Sysco (SYY) FY2013 results: revenue $44.4 billion, up 4.8% on the year
Sysco Corp. (SYY) reported revenue of $44.4 billion for fiscal 2013, the year ended 29 June 2013, up 4.8% on the year before. Net income was $992 million, down 11.5%, and diluted earnings per share $1.67. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2013.
Revenue
$44.4 billion
+4.8% on the year
FY2008FY2013
Operating margin
3.7%
4.5% a year earlier
FY2008FY2013
Net income
$992 million
-11.5% on the year
FY2008FY2013
Diluted EPS
$1.67
-12.1% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
44,411
42,381
39,323
+4.8%
Gross profit
7,997
7,779
7,395
+2.8%
Gross margin
18.0%
18.4%
18.8%
Operating income
1,658
1,891
1,932
-12.3%
Operating margin
3.7%
4.5%
4.9%
Interest expense
128
113
118
+13.3%
Pre-tax income
1,547
1,784
1,827
-13.3%
Income tax
555
662
675
-16.2%
Effective tax rate
35.9%
37.1%
37.0%
Net income
992
1,122
1,152
-11.5%
Net margin
2.2%
2.6%
2.9%
Diluted EPS
$1.67
$1.90
$1.96
-12.1%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,512
1,404
1,092
+7.6%
Capital expenditure
512
785
636
-34.8%
Free cash flow
1,000
620
455
+61.3%
Free cash flow margin
2.3%
1.5%
1.2%
Cash from investing
n/a
-904
-680
Cash from financing
n/a
-443
-378
Depreciation and amortisation
513
417
403
+22.9%
Share-based compensation
70.1
70.3
59.2
-0.2%
Buybacks
722
272
292
+165.0%
Dividends paid
648
623
597
+4.1%
Dividend per share
$1.11
$1.07
$1.03
+3.7%
Diluted shares, weighted
593m
589m
589m
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
5,192
4,685
4,705
+10.8%
Debt
2,889
3,018
2,669
-4.3%
Other liabilities
4,583
4,434
4,053
+3.4%
Total liabilities and equity
12,664
12,137
11,427
+4.3%
Fixed assets
3,978
3,884
3,512
+2.4%
Goodwill
1,884
1,666
1,633
+13.1%
Intangible assets
206
114
110
+81.1%
Investments
n/a
n/a
0.0
Cash and equivalents
412
689
640
-40.2%
Receivables
n/a
n/a
2,898
Inventory
n/a
n/a
2,074
Other assets
6,184
5,785
560
+6.9%
Total assets
12,664
12,137
11,427
+4.3%
10-K for the year ended 29 June 2013, filed 27 August 2013: the filing.