Cintas (WBO:CTAS) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

WBO:CTAS Cintas Corp WBO:CTAS
98 GF Score
Price €172.98
GF Value €184.87
Valuation Fairly Valued
! 2 Warning Signs
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What is Cintas Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Cintas  (WBO:CTAS) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Cintas Cyclically Adjusted PB Ratio Related Terms


Cintas Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Cintas's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Cintas Cyclically Adjusted PB Ratio Chart

Cintas Annual Data
Trend May17 May18 May19 May20 May21 May22 May23 May24 May25 May26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 14.76 15.93 20.11 24.00 16.02

Cintas Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 24.41 21.46 18.91 19.53 16.41

WBO:CTAS vs CPRT, GPN, ARMK: Cyclically Adjusted PB Ratio Comparison

For the Specialty Business Services subindustry, Cintas's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Cintas Cyclically Adjusted PB Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Cintas's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Cintas's Cyclically Adjusted PB Ratio falls into.


WBO:CTAS
98GF Score
Cintas Corp WBO:CTAS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Cintas Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Cintas's Cyclically Adjusted Book per Share for the quarter that ended in May. 2026 is calculated as:

For example, Cintas's adjusted Book Value per Share data for the three months ended in May. 2026 was:

Adj_Book=Book Value per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=11.007/335.1230*335.1230
=11.007

Current CPI (May. 2026) = 335.1230.

Cintas Quarterly Data

Book Value per Share CPI Adj_Book
201608 4.252 240.849 5.916
201611 4.546 241.353 6.312
201702 4.872 243.603 6.702
201705 4.913 244.733 6.728
201708 5.081 245.519 6.935
201711 5.028 246.669 6.831
201802 5.561 248.991 7.485
201805 6.076 251.588 8.093
201808 6.721 252.146 8.933
201811 6.358 252.038 8.454
201902 6.652 252.776 8.819
201905 6.522 256.092 8.535
201908 6.700 256.558 8.752
201911 6.789 257.208 8.846
202002 7.273 258.678 9.422
202005 7.031 256.394 9.190
202008 7.208 259.918 9.294
202011 7.162 260.229 9.223
202102 7.484 263.014 9.536
202105 7.246 269.195 9.021
202108 6.783 273.567 8.309
202111 7.634 277.948 9.204
202202 7.159 283.716 8.456
202205 7.591 292.296 8.703
202208 7.908 296.171 8.948
202211 8.198 297.711 9.228
202302 8.424 300.840 9.384
202305 8.907 304.127 9.815
202308 9.215 307.026 10.058
202311 9.031 307.051 9.857
202402 9.642 310.326 10.412
202405 9.817 314.069 10.475
202408 9.009 314.796 9.591
202411 10.074 315.493 10.701
202502 10.939 319.082 11.489
202505 10.240 321.465 10.675
202508 10.083 323.976 10.430
202511 9.601 324.122 9.927
202602 10.138 326.785 10.397
202605 11.007 335.123 11.007

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Cintas (WBO:CTAS) Overvalued in 2026?

Based on GuruFocus' analysis, Cintas stock appears to be undervalued. The current stock price of €172.98 is trading 6.4% below its estimated GF Value™ of €184.87. GuruFocus considers Cintas to be Fairly Valued.

Key valuation signals for WBO:CTAS:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €184.87 vs. price of €172.98 (6.4% below fair value)
  • GF Score™: 98/100 with 2 warning signs

No single metric tells the full story. See the WBO:CTAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Cintas Business Description

Address 6800 Cintas Boulevard, P.O. Box 625737, Cincinnati, OH, USA, 45262-5737
Cintas has roots dating back to 1929, when the Farmer family cleaned and resold dirty rags to manufacturing plants in Ohio. The firm has expanded its business organically and through acquisitions, and today Cintas acts as a one-stop outsourcing partner for businesses. Cintas will design, manufacture, collect, and clean every employee uniform for a small weekly sum, taking on the upfront capital expense itself. At the same stop, Cintas can also replace soiled or depleted mats, mops, trash liners, towels, first aid supplies, fire extinguishers, and cleaning products. Businesses value an outsourcing partner like Cintas as it simplifies operations and leaves noncore tasks with high regulatory standards in the hands of professionals.
98GF Score

Get the complete analysis for WBO:CTAS

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€172.98
Price
€184.87
GF Value