Company Valuation: Cintas Corporation

Data adjusted to current consolidation scope
Fiscal Period: May 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 37,141 40,759 48,017 68,789 91,458 80,750 - -
Change - 9.74% 17.81% 43.26% 32.95% -11.71% - -
Enterprise Value (EV) 1 39,189 43,464 50,380 71,115 93,848 70,658 81,860 81,364
Change - 10.91% 15.91% 41.16% 31.97% -24.71% -1.27% -0.61%
P/E 34.5x 34.2x 36.3x 44.8x 51.5x 34.9x 36.8x 33.1x
PBR 9.98x 12.2x 12.4x 15.9x 19.5x 13.5x 12.5x 10.8x
PEG - 2.5x 3.2x 2.7x 3.2x 3x 3x 3x
Capitalization / Revenue 5.22x 5.19x 5.45x 7.17x 8.84x 6.08x 6.61x 6.17x
EV / Revenue 5.51x 5.53x 5.71x 7.41x 9.08x 6.27x 6.7x 6.22x
EV / EBITDA 22.1x 21.9x 22.8x 28.3x 32.9x 22.7x 23.8x 21.9x
EV / EBIT 28.3x 27.4x 27.9x 34.4x 39.8x 27.1x 28.4x 25.8x
EV / FCF 32.2x 33.5x 39.8x 42.6x 53.4x 37.6x 37x 33x
FCF Yield 3.11% 2.98% 2.51% 2.35% 1.87% 2.66% 2.7% 3.03%
Dividend per Share 2 1.252 0.95 1.15 1.35 1.56 1.748 1.892 2.013
Rate of return 1.42% 0.95% 0.97% 0.8% 0.69% 0.87% 0.94% 1%
EPS 2 2.56 2.912 3.248 3.788 4.4 4.91 5.486 6.088
Distribution rate 48.9% 32.6% 35.4% 35.6% 35.5% 35.8% 34.5% 33.1%
Net sales 1 7,116 7,854 8,816 9,597 10,340 11,265 12,211 13,091
EBITDA 1 1,773 1,987 2,212 2,511 2,854 3,119 3,437 3,721
EBIT 1 1,385 1,587 1,803 2,069 2,360 2,607 2,886 3,158
Net income 1 1,111 1,236 1,348 1,572 1,812 2,000 2,216 2,454
Net Debt 1 2,048 2,705 2,362 2,326 2,391 2,139 1,110 614
Reference price 2 88.38 99.58 118.04 169.49 226.50 201.80 201.80 201.80
Nbr of stocks (in thousands) 420,213 409,300 406,807 405,853 403,787 400,147 - -
Announcement Date 7/15/21 7/14/22 7/13/23 7/18/24 7/17/25 7/15/26 - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
39.04x4.57x14.91x1.17% 20.6B
29.78x1.24x12.46x1.09% 15.29B
19.25x2.07x10.24x3.63% 13.92B
25.15x2.83x12.14x2.98% 11.99B
24.9x3.43x13.24x2.34% 7.75B
15.47x0.67x9.62x1.36% 7.07B
44.18x1.99x15.56x0.46% 5.25B
8.64x0.99x5.24x2.44% 5.19B
17.92x0.38x8.56x4.15% 5.07B
Average 24.93x 2.02x 11.33x 2.18% 10.24B
Weighted average by Cap. 27.13x 2.44x 12.03x 2.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  5. Valuation Cintas Corporation