Cintas Corporation (CTAS)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 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 | 145,402 | 234,441 | 226,535 | 102,131 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | 295,268 | 274,616 | 264,581 | 252,454 | 240,431 | — | — | — | — |
| Total current liabilities | US$ in thousands | 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 | 885,195 | 1,066,650 | 1,297,250 | 1,122,880 |
| Cash ratio | 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 | 0.16 | 0.22 | 0.17 | 0.09 |
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 fluctuated over the past several quarters. The cash ratio measures a company's ability to cover its short-term obligations with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.
In the most recent quarter ending May 31, 2024, the cash ratio was 0.19, showing an improvement compared to the previous quarter. This suggests that Cintas Corporation had a higher proportion of cash and cash equivalents relative to its current liabilities, indicating a stronger liquidity position.
Looking back over the past few quarters, the cash ratio has generally been relatively low, with values ranging from 0.03 to 0.19. This indicates that Cintas Corporation may have been managing its liquidity conservatively, potentially prioritizing investments, debt repayment, or other uses of its cash over maintaining a high level of cash reserves.
It is important to note that while the cash ratio provides a snapshot of a company's liquidity position, it should be analyzed in conjunction with other financial ratios and metrics to gain a comprehensive understanding of Cintas Corporation's financial health and performance.
Peer comparison
May 31, 2024