CINTAS CORP (CTAS)

Cintas Corporation, a Washington corporation founded in 1968 by Richard T. Farmer, provides products and services that help more than one million businesses, primarily in the United States and also in Canada and Latin America, keep their facilities and employees clean, safe and looking their best. Its offerings include uniforms, mats, mops, shop towels, restroom supplies, workplace water services, first aid and safety products, automated external defibrillators, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm testing. On March 10, 2026, Cintas agreed to acquire UniFirst Corporation, a North American uniform, workwear, facility service and first aid and safety supplier, in a transaction valued at about $5.5 billion. UniFirst shareholders approved it, and closing is expected in the second half of calendar 2026, subject to conditions.

Cintas has two reportable segments. Uniform Rental and Facility Services (fiscal 2026 revenue of $8.62 billion) covers the rental and servicing of uniforms and other garments, including flame resistant clothing, plus mats, mops, shop towels, restroom cleaning services and supplies, and catalog item sales to customers on route. First Aid and Safety Services ($1.39 billion) covers first aid and safety products and services and workplace water services. The Fire Protection Services and Uniform Direct Sale operating segments are reported in All Other ($1.25 billion). Total revenue for the fiscal year ended May 31, 2026 was $11.26 billion, up from $10.34 billion in 2025 and $9.60 billion in 2024.

Customers range from small service and manufacturing companies to major corporations employing thousands of people, and no single customer accounts for more than one percent of revenue. The U.S. generates over 90% of consolidated revenue, and foreign operations are primarily in Canada. The markets are local and highly fragmented. Cintas competes with national, regional and local providers, large national and small local retailers, and companies with a significant online presence, and some businesses perform these services in-house. Competition centers on product, design, price, quality, service and convenience.

Uniform Rental and Facility Services reaches customers through local delivery routes from rental processing plants and branches, while First Aid and Safety Services and All Other use a distribution network, local delivery routes or local representatives. At May 31, 2026, Cintas had about 12,500 delivery routes, 484 operational facilities, 12 distribution centers and roughly 48,100 employee-partners, about 800 of them represented by labor unions. It sources finished products from many outside suppliers bound by a vendor code of conduct, buys fabric from several suppliers, and operates five manufacturing facilities for standard uniforms. It is subject to environmental, health and safety, and data privacy regulation, and spent about $30.0 million on water treatment and waste removal in fiscal 2026.