Cintas Corporation (CTAS)

Debt-to-capital ratio

		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	May 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	4,592,250	4,293,110	4,021,420	4,316,370	4,234,080	3,994,480	4,077,640	3,863,990	3,633,260	3,430,540	3,229,630	3,308,200	3,293,900	3,563,130	3,309,200	3,687,850	3,816,510	3,597,960	3,604,800	3,235,200
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

February 28, 2025 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $4,592,250K)
= 0.00

The analysis of Cintas Corporation's debt-to-capital ratio over multiple reporting periods from May 2020 through February 2025 indicates a consistent and noteworthy trend: the ratio remains at zero throughout all observed dates. This persistent zero value suggests that the company did not utilize debt financing during this entire period, relying entirely on equity or internally generated funds to finance its operations and capital needs. As a result, the company has maintained a debt-free capital structure, reflecting a conservative financial strategy with no dependence on leverage. This approach minimizes financial risk associated with debt obligations and interest payments, but it may also limit the company's leverage for growth opportunities. Overall, Cintas Corporation's debt-to-capital ratio data portrays a consistent pattern of zero leverage, indicating an unwavering stance on maintaining a debt-free capital structure over the assessed timeframe.