Cintas Corporation (CTAS)
Receivables turnover
| 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 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 9,596,620 | 9,309,430 | 9,089,960 | 8,885,310 | 8,706,250 | 8,509,840 | 8,287,180 | 8,041,620 | 7,777,990 | 7,547,600 | 7,361,590 | 7,193,700 | 7,040,620 | 6,826,590 | 6,884,740 | 6,996,000 | 7,085,120 | 7,259,270 | 7,130,950 | 7,005,470 |
| Receivables | US$ in thousands | 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 | 870,369 | 966,338 | 974,000 | 917,535 |
| Receivables turnover | 7.71 | 7.38 | 7.14 | 7.42 | 7.55 | 7.49 | 7.21 | 7.43 | 7.57 | 7.05 | 6.92 | 7.66 | 7.62 | 6.91 | 7.12 | 8.07 | 8.14 | 7.51 | 7.32 | 7.64 |
May 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $9,596,620K ÷ $1,244,180K
= 7.71
The receivables turnover ratio for Cintas Corporation has demonstrated consistency and stability over the past two years, ranging from 6.91 to 8.14. This indicates that, on average, the company collects its accounts receivable approximately 7 to 8 times per year.
The relatively high receivables turnover ratio suggests that Cintas efficiently manages its accounts receivable by collecting payments from customers in a timely manner. A higher turnover ratio implies that the company is effective in converting its credit sales into cash. This can be indicative of strong credit control practices and effective collection procedures.
Overall, Cintas Corporation's consistent receivables turnover ratios reflect a solid foundation in managing its accounts receivable efficiently, contributing positively to its overall liquidity and cash flow management.
Peer comparison
May 31, 2024