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Sysco (SYY) FY2025 results: revenue $81.4 billion, up 3.2% on the year

Sysco Corp. (SYY) reported revenue of $81.4 billion for fiscal 2025, the year ended 28 June 2025, up 3.2% on the year before. Net income was $1.8 billion, down 6.5%, and diluted earnings per share $3.73. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2025.

Revenue
$81.4 billion
+3.2% on the year
FY2018FY2025
Operating margin
3.8%
4.1% a year earlier
FY2018FY2025
Net income
$1.8 billion
-6.5% on the year
FY2018FY2025
Diluted EPS
$3.73
-4.1% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue81,37078,84476,325+3.2%
Cost of revenue66,40164,23662,370+3.4%
Gross profit14,96914,60813,955+2.5%
Gross margin18.4%18.5%18.3%
Operating income3,0883,2023,039-3.6%
Operating margin3.8%4.1%4.0%
Interest expense635607527+4.6%
Pre-tax income2,4152,5652,285-5.8%
Income tax587610515-3.8%
Effective tax rate24.3%23.8%22.5%
Net income1,8281,9551,770-6.5%
Net margin2.2%2.5%2.3%
Diluted EPS$3.73$3.89$3.47-4.1%
$ 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

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow2,5102,9892,868-16.0%
Capital expenditure906832793+8.9%
Free cash flow1,6042,1572,074-25.6%
Free cash flow margin2.0%2.7%2.7%
Cash from investing-717-1,962-785
Cash from financing-1,412-1,038-2,056
Depreciation and amortisation945873776+8.2%
Share-based compensation93.010496.0-10.6%
Buybacks1,2501,232500+1.5%
Dividends paid1,0001,008996-0.8%
Dividend per share$2.07$2.01$1.97+3.0%
Diluted shares, weighted490m503m510m-2.6%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity1,8301,8602,009-1.6%
Redeemable equity27.031.033.0-12.9%
Debt13,30911,98210,411+11.1%
Operating lease liabilities1,049838656+25.2%
Finance lease liabilities387307260+26.1%
Other liabilities10,1729,8999,452+2.8%
Total liabilities and equity26,77424,91722,821+7.5%
Fixed assets6,0845,4974,915+10.7%
Goodwill5,2315,1534,646+1.5%
Intangible assets1,0801,188860-9.1%
Investments132126120+4.8%
Cash and equivalents1,071696745+53.9%
Other assets13,17612,25711,536+7.5%
Total assets26,77424,91722,821+7.5%

10-K for the year ended 28 June 2025, filed 22 August 2025: the filing.