Cintas Corporation (CTAS)

Return on total capital

May 31, 2025 May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021
Earnings before interest and tax (EBIT) US$ in thousands — 2,081,470 1,812,510 1,590,340 1,387,860
Long-term debt US$ in thousands — — — — —
Total stockholders’ equity US$ in thousands — 4,316,370 3,863,990 3,308,200 3,687,850
Return on total capital — 48.22% 46.91% 48.07% 37.63%

May 31, 2025 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $—K)
= —

The Return on Total Capital (ROTC) for Cintas Corporation has demonstrated notable fluctuations over the period from May 31, 2021, to May 31, 2024. In the fiscal year ending May 31, 2021, the ROTC stood at approximately 37.63%, reflecting the company's efficiency in generating profits from its overall capital base. By May 31, 2022, this metric experienced a significant increase to 48.07%, indicating improved capital efficiency and possibly stronger operational performance or better utilization of capital assets during that period.

Subsequently, the ROTC slightly declined to 46.91% by May 31, 2023, suggesting a minor moderation in the company's profitability relative to its total capital. Despite this slight decrease, the ratio remained high, maintaining a robust level indicative of effective capital deployment. Moving forward to May 31, 2024, the ROTC rose marginally again to 48.22%, surpassing both the 2022 and 2023 figures, and signifying an overall enhancement in the company's ability to generate returns from its total capital base.

It is important to note that data for May 31, 2025, is not available, precluding further analysis of trends beyond 2024. Nonetheless, the observed pattern underscores a generally positive trajectory in Cintas Corporation's capital efficiency and profitability, with the metric largely stabilizing around the high 40s percentage range during the analyzed period.