Cintas Corporation (CTAS)

Days of sales outstanding (DSO)

		May 31, 2025	Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020
Receivables turnover		7.30	7.25	7.20	7.54	7.71	7.46	7.22	7.51	7.65	7.58	7.29	7.50	7.64	7.11	6.98	7.74	7.70	6.99	7.17	8.10
DSO	days	50.03	50.32	50.72	48.40	47.32	48.95	50.58	48.60	47.74	48.18	50.09	48.65	47.77	51.32	52.28	47.15	47.39	52.23	50.91	45.04

May 31, 2025 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 7.30
= 50.03

The analysis of Cintas Corporation’s Days of Sales Outstanding (DSO) over the specified periods reveals a generally stable trend with moderate fluctuations. Starting from approximately 45.04 days as of August 31, 2020, the DSO increased gradually over the subsequent periods, reaching around 50.91 days by November 30, 2020. This upward movement continued, with notable peaks observed at 52.28 days on November 30, 2021, and a similar level of around 52.28 days at that point, indicating a slight elongation in the average collection period during this timeframe.

Throughout 2022 and into 2023, the DSO fluctuated within a relatively narrow range, approximately 47.77 to 51.32 days, suggesting periods of slight improvement and deterioration in collection efficiency. The highest recorded DSO in this window was 51.32 days on February 28, 2022, after which it mostly remained within the low to mid-50-day range.

From late 2023 onward, there is evidence of continued stability with minor variations around the 48 to 50-day mark. The latest data point, as of February 28, 2025, indicates a DSO of approximately 50.32 days, aligning with the historical trend.

Overall, the DSO demonstrates a consistent pattern of approximately 48 to 52 days over the examined period, reflecting a steady collection cycle that has experienced only minor increases or decreases. The slight fluctuations in DSO suggest that while the company maintains a relatively stable receivables collection process, market or operational factors might have caused intermittent shifts in collection timing. Nonetheless, the long-term stability indicates effective management aligned with industry norms for collection periods.