Total Asset Turnover
since 2005
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Calculation
Cintas Corp., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenue1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| 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
- Revenue Trends
- Revenue demonstrates a generally increasing trend over the examined period, rising from approximately 3,067 million US dollars in 2005 to nearly 9,597 million US dollars in 2024. There is a noticeable dip around 2009 and 2010, with revenue decreasing from 3,938 million to roughly 3,547 million US dollars, likely reflecting external economic pressures. After 2010, revenue recovers steadily, with accelerated growth from 2017 onward, reaching its highest value in the most recent year.
- Total Assets Trends
- Total assets follow an upward trajectory overall, moving from around 3,060 million US dollars in 2005 to approximately 9,169 million US dollars in 2024. Some fluctuations are observed, notably a decrease between 2010 and 2012, where assets declined from about 4,369 million to 4,161 million US dollars. A significant increase occurs between 2016 and 2017, going from roughly 4,104 million to 6,844 million US dollars, indicating possible asset acquisitions or revaluations. Asset growth stabilizes but remains on an upward path thereafter.
- Total Asset Turnover Analysis
- Total asset turnover ratios exhibit variability throughout the period, beginning at 1.00 in 2005 and experiencing minor fluctuations. The ratio dips below 1.00 during 2009 and 2010, reaching lows of approximately 0.89 and 0.88, coinciding with the revenue dip and asset growth patterns. A peak of 1.20 occurs in 2016, indicating improved efficiency in generating revenue from assets that year. However, following a steep drop in 2017 to 0.78—likely related to the significant asset increase—turnover ratios gradually recover to around 1.05 by 2024, suggesting a return toward optimal asset utilization.
- Overall Financial Insights
- The company illustrates steady expansion in both revenue and asset base over the long term, punctuated by short-term disruptions possibly linked to macroeconomic factors. Efficiency in asset utilization, as measured by total asset turnover, shows sensitivity to changes in asset volume and economic conditions but generally aligns with revenue growth trends. Periods of asset accumulation, especially in the mid-2010s, appear to temporarily reduce turnover ratios, with subsequent improvements indicating effective integration of new assets into productive operations.
Comparison to Industry (Industrials)
Cintas Corp., total asset turnover, 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).