Current Ratio
since 2005
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Calculation
Cintas Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| May 31, 2024 | = | ÷ | |||
| May 31, 2023 | = | ÷ | |||
| May 31, 2022 | = | ÷ | |||
| May 31, 2021 | = | ÷ | |||
| May 31, 2020 | = | ÷ | |||
| May 31, 2019 | = | ÷ | |||
| May 31, 2018 | = | ÷ | |||
| May 31, 2017 | = | ÷ | |||
| May 31, 2016 | = | ÷ | |||
| May 31, 2015 | = | ÷ | |||
| May 31, 2014 | = | ÷ | |||
| May 31, 2013 | = | ÷ | |||
| May 31, 2012 | = | ÷ | |||
| May 31, 2011 | = | ÷ | |||
| May 31, 2010 | = | ÷ | |||
| May 31, 2009 | = | ÷ | |||
| May 31, 2008 | = | ÷ | |||
| May 31, 2007 | = | ÷ | |||
| May 31, 2006 | = | ÷ | |||
| May 31, 2005 | = | ÷ |
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), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
1 US$ in thousands
The analysis of the financial data reveals several notable trends related to liquidity and working capital management over the observed periods.
- Current Assets
- Current assets show a general upward trajectory from approximately 1,166 million US dollars in 2005 to over 3,185 million US dollars in 2024. The growth is not strictly linear, with some fluctuations observed, particularly around 2012 where current assets declined relative to prior years, before resuming growth. The most significant increases are evident from 2016 onward, indicating potential expansion or accumulation of more liquid resources.
- Current Liabilities
- Current liabilities have similarly increased over the period but with more volatility. From around 356 million US dollars in 2005, they rise inconsistently with notable spikes in 2012 and again around 2021, reaching approximately 1,829 million US dollars by 2024. The fluctuations suggest periods of increased short-term obligations, possibly reflecting operational or financing dynamics that temporarily heightened liabilities.
- Current Ratio
- The current ratio, a key liquidity indicator, demonstrates a downward trend from a very strong position of 3.27 in 2005 to lower and more variable levels in later years. Between 2005 and 2011, the ratio mostly remains above 2.5, indicating robust short-term liquidity. However, starting from 2012, the ratio declines significantly, reaching a low of 1.47 in 2021, which suggests tighter liquidity conditions and potentially increased risk in meeting short-term obligations.
- Despite this decline, some recovery is noticeable post-2021, with the ratio improving to 2.39 in 2023 before falling again to 1.74 in 2024. This variability may reflect strategic changes in working capital management or shifts in the operating environment affecting current assets and liabilities balance.
Overall, while the company has grown its current assets substantially, the faster or more volatile increase in current liabilities has resulted in a diminishing liquidity cushion over time. This trend points to a gradual reduction in short-term financial flexibility, warranting careful monitoring and potentially more conservative management of working capital to ensure sustainable liquidity.
Comparison to Industry (Industrials)
Cintas Corp., current ratio, long-term trends, comparison to industry (industrials)
| Cintas Corp. | Industrials | |
|---|---|---|
| May 31, 2024 | ||
| May 31, 2023 | ||
| May 31, 2022 | ||
| May 31, 2021 | ||
| May 31, 2020 | ||
| May 31, 2019 | ||
| May 31, 2018 | ||
| May 31, 2017 | ||
| May 31, 2016 | ||
| May 31, 2015 | ||
| May 31, 2014 | ||
| May 31, 2013 | ||
| May 31, 2012 | ||
| May 31, 2011 | ||
| May 31, 2010 | ||
| May 31, 2009 | ||
| May 31, 2008 | ||
| May 31, 2007 | ||
| May 31, 2006 | ||
| May 31, 2005 |
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), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).