Sysco (SYY) FY2011 results: revenue $39.3 billion, up 5.6% on the year
Sysco Corp. (SYY) reported revenue of $39.3 billion for fiscal 2011, the year ended 2 July 2011, up 5.6% on the year before. Net income was $1.2 billion, down 2.4%, and diluted earnings per share $1.96. The figures are the company's own, from the 10-K it filed with the SEC on 30 August 2011.
Revenue
$39.3 billion
+5.6% on the year
FY2008FY2011
Operating margin
4.9%
5.3% a year earlier
FY2008FY2011
Net income
$1.2 billion
-2.4% on the year
FY2008FY2011
Diluted EPS
$1.96
-1.5% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
39,323
37,243
36,853
+5.6%
Cost of revenue
n/a
30,136
29,817
Gross profit
7,395
7,188
7,110
+2.9%
Gross margin
18.8%
19.3%
19.3%
Operating income
1,932
1,976
1,872
-2.2%
Operating margin
4.9%
5.3%
5.1%
Interest expense
118
125
116
-5.7%
Pre-tax income
1,827
1,850
1,771
-1.2%
Income tax
675
670
715
+0.9%
Effective tax rate
37.0%
36.2%
40.4%
Net income
1,152
1,180
1,056
-2.4%
Net margin
2.9%
3.2%
2.9%
Diluted EPS
$1.96
$1.99
$1.77
-1.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,092
885
1,577
+23.3%
Capital expenditure
636
595
465
+7.0%
Free cash flow
455
291
1,112
+56.5%
Free cash flow margin
1.2%
0.8%
3.0%
Cash from investing
-680
-656
-659
Cash from financing
-378
-667
-380
Depreciation and amortisation
403
390
382
+3.2%
Share-based compensation
59.2
66.4
56.0
-10.7%
Buybacks
292
179
439
+62.7%
Dividends paid
597
580
548
+3.0%
Dividend per share
$1.03
$0.99
$0.94
+4.0%
Diluted shares, weighted
589m
594m
596m
-0.8%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
4,705
3,828
3,450
+22.9%
Short-term borrowings
n/a
0.0
n/a
Debt
2,669
2,473
2,467
+7.9%
Other liabilities
4,053
4,014
4,231
+1.0%
Total liabilities and equity
11,427
10,314
10,148
+10.8%
Fixed assets
3,512
3,204
2,979
+9.6%
Goodwill
1,633
1,550
1,511
+5.4%
Intangible assets
110
106
121
+3.3%
Investments
0.0
23.5
0.0
Cash and equivalents
640
585
1,019
+9.3%
Receivables
2,898
2,617
2,469
+10.7%
Inventory
2,074
1,772
1,651
+17.1%
Other assets
560
456
399
+22.8%
Total assets
11,427
10,314
10,148
+10.8%
10-K for the year ended 2 July 2011, filed 30 August 2011: the filing.