Cintas Corporation (CTAS)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	4,686,418	4,572,943	4,435,493	4,297,293	4,173,363	4,114,386	3,988,196	3,816,646	3,632,246	3,739,657	3,563,557	3,434,067	3,314,557	4,382,190	3,972,725	3,595,036	3,233,748	3,349,493	3,280,251	3,203,018
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
Gross profit margin		48.83%	49.12%	48.80%	48.36%	47.94%	48.35%	48.12%	47.46%	46.70%	49.55%	48.41%	47.74%	47.08%	64.19%	57.70%	51.39%	45.64%	46.14%	46.00%	45.72%

May 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $4,686,418K ÷ $9,596,620K
= 48.83%

The gross profit margin of Cintas Corporation has shown some fluctuations over the past few years. On a quarterly basis, the gross profit margin has ranged between 45.64% and 49.55%. In the most recent quarter, ending May 31, 2024, the gross profit margin was 48.83%, reflecting a slight decrease from the previous quarter.

It is noted that the gross profit margin spiked significantly to 64.19% in the quarter ended May 31, 2021, before gradually decreasing in subsequent quarters. This spike may be attributed to various factors such as pricing strategies, cost management, or changes in the product mix.

Overall, the trend in the gross profit margin of Cintas Corporation suggests a certain level of consistency, with occasional fluctuations. Analysts may want to further investigate the underlying reasons for these fluctuations to assess the company's operational efficiency and profitability.