Stock Analysis on Net
Stock Analysis on Net

Sysco Corp. (NYSE:SYY)

This company has been moved to the archive! The financial data has not been updated since August 28, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Sysco Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Jan 1, 2022 Oct 2, 2021 Jul 3, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018
Accounts payable 25.24 23.75 23.19 24.91 26.40 26.00 24.54 27.10 26.05 25.63 23.42 23.70 22.81 19.15 15.81 17.74 15.23 19.43 21.47 22.41 24.01 23.59 23.25 22.75
Accrued expenses 8.93 9.09 9.16 9.35 9.86 9.41 9.64 9.81 10.28 9.01 9.24 8.19 8.48 7.46 7.47 7.47 7.14 8.42 8.71 8.42 9.63 9.14 9.47 8.10
Accrued income taxes 0.53 0.14 0.19 0.78 0.45 0.55 0.15 0.51 0.18 0.09 0.02 0.38 0.11 0.29 0.00 0.00 0.01 0.00 0.97 0.51 0.10 0.00 0.03 0.72
Current operating lease liabilities 0.50 0.50 0.48 0.47 0.43 0.42 0.47 0.42 0.48 0.51 0.44 0.48 0.48 0.51 0.48 0.48 0.47 0.50 0.54 0.54 0.00 0.00 0.00 0.00
Current maturities of long-term debt 1.88 0.38 0.34 0.81 0.27 3.19 3.18 2.50 2.63 2.27 2.31 2.26 2.31 4.38 6.11 5.83 6.83 4.07 4.10 0.30 0.23 2.98 4.35 4.25
Current liabilities 37.09% 33.85% 33.36% 36.33% 37.42% 39.56% 37.98% 40.34% 39.62% 37.50% 35.44% 35.01% 34.18% 31.79% 29.86% 31.52% 29.69% 32.42% 35.78% 32.19% 33.97% 35.71% 37.10% 35.82%
Long-term debt, excluding current maturities 46.21 49.02 48.62 45.99 45.34 45.19 46.86 46.21 45.58 47.52 49.44 48.16 49.45 53.26 55.42 54.63 57.02 49.06 41.78 45.57 45.21 44.69 44.08 42.68
Deferred income taxes 1.38 1.27 1.23 1.29 1.33 0.94 1.05 1.09 1.13 0.88 0.75 0.78 0.69 0.22 0.21 0.24 0.38 0.63 0.73 0.94 0.96 1.21 1.28 1.49
Long-term operating lease liabilities 3.36 3.20 2.98 2.99 2.88 2.79 2.87 2.83 2.88 3.14 3.08 3.04 2.96 2.66 2.51 2.40 2.31 2.66 2.90 2.88 0.00 0.00 0.00 0.00
Other long-term liabilities 4.37 4.03 3.96 4.12 4.08 4.44 4.58 4.37 4.38 4.88 5.44 5.28 5.31 5.57 5.50 5.35 5.32 5.15 5.58 5.30 5.74 5.22 5.43 5.58
Long-term liabilities 55.32% 57.51% 56.78% 54.39% 53.63% 53.36% 55.37% 54.50% 53.98% 56.43% 58.71% 57.27% 58.40% 61.72% 63.63% 62.61% 65.04% 57.49% 50.99% 54.69% 51.90% 51.12% 50.79% 49.76%
Total liabilities 92.41% 91.37% 90.15% 90.72% 91.05% 92.92% 93.35% 94.84% 93.60% 93.93% 94.15% 92.27% 92.59% 93.51% 93.50% 94.13% 94.73% 89.92% 86.78% 86.88% 85.87% 86.83% 87.89% 85.57%
Noncontrolling interest 0.12 0.13 0.13 0.15 0.15 0.15 0.15 0.14 0.14 0.15 0.15 0.15 0.16 0.16 0.16 0.15 0.15 0.15 0.18 0.17 0.20 0.19 0.19 0.20
Preferred stock, par value $1 per share, issued none 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, par value $1 per share 3.07 3.10 3.09 3.29 3.35 3.37 3.46 3.45 3.46 3.43 3.57 3.46 3.57 3.47 3.40 3.36 3.38 3.74 3.95 4.04 4.26 4.20 4.21 4.13
Paid-in capital 7.66 7.47 7.59 7.90 7.95 7.86 8.03 7.90 8.00 7.78 7.89 7.49 7.57 7.23 6.96 6.75 6.66 7.48 7.88 7.86 8.11 7.83 8.05 7.76
Retained earnings 49.20 48.15 47.39 49.68 49.56 47.70 48.21 48.43 47.72 46.05 47.68 46.55 47.41 46.46 46.17 46.38 46.68 55.83 60.09 60.60 62.50 59.85 58.56 57.13
Accumulated other comprehensive loss -5.37 -4.98 -4.81 -5.70 -5.49 -5.64 -6.00 -7.70 -6.71 -5.82 -5.77 -5.51 -5.36 -6.14 -6.17 -7.09 -7.56 -8.15 -8.09 -8.84 -8.90 -8.15 -8.38 -7.82
Treasury stock at cost -47.09 -45.23 -43.54 -46.03 -46.58 -46.36 -47.21 -47.05 -46.21 -45.52 -47.67 -44.42 -45.93 -44.70 -44.02 -43.68 -44.04 -48.97 -50.78 -50.71 -52.04 -50.76 -50.53 -46.95
Shareholders’ equity 7.46% 8.50% 9.72% 9.13% 8.80% 6.94% 6.50% 5.02% 6.26% 5.92% 5.70% 7.57% 7.25% 6.33% 6.34% 5.72% 5.12% 9.93% 13.05% 12.95% 13.93% 12.98% 11.91% 14.23%
Total liabilities and shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-K (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-Q (reporting date: 2018-09-29).

The overall capital structure is characterized by high leverage, with total liabilities consistently representing the vast majority of the balance sheet. Total liabilities fluctuated between 85.57% and 94.84% over the analyzed period, with a notable peak in the middle of 2020. This high dependency on debt is balanced by a relatively small equity base that experienced significant volatility during the same timeframe.

Current Liability Dynamics
Current liabilities have shifted from a baseline of approximately 33% to 37% in 2018-2019 to a more variable range between 29% and 40% in subsequent years. Accounts payable, a primary component of current liabilities, showed a sharp contraction during mid-2020, falling to 15.23% before recovering to 25.24% by June 2024. Current maturities of long-term debt exhibit high volatility, with significant spikes, such as 6.83% in June 2020, followed by periods of minimal obligations, as seen in July 2023 at 0.27%.
Long-Term Debt and Obligations
Long-term debt, excluding current maturities, is the most substantial individual component of the capital structure. This item peaked at 57.02% in June 2020, coinciding with the maximum recorded total liability ratio. In the period from 2021 through 2024, long-term debt stabilized between 45% and 49%. Long-term operating lease liabilities have remained relatively constant, generally fluctuating between 2.3% and 3.4%.
Equity Composition and Shareholders' Value
Total shareholders' equity witnessed a significant decline from 14.23% in September 2018 to a low of 5.12% in June 2020, thereafter oscillating between 5% and 9.7%. A primary driver of this low equity percentage is the substantial negative balance of treasury stock, which consistently ranges from -43% to -52%, indicating an aggressive and sustained share buyback strategy. Retained earnings also saw a decrease from a peak of 62.50% in June 2019 to a stabilized range of 46% to 49% in the later years of the analysis.
Comprehensive Loss and Minor Interests
Accumulated other comprehensive loss has remained a persistent negative influence on equity, though the magnitude of the loss decreased from a peak of -8.90% in June 2019 to -5.37% by June 2024. Noncontrolling interests have remained negligible and stable, consistently representing less than 0.20% of total liabilities and shareholders' equity.

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