Cintas Corporation (CTAS)

Quick ratio

		May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Cash	US$ in thousands	—	342,015	124,149	90,471	493,640
Short-term investments	US$ in thousands	—	—	—	—	274,616
Receivables	US$ in thousands	—	1,244,180	1,152,990	1,027,930	923,992
Total current liabilities	US$ in thousands	—	1,828,520	1,230,060	1,432,890	1,934,080
Quick ratio		—	0.87	1.04	0.78	0.87

May 31, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($—K + $—K + $—K) ÷ $—K
= —

The quick ratio of Cintas Corporation has exhibited variability over the analyzed period from May 31, 2021, to May 31, 2024. Specifically, the quick ratio was 0.87 as of May 31, 2021, indicating that the company's most liquid assets covered approximately 87% of its current liabilities at that time. By May 31, 2022, the ratio decreased to 0.78, suggesting a slight decline in liquidity position, with liquid assets covering less than its current liabilities.

However, by May 31, 2023, the quick ratio increased significantly to 1.04, reflecting an enhancement in liquidity, whereby liquid assets exceeded current liabilities. This indicates an improved capacity to meet short-term obligations without relying on inventory sales or other less liquid assets.

The ratio then declined again to 0.87 as of May 31, 2024, reverting to a level similar to that seen in 2021. This fluctuation suggests some variability in the company's short-term liquidity position, but overall, the quick ratio remained within a range that hovers near 0.78 to 1.04 over the period, indicating a generally stable, though somewhat cyclical liquidity position.

The absence of data beyond May 31, 2024, precludes further trend analysis, but the observed fluctuations suggest that while Cintas Corporation maintained a reasonably solid liquidity profile in recent years, it experienced periods of short-term liquidity variation.