Vestis Corp VSTS
Vestis Corporation, a Delaware Corporation ("Vestis", the "Company", "our", "we" or "us") is a leading provider of uniform rentals and workplace supplies across the United States and Canada. We provide uniforms, mats, towels, linens, restroom supplies, first-aid supplies, safety products and other workplace supplies. In fiscal year 2025, we generated revenue of approximately $2.7 billion. We are one of the largest companies operating within the United States and Canada in our industry.
We have over 75 years of experience providing uniforms and workplace supplies and a broad footprint that supports efficient delivery of our services and products to more than 300,000 customer accounts (based on unique customer identification numbers) across the United States and Canada. Our customer base participates in a wide variety of industries including manufacturing, hospitality, retail, food processing, pharmaceuticals, healthcare and automotive. We serve customers ranging from small, family-owned operations with a single location to large corporations and national franchises with multiple locations.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $2.73B | $2.81B | $2.83B | $2.69B | — |
| SG&A | $517.3M | $517.2M | $500.7M | $450.7M | — |
| Operating income | $64.4M | $158.0M | $217.9M | $192.2M | — |
| Interest expense | — | $126.6M | $2.1M | $4.5M | — |
| Pre-tax income | -$44.3M | $32.0M | $269.7M | $190.0M | — |
| Income tax | $4.1M | $11.1M | $56.6M | $48.3M | — |
| Net income | -$40.2M | $21.0M | $213.2M | $141.7M | — |
| EPS, basic | -0.31 | 0.16 | 1.63 | 1.08 | — |
| EPS, diluted | -0.31 | 0.16 | 1.63 | 1.08 | — |
| Shares, diluted (wtd. avg.) | $131.8M | $131.8M | $130.7M | $130.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $29.7M | $31.0M | $36.1M | $23.7M | $41.1M |
| Receivables | $162.3M | $177.3M | $392.9M | — | — |
| Inventory | $179.0M | $164.9M | $174.7M | — | — |
| Total current assets | $850.0M | $813.3M | $1.02B | — | — |
| Property, plant and equipment | — | $670.9M | $664.5M | — | — |
| Goodwill | $961.7M | $963.8M | $963.5M | $963.4M | — |
| Other intangibles | $188.8M | $212.8M | $238.6M | — | — |
| Total assets | $2.91B | $2.93B | $3.16B | — | — |
| Accounts payable | $158.4M | $163.1M | $134.5M | — | — |
| Short-term debt | $0 | $0 | $26.2M | — | — |
| Total current liabilities | $409.0M | $456.1M | $395.5M | — | — |
| Long-term debt | $1.16B | $1.15B | $1.46B | — | — |
| Total liabilities | $2.04B | $2.03B | $2.28B | — | — |
| Retained earnings | -$46.9M | $2.6M | $0 | — | — |
| Total equity | $865.6M | $903.1M | $877.4M | $2.34B | $2.33B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $64.2M | $471.8M | $257.0M | $232.8M | — |
| Depreciation and amortisation | $143.0M | $140.8M | $136.5M | $134.4M | — |
| Stock-based compensation | $11.6M | $16.3M | $14.5M | $17.4M | — |
| Capital expenditure | $58.5M | $78.9M | $77.9M | $76.4M | — |
| Investing cash flow | -$19.8M | -$73.6M | -$14.7M | -$86.1M | — |
| Financing cash flow | -$46.1M | -$403.0M | -$230.3M | -$162.5M | — |
| Dividends paid | $13.8M | $13.8M | $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 0001628280-25-054597.
Others in SIC 5190
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CENT | CENTRAL GARDEN & PET CO | $2.56B | 16.4x | -2.2% |
| NHTC | NATURAL HEALTH TRENDS CORP | $13.6M | — | -7.4% |
| EDUC | EDUCATIONAL DEVELOPMENT CORP | $11.5M | 5.0x | -33.0% |
| HYFM | HYDROFARM HOLDINGS GROUP, INC. | $4.6M | — | -29.4% |