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Cintas - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Cintas (ISIN: US1729081059, WKN: 880205) Kursdatum: 27.07.2017 Kurs: 135,820 USD
Beschreibung Daten
Symbol CTAS
Marktkapitalisierung 14.934.223.872,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.S&P 500
Sektor Konsumgüter
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2000-03-08 - 3:2 | 1997-11-19 - 2:1 |
Internet
Letztes Bilanz Update 29.07.2016

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 27.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
78,19 32,05 0,77% 16,64 44,89 21,87 3.952.944,39 8,11

Firmenbeschreibung

Quarterly Financial Data (Unaudited)The following is a summary of the results of operation for each of the quarters within the fiscal years ended May 31, 2016 and 2015:May 31, 2016 (in thousands)FirstQuarter SecondQuarter ThirdQuarter FourthQuarter        Revenue$1,198,890 $1,219,080 $1,216,083 $1,271,405Gross margin$524,144 $527,400 $524,608 $553,718Net income, continuing operations$106,198 $115,453 $117,279 $118,011Basic earnings per share, continuing operations$0.94 $1.05 $1.07 $1.09Diluted earnings per share, continuing operations$0.93 $1.03 $1.05 $1.08Weighted average number of shares outstanding110,597 108,301 107,843 106,136May 31, 2015 (in thousands) (1) (2)FirstQuarter SecondQuarter ThirdQuarter FourthQuarter        Revenue$1,102,077 $1,123,379 $1,108,847 $1,142,583Gross margin$477,946 $481,424 $475,307 $486,660Net income, continuing operations$105,905 $103,701 $100,331 $100,584Basic earnings per share, continuing operations$0.90 $0.88 $0.86 $0.87Diluted earnings per share, continuing operations$0.89 $0.86 $0.85 $0.86Weighted average number of shares outstanding116,659 117,115 116,178 113,666(1) The figures for fiscal 2015 reflect the change in classification of Shred-it to discontinued operations within the Consolidated Statements of Income. See Note 16 entitled Discontinued Operations for additional information.(2) During the fiscal 2015 first quarter, Cintas recognized a gain on the sale of stock in an equity method investment in the net amount of $13.6 million.

Firmenstrategie

The consolidated financial statements include the accounts of Cintas controlled majority-owned subsidiaries and any entities over which Cintas has control. Intercompany balances and transactions have been eliminated as appropriate.

RevenueRecognitionPolicyTextBlock

Rental revenue, which is recorded in the Uniform Rental and Facility Services reportable operating segment, is recognized when services are performed. Other revenue, which is recorded in the First Aid and Safety Services reportable operating segment and All Other, is recognized when either services are performed or when products are shipped and the title and risks of ownership pass to the customer.

SegmentReportingDisclosureTextBlock

Operating Segment Information

GAAP requires companies to evaluate their reportable operating segments periodically and when certain events occur. As a result of a periodic evaluation, effective June 1, 2015, Cintas realigned its organizational structure and updated its reportable operating segments in light of certain changes in its business including the acquisition of ZEE in the first quarter of fiscal 2016. Cintas’ updated reportable operating segments are Uniform Rental and Facility Services and First Aid and Safety Services. The Uniform Rental and Facility Services reportable operating segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels and other ancillary items. In addition to these rental items, restroom cleaning services and supplies, carpet and tile cleaning services and the sale of items from our catalogs to our customers on route are included within this reportable operating segment. The First Aid and Safety Services reportable operating segment consists of first aid and safety products and services. The remainder of Cintas’ business, which consists primarily of Fire Protection Services and its Direct Sale business, is included in All Other. All prior fiscal year results presented in the table below have been recast to reflect these new operating segments.

Prior to June 1, 2015, Cintas classified its businesses into three operating segments based on the types of products and services provided. The Rental Uniforms and Ancillary Products operating segment consisted of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels and other ancillary items.  In addition to these rental items, restroom cleaning services and supplies and carpet and tile cleaning services were also provided within this operating segment. The Uniform Direct Sales operating segment consisted of the direct sale of uniforms and related items. The First Aid, Safety and Fire Protection Services operating segment consisted of first aid, safety and fire protection products and services.

Cintas evaluates the performance of each operating segment based on several factors of which the primary financial measures are operating segment revenue and income before income taxes. The accounting policies of the operating segments are the same as those described in Note 1 entitled Significant Accounting Policies. Information related to the operations of Cintas' operating segments is set forth below:

EarningsPerSharePolicyTextBlock

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share from continuing operations using the two-class method for amounts attributable to Cintas' common shares:

(In thousands)
Uniform Rental and Facility Services
 
First Aid and Safety Services
 
All Other
 
Corporate(1)
 
Total
May 31, 2016
 
 
 
 
 
 
 
 
 
Revenue
$
3,777,801

 
$
461,783

 
$
665,874

 
$

 
$
4,905,458

Gross margin
$
1,671,008

 
$
197,010

 
$
261,852

 
$

 
$
2,129,870

Selling and administrative expenses
998,069

 
147,503

 
202,550

 

 
1,348,122

Interest expense, net

 

 

 
63,626

 
63,626

Income before income taxes
$
672,939

 
$
49,507

 
$
59,302

 
$
(63,626
)
 
$
718,122

Depreciation and amortization
$
130,822

 
$
16,021

 
$
18,436

 
$

 
$
165,279

Capital expenditures
$
237,884

 
$
22,364

 
$
15,137

 
$

 
$
275,385

Total assets
$
3,114,159

 
$
421,789

 
$
358,683

 
$
209,762

 
$
4,104,393

 
 
 
 
 
 
 
 
 
 
May 31, 2015
 
 
 
 
 
 
 
 
 
Revenue
$
3,539,843

 
$
326,593

 
$
610,450

 
$

 
$
4,476,886

Gross margin
$
1,532,211

 
$
152,339

 
$
236,787

 
$

 
$
1,921,337
(In thousands except per share data)
2016
 
2015
 
2014
 
 
 
 
 
 
Basic Earnings per Share from Continuing Operations
 
 
 
 
 
Income from continuing operations
$
456,941

 
$
410,521

 
$
337,772

Less: income from continuing operations allocated to
    participating securities
7,405

 
3,900

 
3,082

Income from continuing operations available to common shareholders
$
449,536

 
$
406,621

 
$
334,690

Basic weighted average common shares outstanding
108,221

 
115,900

 
120,377

 
 
 
 
 
 
Basic earnings per share from continuing operations
$
4.15

 
$
3.51

 
$
2.78


(In thousands except per share data)
2016
 
2015
 
2014
 
 
 
 
 
 
Diluted Earnings per Share from Continuing Operations
 
 
 
 
 
Income from continuing operations
$
456,941

 
$
410,521

 
$
337,772

Less: income from continuing operations allocated to
   participating securities
7,405

 
3,900

 
3,082

Income from continuing operations available to common shareholders
$
449,536

 
$
406,621

 
$
334,690

Basic weighted average common shares outstanding
108,221

 
115,900

 
120,377

Effect of dilutive securities – employee stock options
1,735

 
1,643

 
1,263

Diluted weighted average common shares outstanding
109,956

 
117,543

 
121,640

 
 
 
 
 
 
Diluted earnings per share from continuing operations
$
4.09

 
$
3.46

 
$
2.75


Basic and diluted earnings per share from discontinued operations was calculated using the two-class method. Basic earnings per share from discontinued operations were $2.15, $0.17 and $0.30 for the fiscal years ended May 31, 2016, 2015 and 2014, respectively. Diluted earnings per share from discontinued operations were $2.12, $0.17 and $0.30 for the fiscal years ended May 31, 2016, 2015 and 2014, respectively.

For the fiscal years ended May 31, 2016, 2015 and 2014, options granted to purchase 0.5 million, 0.6 million and 0.7 million shares of Cintas common stock, respectively, were excluded from the computation of diluted earnings per share. The exercise prices of these options were greater than the average market price of the common shares (anti-dilutive).

On July 30, 2013, Cintas announced that the Board of Directors authorized a $500.0 million share buyback program. This program was completed in February 2015. On January 13, 2015, we announced that the Board of Directors authorized a $500.0 million share buyback program. This program was completed in September 2015. On August 4, 2015, we announced that the Board of Directors authorized a new $500.0 million share buyback program. The following table summarizes the buyback activity by program and fiscal period:

(In thousands except per share data)
2016
 
2015
Buyback Program
Shares
 
Avg. Price per Share
 
Purchase Price
 
Shares
 
Avg. Price per Share
 
Purchase Price
 
 
 
 
 
 
 
 
 
 
 
 
July 30, 2013

 
$