Cintas Corporation (CTAS)

Return on assets (ROA)

		May 31, 2025	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Net income	US$ in thousands	1,812,280	1,571,590	1,348,010	1,235,760	1,110,970
Total assets	US$ in thousands	9,825,240	9,168,820	8,546,360	8,147,260	8,236,820
ROA		18.45%	17.14%	15.77%	15.17%	13.49%

May 31, 2025 calculation

ROA = Net income ÷ Total assets
= $1,812,280K ÷ $9,825,240K
= 18.45%

Based on the provided data, Cintas Corporation's return on assets (ROA) demonstrates a consistent upward trajectory over the observed period. As of May 31, 2021, the ROA stood at 13.49%. This figure increased to 15.17% by May 31, 2022, reflecting an improvement in the company’s efficiency in generating earnings from its asset base. The upward trend continued into May 31, 2023, reaching 15.77%, indicating sustained enhancements in asset utilization and profitability. By May 31, 2024, the ROA further increased to 17.14%, suggesting that the company has maintained or improved its ability to efficiently convert assets into earnings. It is notable that data for May 31, 2025, is unavailable or not reported, leaving the most recent long-term trend for this ratio incomplete. Overall, the increasing ROA over these years signifies an attractive trend of improving operational efficiency and profitability relative to the asset base, which may be indicative of effective management, strategic growth initiatives, or operational improvements within the company.