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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
Quarterly Data

Sysco Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Jan 1, 2022 Oct 2, 2021 Jul 3, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018
Cash and cash equivalents 2.79 2.42 3.89 2.45 3.27 3.34 2.27 1.97 3.93 3.92 6.41 9.36 14.04 22.21 25.64 26.32 26.78 10.97 2.71 2.40 2.86 2.87 4.09 4.26
Accounts receivable, less allowances 21.37 22.49 21.39 22.94 22.31 23.03 22.22 24.03 21.91 21.40 19.69 19.50 17.66 14.61 12.70 13.66 12.79 17.89 22.59 23.20 23.27 23.78 22.80 22.88
Inventories 18.77 19.16 19.09 19.97 19.63 20.35 21.11 21.08 20.09 19.75 19.21 18.35 17.26 14.60 13.79 13.78 13.68 18.10 18.11 17.87 17.90 18.38 18.19 18.09
Prepaid expenses and other current assets 1.30 1.25 1.32 1.43 1.25 1.29 1.36 1.40 1.38 1.36 1.18 1.16 1.13 1.13 1.00 0.87 0.85 1.15 1.27 1.24 1.17 1.16 1.17 1.16
Income tax receivable 0.09 0.02 0.02 0.02 0.03 0.00 0.12 0.00 0.16 0.21 0.47 0.00 0.04 0.01 0.20 0.04 0.48 0.14 0.04 0.05 0.11 0.27 0.13 0.21
Current assets 44.32% 45.34% 45.71% 46.82% 46.48% 48.01% 47.07% 48.48% 47.47% 46.65% 46.97% 48.36% 50.13% 52.56% 53.32% 54.67% 54.57% 48.25% 44.71% 44.76% 45.31% 46.46% 46.38% 46.61%
Plant and equipment at cost, less accumulated depreciation 22.06 21.41 20.84 21.58 21.54 20.48 20.66 20.09 20.18 19.46 20.10 19.65 20.20 19.50 19.49 19.37 19.70 22.54 23.71 23.70 25.06 24.05 24.05 24.09
Goodwill 20.68 21.13 21.24 20.28 20.36 20.32 20.72 19.97 20.57 21.07 20.61 19.92 18.42 17.84 17.47 16.68 16.49 18.90 20.77 20.42 21.69 21.56 21.30 21.23
Intangibles, less amortization 4.77 4.60 4.75 3.76 3.77 3.91 4.13 4.08 4.31 4.67 4.23 4.20 3.48 3.49 3.55 3.41 3.45 3.93 4.42 4.35 4.77 4.88 4.95 5.09
Deferred income taxes 1.79 1.79 1.80 1.81 1.84 1.92 1.97 1.72 1.71 1.76 1.81 1.63 1.65 1.46 1.25 1.00 0.86 0.82 0.61 0.52 0.45 0.34 0.42 0.32
Operating lease right-of-use assets, net 3.70 3.57 3.33 3.33 3.21 3.12 3.21 3.17 3.27 3.53 3.38 3.40 3.31 3.00 2.83 2.73 2.67 3.04 3.26 3.31 0.00 0.00 0.00 0.00
Other assets 2.68 2.16 2.33 2.43 2.81 2.24 2.25 2.49 2.49 2.86 2.90 2.85 2.81 2.15 2.10 2.13 2.26 2.52 2.52 2.94 2.72 2.71 2.90 2.66
Other long-term assets 33.62% 33.25% 33.44% 31.61% 31.98% 31.51% 32.28% 31.43% 32.36% 33.89% 32.93% 31.99% 29.67% 27.94% 27.19% 25.96% 25.73% 29.22% 31.57% 31.54% 29.63% 29.49% 29.57% 29.30%
Long-term assets 55.68% 54.66% 54.29% 53.18% 53.52% 51.99% 52.93% 51.52% 52.53% 53.35% 53.03% 51.64% 49.87% 47.44% 46.68% 45.33% 45.43% 51.75% 55.29% 55.24% 54.69% 53.54% 53.62% 53.39%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-K (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-Q (reporting date: 2018-09-29).

The asset composition of the balance sheet demonstrates a significant period of volatility centered around 2020, followed by a return to a stabilized structural baseline. The most prominent shift is observed in the liquidity profile, characterized by a sharp increase in cash holdings during the onset of the global pandemic, which temporarily altered the relative weight of all other asset categories.

Liquidity and Cash Management
Cash and cash equivalents historically maintained a low profile, fluctuating between 2.4% and 4.3% of total assets from late 2018 through early 2020. A dramatic surge occurred starting in March 2020, with the ratio peaking at 26.78% in June 2020. This indicates a strategic move toward a defensive liquidity posture. From 2021 onward, a consistent downward trend is observed as cash levels were redeployed, returning to a range of 2.4% to 3.9% by June 2024.
Working Capital Dynamics
Accounts receivable and inventories exhibit a strong correlation in their movement. Accounts receivable dropped from approximately 23% of total assets to a low of 12.79% in June 2020, coinciding with the spike in cash. Similarly, inventories dipped from roughly 18% to 13.68% during the same period. Both metrics recovered steadily after 2020; accounts receivable returned to the 21-23% range, and inventories stabilized between 18% and 21% through 2024, suggesting a normalization of trade cycles and supply chain management.
Current Asset Composition
Total current assets shifted from a baseline of approximately 45-46% to a peak of 54.67% in September 2020. This increase was driven almost exclusively by the temporary accumulation of cash rather than organic growth in receivables or inventory. By June 2024, current assets returned to 44.32%, mirroring pre-pandemic structural levels.
Long-term Asset Trends
Fixed assets, represented by plant and equipment, showed a gradual decline from 24% in 2018 to a low of 19.37% in September 2020, before recovering to 22.06% by June 2024. Goodwill remained relatively stable as a percentage of total assets, generally fluctuating between 16% and 21%. The introduction of operating lease right-of-use assets in late 2019, which stabilized between 3% and 3.7%, reflects a permanent change in the balance sheet structure, likely due to accounting standard updates.
Overall Structural Balance
The balance sheet maintains a consistent split between current and long-term assets. While the ratio dipped during the liquidity surge of 2020, the long-term trend shows a return to a distribution where long-term assets comprise approximately 55% and current assets comprise approximately 45% of the total asset base.

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