Cintas Corporation (CTAS)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	4,684,480	4,316,370	3,863,990	3,308,200	3,687,850
ROE		38.69%	36.41%	34.89%	37.35%	30.13%

May 31, 2025 calculation

ROE = Net income ÷ Total stockholders’ equity
= $1,812,280K ÷ $4,684,480K
= 38.69%

The analysis of Cintas Corporation's return on equity (ROE) over the specified period reveals a pattern of increasing profitability and efficient use of shareholders' equity, with notable fluctuations in the given timeframe. As of May 31, 2021, the ROE was recorded at 30.13%, indicating a strong utilization of equity in generating net income. This figure increased significantly by May 31, 2022, reaching 37.35%, which suggests an improvement in profitability, possibly driven by increased revenues, better expense management, or operational efficiencies.

Following this peak, the ROE experienced a slight decline to 34.89% as of May 31, 2023, reflecting some contraction in return generation but still remaining at a high level indicative of sustained operational strength. The upward trend resumed by May 31, 2024, with the ROE climbing to 36.41%, which may reflect continued or renewed operational improvements, successful strategic initiatives, or favorable market conditions.

Forecasting into 2025, the data does not provide a specific ROE value, denoted by a dash, which may suggest that the figure is either unavailable, not yet finalized, or not reported at this time. Overall, the trend demonstrates that Cintas has maintained a consistently high ROE over this period, generally hovering in the upper 30% range, with upward movements indicating effective management in generating shareholder returns.