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Sysco cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$181M in Q1 FY27 · $2.2B over twelve months

Operating cash flow$278M
Capital spending−$97.0M
Free cash flow+$181M
Cash / net income0.5×

Analysis

In Q1 FY27, Sysco generated $278M of operating cash flow and spent $97.0M on capital projects, leaving free cash flow of $181M.

Over the twelve months to Sep 26, 2026, operating cash flow was $2.8B; the largest uses were dividends ($1.0B), capital spending ($637M), other investing ($326M); besides operations, cash came from other financing ($651M), net borrowing (+) / repaid (−) ($446M); the cash balance rose by $2.2B.

Operating cash flow was $278M against net income of $526M — 0.5× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$262M, income taxes payable +$141M, accrued liabilities −$132M.

Free cash flow

Sysco: free cash flow by quarterSysco: free cash flow by quarter$234MQ2 FY25$620MQ3 FY25$819MQ4 FY25−$74.0MQ1 FY26$385MQ2 FY26$691MQ3 FY26$936MQ4 FY26$181MQ1 FY27
Operating cash flow less capital spending.
Sysco: operating cash flow against capital spendingSysco: operating cash flow against capital spendingOperating cash flowCapital spending$445M$211MQ2 FY25$819M$199MQ3 FY25$1.2B$374MQ4 FY25$86.0M$160MQ1 FY26$525M$140MQ2 FY26$852M$161MQ3 FY26$1.2B$239MQ4 FY26$278M$97.0MQ1 FY27
Latest (Q1 FY27): Operating cash flow $278M, Capital spending $97.0M.

Capital allocation, year by year

Sysco: where the cash came from (up) and went (down), by fiscal yearSysco: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $1.8BFY22: Net borrowing $714MFY22: Shares issued $128MFY22: Asset sales $24.0MFY22: Capital spending −$633MFY22: Acquisitions −$1.3BFY22: Buybacks −$500MFY22: Dividends −$959M$2.7BFY22FY23: Operating cash flow $2.9BFY23: Net borrowing −$581MFY23: Shares issued $79.0MFY23: Asset sales $42.0MFY23: Capital spending −$793MFY23: Acquisitions −$37.0MFY23: Buybacks −$500MFY23: Dividends −$996M$3.0BFY23FY24: Operating cash flow $3.0BFY24: Net borrowing $1.1BFY24: Shares issued $120MFY24: Asset sales $79.0MFY24: Capital spending −$832MFY24: Acquisitions −$1.2BFY24: Buybacks −$1.2BFY24: Dividends −$1.0B$4.3BFY24FY25: Operating cash flow $2.5BFY25: Net borrowing $635MFY25: Shares issued $110MFY25: Asset sales $214MFY25: Capital spending −$906MFY25: Acquisitions −$40.0MFY25: Buybacks −$1.2BFY25: Dividends −$1.0B$3.5BFY25FY26: Operating cash flow $2.6BFY26: Net borrowing $5.0MFY26: Shares issued $137MFY26: Asset sales $176MFY26: Capital spending −$700MFY26: Acquisitions −$189MFY26: Buybacks −$200MFY26: Dividends −$1.0B$3.0BFY26
Over these 5 years operating cash flow totalled $12.8B; the largest uses were dividends ($5.0B) and capital spending ($3.9B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.2B
Debt$13.8B
Net debt$10.6B
Due within a year$1.0B

Sysco funds itself: free cash flow was $2.2B over the last twelve months, and $3.2B of cash and investments stands against $13.8B of debt ($1.0B due within a year, 3.0× covered by cash).

Sysco: debt maturities by year (FY26)Sysco: debt maturities by year (FY26)$1.0BYear 1$750MYear 2$655MYear 3$1.5BYear 4$700MYear 5
Principal due in each year as disclosed in the annual report, against $3.2B of cash and investments now.

Where the cash came from and went

Sysco: sources (+) and uses (−) of cash, Q1 FY27Sysco: sources (+) and uses (−) of cash, Q1 FY27Cash drawn (+) / kept (−)−$1.3BShares issued$1.0BNet borrowing (+) / repaid (−)$401MOperating cash flow$278MDividends−$264MOther investing−$125MCapital spending−$97.0MAsset & business sales$49.0MOther financing−$24.0MExchange rates−$3.0M
Sysco: sources (+) and uses (−) of cash, TTM to Q1 FY27Sysco: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$2.8BCash drawn (+) / kept (−)−$2.2BDividends−$1.0BOther financing$651MCapital spending−$637MNet borrowing (+) / repaid (−)$446MOther investing−$326MAsset & business sales$201MShares issued$131MExchange rates−$11.0M

From profit to cash

Sysco: net income to operating cash flow, Q1 FY27Sysco: net income to operating cash flow, Q1 FY27Net income$526MDepreciation & amortization$262MStock-based pay$28.0MOther non-cash−$23.0MPayables$70.0MAccrued liabilities−$132MPrepaid and other assets−$86.0MOther liabilities−$5.0MIncome taxes payable$141MOperating cash flow$278M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$278M−$97.0M——−$264M$401M$1.0B−$1.3B$181M
Q4 FY26$1.2B−$239M——−$259M−$556M$13.0M−$62.0M$936M
Q3 FY26$852M−$161M−$56.0M−$200M−$260M$414M$64.0M−$657M$691M
Q2 FY26$525M−$140M——−$259M$187M$17.0M−$272M$385M
Q1 FY26$86.0M−$160M——−$259M$34.0M$43.0M$222M−$74.0M
Q4 FY25$1.2B−$374M—−$550M−$248M−$328M$14.0M$216M$819M
Q3 FY25$819M−$199M—−$400M−$249M$707M$29.0M−$709M$620M
Q2 FY25$445M−$211M−$40.0M−$192M−$252M$172M$38.0M−$21.0M$234M

Sysco: income statement and cash flow

Sysco, Q1 FY27: revenue $21.7B (+3% year over year), operating margin 3.3%. The chart follows the revenue to costs, profit and cash.

Sysco: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.