UNIFIRST CORP UNF
UniFirst Corporation, a corporation organized under the laws of the Commonwealth of Massachusetts in 1950, together with its subsidiaries, hereunder referred to as "we", "our", the "Company", or "UniFirst", is one of the leading providers in the supply and servicing of uniform and workwear programs, facility management and service products, as well as first aid and safety supplies and services in North America. We design, manufacture, personalize, rent, clean, deliver, and sell a wide range of uniforms and protective clothing. We also rent and sell industrial wiping products, floor mats, facility management and service products and other non-garment items, and provide restroom and cleaning supplies and first aid cabinet services and other safety supplies as well as certain safety training to a variety of manufacturers, retailers and service companies. Our safety offerings also include fire protection services, such as inspection, testing, and maintenance of fire extinguishers and other fire safety equipment. We serve businesses of all sizes across multiple industry sectors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.43B | $2.43B | $2.23B | $2.00B | $1.83B | $1.80B | $1.81B | $1.70B | $1.59B | $1.47B |
| Cost of revenue | $1.54B | $1.58B | $1.48B | $1.31B | $1.14B | $1.16B | $1.14B | $1.06B | $993.6M | $900.4M |
| Gross profit | $890.0M | $847.6M | $751.8M | $694.4M | $684.9M | $639.2M | $670.2M | $639.8M | $597.4M | $567.6M |
| SG&A | $565.1M | $522.6M | $496.9M | $451.2M | $383.2M | $361.8M | $334.8M | $360.7M | $342.4M | $284.8M |
| Total operating expenses | $2.25B | $2.24B | $2.10B | $1.87B | $1.63B | $1.63B | $1.58B | $1.51B | $1.48B | $1.27B |
| Operating income | $184.5M | $183.6M | $133.6M | $134.4M | $195.8M | $172.7M | $232.0M | $182.4M | $110.3M | $201.2M |
| Interest expense | $9.8M | $7.2M | $6.7M | $2.9M | $2.6M | $6.4M | $9.1M | $5.5M | $4.3M | $2.5M |
| Pre-tax income | $195.4M | $189.4M | $138.8M | $134.3M | $196.9M | $177.9M | $237.9M | $187.2M | $115.1M | $203.4M |
| Income tax | $47.1M | $43.9M | $35.2M | $30.9M | $45.8M | $42.1M | $58.8M | $23.4M | $44.9M | $78.3M |
| Net income | $148.3M | $145.5M | $103.7M | $103.4M | $151.1M | $135.8M | $179.1M | $163.9M | $70.2M | $125.0M |
| EPS, diluted | 7.98 | 7.77 | 5.53 | 5.46 | 7.94 | 7.13 | 9.33 | 8.21 | 3.44 | 6.17 |
| Shares, diluted (wtd. avg.) | $18.6M | $18.7M | $18.8M | $18.9M | $19.0M | $19.0M | $19.2M | $20.0M | $20.3M | $20.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $203.5M | $161.6M | $79.4M | $376.4M | $512.9M | — | — | — | — | $363.8M |
| Short-term investments | $5.7M | $13.5M | $10.2M | $0 | $0 | $0 | — | — | — | — |
| Receivables | $285.3M | $278.9M | $279.1M | $249.2M | $208.3M | $190.9M | $203.5M | $200.8M | $187.2M | $156.6M |
| Inventory | $145.2M | $156.9M | $148.3M | $151.5M | $143.6M | $106.3M | $100.9M | $90.2M | $79.1M | $78.9M |
| Total current assets | $924.6M | $915.7M | $840.1M | $1.06B | $1.10B | $969.3M | $913.8M | $784.8M | $814.2M | $777.6M |
| Property, plant and equipment | $829.6M | $801.6M | $756.5M | $665.1M | $617.7M | $582.5M | $574.5M | $548.0M | $525.1M | $539.8M |
| Goodwill | $657.7M | $648.9M | $647.9M | $457.3M | $429.5M | $424.8M | $401.2M | $397.4M | $376.1M | $320.6M |
| Other intangibles | $105.8M | $120.0M | $145.6M | $85.0M | $84.6M | $85.5M | $72.7M | $82.5M | $71.7M | $38.7M |
| Total assets | $2.78B | $2.70B | $2.57B | $2.43B | $2.38B | $2.20B | $2.05B | $1.84B | $1.82B | $1.70B |
| Accounts payable | $95.0M | $92.5M | $92.7M | $82.1M | $81.4M | $64.0M | $77.9M | $73.5M | $64.7M | $50.9M |
| Total current liabilities | $290.4M | $281.4M | $267.2M | $243.7M | $254.7M | $210.1M | $189.8M | $198.5M | $177.8M | $152.6M |
| Total liabilities | $609.2M | $587.9M | $566.0M | $512.1M | $508.1M | $457.9M | $406.1M | $378.4M | $365.9M | $337.2M |
| Retained earnings | $2.08B | $2.03B | $1.93B | $1.85B | $1.81B | $1.68B | $1.59B | $1.41B | $1.39B | $1.32B |
| Total equity | $2.17B | $2.11B | $2.00B | $1.92B | $1.87B | $1.74B | $1.64B | $1.46B | $1.45B | $1.36B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $296.9M | $295.3M | $215.8M | $122.6M | $212.3M | $286.7M | $282.1M | $230.1M | $218.3M | $207.6M |
| Depreciation and amortisation | $140.4M | $141.4M | $121.2M | $108.8M | $106.0M | $104.7M | $103.3M | $96.7M | $88.9M | $81.6M |
| Stock-based compensation | $12.2M | $9.8M | $9.1M | $9.1M | $7.0M | $6.0M | $5.8M | $4.6M | $12.5M | $5.6M |
| Capital expenditure | $154.3M | $160.4M | $172.0M | $144.3M | $133.6M | $116.7M | $119.8M | $112.7M | $108.6M | $98.2M |
| Investing cash flow | -$155.0M | -$162.2M | -$487.6M | -$186.5M | -$141.5M | -$157.6M | -$124.3M | -$153.9M | -$233.0M | -$114.7M |
| Financing cash flow | -$101.2M | -$50.4M | -$25.8M | -$69.4M | -$34.3M | -$41.1M | -$41.5M | -$152.9M | -$2.2M | -$5.6M |
| Dividends paid | $24.6M | $23.3M | $22.1M | $20.8M | $18.1M | $15.7M | $8.3M | $4.2M | $2.9M | $2.9M |
| Buybacks | $70.9M | $23.8M | $0 | $44.4M | $11.2M | $21.7M | $30.5M | $146.0M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-25-256222.
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