Cintas Posts Record $11.3B Revenue, Updates on $5.5B UniFirst Deal
CTAS sits 35% above its 52-week low of $161.16.
Summary
Cintas' annual report shows record revenue and earnings, with the $5.5B UniFirst acquisition on track for a second-half 2026 close. Strong cash flow and a new credit facility support the deal and shareholder returns.
Key Events · Earnings and Guidance · CTAS
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Record Fiscal 2026 Results
Revenue grew 8.9% to $11.3B, net income rose 10.4% to $2.0B, and diluted EPS reached $4.91. Organic growth was 8.3%, with all segments contributing.
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UniFirst Acquisition Update
The $5.5B deal received UniFirst shareholder approval on June 12, 2026. The FTC issued a Second Request; closing is expected in the second half of calendar 2026. Cintas incurred $16.1M in transaction expenses.
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Liquidity and Financing
Operating cash flow was $2.3B. A new $2.0B revolving credit facility was entered, and a $2.85B bridge facility is committed for the acquisition. No borrowings were outstanding under either facility at year-end.
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Capital Returns
Dividends increased to $0.45/quarter ($1.80 annualized). $952M was spent on share repurchases in fiscal 2026, with $1.5B remaining under authorized buyback programs.
Analysis · CTAS · Manufacturing
Cintas delivered a strong fiscal 2026 with revenue up 8.9% to $11.3 billion and diluted EPS of $4.91, driven by broad-based organic growth. The 10-K also provides the most detailed update yet on the pending $5.5 billion UniFirst acquisition, confirming shareholder approval and an FTC Second Request, with closing expected in the second half of calendar 2026. The company secured a new $2.0 billion revolving credit facility and has $1.5 billion remaining under buyback authorizations, signaling ample liquidity to fund the deal and return capital. No red flags: clean audit opinion, effective internal controls, and no going concern issues.
At the time of this filing, CTAS was trading at $216.91 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $86.8B. The 52-week trading range was $161.16 to $226.75. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.