Cintas Corporation (CTAS)

Days of inventory on hand (DOH)

		May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Inventory turnover		11.55	11.97	3.06	3.04	2.94
DOH	days	31.61	30.49	119.39	120.06	124.04

May 31, 2025 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 11.55
= 31.61

The Days of Inventory on Hand (DOH) for Cintas Corporation over the specified period exhibits notable fluctuations. As of May 31, 2021, the DOH stood at 124.04 days, indicating that, on average, inventory was held for approximately four months prior to sale or use. By May 31, 2022, this metric decreased slightly to 120.06 days, reflecting a marginal reduction in inventory holding periods. The downward trend continued into May 31, 2023, with the DOH reaching 119.39 days, suggesting a consistent improvement in inventory turnover.

A significant change is observed in the subsequent year, as of May 31, 2024, when the DOH drastically reduced to 30.49 days. This sharp decline indicates a dramatic acceleration in inventory management efficiency, with Cintas holding inventory for roughly one month. It is worth noting that this level of inventory turnover is markedly higher than historical levels, implying either a strategic shift in inventory policies, improvements in supply chain efficiency, or changes in sales volume.

The data for May 31, 2025, is unavailable, which precludes further trend analysis beyond 2024. Overall, the progression suggests a substantial enhancement in inventory turnover rates from over four months in 2021 to approximately one month in 2024, highlighting operational efficiency improvements or strategic inventory practicesimplemented during this period.