operating margin 23.1% vs 22.8%; Uniform Rental margin 24.1% vs 23.5%, First Aid margin 25.4% vs 24.2%
- Best performing: First Aid and Safety segment operating income +19.9% to $353.4M; Worst: All Other segment margin down to 15.3% from 16.7%
- Operating cash flow $2.28B (+5.1%); CapEx $395M; Share repurchases $952M; Dividends paid $701.5M (+15%)
- UniFirst acquisition pending ($5.5B deal); management expects sufficient liquidity, notes inflation mitigated by pricing and efficiencies
Risk Factors
- Regulatory/legal risk: Hart-Scott-Rodino Antitrust Improvements Act, pending regulatory approval for $5.5B UniFirst acquisition announced Mar 10, 2026
- Geopolitical/macroeconomic threat: Foreign currency exposures <10% of revenue and operating income, with modest impact on consolidated results
- Operational/supply chain risk: Rising cost of material and labor in Uniform Rental segment increased cost of sales by 6.7% year-over-year
- Competitive/market disruption risk: UniFirst merger could shift competitive dynamics with overlap in uniform, facility, first aid markets; integration risks noted
- Financial/structural risk: $2.4B senior notes maturing 2027; $2B revolving credit facility with covenants requiring maintenance of debt to EBITDA ratio
Generated from the filing text; verify against the original. How to read a 10-K
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