Cintas Corp
CTAS: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$177.00 | Vzlm | Kbzpctzxx |
Cintas Earnings: Fiscal Third-Quarter Results Solid; Guidance Favorable
Wide-moat Cintas reported solid fiscal 2024 third-quarter results, with growth in all three business segments. We will be incorporating results into our model, but we expect to raise our fair value estimate by 5%-9% due to lifting our top-line and margin forecasts and our significant confidence in the firm’s execution. However, we still think the stock is overvalued relative to our long-term free cash flow forecasts.