Sysco (SYY) FY2014 results: revenue $46.5 billion, up 4.7% on the year
Sysco Corp. (SYY) reported revenue of $46.5 billion for fiscal 2014, the year ended 28 June 2014, up 4.7% on the year before. Net income was $932 million, down 6.1%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2014.
Revenue
$46.5 billion
+4.7% on the year
FY2008FY2014
Operating margin
3.4%
3.7% a year earlier
FY2008FY2014
Net income
$932 million
-6.1% on the year
FY2008FY2014
Diluted EPS
$1.58
-5.4% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
46,517
44,411
42,381
+4.7%
Gross profit
8,181
7,997
7,779
+2.3%
Gross margin
17.6%
18.0%
18.4%
Operating income
1,587
1,658
1,891
-4.3%
Operating margin
3.4%
3.7%
4.5%
Interest expense
n/a
128
113
Pre-tax income
1,476
1,547
1,784
-4.6%
Income tax
544
555
662
-2.0%
Effective tax rate
36.9%
35.9%
37.1%
Net income
932
992
1,122
-6.1%
Net margin
2.0%
2.2%
2.6%
Diluted EPS
$1.58
$1.67
$1.90
-5.4%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,493
1,512
1,404
-1.2%
Capital expenditure
523
512
785
+2.2%
Free cash flow
970
1,000
620
-3.0%
Free cash flow margin
2.1%
2.3%
1.5%
Cash from investing
n/a
n/a
-904
Cash from financing
n/a
n/a
-443
Depreciation and amortisation
556
513
417
+8.5%
Share-based compensation
74.3
70.1
70.3
+6.0%
Buybacks
332
722
272
-53.9%
Dividends paid
667
648
623
+2.9%
Dividend per share
$1.15
$1.11
$1.07
+3.6%
Diluted shares, weighted
590m
593m
589m
-0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
5,267
5,192
4,685
+1.4%
Redeemable equity
0.0
n/a
n/a
Debt
2,733
2,889
3,018
-5.4%
Other liabilities
5,141
4,583
4,434
+12.2%
Total liabilities and equity
13,141
12,664
12,137
+3.8%
Fixed assets
3,986
3,978
3,884
+0.2%
Goodwill
1,951
1,884
1,666
+3.5%
Intangible assets
177
206
114
-13.8%
Cash and equivalents
413
412
689
+0.2%
Other assets
6,615
6,184
5,785
+7.0%
Total assets
13,141
12,664
12,137
+3.8%
10-K for the year ended 28 June 2014, filed 26 August 2014: the filing.