Sysco (SYY) FY2016 results: revenue $50.4 billion, up 3.5% on the year
Sysco Corp. (SYY) reported revenue of $50.4 billion for fiscal 2016, the year ended 2 July 2016, up 3.5% on the year before. Net income was $950 million, up 38.3%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 30 August 2016.
Revenue
$50.4 billion
+3.5% on the year
FY2009FY2016
Operating margin
3.7%
2.5% a year earlier
FY2009FY2016
Net income
$950 million
+38.3% on the year
FY2009FY2016
Diluted EPS
$1.64
+42.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
50,367
48,681
46,517
+3.5%
Gross profit
9,040
8,552
8,181
+5.7%
Gross margin
17.9%
17.6%
17.6%
Operating income
1,850
1,229
1,587
+50.5%
Operating margin
3.7%
2.5%
3.4%
Pre-tax income
1,433
1,008
1,476
+42.1%
Income tax
483
321
544
+50.4%
Effective tax rate
33.7%
31.9%
36.9%
Net income
950
687
932
+38.3%
Net margin
1.9%
1.4%
2.0%
Diluted EPS
$1.64
$1.15
$1.58
+42.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,988
1,555
1,493
+27.8%
Capital expenditure
527
543
523
-2.9%
Free cash flow
1,461
1,013
970
+44.3%
Free cash flow margin
2.9%
2.1%
2.1%
Cash from investing
-769
-654
n/a
Cash from financing
-2,460
3,898
n/a
Depreciation and amortisation
663
553
556
+19.8%
Share-based compensation
79.5
73.8
74.3
+7.7%
Buybacks
1,949
0.0
332
Dividends paid
699
695
667
+0.5%
Dividend per share
$1.23
$1.19
$1.15
+3.4%
Diluted shares, weighted
577m
597m
590m
-3.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,480
5,260
5,267
-33.9%
Redeemable equity
75.4
41.3
0.0
+82.5%
Debt
7,435
7,322
2,733
+1.6%
Other liabilities
5,731
5,366
5,141
+6.8%
Total liabilities and equity
16,722
17,989
13,141
-7.0%
Fixed assets
3,880
3,982
3,986
-2.6%
Goodwill
2,122
1,960
1,951
+8.3%
Intangible assets
207
155
177
+34.0%
Cash and equivalents
3,919
5,298
413
-26.0%
Other assets
6,593
6,594
6,615
-0.0%
Total assets
16,722
17,989
13,141
-7.0%
10-K for the year ended 2 July 2016, filed 30 August 2016: the filing.