Sysco (SYY) FY2019 results: revenue $60.1 billion, up 2.4% on the year
Sysco Corp. (SYY) reported revenue of $60.1 billion for fiscal 2019, the year ended 29 June 2019, up 2.4% on the year before. Net income was $1.7 billion, up 17.0%, and diluted earnings per share $3.20. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2019.
Revenue
$60.1 billion
+2.4% on the year
FY2012FY2019
Operating margin
3.9%
3.9% a year earlier
FY2012FY2019
Net income
$1.7 billion
+17.0% on the year
FY2012FY2019
Diluted EPS
$3.20
+18.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
60,114
58,727
55,371
+2.4%
Cost of revenue
48,705
47,642
44,814
+2.2%
Gross profit
11,409
11,085
10,558
+2.9%
Gross margin
19.0%
18.9%
19.1%
Operating income
2,330
2,314
2,053
+0.7%
Operating margin
3.9%
3.9%
3.7%
Pre-tax income
2,006
1,956
1,766
+2.5%
Income tax
332
525
624
-36.9%
Effective tax rate
16.5%
26.9%
35.3%
Net income
1,674
1,431
1,143
+17.0%
Net margin
2.8%
2.4%
2.1%
Diluted EPS
$3.20
$2.70
$2.08
+18.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,411
2,159
2,233
+11.7%
Capital expenditure
692
688
686
+0.7%
Free cash flow
1,719
1,471
1,546
+16.9%
Free cash flow margin
2.9%
2.5%
2.8%
Cash from investing
-743
-910
-3,584
Cash from financing
-1,837
-1,410
-1,683
Depreciation and amortisation
764
765
902
-0.2%
Share-based compensation
105
93.8
83.9
+11.8%
Buybacks
1,022
979
1,886
+4.4%
Dividends paid
775
722
699
+7.4%
Dividend per share
$1.53
$1.41
$1.30
+8.5%
Diluted shares, weighted
523m
529m
549m
-1.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,503
2,507
2,382
-0.2%
Redeemable equity
35.4
37.6
82.8
-5.9%
Debt
8,163
8,327
8,195
-2.0%
Other liabilities
7,265
7,199
7,097
+0.9%
Total liabilities and equity
17,967
18,070
17,757
-0.6%
Fixed assets
4,502
4,522
4,377
-0.4%
Goodwill
3,896
3,955
3,916
-1.5%
Intangible assets
857
980
1,038
-12.5%
Securities held for sale or to maturity
120
n/a
n/a
Cash and equivalents
513
552
870
-7.0%
Other assets
8,078
8,061
7,556
+0.2%
Total assets
17,967
18,070
17,757
-0.6%
10-K for the year ended 29 June 2019, filed 26 August 2019: the filing.