Cintas (MEX:CTAS) Beneish M-Score: -2.52 (As of Jun. 25, 2026)


MEX:CTAS Cintas Corp MEX:CTAS
85 GF Score
Price MXN2,853.00
GF Value MXN3,227.82
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Cintas Beneish M-Score?

Cintas MEX:CTAS 85 Beneish M-Score is -2.52 as of Jun. 25, 2026. GuruFocus rates MEX:CTAS with a GF Score™ of 85/100 and a GF Value™ of MXN3,227.82 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,020 Business Services companies, Cintas ranks worse than 52.94% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.52 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Cintas's Beneish M-Score or its related term are showing as below:

MEX:CTAS' s Beneish M-Score Range Over the Past 10 Years
Min: -2.77   Med: -2.55   Max: -2.06
Current: -2.52

During the past 13 years, the highest Beneish M-Score of Cintas was -2.06. The lowest was -2.77. And the median was -2.55.


Cintas Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cintas's Beneish M-Score 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 Beneish M-Score Chart

Cintas Annual Data
Trend May16 May17 May18 May19 May20 May21 May22 May23 May24 May25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.58 -2.56 -2.51 -2.68 -2.54

Cintas Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
Beneish M-Score 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 -2.62 -2.54 -2.51 -2.58 -2.52

MEX:CTAS vs CPRT, GPN, ULS: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Cintas's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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 Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Cintas's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cintas's Beneish M-Score falls into.


MEX:CTAS
85GF Score
Cintas Corp MEX:CTAS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Cintas Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Cintas for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.8973+0.528 * 0.9922+0.404 * 0.9832+0.892 * 1.0316+0.115 * 0.947
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0094+4.679 * -0.028327-0.327 * 1.0112
=-2.70

* 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.

This Year (Feb26) TTM:Last Year (Feb25) TTM:
Total Receivables was MXN26,571 Mil.
Revenue was 48931.655 + 51296.467 + 51265.116 + 51832.767 = MXN203,326 Mil.
Gross Profit was 24943.426 + 25877.035 + 25774.011 + 25764.109 = MXN102,359 Mil.
Total Current Assets was MXN62,045 Mil.
Total Assets was MXN176,232 Mil.
Property, Plant and Equipment(Net PPE) was MXN33,962 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN9,384 Mil.
Selling, General, & Admin. Expense(SGA) was MXN55,720 Mil.
Total Current Liabilities was MXN31,288 Mil.
Long-Term Debt & Capital Lease Obligation was MXN45,369 Mil.
Net Income was 8653.333 + 9074.792 + 9263.142 + 8709.662 = MXN35,701 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = MXN0 Mil.
Cash Flow from Operations was 10702.183 + 9732.122 + 7817.315 + 12441.448 = MXN40,693 Mil.
Total Receivables was MXN28,705 Mil.
Revenue was 53554.032 + 52211.046 + 49345.077 + 41991.069 = MXN197,101 Mil.
Gross Profit was 27080.002 + 26020.158 + 24698.921 + 20655.34 = MXN98,454 Mil.
Total Current Assets was MXN68,584 Mil.
Total Assets was MXN197,272 Mil.
Property, Plant and Equipment(Net PPE) was MXN37,352 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN9,633 Mil.
Selling, General, & Admin. Expense(SGA) was MXN53,512 Mil.
Total Current Liabilities was MXN39,843 Mil.
Long-Term Debt & Capital Lease Obligation was MXN45,015 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(26571.075 / 203326.005) / (28704.505 / 197101.224)
=0.130682 / 0.145633
=0.8973

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(98454.421 / 197101.224) / (102358.581 / 203326.005)
=0.499512 / 0.503421
=0.9922

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (62045.046 + 33961.872) / 176231.839) / (1 - (68584.146 + 37352.39) / 197272.411)
=0.455224 / 0.462994
=0.9832

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=203326.005 / 197101.224
=1.0316

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(9633.111 / (9633.111 + 37352.39)) / (9383.96 / (9383.96 + 33961.872))
=0.205023 / 0.21649
=0.947

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(55720.067 / 203326.005) / (53511.542 / 197101.224)
=0.274043 / 0.271493
=1.0094

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((45369.088 + 31288.324) / 176231.839) / ((45015.096 + 39842.798) / 197272.411)
=0.43498 / 0.430156
=1.0112

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(35700.929 - 0 - 40693.068) / 176231.839
=-0.028327

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Cintas has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.52 mean?
Cintas (MEX:CTAS) has a Beneish M-Score of -2.52 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cintas and its competitors. According to the industry distribution chart, Cintas ranks #540 out of 1020 companies in the Business Services industry, placing it in the top 52.9%.
Is Cintas' Beneish M-Score too high?
Cintas' current Beneish M-Score is -2.52. Based on the distribution chart, Cintas ranks #540 out of 1020 companies in the Business Services industry, which is below the industry midpoint. Overall, Cintas has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Cintas' Beneish M-Score compare to CPRT and GPN?
According to the Business Services industry distribution chart, Cintas ranks #540 out of 1020 companies for Beneish M-Score. This places Cintas in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Business Services company?
A good Beneish M-Score depends on the Business Services industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cintas and its competitors. Cintas's current Beneish M-Score is -2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cintas stock overvalued right now?
Based on GuruFocus' analysis, Cintas (MEX:CTAS) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN3,227.82, compared to a current price of MXN2,853.00 — trading 11.6% below its estimated fair value. The current Beneish M-Score is -2.52. Cintas' overall GF Score™ is 85/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Cintas (MEX:CTAS), the current Beneish M-Score is -2.52 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Cintas (MEX:CTAS) Overvalued in 2026?

Based on GuruFocus' analysis, Cintas stock appears to be undervalued. The current stock price of MXN2,853.00 is trading 11.6% below its estimated GF Value™ of MXN3,227.82. GuruFocus considers Cintas to be Modestly Undervalued.

Key valuation signals for MEX:CTAS:

  • Beneish M-Score: -2.52
  • GF Value™: MXN3,227.82 vs. price of MXN2,853.00 (11.6% below fair value)
  • GF Score™: 85/100 with 1 warning sign

No single metric tells the full story. See the MEX: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.
85GF Score

Get the complete analysis for MEX:CTAS

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN2,853.00
Price
MXN3,227.82
GF Value