Cintas Corporation (CTAS)

Operating profit margin

		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
Operating income (ttm)	US$ in thousands	2,359,726	2,309,868	2,220,815	2,129,108	2,068,633	1,991,837	1,917,849	1,863,100	1,802,664	1,736,302	1,697,095	1,633,389	1,587,370	1,539,380	1,458,243	1,429,887	1,385,492	1,236,480	1,224,664	1,206,256
Revenue (ttm)	US$ in thousands	10,340,180	10,143,470	9,940,480	9,755,880	9,596,620	9,410,150	9,193,970	8,991,650	8,815,770	8,605,990	8,376,540	8,123,960	7,854,460	7,615,430	7,431,950	7,266,720	7,116,350	6,900,270	6,933,860	7,020,560
Operating profit margin		22.82%	22.77%	22.34%	21.82%	21.56%	21.17%	20.86%	20.72%	20.45%	20.18%	20.26%	20.11%	20.21%	20.21%	19.62%	19.68%	19.47%	17.92%	17.66%	17.18%

May 31, 2025 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $2,359,726K ÷ $10,340,180K
= 22.82%

The operating profit margin of Cintas Corporation demonstrates a consistent upward trend over the analyzed period. Starting at 17.18% as of August 31, 2020, the margin gradually increased through subsequent periods, reaching 17.66% by November 30, 2020 and 17.92% by February 28, 2021. A notable acceleration occurred between May 31, 2021 and August 31, 2021, with the operating profit margin rising to 19.68%, indicating improved operational efficiency or favorable revenue-cost dynamics.

Throughout 2022, the operating profit margin maintained a steady level, fluctuating slightly around 20.1%, with the highest point at 20.26% on November 30, 2022, and marginal decreases in some quarters. The upward trajectory resumed in 2023, reaching 20.45% by May 31, 2023, and further improving to 20.72% by August 31, 2023.

From late 2023 through 2024 and into 2025, the margin continues to show growth, with figures such as 20.86% on November 30, 2023, and progressing to 22.34% on November 30, 2024, and 22.82% as of May 31, 2025. The progression suggests not only operational stability but also ongoing enhancements in profitability and cost control measures.

Overall, the data reflects a stable and steadily improving operating profit margin, indicative of effective operational management, favorable pricing strategies, or cost efficiencies contributing to the company's increasing profitability over the analyzed period.