Analysis of Revenues
Revenues as Reported
Cintas Corp., income statement, revenues
US$ in thousands
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).
- Uniform Rental and Facility Services
- This category demonstrates a consistent upward trend across the six-year period. Revenue increased steadily from approximately 5.55 billion USD in 2019 to about 7.47 billion USD in 2024. Notably, the largest year-over-year increase occurred between 2021 and 2022, indicating robust growth in this segment during that timeframe.
- First Aid and Safety Services
- This segment shows strong and continuous growth as well, starting at around 619 million USD in 2019 and reaching approximately 1.07 billion USD in 2024. The growth rate appears to accelerate after 2020, with particularly significant increases between 2022 and 2023 and then continuing into 2024.
- Fire Protection Services
- Revenue within this service line steadily increased from around 405 million USD in 2019 to roughly 729 million USD in 2024. The highest leap was observed between 2021 and 2022, suggesting an expanding market presence or increased demand within that period.
- Uniform Direct Sale
- This category exhibits a less consistent trajectory. Revenues declined from about 315 million USD in 2019 to 196 million USD in 2021, showing a notable drop during that time. Subsequently, revenues began recovering, increasing to approximately 339 million USD in 2023, before slightly decreasing again to around 335 million USD in 2024. This mixed pattern may suggest fluctuations in sales or market challenges specific to this area.
- Total Revenue
- Total revenue rose steadily from approximately 6.89 billion USD in 2019 to about 9.60 billion USD in 2024. The growth was consistent year over year, with notable acceleration post-2020, aligning with the increases observed in most individual service segments except for Uniform Direct Sale. This overall upward trajectory indicates solid expansion and strengthening financial performance across the company’s operations.