Cintas Corporation (CTAS)

Cash ratio

		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
Cash and cash equivalents	US$ in thousands	263,973	243,428	122,395	101,373	342,015	128,483	85,556	88,126	124,149	88,563	89,799	74,558	90,471	84,136	113,170	79,749	493,640	553,611	703,175	421,542
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	295,268	274,616	264,581	252,454	240,431
Total current liabilities	US$ in thousands	1,644,500	1,941,150	2,007,770	1,984,890	1,828,520	1,273,900	1,357,600	1,168,840	1,230,060	1,388,260	1,553,740	1,599,540	1,432,890	2,623,490	2,177,930	2,269,040	1,934,080	1,270,360	1,508,470	1,093,350
Cash ratio		0.16	0.13	0.06	0.05	0.19	0.10	0.06	0.08	0.10	0.06	0.06	0.05	0.06	0.03	0.05	0.17	0.40	0.64	0.63	0.61

May 31, 2025 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($263,973K + $—K) ÷ $1,644,500K
= 0.16

The cash ratio of Cintas Corporation demonstrates a significant decline from August 31, 2020, through August 31, 2022, with values decreasing from 0.61 to a low of 0.05. During this period, the company’s liquidity position appears to have weakened, indicating a reduced proportion of cash and cash equivalents relative to current liabilities. Notably, the cash ratio experienced fluctuations thereafter, with modest increases observed at certain points—specifically, a slight rise to 0.10 by May 31, 2023, and again to 0.19 by May 31, 2024—though it remained relatively low overall. The most recent data shows a modest increase to 0.16 as of May 31, 2025, suggesting some improvement in liquidity levels; however, the cash ratio continues to remain below 0.20, indicating that the company's ability to meet its short-term obligations solely with cash and cash equivalents remains limited. Overall, the trend reflects a transition from higher liquidity in the initial period to a more conservative liquidity position in the subsequent years, with intermittent periods of marginal recovery.