Sysco Corp., current enterprise value calculation

Current share price (P)	$76.67
No. shares of common stock outstanding	491,520,584
US$ in millions
Common equity (market value)¹	37,685)
Add: Preferred stock, par value $1 per share, issued none (per books)	—)
Total equity	37,685)
Add: Current maturities of long-term debt (per books)	469)
Add: Long-term debt, excluding current maturities (per books)	11,513)
Total equity and debt	49,667)
Less: Cash and cash equivalents	696)
Enterprise value (EV)	48,971)

Based on: 10-K (reporting date: 2024-06-29).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 76.67 × 491,520,584

Sysco Corp., EV calculation

	Jun 29, 2024	Jul 1, 2023	Jul 2, 2022	Jul 3, 2021	Jun 27, 2020	Jun 29, 2019
Share price^1, 2	$76.67	$69.76	$83.63	$78.99	$57.50	$73.35
No. shares of common stock outstanding¹	491,520,584	504,925,847	506,110,343	512,081,796	508,535,623	513,176,946
US$ in millions
Common equity (market value)³	37,685)	35,224)	42,326)	40,449)	29,241)	37,642)
Add: Preferred stock, par value $1 per share, issued none (book value)	—)	—)	—)	—)	—)	—)
Total equity	37,685)	35,224)	42,326)	40,449)	29,241)	37,642)
Add: Current maturities of long-term debt (book value)	469)	63)	581)	495)	1,544)	41)
Add: Long-term debt, excluding current maturities (book value)	11,513)	10,348)	10,067)	10,588)	12,902)	8,122)
Total equity and debt	49,667)	45,634)	52,974)	51,532)	43,688)	45,805)
Less: Cash and cash equivalents	696)	745)	867)	3,007)	6,059)	513)
Enterprise value (EV)	48,971)	44,889)	52,106)	48,525)	37,628)	45,291)

Based on: 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29).

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Sysco Corp. Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 76.67 × 491,520,584

The financial trajectory from 2019 to 2024 is characterized by notable volatility in valuation, with a distinct peak occurring in 2022 followed by a correction and subsequent partial recovery. Enterprise value experienced a significant contraction in 2020 before ascending to its highest point in 2022, reflecting fluctuations in both market sentiment and the underlying capital structure.

Enterprise Value (EV) Fluctuations: The enterprise value demonstrates a cyclical pattern, declining from 45,291 million US$ in 2019 to a period low of 37,628 million US$ in 2020. A strong recovery phase followed, with the value peaking at 52,106 million US$ in 2022. A subsequent decrease to 44,889 million US$ in 2023 was observed, followed by a rebound to 48,971 million US$ by June 2024.
Equity Market Value Trends: Common equity market value mirrored the movements of the overall enterprise value. A sharp decline was noted in 2020, falling to 29,241 million US$. This was followed by a steady increase over two years, reaching a maximum of 42,326 million US$ in 2022. The value then contracted to 35,224 million US$ in 2023 before recovering to 37,685 million US$ in 2024, effectively returning to 2019 levels.
Capital Structure and Debt Integration: Total equity and debt remained closely aligned with the enterprise value throughout the analyzed period, peaking in 2022 at 52,974 million US$. The consistent narrow gap between total equity and debt and the final enterprise value suggests a stable relationship between total capitalization and cash holdings, as the enterprise value remained slightly below the combined total of equity and debt in every reporting period.
Comparative Valuation Analysis: The data indicates that the valuation peak in 2022 was driven by a simultaneous increase in both market equity and total debt/equity levels. The subsequent dip in 2023 suggests a broad compression in valuation, while the 2024 figures indicate a stabilization of the enterprise value near the 49 billion US$ threshold.

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Sysco Corp. (NYSE:SYY)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)