# Sysco Corporation (SYY)

> Source: Nexqual · https://nexqual.com/SYY · data as of 2026-10-29 14:27 UTC · cite as "Nexqual, Sysco Corporation (SYY), nexqual.com/SYY" · informational, not investment advice.

**Price:** USD 82.27 (+0.15% today) · US market open, as of October 29, 2026 at 14:27 UTC; quotes may be delayed. Prev close 82.15 · day 81.86–83.5 · 52w 68.19–91.85 · market cap $40.5B · NYQ

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $84.6B, net income $1.76B (2.1% margin), free cash flow $1.94B (SEC filings).
- Valuation: P/E 23.2x (avg 20.5x at the last 3 fiscal year-ends), EV/EBITDA 12.6x, net debt $10.5B.
- 5 of 80 tracked superinvestors hold SYY (13F, Q2 2026): 1 new, 2 added, 1 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $1.3M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $1.0M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.43 on a 1–5 scale) (14 analysts), mean target USD 91.75 (range 78–102).
- Total return with dividends: 1Y +13.9% vs S&P 500 +13.1%; 5Y +22.3% vs S&P 500 +79.1%.
- Next earnings: 2026-11-03, EPS estimate USD 1.19, revenue estimate $22.0B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $68.6B | $76.3B | $78.8B | $81.4B | $84.6B | $84.6B |
| Gross profit | $12.3B | $14.0B | $14.6B | $15.0B | $15.6B | — |
| Operating income | $2.35B | $3.04B | $3.20B | $3.09B | $3.10B | $3.09B |
| Net income | $1.36B | $1.77B | $1.96B | $1.83B | $1.76B | $1.76B |
| EPS (diluted) | $2.64 | $3.47 | $3.89 | $3.73 | $3.66 | — |
| Free cash flow | $1.16B | $2.08B | $2.16B | $1.60B | $1.94B | $1.94B |
| Gross margin | 17.9% | 18.3% | 18.5% | 18.4% | 18.5% | — |
| Operating margin | 3.4% | 4.0% | 4.1% | 3.8% | 3.7% | 3.7% |
| Net margin | 2.0% | 2.3% | 2.5% | 2.2% | 2.1% | 2.1% |
| Revenue growth | +33.8% | +11.2% | +3.3% | +3.2% | +3.9% | — |
| Cash + short-term investments | $873M | $757M | $720M | $1.09B | $1.80B | — |
| Total debt | $10.1B | $10.3B | $11.5B | $12.4B | $12.3B | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 23.2x · P/S 0.5x · EV/EBITDA 12.6x · EV/Sales 0.6x · P/FCF 21.0x · P/B 15.3x · FCF yield 4.76% · Earnings yield 4.32% · Dividend yield (paid, TTM) 2.55% · Buyback yield (TTM) 0.49% · Net debt $10.5B · EV $51.2B
P/E at fiscal year-ends: Jun 2026 22.9x, Jun 2025 20.3x, Jun 2024 18.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
5 of 80 tracked investors hold SYY. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Bill Nygren | Oakmark Funds | 1.81% | $1.36B | Added +48.0% |
| Yacktman Asset Management |  | 1.34% | $108M | Added +4.8% |
| Daniel Loeb | Third Point | 1.04% | $48.2M | New position |
| Mairs & Power | Mairs & Power Funds | 0.04% | $4.1M | Reduced -51.1% |
| Thomas Gayner | Markel Group | 0.02% | $2.5M | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-11…2026-09-14 | Phillips Ronald L | EVP and CHRO | 1,017 | $84K | 2% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-21…2026-08-24 | Phillips Ronald L | EVP and CHRO | 7,856 | $657K | 17.8% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-10…2026-08-11 | Phillips Ronald L | EVP and CHRO | 6,652 | $558K | 14.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $1.0M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-26 | Hinshaw John M | Director | 13,304 | $1.0M | 75.17 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 2.43 on a 1–5 scale), 14 analysts; mean target USD 91.75 (low 78, high 102).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Morgan Stanley | Target raised | Equal-Weight | $88 → $91 |
| 2026-09-29 | JP Morgan | Target lowered | Overweight | $100 → $95 |
| 2026-08-05 | UBS | Target raised | Buy | $90 → $95 |
| 2026-08-05 | Citigroup | Target raised | Neutral | $82 → $86 |
| 2026-08-05 | Piper Sandler | Target raised | Neutral | $77 → $84 |
| 2026-07-16 | Morgan Stanley | Target raised | Equal-Weight | $84 → $88 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +13.9% | +22.3% |
| S&P 500 (SPY) | +13.1% | +79.1% |
| Per year | +14.0% | +4.1% |
| Volatility (annualized) | 27.9% | 22.5% |
| Max drawdown | -24.0% (Feb 2026→Mar 2026) | -26.3% (Apr 2022→Oct 2023) |

## Peers (Food Distribution)
USFD (US Foods Holding Corp.) USD 102.93 +0.98% · PFGC (Performance Food Group Company) USD 97.59 +1.40% · CHEF (The Chefs' Warehouse, Inc.) USD 103.98 -3.18% · UNFI (United Natural Foods, Inc.) USD 47.47 -0.40% · ANDE (The Andersons, Inc.) USD 64.57 +0.54% · AVO (Mission Produce, Inc.) USD 11.46 -0.69%

## More
Full page: https://nexqual.com/SYY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.19 | $1.19 | -0.1% | $22.02B | 12 |
| Next quarter (ends 2026-12-31) | $1.07 | $1.06 | +0.4% | $21.64B | 12 |
| Current fiscal year (ends 2027-06-30) | $5.05 | $4.94 | +2.1% | $89.96B | 13 |
| Next fiscal year (ends 2028-06-30) | $5.39 | $5.26 | +2.4% | $92.06B | 11 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $1.53 | $1.51 | Beat +1.3% | — |
| — | Quarter ended Mar 31, 2026 | $0.94 | $0.94 | In line | — |
| — | Quarter ended Dec 31, 2025 | $0.99 | $0.98 | Beat +1.0% | — |
| — | Quarter ended Sep 30, 2025 | $1.15 | $1.12 | Beat +2.7% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-06 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation — “Notes Offerings On October 6, 2026, Sysco Corporation and Sysco Holdings Corporation (each, an "Issuer" and together, the "Issuers") issued and sold (i) $10.75 billion aggregate principal amount of USD Senior Notes (as defined below), (ii) $3.9 billion aggregate principal amount of USD Junior Subordinated Notes (as defined below) and (iii) 1.0 billion aggregate principal amount of Euro Junior Subordinated Notes (as defined below). The net proceeds to the Issuers from the sale of the USD Senior Notes, USD Junior…” | https://www.sec.gov/Archives/edgar/data/96021/000110465926114079/0001104659-26-114079-index.htm |
| 2026-10-01 | DEFA14A | Additional proxy material | https://www.sec.gov/Archives/edgar/data/96021/000009602126000038/0000096021-26-000038-index.htm |
| 2026-10-01 | DEF 14A | Proxy statement (pay, board, votes) · period ended Oct 1, 2026 | https://www.sec.gov/Archives/edgar/data/96021/000009602126000037/0000096021-26-000037-index.htm |
| 2026-09-25 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation — “Notes Offering On September 25, 2026, Sysco Corporation and Sysco Holdings Corporation (each, an "Issuer" and together, the "Issuers") issued and sold (i) C$750 million aggregate principal amount of the Issuers' 4.250% Senior Notes due 2030 (the "2030 Notes") and (ii) C$750 million aggregate principal amount of the Issuers' 4.800% Senior Notes due 2034 (the "2034 Notes" and, together with the 2030 Notes, the "Notes"). The Notes were offered and sold pursuant to an automatically effective Registration Statement on…” | https://www.sec.gov/Archives/edgar/data/96021/000110465926110977/0001104659-26-110977-index.htm |
| 2026-09-24 | 8-K | Other material event — “USD Senior Notes On September 22, 2026, with respect to the offering and sale by Sysco Corporation and Sysco Holdings Corporation (each, an "Issuer" and together, the "Issuers") of (i) $1,750 million aggregate principal amount of 5.450% Senior Notes due 2029 (the "2029 Notes"), (ii) $2,000 million aggregate principal amount of 5.600% Senior Notes due 2031 (the "2031 Notes"), (iii) $1,500 million aggregate principal amount of 5.800% Senior Notes due 2033 (the "2033 Notes"), (iv) $2,000 million aggregate principal…” | https://www.sec.gov/Archives/edgar/data/96021/000110465926110464/0001104659-26-110464-index.htm |
| 2026-09-16 | 8-K | Other material event — “On September 14 , 2026, with respect to the offering and sale of 12,345,679 shares of its common stock, par value $1.00 per share ("Common Stock"), at a public offering price of $ 81.00 per share (the "Offering"), Sysco Corporation ("Sysco") entered into an Underwriting Agreement (the "Underwriting Agreement") with Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, as representatives of the several underwriters named on Schedule I…” | https://www.sec.gov/Archives/edgar/data/96021/000110465926108285/0001104659-26-108285-index.htm |
| 2026-09-14 | 8-K | Other material event — “As previously announced, on March 30, 2026, Sysco Corporation ("Sysco") entered into an Agreement and Plan of Merger, by and among Sysco, Sysco Holdings Corporation (formerly known as New Slider Holdco, Inc.), a Delaware corporation ("Sysco Holdings"), JRD Unico Inc., a Delaware corporation ("JRD"), Warehouse Realty, LLC, a Delaware limited liability company ("Warehouse Realty," and together with JRD, known as "Jetro Restaurant Depot"), and certain merger subsidiaries. This Current Report on Form 8-K is being…” | https://www.sec.gov/Archives/edgar/data/96021/000110465926107510/0001104659-26-107510-index.htm |
| 2026-09-09 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/96021/000095014226002526/0000950142-26-002526-index.htm |
| 2026-09-09 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/96021/000095014226002525/0000950142-26-002525-index.htm |
| 2026-09-04 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/96021/000095014226002499/0000950142-26-002499-index.htm |
| 2026-09-04 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation; Director or executive officer change, or pay arrangement — “On April 16, 2026, Sysco Corporation (" Sysco " or the " Company "), a Delaware corporation, and its wholly-owned subsidiaries, Sysco Canada, Inc., a British Columbia corporation, and Sysco Global Holdings B.V., a Netherlands limited liability company, entered into a Credit Agreement with Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto (the " Revolving Credit Agreement "). On September 4, 2026, Sysco entered into a First Amendment (the " First Amendment ") to the…” | https://www.sec.gov/Archives/edgar/data/96021/000095014226002498/0000950142-26-002498-index.htm |
| 2026-08-21 | 10-K | Annual report · period ended Jun 27, 2026 | https://www.sec.gov/Archives/edgar/data/96021/000009602126000033/0000096021-26-000033-index.htm |
| 2026-08-20 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure — “(d) On August 14, 2026, the Board of Directors (the "Board") of Sysco Corporation ("Sysco" or the "Company") increased the size of the Board from eleven to thirteen directors and elected Mr. Jason Murray and Mr. Thomas Ondrof to fill the resulting vacancies, effective on September 1, 2026. The Board has also approved the following committee appointments effective September 1, 2026: Mr. Murray - Technology Committee Mr. Ondrof - Audit Committee Each of Messrs. Murray and Ondrof will receive customary compensation…” | https://www.sec.gov/Archives/edgar/data/96021/000009602126000030/0000096021-26-000030-index.htm |
| 2026-08-12 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/96021/000095014226002315/0000950142-26-002315-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.