Sysco Corporation (SYY)
Fixed asset turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 81,371,000 | 80,789,100 | 80,570,600 | 79,707,500 | 78,844,000 | 78,016,100 | 77,512,300 | 76,818,400 | 76,324,700 | 75,553,800 | 73,580,200 | 71,306,400 | 68,636,100 | 65,815,700 | 60,738,200 | 55,977,000 | 51,297,900 | 44,027,560 | 45,901,660 | 49,367,660 |
| Property, plant and equipment | US$ in thousands | 7,215,000 | 6,815,000 | 6,620,000 | 6,566,000 | — | — | — | 5,795,400 | 5,646,820 | 4,649,360 | 5,270,970 | 5,167,270 | 5,179,720 | 4,345,100 | 5,032,020 | 5,093,940 | 5,035,230 | 4,297,860 | 4,382,740 | 4,404,600 |
| Fixed asset turnover | 11.28 | 11.85 | 12.17 | 12.14 | — | — | — | 13.26 | 13.52 | 16.25 | 13.96 | 13.80 | 13.25 | 15.15 | 12.07 | 10.99 | 10.19 | 10.24 | 10.47 | 11.21 |
June 30, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $81,371,000K ÷ $7,215,000K
= 11.28
The analysis of Sysco Corporation’s fixed asset turnover over the specified period reveals notable fluctuations and a degree of overall stability in recent years.
From September 30, 2020, through December 31, 2020, the ratio declined from 11.21 to 10.47, indicating a decrease in sales generated per dollar of fixed assets, possibly due to increased capital investment or reduced sales efficiency. This downward trend persisted into March 31, 2021, and June 30, 2021, with ratios of 10.24 and 10.19 respectively, suggesting a continued period of lower asset utilization.
Starting in September 2021, the ratio increased to 10.99, signaling some improvement in sales efficiency relative to fixed assets. This upward momentum gained strength, as evidenced by a significant jump to 12.07 at the end of 2021 and further escalation to 15.15 by March 2022. The peak at this point reflects an optimal utilization of fixed assets to generate sales during this period.
Following this peak, the ratio displayed variability, with a slight decrease to 13.25 in June 2022 and an increase to 13.80 by September 2022. The ratio slightly extended to 13.96 at year-end 2022, maintaining a relatively high level. In the first quarter of 2023, the ratio reached 16.25, indicating a significant improvement in asset efficiency, possibly driven by operational efficiencies or sales growth in relation to fixed assets.
Subsequently, there was a decline to 13.52 in June 2023 and further to 13.26 in September 2023, suggesting a moderation from the earlier peak but still remaining elevated relative to the 2020 baseline.
The projections for late 2023 and early 2024 show ratios of 12.14 and 12.17, respectively, indicating a stabilization at a somewhat lower level. By March 2024, the ratio remains at 11.85, and into mid-2025, it continues at around 11.28, which is close to the earlier figures, reflecting a normalization or slight decrease in asset utilization efficiency.
Overall, the fixed asset turnover for Sysco Corporation displays a pattern of initial decline, followed by a period of substantial improvement and subsequent stabilization at higher levels than in the early years. The fluctuations appear to be influenced by operational changes, capital investments, and strategic adjustments affecting asset utilization efficiency over time.
Peer comparison
Jun 30, 2025