v3.25.4
Earnings Per Share
 6 Months Ended
Nov. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share 
Cintas uses the two-class method to calculate basic and diluted earnings per share as a result of outstanding participating securities in the form of restricted stock awards. The following tables set forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Cintas’ common shares:
Three Months EndedSix Months Ended
Basic Earnings per Share
(In thousands except per share data)
November 30, 2025November 30, 2024November 30, 2025November 30, 2024
Net income$495,343 $448,495 $986,483 $900,528 
Less: net income allocated to participating securities1,606 1,585 3,186 3,182 
Net income available to common shareholders$493,737 $446,910 $983,297 $897,346 
Basic weighted average common shares outstanding
401,484 403,581 402,391 403,489 
Basic earnings per share$1.23 $1.11 $2.44 $2.22 
Three Months EndedSix Months Ended
Diluted Earnings per Share
(In thousands except per share data)
November 30, 2025November 30, 2024November 30, 2025November 30, 2024
Net income$495,343 $448,495 $986,483 $900,528 
Less: net income allocated to participating securities1,606 1,585 3,186 3,182 
Net income available to common shareholders$493,737 $446,910 $983,297 $897,346 
Basic weighted average common shares outstanding
401,484 403,581 402,391 403,489 
Effect of dilutive securities – employee stock options
4,949 7,086 5,483 7,124 
Diluted weighted average common shares outstanding
406,433 410,667 407,874 410,613 
Diluted earnings per share$1.21 $1.09 $2.41 $2.19 

For the three months ended November 30, 2025 and 2024, options granted to purchase 2.1 million and 1.2 million shares of Cintas common stock, respectively, were excluded from the computation of diluted earnings per share. For the six months ended November 30, 2025 and 2024, options granted to purchase 1.8 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 stock (anti-dilutive).

On July 26, 2022, Cintas announced that the Board of Directors (the Board) authorized a $1.0 billion share buyback program, which was completed during the second quarter of fiscal 2026. From the inception of the July 26, 2022 share buyback program through September 2025, Cintas purchased a total of 5.4 million shares of Cintas common stock at as average price of $185.01 per share for a total purchase price of $1.0 billion. On July 23, 2024, Cintas announced that the Board authorized a share buyback program for $1.0 billion. On October 28, 2025, Cintas announced that the Board authorized a new share buyback program, also for $1.0 billion. Neither of the outstanding share buyback programs have an expiration date.
The following table summarizes the share buyback activity by program and period:

Three Months EndedSix Months Ended
November 30, 2025November 30, 2025
Buyback Activity
(In thousands except per share data)
SharesAvg. Price
per Share		Purchase
Price		SharesAvg. Price
per Share		Purchase
Price
July 26, 2022569 $199.39 $113,550 1,272 $207.13 $263,564 
July 23, 20242,668 189.37 505,209 2,668 189.37 505,209 
October 28, 2025— — — — — — 
3,237 $191.13 $618,759 3,940 $195.10 $768,773 
Shares acquired for taxes due (1)
88 $191.35 $16,811 608 $218.46 $132,894 
Total repurchase of Cintas common stock$635,570 $901,667 
Three Months EndedSix Months Ended
November 30, 2024November 30, 2024
Buyback Activity
(In thousands except per share data)
SharesAvg. Price
per Share		Purchase
Price		SharesAvg. Price
per Share		Purchase
Price
July 26, 2022— $— $— 2,732 $173.40 $473,617 
July 23, 2024— — — — — — 
— $— $— 2,732 $173.40 $473,617 
Shares acquired for taxes due (1)
174 $211.44 $36,716 918 $193.79 $177,901 
Total repurchase of Cintas common stock$36,716 $651,518 
(1) Shares of Cintas common stock acquired for employee payroll taxes due on options exercised and vested restricted stock awards.

In addition to the share buyback activity presented above, Cintas acquired shares of Cintas common stock, via non-cash transactions, in connection with net-share settlements of option exercises. The following table summarizes Cintas' non-cash share buyback activity:
Three Months EndedSix Months Ended
November 30, 2025November 30, 2025

(In thousands except per share data)
SharesAvg. Price
per Share		Non-Cash
Value		SharesAvg. Price
per Share		Non-Cash
Value
Non-cash transaction activity90 $190.66 $17,070 394 $215.11 $84,651 
Three Months EndedSix Months Ended
November 30, 2024November 30, 2024
SharesAvg. Price
per Share		Non-Cash
Value		SharesAvg. Price
per Share		Non-Cash
Value
Non-cash transaction activity122 $210.76 $25,829 529 $193.79 $102,653 
In the period subsequent to November 30, 2025, through January 7, 2026, we purchased less than 0.1 million shares of Cintas common stock at an average price of $183.00 per share, for a total purchase price of $3.7 million. From the inception of the July 23, 2024 share buyback program through January 7, 2026, Cintas has purchased 2.7 million shares of Cintas common stock in the aggregate, at an average price of $189.32 per share, for a total purchase price of $508.9 million. Cintas has made no purchases under the October 28, 2025 share buyback program.