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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

Microsoft Excel
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).

The asset composition reflects a significant shift in liquidity during 2020, followed by a gradual return to a structural baseline. Current assets experienced a temporary surge, peaking at 54.57% in 2020 before contracting to 44.32% by June 2024. Conversely, long-term assets decreased during the 2020 period but have since trended upward, constituting 55.68% of the total asset base by the end of the analyzed timeframe.

Current Asset Dynamics
Cash and cash equivalents showed the most extreme volatility, rising from 2.86% in 2019 to a peak of 26.78% in 2020, before declining steadily to 2.79% in 2024. Accounts receivable followed a different trajectory, dipping to 12.79% in 2020 and subsequently recovering to stabilize between 21.37% and 22.31% from 2022 through 2024. Inventories remained relatively stable, generally oscillating between 13.68% and 20.09% of total assets.
Non-Current Asset Composition
Plant and equipment, net of depreciation, remained consistent, fluctuating slightly between 19.70% and 25.06%. Goodwill and intangibles combined have maintained a stable share of the balance sheet, typically representing 20% to 25% of total assets. A notable increase is observed in other long-term assets, which rose from a low of 25.73% in 2020 to 33.62% in 2024, indicating a growing concentration of value in miscellaneous long-term holdings.
Overall Structural Shift
The asset mix reveals a cyclical movement where a heavy shift toward liquid assets occurred in 2020, followed by a reallocation of resources toward long-term assets and working capital in subsequent years. By 2024, the proportion of current assets had returned to levels nearly identical to those observed in 2019, while the weighting of long-term assets has slightly exceeded the 2019 baseline.

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