At a glance
Sysco Corporation is worth $39.16B, about 22 times its fiscal 2026 earnings. Revenue grew 3.9% to $84.55B in fiscal 2026, with 2.1% kept as profit; over 5 years it has grown 10.5% a year. It pays a 2.67% dividend yield, raised every year for at least 9 years, and returned $8.68B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +13.2% over the past year with dividends reinvested and +3.8% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 59.4% in the 2020 crash (S&P 500: 33.7%) and 20.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 35 months after the lows.
The business in plain English
Sysco buys food and supplies from thousands of suppliers and delivers them to places that cook meals away from home. In the fiscal year ended June 27, 2026, restaurants made up 59% of sales. Education and government (8%), healthcare (8%) and travel and leisure (7%) came next. The biggest product groups were fresh and frozen meats (20%), canned and dry goods (18%) and frozen fruits, vegetables and bakery items (15%). It also sells napkins, cookware and cleaning supplies.
Sysco earns a thin markup on enormous volume. Fiscal 2026 sales hit a record $84.6 billion. Gross margin (sales minus product costs, as a share of sales) was 18.5%, and operating margin (operating profit as a share of sales) was 3.7%. U.S. Foodservice Operations brought in 69.5% of sales. International Foodservice added 19%, mainly from Canada, the UK, France, Ireland and Sweden. SYGMA, which supplies quick-service restaurant chains, added 10.2%. The United States made up 80.6% of sales.
In March 2026, Sysco agreed to buy Jetro Restaurant Depot for about $29.1 billion in cash and stock. Jetro runs 167 cash-and-carry warehouse stores in 35 states. More than 725,000 independent restaurants and foodservice operators shop there and take the goods away themselves. The deal is expected to close by the third quarter of fiscal 2027, pending regulatory clearance.
Price history
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SYY +13.2% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Fresh and frozen meats | $17.10B | 20.2% |
| Canned and dry products | $15.03B | 17.8% |
| Frozen fruits, vegetables, bakery and other | $12.68B | 15% |
| Dairy products | $8.29B | 9.8% |
| Poultry | $7.91B | 9.4% |
| Fresh produce | $6.96B | 8.2% |
| Paper and disposables | $5.63B | 6.7% |
| Beverage products | $3.21B | 3.8% |
| Seafood | $3.06B | 3.6% |
| Other | $2.77B | 3.3% |
| Equipment and smallwares | $1.92B | 2.3% |
By business segment
| U.S. Foodservice Operations | $58.80B | 69.5% |
| International Foodservice Operations | $16.04B | 19% |
| SYGMA | $8.62B | 10.2% |
| Other | $1.08B | 1.3% |
By geography
| United States | $68.11B | 80.6% |
| Canada | $6.51B | 7.7% |
| United Kingdom | $4.49B | 5.3% |
| Other | $2.52B | 3% |
| France | $1.90B | 2.2% |
| Sweden | $1.03B | 1.2% |
Latest results
- In Q4 FY2026 (ended Jun 27, 2026), revenue was $22.12B, up 4.7% from a year earlier, and net income was $552.0M (+4.0%).
- For fiscal 2026, revenue was $84.55B (+3.9% year over year; +10.5% a year from FY2021 to FY2026) with a 2.1% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +10.5% good |
|---|---|
| Operating margin | 3.7% weak |
| Free cash flow margin | 2.3% watch |
| Return on equity (FY2026) | 65.9% (lifted by a small equity base, often the result of years of buybacks) good |
| Return on assets (FY2026) | 6.2% watch |
| Net cash (cash minus debt) | $-11.59B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $51.30B | $524.2M | $1.43B |
| FY2022 | $68.64B | $1.36B | $1.16B |
| FY2023 | $76.33B | $1.77B | $2.08B |
| FY2024 | $78.84B | $1.96B | $2.16B |
| FY2025 | $81.37B | $1.83B | $1.60B |
| FY2026 | $84.55B | $1.76B | $1.94B |
Valuation snapshot
| Market value | $39.16B |
|---|---|
| P/E ratio | 22.3 |
| Dividend yield | 2.67% |
Rank among 1514 US companies
Market value at each year end
Sysco’s market value went from $30.28B at the end of 2016 to $39.16B on Nov 2, 2026, up 29%; since the end of 2025 it is up 11%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $39.16B | +11.0% |
| 2025 | $35.29B | -6.0% |
| 2024 | $37.56B | +1.8% |
| 2023 | $36.88B | -4.8% |
| 2022 | $38.74B | -3.8% |
| 2021 | $40.27B | +6.5% |
| 2020 | $37.82B | -13.3% |
| 2019 | $43.64B | +34.0% |
| 2018 | $32.57B | +2.9% |
| 2017 | $31.64B | +4.5% |
| 2016 | $30.28B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SYY price data to Nov 2, 2026 | +14.1% | +13.2% | +10.6% | +3.8% | +8.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +14.1% |
| 2025 | -0.9% |
| 2024 | +7.4% |
| 2023 | -1.7% |
| 2022 | -0.3% |
| 2021 | +8.3% |
| 2020 | -10.4% |
| 2019 | +39.6% |
| 2018 | +5.5% |
| 2017 | +12.5% |
| 2016 | +38.7% |
| 2015 | +5.8% |
| 2014 | +13.4% |
| 2013 | +18.9% |
| 2012 | +11.9% |
| 2011 | +3.5% |
| 2010 | +8.0% |
| 2009 | +26.7% |
| 2008 | -23.5% |
| 2007 | -13.2% |
| 2006 | +21.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 41.4% over that stretch · deepest drop along the way 43.1%, back to its old high 26 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 52.4% over that stretch · deepest drop along the way 59.4%, back to its old high 8.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 5.4% over that stretch · deepest drop along the way 20.7%, back to its old high 35.2 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 4 sales ($742K), 4 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 21, 2026 | Ronald L Phillips EVP and CHRO | sell (plan) | $615K |
| Sep 11, 2026 | Ronald L Phillips EVP and CHRO | sell (plan) | $80K |
| Aug 24, 2026 | Ronald L Phillips EVP and CHRO | sell (plan) | $43K |
| Sep 14, 2026 | Ronald L Phillips EVP and CHRO | sell (plan) | $5K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 7.7% | Dec 31, 2024 |
| Vanguard Capital Management | 7.51% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.6% | Mar 31, 2026 |
ETFs with the most weight in SYY
| PEJ Invesco Leisure and Entertainment ETF | 5.82% |
| PBJ Invesco Food & Beverage ETF | 4.96% |
| DIVP Cullen Enhanced Equity Income ETF | 3.06% |
| VLLU Harbor AlphaEdge Large Cap Value ETF | 2.86% |
| POWA Invesco Bloomberg Pricing Power ETF | 2.21% |
| XLP Consumer Staples Select Sector SPDR Fund | 2.17% |
| FDIV MarketDesk Focused U.S. Dividend ETF | 2.1% |
| RTH VanEck Retail ETF | 2.09% |
What could go wrong
- Restaurant Depot deal could stall or disappoint. The roughly $29.1 billion purchase of Jetro Restaurant Depot needs antitrust clearance and financing, and it could be delayed or blocked. Absorbing a business this large could also weigh on earnings per share.
- Large debt load, with more borrowing ahead. As of June 27, 2026, Sysco had $13.5 billion of debt and $1.9 billion of cash. Financing the deal's $21.6 billion cash portion could raise interest costs and reduce flexibility.
- Heavy reliance on restaurants and diners. Restaurants made up 59% of fiscal 2026 sales. A weak economy, a public health crisis or changing eating habits can cut how often people eat out, and Sysco's volumes with it.
- Thin margins leave little room for error. Operating margin (operating profit as a share of sales) was 3.7% in fiscal 2026. Sharp food inflation or deflation, or higher fuel costs, can quickly squeeze such slim profits.
- Competitors and buying groups squeeze prices. Rival distributors and group purchasing organizations, which negotiate prices for many buyers at once, can push down Sysco's prices and margins. A change in its mix of independent and chain customers could also lower margins.
- Labor shortages, wages and union contracts. Sysco's warehouses and deliveries need a large workforce. Staff shortages, rising pay, strikes over union contracts, or payments to union pension plans shared with other employers could raise costs and disrupt service.
Recent events
- Major agreement signed; New debt or financial obligation
- Major agreement signed; New debt or financial obligation
- Other company announcement
- Investor presentation or announcement
- Major agreement signed; New debt or financial obligation; Executive or board change
- Executive or board change; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released
- Other company announcement
- Investor presentation or announcement
For income and retirement investors
Sysco has raised its dividend for at least 9 straight years through fiscal 2026, and possibly longer. Dividends per share grew from $1.82 in fiscal 2021 to $2.17 in fiscal 2026, about 3.6% a year. In fiscal 2026 the dividend took 59% of earnings and 53.5% of free cash flow (the cash left after running and investing in the business). The yield was 2.65% as of October 28, 2026. Share buybacks (repurchases of its own stock) totaled $3.68 billion over fiscal 2022–2026, but only $200 million in fiscal 2026.
The shares have fallen sharply in downturns. They dropped 43.1% in the 2008 financial crisis and took 26 months to recover. In the 2020 COVID crash they fell 59.4% within weeks and recovered by December 2020. In the 2022 bear market they fell 20.7% and took until September 2025 to recover. A single stock carries more risk than a diversified fund, because one company's setbacks can hit both its share price and its dividend.
Questions investors ask
How does Sysco make money?
Sysco buys food and supplies from thousands of suppliers. It then sells them at a markup and delivers them to restaurants, hospitals, schools, hotels and other foodservice customers. It keeps a small slice of each sale. Fiscal 2026 sales were $84.6 billion, but operating margin (operating profit as a share of sales) was 3.7%, and net income was $1.76 billion. Restaurants made up 59% of sales. Fresh and frozen meats were the largest product group at about 20%.
Does Sysco raise its dividend every year?
Yes, so far. Sysco has raised its dividend at least 9 years in a row through fiscal 2026, and the true streak may be longer than the SEC data shows. Dividends per share rose from $1.82 in fiscal 2021 to $2.17 in fiscal 2026, about 3.6% a year. The fiscal 2026 dividend used 59% of earnings, and the yield was 2.65% as of October 28, 2026. Past increases do not guarantee future ones.
Is Sysco buying Restaurant Depot?
Yes. On March 30, 2026, Sysco agreed to buy Jetro Restaurant Depot for about $29.1 billion: $21.6 billion in cash plus 91.5 million new shares. Jetro runs 167 cash-and-carry warehouse stores in 35 states, serving more than 725,000 independent restaurants and foodservice operators. Sysco expects to finance the cash portion, adding to its $13.5 billion of debt as of June 27, 2026. The deal is expected to close by the third quarter of fiscal 2027, pending antitrust clearance.
What happens to Sysco stock after the Restaurant Depot merger?
Sysco shares are expected to become shares of Sysco Holdings Corporation, a new parent company expected to trade on the NYSE. Existing Sysco stockholders would own about 84% and Jetro's former owners about 16%, so existing holders' stake would shrink. The swap is meant to be tax-free. However, Sysco's 10-K warns that if it does not qualify as a reorganization under the tax code, holders could owe U.S. federal income tax on the shares they receive.
How has Sysco stock performed over the long term?
Unevenly. Based on share price, Sysco gained about 8.3% a year over the 10 years to October 28, 2026. It gained 4.2% a year over five years and 11.4% over one year. Calendar years ranged from a 39.6% gain in 2019 to a 10.4% loss in 2020, and the stock was roughly flat in 2022, 2023 and 2025. For 2026 it was up 14.7% through October 28, which is only part of a year.