$251.78−0.54 (−0.21%)
At close: Oct 2, 2026, 4:00 PM ET
Unifirst Corp. · Financials
Is this a real, growing, cash-generative business, or a story propped up by accounting?
Business engineSteady: revenue compounds ~7.4%/yr (FY21→FY25), net margin 6.1%, and free cash flow (~$142.5M) tracks net income. Earnings are cash, not paper.
The four lines that matter · FY21–FY25
Revenue ($M)▲0.2%
2,432.4
FY21→FY25CAGR +7.4%/yr
Net income ($M)▲1.9%
148.3
FY21→FY25CAGR −0.5%/yr
Free cash flow ($M)▲5.7%
142.5
FY21→FY25CAGR +16.0%/yr
Diluted EPS▲2.7%
7.98
buyback-liftedCAGR +0.1%/yr
What the receipts whisper · what a headline number hides
Share count
−2.4%
19.0mn → 18.6mn diluted shares since FY21. Part of EPS growth is the shrinking denominator. Watch net income too.
Capex
$154.3M
steady at 6.3% of revenue (−3.8% YoY).
Returns vs FCF
67%
$95.5M returned vs $142.5M of FCF in FY25. Buybacks + dividends covered by cash flow.
What the income statement says · FY21–FY25
Where every revenue dollar goes · FY25 ($M)
6¢ of every revenue dollar becomes profit. The biggest cost lever is COGS.
Margin trend · direction beats level Gross Operating Net
Over this window: gross 37.5% → 36.6%. Net margin 6.1% is above the sector median.
The receipt · income statement · FY21–FY25 USD thousands except per-share & ratios · hover a line for its definition
| Line item | TTM † | FY25 | FY24 | FY23 | FY22 | FY21 | YoY | CAGR 21→25 |
|---|---|---|---|---|---|---|---|---|
| Revenue & profitability | ||||||||
Revenue | 2,448,762.0 | 2,432,352.0 | 2,427,431.0 | 2,233,047.0 | 2,000,822.0 | 1,826,216.0 | ▲0.2% | +7.4% |
Cost of revenue | 1,554,375.0 | 1,542,400.0 | 1,579,835.0 | 1,481,296.0 | 1,306,451.0 | 1,141,275.0 | ▼2.4% | +7.8% |
Gross profit | 894,387.0 | 889,952.0 | 847,596.0 | 751,751.0 | 694,371.0 | 684,941.0 | ▲5.0% | +6.8% |
Selling, general & admin | 579,390.0 | 565,099.0 | 522,586.0 | 496,915.0 | 451,243.0 | 383,161.0 | ▲8.1% | +10.2% |
Total operating expenses | 720,112.0 | 705,454.0 | 664,018.0 | 618,148.0 | 560,020.0 | 489,116.0 | ▲6.2% | +9.6% |
Operating incomefeeds ROC rank | 174,275.0 | 184,498.0 | 183,578.0 | 133,603.0 | 134,351.0 | 195,825.0 | ▲0.5% | −1.5% |
Other income, net | 10,142.0 | 10,877.0 | 5,801.0 | 5,234.0 | −26.0 | 1,046.0 | — | — |
Pretax income | 184,417.0 | 195,375.0 | 189,379.0 | 138,837.0 | 134,325.0 | 196,871.0 | ▲3.2% | −0.2% |
Income tax | 44,888.0 | 47,104.0 | 43,905.0 | 35,163.0 | 30,921.0 | 45,760.0 | ▲7.3% | +0.7% |
Net incomePiotroski ROA ✓feeds Buffett Quality owner earnings | 139,529.0 | 148,271.0 | 145,474.0 | 103,674.0 | 103,404.0 | 151,111.0 | ▲1.9% | −0.5% |
| Per share | ||||||||
Diluted EPSbuyback-sensitive | 7.56 | 7.98 | 7.77 | 5.53 | 5.46 | 7.94 | ▲2.7% | +0.1% |
Diluted shares (mn) | 18.19 | 18.58 | 18.72 | 18.76 | 18.93 | 19.04 | ▼0.8% | −0.6% |
| Margins | ||||||||
Gross margin46th pct in Consumer Cyclical | 36.5% | 36.6% | 34.9% | 33.7% | 34.7% | 37.5% | ▲1.7pp | −0.9pp |
Operating margin | 7.1% | 7.6% | 7.6% | 6.0% | 6.7% | 10.7% | ▲0.0pp | −3.1pp |
Net margin59th pct in Consumer Cyclical | 5.7% | 6.1% | 6.0% | 4.6% | 5.2% | 8.3% | ▲0.1pp | −2.2pp |
† TTM = trailing four quarters through 2025-11-29.
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These lines feed the tenet checklists: see which gates passTenets →Margins & returns continue as sector-ranked ratiosStatistics →
Annual report filed 2025-10-29 · view filings on SEC EDGAR ↗ · reported currency USD · as-filed figures may be later restated.
Statements normalized in our fundamentals DB · Not investment advice.
Statements normalized in our fundamentals DB · Not investment advice.
Annual and quarterly statements as filed, normalized into one comparable shape · Not investment advice.