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Side-by-side financial comparison of Cintas (CTAS) and Norwegian Cruise Line Holdings (NCLH). Click either name above to swap in a different company.
Cintas is the larger business by last-quarter revenue ($2.8B vs $2.2B, roughly 1.2× Norwegian Cruise Line Holdings). Cintas runs the higher net margin — 17.7% vs 0.6%, a 17.1% gap on every dollar of revenue. On growth, Cintas posted the faster year-over-year revenue change (9.3% vs 6.4%). Cintas produced more free cash flow last quarter ($425.0M vs $21.5M). Over the past eight quarters, Cintas's revenue compounded faster (7.9% CAGR vs 1.2%).
Cintas Corporation is an American corporation headquartered in Mason, Ohio, which provides a range of products and services to businesses including uniforms, mats, mops, cleaning and restroom supplies, first aid and safety products, fire extinguishers and testing, and safety courses. Cintas is a publicly held company traded on the Nasdaq Global Select Market under the symbol CTAS and is a component of the S&P 500 Index.
Norwegian Cruise Line (NCL) is an American cruise line founded in Norway in 1966, headquartered in Miami-Dade County, Florida, and incorporated in the Bahamas. It is the fourth-largest cruise line in the world by passengers, controlling about 8.6% of the total worldwide share of the cruise market by passengers as of 2021. It is wholly owned by parent company Norwegian Cruise Line Holdings.
CTAS vs NCLH — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $2.2B |
| Net Profit | $495.3M | $14.3M |
| Gross Margin | 50.4% | 41.0% |
| Operating Margin | 23.4% | 8.3% |
| Net Margin | 17.7% | 0.6% |
| Revenue YoY | 9.3% | 6.4% |
| Net Profit YoY | 10.4% | -94.4% |
| EPS (diluted) | $1.21 | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.8B | $2.2B | ||
| Q3 25 | $2.7B | $2.9B | ||
| Q2 25 | $2.7B | $2.5B | ||
| Q1 25 | $2.6B | $2.1B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $2.5B | $2.8B | ||
| Q2 24 | $2.5B | $2.4B | ||
| Q1 24 | $2.4B | $2.2B |
| Q4 25 | $495.3M | $14.3M | ||
| Q3 25 | $491.1M | $419.3M | ||
| Q2 25 | $448.3M | $30.0M | ||
| Q1 25 | $463.5M | $-40.3M | ||
| Q4 24 | $448.5M | $254.5M | ||
| Q3 24 | $452.0M | $474.9M | ||
| Q2 24 | $414.3M | $163.4M | ||
| Q1 24 | $397.6M | $17.4M |
| Q4 25 | 50.4% | 41.0% | ||
| Q3 25 | 50.3% | 47.1% | ||
| Q2 25 | 49.7% | 42.1% | ||
| Q1 25 | 50.6% | 38.7% | ||
| Q4 24 | 49.8% | 38.0% | ||
| Q3 24 | 50.1% | 45.2% | ||
| Q2 24 | — | 38.7% | ||
| Q1 24 | — | 36.7% |
| Q4 25 | 23.4% | 8.3% | ||
| Q3 25 | 22.7% | 25.5% | ||
| Q2 25 | 22.4% | 16.8% | ||
| Q1 25 | 23.4% | 9.4% | ||
| Q4 24 | 23.1% | 10.2% | ||
| Q3 24 | 22.4% | 24.6% | ||
| Q2 24 | 22.2% | 14.4% | ||
| Q1 24 | 21.6% | 10.0% |
| Q4 25 | 17.7% | 0.6% | ||
| Q3 25 | 18.1% | 14.3% | ||
| Q2 25 | 16.8% | 1.2% | ||
| Q1 25 | 17.8% | -1.9% | ||
| Q4 24 | 17.5% | 12.1% | ||
| Q3 24 | 18.1% | 16.9% | ||
| Q2 24 | 16.8% | 6.9% | ||
| Q1 24 | 16.5% | 0.8% |
| Q4 25 | $1.21 | $0.08 | ||
| Q3 25 | $1.20 | $0.86 | ||
| Q2 25 | $1.08 | $0.07 | ||
| Q1 25 | $1.13 | $-0.09 | ||
| Q4 24 | $1.09 | $0.55 | ||
| Q3 24 | $1.10 | $0.95 | ||
| Q2 24 | $4.00 | $0.35 | ||
| Q1 24 | $3.84 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $200.8M | $209.9M |
| Total DebtLower is stronger | $2.4B | $13.7B |
| Stockholders' EquityBook value | $4.5B | $2.2B |
| Total Assets | $10.1B | $22.5B |
| Debt / EquityLower = less leverage | 0.54× | 6.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $200.8M | $209.9M | ||
| Q3 25 | $138.1M | $166.8M | ||
| Q2 25 | $264.0M | $184.0M | ||
| Q1 25 | $243.4M | $184.4M | ||
| Q4 24 | $122.4M | $190.8M | ||
| Q3 24 | $101.4M | $332.5M | ||
| Q2 24 | $342.0M | $594.1M | ||
| Q1 24 | $128.5M | $559.8M |
| Q4 25 | $2.4B | $13.7B | ||
| Q3 25 | $2.4B | $13.6B | ||
| Q2 25 | $2.4B | $12.6B | ||
| Q1 25 | $2.0B | $12.9B | ||
| Q4 24 | $2.0B | $11.8B | ||
| Q3 24 | $2.0B | $11.8B | ||
| Q2 24 | $2.0B | $11.9B | ||
| Q1 24 | $2.5B | $12.0B |
| Q4 25 | $4.5B | $2.2B | ||
| Q3 25 | $4.8B | $2.2B | ||
| Q2 25 | $4.7B | $1.6B | ||
| Q1 25 | $4.6B | $1.4B | ||
| Q4 24 | $4.3B | $1.4B | ||
| Q3 24 | $4.0B | $1.1B | ||
| Q2 24 | $4.3B | $693.1M | ||
| Q1 24 | $4.2B | $362.1M |
| Q4 25 | $10.1B | $22.5B | ||
| Q3 25 | $9.8B | $22.2B | ||
| Q2 25 | $9.8B | $21.6B | ||
| Q1 25 | $9.6B | $21.4B | ||
| Q4 24 | $9.4B | $20.0B | ||
| Q3 24 | $9.1B | $19.8B | ||
| Q2 24 | $9.2B | $20.1B | ||
| Q1 24 | $9.0B | $19.8B |
| Q4 25 | 0.54× | 6.21× | ||
| Q3 25 | 0.51× | 6.22× | ||
| Q2 25 | 0.52× | 8.05× | ||
| Q1 25 | 0.44× | 9.09× | ||
| Q4 24 | 0.47× | 8.26× | ||
| Q3 24 | 0.50× | 10.35× | ||
| Q2 24 | 0.47× | 17.19× | ||
| Q1 24 | 0.58× | 33.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $531.2M | $459.1M |
| Free Cash FlowOCF − Capex | $425.0M | $21.5M |
| FCF MarginFCF / Revenue | 15.2% | 1.0% |
| Capex IntensityCapex / Revenue | 3.8% | 19.5% |
| Cash ConversionOCF / Net Profit | 1.07× | 32.21× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $-1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $531.2M | $459.1M | ||
| Q3 25 | $414.5M | $236.6M | ||
| Q2 25 | $635.7M | $714.9M | ||
| Q1 25 | $622.0M | $679.2M | ||
| Q4 24 | $441.4M | $399.3M | ||
| Q3 24 | $466.7M | $172.5M | ||
| Q2 24 | $693.0M | $670.9M | ||
| Q1 24 | $657.1M | $807.2M |
| Q4 25 | $425.0M | $21.5M | ||
| Q3 25 | $312.5M | $-726.5M | ||
| Q2 25 | $521.1M | $381.2M | ||
| Q1 25 | $522.1M | $-846.0M | ||
| Q4 24 | $340.0M | $155.8M | ||
| Q3 24 | $373.8M | $-195.5M | ||
| Q2 24 | $591.1M | $330.2M | ||
| Q1 24 | $550.1M | $548.3M |
| Q4 25 | 15.2% | 1.0% | ||
| Q3 25 | 11.5% | -24.7% | ||
| Q2 25 | 19.5% | 15.1% | ||
| Q1 25 | 20.0% | -39.8% | ||
| Q4 24 | 13.3% | 7.4% | ||
| Q3 24 | 14.9% | -7.0% | ||
| Q2 24 | 23.9% | 13.9% | ||
| Q1 24 | 22.9% | 25.0% |
| Q4 25 | 3.8% | 19.5% | ||
| Q3 25 | 3.8% | 32.8% | ||
| Q2 25 | 4.3% | 13.3% | ||
| Q1 25 | 3.8% | 71.7% | ||
| Q4 24 | 4.0% | 11.5% | ||
| Q3 24 | 3.7% | 13.1% | ||
| Q2 24 | 4.1% | 14.4% | ||
| Q1 24 | 4.4% | 11.8% |
| Q4 25 | 1.07× | 32.21× | ||
| Q3 25 | 0.84× | 0.56× | ||
| Q2 25 | 1.42× | 23.83× | ||
| Q1 25 | 1.34× | — | ||
| Q4 24 | 0.98× | 1.57× | ||
| Q3 24 | 1.03× | 0.36× | ||
| Q2 24 | 1.67× | 4.10× | ||
| Q1 24 | 1.65× | 46.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTAS
| Uniform Rental And Facility Services Segment | $2.2B | 77% |
| First Aid And Safety Services Segment | $342.2M | 12% |
| Fire Protection Services | $222.5M | 8% |
| Uniform Direct Sales | $79.8M | 3% |
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
