CINTAS CORP (CTAS)

Cintas Corporation, a Washington corporation founded in 1968 and headquartered in the U.S., provides a broad range of products and services—including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training—to more than one million businesses primarily in the U.S., as well as Canada and Latin America, under its "Ready for the Workday" positioning. The company operates through two reportable segments: Uniform Rental and Facility Services (rental and servicing of uniforms, flame-resistant clothing, mats, mops, shop towels, restroom supplies, and catalog sales), which generated $7.47 billion in fiscal 2024 revenue, and First Aid and Safety Services, which generated $1.07 billion; the remainder of the business (Fire Protection Services and Uniform Direct Sale) is grouped under "All Other," contributing $1.06 billion, for total fiscal 2024 revenue of $9.60 billion, up from $8.82 billion in fiscal 2023 and $7.85 billion in fiscal 2022. Cintas serves a highly diversified customer base with no single customer exceeding 1% of total revenue, operating in local, fragmented markets against national, regional, and local competitors, as well as in-house alternatives.

As of May 31, 2024, the company operated roughly 11,700 local delivery routes, 467 operational facilities, 12 distribution centers, and five manufacturing facilities, sourcing products from vetted third-party suppliers under a vendor code of conduct. U.S. operations account for over 90% of consolidated revenue, with additional operations conducted through subsidiaries primarily in Canada. The company is subject to various environmental regulations (including the Clean Air Act, Clean Water Act, and RCRA) and data privacy laws, with environmental spending on water treatment and waste removal of approximately $27.0 million in fiscal 2024, though compliance costs have not been material to operations.

Cintas employed approximately 46,500 employee-partners globally as of May 31, 2024, with about 1,000 represented by labor unions, and emphasizes human capital initiatives spanning workplace culture, safety (including OSHA VPP Star site recognitions), wellness programs, diversity/equity/inclusion efforts through six Employee-Partner Resource Groups, talent development, and competitive compensation and benefits.