Cintas, the American workers' kit producer is slightly overvalued, according to Wolfteam Ltd.'s projections and estimates.
With 8.82 billion USD revenue, growing at 12.24 % with net profit margin of 15.29 % for 2023 Cintas' intrinsic value is 65 billion USD compared with Cintas' current market capitalization of 73 billion USD.
Here is an excerpt from Cintas' fiscal third quarter 2024 results:
CINCINNATI, March 27, 2024 -- Cintas Corporation (Nasdaq: CTAS)
today reported results for its fiscal 2024 third quarter ended February
29, 2024. Revenue for the third quarter of fiscal 2024 was $2.41
billion compared to $2.19 billion in last year’s third quarter, an
increase of 9.9%. The organic revenue growth rate for the third quarter
of fiscal 2024, which adjusts for the impacts of acquisitions, foreign
currency exchange rate fluctuations and differences in the number of
workdays, was 7.7%.
Gross margin for the third quarter of
fiscal 2024 was $1.19 billion compared to $1.03 billion in last year’s
third quarter, an increase of 14.9%. Gross margin as a percentage of
revenue was 49.4% for the third quarter of fiscal 2024 compared to 47.2%
in last year's third quarter, an increase of 220 basis points. Energy
expenses comprised of gasoline, natural gas and electricity were 40
basis points lower for the third quarter of fiscal 2024 compared to last
year's third quarter.
Operating income for the third
quarter of fiscal 2024 increased 16.6% to $520.8 million compared to
$446.8 million in last year's third quarter. Operating income as a
percentage of revenue was 21.6% in the third quarter of fiscal 2024
compared to 20.4% in last year's third quarter.
Net income
was $397.6 million for the third quarter of fiscal 2024 compared to
$325.8 million in last year's third quarter, an increase of 22.0%. The
third quarter of fiscal 2024 effective tax rate was 19.9% compared to
22.1% in last year's third quarter. The tax rates in both quarters were
impacted by certain discrete items, primarily the tax accounting impact
for stock-based compensation. Third quarter of fiscal 2024 diluted
earnings per share (EPS) was $3.84 compared to $3.14 in last year's
third quarter, an increase of 22.3%.
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