Cintas (CTAS)

NASDAQIndustrialsSpecialty Business ServicesSnapshot 2026-10-15

$213.69+0.30%

Close 2026-10-16 · 1-day change

Read the published Living FV report summary

Investment OutlookAs of Oct 15, 2026

What could strengthen or challenge Cintas’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.7%

+10% or more+5%0%−5%−10% or less

6.13 → 6.18 EPS · FY ending May 31, 2028 · 13 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 12 to 13; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Living FV™

Living Fair Value by QuarterlyIQ

A valuation that evolves as the business changes.

A published Living FV snapshot is not available yet. The valuation workflow remains discoverable; a market target cannot supply the missing evidence.

View Living FV report and workflow

What the Thesis Depends On

4 key conditions need to be met for the investment thesis to play out.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Successful integration of UniFirst acquisition	A supporting condition in Cintas's published investment case. The stated target is UniFirst acquisition fully integrated and accretive by FY27.	Intact	Acquisition causes material profit or cash flow decline in FY27	Qualitative condition This condition has no defined numerical measure. Context reviewed through Oct 15, 2026Last status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Maintain strong $2 billion revolving credit facility	It has a strong credit facility to support growth and capital needs.	Intact	Credit facility reduced below $1.5 billion or covenant breach	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
EPS reaches about $4.88 per share	Profit per share is rising, with EPS guidance raised to about $4.88.	Intact	EPS falls below $4.60 in FY26	Diluted EPS: $1.36 per share FY2027-Q1; GAAP. Published target: ~$4.88 per share. Target period is not explicitly aligned with this observation. Source published Oct 7, 20261.36 USD/share · source valueSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2027-Q1 · Period ending Aug 31, 2026 Source: company_financial_results. Reference: b5421445-6dff-4594-8886-cdd6469c32a2. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Management raised fiscal 2027 adjusted diluted EPS guidance from $5.36-$5.50 to $5.45-$5.54 in 2026-Q3. Diluted EPS increased from $1.20 in 2025-Q1 to $1.36 in 2027-Q1, a 13.3% increase. The trajectory shows delivery of improved earnings consistent with guidance. Delivery assessment Oct 15, 2026
Annual revenue reaches about $11.22 billion	Cintas grows revenue about 10% a year, reaching $11.2 billion in fiscal 2026.	Intact	Annual revenue falls below $10.5B in FY26	Revenue: $3.014B FY2027-Q1; GAAP. Published target: ~$11.22B. Target period is not explicitly aligned with this observation. Source published Oct 7, 20263,013,981,000 USD · source valueSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2027-Q1 · Period ending Aug 31, 2026 Source: company_financial_results. Reference: b5421445-6dff-4594-8886-cdd6469c32a2. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Management raised fiscal 2027 revenue guidance from $12.10-$12.25 billion to $12.15-$12.27 billion in 2026-Q3. Revenue grew from $2.72 billion in 2025-Q1 to $3.01 billion in 2027-Q1, a 10.9% increase. The trajectory is delivering consistent growth aligned with raised guidance. Delivery assessment Oct 15, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2028 · fiscal year ending 2028-05-31 · fmp

FY2028 EPS$6.18

$6.09 → $6.18 · observed estimates

FY2028 revenue$13.17B

$13.09B → $13.17B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2028 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$6.09	$13,091,331,250	13 / 17
2026-07-25	$6.09	$13,091,331,250	13 / 17
2026-07-26	$6.09	$13,091,331,250	13 / 17
2026-07-27	$6.09	$13,091,331,250	13 / 17
2026-07-28	$6.09	$13,091,331,250	13 / 17
2026-07-29	$6.11	$13,109,649,702	12 / 14
2026-07-30	$6.11	$13,109,649,702	12 / 14
2026-07-31	$6.09	$13,105,696,980	13 / 17
2026-08-01	$6.11	$13,116,357,348	12 / 14
2026-08-02	$6.09	$13,105,696,980	13 / 17
2026-08-03	$6.11	$13,116,357,348	12 / 14
2026-08-04	$6.11	$13,116,357,348	12 / 14
2026-08-05	$6.09	$13,108,344,040	13 / 17
2026-08-06	$6.09	$13,108,344,040	13 / 17
2026-08-07	$6.11	$13,116,357,348	12 / 14
2026-08-08	$6.09	$13,120,324,140	13 / 17
2026-08-09	$6.09	$13,120,324,140	13 / 17
2026-08-10	$6.09	$13,120,324,140	13 / 17
2026-08-11	$6.11	$13,116,357,348	12 / 14
2026-08-12	$6.11	$13,116,357,348	12 / 14
2026-08-13	$6.09	$13,120,324,140	13 / 17
2026-08-14	$6.11	$13,116,357,348	12 / 14
2026-08-15	$6.11	$13,116,357,348	12 / 14
2026-08-16	$6.11	$13,116,357,348	12 / 14
2026-08-17	$6.11	$13,116,357,348	12 / 14
2026-08-18	$6.11	$13,116,357,348	12 / 14
2026-08-19	$6.11	$13,116,357,348	12 / 14
2026-08-20	$6.12	$13,114,274,923	12 / 14
2026-08-21	$6.12	$13,114,274,923	12 / 14
2026-08-22	$6.12	$13,114,274,923	12 / 14
2026-08-23	$6.12	$13,114,274,923	12 / 14
2026-08-24	$6.12	$13,114,274,923	12 / 14
2026-08-25	$6.12	$13,114,274,923	12 / 14
2026-08-26	$6.12	$13,114,274,923	12 / 14
2026-08-27	$6.12	$13,114,274,923	12 / 14
2026-08-28	$6.12	$13,114,274,923	12 / 14
2026-08-29	$6.12	$13,114,274,923	12 / 14
2026-08-30	$6.13	$13,123,399,923	12 / 14
2026-08-31	$6.13	$13,123,399,923	12 / 14
2026-09-01	$6.13	$13,123,399,923	12 / 14
2026-09-02	$6.13	$13,123,399,923	12 / 14
2026-09-03	$6.13	$13,123,399,923	12 / 14
2026-09-04	$6.13	$13,123,399,923	12 / 14
2026-09-05	$6.13	$13,123,399,923	12 / 14
2026-09-06	$6.13	$13,123,399,923	12 / 14
2026-09-07	$6.13	$13,123,399,923	12 / 14
2026-09-08	$6.13	$13,123,399,923	12 / 14
2026-09-09	$6.13	$13,123,399,923	12 / 14
2026-09-10	$6.13	$13,123,399,923	12 / 14
2026-09-11	$6.13	$13,123,399,923	12 / 14
2026-09-12	$6.13	$13,123,399,923	12 / 14
2026-09-13	$6.13	$13,123,399,923	12 / 14
2026-09-14	$6.13	$13,123,399,923	12 / 14
2026-09-15	$6.13	$13,123,399,923	12 / 14
2026-09-16	$6.13	$13,123,399,923	12 / 14
2026-09-17	$6.13	$13,123,399,923	12 / 14
2026-09-18	$6.13	$13,123,399,923	12 / 14
2026-09-19	$6.13	$13,123,399,923	12 / 14
2026-09-20	$6.13	$13,123,399,923	12 / 14
2026-09-21	$6.13	$13,123,399,923	12 / 14
2026-09-22	$6.14	$13,133,117,916	12 / 14
2026-09-23	$6.14	$13,133,117,916	12 / 14
2026-09-24	$6.14	$13,133,117,916	12 / 14
2026-09-25	$6.17	$13,167,580,469	13 / 15
2026-09-26	$6.17	$13,168,524,913	12 / 15
2026-09-27	$6.17	$13,168,524,913	11 / 15
2026-09-28	$6.17	$13,168,524,913	12 / 15
2026-09-29	$6.17	$13,168,524,913	11 / 15
2026-09-30	$6.17	$13,168,524,913	11 / 15
2026-10-01	$6.18	$13,168,314,036	13 / 15
2026-10-02	$6.18	$13,168,314,036	13 / 15
2026-10-03	$6.18	$13,168,314,036	13 / 15
2026-10-04	$6.18	$13,168,314,036	13 / 15
2026-10-05	$6.18	$13,168,314,036	13 / 15
2026-10-06	$6.18	$13,168,314,036	13 / 15
2026-10-07	$6.18	$13,168,314,036	13 / 15
2026-10-08	$6.18	$13,168,314,036	13 / 15
2026-10-09	$6.18	$13,168,314,036	13 / 15
2026-10-10	$6.18	$13,168,314,036	13 / 15
2026-10-11	$6.18	$13,168,314,036	13 / 15
2026-10-12	$6.18	$13,168,314,036	13 / 15
2026-10-13	$6.18	$13,168,314,036	13 / 15
2026-10-14	$6.18	$13,168,314,036	13 / 15
2026-10-15	$6.18	$13,168,314,036	13 / 15

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	9	10	2
2026-06-01	9	10	2
2026-07-01	10	10	1
2026-08-01	10	9	1
2026-09-01	10	9	1
2026-10-01	10	9	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 10 Buy / Strong Buy · 9 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades7 maintains

Recent actions · Sep 16–Oct 15 · 7 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Argus ResearchSep 29

$240.00New observation · no comparable prior

Robert W. BairdSep 24 · prior Jul 16

$214.00 → $222.00+3.7%

$0$132.00$264.00

1 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 16, 2026–Oct 15, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Successful integration of UniFirst acquisitionQualitative condition
Maintain strong $2 billion revolving credit facilityDirect metric needs a verified mapping
EPS reaches about $4.88 per shareDiluted EPS: $1.36 per share
Annual revenue reaches about $11.22 billionRevenue: $3.014B

Next proof point

Next earnings date unavailable

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.0%Typical daily move · historical

Downside history

-20.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Cintas outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 10, 2026

What kind of bet this is

CTAS represents a durable compounder with a focus on consistent growth and strategic acquisitions. The current thesis state is intact, supported by recent financial performance and management's commitment to key priorities.

What's priced into Cintas

The market appears to price CTAS at an expensive level compared to peers, reflecting a durable premium. There is an expectations gap of 0.28, indicating that investors may anticipate continued strong performance despite the current headwinds in the sector.

What the fundamentals likely do

Fundamentals are likely to remain stable as management executes on its priorities, including the acquisition of UniFirst and raising revenue and EPS guidance. However, there is a moderate risk due to the potential for guidance cuts, which could impact sentiment.

What Cintas hinges on

The thesis hinges on the performance of sector bellwethers like CPRT, RBA, and ROL. If these companies continue to exceed earnings expectations, CTAS could benefit from positive sector momentum. Conversely, any misses or lowered guidance from these peers could pose risks to CTAS's outlook.