Short answer
UNIFIRST CORP (UNF) filed its fiscal 2025 10-K annual report with the SEC on Oct 29, 2025. It reported revenue of $2.4B (+0.2% year over year) and net income of $148M.
- Top risk flagged: Mexican federal tax assessment $84.7M disputed since fiscal 2016; Federal Tax Court ruling partial favor in Q1 FY2025
FY2025 key financial metrics · XBRL
- Revenue
- $2.4B
- +0.2% YoY
- Net income
- $148M
- +1.9% YoY
- Operating margin
- 7.6%
- +0.0 pp YoY
- EPS (diluted)
- $7.98
- +2.7% YoY
- ROE
- 6.8%
- −0.1 pp YoY
- Operating cash flow
- $297M
- +0.5% YoY
Source: XBRL data from the UNIFIRST CORP (UNF) FY2025 10-K on SEC EDGAR. USD.
UNIFIRST CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Design, manufacture, rent, clean, deliver, and sell uniforms, protective clothing, facility management products, and safety supplies across North America
- New segment restructuring consolidating six prior segments into three: Uniform & Facility Service Solutions; First Aid & Safety Solutions; Other (nuclear business)
- Strategic shift: Integration of cleanroom operations into Uniform & Facility Service Solutions; renaming First Aid segment to First Aid & Safety Solutions to reflect expanded scope
- Employee count approximately 16,000 as of August 30, 2025, supporting diverse customer base over 300,000 locations in U.S., Canada, Europe
- Manufacturing approximately 62% of garments internally with key plants in Mexico and Nicaragua, plus 99% of mats produced in Arkansas plant
Management Discussion & Analysis
- Revenue $2.432B, up $4.9M (0.2%) YoY; Uniform segment down 0.2% ($2.219B), First Aid segment up 7.8% ($114.6M)
- Operating income $184.5M, up $0.9M (0.5%), operating margin flat at 7.6%
- Best segment: First Aid & Safety Solutions operating income $0.9M vs loss $1.8M prior year; worst: Other segment operating income down 7.6% to $15.1M
- Cash from operations $296.9M, capex $154.3M; repurchased $70.9M shares, dividends increased by $1.3M
- Management emphasizes strong cash position ($209.2M), new $300M credit facility, expects liquidity to cover working capital and capex for 12+ months
Risk Factors
- Mexican federal tax assessment $84.7M disputed since fiscal 2016; Federal Tax Court ruling partial favor in Q1 FY2025
- Energy cost exposure 3.9% of revenue, with volatility in natural gas, gasoline, and electricity impacting operating expenses
- Purchase commitments $132.0M non-cancellable, including inventories and software, concentrated payments of $89.3M due within one year
- Credit facility $300M capacity with $193.3M available; $106.7M in letters of credit outstanding as of August 30, 2025
- Acquisition financing dependent on external debt markets; future borrowings subject to credit market conditions and covenant compliance
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