Cintas Corporation (CTAS)
Cash ratio
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 342,015 | 124,149 | 90,471 | 493,640 | 145,402 |
| Short-term investments | US$ in thousands | — | — | — | 274,616 | — |
| Total current liabilities | US$ in thousands | 1,828,520 | 1,230,060 | 1,432,890 | 1,934,080 | 885,195 |
| Cash ratio | 0.19 | 0.10 | 0.06 | 0.40 | 0.16 |
May 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($342,015K
+ $—K)
÷ $1,828,520K
= 0.19
The cash ratio of Cintas Corporation has shown fluctuations over the past five years. In the fiscal year ending May 31, 2024, the cash ratio increased to 0.19 from 0.10 in the previous year, indicating an improvement in the company's ability to cover its short-term liabilities with its cash and cash equivalents.
However, compared to two years ago, the cash ratio remains lower, as it was 0.40 in May 31, 2022. This suggests that the company may have less cash available relative to its current liabilities.
Overall, the cash ratio of Cintas Corporation has varied over the years, reflecting changes in the company's liquidity position and ability to meet its short-term obligations with its available cash resources. Investors and analysts may want to monitor this ratio closely to assess the company's financial health and liquidity management.
Peer comparison
May 31, 2024