Price to Earnings (P/E)
since 2005
Calculation
Cintas Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 25, 2024 | 48.40 | = | 188.71 | ÷ | 3.90 | 3.90 | = | 1,571,592 | ÷ | 403,075,724 | |
| Jul 27, 2023 | 38.08 | = | 126.14 | ÷ | 3.31 | 3.31 | = | 1,348,010 | ÷ | 406,966,256 | |
| Jul 27, 2022 | 33.51 | = | 102.31 | ÷ | 3.05 | 3.05 | = | 1,235,757 | ÷ | 404,752,344 | |
| Jul 28, 2021 | 36.18 | = | 97.59 | ÷ | 2.70 | 2.70 | = | 1,110,968 | ÷ | 411,868,980 | |
| Jul 29, 2020 | 36.13 | = | 76.45 | ÷ | 2.12 | 2.12 | = | 876,037 | ÷ | 413,996,048 | |
| Jul 26, 2019 | 30.30 | = | 65.42 | ÷ | 2.16 | 2.16 | = | 884,981 | ÷ | 409,948,156 | |
| Jul 27, 2018 | 25.86 | = | 51.26 | ÷ | 1.98 | 1.98 | = | 842,586 | ÷ | 425,117,228 | |
| Jul 31, 2017 | 29.58 | = | 33.71 | ÷ | 1.14 | 1.14 | = | 480,708 | ÷ | 421,743,460 | |
| Jul 29, 2016 | 16.12 | = | 26.82 | ÷ | 1.66 | 1.66 | = | 693,520 | ÷ | 416,829,964 | |
| Jul 30, 2015 | 21.83 | = | 21.32 | ÷ | 0.98 | 0.98 | = | 430,618 | ÷ | 440,845,436 | |
| Jul 30, 2014 | 19.71 | = | 15.85 | ÷ | 0.80 | 0.80 | = | 374,442 | ÷ | 465,614,752 | |
| Jul 30, 2013 | 18.32 | = | 11.81 | ÷ | 0.64 | 0.64 | = | 315,442 | ÷ | 489,281,632 | |
| Jul 30, 2012 | 16.78 | = | 9.87 | ÷ | 0.59 | 0.59 | = | 297,637 | ÷ | 506,119,452 | |
| Jul 29, 2011 | 17.30 | = | 8.14 | ÷ | 0.47 | 0.47 | = | 246,989 | ÷ | 524,819,032 | |
| Jul 30, 2010 | 18.77 | = | 6.62 | ÷ | 0.35 | 0.35 | = | 215,620 | ÷ | 611,479,392 | |
| Jul 30, 2009 | 17.04 | = | 6.31 | ÷ | 0.37 | 0.37 | = | 226,357 | ÷ | 611,160,680 | |
| Jul 30, 2008 | 13.20 | = | 7.20 | ÷ | 0.55 | 0.55 | = | 335,405 | ÷ | 614,764,412 | |
| Jul 30, 2007 | 17.40 | = | 9.17 | ÷ | 0.53 | 0.53 | = | 334,538 | ÷ | 634,806,076 | |
| Aug 11, 2006 | 17.44 | = | 8.88 | ÷ | 0.51 | 0.51 | = | 327,178 | ÷ | 642,652,472 | |
| Aug 15, 2005 | 24.24 | = | 10.82 | ÷ | 0.45 | 0.45 | = | 300,518 | ÷ | 673,296,744 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Cintas Corp. Annual Report.
The analysis of the financial data reveals several notable trends over the period from 2005 to 2024. Share price, earnings per share (EPS), and the price-to-earnings (P/E) ratio were examined to assess overall market valuation and company performance.
- Share Price
- The share price demonstrated an overall upward trajectory, increasing significantly from $10.82 in 2005 to $188.71 in 2024. There were fluctuations in the early years, with prices dropping from $10.82 in 2005 to a low of $6.31 in 2009, possibly indicating challenges during that period. From 2010 onwards, the share price showed consistent growth, especially accelerating after 2013, reflecting increasing investor confidence and positive market sentiment.
- Earnings per Share (EPS)
- EPS showed a gradual increase over the entire period, beginning at $0.45 in 2005 and rising to $3.90 in 2024. This suggests steady improvements in the company’s profitability. Some minor declines were noted, such as in 2009 and 2010 where EPS dropped to $0.37 and $0.35 respectively, aligning with the global financial challenges. Noteworthy growth in EPS occurred after 2014, with occasional volatility, but the overall trend remained positive, supporting the share price gains.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio displayed more variability. Initially, it declined from 24.24 in 2005 to approximately 13.20 in 2008, reflecting a decrease in market valuation relative to earnings during that timeframe. Post-2008, the ratio generally increased, reaching a peak of 48.40 in 2024. This rise indicates that investors were willing to pay more for each dollar of earnings over time, which could suggest market optimism regarding future growth prospects. However, the P/E ratio also experienced notable fluctuations, for example, a spike to 29.58 in 2017 and a high of 38.08 in 2023, potentially reflecting periods of revaluation or shifts in investor sentiment.
In summary, the data indicates strong share price growth supported by improving earnings per share, with the market valuation multiples increasing over time, especially in recent years. The company has shown resilience during macroeconomic downturns and has gained increasing investor confidence, as reflected by rising P/E ratios and robust share price appreciation.
Comparison to Industry (Industrials)
Cintas Corp., P/E, long-term trends, comparison to industry (industrials)
| Cintas Corp. | Industrials | |
|---|---|---|
| Jul 25, 2024 | 48.40 | 28.42 |
| Jul 27, 2023 | 38.08 | 24.85 |
| Jul 27, 2022 | 33.51 | 36.06 |
| Jul 28, 2021 | 36.18 | 35.59 |
| Jul 29, 2020 | 36.13 | — |
| Jul 26, 2019 | 30.30 | 43.95 |
| Jul 27, 2018 | 25.86 | 33.70 |
| Jul 31, 2017 | 29.58 | 29.83 |
| Jul 29, 2016 | 16.12 | 22.92 |
| Jul 30, 2015 | 21.83 | 22.89 |
| Jul 30, 2014 | 19.71 | 18.79 |
| Jul 30, 2013 | 18.32 | 19.13 |
| Jul 30, 2012 | 16.78 | 17.77 |
| Jul 29, 2011 | 17.30 | 15.75 |
| Jul 30, 2010 | 18.77 | 18.72 |
| Jul 30, 2009 | 17.04 | 19.17 |
| Jul 30, 2008 | 13.20 | 9.73 |
| Jul 30, 2007 | 17.40 | 16.93 |
| Aug 11, 2006 | 17.44 | 11.65 |
| Aug 15, 2005 | 24.24 | 50.62 |
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).