Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Cintas Corp., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).
The financial data reflects a dynamic pattern in various asset components over the observed quarters.
- Liquidity and Cash Position
- Cash and cash equivalents exhibit significant volatility. After a notable peak in November 2020, the cash position declined sharply by mid-2021, reaching lower levels in the subsequent periods. However, another marked increase occurs towards mid-2024, indicating periodic adjustments in liquidity management or cash inflow timing.
- Receivables Trends
- Accounts receivable, net, display a general upward trend throughout the periods, growing steadily with minor fluctuations. This consistent increase suggests expanding sales or service activities, with growing amounts receivable, possibly reflecting business growth or lengthening collection periods.
- Inventory Levels
- Inventories, net, show an initial increase reaching a peak around late 2020, followed by a steady decline through 2024. This pattern could indicate efforts towards inventory optimization or shifts in demand and supply chain management.
- Rental Assets Utilization
- Uniforms and other rental items in service increase steadily over time, highlighting growth in rental asset deployment. The consistent rise supports a possible expansion strategy in rental services or increased customer base requiring these assets.
- Tax Payments
- Current income taxes show irregular and inconsistent values with several missing data points, making trend analysis difficult. There is a notable spike in late 2021, followed by periods of missing or low values, possibly due to tax timing differences or adjustments.
- Prepaid and Other Current Assets
- Prepaid expenses and other current assets maintain a fluctuating but generally increasing trend, pointing towards variable prepayments and other short-term asset management practices aligning with operational needs.
- Current Assets
- Total current assets trend upwards significantly until late 2020, peaking at over 3.1 billion US dollars, then show some decline but maintain high levels into 2024. This pattern reflects strong current asset growth, tied to increases in cash, receivables, and inventories earlier in the period.
- Property and Equipment
- Property and equipment, net, show a gradual decline from early 2018 through the end of 2021, with a subsequent turnaround and steady growth thereafter. This suggests depreciation impact initially, followed by new investments or capital expenditures increasing the asset base post-2021.
- Investments
- Investments steadily increase throughout the periods with minor dips, indicating ongoing capital allocation towards investment instruments or strategic asset purchases contributing to the noncurrent asset base.
- Goodwill
- Goodwill remains relatively stable with slight incremental increases, notably rising in early 2022 and continuing a modest upward trajectory through 2024. This suggests occasional acquisitions or valuation adjustments.
- Service Contracts
- Service contracts, net, display a consistent downward trend over the entire period, potentially reflecting contract expirations, renegotiations, or decreased service agreement values.
- Operating Lease Assets
- Operating lease right-of-use assets appear from 2019 onwards and remain relatively stable with mild fluctuations, indicating steady lease asset recognition and utilization.
- Other Assets
- Other assets, net, show a continuous upward trajectory, reflecting increasing noncurrent miscellaneous assets or capitalized costs contributing positively to the overall asset base.
- Noncurrent Assets
- Noncurrent assets fluctuate slightly around a generally stable to moderately increasing level, reflecting combined effects of depreciation, investment, and asset growth strategies.
- Total Assets
- Total assets display an overall upward trend despite some fluctuations, growing from approximately 7.3 billion US dollars in August 2018 to over 9.3 billion by late 2024. This indicates sustained company growth and asset base expansion supported by increases in current and noncurrent assets.