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Arphra AIPlain-English read on Sysco Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $51.3B | $68.64B | $76.33B | $78.84B | $81.37B | $84.37B | $88.13B | $91.29B | $93.91B |
| Cost of revenue | $41.94B | $56.32B | $62.37B | $64.24B | $66.4B | $69.08B | $73.21B | $75.34B | $74.59B |
| Gross profit | $9.36B | $12.32B | $13.96B | $14.61B | $14.97B | $15.11B | $16.29B | $16.49B | $17.65B |
| Gross margin | +18.24% | +17.95% | +18.28% | +18.53% | +18.40% | +17.91% | +18.48% | +18.07% | +18.80% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $7.89B | $9.95B | $10.97B | $11.12B | $11.44B | $12.12B | $12.37B | $13.11B | $12.94B |
| Total operating expenses | $7.91B | $9.97B | $10.92B | $11.41B | $11.88B | $12.13B | $13.01B | $12.96B | $13.93B |
| Operating income | $1.45B | $2.35B | $3.04B | $3.2B | $3.09B | $3.3B | $3.49B | $3.65B | $3.67B |
| Operating margin | +2.82% | +3.42% | +3.98% | +4.06% | +3.80% | +3.92% | +3.96% | +4.00% | +3.91% |
| EBITDA | $2.32B | $3.25B | $3.7B | $4.17B | $4.14B | $4.3B | $4.6B | $4.73B | $4.88B |
| EBIT | $1.46B | $2.37B | $2.81B | $3.17B | $3.05B | $3.22B | $3.42B | $3.55B | $3.61B |
| Below the line | |||||||||
| Interest expense | $880.14M | $624M | $527M | $607M | $635M | $616.06M | $675.84M | $688.11M | $703.2M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$862.46M | -$599M | -$754M | -$637M | -$673M | — | — | — | — |
| Pre-tax income | $584.73M | $1.75B | $2.29B | $2.57B | $2.42B | $2.54B | $2.66B | $2.83B | $2.96B |
| Income tax expense | $60.52M | $388M | $515M | $610M | $587M | $623.15M | $640.52M | $666.08M | $685.4M |
| Earnings | |||||||||
| Net income | $524.21M | $1.36B | $1.77B | $1.96B | $1.83B | $1.98B | $2.02B | $2.21B | $2.21B |
| Net income · continuing ops | $524.21M | $1.36B | $1.77B | $1.96B | $1.83B | $2.03B | $2.05B | $2.19B | $2.26B |
| Net margin | +1.02% | +1.98% | +2.32% | +2.48% | +2.25% | +2.35% | +2.29% | +2.42% | +2.35% |
| EPS · basic | $1.03 | $2.66 | $3.49 | $3.90 | $3.74 | $4.67 | $5.01 | $5.40 | $5.60 |
| EPS · diluted | $1.02 | $2.64 | $3.47 | $3.89 | $3.73 | $4.59 | $4.95 | $5.31 | $5.58 |
| EPS · low estimate | — | — | — | — | — | $4.58 | $4.86 | $4.92 | $5.49 |
| EPS · high estimate | — | — | — | — | — | $4.61 | $5.18 | $5.56 | $5.65 |
| Shares · basic | 510.7M | 510.63M | 507.36M | 501.24M | 488.14M | 492.74M | 490.04M | 485.24M | 492.97M |
| Shares · diluted | 513.56M | 514.01M | 509.72M | 503.1M | 489.83M | 490.08M | 487.37M | 491.26M | 489.22M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 12 | 11 | 11 | 6 |
| Analysts (EPS) | — | — | — | — | — | 10 | 10 | 5 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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