Sysco Corporation (SYY)
Payables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 66,401,000 | 65,967,600 | 65,753,000 | 65,055,300 | 64,297,000 | 63,622,200 | 63,264,100 | 62,705,100 | 62,372,900 | 61,798,400 | 60,213,300 | 58,398,100 | 56,242,400 | 53,994,200 | 49,836,920 | 45,868,340 | 41,941,070 | 36,020,880 | 37,453,460 | 40,189,540 |
| Payables | US$ in thousands | 6,512,000 | 6,183,000 | 5,842,000 | 6,374,000 | 6,290,000 | 5,869,480 | 5,737,730 | 5,796,400 | 5,923,110 | 5,902,250 | 5,420,420 | 6,018,230 | 5,752,960 | 5,721,700 | 5,019,050 | 5,238,310 | 4,884,780 | 4,221,250 | 3,554,620 | 4,035,330 |
| Payables turnover | 10.20 | 10.67 | 11.26 | 10.21 | 10.22 | 10.84 | 11.03 | 10.82 | 10.53 | 10.47 | 11.11 | 9.70 | 9.78 | 9.44 | 9.93 | 8.76 | 8.59 | 8.53 | 10.54 | 9.96 |
June 30, 2025 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $66,401,000K ÷ $6,512,000K
= 10.20
The payables turnover ratio for Sysco Corporation demonstrates a general pattern of stability with some variability over the period analyzed. Starting in September 2020, the ratio was 9.96, indicating that the company paid its accounts payable approximately 10 times during that fiscal period. Over the subsequent year, the ratio saw a slight increase, reaching 10.54 in December 2020, reflecting a marginally faster payment cycle.
In the first quarter of 2021, the ratio decreased to 8.53, suggesting a lengthening of the average days payable outstanding, before slightly increasing again in June 2021 to 8.59. The ratio then experienced a modest rise, reaching 8.76 by September 2021, and subsequently climbed to 9.93 in December 2021, approaching levels observed prior to the decline.
Throughout 2022, the ratio fluctuated within a range of approximately 9.44 to 11.11, peaking in December 2022 at 11.11, indicating periods of faster payments, possibly influenced by seasonal or operational factors. The ratio remained relatively stable in 2023, with values between 10.21 and 10.84, suggesting consistent management of trade payables.
Moving into late 2023 and into 2024, the ratio maintained around 10.21 to 11.26, with the highest point recorded in December 2024 at 11.26. This upward trend at year-end may reflect strategic alterations in payment practices or supplier negotiations aimed at optimizing cash flow.
Overall, the payables turnover ratio for Sysco displays a pattern of moderate variability within a range that suggests a balanced approach to managing accounts payable. The ratios fluctuate around an average of approximately 10.2 to 10.5 times annually, indicating steady payment cycles that are likely aligned with the company's operational and financial strategies to maintain supplier relationships while optimizing liquidity.
Peer comparison
Jun 30, 2025