CINTAS (CTAS) Company Report

Cintas agreed to acquire UniFirst for $5.5 billion, combining complementary uniform and facility services across North America.
UniFirst shareholders will receive $155 in cash plus 0.772 Cintas shares per share (implying $310 total per share based on a Cintas price of $200.77).
The companies expect $375 million of operating cost synergies within four years, with EPS accretion by the end of the second full year and pro forma leverage of 1.5× debt/EBITDA, while maintaining investment-grade ratings and dividend policy.
The transaction is expected to close in H2 2026, subject to customary regulatory and shareholder approvals; the Crotty family has agreed to vote in favor.

13 hours ago

Transcript

Cintas agrees to acquire UniFirst for $5.5 billion

CTAS

M&A

Cintas agreed to acquire UniFirst in a $5.5 billion cash and stock transaction.
UniFirst shareholders will receive $310 per share (comprising $155 cash + 0.772 Cintas shares) based on a Cintas share price of $200.77.
The deal is expected to generate $375 million in operating cost synergies within four years and be accretive to EPS by the end of the second full year post-close.
Financing from cash on hand, committed credit lines and fully committed bridge financing preserves pro forma leverage at ~1.5 x debt/EBITDA, with no change to dividend policy.
The transaction is expected to close in H2 2026, subject to regulatory and shareholder approvals, with the Perotti family’s support.

13 hours ago

Transcript

Cintas announces agreement to acquire UniFirst

CTAS

M&A

Cintas announced a definitive agreement to acquire UniFirst in a cash and stock transaction valued at $5.5 billion.
Under the deal, UniFirst shareholders will receive $310 per share (comprising $155 in cash and 0.772 Cintas shares based on a $200.77 share price), implying an 8× trailing 12-month EBITDA multiple including synergies.
Cintas expects $375 million in operating cost synergies to be realized within four years and projects the transaction to be EPS-accretive by the end of the second full year post-closing.
The acquisition will be financed with cash on hand, committed credit facilities, and bridge financing, targeting 1.5× pro forma debt/EBITDA leverage at closing, which is expected in the second half of 2026, pending customary approvals.

14 hours ago

Transcript

Cintas announces acquisition of UniFirst

CTAS

M&A

Cintas will acquire UniFirst for $310 per share, comprising $155 in cash and 0.7720 shares of Cintas stock per UniFirst share.
The deal implies an $5.5 billion enterprise value (8.0× run-rate TTM EBITDA), including $375 million of operating cost synergies.
Financing will draw on cash on hand, committed credit lines and secured bridge financing, with 1.5× pro forma debt/EBITDA at closing.
The transaction is unanimously approved by both boards, subject to UniFirst shareholder and customary approvals, and is expected to close in H2 2026.
A $350 million reverse termination fee is payable by Cintas if the merger is blocked on antitrust grounds.

15 hours ago

Presentation

Cintas to acquire UniFirst in $5.5B transaction

CTAS

M&A

Cintas will acquire UniFirst for $310 per share in cash and stock, representing an enterprise value of $5.5 billion.
UniFirst shareholders will receive $155.00 in cash plus 0.7720 Cintas shares for each share, with no additional consideration for Class B shares.
The deal is expected to generate approximately $375 million of operating cost synergies within four years.
Transaction is projected to be EPS accretive by the end of the second full year after closing, with a net leverage ratio of 1.5x debt to EBITDA at close.
Unanimously approved by both boards and expected to close in H2 2026, subject to customary approvals.

16 hours ago

Press Release

Cintas proposes acquisition of UniFirst at $275 per share

CTAS

M&A

Takeover Bid

Cintas Corporation submits a proposal to acquire all outstanding common and Class B shares of UniFirst for $275.00 per share in cash, implying a total equity value of $5.2 billion and a 64% premium to UniFirst’s 90-day average closing price as of December 11, 2025.
The all-cash offer is not subject to any financing contingencies and would be funded from Cintas’s cash on hand, committed credit lines, or other available sources.
Cintas has offered a $350 million reverse termination fee payable to UniFirst if antitrust authorities block the merger, and anticipates a clear path to regulatory approvals with limited confirmatory due diligence.
The proposal was delivered to UniFirst’s board on December 12, 2025; as of December 16, 2025, Cintas reports no substantive engagement from UniFirst.

Dec 22, 2025, 5:30 PM

8-K

Cintas proposes acquisition of UniFirst at $275/share

CTAS

M&A

Cintas proposed an all-cash acquisition of UniFirst at $275 per share, representing a 64% premium and valuing the deal at $5.2 billion.
The proposal carries no financing contingencies, to be funded from cash on hand and committed credit facilities, and does not require Cintas shareholder approval.
To address regulatory risks, Cintas offered a $350 million reverse termination fee and agreed to litigate antitrust challenges as needed, outlining covenants for obtaining approvals.
Cintas plans to complete limited confirmatory due diligence within 3–4 weeks and negotiate definitive agreements in parallel for swift closing.

Dec 22, 2025, 1:00 PM

Press Release

Cintas announces Q2 FY2026 results

CTAS

Earnings

Guidance Update

Share Buyback

Revenue of $2.80 billion, up 9.3% year-over-year (organic growth 8.6%) for Q2 FY2026.
Net income of $495.3 million, an increase of 10.4%, and diluted EPS of $1.21, up 11.0%.
Operating income rose to $655.7 million (23.4% margin), compared to $591.4 million (23.1% margin) in Q2 FY2025.
Raised FY2026 guidance: revenue to $11.15–11.22 billion (from $11.06–11.18 billion) and diluted EPS to $4.81–4.88 (from $4.74–4.86).
Returned $622.5 million in share buybacks during Q2 and $180.7 million in dividends on December 15, 2025, totaling $1.24 billion in shareholder distributions for H1 FY2026.

Dec 19, 2025, 7:53 PM

Press Release

Cintas announces Q2 2026 results

CTAS

Earnings

Guidance Update

Share Buyback

Revenue of $2.80 B (+9.3% reported, +8.6% organic), gross margin 50.4%, operating income $655.7 M (+10.9%), EPS $1.21 (+11%)
Organic growth by segment: uniform rental +7.8%, first aid & safety +14.1%, fire protection +11.5%, uniform direct sale +2%
Free cash flow of $425 M (+23.8%); Q2 CapEx $106.3 M; acquisitions $85.6 M; dividends $182.3 M; share buybacks $622.5 M; H1 capital returned $1.24 B
Raised Fiscal 2026 guidance to $11.15–11.22 B revenue (+7.8%–8.5%) and $4.81–4.88 EPS (+9.3%–10.9%); Q2 operating margin a record 23.4% and 27% incremental margin

Dec 18, 2025, 3:00 PM

Transcript

Cintas reports Q2 fiscal 2026 results

CTAS

Earnings

Guidance Update

Share Buyback

Total revenue grew 9.3% to $2.8 billion, with organic growth of 8.6%, and operating margin reached an all-time high of 23.4% as operating income rose 10.9% to $655.7 million.
Diluted EPS was $1.21, up 11%, and free cash flow hit $425 million (+23.8%); the company invested $106.3 million in capex, completed $85.6 million of acquisitions, paid $182.3 million in dividends, and repurchased $622.5 million of shares.
Segment organic growth: Uniform Rental & Facility Services +7.8%, First Aid & Safety +14.1%, Fire Protection +11.5%, Uniform Direct Sale +2%.
Raised Fiscal 2026 guidance to $11.15–$11.22 billion in revenue (7.8%–8.5% growth) and $4.81–$4.88 in EPS (9.3%–10.9% growth).

Dec 18, 2025, 3:00 PM

Transcript

Fintool News

In-depth analysis and coverage of CINTAS.

Deals & Capital Markets

Cintas Makes Third Run at UniFirst with $5.2 Billion Bid as Activist Pressure Mounts

Dec 22, 2025

View all news

Earnings Transcripts

Quarterly earnings call transcripts for CINTAS.

Q2 2026

Dec 18, 2025

→

Q1 2026

Sep 24, 2025

→

View All Transcripts

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Todd Schneider say about margins?What are CINTAS's strategic priorities?How is CINTAS positioned vs competitors?How did CINTAS do last quarter?

CINTAS (CTAS)

Analyst Earnings Quarterly Reports

Q1 2026

Q4 2025

Q3 2025

Q2 2025

Executives

Todd Schneider

Brock Denton

James Rozakis

Scott Farmer

Scott Garula

Board Members

Beverly Carmichael

Joseph Scaminace

Karen Carnahan

Martin Mucci

Melanie Barstad

Robert Coletti

Ronald Tysoe

Analyst Coverage

Jasper Bibb

Scott Schneeberger

George Tong

Stephanie Moore

Andrew Steinerman

Faiza Alwy

Jason Haas

Joshua Chan

Shlomo Rosenbaum

Toni Kaplan

Ashish Sabadra

Manav Patnaik

Andrew J. Wittmann

Kartik Mehta

Leo Carrington

Ronan Kennedy

Alex Hess

Jimmy

Luke McFadden

Timothy Mulrooney

Andrew J. Whitman

Benjamin Luke McFadden

Josh Chan

Keen Fai Tong

Tim Mulrooney

Yehuda Silverman

David Paige

David Paige Papadogonas

Harold Antor

Harold Lance

Justin Hauke

Latest news

Fintool News

Cintas Makes Third Run at UniFirst with $5.2 Billion Bid as Activist Pressure Mounts

Earnings Transcripts

Q2 2026

Q1 2026

Ask Fintool AI Agent