At a glance
Unifirst Corporation is worth $4.54B, about 42 times its fiscal 2026 earnings. Revenue grew 3.7% to $2.52B in fiscal 2026, with 4.3% kept as profit; over 5 years it has grown 6.7% a year. It pays a 0.59% dividend yield, raised every year for at least 9 years, and returned $287.8M to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +58.4% over the past year with dividends reinvested and +5.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 39.0% in the 2020 crash (S&P 500: 33.7%) and 26.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 31 months after the lows.
The business in plain English
UniFirst, incorporated in Massachusetts in 1950, supplies work uniforms and protective clothing to businesses of all sizes across North America. Its core service is rental: UniFirst picks up dirty uniforms, usually weekly, and drops off cleaned ones on the same visit. Most customers sign service contracts of three to five years, so much of the revenue repeats. It also rents floor mats, mops and wiping cloths, and provides restroom supplies, first aid cabinets, safety training and fire extinguisher inspections.
UniFirst makes much of what it rents. In fiscal 2026, the year ended August 29, 2026, it manufactured about 65% of the garments it put into service, mainly at two plants in San Luis Potosi, Mexico, and one in Managua, Nicaragua. It also makes about 99% of its mats in Cave City, Arkansas. Customers span more than 300,000 locations in the U.S., Canada and Europe, and no single customer topped 10% of revenue in the three years through fiscal 2026.
Revenue was $2.52 billion in fiscal 2026. Uniform & Facility Service Solutions supplied 91%, First Aid & Safety Solutions 5%, and the Other segment, which decontaminates garments for nuclear plants, 4%. In March 2026, UniFirst agreed to be acquired by rival Cintas. The deal was still pending when its annual report was filed on October 28, 2026.
Price history
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UNF +58.4% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Uniform & Facility Service Solutions | $2.30B | 91% |
| First Aid & Safety Solutions | $127.0M | 5% |
| Other | $100.4M | 4% |
Latest results
- In Q4 FY2026 (ended Aug 29, 2026), revenue was $645.0M, up 5% from a year earlier, and net income was $34.7M (-15.4%).
- For fiscal 2026, revenue was $2.52B (+3.7% year over year; +6.7% a year from FY2021 to FY2026) with a 4.3% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +6.7% good |
|---|---|
| Operating margin | 5.4% watch |
| Free cash flow margin | 2.8% watch |
| Return on equity (FY2026) | 4.9% weak |
| Return on assets (FY2026) | 3.8% watch |
| Cash and investments | $192.1M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.83B | $151.1M | $78.7M |
| FY2022 | $2.00B | $103.4M | $-21.7M |
| FY2023 | $2.23B | $103.7M | $43.8M |
| FY2024 | $2.43B | $145.5M | $134.9M |
| FY2025 | $2.43B | $148.3M | $142.5M |
| FY2026 | $2.52B | $109.5M | $70.8M |
Valuation snapshot
| Market value | $4.54B |
|---|---|
| P/E ratio | 41.7 |
| Dividend yield | 0.59% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| UNF price data to Oct 28, 2026 | +30.7% | +58.4% | +17.0% | +5.4% | +8.0% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +30.7% |
| 2025 | +13.6% |
| 2024 | -5.7% |
| 2023 | -4.6% |
| 2022 | -7.6% |
| 2021 | -0.1% |
| 2020 | +5.4% |
| 2019 | +41.6% |
| 2018 | -13.1% |
| 2017 | +14.9% |
| 2016 | +38.0% |
| 2015 | -14.1% |
| 2014 | +13.7% |
| 2013 | +46.2% |
| 2012 | +29.6% |
| 2011 | +3.4% |
| 2010 | +14.8% |
| 2009 | +62.8% |
| 2008 | -21.5% |
| 2007 | -0.7% |
| 2006 | +24.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 47% over that stretch · deepest drop along the way 59%, back to its old high 10 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 37.4% over that stretch · deepest drop along the way 39%, back to its old high 9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 22.1% over that stretch · deepest drop along the way 26.1%, back to its old high 30.8 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 4 sales ($576K), 4 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 17, 2026 | David Martin Katz Executive VP, Sales/Marketing | sell (plan) | $348K |
| Feb 9, 2026 | William Masters Ross Executive Vice President | sell (plan) | $227K |
| Nov 3, 2025 | David Martin Katz Executive VP, Sales/Marketing | sell (plan) | $1K |
| Nov 3, 2025 | David Martin Katz Executive VP, Sales/Marketing | sell (plan) | $157.00 |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.3% | Jun 30, 2025 |
| Vanguard Portfolio Management | 5.68% | Mar 31, 2026 |
| Vanguard Capital Management | 5.24% | Mar 31, 2026 |
| The London Company | 5.09% | Jun 30, 2026 |
| Dimensional Fund Advisors LP | 4.8% | Sep 30, 2026 |
ETFs with the most weight in UNF
| BSMC Brandes U.S. Small-Mid Cap Value ETF | 2.16% |
| FDLS Inspire Fidelis Multi Factor ETF | 0.93% |
| OASC OneAscent Small Cap Core ETF | 0.77% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.4% |
| FLQS Franklin U.S. Small Cap Multifactor Index ETF | 0.37% |
| SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF | 0.31% |
| FYX First Trust Small Cap Core AlphaDEX Fund | 0.27% |
| VIOV Vanguard S&P Small-Cap 600 Value ETF | 0.27% |
What could go wrong
- The Cintas deal could fail or stall. The merger needs regulatory clearances and other conditions. If it fails or stalls, UniFirst bears deal costs and may owe Cintas a termination fee. Restrictions while the deal is pending can also hurt.
- Deal value moves with Cintas's stock. Each UniFirst share would convert into $155.00 cash plus 0.7720 Cintas shares, a ratio that won't adjust. If Cintas's stock price falls before closing, UniFirst holders receive less.
- Nuclear business relies on key customers. The Other segment, 4% of fiscal 2026 revenue, cleans garments exposed to radioactive material. Losing a key customer, or shifts in plant outage timing, can hurt profit more than the segment's size suggests.
- Accounting control gap and software overhaul. Management found a material weakness, a gap in internal checks that makes misstated financial reports more likely. UniFirst is installing a new ERP system, its core business software; a botched rollout could disrupt customer service.
- Principal shareholders control the vote. UniFirst is controlled by its principal shareholders, so other investors may be unable to change the outcome of shareholder votes. This would matter most if the Cintas deal does not close.
- Rising costs squeeze thin margins. Labor, healthcare, fuel and energy costs can rise faster than UniFirst can raise prices. Its operating margin, profit from operations as a share of revenue, was only 5.4% in fiscal 2026, leaving little cushion.
Recent events
- Quarterly results released
- Executive or board change
- Executive or board change
- Quarterly results released
- Shareholder vote results; Investor presentation or announcement; Other company announcement
- Quarterly results released
- Major agreement signed; Bylaws or fiscal year changed; Investor presentation or announcement; Other company announcement
- Quarterly results released
- Executive or board change
- Shareholder vote results; Other company announcement
For income and retirement investors
UniFirst has raised its dividend per share for at least nine straight fiscal years, to $1.38 in fiscal 2026 from $0.95 in fiscal 2021, about 7.7% a year. The fiscal 2026 dividend used 23% of earnings and 35.5% of free cash flow (cash left after capital spending), though free cash flow was negative in fiscal 2022. The yield was a modest 0.59% as of October 28, 2026. From fiscal 2022 to 2026, UniFirst spent $171.8 million repurchasing shares, more than the $116.0 million paid in dividends. If the Cintas deal closes, holders swap their shares for cash plus Cintas stock.
In past downturns the stock fell further than the market: 59% in the 2008 financial crisis (market 47%), 39% in the 2020 COVID crash (market 37%) and 26% in the 2022 bear market (market 22%). It took about 31 months after the 2022 low to regain its peak. A single stock carries more risk than a diversified fund.
Questions investors ask
How does UniFirst make money?
UniFirst makes most of its money renting and cleaning work uniforms. Most customers sign service contracts of three to five years, and UniFirst picks up dirty garments, usually weekly, and returns clean ones. It also rents floor mats, mops and wiping cloths and provides restroom, first aid and safety supplies. In fiscal 2026, Uniform & Facility Service Solutions produced 91% of $2.52 billion in revenue, First Aid & Safety Solutions 5%, and nuclear garment decontamination 4%. Net profit was $109.5 million, or 4.3% of revenue.
Is Cintas acquiring UniFirst?
Cintas agreed to acquire UniFirst on March 10, 2026, but the deal had not closed when UniFirst filed its annual report on October 28, 2026. It still needed regulatory clearances and other conditions met. Each UniFirst share would become $155.00 in cash plus 0.7720 Cintas shares. That ratio is fixed, so the stock portion's value rises and falls with Cintas's share price. UniFirst holders would have far less influence over Cintas than over UniFirst.
Does UniFirst raise its dividend every year?
Yes. Its dividend per share has risen for at least nine straight fiscal years, reaching $1.38 in fiscal 2026, up from $0.95 in fiscal 2021. The fiscal 2026 dividend used 23% of earnings, a modest share. The yield was low, 0.59% as of October 28, 2026. If the Cintas merger closes, UniFirst's own dividend would end and holders would receive cash and Cintas shares instead.
Who are UniFirst's main competitors?
UniFirst's annual report names Cintas, Alsco and Vestis as its main national rivals in uniform rental, plus many regional and local providers. The company says its biggest competition is businesses that purchase uniforms from online and other retailers and handle some services in-house. Firms in the industry compete on product range, service quality and price. One of those rivals, Cintas, agreed in March 2026 to acquire UniFirst.
How has UniFirst stock performed?
Unevenly. As of October 28, 2026, the share price was up 58.4% over one year and 30.7% year to date, after falling in each calendar year from 2021 through 2024. Over ten years it gained about 8% a year, or 117% in total. The price-to-earnings (P/E) ratio, share price divided by earnings per share, was 41.7 on fiscal 2026 earnings, high partly because profit fell 26.2% that year. With a takeover pending, the price also tends to track the deal's value.