Discounted Cash Flow

Cintas Corp.

CTAS · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $4.9b $693.5m $190.5m 14.1% $6.30
2017 $5.3b (8.5%) $480.7m (-30.7%) $490.6m (157.6%) 9.0% (-36.1%) $4.49 (-28.7%)
2018 $6.5b (21.7%) $842.6m (75.3%) $692.5m (41.2%) 13.0% (44.1%) $7.78 (73.3%)
2019 $6.9b (6.4%) $885.0m (5.0%) $791.1m (14.3%) 12.8% (-1.3%) $8.25 (6.0%)
2020 $7.1b (2.8%) $876.0m (-1.0%) $1.1b (34.1%) 12.4% (-3.7%) $8.36 (1.3%)
2021 $7.1b (0.4%) $1.1b (26.8%) $1.2b (14.7%) 15.6% (26.3%) $10.52 (25.8%)
2022 $7.9b (10.4%) $1.2b (11.2%) $1.3b (6.5%) 15.7% (0.8%) $11.92 (13.3%)
2023 $8.8b (12.2%) $1.3b (9.1%) $1.3b (-2.3%) 15.3% (-2.8%) $13.21 (10.8%)
2024 $9.6b (8.9%) $1.6b (16.6%) $1.7b (31.9%) 16.4% (7.1%) $15.40 (16.6%)
2025 $10.3b (7.7%) $1.8b (15.3%) $1.8b (5.2%) 17.5% (7.0%) $4.48 (-70.9%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model