Cintas Corporation (CTAS)
Operating return on assets (Operating ROA)
| 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 |
| Total assets | US$ in thousands | 9,825,240 | 9,611,140 | 9,366,530 | 9,068,710 | 9,481,300 | 8,978,880 | 8,813,870 | 8,719,680 | 8,546,360 | 8,466,000 | 8,427,010 | 8,261,030 | 8,147,260 | 8,168,600 | 8,017,410 | 7,857,750 | 8,236,820 | 8,347,500 | 8,454,750 | 8,043,380 |
| Operating ROA | 24.02% | 24.03% | 23.71% | 23.48% | 21.82% | 22.18% | 21.76% | 21.37% | 21.09% | 20.51% | 20.14% | 19.77% | 19.48% | 18.85% | 18.19% | 18.20% | 16.82% | 14.81% | 14.48% | 15.00% |
May 31, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $2,359,726K ÷ $9,825,240K
= 24.02%
The operating return on assets (ROA) for Cintas Corporation demonstrates a consistent upward trend over the analyzed period from August 2020 through May 2025. Starting at 15.00% in August 2020, the metric experienced a gradual decline to approximately 14.48% by November 2020, amidst the early impacts of the COVID-19 pandemic. Subsequently, the operating ROA recovered and exhibited a steady increase, reaching 16.82% in May 2021 and continuing its positive trajectory through late 2021, with values ascending to approximately 18.20% in August 2021 and maintaining around 18.19% to 20.14% into late 2022.
From this point, a more pronounced growth pattern is observable. The figure rose above 20% in late 2022, reaching 20.51% in February 2023 and climbing further to 21.09% as of May 2023. The upward momentum persisted into late 2023, with the ratio at 21.37% in August and 21.76% in November. The trend continued into early 2024, with the operating ROA reaching 22.18% in February, 21.82% in May, and notably increasing to 23.48% by August 2024. The figure remained elevated at 23.71% in November 2024, before reaching around 24.03% in February 2025 and stabilizing slightly at 24.02% in May 2025.
Overall, the data reflects a strengthening operational efficiency and asset utilization over the analyzed period, with the operating ROA improving significantly from around 15% pre-pandemic levels to over 24% in early 2025. This upward movement suggests enhanced profitability and effective management of assets, positioning Cintas to sustain higher operating returns relative to its asset base in the recent fiscal periods.
Peer comparison
May 31, 2025