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Unless this Form 10-K indicates otherwise or the context otherwise requires, the terms we, our, us, Sysco, or the company as used in this Form 10-K refer to Sysco Corporation together with its consolidated subsidiaries and divisions. Overview Sysco Corporation, acting through its subsidiaries and divisions, is the largest global distributor of food and related products primarily to the foodserv…
Operating margin is thin at 3.80%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 3.2%, steady but not accelerating. Free cash flow declined 26% despite revenue growth, conversion is weakening.
Free cash flow declined 26% versus the prior year, cash generation momentum has weakened. ROIC dropped from 18.10% to 15.66%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$83.17B
▲ +3.2% YoY
Net Income (TTM)
$1.73B
▼ -6.5% YoY
Op. Margin
3.58%
▼ -0.3pp YoY
ROIC
14.44%
▼ -2.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.96B
▼ -25.6% YoY
Op. Cash Flow (TTM)
$2.88B
▼ -16.0% YoY
Net Debt
$13.46B
Cash & Equiv.
$1.92B
5Y CAGR: +9.0%
5Y CAGR: +12.3%
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