Products and Services

• Cintas uniform and apparel business unit’s main products are uniforms including shirts, suiting, accessories such as ties, pants, outwear, culinary, headwear, workwear, and scrubs.
• The company also provides custom-tailored apparel, flame resistant clothing, and isolation gowns.
• The business unit also provides services such as clean workwear where the company picks dirty uniforms and delivers cleaned ones as well as uniform rental services.  
• Among the uniforms in the rental program are work shirts, work pants, outwear, women’s garment, chef works, carhartt, cleanroom, scrub, isolation gown, and flame resistant clothing.
• At the start of the rental program, the customer is assigned 11 garments. The company then picks dirty garments every week and replaces them with clean ones.
• Customers are also given an opportunity to build their own uniform based on their preferences and job activities.

Financial Data

• In the 2020, Cintas' uniform rental and facility services accounted for the largest share of the total revenue with $5.6 billion equivalent to 79.7%.
• In 2019, the segment contributed 80.6% of the total revenue or $5.5 billion.

Announcements

• A direct link to a new product announcement can be found here.

• A direct link to a COVID-19-related announcement can be found here.

News Articles

• A direct link to a news article on Cintas acquisition can be found here.
• A direct link to a news article on strategic partnership can be found here.
• A direct link to a news article on divestiture can be found here.
• A direct link to a news article on the uniform and apparel business unit award can be found here.
• A direct link to a news article on a new product can be found here.

Competitors

• Cinta’s main competitors in the uniform and apparel business are Aramark, UniFirst Corporation, Superior Uniform Group, and AmeriPride Services. The companies were identified as competitors because they also focus on the uniform program segment and/or uniform rental services.

Products and Service Offerings

• The business unit offers the following products and services to its customers:

Disinfectant & Sanitizer Spray Services

• This offering is fairly recent and offers businesses with disinfectant spray service for common touchable surfaces and contact points.
• It also provides sanitizer spray service for food contact surfaces that are prone to certain bacteria.

Mat Services

• Cintas also provides rental mat services to its clients with various customizations.
• Its "High-Performance Series" of mats include Photo Mat, Traffic Mat, Xtraction Mat, Active Scraper Mat, and Wellness Mat — with each type having its own advantages in weight support and dirt capture.
• The Standard mat services provided by Cintas include colorful carpets, custom logo mats, non-slip/anti-microbial mats, anti-fatigue mats, mats for restrooms, and mats with eye-catching safety messages.

Restroom Supplies

• Cintas' restroom supply services handle the restroom supply inventory on a custom-tailored schedule to ensure less convenience for the customers.
• The service offering includes restroom dispensers for hand soap/sanitizers, paper towels, toilet papers, toilet seat cleaners, air fresheners, and trash cans — available in a variety of colors.
• The service also provides businesses with products like hand sanitizers, stands, hand soaps, and mats.

Cleaning Chemicals

• Cintas' Signet cleaning chemical products offer businesses with "Green Seal Certified products" for maintenance and cleanliness.
• The offerings include floor cleaner/degreaser, three-compartment sink sanitizer, bio-based floor cleaner, spirit II disinfectant spray, hard surface sanitizer, odor counteractant/fabric fresheners, glass/multi-surface cleaner, neutral disinfectant cleaner, non-acid bathroom cleaner, neutral floor cleaner, pot/pan detergent, drain line maintainer, and foaming degreaser.

Restroom Cleaning Tools

• Cintas' UltraClean® provides businesses with restroom cleaning products that both clean and sanitize restrooms — making businesses less likely to be put down by unhygienic restrooms.
•  Ultraclean products provide businesses with ease of daily maintenance, odorless sanitized surfaces, high-pressure cleaning for removing build-up dirt, soil/bacteria removal, and reduced equipment needs.

Towel Services

• Cintas' towel services eliminate the need for stockpiling and laundering of towels by regular delivery of fresh towels and disposable wipers — customized to businesses' individual cleaning schedule.
• Its towel services include disposable sanitizing wipes, gym towels, bar towels, and industrial towels.

Microfiber Cleaning

• Cintas has partnered with Rubbermaid to provide businesses with microfiber cleaning tools that are clean, safe, and easy to use.
• The service offerings include microfiber flat mops, microfiber tube mops, microfiber cloths, and microfiber dusters.

Parts Cleaner

• Cintas' Safewasher, an automotive parts' washer system, provides businesses and industries with "a non-hazardous, water-based degreasing solution" using the process of bioremediation.
• The process turns "certain harmful contaminants into non-toxic substances."

Mop Services

• Cintas' mop services provide clean and sanitized mops to businesses each week with its mop rental program.
• The mop services included in this offering are microfiber tube mops, microfiber flat mops, heavy-dust mops, heavy-duty wet mops, dust mops, pulse mops, and dual-chamber mop buckets.

Coil Cleaning/Tile and Carpet Cleaning

• Cintas has outsourced its deep cleaning services (coil cleaning and tile/carpet cleaning) to Coit and Stanley Steemer.

Financial Data

• Cintas did not publish any individual financial data for its 'Facility Services' business unit. The 'Facility Services' business unit is reported along with 'Uniform Rental' as a single operational unit in the annual report.
• According to the 2020 annual report by Cintas, the 'Uniform Rental and Facility Services' unit earned a total revenue of $5,643,494,000 (~$5.643 billion).
• The 'Uniform Rental and Facility Services' unit contributed to 79.7% of total company revenue in 2020 — down by 0.9% from the previous year.

Major Announcements and Press

• In October 2020, the company announced its quarterly dividend and change to its dividend policy.
• In September 2020, the company announced its first-quarter fiscal 2021 results.
• In July 2020, the company announced its fourth-quarter fiscal 2020 results and full-year results.
• In June 2020, the company donated 100,000 face masks to Matthew 25 Ministries.
• In March 2020, the company announced its third-quarter fiscal 2020 results.
• Also in March, Cintas released its consumer survey results that revealed that "the majority of Americans value workplace restroom care."
• In December 2019, the company announced its second-quarter fiscal 2020 results.

News Articles

•  July 14, 2020: Cintas announced its plans to close its Menomonee Falls facility.
•  July 8, 2020: Cintas announced its plans to close its Milwaukee-area facility — acquired as part of a $2.2 billion deal in 2016.
•  September 3, 2020: Cintas Corporation's direct sale and rental distribution centers in Chicago were awarded "Gold level under the TRUE (Total Resource Use and Efficiency) certification system for zero waste."
•  September 8, 2020: "Cintas Survey Shows Majority of Americans Value COVID-19 Precautions"
•  June 29, 2020: "Cintas Launches Annual America’s Best Restroom® Nationwide Contest"
•  July 29, 2020: Cintas sold its linen business to Westwego based Loop Linen Service.
•  May 4, 2020: "Cintas' New Services And Extensive Product Lines Help Businesses Get Back To Work #ReadyTogether"
•  November 9, 2020: "Cintas Earns 2021 Military Friendly® and Military Spouse Friendly® Employer Designations"

Key Competitors in US Market Space

•  Cintas' website or annual reports did not mention any US competitor in relevant market space by name.
• After cross-referencing third-party databases, the following competitors of Cintas' Facility Services business unit in the US market were found:
•  Aramark 
•  G&K Services 
•  Unifirst 
•  Ecolab 

Research Strategy

Cintas Flame Resistant Clothing

• Cintas is one of the biggest companies that offer fire resistant gear and clothing for rental.
• They specifically offer shirts, pants, jackets, coveralls, enhanced-visibility and high-visibility fire-resistant gear, lab coats, fire-resistant masks, and other fire-resistant PPE equipment.
• Over half a million people used their fire resistant clothing rental services in 2019.
• Unfortunately Cintas does not break down its revenue by the different type of products.
• They did, however note that they generated over $5.6 billion from their uniform rental and facility services in 2020, making roughly 79% of their overall revenue.
• Some of their biggest competitors include National Safety Apparel, Carhatt, Lakeland Industries, and 3M Companies. 

Cintas Flame Resistant Clothing News

• On May 4, the company noted that it will support the reopening of the economy by offering new fire-resistant protection masks. 
• On May 12, Cintas pledged that it has taken all the necessary steps to provide clean garments for rental.
• On June 23, the company announced that it has donated 100,000 fire-resistant protection masks to "Matthew 25 Ministries, an international humanitarian aid and disaster relief organization headquartered in Cincinnati, OH."
• Unfortunately, despite searching through numerous media sites like Business Insider, The New York Times, and the WSJ, we were not able to find any news that pertained to the fire resistant clothing segment of Cintas.
• We were only able to find news related to Cintas' overall operations such as their report that their short interest by the end of September 2020 dropped by over 14% compared to two weeks prior.

History of Cintas Corp.

•  Cintas Corporation is an American public company founded in Cincinnati, Ohio in 1968, by Richard Farmer.
• The company is registered in the stock market as NASDAQ:CTAS.
• They offer products to companies like first aid, safety, uniforms, restroom supplies, floor care, fire extinguishers, testing, and safety and compliance training services.

Products/Services Offered by the Training & Compliance Business Unit

•  Cintas Training and Compliance business unit offers training in different formats like instructor-led training, online training, through DVD, and training support materials, online safety management tools, on-site hearing testing to meet OSHA standards, and training courses.
• The training courses include CPR, AED, first aid, fall protection, Hazwoper, confined spaces, GHS, Hazcom, hazardous materials, OSHA recordkeeping, emergency preparedness, hearing protection, respiratory protection, forklift, fire extinguisher, workplace violence preparedness, etc.

Financial Data

• Cintas' annual revenue by the end of the fiscal year of May 2029 was $6.89 billion, with annual growth of 6.5%.
• Its quarterly revenue was $1.79 billion in 2019.

Major Announcements from the Business Unit in the Past Year

• In October 2019, Cintas announced the addition of its Fire Extinguisher course as part of the Training and Compliance business unit offering.
• In May 2020, Cintas presented its #ReadyTogether program, adding products and services designed to help companies prepare their employees to go back to work after the pandemic.
• Also, in May 2020, Cintas presented its official COVID updates and the confirmation that the company continued operating as an essential business.

Key competitors in the US

•  Ecolab Partner Training was designed to provide training and safety courses for companies.
•  Sysco Services also provides training and safety education for US companies in the food industry.
• Aramark delivers similar products, like uniforms, and training services.
•  Unifirst also offers online safety and compliance training services to companies.

Research Strategy

News

Competitors

Products/Services

• The products and services under Cintas' Promotional Products business units span various categories, including apparel, bags, drinkware, office supplies, pens, items for tradeshows and events, automotive, computer accessories, eco-friendly products, calendars, healthcare, sport and outdoor equipment, stress balls, watches, key tags, tools and hardware, etc.
• Using the product search function, one can find products such as adapters, adhesives, air fresheners, appliances, aquariums, beverages, various boards, bodysuits, camcorders, candy, candles, decorations, diving equipment, drones, essential oils, exercise equipment, first aid kits, food, various frames, garden supplies, microphones, microscopes, perfume, pepper spray, record players, and remote controls, among many other items.
• The Promotional Products section also offers fulfillment services.
• The Promotional Products segment provides themed offerings. These include themes such as 3D, American, anniversary, automotive, aviation, amusement, different decades (e.g., 50s, 60s, 70s, 80s, and 90s), banking, birthday, bowling, Canadian, decoration, Earth Day, Easter, Fall, fishing, golf, gymnastics, holiday, medieval, military, patriotic, religion, sports, etc.
• Many of the products available through the Promotional Products segment can be found in what Cintas refers to as The Brand Book.

Financial Data

• In the year 2018, the Cintas Corporation generated approximately $6.477 billion in revenue, according to its 2020 annual report. Additionally, the company states that "revenue denominated in currencies other than the U.S. dollar represented less than 10% of our consolidated revenue. "
• It is reasonable to assume that at least 90% (100%-10%) of the company's revenue comes from the United States or North America. Therefore, the Cintas Corporation generates $5.829 billion of its revenue in that specific region.
• As revealed in a news piece published by ASI Central, the promotional products segment of the Cintas Corporation brought in $173.2 million in 2018. Furthermore, it was the 14th largest distributor within the industry that year, according to Counselor Promogram.
• Hence, the promotional products segment only accounts for about 2.97% ((173.2 million/5.829 billion) *100) of the Cintas Corporation's annual revenue.

Recent News Articles

• Here is a link to a February 7, 2020, announcement from ASI Central revealing Cintas Promotional Products division's acquisition of the Doritex Corporation, which offers custom embroidery and branded corporate image apparel.
• Here is a link to a July 22, 2020, news report from ASI Central listing the "Top 40 Distributors 2020" in the promotional products industry, which includes Centas at number 13.

Key Competitors

• Promo Marketing Magazine compiles an annual list of the top distributors of promotional products in the United States by total promo sales in the country. For its 2020 list, the distributors included Overture Promotions, Proforma, HALO Branded Solutions, Leaderpromos, and Brand Makers.
• These five distributors could serve as direct competitors to Cintas' Promotional Products business segment in the United States. Each of the listed competitors are experiencing significant sales increases in the region. Compared to the previous year, the sales growth reported in 2020 for the competitors goes as follows: Overture Promotions (32.25%), Proforma (32.25%), HALO Branded Solutions (30.08%), Leaderpromos (25.88%), Brand Makers (23.31%).
• Additionally, three of the distributors listed above were ranked in the "Top 40 Distributors 2020" for the promotional products industry, namely Overture Promotions, Proforma, and HALO Branded Solutions.
• The complete "2020 Top Promotional Products Distributors List" from Promo Marketing can be downloaded here.

Research Strategy:

Products / Services offering

• Cintas' "First Aid & Safety" unit provides workplace clients with a whole range of solutions including; first aid supplies, safety and PPE supplies, AED and emergencies, training and compliance solutions, eyewash stations, and office water cooler products.
• Some of the products offered under first aid supplies include; first aid kits, first aid cabinets, thermometers, emergency kits, antiseptics, and ointments, etc.
• The safety and PPE segment of Cintas' first aid and safety unit offers personal protective equipment to help businesses keep employees safe and remain compliant. Some of the products offered include safety cabinets, gloves, safety glasses, hard hats, earplugs, respirators, disposable clothing, gas detectors, spill kits, etc.
• The AED and emergency offering focuses on workplace emergencies that are related to sudden cardiac arrest. Besides offering AED (Automated External Defibrillators) products which are critical devices in the event of a cardiac emergency, Cintas' also services AEDs and keeps them up to date. Some of the products offered by the company include; Zoll AED 3, Zoll AED Plus, Phillips Heartstart AED, AED supplies, etc.
• Cintas' also offers on-site and online safety training programs and courses. Additionally, Cintas' also provides DIY training materials and online access to training materials.
• In addition to providing plumbed eyewash units and eye and skin wash flushing stations, Cintas' also provides eyewash station cleaning and servicing.
• Cintas' also offers workplace hydration solutions including the new WaterBreak cleaner systems.

Financial data

• According to the September report, the first aid and safety business unit of Cintas' managed to generate revenues of $709 million in the 2020 fiscal year which ended May 31st. The report shows increasing revenues from 2018 when the company's first aid and safety segment generated revenues of $565 million. In 2019, the segment generated $619 million in revenues.
• Here are Cintas' overall earnings in 2018, 2019, and 2020; $6.477 billion, $6.892 billion, and $7.085 billion respectively.

• The following represent the first aid and safety revenue percentages in relation to the overall revenues and their respective years; 8.7% in 2018, 9.0% in 2019, and 10.0% in 2020.

Major announcements

• A direct link to a Covid-19 related announcement can be found here.
•  Here is a direct link to an announcement of Cintas' new services and product lines.

•  Here is a direct link to an announcement of the new sanitizer dispenser line; "Germ-X" by Cintas'.

Recent news articles.

•  Here is a direct link to a news article on the impact of COVID-19 on Cintas' First Aid and Safety segment sales.
•  Here is a direct link to a news article on Cintas' new product and service lines.

•  Here is a direct link to a news article on Cintas' donations in relation to Covid-19.

•  Here is a direct link to a news article on Cintas' support for the American Diabetes Association.
•  Here is a direct link to a news article on the award of Cintas' first aid and safety business unit.
•  Here is a direct link to a news article on the launch of a new product.

Key competitors in the US market.

• According to recent reports by Prime Feed, Market Watch, Business Wire and Research and Markets, key competitors in the First aid kits and safety market in the US includes; 3M, Acme United Corp, Certified Safety Manufacturing, Cramer Products Inc, and Johnson & Johnson.

Products And Services

•  Extinguisher Inspections 
•  Fire Sprinkler Systems  
•  Fire Extinguisher Training  
•  Fire Alarm Monitoring  
•  Fire Alarm Panel  
•  Emergency & Exit Lights  
•  Kitchen Suppression  
•  Hazard Suppression.  

Financial Data

• In 2020, Cintas Fire Protection Segment accounted for 6.0% or $422.69 million of the total revenue.
• In 2019, the segment accounted for 5.9% or $405.47 million of the total revenue.

Major Announcements

• Cintas Fire Protection Segment has not undergone any M&A activity in the past 12 months. This was inferred after searching through the segment's press releases, media sites and company-wide news.

Recent News Articles

• During the National Fire Protection Week in 2019, Cintas Corporation helped raise awareness of the importance of knowing the basics about fire extinguishers, where they are located for quick access and how to use them if a fire emergency occurs.

• In November 2019, Spruce Point Capital Management published a short report on company Cintas, accusing the company fraud.
• Cintas was investigated for fraud by Block & Leviton LLP for violations of federal securities laws after it was found that the company was having workers conduct fire and safety inspections without proper licenses or permits.

Key Competitors

• In the Fire Protection Service market, Cintas compete with national, regional and local providers.
• Key players in the U.S. Fire Protection System markets are Honeywell International Inc., United Technologies Corporation, Gentex Corporation, and Amerex Corporation.