Analysis of Solvency RatiosQuarterly Data
Annual Data
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Annual Data
Quarterly Data
Cintas Corp., solvency ratios (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Debt Ratios
Debt to equity
0.62 0.66 0.57 0.58 0.67 0.61 0.64 0.75 0.85 0.93 0.85 0.87 0.69 0.79 0.69 0.67 0.71 0.70 0.79 0.82 0.88 0.94 0.95 0.87 0.90 0.76
Debt to equity (including operating lease liability)
0.66 0.71 0.62 0.63 0.72 0.65 0.69 0.80 0.90 0.98 0.90 0.92 0.74 0.84 0.74 0.71 0.75 0.75 0.84 0.88 0.94 1.00 0.95 0.87 0.90 0.76
Debt to capital
0.38 0.40 0.36 0.37 0.40 0.38 0.39 0.43 0.46 0.48 0.46 0.46 0.41 0.44 0.41 0.40 0.41 0.41 0.44 0.45 0.47 0.49 0.49 0.46 0.47 0.43
Debt to capital (including operating lease liability)
0.40 0.41 0.38 0.39 0.42 0.40 0.41 0.45 0.47 0.50 0.47 0.48 0.42 0.46 0.42 0.41 0.43 0.43 0.46 0.47 0.48 0.50 0.49 0.46 0.47 0.43
Debt to assets
0.28 0.29 0.27 0.28 0.30 0.28 0.29 0.32 0.35 0.36 0.34 0.35 0.31 0.33 0.31 0.30 0.30 0.32 0.33 0.35 0.35 0.38 0.38 0.37 0.37 0.35
Debt to assets (including operating lease liability)
0.30 0.31 0.29 0.30 0.33 0.31 0.31 0.34 0.37 0.38 0.36 0.37 0.33 0.35 0.33 0.32 0.32 0.34 0.35 0.37 0.37 0.40 0.38 0.37 0.37 0.35
Financial leverage
2.18 2.26 2.12 2.12 2.21 2.14 2.21 2.33 2.46 2.56 2.46 2.48 2.25 2.37 2.23 2.19 2.35 2.23 2.37 2.38 2.54 2.51 2.48 2.34 2.45 2.18
Coverage Ratios
Interest coverage
21.86 20.98 20.59 19.47 18.16 17.26 16.22 16.01 16.69 17.25 17.87 17.04 15.71 14.98 14.11 12.42 12.13 11.76 11.04 12.08 11.64 11.88 11.84 — — —
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
Solvency ratio
Description
The company
Debt to equity ratio
A solvency ratio calculated as total debt divided by total shareholders’ equity.
Cintas Corp. debt to equity ratio deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to equity (including operating lease liability) ratio
A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.
Cintas Corp. debt to equity ratio (including operating lease liability) deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to capital ratio
A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.
Cintas Corp. debt to capital ratio deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to capital (including operating lease liability) ratio
A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.
Cintas Corp. debt to capital ratio (including operating lease liability) deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to assets ratio
A solvency ratio calculated as total debt divided by total assets.
Cintas Corp. debt to assets ratio deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to assets (including operating lease liability) ratio
A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.
Cintas Corp. debt to assets ratio (including operating lease liability) deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Financial leverage ratio
A solvency ratio calculated as total assets divided by total shareholders’ equity.
Cintas Corp. financial leverage ratio increased from Q4 2024 to Q1 2025 but then slightly decreased from Q1 2025 to Q2 2025 not reaching Q4 2024 level.
Solvency ratio
Description
The company
Interest coverage ratio
A solvency ratio calculated as EBIT divided by interest payments.
Cintas Corp. interest coverage ratio improved from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.
Debt to Equity
Annual Data
Quarterly Data
Cintas Corp., debt to equity calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Debt due within one year
630,808) 615,702) 449,595) —) 210,000) —) —) 249,053) 435,406) 507,467) 311,574) 1,509,056) 1,116,507) 1,275,167) 899,070) 249,936) 249,872) 249,808) —) 199,800) 199,788) 338,776) 312,264) 217,500) 173,500) —)
Debt due after one year
2,026,963) 2,026,448) 2,025,934) 2,474,908) 2,474,287) 2,477,093) 2,486,405) 2,485,952) 2,485,277) 2,484,602) 2,483,932) 1,343,513) 1,343,367) 1,343,222) 1,642,833) 2,291,418) 2,290,932) 2,290,447) 2,539,705) 2,539,156) 2,538,606) 2,538,057) 2,537,507) 2,536,958) 2,536,408) 2,535,859)
Total debt
2,657,771) 2,642,150) 2,475,529) 2,474,908) 2,684,287) 2,477,093) 2,486,405) 2,735,005) 2,920,683) 2,992,069) 2,795,506) 2,852,569) 2,459,874) 2,618,389) 2,541,903) 2,541,354) 2,540,804) 2,540,255) 2,539,705) 2,738,956) 2,738,394) 2,876,833) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Shareholders’ equity
4,293,106) 4,021,423) 4,316,372) 4,234,083) 3,994,481) 4,077,635) 3,863,986) 3,633,256) 3,430,538) 3,229,626) 3,308,196) 3,293,900) 3,563,127) 3,309,203) 3,687,847) 3,816,510) 3,597,960) 3,604,804) 3,235,202) 3,324,309) 3,104,970) 3,050,706) 3,002,721) 3,179,492) 3,027,244) 3,345,968)
Solvency Ratio
Debt to equity1
0.62 0.66 0.57 0.58 0.67 0.61 0.64 0.75 0.85 0.93 0.85 0.87 0.69 0.79 0.69 0.67 0.71 0.70 0.79 0.82 0.88 0.94 0.95 0.87 0.90 0.76
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation 2,657,771 ÷ 4,293,106 = 0.62
Solvency ratio
Description
The company
Debt to equity ratio
A solvency ratio calculated as total debt divided by total shareholders’ equity.
Cintas Corp. debt to equity ratio deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to Equity (including Operating Lease Liability)
Annual Data
Quarterly Data
Cintas Corp., debt to equity (including operating lease liability) calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Debt due within one year
630,808) 615,702) 449,595) —) 210,000) —) —) 249,053) 435,406) 507,467) 311,574) 1,509,056) 1,116,507) 1,275,167) 899,070) 249,936) 249,872) 249,808) —) 199,800) 199,788) 338,776) 312,264) 217,500) 173,500) —)
Debt due after one year
2,026,963) 2,026,448) 2,025,934) 2,474,908) 2,474,287) 2,477,093) 2,486,405) 2,485,952) 2,485,277) 2,484,602) 2,483,932) 1,343,513) 1,343,367) 1,343,222) 1,642,833) 2,291,418) 2,290,932) 2,290,447) 2,539,705) 2,539,156) 2,538,606) 2,538,057) 2,537,507) 2,536,958) 2,536,408) 2,535,859)
Total debt
2,657,771) 2,642,150) 2,475,529) 2,474,908) 2,684,287) 2,477,093) 2,486,405) 2,735,005) 2,920,683) 2,992,069) 2,795,506) 2,852,569) 2,459,874) 2,618,389) 2,541,903) 2,541,354) 2,540,804) 2,540,255) 2,539,705) 2,738,956) 2,738,394) 2,876,833) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Operating lease liabilities, current
46,921) 46,537) 45,727) 44,430) 44,063) 43,803) 43,710) 42,970) 42,792) 43,539) 43,872) 44,105) 43,156) 43,308) 43,850) 43,767) 42,682) 43,414) 43,031) 44,043) 44,263) 43,010) —) —) —) —)
Operating lease liabilities, long-term
141,973) 149,345) 146,824) 146,060) 138,936) 141,459) 138,278) 139,107) 136,520) 134,010) 129,064) 131,224) 118,892) 122,291) 130,774) 119,071) 117,494) 121,727) 122,695) 126,994) 130,580) 125,684) —) —) —) —)
Total debt (including operating lease liability)
2,846,665) 2,838,032) 2,668,080) 2,665,398) 2,867,286) 2,662,355) 2,668,393) 2,917,082) 3,099,995) 3,169,618) 2,968,442) 3,027,898) 2,621,922) 2,783,988) 2,716,527) 2,704,192) 2,700,980) 2,705,396) 2,705,431) 2,909,993) 2,913,237) 3,045,527) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Shareholders’ equity
4,293,106) 4,021,423) 4,316,372) 4,234,083) 3,994,481) 4,077,635) 3,863,986) 3,633,256) 3,430,538) 3,229,626) 3,308,196) 3,293,900) 3,563,127) 3,309,203) 3,687,847) 3,816,510) 3,597,960) 3,604,804) 3,235,202) 3,324,309) 3,104,970) 3,050,706) 3,002,721) 3,179,492) 3,027,244) 3,345,968)
Solvency Ratio
Debt to equity (including operating lease liability)1
0.66 0.71 0.62 0.63 0.72 0.65 0.69 0.80 0.90 0.98 0.90 0.92 0.74 0.84 0.74 0.71 0.75 0.75 0.84 0.88 0.94 1.00 0.95 0.87 0.90 0.76
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation 2,846,665 ÷ 4,293,106 = 0.66
Solvency ratio
Description
The company
Debt to equity (including operating lease liability) ratio
A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity.
Cintas Corp. debt to equity ratio (including operating lease liability) deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to Capital
Annual Data
Quarterly Data
Cintas Corp., debt to capital calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Debt due within one year
630,808) 615,702) 449,595) —) 210,000) —) —) 249,053) 435,406) 507,467) 311,574) 1,509,056) 1,116,507) 1,275,167) 899,070) 249,936) 249,872) 249,808) —) 199,800) 199,788) 338,776) 312,264) 217,500) 173,500) —)
Debt due after one year
2,026,963) 2,026,448) 2,025,934) 2,474,908) 2,474,287) 2,477,093) 2,486,405) 2,485,952) 2,485,277) 2,484,602) 2,483,932) 1,343,513) 1,343,367) 1,343,222) 1,642,833) 2,291,418) 2,290,932) 2,290,447) 2,539,705) 2,539,156) 2,538,606) 2,538,057) 2,537,507) 2,536,958) 2,536,408) 2,535,859)
Total debt
2,657,771) 2,642,150) 2,475,529) 2,474,908) 2,684,287) 2,477,093) 2,486,405) 2,735,005) 2,920,683) 2,992,069) 2,795,506) 2,852,569) 2,459,874) 2,618,389) 2,541,903) 2,541,354) 2,540,804) 2,540,255) 2,539,705) 2,738,956) 2,738,394) 2,876,833) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Shareholders’ equity
4,293,106) 4,021,423) 4,316,372) 4,234,083) 3,994,481) 4,077,635) 3,863,986) 3,633,256) 3,430,538) 3,229,626) 3,308,196) 3,293,900) 3,563,127) 3,309,203) 3,687,847) 3,816,510) 3,597,960) 3,604,804) 3,235,202) 3,324,309) 3,104,970) 3,050,706) 3,002,721) 3,179,492) 3,027,244) 3,345,968)
Total capital
6,950,877) 6,663,573) 6,791,901) 6,708,991) 6,678,768) 6,554,728) 6,350,391) 6,368,261) 6,351,221) 6,221,695) 6,103,702) 6,146,469) 6,023,001) 5,927,592) 6,229,750) 6,357,864) 6,138,764) 6,145,059) 5,774,907) 6,063,265) 5,843,364) 5,927,539) 5,852,492) 5,933,950) 5,737,152) 5,881,827)
Solvency Ratio
Debt to capital1
0.38 0.40 0.36 0.37 0.40 0.38 0.39 0.43 0.46 0.48 0.46 0.46 0.41 0.44 0.41 0.40 0.41 0.41 0.44 0.45 0.47 0.49 0.49 0.46 0.47 0.43
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation 2,657,771 ÷ 6,950,877 = 0.38
Solvency ratio
Description
The company
Debt to capital ratio
A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity.
Cintas Corp. debt to capital ratio deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to Capital (including Operating Lease Liability)
Annual Data
Quarterly Data
Cintas Corp., debt to capital (including operating lease liability) calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Debt due within one year
630,808) 615,702) 449,595) —) 210,000) —) —) 249,053) 435,406) 507,467) 311,574) 1,509,056) 1,116,507) 1,275,167) 899,070) 249,936) 249,872) 249,808) —) 199,800) 199,788) 338,776) 312,264) 217,500) 173,500) —)
Debt due after one year
2,026,963) 2,026,448) 2,025,934) 2,474,908) 2,474,287) 2,477,093) 2,486,405) 2,485,952) 2,485,277) 2,484,602) 2,483,932) 1,343,513) 1,343,367) 1,343,222) 1,642,833) 2,291,418) 2,290,932) 2,290,447) 2,539,705) 2,539,156) 2,538,606) 2,538,057) 2,537,507) 2,536,958) 2,536,408) 2,535,859)
Total debt
2,657,771) 2,642,150) 2,475,529) 2,474,908) 2,684,287) 2,477,093) 2,486,405) 2,735,005) 2,920,683) 2,992,069) 2,795,506) 2,852,569) 2,459,874) 2,618,389) 2,541,903) 2,541,354) 2,540,804) 2,540,255) 2,539,705) 2,738,956) 2,738,394) 2,876,833) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Operating lease liabilities, current
46,921) 46,537) 45,727) 44,430) 44,063) 43,803) 43,710) 42,970) 42,792) 43,539) 43,872) 44,105) 43,156) 43,308) 43,850) 43,767) 42,682) 43,414) 43,031) 44,043) 44,263) 43,010) —) —) —) —)
Operating lease liabilities, long-term
141,973) 149,345) 146,824) 146,060) 138,936) 141,459) 138,278) 139,107) 136,520) 134,010) 129,064) 131,224) 118,892) 122,291) 130,774) 119,071) 117,494) 121,727) 122,695) 126,994) 130,580) 125,684) —) —) —) —)
Total debt (including operating lease liability)
2,846,665) 2,838,032) 2,668,080) 2,665,398) 2,867,286) 2,662,355) 2,668,393) 2,917,082) 3,099,995) 3,169,618) 2,968,442) 3,027,898) 2,621,922) 2,783,988) 2,716,527) 2,704,192) 2,700,980) 2,705,396) 2,705,431) 2,909,993) 2,913,237) 3,045,527) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Shareholders’ equity
4,293,106) 4,021,423) 4,316,372) 4,234,083) 3,994,481) 4,077,635) 3,863,986) 3,633,256) 3,430,538) 3,229,626) 3,308,196) 3,293,900) 3,563,127) 3,309,203) 3,687,847) 3,816,510) 3,597,960) 3,604,804) 3,235,202) 3,324,309) 3,104,970) 3,050,706) 3,002,721) 3,179,492) 3,027,244) 3,345,968)
Total capital (including operating lease liability)
7,139,771) 6,859,455) 6,984,452) 6,899,481) 6,861,767) 6,739,990) 6,532,379) 6,550,338) 6,530,533) 6,399,244) 6,276,638) 6,321,798) 6,185,049) 6,093,191) 6,404,374) 6,520,702) 6,298,940) 6,310,200) 5,940,633) 6,234,302) 6,018,207) 6,096,233) 5,852,492) 5,933,950) 5,737,152) 5,881,827)
Solvency Ratio
Debt to capital (including operating lease liability)1
0.40 0.41 0.38 0.39 0.42 0.40 0.41 0.45 0.47 0.50 0.47 0.48 0.42 0.46 0.42 0.41 0.43 0.43 0.46 0.47 0.48 0.50 0.49 0.46 0.47 0.43
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation 2,846,665 ÷ 7,139,771 = 0.40
Solvency ratio
Description
The company
Debt to capital (including operating lease liability) ratio
A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity.
Cintas Corp. debt to capital ratio (including operating lease liability) deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to Assets
Annual Data
Quarterly Data
Cintas Corp., debt to assets calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Debt due within one year
630,808) 615,702) 449,595) —) 210,000) —) —) 249,053) 435,406) 507,467) 311,574) 1,509,056) 1,116,507) 1,275,167) 899,070) 249,936) 249,872) 249,808) —) 199,800) 199,788) 338,776) 312,264) 217,500) 173,500) —)
Debt due after one year
2,026,963) 2,026,448) 2,025,934) 2,474,908) 2,474,287) 2,477,093) 2,486,405) 2,485,952) 2,485,277) 2,484,602) 2,483,932) 1,343,513) 1,343,367) 1,343,222) 1,642,833) 2,291,418) 2,290,932) 2,290,447) 2,539,705) 2,539,156) 2,538,606) 2,538,057) 2,537,507) 2,536,958) 2,536,408) 2,535,859)
Total debt
2,657,771) 2,642,150) 2,475,529) 2,474,908) 2,684,287) 2,477,093) 2,486,405) 2,735,005) 2,920,683) 2,992,069) 2,795,506) 2,852,569) 2,459,874) 2,618,389) 2,541,903) 2,541,354) 2,540,804) 2,540,255) 2,539,705) 2,738,956) 2,738,394) 2,876,833) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Total assets
9,366,529) 9,068,707) 9,168,817) 8,978,875) 8,813,869) 8,719,681) 8,546,356) 8,466,001) 8,427,007) 8,261,026) 8,147,256) 8,168,600) 8,017,410) 7,857,750) 8,236,823) 8,347,497) 8,454,753) 8,043,381) 7,669,885) 7,901,980) 7,887,337) 7,661,900) 7,436,662) 7,433,673) 7,405,083) 7,287,204)
Solvency Ratio
Debt to assets1
0.28 0.29 0.27 0.28 0.30 0.28 0.29 0.32 0.35 0.36 0.34 0.35 0.31 0.33 0.31 0.30 0.30 0.32 0.33 0.35 0.35 0.38 0.38 0.37 0.37 0.35
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation 2,657,771 ÷ 9,366,529 = 0.28
Solvency ratio
Description
The company
Debt to assets ratio
A solvency ratio calculated as total debt divided by total assets.
Cintas Corp. debt to assets ratio deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Debt to Assets (including Operating Lease Liability)
Annual Data
Quarterly Data
Cintas Corp., debt to assets (including operating lease liability) calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Debt due within one year
630,808) 615,702) 449,595) —) 210,000) —) —) 249,053) 435,406) 507,467) 311,574) 1,509,056) 1,116,507) 1,275,167) 899,070) 249,936) 249,872) 249,808) —) 199,800) 199,788) 338,776) 312,264) 217,500) 173,500) —)
Debt due after one year
2,026,963) 2,026,448) 2,025,934) 2,474,908) 2,474,287) 2,477,093) 2,486,405) 2,485,952) 2,485,277) 2,484,602) 2,483,932) 1,343,513) 1,343,367) 1,343,222) 1,642,833) 2,291,418) 2,290,932) 2,290,447) 2,539,705) 2,539,156) 2,538,606) 2,538,057) 2,537,507) 2,536,958) 2,536,408) 2,535,859)
Total debt
2,657,771) 2,642,150) 2,475,529) 2,474,908) 2,684,287) 2,477,093) 2,486,405) 2,735,005) 2,920,683) 2,992,069) 2,795,506) 2,852,569) 2,459,874) 2,618,389) 2,541,903) 2,541,354) 2,540,804) 2,540,255) 2,539,705) 2,738,956) 2,738,394) 2,876,833) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Operating lease liabilities, current
46,921) 46,537) 45,727) 44,430) 44,063) 43,803) 43,710) 42,970) 42,792) 43,539) 43,872) 44,105) 43,156) 43,308) 43,850) 43,767) 42,682) 43,414) 43,031) 44,043) 44,263) 43,010) —) —) —) —)
Operating lease liabilities, long-term
141,973) 149,345) 146,824) 146,060) 138,936) 141,459) 138,278) 139,107) 136,520) 134,010) 129,064) 131,224) 118,892) 122,291) 130,774) 119,071) 117,494) 121,727) 122,695) 126,994) 130,580) 125,684) —) —) —) —)
Total debt (including operating lease liability)
2,846,665) 2,838,032) 2,668,080) 2,665,398) 2,867,286) 2,662,355) 2,668,393) 2,917,082) 3,099,995) 3,169,618) 2,968,442) 3,027,898) 2,621,922) 2,783,988) 2,716,527) 2,704,192) 2,700,980) 2,705,396) 2,705,431) 2,909,993) 2,913,237) 3,045,527) 2,849,771) 2,754,458) 2,709,908) 2,535,859)
Total assets
9,366,529) 9,068,707) 9,168,817) 8,978,875) 8,813,869) 8,719,681) 8,546,356) 8,466,001) 8,427,007) 8,261,026) 8,147,256) 8,168,600) 8,017,410) 7,857,750) 8,236,823) 8,347,497) 8,454,753) 8,043,381) 7,669,885) 7,901,980) 7,887,337) 7,661,900) 7,436,662) 7,433,673) 7,405,083) 7,287,204)
Solvency Ratio
Debt to assets (including operating lease liability)1
0.30 0.31 0.29 0.30 0.33 0.31 0.31 0.34 0.37 0.38 0.36 0.37 0.33 0.35 0.33 0.32 0.32 0.34 0.35 0.37 0.37 0.40 0.38 0.37 0.37 0.35
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation 2,846,665 ÷ 9,366,529 = 0.30
Solvency ratio
Description
The company
Debt to assets (including operating lease liability) ratio
A solvency ratio calculated as total debt (including operating lease liability) divided by total assets.
Cintas Corp. debt to assets ratio (including operating lease liability) deteriorated from Q4 2024 to Q1 2025 but then slightly improved from Q1 2025 to Q2 2025.
Financial Leverage
Annual Data
Quarterly Data
Cintas Corp., financial leverage calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Total assets
9,366,529) 9,068,707) 9,168,817) 8,978,875) 8,813,869) 8,719,681) 8,546,356) 8,466,001) 8,427,007) 8,261,026) 8,147,256) 8,168,600) 8,017,410) 7,857,750) 8,236,823) 8,347,497) 8,454,753) 8,043,381) 7,669,885) 7,901,980) 7,887,337) 7,661,900) 7,436,662) 7,433,673) 7,405,083) 7,287,204)
Shareholders’ equity
4,293,106) 4,021,423) 4,316,372) 4,234,083) 3,994,481) 4,077,635) 3,863,986) 3,633,256) 3,430,538) 3,229,626) 3,308,196) 3,293,900) 3,563,127) 3,309,203) 3,687,847) 3,816,510) 3,597,960) 3,604,804) 3,235,202) 3,324,309) 3,104,970) 3,050,706) 3,002,721) 3,179,492) 3,027,244) 3,345,968)
Solvency Ratio
Financial leverage1
2.18 2.26 2.12 2.12 2.21 2.14 2.21 2.33 2.46 2.56 2.46 2.48 2.25 2.37 2.23 2.19 2.35 2.23 2.37 2.38 2.54 2.51 2.48 2.34 2.45 2.18
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation 9,366,529 ÷ 4,293,106 = 2.18
Solvency ratio
Description
The company
Financial leverage ratio
A solvency ratio calculated as total assets divided by total shareholders’ equity.
Cintas Corp. financial leverage ratio increased from Q4 2024 to Q1 2025 but then slightly decreased from Q1 2025 to Q2 2025 not reaching Q4 2024 level.
Interest Coverage
Annual Data
Quarterly Data
Cintas Corp., interest coverage calculation (quarterly data)
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
Feb 29, 2020
Nov 30, 2019
Aug 31, 2019
May 31, 2019
Feb 28, 2019
Nov 30, 2018
Aug 31, 2018
Selected Financial Data (US$ in thousands )
Net income
448,495) 452,033) 414,315) 397,579) 374,613) 385,085) 346,201) 325,827) 324,293) 351,689) 294,461) 315,448) 294,669) 331,179) 267,722) 258,384) 284,857) 300,005) 144,585) 234,520) 246,120) 250,812) 226,119) 203,334) 243,013) 212,515)
Less: Income (loss) from discontinued operations, net of tax
—) —) —) —) —) —) —) —) —) —) —) —) —) —) —) —) —) —) —) —) (323) —) (52) 2,411) 19) (32)
Add: Income tax expense
117,192) 84,629) 112,824) 98,621) 99,249) 91,349) 99,668) 92,539) 92,065) 60,866) 86,991) 70,183) 64,713) 41,124) 64,271) 43,619) 43,676) 25,215) 37,093) 54,536) 62,127) 28,175) 62,729) 50,632) 77,530) 28,873)
Add: Interest expense
26,665) 25,619) 24,076) 25,530) 26,590) 24,544) 25,773) 28,819) 28,920) 27,720) 23,058) 22,030) 21,902) 21,854) 24,551) 24,552) 24,557) 24,550) 25,952) 25,943) 26,177) 27,321) 25,782) 26,770) 24,880) 24,304)
Earnings before interest and tax (EBIT)
592,352) 562,281) 551,215) 521,730) 500,452) 500,978) 471,642) 447,185) 445,278) 440,275) 404,510) 407,661) 381,284) 394,157) 356,544) 326,555) 353,090) 349,770) 207,630) 314,999) 334,747) 306,308) 314,682) 278,325) 345,404) 265,724)
Solvency Ratio
Interest coverage1
21.86 20.98 20.59 19.47 18.16 17.26 16.22 16.01 16.69 17.25 17.87 17.04 15.71 14.98 14.11 12.42 12.13 11.76 11.04 12.08 11.64 11.88 11.84 — — —
Based on:
10-Q (reporting date: 2024-11-30) ,
10-Q (reporting date: 2024-08-31) ,
10-K (reporting date: 2024-05-31) ,
10-Q (reporting date: 2024-02-29) ,
10-Q (reporting date: 2023-11-30) ,
10-Q (reporting date: 2023-08-31) ,
10-K (reporting date: 2023-05-31) ,
10-Q (reporting date: 2023-02-28) ,
10-Q (reporting date: 2022-11-30) ,
10-Q (reporting date: 2022-08-31) ,
10-K (reporting date: 2022-05-31) ,
10-Q (reporting date: 2022-02-28) ,
10-Q (reporting date: 2021-11-30) ,
10-Q (reporting date: 2021-08-31) ,
10-K (reporting date: 2021-05-31) ,
10-Q (reporting date: 2021-02-28) ,
10-Q (reporting date: 2020-11-30) ,
10-Q (reporting date: 2020-08-31) ,
10-K (reporting date: 2020-05-31) ,
10-Q (reporting date: 2020-02-29) ,
10-Q (reporting date: 2019-11-30) ,
10-Q (reporting date: 2019-08-31) ,
10-K (reporting date: 2019-05-31) ,
10-Q (reporting date: 2019-02-28) ,
10-Q (reporting date: 2018-11-30) ,
10-Q (reporting date: 2018-08-31) .
1 Q2 2025 Calculation Q2 2025
+ EBITQ1 2025
+ EBITQ4 2024
+ EBITQ3 2024 )
÷ (Interest expenseQ2 2025
+ Interest expenseQ1 2025
+ Interest expenseQ4 2024
+ Interest expenseQ3 2024 )592,352 + 562,281 + 551,215 + 521,730 )
÷ (26,665 + 25,619 + 24,076 + 25,530 )
= 21.86
Solvency ratio
Description
The company
Interest coverage ratio
A solvency ratio calculated as EBIT divided by interest payments.
Cintas Corp. interest coverage ratio improved from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.
