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Side-by-side financial comparison of Cintas (CTAS) and WATSCO INC (WSO). Click either name above to swap in a different company.
Cintas is the larger business by last-quarter revenue ($2.8B vs $1.6B, roughly 1.8× WATSCO INC). Cintas runs the higher net margin — 17.7% vs 4.5%, a 13.1% gap on every dollar of revenue. On growth, Cintas posted the faster year-over-year revenue change (9.3% vs -10.0%). Cintas produced more free cash flow last quarter ($425.0M vs $388.5M). Over the past eight quarters, Cintas's revenue compounded faster (7.9% CAGR vs 0.4%).
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.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
CTAS vs WSO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $1.6B |
| Net Profit | $495.3M | $71.7M |
| Gross Margin | 50.4% | 27.1% |
| Operating Margin | 23.4% | 6.4% |
| Net Margin | 17.7% | 4.5% |
| Revenue YoY | 9.3% | -10.0% |
| Net Profit YoY | 10.4% | -25.9% |
| EPS (diluted) | $1.21 | $1.82 |
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 | $1.6B | ||
| Q3 25 | $2.7B | $2.1B | ||
| Q2 25 | $2.7B | $2.1B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.5B | $2.2B | ||
| Q2 24 | $2.5B | $2.1B | ||
| Q1 24 | $2.4B | $1.6B |
| Q4 25 | $495.3M | $71.7M | ||
| Q3 25 | $491.1M | $161.6M | ||
| Q2 25 | $448.3M | $183.6M | ||
| Q1 25 | $463.5M | $80.1M | ||
| Q4 24 | $448.5M | $96.8M | ||
| Q3 24 | $452.0M | $171.0M | ||
| Q2 24 | $414.3M | $181.4M | ||
| Q1 24 | $397.6M | $87.0M |
| Q4 25 | 50.4% | 27.1% | ||
| Q3 25 | 50.3% | 27.5% | ||
| Q2 25 | 49.7% | 29.3% | ||
| Q1 25 | 50.6% | 28.1% | ||
| Q4 24 | 49.8% | 26.7% | ||
| Q3 24 | 50.1% | 26.2% | ||
| Q2 24 | — | 27.1% | ||
| Q1 24 | — | 27.5% |
| Q4 25 | 23.4% | 6.4% | ||
| Q3 25 | 22.7% | 11.4% | ||
| Q2 25 | 22.4% | 13.2% | ||
| Q1 25 | 23.4% | 7.3% | ||
| Q4 24 | 23.1% | 7.8% | ||
| Q3 24 | 22.4% | 11.6% | ||
| Q2 24 | 22.2% | 12.6% | ||
| Q1 24 | 21.6% | 8.1% |
| Q4 25 | 17.7% | 4.5% | ||
| Q3 25 | 18.1% | 7.8% | ||
| Q2 25 | 16.8% | 8.9% | ||
| Q1 25 | 17.8% | 5.2% | ||
| Q4 24 | 17.5% | 5.5% | ||
| Q3 24 | 18.1% | 7.9% | ||
| Q2 24 | 16.8% | 8.5% | ||
| Q1 24 | 16.5% | 5.6% |
| Q4 25 | $1.21 | $1.82 | ||
| Q3 25 | $1.20 | $3.98 | ||
| Q2 25 | $1.08 | $4.52 | ||
| Q1 25 | $1.13 | $1.93 | ||
| Q4 24 | $1.09 | $2.42 | ||
| Q3 24 | $1.10 | $4.22 | ||
| Q2 24 | $4.00 | $4.49 | ||
| Q1 24 | $3.84 | $2.17 |
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 | $733.3M |
| Total DebtLower is stronger | $2.4B | $361.6M |
| Stockholders' EquityBook value | $4.5B | $2.8B |
| Total Assets | $10.1B | $4.4B |
| Debt / EquityLower = less leverage | 0.54× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $200.8M | $733.3M | ||
| Q3 25 | $138.1M | $524.3M | ||
| Q2 25 | $264.0M | $293.0M | ||
| Q1 25 | $243.4M | $431.8M | ||
| Q4 24 | $122.4M | $781.9M | ||
| Q3 24 | $101.4M | $550.0M | ||
| Q2 24 | $342.0M | $424.9M | ||
| Q1 24 | $128.5M | $478.9M |
| Q4 25 | $2.4B | $361.6M | ||
| Q3 25 | $2.4B | $340.8M | ||
| Q2 25 | $2.4B | $338.7M | ||
| Q1 25 | $2.0B | $346.4M | ||
| Q4 24 | $2.0B | $337.2M | ||
| Q3 24 | $2.0B | $321.0M | ||
| Q2 24 | $2.0B | $307.1M | ||
| Q1 24 | $2.5B | $306.3M |
| Q4 25 | $4.5B | $2.8B | ||
| Q3 25 | $4.8B | $2.8B | ||
| Q2 25 | $4.7B | $2.8B | ||
| Q1 25 | $4.6B | $2.7B | ||
| Q4 24 | $4.3B | $2.7B | ||
| Q3 24 | $4.0B | $2.7B | ||
| Q2 24 | $4.3B | $2.6B | ||
| Q1 24 | $4.2B | $2.5B |
| Q4 25 | $10.1B | $4.4B | ||
| Q3 25 | $9.8B | $4.6B | ||
| Q2 25 | $9.8B | $4.7B | ||
| Q1 25 | $9.6B | $4.5B | ||
| Q4 24 | $9.4B | $4.5B | ||
| Q3 24 | $9.1B | $4.5B | ||
| Q2 24 | $9.2B | $4.4B | ||
| Q1 24 | $9.0B | $4.4B |
| Q4 25 | 0.54× | 0.13× | ||
| Q3 25 | 0.51× | 0.12× | ||
| Q2 25 | 0.52× | 0.12× | ||
| Q1 25 | 0.44× | 0.13× | ||
| Q4 24 | 0.47× | 0.13× | ||
| Q3 24 | 0.50× | 0.12× | ||
| Q2 24 | 0.47× | 0.12× | ||
| Q1 24 | 0.58× | 0.12× |
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 | $399.8M |
| Free Cash FlowOCF − Capex | $425.0M | $388.5M |
| FCF MarginFCF / Revenue | 15.2% | 24.6% |
| Capex IntensityCapex / Revenue | 3.8% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.07× | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $531.2M | $399.8M | ||
| Q3 25 | $414.5M | $354.9M | ||
| Q2 25 | $635.7M | $-7.4M | ||
| Q1 25 | $622.0M | $-177.6M | ||
| Q4 24 | $441.4M | $378.9M | ||
| Q3 24 | $466.7M | $232.8M | ||
| Q2 24 | $693.0M | $57.7M | ||
| Q1 24 | $657.1M | $103.7M |
| Q4 25 | $425.0M | $388.5M | ||
| Q3 25 | $312.5M | $346.1M | ||
| Q2 25 | $521.1M | $-14.3M | ||
| Q1 25 | $522.1M | $-185.2M | ||
| Q4 24 | $340.0M | $370.9M | ||
| Q3 24 | $373.8M | $223.0M | ||
| Q2 24 | $591.1M | $51.3M | ||
| Q1 24 | $550.1M | $97.9M |
| Q4 25 | 15.2% | 24.6% | ||
| Q3 25 | 11.5% | 16.7% | ||
| Q2 25 | 19.5% | -0.7% | ||
| Q1 25 | 20.0% | -12.1% | ||
| Q4 24 | 13.3% | 21.1% | ||
| Q3 24 | 14.9% | 10.3% | ||
| Q2 24 | 23.9% | 2.4% | ||
| Q1 24 | 22.9% | 6.3% |
| Q4 25 | 3.8% | 0.7% | ||
| Q3 25 | 3.8% | 0.4% | ||
| Q2 25 | 4.3% | 0.3% | ||
| Q1 25 | 3.8% | 0.5% | ||
| Q4 24 | 4.0% | 0.5% | ||
| Q3 24 | 3.7% | 0.5% | ||
| Q2 24 | 4.1% | 0.3% | ||
| Q1 24 | 4.4% | 0.4% |
| Q4 25 | 1.07× | 5.57× | ||
| Q3 25 | 0.84× | 2.20× | ||
| Q2 25 | 1.42× | -0.04× | ||
| Q1 25 | 1.34× | -2.22× | ||
| Q4 24 | 0.98× | 3.91× | ||
| Q3 24 | 1.03× | 1.36× | ||
| Q2 24 | 1.67× | 0.32× | ||
| Q1 24 | 1.65× | 1.19× |
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% |
WSO
Segment breakdown not available.
