Selected Financial Data
since 2005
Income Statement
Sysco Corp., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Sales | Operating income | Net earnings |
|---|---|---|---|
| Jun 29, 2024 | 78,844) | 3,202) | 1,955) |
| Jul 1, 2023 | 76,325) | 3,039) | 1,770) |
| Jul 2, 2022 | 68,636) | 2,339) | 1,359) |
| Jul 3, 2021 | 51,298) | 1,437) | 524) |
| Jun 27, 2020 | 52,893) | 750) | 215) |
| Jun 29, 2019 | 60,114) | 2,330) | 1,674) |
| Jun 30, 2018 | 58,727) | 2,329) | 1,431) |
| Jul 1, 2017 | 55,371) | 2,053) | 1,143) |
| Jul 2, 2016 | 50,367) | 1,851) | 950) |
| Jun 27, 2015 | 48,681) | 1,229) | 687) |
| Jun 28, 2014 | 46,517) | 1,587) | 932) |
| Jun 29, 2013 | 44,411) | 1,658) | 992) |
| Jun 30, 2012 | 42,381) | 1,891) | 1,122) |
| Jul 2, 2011 | 39,323) | 1,932) | 1,152) |
| Jul 3, 2010 | 37,243) | 1,976) | 1,180) |
| Jun 27, 2009 | 36,853) | 1,872) | 1,056) |
| Jun 28, 2008 | 37,522) | 1,880) | 1,106) |
| Jun 30, 2007 | 35,042) | 1,708) | 1,001) |
| Jul 1, 2006 | 32,628) | 1,495) | 855) |
| Jul 2, 2005 | 30,282) | —) | 961) |
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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27), 10-K (reporting date: 2014-06-28), 10-K (reporting date: 2013-06-29), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-07-02), 10-K (reporting date: 2010-07-03), 10-K (reporting date: 2009-06-27), 10-K (reporting date: 2008-06-28), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-07-01), 10-K (reporting date: 2005-07-02).
- Sales
- The sales figures demonstrate a general upward trend over the 20-year period. Starting at approximately $30.3 billion in mid-2005, sales steadily increased almost every year, reaching about $60.1 billion in mid-2019. There was a noticeable decline during the 2020 period, dropping to around $52.9 billion, which corresponds with the onset of global disruptions during that time. However, sales quickly recovered, showing strong growth to about $68.6 billion in mid-2022, and further rising to approximately $78.8 billion by mid-2024. This indicates resilience and a robust recovery trajectory in revenue generation.
- Operating Income
- Operating income data, available from 2006 onwards, exhibits volatility but an overall rising trend. It started at around $1.5 billion in 2006, increased to a peak of about $2.3 billion by 2019, followed by a sharp decline to $750 million in 2020. The significant drop in 2020 suggests operational challenges during that period. Subsequently, operating income recovered and continued to grow, reaching a new peak of approximately $3.2 billion in mid-2024, surpassing previous highs. This recovery reflects improved operational efficiency or advantageous market conditions post-2020.
- Net Earnings
- Net earnings show a somewhat irregular but generally positive trend across the years. Starting at $961 million in 2005, earnings fluctuated but tended to increase overall, peaking near $1.7 billion in 2019. The year 2020 witnessed a steep decline to just $215 million, mirroring the downturn in operating income and sales. A recovery trend is evident afterward, with net earnings rising to $1.35 billion by 2022 and further to $1.96 billion by 2024, which surpasses previous highs. This rebound suggests strengthened profitability following the 2020 contraction, possibly due to cost control measures, increased sales volume, or other strategic initiatives.
Balance Sheet: Assets
Sysco Corp., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Jun 29, 2024 | 11,043) | 24,917) |
| Jul 1, 2023 | 10,608) | 22,821) |
| Jul 2, 2022 | 10,483) | 22,086) |
| Jul 3, 2021 | 10,734) | 21,414) |
| Jun 27, 2020 | 12,348) | 22,628) |
| Jun 29, 2019 | 8,142) | 17,967) |
| Jun 30, 2018 | 8,003) | 18,070) |
| Jul 1, 2017 | 8,033) | 17,757) |
| Jul 2, 2016 | 10,054) | 16,722) |
| Jun 27, 2015 | 11,494) | 17,989) |
| Jun 28, 2014 | 6,682) | 13,168) |
| Jun 29, 2013 | 6,207) | 12,664) |
| Jun 30, 2012 | 6,085) | 12,095) |
| Jul 2, 2011 | 5,733) | 11,386) |
| Jul 3, 2010 | 5,076) | 10,314) |
| Jun 27, 2009 | 5,271) | 10,217) |
| Jun 28, 2008 | 5,175) | 10,082) |
| Jun 30, 2007 | 4,676) | 9,519) |
| Jul 1, 2006 | 4,400) | 8,992) |
| Jul 2, 2005 | 4,002) | 8,268) |
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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27), 10-K (reporting date: 2014-06-28), 10-K (reporting date: 2013-06-29), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-07-02), 10-K (reporting date: 2010-07-03), 10-K (reporting date: 2009-06-27), 10-K (reporting date: 2008-06-28), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-07-01), 10-K (reporting date: 2005-07-02).
- Current Assets
- The current assets show a general upward trend over the period from 2005 to 2024, starting at 4,002 million USD and increasing to 11,043 million USD by 2024. There are some fluctuations along the way; for instance, after peaking at 11,494 million USD in 2015, current assets dropped to 8,033 million USD in 2017 and remained relatively stable around 8,000 million USD through 2019. Subsequently, a strong recovery and growth occurred, reaching over 12,348 million USD in 2020, followed by minor declines and stabilization around the 11,000 million USD mark towards 2024.
- Total Assets
- Total assets also demonstrate consistent growth throughout the period, rising from 8,268 million USD in 2005 to 24,917 million USD in 2024. The increase is steady with notable jumps after 2014, where assets increased sharply from 13,168 million USD in 2014 to a peak of 17,989 million USD in 2015. Following this peak, the total assets dipped slightly but resumed growth from 17,757 million USD in 2017 to 24,917 million USD by 2024. This upward trajectory indicates expansion and accumulation of resources over the long term.
- Comparative Insights
- Both current assets and total assets have more than doubled over the 19-year period, highlighting significant growth in asset base. However, current assets show more volatility compared to the steadier advance seen in total assets. This may reflect changes in liquidity management, working capital needs, or operational efficiency variations during certain years. The sharper rise in total assets post-2014 suggests investments in longer-term assets or acquisitions.
- Overall Financial Position
- The trends suggest strengthening asset capacity and potential for increased operational scale, with the company managing to build a larger asset base. The fluctuations in current assets imply a dynamic management of liquid resources that may correspond to strategic shifts or external conditions. The increasing total assets and relatively stable current assets toward the end indicate improved balance sheet strength and possibly more stable working capital management.
Balance Sheet: Liabilities and Stockholders’ Equity
Sysco Corp., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Long-term debt, including current maturities | Shareholders’ equity | |
|---|---|---|---|---|
| Jun 29, 2024 | 9,241) | 23,026) | 11,982) | 1,860) |
| Jul 1, 2023 | 8,540) | 20,779) | 10,411) | 2,009) |
| Jul 2, 2022 | 8,750) | 20,671) | 10,648) | 1,382) |
| Jul 3, 2021 | 7,320) | 19,826) | 11,083) | 1,553) |
| Jun 27, 2020 | 6,718) | 21,435) | 14,447) | 1,159) |
| Jun 29, 2019 | 6,103) | 15,428) | 8,163) | 2,503) |
| Jun 30, 2018 | 6,589) | 15,526) | 8,327) | 2,507) |
| Jul 1, 2017 | 6,096) | 15,292) | 8,195) | 2,382) |
| Jul 2, 2016 | 4,434) | 13,167) | 7,435) | 3,480) |
| Jun 27, 2015 | 9,400) | 12,688) | 7,322) | 5,260) |
| Jun 28, 2014 | 4,368) | 7,901) | 2,760) | 5,267) |
| Jun 29, 2013 | 3,749) | 7,472) | 2,889) | 5,192) |
| Jun 30, 2012 | 3,424) | 7,410) | 3,018) | 4,685) |
| Jul 2, 2011 | 3,575) | 6,680) | 2,669) | 4,705) |
| Jul 3, 2010 | 3,009) | 6,486) | 2,481) | 3,828) |
| Jun 27, 2009 | 3,150) | 6,767) | 2,477) | 3,450) |
| Jun 28, 2008 | 3,499) | 6,673) | 1,980) | 3,409) |
| Jun 30, 2007 | 3,415) | 6,241) | 1,781) | 3,278) |
| Jul 1, 2006 | 3,226) | 5,940) | 1,763) | 3,052) |
| Jul 2, 2005 | 3,458) | 5,509) | 1,431) | 2,759) |
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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27), 10-K (reporting date: 2014-06-28), 10-K (reporting date: 2013-06-29), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-07-02), 10-K (reporting date: 2010-07-03), 10-K (reporting date: 2009-06-27), 10-K (reporting date: 2008-06-28), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-07-01), 10-K (reporting date: 2005-07-02).
- Current liabilities
- The current liabilities exhibited fluctuations over the analyzed period, starting at approximately 3.46 billion USD in 2005, declining slightly through 2010, then rising sharply to 9.4 billion USD in 2015. Following this peak, the amount decreased considerably in 2016 before experiencing another upward trend, reaching 9.24 billion USD by mid-2024. This indicates variability with notable spikes in certain years, suggesting changes in short-term obligations or working capital management.
- Total liabilities
- Total liabilities showed a generally increasing trend from 5.51 billion USD in 2005 to over 23 billion USD in 2024. There was steady growth with occasional accelerations, particularly evident around 2015 where liabilities rose sharply above 12 billion USD and continued to escalate, reflecting increased borrowing or obligations over time. This consistent increase points to an expanding financial leverage.
- Long-term debt, including current maturities
- Long-term debt rose steadily from 1.43 billion USD in 2005 to a significant peak of approximately 14.45 billion USD in 2020. After this peak, a reduction occurred through 2023, but it rose again to nearly 12 billion USD in 2024. This pattern implies substantial financing activities, possibly to support growth or acquisitions, accompanied by refinement in capital structure in the recent years.
- Shareholders’ equity
- Shareholders’ equity demonstrated an initial growth from 2.76 billion USD in 2005 to around 5.27 billion USD in 2010, maintaining stability through 2014. However, a significant decline began in 2015, dropping below 2.4 billion USD and further decreasing to roughly 1.16 billion USD by 2020. Some recovery is observed from 2021 onwards, with equity rising to approximately 2 billion USD by 2023, although slightly falling again in 2024. This decline followed by partial recovery suggests a period of financial stress or dividend distributions exceeding earnings, affecting the company’s net asset base.
Cash Flow Statement
Sysco Corp., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash used for investing activities | Net cash provided by (used for) financing activities |
|---|---|---|---|
| Jun 29, 2024 | 2,989) | (1,962) | (1,038) |
| Jul 1, 2023 | 2,868) | (785) | (2,056) |
| Jul 2, 2022 | 1,791) | (1,878) | (1,987) |
| Jul 3, 2021 | 1,904) | (429) | (4,628) |
| Jun 27, 2020 | 1,619) | (756) | 4,720) |
| Jun 29, 2019 | 2,411) | (743) | (1,837) |
| Jun 30, 2018 | 2,159) | (914) | (1,410) |
| Jul 1, 2017 | 2,176) | (3,584) | (1,620) |
| Jul 2, 2016 | 1,933) | (601) | (2,405) |
| Jun 27, 2015 | 1,555) | (654) | 3,898) |
| Jun 28, 2014 | 1,493) | (577) | (916) |
| Jun 29, 2013 | 1,512) | (912) | (874) |
| Jun 30, 2012 | 1,404) | (904) | (443) |
| Jul 2, 2011 | 1,092) | (680) | (378) |
| Jul 3, 2010 | 885) | (656) | (667) |
| Jun 27, 2009 | 1,582) | (659) | (380) |
| Jun 28, 2008 | 1,596) | (556) | (699) |
| Jun 30, 2007 | 1,403) | (649) | (748) |
| Jul 1, 2006 | 1,124) | (609) | (505) |
| Jul 2, 2005 | 1,192) | (413) | (784) |
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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27), 10-K (reporting date: 2014-06-28), 10-K (reporting date: 2013-06-29), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-07-02), 10-K (reporting date: 2010-07-03), 10-K (reporting date: 2009-06-27), 10-K (reporting date: 2008-06-28), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-07-01), 10-K (reporting date: 2005-07-02).
The analysis of the cash flow activities over the reported fiscal years reveals several notable trends and fluctuations in the company’s financial operations.
- Net Cash Provided by Operating Activities
- Operating cash flow generally exhibits an upward trend from fiscal 2005 through 2024. Initial values in 2005 totaled 1,192 million USD, with a gradual increase and some volatility leading to a peak of 2,989 million USD in 2024. Notably, there was a dip in 2010 to 885 million USD, followed by recovery and steady growth. Significant spikes occur in years such as 2016 (1,933 million USD), 2019 (2,411 million USD), and 2024 (2,989 million USD), indicative of improving operational efficiency or increased profitability during these periods.
- Net Cash Used for Investing Activities
- Investing activities consistently show negative cash flows, implying ongoing investments in assets or acquisitions. The outflows fluctuate between -413 million USD in 2005 and a more substantial -3,584 million USD in 2016, the latter suggesting significant capital expenditures or strategic investment in that year. While there is no clear upward or downward trend, periods of increased outflow (2016, 2022, and 2024) indicate aggressive investment phases. The most considerable outflows appear in these years, contrasting with relatively lower outflows such as -358 million USD in 2016. The variability highlights cycles of investment intensity over time.
- Net Cash Provided by (Used for) Financing Activities
- Financing cash flow demonstrates considerable volatility with both large inflows and outflows. Initial years show net cash used (negative values), for example, -784 million USD in 2005 and a pattern of predominantly negative cash flows through much of the series, indicating debt repayment, dividend payments, or share repurchases. Exceptions occur notably in 2015 and 2020, with large inflows of 3,898 million USD and 4,720 million USD respectively, suggesting capital raises or debt issuance. Following these peaks, significant outflows resume. The financing activities’ volatility suggests a reactive or opportunistic approach to capital structure management, adjusting financing sources to support the company’s operational and investment needs.
Overall, the company shows a healthy and generally improving capacity to generate cash from operations. Investments remain substantial and cyclical, presumably to support growth or modernization. Financing activities vary markedly, reflecting strategic decisions responding to cash requirements and market conditions. These patterns indicate active financial management aligned with operational performance and strategic investment.
Per Share Data
Sysco Corp., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Jun 29, 2024 | 3.90 | 3.89 | 2.01 |
| Jul 1, 2023 | 3.49 | 3.47 | 1.97 |
| Jul 2, 2022 | 2.66 | 2.64 | 1.90 |
| Jul 3, 2021 | 1.03 | 1.02 | 1.82 |
| Jun 27, 2020 | 0.42 | 0.42 | 1.74 |
| Jun 29, 2019 | 3.24 | 3.20 | 1.53 |
| Jun 30, 2018 | 2.74 | 2.70 | 1.41 |
| Jul 1, 2017 | 2.10 | 2.08 | 1.30 |
| Jul 2, 2016 | 1.66 | 1.64 | 1.23 |
| Jun 27, 2015 | 1.16 | 1.15 | 1.19 |
| Jun 28, 2014 | 1.59 | 1.58 | 1.15 |
| Jun 29, 2013 | 1.68 | 1.67 | 1.11 |
| Jun 30, 2012 | 1.91 | 1.90 | 1.07 |
| Jul 2, 2011 | 1.96 | 1.96 | 1.03 |
| Jul 3, 2010 | 1.99 | 1.99 | 0.99 |
| Jun 27, 2009 | 1.77 | 1.77 | 0.94 |
| Jun 28, 2008 | 1.83 | 1.81 | 0.85 |
| Jun 30, 2007 | 1.62 | 1.60 | 0.74 |
| Jul 1, 2006 | 1.38 | 1.36 | 0.66 |
| Jul 2, 2005 | 1.51 | 1.47 | 0.58 |
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), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27), 10-K (reporting date: 2014-06-28), 10-K (reporting date: 2013-06-29), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-07-02), 10-K (reporting date: 2010-07-03), 10-K (reporting date: 2009-06-27), 10-K (reporting date: 2008-06-28), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-07-01), 10-K (reporting date: 2005-07-02).
1, 2, 3 Data adjusted for splits and stock dividends.
- Earnings Per Share (Basic and Diluted)
- Both basic and diluted earnings per share exhibit a fluctuating yet overall upward trend over the period analyzed. The basic earnings per share started at $1.51 in 2005, moving unevenly with several periods of growth and decline. Notably, there is a decline evident around 2013 to 2015, where the basic EPS fell from $1.68 to $1.16, before resuming an upward trajectory in subsequent years. The lowest point is observed in 2020 with a significant drop to $0.42, likely reflecting an extraordinary event impacting earnings. Following this downturn, EPS steadily recovered, reaching a high of $3.90 in 2024. The diluted earnings per share mirror these trends closely, starting at $1.47 in 2005 and showing similar patterns of decline and recovery, ending at $3.89 in 2024. This alignment indicates consistent dilution effects over time.
- Dividend per Share
- Dividends per share demonstrate a consistent upward trend throughout the entire period. Starting at $0.58 in 2005, dividends increase steadily each year without any observed reductions, reaching $2.01 by 2024. This suggests a strong and stable commitment to returning value to shareholders via dividend payments. The growth in dividends is gradual but persistent, indicating improving or stable cash flow and financial health allowing for regular dividend hikes.
- Overall Financial Performance Insights
- The overall pattern shows resilience and recovery after periods of earnings decline, particularly noticeable in the sharp EPS drop in 2020, possibly related to external economic disruptions. The steady increase in dividends despite earnings volatility indicates a focus on shareholder returns and confidence in future profitability. The recovery and growth in earnings per share after 2020 suggest an improving operating environment or successful strategic adjustments by the company.