Cintas Corp

Company facts

Industry

Men's & Boys' Furnishgs, Work Clothg, & Allied Garments

Headquarters

Cincinnati, Ohio

Most recent report

8-K, filed Aug 27, 2026

Incorporated

Washington

Filings on record

1,000+ filings

On EDGAR

CIK 723254

Fiscal year ends

May

Filer status

Large accelerated filer

What to read: FY2026 10-K

SECSift found 5 of 27 sections worth reading, with 4 positive, 10 notable, and 3 negative flags.

• Business (Item 1)

  New UniFirst merger ($5.5B), segment revenue growth, operational expansion.
  Notable

  • Agreed to buy UniFirst for ~$5.5B ($155 cash + 0.772 Cintas shares per share); shareholder approved, antitrust pending.
  • Delivery routes up to 12,500 (from 12,100), operational facilities up to 484 (from 478) at May 31, 2026.
  • Environmental spending on water/waste rose to ~$30M (FY2026) from ~$29M (FY2025); cap-ex on haz-mat rose to ~$5.8M.

• Risk Factors (Item 1A)

  Multiple new company-specific risks: UniFirst deal, $2.8B debt, AI factor, past cyber incidents.
  Notable

  • Cintas has experienced past cybersecurity incidents, but none have been material so far. FY2025.
  • New detailed risk factor on AI covers inaccurate outputs, regulatory compliance, cybersecurity, and IP issues. FY2025.
  Negative

  • Acquisition integration risks and potential dilution from issuing stock for acquisitions. FY2025.
  • Cintas could owe UniFirst a $350.0 million termination fee if the deal fails under certain conditions. FY2025.
  • Cintas expects to add about $2.8 billion in debt for UniFirst, bringing total to ~$5.2 billion. FY2025.

• Market for the Stock (Item 5)

  Dividend up 15% and new $1B buyback authorized; both material to shareholders.
  Notable

  • New $1.0B share buyback authorized Oct 28, 2025; $1.4858B remaining on existing plans as of May 31, 2026.
  • All Q4 2026 share repurchases were for tax withholding (75,495 shares, $13.6M); no open-market buys executed.

• Management's Discussion (Item 7)

  MD&A details strong FY2026 results and major UniFirst acquisition.
  Positive

  • Revenue $11.3B, up 8.9% in FY2026, with organic growth of 8.3%.
  • Net income of $2,000M was up 10.4% in FY2026 vs FY2025.
  • Diluted EPS $4.91, up 11.6% from $4.40 in FY2025.
  • Operating cash flow $2,276M, up 5.1% in FY2026.
  Notable

  • Recorded $16.1M in UniFirst transaction expenses in FY2026.

• Financial Statements (Item 8)

  Core financial data, UniFirst deal, debt maturity, and buyback details warrant full attention.
  Notable

  • Insurance reserve stood at $218.5M at May 31, 2026, a key audit matter.
  • New $2.0B credit agreement signed March 2026, matures 2031, replaced prior facility.

What changed: FY2026 vs. FY2025

About 14% of CTAS's FY2026 10-K is new information. 69 paragraphs were added, 180 changed, and 53 removed. Below are the most important lines SECSift identified.

• Financial Statements (Item 8) 80
• Management's Discussion (Item 7) 48
• Risk Factors (Item 1A) 39
• Business (Item 1) 27
• Market for the Stock (Item 5) 7
• Form 10-K Summary (Item 16) 6
• Cybersecurity (Item 1C) 4
• Exhibits (Item 15) 3
• Security Ownership (Item 12) 2
• Properties (Item 2) 1
• Market Risk (Item 7A) 1
• Legal Proceedings (Item 3) 1