Sysco (SYY) FY2023 results: revenue $76.3 billion, up 11.2% on the year
Sysco Corp. (SYY) reported revenue of $76.3 billion for fiscal 2023, the year ended 1 July 2023, up 11.2% on the year before. Net income was $1.8 billion, up 30.3%, and diluted earnings per share $3.47. The figures are the company's own, from the 10-K it filed with the SEC on 25 August 2023.
Revenue
$76.3 billion
+11.2% on the year
FY2016FY2023
Operating margin
4.0%
3.4% a year earlier
FY2016FY2023
Net income
$1.8 billion
+30.3% on the year
FY2016FY2023
Diluted EPS
$3.47
+31.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,868
1,791
1,904
+60.1%
Capital expenditure
793
633
471
+25.4%
Free cash flow
2,074
1,158
1,433
+79.1%
Free cash flow margin
2.7%
1.7%
2.8%
Cash from investing
-785
-1,878
-429
Cash from financing
-2,056
-1,987
-4,628
Depreciation and amortisation
776
773
738
+0.4%
Share-based compensation
96.0
122
95.8
-21.3%
Buybacks
500
500
0.0
+0.1%
Dividends paid
996
959
918
+3.9%
Dividend per share
$1.97
$1.90
$1.82
+3.7%
Diluted shares, weighted
510m
514m
514m
-0.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,009
1,382
1,553
+45.3%
Redeemable equity
33.0
31.9
34.6
+3.3%
Debt
10,411
10,648
11,083
-2.2%
Operating lease liabilities
656
636
634
+3.1%
Finance lease liabilities
260
187
51.3
+38.8%
Other liabilities
9,452
9,200
8,057
+2.7%
Total liabilities and equity
22,821
22,086
21,414
+3.3%
Fixed assets
4,915
4,456
4,326
+10.3%
Goodwill
4,646
4,542
3,944
+2.3%
Intangible assets
860
953
746
-9.8%
Investments
120
120
n/a
-0.0%
Securities held for sale or to maturity
n/a
n/a
130
Cash and equivalents
745
867
3,007
-14.1%
Other assets
11,536
11,147
9,260
+3.5%
Total assets
22,821
22,086
21,414
+3.3%
10-K for the year ended 1 July 2023, filed 25 August 2023: the filing.