Sysco Corporation (SYY)
Cash conversion cycle
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 27.78 | 27.07 | 28.03 | 28.00 | 26.56 | 27.16 | 27.25 | 27.06 | 26.22 | 27.29 | 28.26 | 29.27 | 28.80 | 29.81 | 30.14 | 32.27 | 32.16 | 32.62 | 30.22 | 28.47 |
| Days of sales outstanding (DSO) | days | 24.68 | 24.79 | 24.00 | 26.56 | 24.75 | 26.02 | 24.94 | 25.39 | 24.38 | 25.25 | 24.47 | 27.32 | 25.92 | 26.76 | 25.97 | 28.10 | 26.97 | 26.71 | 23.06 | 23.04 |
| Number of days of payables | days | 35.80 | 34.21 | 32.43 | 35.76 | 35.71 | 33.67 | 33.10 | 33.74 | 34.66 | 34.86 | 32.86 | 37.62 | 37.34 | 38.68 | 36.76 | 41.68 | 42.51 | 42.77 | 34.64 | 36.65 |
| Cash conversion cycle | days | 16.66 | 17.65 | 19.60 | 18.80 | 15.60 | 19.51 | 19.09 | 18.71 | 15.94 | 17.68 | 19.87 | 18.97 | 17.39 | 17.88 | 19.35 | 18.69 | 16.62 | 16.56 | 18.63 | 14.86 |
June 30, 2025 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 27.78 + 24.68 – 35.80
= 16.66
The analysis of Sysco Corporation's cash conversion cycle (CCC) over the period from September 2020 to June 2025 reveals notable fluctuations and a general pattern of variability in operational efficiency.
Beginning in September 2020, the CCC was approximately 14.86 days, indicating a relatively efficient cycle in terms of receivables collection, inventory management, and payables deferral. Over the subsequent quarters, the CCC experienced an increase, reaching a peak of approximately 19.87 days at the end of December 2022. This increase suggests a lengthening of the cycle, potentially attributable to longer receivables collection periods, extended inventory holding periods, or shifts in payables management.
From March 2023 onward, the CCC decreased notably to around 15.94 days, reflecting an improvement in cycle efficiency. This reduction may be associated with efforts to optimize cash flows, accelerate receivables collection, or streamline inventory turnover. However, this positive trend was not sustained; the cycle increased again, reaching approximately 19.60 days by December 2024 before decreasing slightly to about 17.65 days in March 2025.
Overall, the data illustrate that the CCC has fluctuated within a range of approximately 14.86 days to 19.87 days throughout the analyzed period. The cyclical nature of these changes suggests adjustments in operations or strategic initiatives aimed at balancing liquidity and operational efficiency. The periods of lengthening may reflect responses to market conditions or supply chain considerations, whereas the periods of shortening indicate efforts to enhance cash flow management and operational agility.
Peer comparison
Jun 30, 2025