Net Profit Margin
since 2005
Calculation
Cintas Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income1 | ÷ | Revenue1 | |
|---|---|---|---|---|---|---|---|
| May 31, 2024 | 16.38% | = | 100 | × | 1,571,592) | ÷ | 9,596,615) |
| May 31, 2023 | 15.29% | = | 100 | × | 1,348,010) | ÷ | 8,815,769) |
| May 31, 2022 | 15.73% | = | 100 | × | 1,235,757) | ÷ | 7,854,459) |
| May 31, 2021 | 15.61% | = | 100 | × | 1,110,968) | ÷ | 7,116,340) |
| May 31, 2020 | 12.36% | = | 100 | × | 876,037) | ÷ | 7,085,120) |
| May 31, 2019 | 12.84% | = | 100 | × | 884,981) | ÷ | 6,892,303) |
| May 31, 2018 | 13.01% | = | 100 | × | 842,586) | ÷ | 6,476,632) |
| May 31, 2017 | 9.03% | = | 100 | × | 480,708) | ÷ | 5,323,381) |
| May 31, 2016 | 14.14% | = | 100 | × | 693,520) | ÷ | 4,905,458) |
| May 31, 2015 | 9.62% | = | 100 | × | 430,618) | ÷ | 4,476,886) |
| May 31, 2014 | 8.23% | = | 100 | × | 374,442) | ÷ | 4,551,812) |
| May 31, 2013 | 7.31% | = | 100 | × | 315,442) | ÷ | 4,316,471) |
| May 31, 2012 | 7.26% | = | 100 | × | 297,637) | ÷ | 4,102,000) |
| May 31, 2011 | 6.48% | = | 100 | × | 246,989) | ÷ | 3,810,384) |
| May 31, 2010 | 6.08% | = | 100 | × | 215,620) | ÷ | 3,547,339) |
| May 31, 2009 | 6.00% | = | 100 | × | 226,357) | ÷ | 3,774,685) |
| May 31, 2008 | 8.52% | = | 100 | × | 335,405) | ÷ | 3,937,900) |
| May 31, 2007 | 9.02% | = | 100 | × | 334,538) | ÷ | 3,706,900) |
| May 31, 2006 | 9.61% | = | 100 | × | 327,178) | ÷ | 3,403,608) |
| May 31, 2005 | 9.80% | = | 100 | × | 300,518) | ÷ | 3,067,283) |
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 financial data reveals several key trends over the examined period. Revenue exhibited a consistent upward trajectory from 2005 through 2024, nearly tripling in value from approximately $3.07 billion to $9.6 billion. This steady growth indicates ongoing expansion and robust sales performance, with occasional minor fluctuations around 2014–2015 and 2019–2020 periods, yet maintaining an overall positive trend.
Net income followed a similar growth pattern but with more pronounced volatility. While net income generally trended upward from about $300 million in 2005 to over $1.5 billion in 2024, it experienced dips predominantly during the 2009–2011 period and fluctuated between 2012 and 2017. Notably, a significant jump in net income occurred around 2012–2013, reaching peaks above $800 million in 2018 and subsequently continuing to increase steadily.
Analyzing net profit margin provides insights into profitability efficiency. The margin started at approximately 9.8% in 2005, gradually declined to around 6% during the 2009–2010 period, reflecting a less efficient profit conversion during these years. From 2011 onward, net profit margin improved markedly, exceeding 14% by 2016 and stabilizing around 15–16% in recent years. This improvement suggests enhanced cost control, pricing power, or operational efficiencies that have increased profitability relative to revenue.
- Revenue Trend
- Consistent growth from $3.07 billion to $9.6 billion over the period, indicating steady business expansion.
- Net Income Trend
- Overall increasing trend with variability, including dips around 2009–2011 and growth spurts post-2012, reaching over $1.5 billion by 2024.
- Net Profit Margin Trend
- Declined from about 9.8% to near 6% during 2009–2010, then improved significantly to stabilize near 16% in recent years, reflecting improved profitability.
In summary, the data indicates solid revenue growth accompanied by improving profitability margins despite periods of earnings volatility. The sustained increase in net profit margin in the latter years signals enhanced operational efficiency or strategic improvements that have translated revenue growth into higher profitability. The dips in net income and margin during the late 2000s likely reflect broader economic or company-specific challenges, from which recovery is evidenced by the subsequent upward trends.
Comparison to Industry (Industrials)
Cintas Corp., net profit margin, long-term trends, comparison to industry (industrials)
| Cintas Corp. | Industrials | |
|---|---|---|
| May 31, 2024 | 16.38% | 8.06% |
| May 31, 2023 | 15.29% | 8.32% |
| May 31, 2022 | 15.73% | 5.04% |
| May 31, 2021 | 15.61% | 5.85% |
| May 31, 2020 | 12.36% | 0.09% |
| May 31, 2019 | 12.84% | 4.11% |
| May 31, 2018 | 13.01% | 4.75% |
| May 31, 2017 | 9.03% | 5.79% |
| May 31, 2016 | 14.14% | 7.43% |
| May 31, 2015 | 9.62% | 6.48% |
| May 31, 2014 | 8.23% | 8.76% |
| May 31, 2013 | 7.31% | 8.23% |
| May 31, 2012 | 7.26% | 7.39% |
| May 31, 2011 | 6.48% | 8.26% |
| May 31, 2010 | 6.08% | 7.48% |
| May 31, 2009 | 6.00% | 5.76% |
| May 31, 2008 | 8.52% | 7.27% |
| May 31, 2007 | 9.02% | 9.56% |
| May 31, 2006 | 9.61% | 14.87% |
| May 31, 2005 | 9.80% | 3.55% |
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).