Cintas Corporation (CTAS)

Receivables turnover

		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
Revenue (ttm)	US$ in thousands	10,340,180	10,143,470	9,940,480	9,755,880	9,596,620	9,410,150	9,193,970	8,991,650	8,815,770	8,605,990	8,376,540	8,123,960	7,854,460	7,615,430	7,431,950	7,266,720	7,116,350	6,900,270	6,933,860	7,020,560
Receivables	US$ in thousands	1,417,380	1,398,490	1,381,410	1,293,790	1,244,180	1,262,080	1,273,970	1,197,340	1,152,990	1,136,090	1,149,490	1,082,780	1,027,930	1,070,680	1,064,580	938,609	923,992	987,421	967,068	866,414
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

May 31, 2025 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $10,340,180K ÷ $1,417,380K
= 7.30

The receivables turnover ratio for Cintas Corporation demonstrates a generally stable pattern over the observed period from August 2020 through May 2025. Starting at 8.10 times in August 2020, the ratio experienced a decline, reaching a low of approximately 6.98 in November 2021. Subsequently, the ratio largely fluctuated within a narrow range, generally staying between 7.10 and 7.70 times.

This pattern indicates that the company's efficiency in collecting accounts receivable has remained relatively consistent, with no significant long-term upward or downward trends. The slight variations suggest a stable credit and collections policy, with minor fluctuations possibly attributable to seasonal factors, operational adjustments, or changes in customer payment behaviors.

Overall, Cintas' receivables turnover ratio can be characterized by its persistent stability, reflecting a predictable receivables collection cycle typical of a well-managed accounts receivable process within the company's operational framework.