Intrinsic value of Cintas - CTAS

Previous Close

$203.57

  Intrinsic Value

$93.92

stock screener

  Rating & Target

str. sell

-54%

Previous close

$203.57

 
Intrinsic value

$93.92

 
Up/down potential

-54%

 
Rating

str. sell

We calculate the intrinsic value of CTAS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 21.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  11.00
  10.40
  9.86
  9.37
  8.94
  8.54
  8.19
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.53
  6.37
  6.24
  6.11
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.31
  5.28
Revenue, $m
  5,909
  6,523
  7,166
  7,838
  8,538
  9,268
  10,027
  10,816
  11,636
  12,488
  13,374
  14,294
  15,251
  16,247
  17,282
  18,359
  19,482
  20,651
  21,869
  23,140
  24,466
  25,849
  27,295
  28,805
  30,383
  32,033
  33,758
  35,564
  37,454
  39,433
Variable operating expenses, $m
  4,926
  5,403
  5,903
  6,425
  6,969
  7,535
  8,125
  8,738
  9,375
  10,037
  10,388
  11,103
  11,846
  12,619
  13,423
  14,260
  15,131
  16,039
  16,986
  17,973
  19,003
  20,077
  21,200
  22,373
  23,598
  24,880
  26,220
  27,623
  29,091
  30,628
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  4,926
  5,403
  5,903
  6,425
  6,969
  7,535
  8,125
  8,738
  9,375
  10,037
  10,388
  11,103
  11,846
  12,619
  13,423
  14,260
  15,131
  16,039
  16,986
  17,973
  19,003
  20,077
  21,200
  22,373
  23,598
  24,880
  26,220
  27,623
  29,091
  30,628
Operating income, $m
  982
  1,120
  1,263
  1,413
  1,570
  1,733
  1,902
  2,078
  2,261
  2,452
  2,986
  3,192
  3,405
  3,628
  3,859
  4,100
  4,350
  4,611
  4,883
  5,167
  5,463
  5,772
  6,095
  6,432
  6,784
  7,153
  7,538
  7,941
  8,363
  8,805
EBITDA, $m
  1,710
  1,888
  2,074
  2,268
  2,471
  2,682
  2,902
  3,130
  3,367
  3,614
  3,870
  4,137
  4,414
  4,702
  5,001
  5,313
  5,638
  5,976
  6,329
  6,696
  7,080
  7,481
  7,899
  8,336
  8,792
  9,270
  9,769
  10,292
  10,839
  11,411
Interest expense (income), $m
  0
  169
  196
  225
  254
  285
  318
  351
  386
  422
  460
  500
  540
  583
  627
  673
  720
  770
  822
  876
  932
  990
  1,052
  1,115
  1,182
  1,252
  1,324
  1,400
  1,480
  1,563
  1,650
Earnings before tax, $m
  813
  923
  1,039
  1,159
  1,284
  1,415
  1,551
  1,692
  1,839
  1,991
  2,487
  2,651
  2,823
  3,001
  3,186
  3,379
  3,580
  3,789
  4,007
  4,235
  4,472
  4,720
  4,979
  5,250
  5,533
  5,828
  6,138
  6,461
  6,800
  7,155
Tax expense, $m
  220
  249
  280
  313
  347
  382
  419
  457
  496
  538
  671
  716
  762
  810
  860
  912
  967
  1,023
  1,082
  1,143
  1,208
  1,275
  1,344
  1,417
  1,494
  1,574
  1,657
  1,745
  1,836
  1,932
Net income, $m
  594
  674
  758
  846
  938
  1,033
  1,132
  1,235
  1,342
  1,454
  1,815
  1,936
  2,061
  2,191
  2,326
  2,467
  2,613
  2,766
  2,925
  3,092
  3,265
  3,446
  3,635
  3,832
  4,039
  4,255
  4,480
  4,717
  4,964
  5,223

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,595
  8,384
  9,211
  10,074
  10,975
  11,912
  12,888
  13,902
  14,956
  16,052
  17,190
  18,373
  19,603
  20,882
  22,213
  23,598
  25,041
  26,543
  28,109
  29,743
  31,447
  33,225
  35,083
  37,024
  39,052
  41,173
  43,391
  45,712
  48,141
  50,685
Adjusted assets (=assets-cash), $m
  7,595
  8,384
  9,211
  10,074
  10,975
  11,912
  12,888
  13,902
  14,956
  16,052
  17,190
  18,373
  19,603
  20,882
  22,213
  23,598
  25,041
  26,543
  28,109
  29,743
  31,447
  33,225
  35,083
  37,024
  39,052
  41,173
  43,391
  45,712
  48,141
  50,685
Revenue / Adjusted assets
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
  0.778
Average production assets, $m
  3,906
  4,312
  4,737
  5,181
  5,644
  6,126
  6,628
  7,149
  7,691
  8,255
  8,840
  9,449
  10,081
  10,739
  11,423
  12,136
  12,877
  13,650
  14,455
  15,295
  16,172
  17,086
  18,042
  19,040
  20,083
  21,174
  22,314
  23,508
  24,757
  26,065
Working capital, $m
  112
  124
  136
  149
  162
  176
  191
  206
  221
  237
  254
  272
  290
  309
  328
  349
  370
  392
  416
  440
  465
  491
  519
  547
  577
  609
  641
  676
  712
  749
Total debt, $m
  3,635
  4,160
  4,709
  5,282
  5,880
  6,502
  7,150
  7,823
  8,523
  9,251
  10,007
  10,792
  11,609
  12,458
  13,342
  14,262
  15,219
  16,217
  17,257
  18,342
  19,473
  20,654
  21,888
  23,176
  24,523
  25,931
  27,404
  28,945
  30,558
  32,247
Total liabilities, $m
  5,043
  5,567
  6,116
  6,689
  7,287
  7,910
  8,558
  9,231
  9,931
  10,658
  11,414
  12,200
  13,017
  13,866
  14,750
  15,669
  16,627
  17,625
  18,665
  19,749
  20,881
  22,062
  23,295
  24,584
  25,931
  27,339
  28,812
  30,353
  31,966
  33,655
Total equity, $m
  2,552
  2,817
  3,095
  3,385
  3,688
  4,003
  4,330
  4,671
  5,025
  5,393
  5,776
  6,173
  6,587
  7,016
  7,464
  7,929
  8,414
  8,918
  9,445
  9,994
  10,566
  11,164
  11,788
  12,440
  13,122
  13,834
  14,579
  15,359
  16,176
  17,030
Total liabilities and equity, $m
  7,595
  8,384
  9,211
  10,074
  10,975
  11,913
  12,888
  13,902
  14,956
  16,051
  17,190
  18,373
  19,604
  20,882
  22,214
  23,598
  25,041
  26,543
  28,110
  29,743
  31,447
  33,226
  35,083
  37,024
  39,053
  41,173
  43,391
  45,712
  48,142
  50,685
Debt-to-equity ratio
  1.420
  1.480
  1.520
  1.560
  1.590
  1.620
  1.650
  1.670
  1.700
  1.720
  1.730
  1.750
  1.760
  1.780
  1.790
  1.800
  1.810
  1.820
  1.830
  1.840
  1.840
  1.850
  1.860
  1.860
  1.870
  1.870
  1.880
  1.880
  1.890
  1.890
Adjusted equity ratio
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336
  0.336

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  594
  674
  758
  846
  938
  1,033
  1,132
  1,235
  1,342
  1,454
  1,815
  1,936
  2,061
  2,191
  2,326
  2,467
  2,613
  2,766
  2,925
  3,092
  3,265
  3,446
  3,635
  3,832
  4,039
  4,255
  4,480
  4,717
  4,964
  5,223
Depreciation, amort., depletion, $m
  727
  768
  811
  855
  901
  950
  1,000
  1,052
  1,106
  1,162
  884
  945
  1,008
  1,074
  1,142
  1,214
  1,288
  1,365
  1,446
  1,530
  1,617
  1,709
  1,804
  1,904
  2,008
  2,117
  2,231
  2,351
  2,476
  2,606
Funds from operations, $m
  1,321
  1,442
  1,569
  1,701
  1,839
  1,982
  2,132
  2,287
  2,448
  2,616
  2,699
  2,880
  3,069
  3,264
  3,468
  3,680
  3,901
  4,131
  4,371
  4,621
  4,882
  5,155
  5,439
  5,736
  6,047
  6,372
  6,712
  7,068
  7,440
  7,829
Change in working capital, $m
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  26
  27
  29
  30
  31
  33
  34
  36
  38
Cash from operations, $m
  1,310
  1,430
  1,557
  1,688
  1,826
  1,969
  2,117
  2,272
  2,433
  2,600
  2,683
  2,863
  3,051
  3,246
  3,449
  3,660
  3,880
  4,109
  4,348
  4,597
  4,857
  5,128
  5,412
  5,708
  6,017
  6,341
  6,679
  7,033
  7,404
  7,792
Maintenance CAPEX, $m
  -352
  -391
  -431
  -474
  -518
  -564
  -613
  -663
  -715
  -769
  -825
  -884
  -945
  -1,008
  -1,074
  -1,142
  -1,214
  -1,288
  -1,365
  -1,446
  -1,530
  -1,617
  -1,709
  -1,804
  -1,904
  -2,008
  -2,117
  -2,231
  -2,351
  -2,476
New CAPEX, $m
  -385
  -406
  -425
  -444
  -463
  -482
  -502
  -522
  -542
  -563
  -585
  -608
  -633
  -658
  -684
  -712
  -742
  -773
  -805
  -840
  -876
  -915
  -955
  -998
  -1,043
  -1,091
  -1,141
  -1,194
  -1,249
  -1,308
Cash from investing activities, $m
  -737
  -797
  -856
  -918
  -981
  -1,046
  -1,115
  -1,185
  -1,257
  -1,332
  -1,410
  -1,492
  -1,578
  -1,666
  -1,758
  -1,854
  -1,956
  -2,061
  -2,170
  -2,286
  -2,406
  -2,532
  -2,664
  -2,802
  -2,947
  -3,099
  -3,258
  -3,425
  -3,600
  -3,784
Free cash flow, $m
  573
  634
  700
  771
  845
  922
  1,003
  1,088
  1,176
  1,267
  1,272
  1,370
  1,473
  1,580
  1,690
  1,805
  1,924
  2,048
  2,177
  2,311
  2,451
  2,596
  2,748
  2,905
  3,070
  3,242
  3,421
  3,608
  3,804
  4,008
Issuance/(repayment) of debt, $m
  502
  524
  549
  573
  598
  623
  648
  673
  700
  727
  756
  786
  817
  849
  884
  920
  958
  998
  1,040
  1,085
  1,132
  1,181
  1,233
  1,289
  1,347
  1,408
  1,473
  1,541
  1,613
  1,689
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  502
  524
  549
  573
  598
  623
  648
  673
  700
  727
  756
  786
  817
  849
  884
  920
  958
  998
  1,040
  1,085
  1,132
  1,181
  1,233
  1,289
  1,347
  1,408
  1,473
  1,541
  1,613
  1,689
Total cash flow (excl. dividends), $m
  1,074
  1,158
  1,249
  1,344
  1,442
  1,545
  1,651
  1,761
  1,876
  1,995
  2,027
  2,156
  2,290
  2,429
  2,574
  2,725
  2,882
  3,046
  3,217
  3,396
  3,583
  3,777
  3,981
  4,194
  4,417
  4,650
  4,894
  5,149
  5,417
  5,697
Retained Cash Flow (-), $m
  -249
  -265
  -278
  -290
  -303
  -315
  -328
  -341
  -354
  -368
  -383
  -398
  -413
  -430
  -447
  -465
  -485
  -505
  -526
  -549
  -573
  -598
  -624
  -652
  -682
  -713
  -745
  -780
  -816
  -854
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  90
  100
  111
  122
  133
  145
  158
  170
  184
  198
  212
  227
  243
  259
  276
  294
  312
  331
  351
  372
  393
  416
  439
  464
  490
  517
  545
  574
  605
  637
Cash available for distribution, $m
  826
  893
  971
  1,054
  1,140
  1,230
  1,323
  1,420
  1,522
  1,627
  1,645
  1,759
  1,877
  1,999
  2,127
  2,259
  2,398
  2,541
  2,691
  2,847
  3,010
  3,180
  3,357
  3,542
  3,735
  3,937
  4,149
  4,370
  4,601
  4,843
Discount rate, %
  7.40
  7.77
  8.16
  8.57
  8.99
  9.44
  9.92
  10.41
  10.93
  11.48
  12.05
  12.66
  13.29
  13.95
  14.65
  15.38
  16.15
  16.96
  17.81
  18.70
  19.63
  20.62
  21.65
  22.73
  23.87
  25.06
  26.31
  27.63
  29.01
  30.46
PV of cash for distribution, $m
  769
  769
  768
  759
  741
  715
  683
  643
  598
  549
  470
  421
  371
  321
  274
  229
  188
  151
  120
  92
  70
  51
  37
  26
  18
  12
  8
  5
  3
  2
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services. Its segments include uniform rental and facility services, and first aid and safety services. Its uniform rental and facility service segment offers services, which include rental and servicing of uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items. Its first aid and safety service segment offers services, which include first aid and safety products and services. Rental processing plants, rental branches, first aid and safety facilities, fire protection facilities, direct sales offices, distribution centers and manufacturing facilities are all utilized by the businesses included in All Other.

FINANCIAL RATIOS  of  Cintas (CTAS)

Valuation Ratios
P/E Ratio 44.6
Price to Sales 4
Price to Book 9.3
Price to Tangible Book
Price to Cash Flow 28.1
Price to Free Cash Flow 43.7
Growth Rates
Sales Growth Rate 11%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -0.7%
Cap. Spend. - 3 Yr. Gr. Rate 13.3%
Financial Strength
Quick Ratio 1
Current Ratio 0.6
LT Debt to Equity 120.3%
Total Debt to Equity 136.1%
Interest Coverage 0
Management Effectiveness
Return On Assets 8.8%
Ret/ On Assets - 3 Yr. Avg. 11.8%
Return On Total Capital 11.2%
Ret/ On T. Cap. - 3 Yr. Avg. 15.3%
Return On Equity 23.2%
Return On Equity - 3 Yr. Avg. 27%
Asset Turnover 1
Profitability Ratios
Gross Margin 44.7%
Gross Margin - 3 Yr. Avg. 43.9%
EBITDA Margin 16.6%
EBITDA Margin - 3 Yr. Avg. 17.7%
Operating Margin 14.5%
Oper. Margin - 3 Yr. Avg. 15.4%
Pre-Tax Margin 12.9%
Pre-Tax Margin - 3 Yr. Avg. 14.1%
Net Profit Margin 9%
Net Profit Margin - 3 Yr. Avg. 11.1%
Effective Tax Rate 33.5%
Eff/ Tax Rate - 3 Yr. Avg. 35.6%
Payout Ratio 29.5%

CTAS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CTAS stock intrinsic value calculation we used $5323 million for the last fiscal year's total revenue generated by Cintas. The default revenue input number comes from 2017 income statement of Cintas. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CTAS stock valuation model: a) initial revenue growth rate of 11% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.4%, whose default value for CTAS is calculated based on our internal credit rating of Cintas, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cintas.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CTAS stock the variable cost ratio is equal to 84%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CTAS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Cintas.

Corporate tax rate of 27% is the nominal tax rate for Cintas. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CTAS stock is equal to 1.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CTAS are equal to 66.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Cintas operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CTAS is equal to 1.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2303 million for Cintas - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 105 million for Cintas is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cintas at the current share price and the inputted number of shares is $21.4 billion.

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COMPANY NEWS

▶ Cintas Ends Fiscal 2018 on a Strong Note   [11:30AM  Motley Fool]
▶ Cintas: Fiscal 4Q Earnings Snapshot   [Jul-19-18 04:53PM  Associated Press]
▶ Cintas Earnings Preview   [08:27AM  Benzinga]
▶ How Cintas pushed Cincinnati investment pro to lead in Courier stock contest   [Jul-12-18 02:19PM  American City Business Journals]
▶ 3 Stocks That Have Doubled and Still Have Room to Grow   [Jul-10-18 09:56AM  Motley Fool]
▶ 10 Stocks With the Largest Dividends in the World   [Jun-25-18 07:35AM  Motley Fool]
▶ Cintas president, COO exits   [Jun-18-18 06:09AM  American City Business Journals]
▶ 3 High-Growth Stocks That Could Soar   [Jun-17-18 06:16AM  Motley Fool]
▶ 2 Stocks That Turned $8,000 Into $25,000   [Jun-12-18 09:07AM  Motley Fool]
▶ 6 Dividend Aristocrats to Buy as Trump Irks G7   [Jun-11-18 01:33PM  InvestorPlace]
▶ Cintas Joins Fortune 500 List   [May-30-18 09:00AM  PR Newswire]
▶ 3 Growth Stocks for Forward-Looking Investors   [May-05-18 07:15AM  Motley Fool]
▶ 3 Stocks I Just Added to My Portfolio   [Apr-18-18 09:32AM  Motley Fool]
▶ 3 Growth Stocks for Forward-Looking Investors   [Apr-03-18 03:36PM  Motley Fool]
▶ Uniform giant Cintas closing its Prince George's processing plant   [Mar-28-18 02:56PM  American City Business Journals]
▶ Company News For Mar 26, 2018   [Mar-26-18 10:12AM  Zacks]
▶ Cintas Climbs on Tax Cut, Strong Fundamentals   [Mar-22-18 07:06PM  Motley Fool]
▶ Cintas Rallies Late On Uniformly Strong Earnings   [04:33PM  Investor's Business Daily]
▶ Cintas beats Street 3Q forecasts   [04:32PM  Associated Press]
▶ Earnings Outlook For Cintas   [09:27AM  Benzinga]
▶ Trump China Tariffs Due; Nike, Micron Report Earnings: Investing Action Plan   [Mar-21-18 04:12PM  Investor's Business Daily]
▶ When Youve Got to Go This Spring Break, Go Somewhere Clean   [Mar-12-18 01:08PM  Business Wire]
▶ Cintas Corp.'s Farmer family donates $10M to boost cancer care in Cincinnati   [Feb-28-18 11:40AM  American City Business Journals]
▶ When Mother Nature Calls, Cintas Comes to the Rescue   [Feb-13-18 11:56AM  Business Wire]
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