Stock Analysis on Net
Stock Analysis on Net

Sysco Corp. (NYSE:SYY)

This company has been moved to the archive! The financial data has not been updated since August 28, 2024.

Common-Size Balance Sheet: Assets

Sysco Corp., common-size consolidated balance sheet: assets

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Jun 29, 2024 Jul 1, 2023 Jul 2, 2022 Jul 3, 2021 Jun 27, 2020 Jun 29, 2019
Cash and cash equivalents 2.79 3.27 3.93 14.04 26.78 2.86
Accounts receivable, less allowances 21.37 22.31 21.91 17.66 12.79 23.27
Inventories 18.77 19.63 20.09 17.26 13.68 17.90
Prepaid expenses and other current assets 1.30 1.25 1.38 1.13 0.85 1.17
Income tax receivable 0.09 0.03 0.16 0.04 0.48 0.11
Current assets 44.32% 46.48% 47.47% 50.13% 54.57% 45.31%
Plant and equipment at cost, less accumulated depreciation 22.06 21.54 20.18 20.20 19.70 25.06
Goodwill 20.68 20.36 20.57 18.42 16.49 21.69
Intangibles, less amortization 4.77 3.77 4.31 3.48 3.45 4.77
Deferred income taxes 1.79 1.84 1.71 1.65 0.86 0.45
Operating lease right-of-use assets, net 3.70 3.21 3.27 3.31 2.67 0.00
Other assets 2.68 2.81 2.49 2.81 2.26 2.72
Other long-term assets 33.62% 31.98% 32.36% 29.67% 25.73% 29.63%
Long-term assets 55.68% 53.52% 52.53% 49.87% 45.43% 54.69%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets experienced a significant increase in 2020, rising to 26.78% from 2.86% in 2019. This spike was followed by a decline in subsequent years, stabilizing around 3% by 2024. The initial surge likely indicates a strategic accumulation of liquid resources during 2020, with a return to more typical levels thereafter.
Accounts receivable, less allowances
This category showed a marked decrease in 2020, dropping to 12.79% from 23.27% in 2019, but then gradually increased over the following years, reaching 21.37% by 2024. The trend points to a reduction in receivables during 2020 possibly due to tightened credit or reduced sales, followed by a recovery aligning closer to pre-2020 levels.
Inventories
Inventories as a percentage of total assets declined in 2020 to 13.68% from 17.9% in 2019 but increased in the subsequent years, peaking at 20.09% in 2022 before slightly decreasing to 18.77% in 2024. This pattern suggests inventory management adjustments possibly tied to operational needs or market conditions, with inventory levels post-2020 being above the 2019 benchmark.
Prepaid expenses and other current assets
The allocation for prepaid expenses and other current assets remained relatively stable throughout the period, fluctuating slightly around 1% of total assets with minor increases and decreases but no significant long-term trend.
Income tax receivable
Income tax receivables showed low variability, generally remaining under 0.5% of total assets. Notable spikes occurred in 2020 and 2022, but these were brief and values returned to minimal levels by 2024.
Current assets
The share of current assets in total assets was elevated in 2020 at 54.57%, up from 45.31% in 2019, then gradually declined each year to 44.32% in 2024. The temporary increase in 2020 reflects a shift towards more liquid and short-term assets during that period, with a return to a lower base thereafter.
Plant and equipment at cost, less accumulated depreciation
Plant and equipment showed a decreasing trend from 25.06% in 2019 to a low of 19.7% in 2020, followed by a steady increase each year, reaching 22.06% in 2024. The initial decline may indicate asset disposals or reduced capital expenditure in 2020, with a recovery in investment or valuation in the following years.
Goodwill
Goodwill's proportion of total assets decreased sharply in 2020 to 16.49% from 21.69% in 2019 but then recovered steadily to around 20.68% by 2024. This fluctuation suggests impairment or revaluation events in 2020, followed by stabilization.
Intangibles, less amortization
Intangible assets showed minor variation overall, decreasing to 3.45% in 2020 from 4.77% in 2019, fluctuating around this lower level before returning to 4.77% by 2024. This pattern indicates relatively stable intangible asset values over time with some amortization offset by additions or revaluations.
Deferred income taxes
There was a steady increase in deferred income taxes from 0.45% in 2019 to 1.79% in 2024, demonstrating a growing deferred tax position over the period.
Operating lease right-of-use assets, net
Starting from no reported amounts in 2019, this category appeared in 2020 at 2.67% and increased gradually to 3.7% by 2024. This likely reflects the adoption and growing recognition of lease accounting standards over time.
Other assets
Other assets remained relatively constant as a proportion of total assets, around 2.5% to 2.8%, with minor fluctuations over the six-year span.
Other long-term assets
Other long-term assets decreased from 29.63% in 2019 to 25.73% in 2020, subsequently increasing yearly to reach 33.62% by 2024. The consistent upward trend after 2020 indicates increasing investments or value recognition in assets classified under this category.
Long-term assets
The proportion of long-term assets to total assets showed a decline from 54.69% in 2019 to 45.43% in 2020, followed by a recovery and steady rise reaching 55.68% in 2024. This reflects a strategic shift in asset allocation, initially favoring current or liquid assets in 2020, then returning to a focus on longer-term investments.
Total assets
The total assets are consistently 100% by definition, serving as the baseline for the percentage comparisons of the other items.