Sysco
SYY NYSE Food Distributors Financials FY2017–FY2026
Sysco's revenue rose 3.9% to $84.6 billion in fiscal 2026. Its operating margin was 3.7%, down from 3.8% a year earlier. Free cash flow was $1.9 billion, up 20.8%. It paid out $1.2 billion in dividends and buybacks, 64% of free cash flow. The diluted share count fell 1.9%.
What Sysco does
Sysco sells, markets and distributes food and related products to customers who prepare meals away from home. These include restaurants, hospitals and other healthcare facilities, schools, hotels, caterers and entertainment venues. Its main operations are in North America and Europe. Its annual sales were $84.6 billion in fiscal 2026, which it calls an all-time high.
Sysco makes its money by selling and delivering goods to these customers. It reports three segments. U.S. Foodservice Operations covers its U.S. broadline distribution, which carries a full line of food and non-food products, and specialty businesses such as fresh produce, meat and seafood, Italian foods and restaurant equipment. International Foodservice Operations covers distribution outside the U.S., including Canada, the United Kingdom, France, Ireland and Sweden. SYGMA serves quick-service restaurant chains. A small group called Other includes its hotel supply business.
On March 30, 2026, Sysco agreed to buy Jetro Restaurant Depot, a wholesale cash-and-carry supplier to smaller independent restaurants, with 167 warehouse stores in 35 states. Sysco agreed to pay about $29.1 billion in cash and shares. The deal needs regulatory clearance and other conditions before it can close, and Sysco expects it to close by the third quarter of fiscal 2027.
- Legal name
- Sysco Corporation
- Fiscal year ends
- June 27, 2026
- Latest annual report
- 10-K · Aug 21, 2026
- Accession · CIK
- 0000096021-26-000033
0000096021
Revenue and margins
Sysco had $84.6B of revenue in fiscal 2026, up 3.9% on the year before.
Net income and earnings per share
From fiscal 2017 to 2026, diluted EPS grew 6.5% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $1.9B in fiscal 2026, 2.3% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Sysco returned $1.2B to shareholders in fiscal 2026, 64% of free cash flow. The diluted share count fell 1.9%.
Value Sysco yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$11.7B and divides by 480.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 22.2x · peers 36.2x · sector 24.7x.
Balance sheet
Cash, debt and the ratios that show how comfortably Sysco can carry it.
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $873M | $757M | $720M | $1.1B | $1.8B |
| Debt incl. finance leases | $10.6B | $10.4B | $12.0B | $13.3B | $13.5B |
| Net debt / EBITDA | 3.1x | 2.5x | 2.8x | 3.0x | 2.9x |
| Debt / equity | 7.7x | 5.2x | 6.4x | 7.3x | 5.1x |
| Interest coverage | 4.7x | 6.0x | 5.8x | 4.9x | 4.6x |
| Current ratio | 1.2x | 1.2x | 1.2x | 1.2x | 1.3x |
| Quick ratio | 0.7x | 0.7x | 0.7x | 0.7x | 0.8x |
| Total assets | $22.1B | $22.8B | $24.9B | $26.8B | $28.4B |
| Total liabilities | $20.7B | $20.8B | $23.1B | $24.9B | $25.7B |
| Shareholders' equity | $1.4B | $2.0B | $1.9B | $1.8B | $2.7B |
| Net debt (− = net cash) | $9.8B | $9.7B | $11.3B | $12.2B | $11.7B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$1.0M
1 insider
Sold, 12 months
$2.0M
2 insiders
Of sales under plans
88%
$1.8M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 14, 2026 | Ronald L PhillipsEVP and CHRO | Sold plan | 57 | $84.32 | $0.0M | Form 4 |
| Sep 11, 2026 | Ronald L PhillipsEVP and CHRO | Sold plan | 960 | $83.00 | $0.1M | Form 4 |
| Aug 24, 2026 | Ronald L PhillipsEVP and CHRO | Sold plan | 506 | $84.09 | $0.0M | Form 4 |
| Aug 21, 2026 | Ronald L PhillipsEVP and CHRO | Sold plan | 7,350 | $83.61 | $0.6M | Form 4 |
| Aug 11, 2026 | Ronald L PhillipsEVP and CHRO | Sold plan | 367 | $83.39 | $0.0M | Form 4 |
| Aug 10, 2026 | Ronald L PhillipsEVP and CHRO | Sold plan | 6,285 | $83.94 | $0.5M | Form 4 |
| May 26, 2026 | John M HinshawDirector | Bought | 13,304 | $75.17 | $1.0M | Form 4 |
| Feb 2, 2026 | Sheila TaltonDirector | Sold | 2,801 | $82.99 | $0.2M | Form 4 |
| Jan 27, 2026 | Ronald L PhillipsEVP and CHRO | Sold plan | 5,601 | $81.00 | $0.5M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 | FY26 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✕ | ✕ | ✓ |
| Current ratio rose | ✕ | ✓ | ✓ |
| Share count didn't rise | ✓ | ✓ | ✓ |
| Gross margin rose | ✓ | ✕ | ✓ |
| Revenue rose relative to assets | ✕ | ✕ | ✕ |
| F-score | 6 / 9 | 5 / 9 | 7 / 9 |
| Accruals ratio | −4.3% | −2.6% | −3.2% |
| Altman Z'' | — | — | — |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Sysco SYY | $39.1B | 3.9% | 3.7% | 2.3% | 16.8% | 22.2x | 7 | |
| Performance Food Group PFGC | $14.9B | 7.2% | 1.3% | 1.5% | 5.7% | 41.4x | 5 | Compare → |
| US Foods USFD | $22.3B | 4.1% | 3.0% | 2.4% | 9.6% | 31.1x | 7 | Compare → |
| Andersons ANDE | $2.2B | −2.2% | — | −0.5% | 9.3% | 23.3x | 5 | Compare → |
| Chefs' Warehouse CHEF | $4.9B | 9.4% | 3.5% | 2.1% | 8.5% | 57.9x | 8 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $55.4B | $58.7B | $60.1B | $52.9B | $51.3B | $68.6B | $76.3B | $78.8B | $81.4B | $84.6B |
| Gross profit | $10.6B | $11.1B | $11.4B | $9.9B | $9.4B | $12.3B | $14.0B | $14.6B | $15.0B | $15.6B |
| Operating income | $2.1B | $2.3B | $2.3B | $750M | $1.4B | $2.3B | $3.0B | $3.2B | $3.1B | $3.1B |
| Interest expense | $285M | $302M | $347M | $325M | $878M | $498M | $511M | $557M | $629M | $670M |
| Pretax income | $1.8B | $2.0B | $2.0B | $293M | $585M | $1.7B | $2.3B | $2.6B | $2.4B | $2.3B |
| Income tax | $624M | $526M | $332M | $77.9M | $60.5M | $388M | $515M | $610M | $587M | $519M |
| Net income | $1.1B | $1.4B | $1.7B | $216M | $524M | $1.4B | $1.8B | $2.0B | $1.8B | $1.8B |
| Diluted EPS | $2.08 | $2.70 | $3.20 | $0.42 | $1.02 | $2.64 | $3.47 | $3.89 | $3.73 | $3.66 |
| Diluted shares | 0.55B | 0.53B | 0.52B | 0.51B | 0.51B | 0.51B | 0.51B | 0.50B | 0.49B | 0.48B |
| Cash flow | ||||||||||
| Cash from operations | $2.2B | $2.2B | $2.4B | $1.6B | $1.9B | $1.8B | $2.9B | $3.0B | $2.5B | $2.6B |
| Capital expenditure | $686M | $688M | $692M | $720M | $471M | $633M | $793M | $832M | $906M | $700M |
| Free cash flow | $1.5B | $1.5B | $1.7B | $898M | $1.4B | $1.2B | $2.1B | $2.2B | $1.6B | $1.9B |
| Depreciation and amortization | $902M | $766M | $764M | $806M | $738M | $773M | $776M | $873M | $945M | $976M |
| Stock-based compensation | $83.9M | $93.8M | $105M | $42.2M | $95.8M | $122M | $96.0M | $104M | $93.0M | $118M |
| Acquisitions | $2.9B | $248M | $107M | $143M | $0.0M | $1.3B | $37.0M | $1.2B | $40.0M | $189M |
| Share buybacks | $1.9B | $979M | $1.0B | $845M | $0.0M | $500M | $500M | $1.2B | $1.3B | $200M |
| Dividends paid | $699M | $722M | $775M | $856M | $918M | $959M | $996M | $1.0B | $1.0B | $1.0B |
| Dividends and buybacks | $2.6B | $1.7B | $1.8B | $1.7B | $918M | $1.5B | $1.5B | $2.2B | $2.3B | $1.2B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $870M | $552M | $514M | $6.1B | $3.0B | $873M | $757M | $720M | $1.1B | $1.8B |
| Total debt | $8.2B | $8.3B | $8.1B | $12.9B | $10.6B | $10.6B | $10.4B | $12.0B | $13.3B | $13.5B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $103M | $79.2M | $226M | $298M | $361M | $452M | $393M |
| Current assets | $8.0B | $8.0B | $8.1B | $12.3B | $10.7B | $10.5B | $10.6B | $11.0B | $12.0B | $13.4B |
| Current liabilities | $6.1B | $6.6B | $6.1B | $6.7B | $7.3B | $8.8B | $8.5B | $9.2B | $9.9B | $10.5B |
| Inventory | $3.0B | $3.1B | $3.2B | $3.1B | $3.7B | $4.4B | $4.5B | $4.7B | $5.1B | $5.3B |
| Property and equipment, net | $4.4B | $4.5B | $4.5B | $4.5B | $4.3B | $4.5B | $4.9B | $5.5B | $6.1B | $6.0B |
| Total assets | $17.8B | $18.1B | $18.0B | $22.6B | $21.4B | $22.1B | $22.8B | $24.9B | $26.8B | $28.4B |
| Total liabilities | $15.4B | $15.6B | $15.5B | $21.5B | $19.9B | $20.7B | $20.8B | $23.1B | $24.9B | $25.7B |
| Shareholders' equity | $2.4B | $2.5B | $2.5B | $1.2B | $1.6B | $1.4B | $2.0B | $1.9B | $1.8B | $2.7B |
| Margins | ||||||||||
| Gross margin | 19.1% | 18.9% | 19.0% | 18.7% | 18.2% | 18.0% | 18.3% | 18.5% | 18.4% | 18.5% |
| Operating margin | 3.7% | 3.9% | 3.9% | 1.4% | 2.8% | 3.4% | 4.0% | 4.1% | 3.8% | 3.7% |
| EBITDA margin | 5.3% | 5.2% | 5.2% | 2.9% | 4.3% | 4.5% | 5.0% | 5.2% | 5.0% | 4.8% |
| Net margin | 2.1% | 2.4% | 2.8% | 0.4% | 1.0% | 2.0% | 2.3% | 2.5% | 2.3% | 2.1% |
| FCF margin | 2.8% | 2.5% | 2.9% | 1.7% | 2.8% | 1.7% | 2.7% | 2.7% | 2.0% | 2.3% |
| Returns | ||||||||||
| Return on capital | 15.9% | 16.9% | 19.1% | 6.0% | 15.0% | 17.9% | 20.6% | 19.7% | 17.2% | 16.8% |
| Return on capital employed | 17.2% | 20.0% | 20.0% | 5.4% | 9.7% | 17.1% | 22.0% | 21.4% | 19.0% | 17.8% |
| Return on equity | 39.0% | 58.5% | 66.8% | 11.8% | 38.7% | 92.6% | 104.4% | 101.1% | 99.1% | 78.2% |
| Return on assets | 6.6% | 8.0% | 9.3% | 1.1% | 2.4% | 6.3% | 7.9% | 8.2% | 7.1% | 6.4% |
| Growth | ||||||||||
| Revenue growth | 9.9% | 6.1% | 2.4% | −12.0% | −3.0% | 33.8% | 11.2% | 3.3% | 3.2% | 3.9% |
| Net income growth | 20.3% | 25.2% | 17.0% | −87.1% | 143.3% | 159.3% | 30.2% | 10.5% | −6.5% | −3.9% |
| EPS growth | 26.8% | 29.8% | 18.5% | −86.9% | 142.9% | 158.8% | 31.4% | 12.1% | −4.1% | −1.9% |
| FCF growth | 5.8% | −5.1% | 17.1% | −47.7% | 59.6% | −19.2% | 79.2% | 4.0% | −25.6% | 20.8% |
| Share count change | −5.0% | −3.6% | −1.1% | −1.8% | −0.1% | 0.1% | −0.8% | −1.3% | −2.6% | −1.9% |
| Financial health | ||||||||||
| Net debt / EBITDA | 2.5x | 2.5x | 2.5x | 4.5x | 3.5x | 3.1x | 2.5x | 2.8x | 3.0x | 2.9x |
| Debt / equity | 3.4x | 3.3x | 3.3x | 11.2x | 6.9x | 7.7x | 5.2x | 6.4x | 7.3x | 5.1x |
| Interest coverage | 7.2x | 7.7x | 6.7x | 2.3x | 1.7x | 4.7x | 6.0x | 5.8x | 4.9x | 4.6x |
| Current ratio | 1.3x | 1.2x | 1.3x | 1.8x | 1.5x | 1.2x | 1.2x | 1.2x | 1.2x | 1.3x |
| Quick ratio | 0.8x | 0.7x | 0.8x | 1.4x | 1.0x | 0.7x | 0.7x | 0.7x | 0.7x | 0.8x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.2% | 1.2% | 1.2% | 1.4% | 0.9% | 0.9% | 1.0% | 1.1% | 1.1% | 0.8% |
| Stock comp / revenue | 0.2% | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% |
| Payouts / FCF | 167.2% | 115.9% | 104.6% | 189.4% | 64.0% | 126.0% | 72.1% | 103.9% | 140.3% | 63.8% |
| Quality scores | ||||||||||
| Piotroski F-score | 7.0 | 6.0 | 9.0 | 5.0 | 6.0 | 5.0 | 9.0 | 6.0 | 5.0 | 7.0 |
| Accruals ratio | −6.3% | −4.1% | −4.1% | −6.9% | −6.3% | −2.0% | −4.9% | −4.3% | −2.6% | −3.2% |
Source: SEC EDGAR XBRL filings (CIK 0000096021). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.