Cintas (WBO:CTAS) LT-Debt-to-Total-Asset : 0.29 (As of Feb. 2024)

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What is Cintas LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Cintas's long-term debt to total assests ratio for the quarter that ended in Feb. 2024 was 0.29.

Cintas's long-term debt to total assets ratio declined from Feb. 2023 (0.31) to Feb. 2024 (0.29). It may suggest that Cintas is progressively becoming less dependent on debt to grow their business.

Cintas LT-Debt-to-Total-Asset Historical Data

The historical data trend for Cintas's LT-Debt-to-Total-Asset 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.

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Cintas LT-Debt-to-Total-Asset Chart

Cintas Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

LT-Debt-to-Total-Asset

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0.34

0.35

0.22

0.32

0.31

Cintas Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.31	0.31	0.30	0.30	0.29

Cintas LT-Debt-to-Total-Asset Calculation

Cintas's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in May. 2023 is calculated as

LT Debt to Total Assets (A: May. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: May. 2023 )	/	Total Assets (A: May. 2023 )
	=	2414.708	/	7862.648
	=	0.31

Cintas's Long-Term Debt to Total Asset Ratio for the quarter that ended in Feb. 2024 is calculated as

LT Debt to Total Assets (Q: Feb. 2024 )	=	Long-Term Debt & Capital Lease Obligation (Q: Feb. 2024 )	/	Total Assets (Q: Feb. 2024 )
	=	2429.637	/	8323.417
	=	0.29

Cintas (WBO:CTAS) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Cintas LT-Debt-to-Total-Asset Related Terms

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Cintas (WBO:CTAS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Cintas Corp (WBO:CTAS) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

CTAS:USA CTAS:Mexico CIT:Germany

Address

6800 Cintas Boulevard, P.O. Box 625737, Cincinnati, OH, USA, 45262-5737

Website

https://www.cintas.com

Cintas is positioned as a one-stop shop that rents/sells uniforms and ancillary products and services, such as mops, first aid kits, and fire inspections. In its core uniform and facility services unit (a majority of sales), Cintas provides uniform rental programs for items including office attire, custom-tailored apparel, flame-resistant clothing, lab coats, and other profession-specific clothing. Facilities products generally include the rental and sale of entrance mats, mops, shop towels, hand sanitizers, and restroom supplies. Cintas' remaining businesses include first aid and safety services, fire protection services, and uniform direct sales.